Posted on 01/17/2014 6:14:43 AM PST by thackney
The United States is suddenly awash in crude oil. From 2008 to 2013, domestic oil production rose by 2.5 million barrels per day — the biggest five-year increase in the country's history. Last year, U.S. produced more oil than it imported for the first time since 1995.
So what does that mean for the rest of the world? Or for U.S. foreign policy? Well, for starters, it probably doesn't mean that Americans can now safely ignore the Middle East. The U.S. economy is still heavily reliant on oil, and prices are still largely swayed by what goes on in the global markets. Disruptions in places like Saudi Arabia, Iran or Iraq still have a big impact. That's one conclusion of a major new report by a commission of former generals and senior officials, backed by Securing America's Energy Future (SAFE).
"The oil boom has sparked a lot of loose talk about how we can now ignore what goes on in the Middle East," said Adm. Dennis Blair, a former director of National Intelligence who led the commission, in an interview Tuesday. "But that's just not true."
Blair pointed out that the oil boom has already had some impact on U.S. foreign policy. For example, increased North American oil production likely allowed the United States and Europe to impose stricter sanctions on Iran without worrying as much about resulting price spikes. There are also early, tentative signs that China could become more cooperative on Middle East issues now that the fast-growing nation has displaced the United States as the biggest oil importer from the region.
But what's arguably more telling is how much hasn't changed.
(Excerpt) Read more at washingtonpost.com ...
This is DESPITE Obama's policies, not because of them.
Keep that in mind when you hear some left wing hack journalist or DemocRAT politician (but I repeat myself) try to heap praise on Obama for this development,
Can you go into detail how so? What polices are hindering and what has the oil industry done to mitigate?
I am curious because I hear this all the time and I would love specifics to counteract the propaganda
By opposing the Keystone XL pipeline.
By prohibiting fracking on public lands
Here's just one source to whet your whistle westernjournalism.com Obama's Anti-Drilling Policies Stifle Job Recovery
To mitigate, they drill offshore in Brazil and other countries.
Hey Obama, see that oil boom over there, you didn't build that!
Excellent!
Free Trader Communists will find a way to stop or slow down US oil and gas production
You think the same Free Traders...who believe Communist China makes things better than the USA...will allow the USA to be self producing on oil? Heck no
Just recently, Saudi Prince Alwaleed bin Talal, part owner of Fox News, was crying about US oil production. Fox News is quite Liberal Free Trader Communist
You can bet the Free Trader Communists will whine “protectionism” if we get away from foreign oil and go strictly domestic
What I'd like to know is why in Sam Hell I'm still payin $3.05 a gallon for regular unleaded.....and that's down here in Houston, Texas.
We refine the stuff here! We ought’ah get first pick as it's piped outta the state.
Prohibiting oil exploration in the Gulf of Mexico. Actually, Obama stopped all off shore drilling for about a year until the new offshore standards were set, so drilling is not prohibited in the GOM.
ANWR-That was prohibited long, long before Obama came along.
California- All states have the prerogative to say no to offshore drilling and it has been that way since 1954. California did allow drilling in both state waters and federal waters until the Santa Barbara spill when they stopped it. But all those existing platforms and oil islands were grandfathered in and they are allowed to drill(and frack). Did you know that the Clean Water Act doesn't apply to offshore drilling.
Most coastal states have a significant coastal economy that also generates tax revenue. These states don't receive a penny of royalty from oil produced in federal waters, but an oil spill on their coast will shut down the coastal economy. Offshore drilling is the exception, only 5 states allow it. Even Virginia's possible willingness to allow offshore drilling is predicated on Virginia getting a share of the federal royalty, and that they drill only for natural gas, and that all drilling is beyond 50 miles.
Opposing Keystone pipeline. Not as yet. Keystone ran into a firestorm in Nebraska over the original route, had to change the route and do another EIS, which hasn't been completed. Lots of people think that it will be approved.
Prohibiting fracking on public lands. Not true. Obama has said that there are a few states with lax fracking regs and what he has proposed is not much different from Texas. He opened the Monterey Shale(BLM) in California to drilling and fracking because he sees CA's fracking regs as adequate.
What has he done? Why are the enviros mad at Obama.
He opened the Chukchi and Beaufort seas up there in the pristine Arctic to drilling. Here's another way of looking at it. If Congress or Obama were to open ANWR to drilling, Alaska would get 90% of the royalty and the feds would get only 10%. But drilling Chukchi and Beaufort, the feds get 100% of the royalty.
Then Obama opened additional areas in the Alaska Strategic Reserve to drilling. Now that Alaska has canceled Palin's oil tax, maybe the oil companies will start drilling on state lands in Alaska?
What Obama did in California infuriated the enviros and nimbys. He first opened a small portion of the Monterey Shale to drilling in 2011. This is a large area where the BLM owns the mineral rights and the surface area is privately owned. Then in Dec 2012, after he had won re-election in Nov, Obama opened a much larger part of the Monterey Shale to drilling and fracking. The enviros think he stabbed them in the back. Obama wanted to get re-elected and didn't want to alienate any of the enviro voters.
For the last 60 years or so that the Middle East countries hated America for being in their back 40 acres supposedly exploiting their oil ? ( but yet ? awashed in all of that oil money ) just wait and see how they are treated by the Chinese.... SUCKERS !
To the extent that there has been any economic improvement at all, you can credit Texas, Wisconsin, Arizona and the other Republican run states.
Don't expect Ubama or any of his turd polishers to acknowledge that.
Well, you can leave Andrew Commo’s New York State out of that..... Parasite state.
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