Posted on 01/23/2017 12:32:21 PM PST by 2ndDivisionVet
US President Donald Trump has pledged to unlock a $US50 trillion ($66 trillion) shale oil and gas revolution and boost development of low emissions coal technology for electricity.
The Energy First plan was outlined as the top priority in President Trumps first action statement after being sworn into office.
The statement committed Trump to scrapping the Obama governments Climate Action Plan but did not mention renewable energy or whether the US would remain in the Paris agreement.
It was a full endorsement of the future use of fossil fuels. The Trump plan mirrors debate in Australia over energy security.
The federal government wants to overturn state moratoria on gas exploration.
And Malcolm Turnbull has said Australia should be a world leader in the development and deployment of low emissions coal technology and carbon capture and storage.
Trumps ambitions are to break US reliance on supplies of oil from the Middle East.
Over the weekend Mr Trump said boosting shale oil and gas production would increase wages by more than $30 billion over the next seven years.
Mr Trumps White House team will begin the rollback of Barack Obamas climate action plan by striking down a controversial climate metric called the Social Cost of Carbon.
The social cost formula was used to justify the cost of the Obama administrations environmental regulations. But the formula has been criticised as opaque and open to manipulation.
Mr Trump is also expected to move soon on issuing the executive order to end the carbon metric, while issuing a second order to remove regulatory roadblocks for approving trans-border pipeline projects such as the Keystone XL project to connect Canadas oil sands to US refiners in the Gulf of Mexico.
The Energy First statement said energy was an essential part of American life and a staple of the world economy.
The Trump administration is committed to energy policies that lower costs for hardworking Americans and maximise the use of American resources, freeing us from dependence on foreign oil, the statement said. President Trump is committed to eliminating harmful and unnecessary policies such as the Climate Action Plan and the Waters of the US rule, the statement said.
It said sound energy policy begins with the recognition that we have vast untapped domestic energy reserves right here in America.
Mr Trump said he was committed to achieving energy independence from the OPEC cartel and any nations hostile to our interests.
At the same time, we will work with our Gulf allies to develop a positive energy relationship as part of our anti-terrorism strategy, the energy statement said.
Mr Trump said the energy policy must go hand-in-hand with responsible stewardship of the environment.
“If we had Drill Baby Drilled when we could have just think where things might be today.”
Being that we live in the reality of markets.
Had we drilled more, the price of WTI would be at $52.76 at this very moment.
excellent post 11
And Malcolm Turnbull has said Australia should be a world leader in the development and deployment of low emissions coal technology and carbon capture and storage.
He is going to accomplish more to help Americans in the first week than Obama did in 8 years.
Another schnitzengruben? That should revive you!
The coal industry got killed world-wide because of environmental concerns. But we have a clean-burning fuel called LNG which is a suitable substitute for the coal that we presently use in power plants.
Additionally, the collection, distribution and foreign export of LNG vs. coal, is much more cost-effective for both supplier and customer. Per delivered BTU, customers will prefer LNG over coal and there is a world waiting on the other side of either ocean(Pac. & Atl.) for our precious energy just as they were for years, for Mideast Oil, and they also know that our energy supply is more reliable and cleaner than that from the M.E.
Win, win, win, make America wealthy again!!!
Low energy costs and plentiful oil and gas supplies gives a big boost to low cost feed stock for the plastics industry.
“Trumps ambitions are to break US reliance on supplies of oil from the Middle East.”
When you’ve got the deepest economy in the world, backed by the most abundant and enviable mix of natural resources, such things are not too difficult - we only have to defeat those among us who are unalterably corrupt, stupid and/or anti-American.
Yes. They are building a huge cracker plant in Beaver County,PA. I have already noticed the increase in truck traffic going by my house here in Washington County.
So awesome! Trump is already on his way to becoming the greatest president in a generation, by my reckoning
“Over the weekend Mr Trump said boosting shale oil and gas production would increase wages by more than $30 billion over the next seven years.”
Put an extra 500,000 guys to work nationwide, making an average of $30/hour (and that may be conservative, too), and you’re paying wages of $60 million/week. That’s $3 billion/year ($21 billion over 7 years) just for the direct wages - that doesn’t include the wages paid to those making the cars, clothes, appliances, electronics, boats, etc., etc., etc. that these guys and their families will buy.
It also doesn’t include any effect of cheaper energy (and with all of that extra supply, energy will HAVE to be cheaper). The decrease in this key economic input (perhaps THE key economic input) will be like a giant tax cut (on top of the one Trump wants to put in place). This will allow many more jobs to be created.
The actual number is likely a bunch more than $30 billion - but I can appreciate that they want to be conservative.
“They are building a huge cracker plant in Beaver County,PA.”
Oh, and in Beaver County - what a misogynist name, DEFINITELY don’t tell Rosie O’Fatso or that Madonna witch.
Somebody hook a brother up and teach me how to fund my retirement from all of this winning. If there is a class or seminar, I’ll take it.
73, weigh the same as when 18? Just shut up!
Food is cheap.
People like to eat.
People like sugar and they like fat.
Cheap food = people get fat.
Nowhere else in the world is food as cheap as it is in the United States (as a percentage of income).
Are you talking about a catalytic cracker, which would be an addition to an existing refinery?
I am not jumping up and down with joy until I see engineering companies in Houston do some hiring instead of just fishing for resumes.
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