Posted on 04/24/2018 11:09:46 AM PDT by Berlin_Freeper
It is a perfect system, regardless of what the humans say.
The four affiliated tribes has put a stop to the burning off the natural gas on reservation ground. MCKenzie county nd
They want the money
Yeah, then why is the price of gas going up?
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Goes up this time every year as refineries go offline for repairs and to switch from Winter blend gas to Summer blend.
Interesting.
Tribes get a cut from the oil extraction on reservations. They get quite rich. They are always going on about the ‘sacred land’, the ‘spirit’ of this or that, but they know that todays extraction uses technology that does zero harm to the environment.
But they like money.
The natural gas comes up with the oil, it is mixed in with the oil. So the gas has to go somewhere.
I think the tribes are shooting themselves in the foot. There’s plenty of oil in that region of ND that is not on tribal land.
Keep me posted pls.
How about this: Buy the imported oil when it is cheap & then sell it back later to the same people when it is higher & they need it? Is that a possibility?
Saudi Arabia is the linchpin of OPEC and they are now facing real threats from Iran. Because of that they need the USA more than ever, so not only are they trying to relax and change their own draconian laws they must do things that do not piss-off President Trump. They are facing a President they have never seen before; one that will do exactly what he says, so they cannot try to destroy our part of the oil market without cutting their own noses off.
From what I have read and have been briefed the Russians really need at least $80/barrel to fully fund their country, especially their military. A couple reports I saw stated they needed $100/barrel. All these new weapons they are claiming are not real as they do not have the money to fund such weapon systems and as long as we can keep the price of oil down they cannot develop much of anything that can hold the US in danger.
Never forget that America imports crude oil and exports gasoline, fuel oil, plastics, lubricants, waxes, etc.
“explorers discovered 80 billion barrels of oil off the coast of Bahrain ....”
For some perspective: the Alberta oil sands contains reserves of about 2 trillion (that’s with a “T”) barrels.
That’s why the oil sands have been such a target of ... just about all the usual suspects.
Just drove from Austin to Rudioso NM...looked like they were fracking old wells....
In the bad old days, the Ted Kennedys of the government optimized US policy to minimize US gasoline prices in the short run.It did so by imposing price controls on US producers, and averaging the (artificially low) price of US petroleum with the artificially high OPEC price. And forbidding export of US petroleum.
That was the optimum short-run solution for the US consumer - and also the optimum strategy for the benefit of OPEC. It meant no downward pressure on the world price due to US production, and minimized incentive for US consumers to conserve due to the OPEC price.
That policy is now eliminated entirely, with the effect that nothing the US government does helps OPEC or harms US production. The result is that US production is incentivized, and US production presses down on the oil price not merely in the US but the worldwide price. But of course US production, big as it is, is a smaller percentage of the global market than of the US market, so whatever upward pressure OPEC generates affects the US market more directly than in the past.
There would be an argument to be made for finding a mechanism whereby the US government helped put a floor under US oil prices such that US producers would face less risk when increasing their drilling. Perhaps releasing Strategic Petroleum Reserve supplies now, and saving the money to buy oil to replenish the reserve with US oil when the price has declined.
Remember how they mocked Sarah Palin for “drill baby, drill”?
How wrong they were.
Mr. President, please release the strategic oil reserves now; the fuel prices are crippling us!
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