Skip to comments.The Death of Oil Has Been Greatly Exaggerated
Posted on 02/11/2018 7:05:18 AM PST by NOBO2012
The proclamation of solar powers dominance may have been a bit premature
Meanwhile, in the Oil-ympics, Team USA is currently looking strong: US sells oil to the Middle East as surging domestic production puts America on pace to rival Russia and Saudi as world's top energy producer.
In 2013, the US shipped just over 100,000 barrels a day.
This past November, American firms exported 1.53 million barrels a day.
The US now exports up to 1.7 million barrels per day of crude, and this year will have the capacity to export 3.8 billion cubic feet per day of natural gas.
Terminals conceived for importing liquefied natural gas have now been overhauled to allow exports.
As Reuters reported last month:
Surging shale production is poised to push US oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.
Least of the few [who] could have imagined,[it] even a decade ago would have been Barack Hussein Obama, our President for 8 years of that decade of diminishing expectations. He spent his tenure establishing bans on drilling, implementing regulatory roadblocks, and trying to eliminated tax breaks for oil production while giving huge tax credits for wind and solar powered projects.
The sun, the wind and the star behind Americas alternate energy plan
Every time he pulled out his favorite trope - we cant just drill our way out the energy and climate challenge that we face - he explained quite simply how the self-fulfilling prophecy works.
Like much of the Obama legacy that particularly pernicious policy of self-destruction is now being reversed. It turns out we can indeed drill our way out of a self-imposed energy crisis. In fact, if you are dedicated to Making America Great Again there is very little you cant do. Regardless of the roadblocks thrown up around you.
Hold my coat, Im going to Make America Great Again
Posted from: MOTUS A.D.
Remember “peak oil” was another global warming style scam.
Oklahoma Pulling up Red Carpet Offered to Wind Industry
Amid budget crunch, Oklahoma pulls up red carpet offered to wind industry, now considering new taxes.
Hydrocarbons are okay, but...
Thorium energy is the way to go, Mr. President, Thorium energy.
Drill, baby, drill!!
Paulie did you work at that nuclear plant they closed down a few years ago near Camp Smith north of NYC??
I am glad they are finally drilling like Bush proposed. They have postponed this for 18 years. Question: Why has gas risen 60 cents/gal. in the past three months? Approx. 30% in my area.
I googled “Thorium energy” and find it a very interesting concept. Who knows, it may take off as a viable competitor for oil.
But that does not matter, the lefties will fight it as they’d rather litter the landscape with solar and wind debris that are grossly inefficient, government subsidized, and cause consumer energy bills to skyrocket. All the while they can claim they are saving the planet.
The glass greenhouses we had in the fifties, the plants were inside the glass! ;^}
The weed obstructed solar panels pictured sorta prove this idea is not free, as it has got to be maintenance intensive.
The weed problem could be cured with a herbicide, BUT HEAVEN FORBID!!. So some millennial needs to be hired to manually trim weeds, oh, wait a minute, they do not do manual labor. But for sure, whether the panels are efficient or not the lefties get to feel good about saving the planet.
why have gas prices increased by 30% in your area recently ?
demand for gasoline is skyrocketing because of all those extenda cab F-150s folks been buying. Folks drives them trucks like 80 on the highway burning fuel like a crackwhore.
Not surprising, we have dramatically cut back on the number of refineries we have in this country. The number of working refineries I have in my head is so small that it can’t be right! So its likely that demand for refined gasoline is putting pressure on supply. The futures market is likely also still resisting lowering prices. I think the low number of refineries is the big issue. Oil straight out of the ground doesn’t just turn into gasoline. The good future for oil has only been since Trump has taken office give it time.
“Why has gas risen 60 cents/gal. in the past three months?”
Higher global demand, and restrictions on global supply by OPEC, Russia and a collapsing Venezuela. They are the big mid-term factors, that influence the most important near-term factor - how much inventory is on hand. Inventory of gasoline can vary independently of inventory of crude oil, in the short-term (weeks and months).
Growing US production is more of a mutli-year long-term factor on prices. The bottom line with that, is that market prices based on natural supply and demand will increasingly dominate over OPEC’s shrinking ability to control prices by throttling their production. It means that the long term average price will tend to gravitate around the “shale band” of $45-$65/barrel, instead of the artificially constrained OPEC price around $100/barrel.
Remember the generational ISIS problem Barry created? Another hold my Diet Coke Trump success.
When Barry preached we didnt make that how could he ever understand that we could fix anything?
Demand is up?
It’s all about BTUs! The form of energy which has the lowest cost to provide with the highest BTU’s wins. (Except when outside forces disrupt).
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