Thanks mainly to the shale revolution, oil production in the U.S. hit a 28-year high last month while imports were at their lowest levels since 1995. Consequently, prices have fallen 15% since June, and Saudi Arabia has cut production by 400,000 barrels a day — providing further evidence that OPEC no longer has the power to set prices.
Tagged: natural gas
When I was in elementary school, my teacher taught our class about the food pyramid and the importance of a balanced, healthy diet. If we were going to grow up to be big and strong, we needed to eat the right amount of food from each of the basic food groups: grains at the base of the pyramid, fruits and vegetables on the second tier, meats and dairy diary products third, and fats, oils, and sweets, the smallest portion, at the top.
On June 2nd of this year the Obama administration announced new regulations from the Environmental Protection Agency (EPA) with a goal of reducing carbon emissions over the next 15 years. These goals as outlined by the EPA in the Clean Power Plan impose significant restrictions on power plants already in existence, even natural gas plants. Power plants are cited by the EPA as the largest source of carbon pollution in the U.S., accounting for roughly on-third of all domestic greenhouse gas emissions.
Here in America and elsewhere around the world, Greens continue to war against any energy other than the “renewable” kind, wind and solar, that is more costly and next to useless. Only coal, oil, natural gas, and nuclear keeps the modern and developing world functioning and growing.
The 2014 US-Africa Leaders Summit hosted by President Obama this past week brought together the largest-ever gathering of African government officials in Washington, DC. They discussed ways to bolster trade and investment by American companies on a continent where a billion people – including 200 million aged 15 to 24 – are becoming wealthier and better educated.
Hydraulic fracturing, also known as “fracking,” is a technique for recovering oil and natural gas from shale rock formations once too costly to develop. The use of fracking is sweeping the nation, resulting in a surge in production that has made the U.S. the single-largest producer of both oil and natural gas in the world, a feat that was unthinkable just a decade ago.
President Obama, and his administration, has enacted so many foolish and cost-increasing energy policies, it is easy to think that they are his purview alone. But in 2007, Republicans were just as guilty. Seeds were planted and a garden of bad legislation took root in a totally different energy environment. At the time, the growth seemed like something worthy of cultivation. However, what sprouted up more closely resembles a weed that needs to be yanked out.
Ohio sits above the Utica and Marcellus shales, two geologic formations that have rich energy potential waiting to be unlocked by the process of hydraulic fracturing, commonly referred to as “fracking.” Increased energy production has the potential to be a powerful economic engine for unemployed Ohioans, but the debate over hydraulic fracturing has served to highlight the natural and political fault lines running through the state.
Panel 8 of the 9th International Conference on Climate Change was on the subject of “Costs and Benefits of Renewable Energy.” The panel was focused on the subject of renewable energy, specifically the high cost and potentially devastating economic consequences produced by the federal government’s efforts to replace the current energy sources with renewables.
America is poised to become the “no pee” section of the global swimming pool and the useless actions will cost us a bundle—raising energy costs, adding new taxes, and crippling the economy. Even some environmentalists agree. Yet, for President Obama, it’s all about legacy.
Before President Obama took office in 2009, the amount of electricity being produced by coal-fired utilities was approximately fifty percent of the total. Today it is approximately forty percent and, when the Environmental Protection Agency regulations take effect as of June 2, more such utilities are likely to close their doors. The basis for the regulations is utterly devoid of any scientific facts.
U.S. oil and natural gas production has skyrocketed in recent years thanks to hydraulic fracturing, a technology that allows engineers to access deep-underground resources from rock formations once too expensive to develop. This technology has made the United States the largest producer of natural gas in the world and on track to surpass Saudi Arabia as the leading producer of oil by 2015. The entire U.S. public benefits from this inexpensive domestic source of fuel.
Now that 8 million or more have signed up on health insurance exchanges under the Affordable Care Act (ACA), the President is deploying his phone and his pen to solve another urgent problem: climate change. This will require another transformational change that no previous President has been able to bring about, as they were unable to get around a recalcitrant Congress.
Rewards of tax dollars for the renewable energy industry are so great it takes tax experts days of explanations to locate all possibilities. Additional subsidies are available from the federal government in forms of tax credits, loan guarantees, grants, and possible mandates for energy source use.
Despite the war-like hostility of the Obama administration to the traditional carbon based energy that fueled the industrial revolution, the entrepreneurship and modern technology of America’s private economy is producing a boom in oil and gas production that is overwhelming President Obama.
Those of us who have chronicled the global warming hoax, now called “climate change”, know that it is based on decades of lies about carbon dioxide and other “greenhouse gas” with predictions that the Earth will heat up and cause massive problems unless those emissions are drastically reduced by not using coal, oil and natural gas.
Relationships fascinate us. Americans are always picking up the latest issue of their favorite magazine or clicking on that random pop-up website that promises five easy secrets to a satisfying[…]