patrick.net

marcus says

I credit Obama.

One of his many huge successes !!

As in "he was unable to fuck it up"? Agreed.

marcus says

I credit Obama.

One of his many huge successes !!

Obama opposed fracking. The credit goes to technology, and good old American Entrepreneurship.

So fracking makes the world more free. Got it.
Also why do we need global treaties for CO2 emissions if the worst polluters (China, India) aren't going to do much about it? Also the US is already far and away the best at dropping emissions. Electric cars and more fuel efficient cars are to blame as well as a great push to modernize homes and reduce electricity needs with LED lights, better insulated windows, and solar cells on the roofs! Also the renewable energy industry is doing well, setting up tens of thousands of windmills and many solar farms.
It's all meaning that we should be far more concerned with the pollution abroad than our own declining numbers.

marcus says

I credit Obama.

One of his many huge successes !!

This guy? The guy who said "We can't drill our way to lower oil prices".

Just another example of Liberals refusing to accept science.

www.youtube.com/embed/Z96ZiaQbwqw

Quigley says

It's all meaning that we should be far more concerned with the pollution abroad than our own declining numbers.

America is going to be boosting our natural gas exports to China which will help reduce China's emissions since they mostly use dirty coal for electricity.

Russians, Democrats, Hollywood and Jihadis have done their very best to stop this progress. It is almost as if Democrats and Hollywood are in collusion with America's (and the environment's) enemies.

Trump's China Deal Boosts U.S. LNG Without Rule Change
https://www.bloomberg.com/politics/articles/2017-05-12/trump-s-china-deal-gives-u-s-lng-a-boost-without-changing-rules

It would be the peak of irony if Trump were to be our POTUS with the best effect on the environment.

Strategist says

Saudi Arabia is desperately trying to diversify their economy,

It's their oil, but it was American geologists and petroleum engineers who discovered and brought the oil on line in the late 1930's as Saudia Arabia was in need of revenue as World War II loomed.

"SOCAL set up a subsidiary company, the California Arabian Standard Oil Company (CASOC) to develop the oil concession. SOCAL also joined forces with the Texas Oil Company when together they formed CALTEX in 1936 to take advantage of the latter’s formidable marketing network in Africa and Asia.
When CASOC geologists surveyed the concession area, they identified a promising site and named it Dammam No. 7, after a nearby village. Over the next three years, the drillers were unsuccessful in making a commercial strike, but chief geologist Max Steineke persevered. He urged the team to drill deeper, even when Dammam No. 7 was plagued by cave-ins, stuck drill bits and other problems, before the drillers finally struck oil on 3 March 1938. This discovery would turn out to be first of many, eventually revealing the largest source of crude oil in the world. For the king, oil revenues became a crucial source of wealth since he no longer had to rely on receipts from pilgrimages to Mecca. This discovery would alter Middle Eastern political relations forever."

Legend has it that the geologists were tipped off to the possibility of large volumes of petroleum by the Biblical story of Moses in the bullrushes where pitch (tar) was used to caulk his basket so it would float.

P N Dr Lo R says

For the king, oil revenues became a crucial source of wealth since he no longer had to rely on receipts from pilgrimages to Mecca. This discovery would alter Middle Eastern political relations forever."

And all the oil belongs to the Royal family. Nothing belongs to the commoner.
The way the Royals splurge the oil wealth is shockingly disgraceful.

Strategist says

The way the Royals splurge the oil wealth is shockingly disgraceful.

You try spending trillions. It ain't easy!

rando says

Strategist says

The way the Royals splurge the oil wealth is shockingly disgraceful.

You try spending trillions. It ain't easy!

My wife could.

anonymous says

Don't plan the wake just yet for OPEC...

Only if Democrats get back into power and collude with OPEC and Russia to reduce America's energy production.

anonymous says

Then again should the price per bbl of oil get too low with the increased fracking, the break even point for profit could result in a quick reversal of activity in this country.

It has already happened. And then it recovered nicely. The attempt to break fracking has been unsuccessful and harmed OPEC/Russia more than it harmed US.

anonymous says

Only if Trump is in power and colludes with Saudi Arabia, OPEC and Russia to reduce America's energy production.

What is the mechanism for doing that? EPA?

OPEC’s Coffers Are Drying Up
"OPEC’s members brought in less cash from selling oil in 2016 than in any of the past dozen years. That grim reality comes to us courtesy of the U.S. Energy Information Administration (EIA): Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 billion earned in 2015, mainly because of the fall in average annual crude oil prices and, to a lesser extent, because of decreases in OPEC net oil exports."
https://www.the-american-interest.com/2017/05/21/opecs-coffers-are-drying-up/

Less money to spread mischief around the globe.

Worst OPEC Cheater Will Get Harder to Ignore as Curbs Falter
"OPEC’s second-biggest producer is also its biggest cheater.

And if past is prologue, that lengthens the odds the group will be able to squeeze too many more price gains out of its output cuts.

Iraq pumped about 80,000 more barrels of oil a day than permitted by Organization of Petroleum Exporting Countries curbs during the first quarter. If that deal gets extended to 2018, the nation will have even less incentive to comply because capacity at key southern fields is expanding and three years of fighting Islamic State has left it drowning in debt."
https://www.bloomberg.com/news/articles/2017-05-22/opec-s-worst-cheater-will-get-harder-to-ignore-as-curbs-falter

U.S. Shale is a game changer. This is perhaps the biggest story and geopolitical realignment since the implosion of Communism at the end of the Cold War.

Energy needs are increasingly supplied by alternative sources. And as mentioned oil production has gone way up domestically. Add to this the rise of electric vehicles, push for efficiency in electric use, and you have a recipe for a Saudi slide to irrelevancy.
It really couldn't happen to a nicer bunch of total assholes.

Sorry about the blurry image.
Looks like solar is going to be cheaper than anything else soon.

So beautiful folks, so beautiful. We have the best fracking.

rando says

Looks like solar is going to be cheaper than anything else soon.

That's good news too. Solar potential can only go up as it represents only about 0.9% of our total electricity production.
https://www.eia.gov/energyexplained/?page=us_energy_home

Solar will still be limited to sunshine states, but better and cheaper battery technology will help that along too.

There is no one silver bullet technology that will be able to get us off carbon based energy as fast as the Global Warming doom-mongers are demanding. There is simply too much oil and gas available here at home.

OPEC’s Coffers Are Drying Up
"OPEC’s members brought in less cash from selling oil in 2016 than in any of the past dozen years.

Thanks a lot, Obama!!

TwoScoopsMcGee says

So beautiful folks, so beautiful. We have the best fracking.

You should come up to central Pennsylvania and see all the destruction it's causing

jazz music says

Texas jury awards $3M to family for illnesses related to fracking

http://america.aljazeera.com/articles/2014/4/23/texas-fracking-lawsuit.html

Probably should check your sources Pink Panther, esp when it's Al Jizz...

https://www.law360.com/articles/545633/fracking-case-that-wasn-t-parr-v-aruba-petroleum-inc

Oh, and even if it was relevant, case was overturned a few months ago:

http://www.prnewswire.com/news-releases/aruba-petroleum-wins-appellate-ruling-in-closely-watched-nuisance-case-300402015.html