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Why This Oil Baron Thinks U.S. Oil Production Could Double By Adam Galas | More Articles August 17, 2014 | Comments (0) America's oil production is on a roll. After peaking in November of 1970 at 10 million barrels per day (bpd) and declining for nearly 40 years to a low of just 5 million bpd in 2008, today's oil production has soared 67%. The Energy Information Administration (EIA) is expecting another 13.6% increase by 2016 to 9.5 million bpd, before production tapers off in 2020. This miracle has been made possible by soaring shale oil production out of Texas...

What has suddenly become obvious is the extent to which President Obama’s imprudent policy-making decisions have compounded problems with unintended and unacceptable consequences.

The EU has unveiled plans to reduce its reliance on Russian gas, with increased imports from Norway and energy efficiency at the top of its wish list. […] Although EU countries import 88 percent of the oil that they use, as well as 42 percent of solid fuel, the main concern of the commission and governments is gas—66 percent of Europe’s gas is imported at a cost of more than €1 billion per day. Of the 400 billion cubic metres of gas consumed in the EU each year, around 40 percent comes from Russia’s state-owned Gazprom. The majority of this...

The Russian invasion of Ukraine in the Crimea has once again highlighted the vital power and significance of energy. You would think an assault upon a neighbor of the European Union, especially one that had been close to integrating more with the EU, would have Europe in an uproar. However, Europe is behaving like a timid kitten in the face of Putin's naked aggression. One of the key reasons is their need for energy. A great deal of Europe's gas passes through Ukraine from Russia. In the past, Putin has stopped the flow when in dispute with Europe with the...

At the last update, I think we were somewhere in “earlyish 2014″ territory (who can even keep up?) for the time frame in which the northern extension of the Keystone pipeline will be either approved or denied by President Obama, but by determinedly delaying on what should have/could have been a simple and bygone decision of his first term, the issue is now a ticking time bomb of highly publicized, faux-environmentalist outrageous outrage. I suppose that the dollars the president has been fundraising from well-monied, self-fancied “green” Democratic donors may have made the delay, delay, delay tactic worth it in...

October 17 was the fortieth anniversary of the oil embargo slapped on America by the Organization of Petroleum Exporting Countries (OPEC). That action changed the entire geopolitical map—taking the power from the United States and giving it to the Middle East. As a result of the embargo, the price of gasoline quadrupled, gas stations had multi-hour long lines, and the stock market plummeted—kicking off a serious recession. My entire driving life has been impacted by OPEC’s actions. On October 17, 1973, I was 15—days away from turning 16. I got my driver’s license on my sixteenth birthday. It was a...

Prince Alwaleed bin Talal said that fracking in the US has lessened demand for their oil, and that they need to begin to find other income sources. In a letter to oil minister, Ali al Naimi and other top government officials, Alwaleed said that fracking was responsible for the declining demand for oil from OPEC. Alwaleed recommends that the oil rich country, should diversify immediately before the impact gets to be out of hand. He says that the Saudi's dependence on oil income is, "a truth that has really become a source of worry for many".

Billionaire Saudi Prince Alwaleed bin Talal has warned shale oil and gas development poses a threat to the kingdom's economy, the Wall Street Journal's Summer Said reports. In an open letter to Saudi oil minister Ali al Naimi [in Arabic], Alwaleed also warns the kingdom must diversify its revenue streams in the face of flagging oil demand. A source translated the key portion of the note: With all due respect to your Highness’ viewpoint about shale gas and that it poses no danger on Saudi economy at ‘the present time’, I was hoping that your Highness would also shed light...

SB 320 - Florida Renewable Fuel Standard Act General Bill by Evers Florida Renewable Fuel Standard Act: Repealing the Florida Renewable Fuel Standard Act, to remove the requirement that all gasoline offered for sale in this state include a percentage of ethanol, subject to specified exemptions, waivers, suspensions, extensions, enforcement, and reporting, etc. Effective Date: 07/01/2013

<p>Energy companies are lining up for their shot to drill in the Dakotas and Montana after a new government report revealed that a massive geological formation stretching across the states contains twice the oil and three times the amount of natural gas than was originally believed.</p>

For all the Obama-era talk of decline, there is at least one reason why America probably won't, at least not quite yet. "Peak oil" and our "oil addiction" were supposed to have ensured that we ran out of either gas or the money to buy it. Now, suddenly, we have more gas and oil than ever before. But the key question is: Why do we? The oil and gas renaissance was brought on by horizontal drilling and fracking that opened up vast new reserves either previously unknown or considered unrecoverable. Both technological breakthroughs were American discoveries, largely brought on...

To create jobs, jump-start the U.S. economy and drive more money into the nation’s treasury, President Obama should forgo tax increases in his second term and instead embrace much more domestic energy production, an oil and gas industry leader said Tuesday. “Energy access, not taxes, is the key to unlocking new revenues for our government,” said Jack Gerard, president of the American Petroleum Institute, in his annual “State of American Energy” address. His speech focused heavily on recent projections that, with the right policies in place, the U.S. is poised to become the world’s leader in oil and natural gas...

The US government can create an appropriate level of energy independence by causing up to four million barrels per day of additional transportation and heating fuels to be produced from North American energy sources by auctioning long-term financial hedges (Contracts for Difference) to firms offering the best terms for building appropriate conversion facilities. An appropriate level of energy independence is one that a) greatly reduces volatility of worldwide oil markets, b) eliminates the perceived need for political and military intervention in the Middle East and other unstable regions, and c) allows sensible and transparent competition among alternate sources of basic...

As Canadian political and business leaders expressed optimism the proposed Keystone XL pipeline will win approval under a re-elected President Barack Obama, environmental opponents and the U.S. ambassador to Canada cautioned the energy megaproject isn’t a slam dunk. Obama’s Republican challenger, Mitt Romney, had vowed quick approval of the $7.6-billion pipeline if he had won Tuesday’s presidential election. But Obama, who earlier this year rejected TransCanada Corp.’s initial application because it needed more environmental review, has remained noncommital about the fate of the line, which would ship Alberta oilsands product to the U.S. Gulf Coast. In Ottawa, federal Natural Resources...

Key Findings Among the key findings in the IHS study: • Nearly $5.1 trillion in capital expenditures ($2.1 trillion in the oil sector, $3 trillion in the gas sector) will take place between 2012 and 2035 across the entire upstream unconventional oil and gas activity sectors. • Employment in the entire upstream unconventional oil and gas sector on a direct, indirect, and induced basis will support nearly 1.8 million jobs in 2012, 2.5 million jobs in 2015, 3 million jobs in 2020, and nearly 3.5 million jobs in 2035. • The jobs created tend to be high quality and high...

A new film starring Matt Damon presents American oil and natural gas producers as money-grubbing villains purportedly poisoning rural American towns. It is therefore of particular note that it is financed in part by the royal family of the oil-rich United Arab Emirates. The creators of Promised Land have gone to absurd lengths to vilify oil and gas companies, as Scribe’s Michael Sandoval noted Wednesday. Since recent events have demonstrated the relative environmental soundness of hydraulic fracturing – a technique for extracting oil and gas from shale formations – Promised Land’s script has been altered to make doom-saying environmentalists the...

Although the polls show the presidential campaigns neck and neck, the facts continue to look negative for Barack Obama. Two-thirds of the American people say they believe the United States is going in the wrong direction, and changing the occupant of the White House is the only way to reverse course. Unemployment remains the prime political issue, but the Democrats still allow a tsunami of legal and illegal immigrants to take jobs away from U.S. citizens. Obama's Jobs Czar, Jeffrey Immelt, is busy creating jobs in Communist China instead of the U.S.A. Obama's wild spending is putting an albatross around...

Mitt Romney traveled to Hobbs, New Mexico yesterday to push energy independence for North America in eight years. As president, Romney would embark on energy independence by first empowering the states. Reported Yahoo! News: In what his campaign is billing as a major policy speech, Mitt Romney will unveil an energy plan Thursday that would give states the power to determine whether drilling and mining should occur on federal lands within their borders as part of a larger effort to increase domestic oil, coal and natural gas production and achieve energy independence. The Obama administration has emphasized expensive, unreliable, and...

April 22, 2012 Environmentally Sound Energy Independence Sarah Palin On this holiest of days for EcoLiberals, how about if Americans celebrate Earth Day with responsible energy development that leads to greater independence and conservation? There’s no better way for President Obama and his administration to celebrate Earth Day than to embrace a real, environmentally sound commitment to energy independence instead of relying on foreign countries that lack environmental safeguards. One aspect of the “all-of-the-above” approach I have been discussing for years involves, of course, the necessity to “drill, baby, drill.” It’s no secret that throughout America, including the very wealthy...

WASHINGTON _ The Senate on Tuesday resoundingly rejected a sweeping measure to open the Arctic National Wildlife Refuge and other protected areas to oil drilling, as well as to approve construction of the Keystone pipeline project. Tuesday's vote was the first time in four years that the Senate has voted on a measure including ANWR drilling, and it failed miserably.