Shouldn't this bring prices down?
morekaos said:Oil World Turns Upside Down as U.S. Sells Oil in Middle East
The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn?t the most obvious customer for Texan oil.
Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.
U.S. could become world's biggest oil producer in 2018
The United States could soon be pumping more oil than any country on earth.
The International Energy Agency said Friday that "explosive" increases in U.S. oil output would push the country ahead of Saudi Arabia this year and put it in a position to challenge top producer Russia.
"This year promises to be a record-setting one for the U.S.," the IEA said. "Relentless growth should see the U.S. hit historic highs."
morekaos said:You really think he wanted to encourage energy production? Really?
The Keystone XL pipeline is dead. Here's why Obama rejected it.
Obama administration orders ND pipeline construction to stop
BY DEVIN HENRY - 09/09/16 03:52 PM EDT
The Obama administration said it would not authorize construction on a critical stretch of the Dakota Access pipeline, handing a significant victory to the Indian tribe fighting the project the same day the group lost a court battle.
The administration said construction would halt until it can do more environmental assessments.
Obama Fracking Rule Is Struck Down by
By CORAL DAVENPORT JUNE 22, 2016
WASHINGTON ? A federal judge on Tuesday night struck down an Obama
administration regulation on the use of hydraulic fracturing, or fracking, for oil and
gas on public lands, a blow to President Obama?s muscular stand on the extraction
morekaos said:The wonderful and profitable bi-product is massive amounts of natural gas production. In fact, the most productive fields on earth are right here in the good old US of A. Controlled by us and sold by us. That is a winning combination for our economy.
morekaos said:Laws banning export of petroleum were federal. Republicans struck down those laws in 2015 paving the way for the export boom we are now witnessing. Production without buyers is a bit pointless. Oil and gas has to get to those export points somehow...pipelines help a lot. Politically, philosophically and administratively Obama and the democrats discouraged dirty fossil fuel production. Whether you agree with them or not, they felt investment in more expensive "renewable " energy was "better". Economics win out on this one, it is all about the numbers.
morekaos said:Why do you think the price of "clean, renewable" energy is so high? Is it because its free? It is not. We sit on so much fossil fuel energy that it will still be powering our world in "20" years. Its not free but it is plentiful and cheap. You really think the Chinese believe in global warming? They control the means of production and that only produces when cheap plentiful energy is available. Sure they signed the Paris Climate agreement because it cost them nothing and hobbled their competition (US). They went right on buying "dirty" coal, natural gas and oil from anyone who can sell it to them. Clean energy is a nice story but it can't compete in a energy hungry world without subsidies. When it can compete, it will but for now we control the levers of energy. That has been politically driven, That's a good thing.