Archive for the ‘Oil’ Category

Good. It’s way past time…

Hunt for oil and gas to begin off East Coast

The Obama administration opened up the Atlantic to oil and gas exploration for the first time in nearly four decades on Friday.

The announcement from Interior’s Bureau of Ocean Energy Management (BOEM) allows the use of air guns and sonic sensors to search off of the East Coast.

It is a major step toward allowing future drilling in the Atlantic, which has remained off-limits for over 30 years.

While the decision doesn’t guarantee that lease sales for drilling in Atlantic waters will be included in the Interior Department’s five-year plan for 2017-2022, it is a step in that direction.

Slip slidin’ away…

2014: Obama’s America – where scandals now come so fast that each new mess makes us forget the previous one.

What keeps the country afloat this terrible summer?

Some American companies produce more gas and oil than ever despite, not because of, the Obama administration. Most Americans still get up every day, work hard, and pay more taxes than they receive in subsidies. American soldiers remain the most formidable in the world despite the confusion of their superiors. The law, regardless of the administration, is still followed by most. And most do not duck out on their daily responsibilities to golf, play pool, or go on junkets.

It is still a hard thing to derail America in a summer — but then again, we have a long way to go until fall.

North Dakotan Shale Boom to “Surge” This Summer

AmericanInterest

You just can’t keep a good boom down. Oil production from North Dakota’s Bakken formation has quintupled over the past five years as drillers employ the dual technologies of hydraulic fracturing and horizontal well drilling to tap previously inaccessible hydrocarbons trapped in shale. This summer, it looks as if Gaia will cooperate, offering mild weather to spur what one official is predicting will be a “big surge” in output. Bloomberg reports:

Better summer weather will lead to production growth in the region of 5 to 6 percent a month in June, July and August, said Lynn Helms, director of the state’s Department of Mineral Resources.

“We still expect the big surge to come in June, July and August in terms of completions and some really rapid production increases,” Helms said on a conference call with reporters yesterday.

The shale boom has been so sudden, and so unexpected, that we still lack the transportation infrastructure to deliver shale-sourced crude to refineries. Without pipelines to link North Dakota’s Bakken formation to Gulf Coast refineries, that crude is riding our nation’s rails and being transported by truck—more expensive and more dangerous options. Building new pipelines will cut down on bottlenecks, save money, and potentially save lives. This is a challenge, but it’s the kind we’d like to see more of: one of abundance, not scarcity.

Fracking Has ‘Cut Carbon Emissions More than All the World’s Wind and Solar Energy’

Breitbart

“Fracking has succeeded where Kyoto and carbon taxes have failed. Due to the shale boom in the US, the use of clean burning natural gas has replaced much more polluting coal by ten per cent. In 2012, the shift to gas has managed to reduce CO₂ emissions by about 300 megatonnes (Mt).

“Compare this to the fact that all the wind turbines and solar panels in the world reduce CO₂ emissions, at a maximum, by 275 Mt. In other words, the US shale gas revolution has by itself reduced global emissions more than all the well-intentioned solar and wind in the world.”

Oil and Gas Online reports that Faulker also called on Europe to follow America’s lead, saying that if other nations are serious about reducing carbon emissions, they should look beyond renewable energy:

“Many countries in Europe, and across the world, have similar opportunities to reduce their carbon footprint, and to experience the same economic benefits.”

“These are not opportunities governments should overlook, or discount, as carbon reduction targets will not be achieved through renewables or any other current energy generation technology.

Gas Prices Wallop Wallets

Thanks again, Barry…

A gallon of unleaded gasoline cost an average of $3.67 Wednesday, almost 20 cents above last year’s price, according to automobile club AAA. In California, drivers have been paying well over $4 a gallon for weeks.

Prices at the pump are tracking a sharp rise in oil prices over the past month, after Islamist militants took control of several cities in Iraq. Investors and traders have worried that the spreading insurgency poses a threat to the country’s oil production. Oil prices have given up some of their gains in recent days, but it will take some time for those declines to be reflected in the cost of gasoline.

“We could have another 30-cents-a-gallon increase nationally and I really don’t think it would have significant effects on consumer sentiment or major spending,” said James Hamilton, professor of economics at the University of California, San Diego.

But any escalation of violence in the Middle East or an actual disruption to Iraqi supplies could send oil prices, and subsequently gas prices, shooting higher, analysts said.

That would be unwelcome news for drivers like Tai Gabriel, a fitness trainer in Los Angeles, who said he noticed last month that he had spent an unusually high amount on fuel.

“Gas didn’t used to be this important. You didn’t think that about gas, and now it’s as high a priority as food. It eats away at your lifestyle,” Mr. Gabriel, 41, said as he filled his white Jeep.

Remember?

Texas Creeping up on Iraq’s Crude Oil Production

Breitbart

3 million barrels of crude oil are now being produced in Texas each day, according to new federal data from the U.S. Energy Information Administration (EIA). This means that the state has almost reached the production level of Iraq, the second-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC).

Texas’ oil production has been increasing rapidly in recent years: in 2009, the state only produced about 1.1 million barrels of oil. The gas and oil industry continues to explode in the Lone Star State, thanks in part to the Eagle Ford Shale and Permian Basin.

The EIA reported, “Gains in Texas crude oil production come primarily from counties that contain unconventional tight oil and shale reservoirs in the Eagle Ford Shale in the Western Gulf Basin, where drilling has increasingly targeted oil-rich areas, and multiple reservoirs within the Permian Basin in West Texas that have seen a significant increase in horizontal, oil-directed drilling.”

North Dakota’s oil production also saw an increase; the state produces about 1 million barrels per day.

Together, Texas and North Dakota currently produce about half of the nation’s total crude oil.

Canada Pulls Plug on Keystone Pipeline – Will Send Oil to Asia

GatewoodPundit

Canada pulled the plug on Keystone and will send the oil to Asia.
Watts Up With That reported:

Obama’s inability to make a decision on Keystone has finally yielded a result – Canada has made the decision for him.

Breitbart reports Canada has just approved the Enbridge Northern Gateway Project – a major pipeline to ship Canadian oil to Asia.

The Canadian oil will still be burnt – in Asia, instead of America.

All the jobs and energy security which Canadian oil could have delivered to America, will instead be delivered to Asia.

Rather than purchasing crude from a friendly and allied neighbor, the United States will most likely need to continue its reliance upon hostile sources like Venezuela.

Only a Democrat could make such a dangerous and irresponsible decision for the country.

It would help if it connected to the north…

Texas-Oklahoma segment of Keystone spouts big dividends

A new study claims that a just-built 485-mile stretch of the Keystone XL pipeline has been a huge economic boon for two dozen rural and poor Oklahoma and Texas counties—and will create the same significant impact in five other states if the project’s long stalled northern segment ever wins White House approval.

As the debate rages over the future of the $5 billion mega-project, a team of university researchers has released a report showing the economic benefits of Keystone’s Gulf Coast Pipeline, which just opened in January after 17 months of construction, linking Cushing, Okla., and Nederland, Tex. The study by the Maguire Energy Institute at Southern Methodist University says the pipeline has pumped $3.6 billion into the Texas economy and $2.1 billion into the Oklahoma economy, while creating thousands of jobs directly and indirectly. It has also boosted tax revenues by millions of dollars, according to the study.

“Similar state and local economic benefits can be anticipated should the United States give the go-ahead for construction of the Keystone XL pipeline from Hardisty, Albert, to Steele City, Neb.,” the report concluded.

John Kerry ignored by everyone as Iraq dissolves

RedState

Three things have happened in the past weeks that are making it obvious that the nation that has been Iraq since 1919 will soon cease to exist. First, the Turks have spoken in an approving way of the idea of an independent Kurdistan inside of what is now Iraq and has moved to address the issues that have fueled a long running Kurdish insurgency in Turkey. Second, Iraqi Prime Minister Nour al-Maliki has cast his lot firmly and unambiguously with Iran.

In his weekly televised address, Mr Maliki called on “all political forces to reconcile” in the face of a “fierce terrorist onslaught”.

But the Shia prime minister gave no promise of greater representation in government for the minority Sunni Arab community, whose anger at what they say are his sectarian and authoritarian policies has been exploited by jihadist militants from the Islamic State in Iraq and the Levant (Isis).

Mr Maliki said forming an emergency administration that included all religious and ethnic groups would go against the results of April’s parliamentary elections, which were won by his State of Law alliance.

“The dangerous goals of forming a national salvation government are not hidden,” he said. “It is an attempt by those who are against the constitution to eliminate the young democratic process and steal the votes of the voters.”

What makes Maliki’s statement important is that it was made in direct response to entreaties made by our own Forrest Gump of diplomacy, Secretary of State John Kerry, on a visit to Iraq.

Now that two-thirds of Iraq seem poised to go their own way, the only question left is how Obama will deal with an al Qaeda state located on top of Iraqi oil fields.

Coming out of the closet…

Legendary Actor Slams PC Culture, Praises Krauthammer

“Planet of the Apes” star and self-identified libertarian Gary Oldman went on a tirade about the “hypocrisy” of an increasingly politically correct culture in an interview with “Playboy” for the upcoming July/August issue.

“I just think political correctness is crap,” he said. “That’s what I think about it. I think it’s like, take a joke. Get over it.”

Asked who is honest in this culture, Oldman gave Charles Krauthammer a shoutout. “A voice I particularly like is Charles Krauthammer,” he said. “I think he’s incredibly smart. I think he’s fair, very savvy and politically insightful, so I enjoy watching him.”

He also pointed out people can “hide behind comedy and satire” in order to say politically incorrect things. “Well, if I called Nancy Pelosi a **** — I can’t really say that,” Oldman explained. “But Bill Maher and Jon Stewart can, and nobody’s going to stop them from working because of it.”

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