Posted on 10/10/2014 8:41:17 AM PDT by Kaslin
From 2005 to 2008, John Hofmeister ran the U.S. operations for Royal Dutch Shell. Then he turned 60. The Dutch have a cultural thing about 60. John said it roots back to post-WWII, when too many “older” folk were clinging to their jobs, so the unemployment rate among the youth was unacceptably high. So, many companies mandate retirement at 60. Fortunately, John didn’t drift off-stage. In fact, he’s more visible and viable now than ever. Frequently on CNBC, CNN, Fox and many others, he stopped by our Dallas studios to join Chris Faulkner of Breitling Energy and me for Powering America this week. (It’s the October 6 broadcast here).
Some of the more interesting points John discussed on the show include: Advocating more choice in transportation fuel. Ethanol, Methanol, and Natural Gas to name a few. His main thought is to allow the consumer the choice, and let the United States competitive markets work out the rest. Even though alternative fuels aren’t as effective in BTU output (today) as gasoline, John feels consumer demand would drive technological development. Right now, we’re stuck, and no significant development or plan is in place. Without such, John sees potential gas lines, ah la Arab embargo days, potentially by the end of the decade.
Overall, the former Shell executive is very bullish on American energy and our domestic oil and gas development. He suggests if we would spend $1 Trillion dollars, funded privately, on our worn-out energy grid and power plants, we could increase our GDP to upwards of $25 Trillion a year, far ahead of the Chinese.
Gas prices? He feels prices under $3.00 are likely in many U.S. cities on the short term but this is not a new trend. Why? For one, he feels OPEC will cut production to keep oil prices north of $80/barrel. For another, the economic boost felt from lower pump prices will boomerang the other direction, thus ultimately increasing prices in 2015. So while weak international demand has impacted the market, and there’s a deleveraging working through the system as major banks curtail their commodities trading operations, John suggests you enjoy the reprieve, but don’t get too comfortable with it. (John’s latest gas prices comments on CNBC are here)
Indeed it could. But the enviros and Obama's minions don't want it to happen for a multitude of reasons of which most if not all are bogus. Their goal is to reduce the US to a third-world country with regulations on any type of expansion which is good for the common man.
So why do you think BO's regime continues to close power plants and block the Keystone Pipeline?
Lieutenant just got promoted to captain.
Imagine what the building of the Keystone Pipeline, building a new oil refinery planned in South Dakota and increased oil production in the US would do for the economy. Note all of these would be accomplished wholly with private funding. Better still consider what an across the board tax cut would do for the economy.
Congratulations to your promotion
We know the answer, don’t we?
If the reactor does work and generates electricity far safer than today's pressurized light-water uranium-fueled reactors, that would make it possible to generate electricity on a gigantic scale. And that would make electric cars, electrifying our long distance rail lines, large-scale seawater desalinization, etc. possible without spewing poisonous pollutants into the atmosphere. And because 1) we don't need that much thorium-232 per reactor to operate one and 2) thorium-232 is as common as lead (and there are plentiful supplies on the Moon and possibly even Mars), we could have a power source that could last tens of thousands of years at current electric generation capacity.
If things stay afloat long enough, around my parts things are going to explode economically in 18-24 months. As of current, there are three wellpads within 10 miles of my home, a fourth just started construction last week. I am in the Marcellus shale region.
These wellpads are going to be “spidiring” out 6000 feet below us and most in the area (myself included) will get 15-17% royalties a month on whatever they extract and sell.
The good news (for me) is that I live tucked away in between local farms. I was once worried about farmers selling their land to developers and this place becoming suburbia. Not any more, no one is selling now and those that are up for sale are at hefty prices because they are selling their leases “speculatively” in the price of the home.
There is NO downside to robust American Energy Production.
NONE
It is a Win no matter what. It helps the Economy by creating Jobs, By lowing the price of Energy, which lowers transportation costs which are passed on to the Consumer which leaves more money in the American Peoples hands for other endeavors.
Second, it will only help in our Nations Security, Russia can pull it's weight around using her Minerals? Well we can use ours to push back. It is the ONE thing that would at least have Putin looking at his Pocket Book and asking himself "Maybe I Don't have enough money for all this crap."
Captain Obvious reporting for duty!
Planned...Phooey.....
North Dakota tribal group plans $400M oil refinery - The ... www.bizjournals.com/...north_dakota/.../n... South Florida Business Journal
Oct 11, 2012 - An American Indian tribal group has received approval to take over a piece of land in oil-rich North Dakota and build a $400 million oil refinery.
May 10, 2013 - MAKOTI, N.D. — The Three Affiliated Tribes have broken ground for a $450 million oil refinery on the Fort Berthold Indian Reservation in northwestern North Dakota. The Thunder ... It will create as many as 100 full-time jobs
North Dakota tribes' oil output rivals U.S. states billingsgazette.com › ... › Montana News Billings Gazette
Apr 23, 2014 - NEW TOWN, N.D. — Oil production on the Fort Berthold Indian Reservation ..
. The tribes are also building a $450 million oil refinery that will be .
Consol Energy, headquartered here in Pittsburgh, is finally airing countering ads explaining just how much of the energy industry will be packing up and leaving if those taxes are imposed.
Unfortunately, you can't fix stupid notions of unicorns crapping out Skittles among the LIV set.
Absolutely in awe of this fine man. Worked there when he was County Chairman(that’s what Shell calls their President in the US).
I’m with Victor Davis Hansen on oil. America ceases to exist without cheap oil. We are a big country with big transportation needs, that also needs to ensure the free flow of goods and services world wide. Cheap oil is the only way to do this. Give Shell and others the latitude they need, but within sensible environmental protection regulation.
As for world unrest, I’m also with VDH. Secular dictators are the lesser of the evil. Give them parameters, human rights limitations, territory expansion limits etc., but let them obtain law and order. Yes, Saddam’s abuse of Iraq’s population pales in comparison with what they are about to suffer. The Arab spring in 2011 is a disaster for all. Anytime we intervene and obtain order, we have to leave a force behind, otherwise it is Saigon 1975 all over again.
We own mineral rights in West Virginia, I wish they discover oil there.
That’s assuming that the powers that be allow it to happen.
Many powerful people and wealthy would lose money if they were to be made to happen.
Anything that makes sense the government stops.
Those powers who have been bought off by the Saudis.
Bingo.
That’s actually the #1 action any politician could take to stimulate the economy: free up domestic energy production. (Again, note that the best thing the government can do to help matters economic is to STOP MESSING WITH THEM!)
Assuming we get a GOP President after the 2016 elections, the first order of business should be to clean house at the EPA and then work with Congress to open up drilling/fracking/natural gas deposits/nuclear plant construction/etc. All economies run on energy, and economies that produce energy run that much more efficiently.
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