Posted on 07/05/2017 4:35:10 AM PDT by IBD editorial writer
Natural Resources: Last week President Trump announced plans to make the U.S. not just energy independent, but a global energy powerhouse. Too bad everyone was hyperfocused on his tweets.
On Thursday, Trump said he was ushering in a new energy policy that marked an end to decades of fretting about an alleged "energy crisis" brought on by supposed limited domestic supplies and an insatiable demand for fossil fuels.
"We now know that was all a big, beautiful myth," Trump said in remarks at the Department of Energy. "The truth is that we have near-limitless supplies of energy in our country."
Trump had already taken several steps toward unleashing domestic energy supplies, but he announced six more that he plans to take, including reviving nuclear energy, lifting barriers to building coal plants overseas, building more energy pipelines — including one into Mexico — increased natural gas exports, and creating a new offshore-leasing program.
"The golden era of American energy is now underway," he said.
If that sounds overly dramatic, it isn't. Recent developments in drilling technology have made vast domestic supplies of oil and natural gas available for production. That, combined with the country's abundance of coal, means the U.S. could be a net energy exporter in nine years.
(Excerpt) Read more at investors.com ...
Use the royalty on oil and gas on federal lands to directly pay down the federal debt. DO NOT just add it the money Congress can spend
We have enough to outproduce oil-rich Arab countries- why do we keep paying people that hate us?
OK Unions- don’t screw this up with ridiculous demands that will put energy out of business like you did for steel.
We have enough to outproduce oil-rich Arab countries- why do we keep paying people that hate us?
OK Unions- don’t screw this up with ridiculous demands that will put energy out of business like you did for steel.
Mr. Trump very effectively deploys what others call the "Cheese in the Maze" stratagy.
Unions cannot/are not going to be a problem.
better yet - sell the federal lands to pay down federal debt
Maybe because some percentage of that money finds its way to "special places"?
Trump is the only adult in the room. He knows the kiddies will be distracted with a shiny new toy long enough for him to get his chores completed.
Or as a certain someone has called it, “Cheese in the maze.”
You miss the point.
Rather than engage in commercial war, we are engaging is alliance with some of the oil rich Arabs. We are creating or recreating old ventures that will be the controlling factors in world energy sales.
Why fight when there are deals to be negotiated, money to be made
NO no no. You return lands not given to the 12 Western States at statehood to those states, and the states will decide where the money goes. All offshore funds go to help pay off the debt, and if CA doesn’t want to drill offshore, they can be sold off to help. Just think, the sale would wipe out the debt, and the new owner/owners might want to remain a part of the Republic. A twofer.
Exactly! See which Congressmen belly ache the loudest about it then we will know who the Arabs are paying off.
Thank God
I don’t really understand the future of coal, because I don’t understand how it competes with natural gas. if someone could go into a little detail on that, I’d be grateful. (Sort of reminds me of Keystone XL...yes...it’s good that the government is out of the way. But that doesn’t mean it’s going to happen, b/c market forces are not adequate to make it happen....same with coal...at least that’s my analysis, but I’d sure like to hear a contrary view).
interesting points. However, why would federal lands belong to state government ? Isn’t it best just to get in private hands as efficiently as possible ?
I saw a map of all the known gas reserves in the country and the reserves cover most of the country. It was surprising how much of the country is in play for drilling. Almost all of it.
See post #5 ;-)
Supply and demand will still determine the market.
Right now global oil price is about $46.
U.S. Shale and gulf oil production costs very considerably depending on exact source. In the shale sector “breakeven” costs run from over $70 a barrel to about $30, depending on the source, and average at the various sources runs between $50+ and $40+. The Gulf of Mexico breakeven costs average between $55 and $45. Global demand will have to spike considerably, causing global average prices to increase, before major new capital investments in the shale and gulf oil sectors will pay off. There is so much global supply available, that the general demand line looks likely not to outgrow easily available supply. Production can grown to meet demand for quite a bit more before the gap between production costs in the U.S. and global oil prices changes much.
As a political note, the link below is the link Google put at the top of the search list when I asked for “current global oil prices” they even changed the title of the link to “Current Crude Oil Price Today - ucsusa.org, but the actual title of the linked page is: “Oil Is Changing”. It’s a hit piece on “dirty oil” by the Left wing outfit “Union of Concerned Scientists”.
http://www.ucsusa.org/clean-vehicles/oil-is-changing?gclid=COSp2fCc8tQCFU1WDQodSV0KIA#/.WVzmoelJnIU
A truly excellent idea, but I doubt that the Congresscritters have sufficient discipline to either implement or follow it.
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