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...