Posted on 02/15/2018 6:01:03 PM PST by MarvinStinson
"We are running out of oil," US political leaders told us. "We can't compete with OPEC. We can't drill our way out of this."
In 2012, no less an authority than Barack Obama said that increased production by increased drilling – "drill, baby, drill," he called it – was not a plan, but rather "a bumper sticker." Obama assured, "We can't just drill our way to lower gas prices."
But widely unreported during the Obama years is that advances in two technologies most responsible for increased drilling efficiency – industrial fracturing (aka fracking) and horizontal drilling – were creating a revolution in the U.S. energy industry. Production became much more efficient.
Obama later tried to take credit for the results – conveniently leaving out that due to his extreme reluctance to permit drilling on federal land, all of the increase in production came from private and state-owned land.
The same goes for natural gas. The number of leases granted by Obama's Bureau of Land Management to drill for oil on federal land under Obama was far lower than any of the four previous presidential administrations.
In spite of Obama's restrictive energy policies, by 2015, the U.S. was the top producer of natural gas in the world, producing about 20% more than runner-up Russia.
Donald Trump arrived with a very different energy policy in mind from that of Obama. He wants to increase production by repealing Obama's fracking rules and make more federal land available for drilling – he even included opening up ANWR to drilling for the first time ever, as part of the tax reform bill he signed into law in December 2017.
As a result of Trump's policies, the U.S. is about to overtake Saudi Arabia and Russia to become the world's top oil-producer by 2019.
(Excerpt) Read more at americanthinker.com ...
I pointed out the same argument could be used for a farmer not planting fruit trees. After all, it will be years before they bear fruit.
Well, for what it’s worth: every time this British, Indonesian, Kenyan, whatever to hell he was, POS opened his mouth and flapped his lips, he was lying. Biggest lying impostor to ever hit America. Everything about the creep was one big fat lie.
So yeah, we drilled our way out contrary to what this usurping POS had to say. No surprise to me.
“Never trust Experts.”
Especially hafrican muslims with a fly on their lip.
Obama...the big, wrong talker.
Obama and the word expert should not be used in the same sentence. That is unless it is in reference to the words liar, traitor, or evil.
It was an intentionally unfinished statement...
Obama assured, "We can't just drill our way to lower gas prices as long as I am President!"
His supporters knew what he meant.
When my dog gives me that look, I quickly let him outside so that he doesn’t puke in the house.
When the man suggested we could deal with the energy crises by checking the air pressure in our tires, the entire nation should have realized he was an idiot.
For some reason the terms "ignorant" and "uppity" seem appropriate.
Yes we can, you dumb ****!
As to the lower prices?
Of course not, so long as you were president!
You TOLD us you would never allow it.
A self fulfilling failed attempt.
Na na na na na!
And Boo! Hoo! Hoo!!
That is what 0bama was doing. His tools were a phone and a pen.
Agreed
But like Satan himself
He has a silver tongue and can enthrall the masses with meaninglessness
Correct you are. It actually pains me to see our natural gas and oil being used to power electrical generation. Coal can do it and cheaper if the EPA gets off their ass.
Oil and gas should be used for fuel in transportation and chemical synthesis of many products. You can also synthesize this from coal but it is a more expensive process and much less efficient. Coal should be used for boilers to make steam to make electricity. It is good stuff, abundant and cheap.
Agree, but if coal were converted to liquid or gaseous fuel, the conversion plants could be located near the coal fields and the product cheaply piped across country. Savings on transportation costs could offset the processing costs.
P.S. I’ve read the break even price for coal to diesel is around $45/bbl of oil.
At the beginning of 2016, the national average price of natural gas was consistently below the cost of coal delivered to power plants, reaching a low point of about $16/MWh in March, while coal has averaged between $21/MWh and $23/MWh for the past two years.Nov 18, 2016
Coal to liquids based on the price of oil today is pretty damn close. However, the low price of natural gas actually keep oil prices low as opposed to the past little oil is used for generation of electricity. It is mostly natural gas closely followed by coal and distantly followed by nuclear energy. Natural gas and oil and coal are finite. However, coal is many times greater. Oil and gas will decline (not in my lifetime nor my children) and king coal will replace them. King Coal will eventually be replaced by nuclear or perhaps even fusion. It sure as hell will not be solar. Solar costs to damn much unless huge technological advances are made that reduce costs. I shall not even mention wind power as I do not do comedy.
It pains me greatly to see natural gas used to power electrical generation. It is the base product of most of our synthetics in chemistry. However industry is responding to rational market forces and these forces are far more logical and kind than government.
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