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interesting topic
Bloomberg trying to give credit to Obama instead of the private oil drillers on private land. Disgusting.
You will start to see a lot more anti-fracking and anti-Keystone pipeline propaganda being spread over the next few months. The Arabs are starting to see how much this can hurt them.
http://cnsnews.com/news/articl...
Unforeseen??? by blog trolls maybe
while fracking has set the country on a new short term course, the environmental risks must be weighed when drilling, in many cases the employment and the taxes collected out weigh everything else. Is it right ?? Only time will tell...
The environmental risks are roughly the same as for simple oil drilling, which are pretty minimal considering the benefits gotten from that drilling. This, however, doesn't stop the scare mongering of environmentalists, and propogandists, like Josh Fox and his ignominious Gasland.
The way I see it is: even if we increase oil production, lift export embargoes, and decrease the amount of foreign oil we are importing we will still never see any change in the amount of fuel prices because of the amount it costs to frack shale deposits and more importantly "Big Oil" and how it will directly affect their money and we all know those guys own everything, run the country and will never allow anything to limit the amount of money they are earning.
Oil from North Dakota is selling for MUCH less than international prices. Yet, the Fracking heroes are still making money - and increasing the wealth of America in general.
Agree
You want some cheese with that wine ?
Obama has done nothing in the way of opening up federal lands and if he had his way he wanted to put a complete wack-job on FERC to slow down the growth of pipeline infrastructure in the US.
Fact is this entire oil renaissance is 100% private sector without any government help. Far be it from Obama NOT to take credit for this every chance he gets, after all, the private sector didn't build that.
this is a god send for the Y GEN.Do not waste it. Do not repeat the gullible Baby Boomers satisfied with crumbs, Say NO to big oil companies domination. You are to be the Owners and they the Servants. Screw all the talks about Capitalism and Free Markets (they do not exist). Vote down lobbies that promote Big Oil Companies.
While the public and media was obsessively focusing Wall Street on the East and Silicon Valley on the West a new king seems to have emerged. A king whose arrival is going to have global implication!
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✦✦✦ ✦✦✦✦✦ ✦ﴪ✦✦ ✦✦✦✦ ✦𐄱✦✦They had way to much power over the influence of the worlds economy. They abused it too.
Wait, I thought Obama was a disaster for the US energy industry?!?! You mean the TP has been saying things that aren't true?
Has he been any help ?
Are you now saying it's the proper role of government to intervene in private industry?
O has been interfering. People like Aubrey McClendon, George Mitchell, and Harold Hamm have succeeded despite O's best efforts, such as his ridiculous feet shuffling and dissembling over the Keystone Pipeline. And let's not forget his general hostility towards fossil fuels.
You should also keep in mind that BP was drilling so far off the coast and at the depths they were drilling at during the Deepwater Horizon oil spill because federal regulation made it impossible to drill in safer environments.
Proper? No, but with the power they have granting permits, land use and pipeline run decisions they have a big role. Not to mention the money they give through "stimilus" so the investing houses can drive up the price.
No, I think it's better when they stay out of the way. But do you really think Obama wont take credit for the oil boom in his state of the union address ?
Oil is FRANGIBLE the gas for your car came from oil from all over the world- it's still gas. Your bread wheat can come from Texas or N Dakota, it's still bread.
So drilling 6400 fresh fracking wells each year, with an expected life expectancy of 18 months and the related pollution effects now has made America stronger and it's residents at risk for various health concerns as a result. And someone remind me , where did we win ?
One of the biggest positives of the boom in domestic oil & gas is that America is no longer buying as much energy from countries that hate us and that use our money to fund terrorism.
No, shale wells have a life expectancy of 30+ years. They HALF production after the first year is a rule of thumb. It's a predictable mathematical progression otherwise people wouldn't invest in them.
But you do have a lot of idiots running around saying the wells are dry after the initial decline. They sure grasp for every half-truth they can get their hands on.
One thing I haven't seen anyone mention is the impact this would have on our trade deficit. If we can lower that it's always a good thing.
The impact of greater domestic oil and gas supplies has already reduced the USA's trade deficit.
Unforeseen every step of the way by some it seems
Obama and his EPA have done evberything possible to prevent fracking on federal land and impose regulations on extraction on state land (like claiming bakken oil is more flammable than other oil), while simultaneously trying to take credit for increased US production.
More crude produced in the USA should bring lower prices for refined products in the USA, assuming we have sufficient refining capacity in the USA to process the crude. Lower priced refined products here would not only benefit retail consumers but also serve to attract large industrial energy users like manufacturers to locate here, bringing well paid jobs back. We should be careful about exporting too much.
Right now, plastics and chemical feedstocks are 30% cheaper in the US than in China. Jobs WILL be coming back as long as gas from fracking continues.
"Jobs will be coming back...." Ah, if we could only raise the dead..
I can't wait to hear the Republicans scream when they run for office how the US has been losing ground in the oil field. It's all O's fault. They'll forecast five dollar gas and long lines as long as u listen.
The Republicans were screaming to let us drill and get off the teat. The oil production is on and from PRIVATE land and private investment. No, "O" had not much to do with it.
I do believe it was Palin that said "Drill baby drill." Maybe someone listened although they would never admit it.
Oil produced in Alaska is exported and an EQUIVALENT amount is imported on the East and Gulf coast where the refineries are...oil traders do it every day. Tarry California crude is exported and traded for sweet light crude suited for US refineries.
The proposal is simply to eliminate the paperwork required by the government to justify the 1:1 exchange.... nothing changes in practice.
Oil business for 35 yrs so I know.
That was certainly the way we did some swapping a while ago when I was in the petrochem business. Ethylene, propane and other products swapped all the time. Purchase docs often did not agree with the actual delivery source.
Alaskan oil doesn't get exported, it mostly comes right here to Calif.
I was speaking to the general notion of swaps, not Alaska specifically.
Crude oil swaps are illegal, if it involves domestic crude going to another country without a permit from the government. All of those are public record.
It NETS to zero as required by law
It's illegal to export any domestic crude oil without a department of commerce permit. That is the law.
Sorry, but you're lying.
Really/ Is that all ya got?
No I have facts from the EIA, but a fool like Bucyrus Ohio wont look at them, he will just keep posting the untruths.
Ok but I'll bet the rest of us would like to learn something.
I'm very sure Barry will claim credit for the good fortune but then again he has to deal with his very troubling Obamacare.
FRACK YES!!!!!!!!!!!!!!!!!!