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The United States became a net oil exporter last week for the first time in almost 75 years, a significant step toward achieving “energy independence and dominance,” as promoted by President Donald Trump. The United States had been a net oil importer since 1949. In the last week of November, however, weekly U.S. net imports of crude oil and petroleum products fell to minus 211,000 barrels per day (bpd), meaning the country became a net exporter of that amount, according to data from U.S. Energy Information and Administration. The news came on the back of a surge in crude exports...

This is terrific news for American workers and consumers… Unless, of course, Democrats ever regain control of government. Science Daily reported: Today, the U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources. “Christmas...

The federal government has discovered a massive new reserve of oil and natural gas in Texas and New Mexico that it says has the “largest continuous oil and gas resource potential ever assessed.” “Christmas came a few weeks early this year,” Secretary of the Interior Ryan Zinke said of the new reserve, which is believed to have enough energy to fuel the U.S. for nearly seven years. In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids, the Interior Department’s U.S. Geological...

WASHINGTON — The Trump administration on Thursday published documents detailing its plan to roll back Obama-era protections for the vast habitat of the greater sage grouse, a chickenlike bird that roams across nearly 11 million acres in 10 oil-rich Western states. The earlier proposal to protect the bird, whose waning numbers have brought it close to endangerment, was put forth under the Interior Department in 2015 and set out to ban or sharply reduce oil and gas drilling in 10.7 million acres of its habitat. The Trump plan, by contrast, would limit the grouse’s protected habitat to just 1.8 million...

Oil prices crashed early Thursday OPEC did not reveal a solid agreement in Vienna, at least not yet. After hours of meetings, OPEC cancelled its news conference, awaiting the Russian delegation set to arrive on Friday. The oil price crash offers the group a reminder that the market is banking on a sizable cut. OPEC met on Thursday and Russia’s oil minister Alexander Novak arrives on Friday, where he can essentially tell Saudi Arabia what to do. The rest of OPEC, save for the UAE and Kuwait, are either unable or unwilling to go along with production cuts.

FAIRBANKS, Alaska — It is the last great stretch of nothingness in the United States, a vast landscape of mosses, sedges and shrubs that is home to migrating caribou and the winter dens of polar bears. Aside from a Native village at its northern tip, civilization has not dented its 19 million acres, an area the size of South Carolina. There are no roads and no visitors beyond the occasional hunter and backpacker. But the Arctic National Wildlife Refuge — a federally protected place of austere beauty that during a recent flyover was painted white by heavy snowfall — is...

The Trump administration took a major step Friday toward allowing testing for offshore oil and natural gas under the Atlantic Ocean... The announcement is an early step toward potentially allowing offshore drilling in the Atlantic for the first time in decades.

Qatar will leave the Organization of Petroleum Exporting Countries as of next month, its energy minister told media today, adding that the decision was part of a long-term strategy for growing its international presence on energy markets with a focus on gas. Qatar is the world’s largest exporter of liquefied natural gas, but it has Australia breathing down its neck as well as emerging competition from the United States and other, smaller, producers. “Qatar has decided to withdraw its membership from OPEC effective January 2019 and this decision was communicated to OPEC this morning,” Saad al-Kaabi said, as quoted by...

Good morning, its time for solid news instead of political Kool Aid. The US military has attacked Syrian army positions in Eastern Syria with 14 missiles, that's the world from Syria's defense ministry...... To the rising tensions over Brexit in the UK. The opposition Labor Party says the country faces a constitutional crisis if the Prime Minister does not reveal the legal advice she has been given by the Attorney General about Brexit..... Nigel Farage went on his radio show Sunday and he took time out from opposing Mrs. May's Brexit plan to trash the political party of Brexit he...

The world's biggest narcissist has burned through his meager reserve of quietude. He cannot stand the adoration being heaped upon his successor and has bolted from the tradition of past Presidential dignity and restraint from comment. He wants you to notice him again. His ego is four quarts low and needs refilling. He wants you to know that he deserves the credit for things he didn't do. He wants you to believe that he is responsible for America being the world's leading oil producer. https://twitter.com/tomselliott/status/1067746578226704384O.M.G. obama blocked offshore oil drilling in the Atlantic and the Arctic. obama was against fracking....

Mexico’s state oil company Pemex said it produced an average 1.76 million bpd of crude in October, down 7 percent from October last year, Reuters reports, citing data released by the company. This is also one of the lowest monthly production rates since 1990 when records began. The decline was attributed to the natural depletion of mature fields, highlighting the urgent need for new production in the country. The outgoing government of Enrique Pena Nieto launched a sweeping reform in Mexico’s energy sector, one of its aims being to open up the local oil wealth to foreign operators in order...

On FBN (Maria Bartiromo Morning Show), the business panel outlined the clever moves made by POTUS, Donald J. Trump to push the Saudi's to lower oil prices as punishment for their "murder incident in Turkey". As a result of this artful move, Trump forced the Russians, the Chinese, the Iranians to follow suit...and low and behold the American nation now has much lower (10-20 dollars a barrel lower) oil prices for the "Holiday Season"!!! Shucks it's like another healthy tax cut for the American taxpayer during the Holiday Season!!! Of course the "Fake News Media" has nary a clue and...

Iran’s president Hassan Rouhani said on Monday that the country will continue to export oil despite fresh U.S. sanctions, which he described as “psychological war doomed to failure.” “We will not yield to this pressure which is part of the psychological war launched against Iran,” he said on state TV. “They have failed to stop our oil exports. We will keep exporting it ... Your regional policies have failed and you blame Iran for that failure from Afghanistan to Yemen and Syria,” he added, to chants of “Death to America!”. Rouhani also said that the U.S. lacked international support for...

Prime Minister Viktor Orbán discussed Hungarian-US relations and central Europe’s energy supply with United States Energy Secretary Rick Perry in Parliament on Tuesday, his press chief told MTI. Prime Minister Viktor Orbán discussed Hungarian-US relations and central Europe’s energy supply with United States Energy Secretary Rick Perry in Parliament on Tuesday, his press chief told MTI. The meeting, which was also attended by David B. Cornstein, the US ambassador to Hungary, Foreign Minister Peter Szijjártó and Antal Rogán, the cabinet chief, also covered general political issues, Bertalan Havasi said. Parties at the talks agreed that historical traditions and Christian roots...

A special European Union initiative to protect trade with Iran against newly reimposed U.S. sanctions faces possible collapse with no EU country willing to host the operation for fear of provoking U.S. punishment.

Crude oil prices crashed yesterday, losing 7 percent in just one day, which was the biggest daily loss in three years and today continued down in early trading as headwinds overwhelmed any bullish factors. After a rather rocky start to Wednesday trading, oil prices managed to tick upward, with WTI trading at 2.32% by 10:14am EST. Brent had rallied 2.63% to trade at $67.19 at the time of writing, despite pressure by a vicious combination of demand outlook, oversupply concerns and a couple of other factors such as President Trump’s call on OPEC to keep production at current levels.

Canadian oil prices briefly plunged as low as $15 per barrel last week, after a U.S. federal judge blocked the construction of the Keystone XL pipeline. Canada’s oil industry has lurched from pipeline crisis to pipeline crisis, with projects blocked at every turn. Just a few months ago, the Trans Mountain expansion – a proposed pipeline to be built from Alberta to the Pacific Coast – also ran into trouble and is now ultimately in doubt. The inability to build new capacity capable of shipping higher levels of oil out of Alberta has crushed Western Canada Select (WCS), a price...

Colombia’s Cano Limon crude oil pipeline that can transport 210,000 bpd of crude has been bombed again, for the 78th time since the start of this year, Ecopetrol, the state oil company, said, as quoted by Reuters. Previous attacks have been blamed by the Colombian army on a rebel group, the national Liberation Army, or ELN, which is considered a terrorist group by the European Union and the United States. The pipeline was not operational at the time of the attack, which is the second in as many months. In September, Reuters reported that the pipeline was bombed again in...

U.S. District Judge Brian Morris has just ordered a halt to the construction of the $8 billion Keystone XL Pipeline, the next phase of the massive pipeline system, until further environmental analysis is conducted. The judicial #Resistance move is not surprising, as Morris is a liberal who was appointed by Obama in 2013. Interestingly, this move is likely to hurt Canadians more than the U. S. Ensuring at least one pipeline is built is critical to Prime Minister Justin Trudeau’s plans, as there is a Canadian election expected next year. Canadian officials are scrambling to find other ways to move...

The U.S. will become a net exporter of oil if our production of oil increases again as much as it has since last December. It's increased TWO MILLION barrels per day, or over TWENTY PERCENT. What truly astounded me when I saw this week's data was that the price of oil has been crashing. That tends to depress production by making more expensive means of oil production less profitable. And well, I've never heard oil professionals put it in such terms, but not extracting oil is one way creating a reserve; you never want to sell a non-spoiling commodity at...