Trump’s Energy Advisor Hamm: We Are So Much Stronger Than The Saudis

Oilprice.com ^ | 08-12-2016 | Hamm

[bananaman22]

U.S. crude oil production is not expected to rise much next year from the current levels of around 8.6 million bpd, energy mogul Harold Hamm said at the S&P Global Platts Global Energy Outlook Forum on Thursday.

If the United States were to go all out with oil production, it could probably double to 20 million barrels per day, according to Hamm, but that it would be “foolish for us to do that” precisely because it would create an oversupply.

Hamm called the OPEC deal that lifted prices wise on their part, but that OPEC’s previous attempt to out-stay and out-pump the U.S. may have been harder on the Saudi’s than it was on the U.S.

“They helped us,” Hamm said in reference to the Saudi’s attempt to drive the United States out of the oil business. Hamm’s company, Continental Resources, is able to produce double the amount of oil as it could two years ago, and at the same cost, according to Hamm.

[SolidWood]

... and we don”t need the Saudis for anything.
Flush the Dinosauds down the toilet of history.

They have caused enough evil and corruption in the world.

[KC_Lion]

Drill Baby Drill!

Sarah Palin was right (But then anyone with eyes could see American Energy is the key to our future)

[nathanbedford]

It should not normally be public policy of the United States to either encourage or discourage exploration and exploitation of petroleum in the homeland. All the federal lands should be immediately made available for exploration and exploitation as and when the market justifies these activities.

If anything, the bias should be toward more drilling, not less, in order to deprive Russia of a level of income needed to finance its adventurism, to provide alternative source of gas to Europe to render the EU less vulnerable to Russia, to generate more income for the government by way of taxes to reduce the debt and improve balance of payments, to afford the consumers at the gas pumps the equivalent of a massive tax cut, to afford manufacturers and other businesses the same, to starve the Saudis and others who use their oil profits to finance terrorism.

If there is ever a role for the government to monkey with the market and to play a mercantilist game, it is in oilpatch. Certainly, merely to undo the damage done by Barack Obama wood pile good upon good.

[flaglady47]

“If anything, the bias should be toward more drilling, not less, in order to deprive Russia of a level of income needed to finance its adventurism, to provide alternative source of gas to Europe to render the EU less vulnerable to Russia, to generate more income for the government by way of taxes to reduce the debt and improve balance of payments, to afford the consumers at the gas pumps the equivalent of a massive tax cut, to afford manufacturers and other businesses the same, to starve the Saudis and others who use their oil profits to finance terrorism.”

Good points all.

[luvie]

That is my mantra...being from oil country in Texas! I keep hoping to see Sarah’s name come up as a pick for a great position in this new administration! Don’t you?

[RayChuang88]

I think the USA has a LOT more crude oil and natural gas than people think.

Thanks to fracking and soon the use of microwaves to extract petroleum products, we now may have enough crude oil to rival what's coming out of the Middle East. And that could mean pretty soon there will be just about no crude oil being imported from the Middle East, and the USA could even start to export crude oil to eastern Asia and South America, too.

[Organic Panic]

I would LOVE to see the Saudi’s broke. What a cruel joke God played putting all that oil under their feet.

[dp0622]

Like 3000 murders in Manhattan?