In this edition of The Heartland Daily Podcast, Rob Lindberg of the group Bakken Backers tells stories about his experience in the oil-producing regions of North Dakota and the opportunities and challenges it has presented to these communities and gives the listeners a glimpse of what this part of North Dakota looks like now that the go-go days of the boom are over.
In a free-market economy, people have healthy incentives to work and save, to form businesses and invest, to explore, innovate and invent, in these and other ways “to truck and barter.” The incessant desire of man to do better, whether through profit or achievement or goodness, when governed by the rule of law, leads to a progressive society.
The Environmental Protection Agency has a new target in it’s sights…strippers. Now that we have your attention, In this edition of The Heartland Daily Podcast, research fellows Bette Grande and Isaac Orr discuss how the EPA is targeting oil and gas wells that produce less than 15 barrels of oil equivalent per day. These wells, also known as stripper wells, are under attack from new EPA methane regulations that inappropriately apply rules for new wells on these typically older, lower volume wells.
The U.S. Environmental Protection Agency (EPA) issued its final methane rule on May 12. The 600-page rule is agenda-driven and backed by pseudoscience, emotions, and unicorn dust, and it’s important to note one specific change in the final rule amounts to a regulatory taking. The final rule imposes costly regulations on wells producing fewer than 15 barrels per day, effectively shutting down those businesses.
The Renewable Fuel Standard (RFS)—also known as the ethanol mandate—was passed by Congress in 2005 and expanded in 2007. Regardless of market conditions, it required ever-increasing quantities of biofuel be blended into the nation’s gasoline supply—though the Environmental Protection Agency (EPA) does have the flexibility to make some adjustments based on conditions, such as availability and infrastructure.
All of us loved paying less than $2 a gallon at the pump. AAA reports: “Americans paid cheapest quarterly gas prices in 12 years”—which resulted in savings of nearly $10 billion compared to the same period last year. However, oil (and, therefore gasoline) has been creeping upward since the February low—topping $45 a barrel, a high for the year. And that could be a good thing.
Why would a public research university boasting a top-100 geology program deliberately hide its work? Because, as lead researcher Amy Townsend-Small explained, “our funders, the groups that had given us funding in the past, were a little disappointed in our results. They feel that fracking is scary and so they were hoping our data could point to a reason to ban it.”
Does fracking cause housing prices to fall? The answer to that question is more difficult that it might seem. Many anti-fracking activists have claimed oil and natural gas development has led to substantial decreases in property values in areas where drilling occurs, but other places, such as North Dakota, saw property values skyrocket during the boom in oil production.
A new study published in Environment International indicates hydraulic fracturing, commonly called “fracking,” and the heavy truck traffic that is associated with it would have a negligible impact on air quality if fracking were to be used extensively in the United Kingdom. Interestingly, the authors of the study appear to be a little disappointed with their findings, which may be why they decided to emphasize maximum exposure in a shorter timeframe in their study, rather than exposures over more realistic scenarios.
Plummeting oil prices, which are largely the result of the U.S. hydraulic fracturing revolution that has nearly doubled oil production in the United States since 2008, have left many oil-exporting nations around the world reeling. The price drops have been particularly hard on nations in the Organization of Petroleum Exporting Countries (OPEC). Myriad OPEC governments are now stuck relying on dwindling oil revenues to fund large portions of their important social welfare programs, many of which are essential to maintaining national stability.
In today’s edition of The Heartland Daily Podcast, we listen in as H. Sterling Burnett, Managing Editor of Environment & Climate News joins the nationally syndicated radio show, An Economy of One, with Host Gary Rathbun. Burnett joins the show to talk about the environmental agenda of President Obama’s last year in office.
In today’s edition of the Heartland Daily Podcast, Heartland Science Director Jay Lehr joins host H. Sterling Burnett to talk about the abundant supply of oil and gas that exists due to fracking and in the future, Shale rock development and methane hydrates.
Separating reality from ideology and political agendas is difficult, but essential, if we are to revitalize our economy and help the world’s poorest families take their rightful places among Earth’s prosperous people. Energy reality is certainly in our favor. But ideological forces are powerful and persistent.
“We can’t just drill our way to lower gas prices,” President Obama told an audience four years ago at the University of Miami. Like this year, it was an election year and Obama was running for re-election. Later in his speech, he added: “anybody who tells you that we can drill our way out of this problem doesn’t know what they’re talking about, or just isn’t telling you the truth.”
Many energy-producing states are currently struggling in the wake of falling oil and natural gas prices. Thousands of people are losing their livelihoods in the energy sector, and lower severance tax payments are projected to produce numerous state budget shortfalls, which could end up reducing state spending on social programs.
If you want more of something, mandate it, subsidize it and exempt it from regulations. If you want less of something, punish it with taxes and regulations. Put more bluntly, the power to tax and regulate is the power to destroy. This is the First Rule of Government.
A recent USA Today/Rock the Vote survey of millennials shows 80 percent of millennials support transitioning to “mostly clean” or renewable energy by 2030. Although their hearts may be in the right place, few millennials appear to realize how much energy their lifestyle actually consumes, where this energy comes from, and how much it would cost to transition to a nation that’s powered predominantly by renewables by 2030.
The campaign is about all fossil fuels: oil, gas, and coal. Instead of an “all of the above” energy policy, when it comes to fossil fuels, they want “none of the above.” A big part of the effort is focused on preventing the extraction of fossil fuels on public lands—which is supported by presidential candidates Senator Bernie Sanders and Secretary Hillary Clinton. The recent moratorium of leasing federal lands for coal mining, announced by Secretary of Interior Sally Jewell, is considered a great victory for “keep it in the ground.”
Democratic presidential candidate Bernie Sanders has often talked about his desire for the United States to emulate the socialist welfare states of Denmark, Norway, and Sweden by providing free college and health care and expanding Social Security. Sanders also wants to ban oil, natural gas, and coal production on lands owned by the federal government, and he has called for a ban on hydraulic fracturing, which has dramatically increased production of oil and natural gas in the United States.