Posted on 06/29/2017 9:54:10 PM PDT by Olog-hai
The Trump administration said Thursday it is taking steps to expand oil drilling in the Arctic and Atlantic oceans as President Donald Trump continues to push for U.S. “energy dominance” in the global market.
The Interior Department is rewriting a five-year drilling plan established by the Obama administration, with an eye toward opening areas in the Arctic and Atlantic oceans that now are off-limits to drilling. It’s one of six initiatives that the president unveiled Thursday in hopes of generating more energy exports and jobs.
“The golden era of American energy is now underway,” Trump said in a Thursday speech at the Energy Department. “And I’ll go a step further: The golden era of America is now underway, believe me. And you’re all going to be a part of it in creating this exciting new future.”
U.S. oil production has boomed in recent years, and exports of oil and natural gas are surging, primarily because of improved drilling techniques such as fracking that have opened up production in previously out-of-reach areas. Trump has pledged to ramp up production further, withdrawing from the Paris climate change agreement because of the limitations that it could have placed on the burning of fossil fuels. …
(Excerpt) Read more at hosted.ap.org ...
They should just drill it without blasting the news all over. Ask this news does is lower the oil prices.
Most of the country approves of this. Only the media and DNC have a problem with it.
Drill Baby Drill! Repeat often!
I believe Pres. Trump is also seeking to increase energy production via gas and fracking.
And massive petrochemical plant construction....making basic feedstock for the plastics industry
This year, construction will begin on the Shell Chemical Appalachia LLC petrochemical plant in Beaver County, Pennsylvania, raising hopes for downstream opportunities in West Virginia.
Port Corpus Christi The project is expected to create 6,000 construction jobs and 600 permanent jobs, as well as $50bn (€46.5bn) in economic gains for the state in its first six years.
A massive plastics and petrochemicals project shared by ExxonMobil Chemical Co. and Saudi Basic Industries Corp. is heading to Corpus Christi, Texas.
The site would include the world’s largest ethylene cracker, with annual capacity of almosy 4bn pounds, as well as downstream units making polyethylene resin and other products. The site will cover 1,300 acres and represents a $10bn (€9.3bn) investment by the two firms.
In a news release, the project was described as “a unique opportunity created by the abundance of low cost US natural gas.”
The first of several petrochemical plants coming online this year became operational last week when Houston-based Occidental Petroleum opened its new facility near Corpus Christi.
The $1.5 billion ethylene plant in Ingleside is a joint venture between Occidental's OxyChem subsidiary and Mexico-based Mexichem. The facility, called an ethylene cracker, takes ethane from natural gas production and converts it into ethylene, which is the primary building block for most plastics.
The project is the smallest and first of several Texas Gulf Coast ethylene crackers being completed this year. Others under construction include Exxon Mobil plants in Baytown and Mont Belvieu and Chevron Phillips Chemical in Baytown and Old Ocean. The larger Exxon Mobil and Chevron Phillips projects each involve investments of about $6 billion.
Occidental's plant will annually churn out 1.2 billion pounds of ethylene, much of which will be turned into vinyl chloride monomers, which Mexichem will then convert into polyvinyl chloride to make for PVC piping and other products.
That’s fantastic. All those jobs. I didn’t know any of this, since I rarely get a paper anymore or watch TV.
Put them all off the coast of MA, RI and CT.
Winning!
By Michael Birnbaum April 1, 2013
LUDWIGSHAFEN, Germany — The sprawling chemical plant in this city along the Rhine River has been a jewel of Germany’s manufacturing-led economy for more than a century. But the plunging price of natural gas in the United States has European companies setting sail across the Atlantic to stay competitive.
German chemicals giant BASF, which operates the plant here, has announced plans for wide-ranging expansion in the United States, where natural gas prices have fallen to a quarter of those in Europe, largely because of American innovations in unlocking shale gas.
Among those most affected are energy-intensive industries such as steel and chemicals, (and glass production)...because they use natural gas as a raw material and power source. With Europe lagging in energy production, manufacturers on the continent warn that a chain reaction could shift more and more investment to U.S. shores.
Glass...China is worlds biggest supplier of float glass...agricultural glass cladding for buildings
Expect to see Chinese companies set up shop in USA.
Chemicals: Natural gas is an important feedstock for chemical companies, so lower natural gas prices have boosted margins and earnings. This boost is evident in the price appreciation of the biggest chemical manufacturers since March 9, 2009, when the bull market commenced. As of mid-May 2016, Dow Chemical had surged 700%, Eastman Chemical was up 673%, and Du Pont had gained 310%.
Fertilizers: Fertilizer manufacturers are the most intensive users of natural gas in the U.S. While they have gained from its low price, however, this benefit is outweighed by the slowdown in China, the world's largest importer of fertilizer. As a result, leading fertilizer makers like Mosaic Co. and Potash Corp. are down more than 33% since March 2009, although rival CF Industries has bucked the trend with a 125% increase.
Meet the Chinese Billionaire Who’s Moving Manufacturing to the U.S. to Cut Costs
Kevin Lui Dec 21, 2016
While it has been said for a long time that the U.S. is bleeding manufacturing jobs overseas, particularly to China, some businesses have been moving operations the other way round.
And now, the head of a leading Chinese glass maker making the same move has openly questioned if his country really is such a lucrative destination for offshore factories, reports Hong Kong newspaper the South China Morning Post.
"Overall speaking, the tax burden for manufacturers in China is 35% higher than in the U.S.," Cao Dewang told China Business Network in an interview. He added that a combination of cheap land, reasonable energy prices and other incentivesmeans that, despite higher manufacturing costs, he can still make more money by making glass in the U.S. than by exporting Chinese-made panes to the U.S. market.
Thanks for posting
And taking that money back to China with him; profits that will leave the U. S. and make the Chinese wealthier. Don't get me wrong; I'm happy to have the jobs and the manufacturing back. But it ain't all skittles and sunshine.
With the overcomputerized fuel injection systems, a big block could end up with 1,000 horses easily, although it’d be a mean trick to make that street legal. (500 horses is nothing for today’s small blocks.)
Yes, you can produce a lot of ponies in a small block, but there is nothing like the growl of a Big Block. Thank goodness that Dodge is putting 392 big blocks in Challengers and Chargers. A shaker hood scoop, supercharged and naturally aspirated, I am looking forward to finding one for a project car in a few years.
The 1964 Corvette 327 with mechanical fuel injection got up to 396 horses, so it was always possible to have high HP with small blocks. But the bigger engines are always going to be more muscular and powerful by default. The first year the Corvette had the big block, it was the 396 with 425 horses.
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