Drill Baby Drill

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Drill Baby Drill
Posted by SMAZ on Fri Jul 22 10:50:40 2016 fiogf49gjkf0d God Bless Barack Obama America's biggest oil boom came under Obama by Matt Egan - CNN Money Donald Trump's potential energy secretary took President Obama to task for trying to "destroy" the U.S. oil boom. Harold Hamm, a shale oil billionaire, gave a speech on Wednesday night at the GOP Convention arguing that Trump will become the first president to achieve American energy independence. "President Obama chose not to get it, and he has tried to destroy this renaissance and all of its benefits," Hamm said in Cleveland. But the numbers tell a different story. Believe it or not, Obama has presided over the biggest increase in oil production in American history, even if he can't take direct credit for it all. Hamm is the leading contender to be Trump's energy secretary, GOP fundraiser and oil exec Dan Eberhart told CNNMoney. Neither the Trump campaign nor Hamm's Continental Resources (CLR) responded to requests for comment. Hamm's possible role was also reported by Reuters. Related: Does Donald Trump's plan to drill more oil make sense? The U.S. was pumping just 5.1 million barrels per day when Obama took office in January 2009, according to the U.S. Energy Information Administration. Fast forward to April and the U.S. produced 8.9 million barrels per day. That's an incredible 74% increase. In fact, in 2015, the U.S. pumped the most oil in 43 years. The U.S. is now the world's No. 1 petroleum producer when you count not just crude but also liquified natural gas. If you limit the ranking to just crude oil, the U.S. still comes in No. 3, just narrowly behind Russia and Saudi Arabia. Prices have recently collapsed by more than half since 2014. It's forced U.S. oil producers to pump less, because it's less profitable. Daily U.S. oil production has decline modestly from the peak and more slowing is likely. But the oil bust wasn't fueled by the White House. It was actually caused by an epic supply glut that formed in part due to American shale oil. "Oil prices have been depressed, but that's not a function of policy. It's a function of global dynamics: we produced a lot -- and there wasn't a lot of demand for it," said Vincent Piazza, senior oil and gas analyst at Bloomberg Intelligence. Related: U.S. oil boom not dead. It's plotting a 2017 comeback Obama: Friend or foe of oil? Energy experts argue Obama's policies overall have neither been a positive nor a negative for oil production. Obama did place some restrictions on fracking, though he hasn't moved to ban the controversial tactic as Bernie Sanders and other environmentalists want. In fact, fracking now accounts for half of all U.S. oil output. The White House did place a temporary moratorium on Gulf of Mexico drilling after the Deepwater Horizon disaster. However, drilling in the Gulf of Mexico has rebounded and is on track to break a record next year. On the other hand, under Obama and the GOP-led Congress, the U.S. also removed the 40-year ban on crude oil exports, potentially allowing production to increase once prices rise. "I can't say what the administration has done has been a negative for the industry overall," said Piazza. Eberhart, the GOP fundraiser, disagrees, saying the White House has displayed "hostility" towards the energy industry and made it harder to drill by adding regulations "at an alarming rate." "The increased production is despite President Obama, not due to President Obama," Eberhart told CNNMoney. Trump faces a tall order in trying to make the U.S. energy independent. Last year, the EIA predicted the U.S. would achieve energy independence in 2028 if oil prices continue a modest and slow rise. The industry has made huge strides under Obama. The U.S. today has become more self reliant, importing about 10 million barrels per day, down from 14.5 million in 2006. But current imports still mean America relies on foreign oil for over half of its daily consumption. Hamm raised eyebrows by making a bold promise: U.S. oil production could double under Trump. But that would equate to 17 million barrels a day, a huge amount in today's world of excess supplies. It would be hard to convince oil companies to drill at that pace unless it becomes a lot more profitable. For that to happen, prices will have to rise dramatically. But again, if the U.S. ramps up production by that much, oil experts warn that prices will drop. "Unless you had a sustainable rise in demand and reductions from other countries, doubling production would just add to that oversupply," said Piazza.
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 11:12:10 2016, in response to Drill Baby Drill, posted by SMAZ on Fri Jul 22 10:50:40 2016.* fiogf49gjkf0d Lulz. Obama's policies enabled the oil boom. The republicans want to dismatle it because there's liess profit in it anymore. Coal is dying off not because of a lack of supply, but the demand isn't there. Which is why I laugh at trumps lies to coal miners that he's gonna get them their jobs back.
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Re: Drill Baby Drill
Posted by Easy* on Fri Jul 22 11:35:41 2016, in response to Drill Baby Drill, posted by SMAZ on Fri Jul 22 10:50:40 2016.* fiogf49gjkf0d Fracking right! Thanks Obama.
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Re: Drill Baby Drill
Posted by Easy* on Fri Jul 22 11:36:44 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 11:12:10 2016.* fiogf49gjkf0d You do realize that nothing you posted is anywhere close to reality?
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 11:47:48 2016, in response to Re: Drill Baby Drill, posted by Easy on Fri Jul 22 11:36:44 2016.* fiogf49gjkf0d Like what? Obama's policies opened up extraction expansion domestically. demand for coal is at an all time low, what with China able to supply their domestic demand singlehandedly. Europe's been on Russian gas for years now, and is migrating to renewables. Yes, there's a myriad of reasons for the "oil glut", which is actually a range of petrol products including fracked gas. Obama's energy policies are just a part of it.
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Re: Drill Baby Drill
Posted by Charles G* on Fri Jul 22 11:49:36 2016, in response to Drill Baby Drill, posted by SMAZ on Fri Jul 22 10:50:40 2016.* fiogf49gjkf0d Are you (and/or the author of the piece) confusing correlation with causation?
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Re: Drill Baby Drill
Posted by Dave* on Fri Jul 22 11:52:50 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 11:47:48 2016.* fiogf49gjkf0d And why do you think demand for coal is low?
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Re: Drill Baby Drill
Posted by Easy* on Fri Jul 22 12:07:42 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 11:47:48 2016.* fiogf49gjkf0d It was improved technology and fracking that allowed shale deposits to be accessed. Not government policy. All that stopped (i.e. nothing new being added) when the price of oil dropped. But it is government regulation that makes coal less attractive.
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Re: Drill Baby Drill
Posted by Olog-hai* on Fri Jul 22 12:11:42 2016, in response to Drill Baby Drill, posted by SMAZ on Fri Jul 22 10:50:40 2016.* fiogf49gjkf0d God Bless Barack Obama So you are an antisemite.
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Re: Drill Baby Drill
Posted by Olog-hai* on Fri Jul 22 12:13:14 2016, in response to Re: Drill Baby Drill, posted by Easy on Fri Jul 22 12:07:42 2016.* fiogf49gjkf0d But it is government regulation that makes coal less attractive Correct.
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 12:15:52 2016, in response to Re: Drill Baby Drill, posted by Easy on Fri Jul 22 12:07:42 2016.* fiogf49gjkf0d I'm inclined to disagree with that, it's coal that makes coal unattractive. It's dirty, polluting and damages the environment. Since the midwest power generators stopped burning it, the Adirondack forests have rebuilt themselves. Prior to the nineties, there were expanding dead zones of treecover and dead lakes.
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 12:16:49 2016, in response to Re: Drill Baby Drill, posted by Olog-hai on Fri Jul 22 12:11:42 2016.* fiogf49gjkf0d Prove tmhat allegation.
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Re: Drill Baby Drill
Posted by Mitch45* on Fri Jul 22 13:29:46 2016, in response to Drill Baby Drill, posted by SMAZ on Fri Jul 22 10:50:40 2016.* fiogf49gjkf0d I would be more impressed if Obama had funded scientific efforts to develop alternate sources of power and get us off oil altogether.
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Re: Drill Baby Drill
Posted by AlM* on Fri Jul 22 13:33:46 2016, in response to Re: Drill Baby Drill, posted by Mitch45 on Fri Jul 22 13:29:46 2016.* fiogf49gjkf0d He did.
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Re: Drill Baby Drill
Posted by Olog-hai* on Fri Jul 22 13:49:16 2016, in response to Re: Drill Baby Drill, posted by Mitch45 on Fri Jul 22 13:29:46 2016.* fiogf49gjkf0d What are you talking about?
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Re: Drill Baby Drill
Posted by TerrApin Station* on Fri Jul 22 13:53:10 2016, in response to Re: Drill Baby Drill, posted by AlM on Fri Jul 22 13:33:46 2016.* fiogf49gjkf0d Lol@Mitch45! He must seriously live in his own world.
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Re: Drill Baby Drill
Posted by JayZeeBMT* on Fri Jul 22 14:13:30 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 12:16:49 2016.* fiogf49gjkf0d +1
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Re: Drill Baby Drill
Posted by R2ChinaTown* on Fri Jul 22 15:54:37 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 12:15:52 2016.* fiogf49gjkf0d It's you that makes you unattractive.
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 16:04:53 2016, in response to Re: Drill Baby Drill, posted by R2ChinaTown on Fri Jul 22 15:54:37 2016.* fiogf49gjkf0d Your trolling does it for you, every time.
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Re: Drill Baby Drill
Posted by Dave* on Fri Jul 22 16:19:48 2016, in response to Re: Drill Baby Drill, posted by Easy on Fri Jul 22 12:07:42 2016.* fiogf49gjkf0d
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Re: Drill Baby Drill
Posted by Dave* on Fri Jul 22 16:27:14 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 12:15:52 2016.* fiogf49gjkf0d "But it is government regulation that makes coal less attractive. " I'm inclined to disagree WABB! The final version of the Clean Power Plan announced by President Barack Obama last [year] aims to cut carbon emissions by 32 percent in the next 15 years, effectively shifting the country away from coal and toward less carbon intensive forms of energy. Wyoming coal faces a diminished role
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 16:30:55 2016, in response to Re: Drill Baby Drill, posted by Dave on Fri Jul 22 16:27:14 2016.* fiogf49gjkf0d Taken completely out of cntext. Sod off.
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Re: Drill Baby Drill
Posted by Dave* on Fri Jul 22 16:34:11 2016, in response to Re: Drill Baby Drill, posted by bingbong on Fri Jul 22 16:30:55 2016.* fiogf49gjkf0d How is it out of context? The newspaper gave their reason and you gave yours. I believe their reason is correct and yours is not.
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Re: Drill Baby Drill
Posted by bingbong* on Fri Jul 22 17:33:29 2016, in response to Re: Drill Baby Drill, posted by Dave on Fri Jul 22 16:34:11 2016.* fiogf49gjkf0d The reason is that you don't, like any RWer, give a damn about anything that doesn't affect you personally. Like acid rain. Burning coal produces acid rain, which then destroys forests and freshwater lakes and rivers. That's a proven fact. Not burning coal enables those affected ecosystems to renew. Since it didn't happen to you, it didn't happen. Typical RW response.
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Re: Drill Baby Drill
Posted by AlM* on Fri Jul 22 18:38:28 2016, in response to Re: Drill Baby Drill, posted by Easy on Fri Jul 22 12:07:42 2016.* fiogf49gjkf0d But it is government regulation that makes coal less attractive. I agree. It is also government regulation that made lots of other things less attractive, from leaded gasoline to throwing your chamber pot contents out of the window onto the street.
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Re: Drill Baby Drill
Posted by TerrApin Station* on Fri Jul 22 18:44:09 2016, in response to Re: Drill Baby Drill, posted by AlM on Fri Jul 22 18:38:28 2016.* fiogf49gjkf0d Bingbong disagrees. But she thinks only RW people disagree with her on this matter. You should let her know.
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Re: Drill Baby Drill
Posted by AlM* on Fri Jul 22 20:14:09 2016, in response to Re: Drill Baby Drill, posted by Easy on Fri Jul 22 12:07:42 2016.* fiogf49gjkf0d It was improved technology and fracking that allowed shale deposits to be accessed. Not government policy. Government funded research helped to develop fracking.
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Re: Drill Baby Drill
Posted by Dave* on Fri Jul 22 23:00:02 2016, in response to Re: Drill Baby Drill, posted by AlM on Fri Jul 22 20:14:09 2016.* fiogf49gjkf0d Government help is overstated but was useful. Fracking research pretty much came about from George P. Mitchell of Mitchell Energy, the Houston oilman who developed fracking technology. The company relied on research from the Sandia National Laboratory to use micro-seismic technology to map the shale fractures in wells in the Barnett Shale. The government’s role in fracking’s development was important, but not so important that it overshadows the effort and investment of private industry. Federal programs did help to gas industry engineers in figuring out how to map, drill, and recover shale gas.
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Re: Drill Baby Drill
Posted by SelkirkTMO* on Fri Jul 22 23:48:15 2016, in response to Re: Drill Baby Drill, posted by Dave on Fri Jul 22 23:00:02 2016.* fiogf49gjkf0d Psssst ... http://thebreakthrough.org/index.php/programs/energy-and-climate/remembering-george-mitchell
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Re: Drill Baby Drill
Posted by Olog-hai* on Sat Jul 23 00:32:47 2016, in response to Re: Drill Baby Drill, posted by Dave on Fri Jul 22 23:00:02 2016.* fiogf49gjkf0d Government help is overstated They helped by actually getting out of the way, for once.
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Re: Drill Baby Drill
Posted by AlM* on Sat Jul 23 06:24:07 2016, in response to Re: Drill Baby Drill, posted by Dave on Fri Jul 22 23:00:02 2016.* fiogf49gjkf0d The government’s role in fracking’s development was important, but not so important that it overshadows the effort and investment of private industry. Federal programs did help to gas industry engineers in figuring out how to map, drill, and recover shale gas. Government help is almost never the exclusive agent in bringing a product or technique to market successfully.
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Re: Drill Baby Drill
Posted by Dave* on Sat Jul 23 08:43:41 2016, in response to Re: Drill Baby Drill, posted by SelkirkTMO on Fri Jul 22 23:48:15 2016.* fiogf49gjkf0d Your point being?
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Re: Drill Baby Drill
Posted by SelkirkTMO* on Sat Jul 23 12:10:12 2016, in response to Re: Drill Baby Drill, posted by Dave on Sat Jul 23 08:43:41 2016.* fiogf49gjkf0d Government investment in getting it going.
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Re: Drill Baby Drill
Posted by Olog-hai* on Sat Jul 23 13:01:25 2016, in response to Drill Baby Drill, posted by SMAZ on Fri Jul 22 10:50:40 2016.* fiogf49gjkf0d So where be your curses for Cuomo, the fracking-ban guy?
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Re: Drill Baby Drill
Posted by Dave* on Sat Jul 23 21:51:26 2016, in response to Re: Drill Baby Drill, posted by SelkirkTMO on Sat Jul 23 12:10:12 2016.* fiogf49gjkf0d Not true. Government research on fracking became seriously under Gerald Ford, in the 1970's. Forget about fracking first being done in 1862. The birth of modern day hydraulic fracturing began in the 1940s. In 1947, Floyd Farris of Stanolind Oil and Gas began a study on the relationship between oil and gas production output, and the amount of pressurized treatment being used on each well. This study lead to the first experiment of hydraulic fracturing, which occurred at the Hugoton gas field, located in Grant county, Kansas in 1947. Despite the failure in the Hugoton gas field experiment, research continued. In 1949, Halliburton conducted two commercial experiments; one in Stephens county Oklahoma, and another in Archer County, Texas. These results were much more successful. After achieving experimental success in 1949, fracking quickly became commercialized. In the 1960s Pan American Petroleum began using this drilling technique in Stephens county Oklahoma. In the 1970s, this extraction method was being used in the Piceance Basin, the San Juan Basin, the Denver Basin, and the Green River Basin. That is what caught the attention of Ford and he promoted the development of shale oil resources as part of his overall energy plan, as a means of reducing foreign oil imports. That's when the DOE kicked it up a notch.
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Re: Drill Baby Drill
Posted by SMAZ* on Sun Jul 24 10:02:01 2016, in response to Re: Drill Baby Drill, posted by Olog-hai on Sat Jul 23 13:01:25 2016.* fiogf49gjkf0d Energy independence is a national security issue. The states ability to limit strategic energy exploration and production must be preempted by Congress and the executive branch.
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Re: Drill Baby Drill
Posted by AlM* on Sun Jul 24 10:08:26 2016, in response to Re: Drill Baby Drill, posted by SMAZ on Sun Jul 24 10:02:01 2016.* fiogf49gjkf0d Or the Supreme Court. Seizure of landowner property without compensation.
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Re: Drill Baby Drill
Posted by terRAPIN station* on Mon Jul 25 08:07:10 2016, in response to Re: Drill Baby Drill, posted by AlM on Fri Jul 22 13:33:46 2016.* fiogf49gjkf0d bump
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