Posted on 12/25/2014 12:24:13 AM PST by Cincinatus' Wife
Texas has blessed the world with an incredible Christmas gift: plummeting oil prices. Both the production and the technology of fracking were substantially innovated and pioneered in the Lone Star state. The ramifications here at home and abroad are profound and incredible example of how innovation, property rights,and economic freedom trump the ugly agendas of statism. The gift of Texas oil is a gift that keeps on giving and stands in contrast to the lumps of coal dished out by the Federal government:...
Gift 1:A true economic stimulus. The drop in oil prices from over $100 a barrel to less than $60 a barrel constitutes the economic benefit that keeps on giving......
The first Federal lump of coal: overregulation. These gifts stand in sharp contrast to the antagonism of the United States federal government.....
...Gift 2:Global liberation. The sale of high priced oil represents the economic lifeblood of some of the most ruthless human rights abuses in the world. Whether the anti-Semitic mania of Iran, the terror sponsoring Sunni supremacy of Saudi Arabia, the child killing rogues of ISIS, the Arab supremacism of Omar Bashir in Sudan or the authoritarianism of Venezuela, high oil prices help fund the genocidal ambitions of outlaw regimes. Russia’s adventurism in Europe and Venezuela’s capacity to prop up human rights abuses in Cuba are now more constrained than they could be by American boots or cruise missiles....The president was wrong, we could drill our way to lower prices--and we have.....
..The second Federal lump of coal 2: Environmental starvation.
....Texas entrepreneurialism is what kept America out of a full-blown depression. Since 2008, Texas has produced more jobs than the entire United States--1.2 million. These accomplishments are despite a conscious effort to hurt the Texas economy through EPA regulation and the deregulation of human trafficking on the border with Mexico.....
(Excerpt) Read more at americanthinker.com ...
Only reason Texas doesn’t fall into the Gulf of Mexico is because Oklahoma sucks.
(I’m an Okie and still think that joke is funny)
“Dec 19, 2014 (Reuters) - U.S. President Barack Obama said on Friday that construction of the Keystone XL pipeline to transport crude oil from Canada to the U.S. Gulf Coast would only nominally benefit American consumers and workers in perhaps his strongest comments on the Canada-to-U.S. pipeline to date.
“There is very little impact - nominal impact - on U.S. gas prices, what the average American consumer cares about,” Obama told reporters during an end-of-year press conference.
Obama picked apart some of the most common arguments of its proponents: that it would create jobs, lower domestic gasoline prices and bolster the U.S. economy.
“There has been this tendency to really hype this thing as some magic formula to what ails the U.S. economy,” Obama said.”..................
http://www.reuters.com/article/2014/12/19/usa-keystone-obama-idUSL1N0U31W220141219
Dec 23, 2014 - “Man-made global warming is saving the Earth from “another ice age,” White House Science Advisor Eric Holdren says in a new video promoting man-made global warming theory:
“We know beyond any reasonable doubt that humans are the main cause of the warming of the earth’s climate that has been measured over the past few decades. The warming is unequivocal.
“While the climate of the earth has changed over the millennia as a result of natural factors – principally changes in the tilt and orientation of the earth’s axis and rotation, and in the shape of its orbit around the sun – those changes occur far too gradually to have noticeable effects over a period of mere decades. In their current phases, moreover, they would be gradually cooling the earth – taking us to another ice age – if they weren’t being more than offset by human-caused warming.” [end]
Merry Christmas!
In Cushing!!!
Gift 1:A true economic stimulus. The drop in oil prices from over $100 a barrel to less than $60 a barrel constitutes the economic benefit that keeps on giving......And yet the undertone of even some dimwits on Faux News think the sky is falling because of cheap energy.
The truth is THEIR (oil investment) sky is falling. If you want to find out where the greed is just listen to their comments on oil prices.
-------
Supply and demand.
Supply and demand.
Supply and demand.
Supply and demand.
Simple!
More gas and oil (global market) = cheaper oil and gas!
“Lower gas prices are filling stockings with a little more cash to spend on travel this year as travelers are expected to pay the lowest prices since 2009,” AAA President Marshall Doney said in a statement earlier this month. “Lower prices are increasing disposable income and enabling families to set aside money for travel this year.”
http://thehill.com/policy/transportation/228033-drivers-get-christmas-eve-gas-price-present
Total US Federal Debt by President (1940 to 2013)
LoL
Dalrymple said he expects oil production to increase by as much as 15 percent through mid-2017, generating around $8 billion in production tax revenue for the state.
The state’s budget for the next two years is based on a domestic crude oil price in the mid $70 range next year and closer to $80 beyond that.".......
Sliding oil prices leave socialist Venezuela on brink of financial collapse "........Where Chavez once drew praise from the world’s leftist elite for using the high price of crude oil during the 2000s to underwrite a socialist revolution, a growing number of analysts in Washington say Mr. Maduro is clinging to power in a country on the edge of becoming a failed state.
".....Venezuela still boasts some of the world’s largest known crude reserves, but it has continued for too long spending more on government programs than it has collected in oil revenue, analysts say. The average price of oil has dropped from more than $100 a barrel to less than $60 during recent weeks, only adding to Venezuela’s woes."....
Whatever else one might think of her, Sarah Palin was clearly right on this one (a pretty easy thing to be right about.)
More gas and oil (global market) = cheaper oil and gas!That's odd, the guy sitting in for Hannity's radio show the other day said the Saudis lowered the oil prices to get back at Putin.
When your economy basically depends on oil sales, lower prices are devastating to an economy.
The U.S. is in better shape too when we are not held hostage to oil from bad actor countries.
We use oil to rev up and power our capitalist economy.
"Drill baby, drill!"
There is two sides to the sword.
The February/March 90 day bonds that have oil peak price in them will be devastated if oil prices remain at this level.
This could cause a domino effect thru the markets and even into the Texas job markets. I have heard up to 160,000 jobs lost by second quarter of 2015.
Drilling, fracking and producing a well is expensive. At $60 and below, companies are cutting their budgets for next year. Meaning, less expansion. This means less equipment rental, less gravel being sold and quarried, less sand needed for fracking, so on and so on.
Trust me I am enjoying the low pump prices, but they do have a negative affect as well.
That is so correct in so many ways.
The way an economics professor explained to me. It is not the only belt on the pulley driving our production machine.
Meaning, if it slip, breaks or stretches the others will still keep on driving us along.
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