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 ...
Decreased regulation. New infrastructure. Increased demand in the 3rd world. Russia stagnating again. Gas prices holding firm. It seems all the ingredients for another US oil boom are here.
LOl....see #13.
Miss that crotchety old oiler at times.
My home area has had three booms in 60 years.
Just one more and we PROMISE we won’t screw it up again!!
Pooty-Poot and the CPUSA?
It is pretty obvious that Odunghole wanted us, and the rest of the world, to be dependent on the Arab muslim oil supply.
And, if Felonia von Pantsuit had been elected we would have been in thrall to the muslims for eternity.
“But analysts attributed the growth in U.S. production to market factors rather than Republican policy”
That is soooo weak.
Here in MA, instead of building a short pipeline to the endless natural gas in PA, we import Yemen gas shipped here on French ships.
Stupid and expensive.
Does anyone buy into the theory of abiotic oil?
Oh yes, Obama supported the gas industry, that is why the swamp creatures at the EPA came up with all those new regulations that would help.
The only thing of note he did to help was allow exports.
https://www.nasa.gov/mission_pages/cassini/media/cassini-20080213.html
Hydrocarbons are found on Titan. I don’t think oil comes from dinosaurs or plant life.
Come on into LaVaca County TX we are ready
I see trade leverage right there.
You are all very welcome.
Good!
Not sure about oil—perhaps gas is legit.
Subduction of tectonic plate edge carries a lot of carbon bearing rock and water deep into the Earth’s mantle. Hydrogen from water, carbon from limestone, and ample heat energy might cook up some natural gas. Whether that leads to heavy hydrocarbons awaits more evidence.
A company claims a solvent process is viable to extract oil from tar-sands at $22 bbl. The sand is cleaned and possibly available as frack sand grade, little to no water is involved with the process, and the first commercial project is poised to commence in Utah. Will see.
“(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.)”
This is a POLITICAL STATEMENT, not journalism.
This CONVINCES me that the article was proof-read and marked up by someone from the Obama Administration (or DNC), which is a HUGE VIOLATION of journalistic ethics.
Don’t get me wrong, there’s nothing unethical about getting opposing opinions, but when they’re presented as FACT, with the words “In reality”, that is unethical. The PROPER way to note this opposing opinion would be something like “A former Obama Administration official noted that development of natural gas was a key part of President Obama’s effort to fight climate change.” - Much, much, different.
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