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Trump’s Energy Advisor Hamm: We Are So Much Stronger Than The Saudis
Oilprice.com ^ | 08-12-2016 | Hamm

Posted on 12/08/2016 10:36:44 AM PST by 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.

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy; Politics
KEYWORDS: drillbabydrill; hamm; oil; palinwasright; saudiarabia; trump

1 posted on 12/08/2016 10:36:44 AM PST by bananaman22
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To: bananaman22

... 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.


2 posted on 12/08/2016 10:40:17 AM PST by SolidWood
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To: bananaman22; MeganC; GraceG; GOPsterinMA; onyx; LUV W
Drill Baby Drill!

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

3 posted on 12/08/2016 10:52:23 AM PST by KC_Lion ("I'm a believer that you don't need a title, and you don't need an office to make a difference"~S.P.)
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To: bananaman22
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.


4 posted on 12/08/2016 10:53:50 AM PST by nathanbedford (attack, repeat, attack! Bull Halsey)
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To: nathanbedford

“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.


5 posted on 12/08/2016 11:12:53 AM PST by flaglady47 (TRUMP Rocked and' WON!!!! )
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To: KC_Lion

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?


6 posted on 12/08/2016 11:30:40 AM PST by luvie (There is no global anthem, no global citizenship. We pledge allegiance to one country, America.)
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To: bananaman22
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.

7 posted on 12/08/2016 11:48:15 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: bananaman22

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


8 posted on 12/08/2016 12:18:00 PM PST by Organic Panic (Gentrification in America. Rich White Man Evicts Poor Black Family - MSNBCPBSCNNNYTABC)
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To: SolidWood

Like 3000 murders in Manhattan?


9 posted on 12/08/2016 12:27:14 PM PST by dp0622 (IThe only thing an upper crust conservative hates more than a liberal is a middle class conservative)
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