Posted on 03/07/2018 5:44:48 PM PST by Hojczyk
The International Energy Agency (IEA) said in a new forecast this week that growth in U.S. oil production will cover 80% of new global demand for oil in the next three years. U.S. oil production is expected to increase nearly 30% to 17 million barrels a day by 2023 with much of that growth coming from oil produced through fracking in West Texas.
Republicans politicians and policymakers celebrated the news and sought to take credit for the development. Trump has sought to portray himself as a savior of the U.S. oil and gas industry, opening up federal lands to oil and gas development at a breakneck pace and undoing Obama-era climate regulations.
But analysts attributed the growth in U.S. production to market factors rather than Republican policy. In the report, the IEA forecast that higher oil prices and increased demand from China and India will trigger increased U.S. output to make up the gap. The IEA also predicts that demand for petrochemicals used in plastic will grow overall demand for oil.
Still, the White House sent out a press release highlighting the report on Monday. Republican Sen. Dan Sullivan of Alaska told reporters at CERAWeek that Republican dominated Washington has transformed the federal government from being basically hostile to oil and gas under President Obama to actively supporting the industrys growth. (In reality, Obama promoted natural gas as part of an all of the above energy strategy and his signature climate change regulation would have benefited the fossil fuel.)
Theres never been a more exciting time in the American energy sector, Sullivan told oil and gas industry insiders. The American energy renaissance that so many of you in this room are responsible for is now in full swing.
(Excerpt) Read more at time.com ...
Trump did nothing it was Obama.....Right
"...demand for petrochemicals used in plastic will grow overall demand for oil. "
I don't mean the grammar, I mean I don't understand the supply and demand of this.
0bozo tried everything he could to prevent our self reliance on energy. Now we’re going to be a major world supplier. MAGA.
I think it means gas is a feed stock for petrochemicals....thus you get oil sometimes when drilling for gas..thus more oil..
Lying TIME mag. churnalists try to spin everything for the Democraps. Unbelievable. Yeah, Obama & co. can take credit for NOTHING except harm to American interests.
MAGA!!!!
Still, the White House sent out a press release highlighting the report on Monday. Republican Sen. Dan Sullivan of Alaska told reporters at CERAWeek that Republican dominated Washington has transformed the federal government from being basically hostile to oil and gas under President Obama to actively supporting the industrys growth. (In reality, Obama promoted natural gas as part of an all of the above energy strategy and his signature climate change regulation would have benefited the fossil fuel.)
Republicans said the federal government was basically hostile to oil and gas under President Obama
Time does not refute that. They simply say Obama promoted natural gas as part of his regulatory strategy.
Apples and fruitcakes.
The Obama administration was clearly hostile to fossil fuels. Maybe not all of them, all of the time. But clearly hostile.
To claim they were not, because of a couple of limited exceptions is dishonest.
But it is Time, after all.
What really happened...
http://dailycaller.com/2017/12/28/trump-is-about-to-repeal-obama-era-fracking-regulations/
Obama essentially tried to make fracking illegal on Federal land.
Who am I?
- Back in 2006, he said expanded drilling in the Gulf of Mexico would only "lull the American people into thinking that we can drill our way out of our energy problems."
- In 2008, while gas prices spiked, he mocked John McCain's call for more drilling. "This is one emergency we can't drill our way out of," he said.
- After the BP oil spill in 2010, he explained that "the reason you never heard me say 'Drill, baby, drill' (is) because we can't drill our way out of the problem." He went on to claim that "easily accessible oil has already been sucked up out of the ground."
- In 2011, while pushing to end oil industry tax breaks, he claimed: "If we're serious about addressing our energy problems, we're going to have to do more than drill."
- In 2012, he declared: "Even if we drilled every square inch of this country right now, we're going to be relying on other countries for oil."
- And when he unveiled his "all of the above" energy strategy, he lectured the country about how "there's a problem with a strategy that only relies on drilling, and that is America uses more than 20% of the world's oil. If we drilled every square inch of this country ... we'd still have only 2% of the world's known oil reserves." He added: "We've got a math problem here."
Drill, baby, DRILL!
Ah!
Okay, yes, that makes it make perfect sense.
Thank you.
It means many billion dollar plastic feedstock plants. ...big growth in capital spending ...jobs and gdp growth.
Read it like this:
Growth in the demand for petrochemicals used in plastic will increase overall demand for oil.
It’s hip to use terms like “grow the economy” though its grammatically incorrect.
So much for the theory of “Peak Oil”.
Affordable energy for all Americans.
MAGA!
Where as Time & the entire global Left has sought to portray Obama as a savior. They even gave him the Nobel Peace prize a week or two into his presidency.
Hey, Time. FRACK YOU!
Just not in New York state, which has millions or billions of dollars worth of gas under it just waiting for us to go get it.
But little Andy Cuomo is smarter than the rest of the world and has made it illegal here.
So we continue to spiral down the crapper.
Meanwhile, just a couple of miles south, in Pennsylvania, they are reaping the harvest and the money and the economic benefits.
And we sit here raising property taxes on people who’s property is worth less every year, to make up for the lost revenue.
“Who am I?”
He WAS the problem.
I'm driving my car. I drive my car over 30,000 miles a year. That's why I get a new one every 4 years or so.
Not so much today because big snowstorm in CT. Trees and power lines down everywhere! But normally I drive every day.
Last month I drove to Florida and back. In between, I went to Key West, Miami Beach and Marcos Islands. Crossed the Everglades three times!
Driving is fun. Especially when the radio is on.
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