Skip to comments.Why not embrace America's oil and gas boom to revive the moribund economy?
Posted on 09/28/2011 7:19:27 PM PDT by MinorityRepublican
Over the past three years, we have seen a dramatic rebound in Americas oil and natural gas production after a hiatus of almost 40 years. This has occurred despite falling output in Alaska, the moratorium on deep-water drilling imposed in the wake of the Gulf of Mexico oil-rig blowout last year, and extremely low prices for natural gas. New technologies for extracting oil and gas from deep under the ocean floor as well as shale formations have been largely responsible for the countrys fossil fuel renaissance.
All this is good news for Americas consumers. Though gasoline and diesel prices have jumped 25 percent over the past year, absent the 11 percent increase in oil production from U.S. fields, consumers might be paying even more. At the same time, falling oil imports chopped about $20 billion off Americas trade deficit last year. Abundant new supplies of natural gas at low cost have reduced the home heating and electric bills for millions of American households.
In a sluggish economy, energy-producing states like Texas, Oklahoma, Arkansas, North Dakota and Louisiana are benefiting from the job and income growth associated with the resurgent oil and gas sector. Each of these states currently posts unemployment rates below the U.S. average of 9.1 percent and each has posted job gains over the past year, led by energy.
(Excerpt) Read more at thehill.com ...
Um, because that's not what this administration WANTS?
but did you ever hear of salazar?
Why not indeed.
Soros is happy too.
I think John Galt got nailed by a black helicopter.
Looks like old Bernie has almost, but not quite, discovered that drilling, mining and logging are wealth multipliers. Good for Bernie. Shake Bernie out of his sertra mattress and make him lie under it. He might experience patriot satori.
In my humble, but ALWAYS correct opinion, the primary reason we should embrace ANY oil boom is to provide abundant Jet Fuel so the “Greenies” can easily travel around the world to protest the drilling for oil that provides them with abundant Jet Fuel to - - - - . Darn! I forget where I was going with this!
Hmmmmm- - - . Oh yes, the world runs on oil. Yes, but - - - well, maybe I’ll try again tomorrow. It really was a great idea.
Let’s see now, 10 times the power of dynamite, plastic, chemicals, diesel for john Deere tractors, trains - - - . Darn, I hate when this happens!
Throw out the Democrats out of the Senate and elect a Republican President and retain control of House and gain control of Senate, then we may be able to drill again, revive industry and improve the job situation. It will only get worse if Obama is re-elected.
And that's not including increased interest in using Sasol's coal-to-liquid technology to produce motor fuels, especially given the gigantic amount of coal still available here in the USA.
I used to ask why also. Then I realized, that the rest of the earth is depleting theirs and by the time we need it for WW3, we’ll be sitting fat and happy.
At least that is what I tell myself to try to make sense of nonsense.
You have things “turning to the right!”
The problem is that each Debtocrat from Truman on have tried to regulate, control and destroy an industry. The Oil Patch was almost Nationalized under FDR, and now Obama is trying it again. If BP’s blowout had instead been an American “Big Oil” company You Lie Obama would have Nationalized the whole USA Oil Patch.
Debtocrats hate financial success. There is the Oil Patch and Silicon Valley as the last two industries standing.
KM* put it this way: FROM EACH ACCORDING TO HIS ABILITY, TO EACH ACCORDING TO HIS NEED.
Well, that was a little to blunt for You Lie so he changed it up a little:
I am driven by a need to help.
I know that wealthy people do not need help.
I know that poor people do need help.
So the sooner that I can make the wealthy people poor,
The soon I can help them.
I have it from a reliable source that Obama’s entire Cabinet, staff, and all Career Debtocrats, must face The Oval Office at exactly 8 AM District of Corruption time, and repeat the above Obama Oath.
The old Debtocrat phrase was “re-distribution of wealth.”
Careful, you are sounding like one Sarah Palin.
States profit likewise, but you know, that oil is so dirty. So lets keep importing it from some countries that hate our guts and use the money paid them to promote and finance terrorists to kill Americans.
This is all crap.
There is no boom. There is only redefined words.
US Crude and Condensate production is about 5.4 million bpd. There is a campaign underway to aggressively lump in All Liquids to drag that number up, even though the liquids added do not contain anywhere near 5.6 million BTUs of energy per barrel. Among these liquids just recently is “biofuels” which some hypesters are defining to include Ethanol, which has only 50% of that 5.6 million BTUs.
You can’t put a barrel of *stuff* with less than 5.6 million BTUs into a refinery and expect the same number of gallons of gasoline to come out as if it was crude. PHYSICS IS THE FINAL DECISION MAKER. You can’t wave your hand and make physics go away.
The number is 5.4 million bpd. It was about 9.8 million bpd in the 70’s and it is NEVER going back to that level. It is down almost 50% from there and it is *relentlessly* falling.
There is nothing you can do about that other than lie and cheat and redefine liquids.
This is not politics. Physics does not care about politics. It does not care if you’re an environmental whacko or a red meat drill baby drill lectern pounder. It only cares about that thin 1-5 mile shell around the planet which is the depth in which oil can exist, but at every single locale it might not. Once you drain it all, the game is over.
PHYSICS DOESN’T CARE. Don’t play the game “Well, it may run short sometime, but not now.” There is nothing special about you or your years of life. Physics doesn’t care about you. There is no law of the universe that says you get to live your life with enough oil.
Maybe, this idea will fix things.
There recently was an article in the St. Petersburg , Fl. Times. The Business Section asked readers for ideas on: “How Would You Fix the Economy?” I think this guy nailed it!
Dear Mr. President,
Please find below my suggestion for fixing America ‘s economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the “Patriotic Retirement Plan”:
There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Forty million job openings - Unemployment fixed.
2) They MUST buy a new AMERICAN Car. Forty million cars ordered - Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.
It can’t get any easier than that!!
P.S. If more money is needed, have all members in Congress pay their taxes..
Mr. President, while you’re at it, make Congress retire on Social Security and Medicare. I’ll bet both programs would be fixed pronto!
But but but, what about the GoreBullwarming (and the idiot GOP candidates who believe in it)?
The rich envirowackos who own the Democrat Party, hell own the whole damned country now, say no (nicht!) That’s why.
Now that’s funny. I resemble that thought process.
Old, but a good idea.
And it had better start with new -- a lot of new -- refineries...
Then I realized, that the rest of the earth is depleting theirs and by the time we need it for WW3, well be sitting fat and happy.
Except you can look outside your window and see that the opposite is true. Even this article says that what you posted is 180 degrees out of phase with reality.
Winning wars isn't just about energy. Through a seance ask Saddam how that worked out for him - he had all the oil, we had all the weapons, we just had to make Kuwait surrender fuel to us.
In an energy based industrial economy, cheap energy, no matter the source, produces wealth. Since it was cheaper to suck up the oil that oozed out of the ground from the ME rather than frac our own sources, or combat expensive litigation and regulation domestically, the West grew the Middle East and look what they did with the money - they bought bling.
China, OTOH, has used cheap energy to assume the premier role as world's number one manufacturer, from that they lend to the US and our interest payments to China alone will soon eclipse what we budget to build our own military.
Granted, you need fuel for your army and navy, but you need the wealth to build that army and navy first. Then when you plop down a quarter billion soldiers in a sandbox half a world away, you can intimidate and scavenge whatever fuel you need.
I don't want to live in poverty waiting for WWIII so that we can lose it all anyway because the current oil producing nations used their oil derived money to buy out our manufacturing base and build their own armies.
Cut the rules and regulations on drilling for oil and other natural resources. It would be good news for the United States and bad news for our enemies. We have an enemy of our own country as president. Obama has got to go.
You missed the satire in my post, as evidenced by the bottom sentence. I should have added a :)
Because commies hate economic growth.
You missed the satire in my post, as evidenced by the bottom sentence. I should have added a :)
My apologies. That sentiment has passed through FR several times before. Need to keep the ideological purity levels up ;)
But how are we going to fund the Arab’s weapons purchases to be used against Americans and Israelis if we produce our own oil?
No problem. Though not a frequent poster, I have been here many, many years, and know that to which you refer.
Oil and gas are not fossil fuels.
People need to answer back to people who ask stupid questions like this -
YOU’RE ASSUMING THEY WANT THE SAME THING THAT YOU DO!
They don’t. They want to bring down capitalism in America, and the best way to do that is to make energy too expensive and hard to get.
I read a better word than “greenies” recently.
The State Department is sitting on a simple solution that will create U.S. jobs and increase the supply of energy to the U.S. Help make them do it.
The Keystone XL is a $20 billion private investment by an American corporation, TransCanada. It will bring oil from Canada, Montana, North Dakota, Oklahoma, and Texas to U.S. refineries for use by the American market.
This is a good deal for the American public that could help us. Take action now and help make Secretary Clinton authorize the Keystone XL.
The 80-20 rule remains inviolate. 80% of the people own 20% of the money. Therefore, 20% of the people own 80% of the money. You could put the money all in a pile and redistribute it equally but in 5 year the same ratio would again exist.
All the oil in the world isn’t a good deal if it contaminates your water and food, such as the Ogalla aquifer. Many residents and most farmers in that area that depend on that aquifer, want a segment of the pipeline moved to avoid the potential disaster.
Energy independence is somewhat of a misnomer today because the energy companies will ship gas or oil to China or to any other country that pays the most. When energy went to global markets the oil that we produce is not dedicated to the USA. It goes into a big global pot.
There is a whole other issue not considered by any of the economists. That is that in most of the Great Plains states, groundwater is used to grow the crops. That water is being depleted and not replaced. Using water to grow crops to produce vehicle fuel(ethanol) is a waste. Here are some references:
http://www.choicesmagazine.org/2003-1/2003-1-04.pdf (Conserving the Ogallala Aquifer: Efficiency, Equity and Moral Motives)
http://www.uswaternews.com/archives/arcsupply/3scisay2.html (Scientists say drought accelerating depletion of Ogallala Aquifer)