[PJMedia] Despite the huge sums of Russian money spent to discourage US domestic hydrocarbon production production, there's a glut on the oil market that is demolishing the ruble. The New York Times reports that the Kremlin bankrolled protests against fracking in Europe. Green was really Red. Doesn't it always?
...But the Red/Green campaign availed not. Daniel Yergin writes in the Wall Street Journal that Putin is being crushed by politically incorrect America. "The decision by members of the Organization of the Petroleum Exporting Countries on Thursday not to cut production reflects a profound shift in the world oil market. The demand for oil -- by China and other emerging economies -- is no longer the dominant factor. Instead, the surge in U.S. oil production, bolstered by additional new supply from Canada, is decisive. This surge is on a scale that most oil exporters had not anticipated. The turmoil in prices, with spasmodic plunges over the past few days, will likely continue." Technological advances mean North American oil might be viable right down to $50 a barrel. Which, IMO, means the end of Islam as a factor in World Politics
From your keyboard to the ear of God, g(r)omgoru.
Oil was $10 a barrel a few decades back and Islam was a factor in World Politics, so don't get your hopes up...
#1
And if its below 50? This is one instance where a temporary subsidy would be in line, to keep US production going - some of the low-end wells cannot be brought back once they are shut down.
#2
Old Spook, that was the logic applied to exempting 'stripper' wells from the Nixon era price controls - won't be operated for long at a loss and once abandoned, cannot be redrilled. Each one may only pump a barrel or two a day, but it added up to a million barrels a day - and many of those wells are STILL pumping that barrel or so a day.
#5
What is needed is a tariff to keep imported oil above $65. Proceeds to fund research into *next generation* solar cells and nuclear energy, and then to fund pilot installations.
Are they always plugged when abandoned there? We have an inventory of really old wells that haven't been operated in decades that we work over occasionally as time permits.
#7
But KBK, those tariff revenues would just be diverted to politically-connected parasites - like Solyndra, etc. All sounds good, but will never actually DO what is said.
#8
I'd say tax exempt status for local ptoduction before tariffs on goreign oil.
And everyone filling their gas tank in the US should be required to answer "Fraking - Love it or Ban it" before pumping anything. If you answer "ban" then you pay an extra $1/gal.
#9
There are a couple of hundred stripper wells in the Denver/Julesburg basin, north of Denver. Each produces a few barrels a day, and are forced to sit idle at least a few days each month. They COULD be re-drilled, but not to any great advantage, and it would take decades to recover the cost. There are several very deep coal seams all across the Great Plains (and elsewhere) that are too deep to mine, but which could be tapped for natural gas. There are other places all across the US that COULD be tapped economically, but which the Greens, with the help of the government, keep closed off. That won't work forever - eventually those areas will be opened. In the meantime, we need to invest in nuclear energy and infrastructure hardening.
Posted by: Old Patriot ||
12/02/2014 16:07 Comments ||
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#10
Fracking permits down about 40 % as reported in Reuters today; appears to be only a pause to see what is going on and not a panic flight reaction.
h/t Instapundit
As Barack Obama invites in five million illegals to scoop up American jobs, and as those normal Americans lucky enough to still have jobs wait in traffic while morons block the freeway because some Swisher Sweets-puffing felon got himself killed, Hillary Clinton's chances in 2016 plummet. So it turns out that Obama is likely to achieve one great thing as president -- he'll keep Hillary from ever occupying the Oval Office.
It is important to understand that neither the executive amnesty scam nor the bogus outrage over Ferguson actually had anything to with race per se. Obama and his gang are Marxists. This was always about class. The Obama coalition is not the traditional Democrat coalition. It is primarily a class coalition. It is the Democrat Party base and nothing more, made up of rich/academic upper class whites, the unionized government hack sub-class, and lower class welfare recipients. When it won in 2008 and 2012, the coalition added just enough others to push it over the top. But now, those others -- primarily middle and working class people employed in the private sector -- are fleeing to the GOP. And those were the people Hillary was counting on supply enough votes to win. Glenn's comment: With another Democrat in the White House, Obama's a has-been. With a Republican and an angry 35% constituency, he'll matter -- basically, Al Sharpton writ large.
#1
Glenn is correct. A Democrat in the White House who is somehow able to work with the congress like Bill Clinton did, will paint the Champ as the ultimate Dem loser. With a Pub in the Oval Office, he'll simply be remembered as the first black president, and champion of amnesty and ACA.
I doubt the White House shadow gov't troika [FLOTUS, ValJar, and Rice] have any use for the likes of a wealthy, white Beest either.
#2
Don't count out Hillary - or any other Dem - just yet.
Unless and until the Repubs find a way to overcome the vote of the publicly funded - welfare recipients, yes, but more importantly public employees, grant recipients, and subsidy recipients - the chances of getting a Republican elected are slim, and the chances of getting a fiscal conservative elected are zero, especially in a down private economy.
47% and all that. All Hillary or any other Dem has to do to get to that 47% is promise that not one cent of any publicly sourced income will be touched, and challenge the Republican who is running to make the same pledge (which they shouldn't and won't), and she will have the vote of every welfare recipient, every government worker, everyone with a government pension, and every recipient of a government grant or subsidy. Even people who are nominal Republicans and conservatives will, once in the voting booth, pull the lever for the party of the magic paycheck. They will crawl over a field of broken glass while naked to vote for the Democrat.
That's just how it is in 2014.
Posted by: no mo uro ||
12/02/2014 6:03 Comments ||
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#3
Excellent point nmu. Your first para is a very apt description of the 'Chicago Machine.' Pubs have not made if far there for decades.
#4
Respectfully disagree w/ NMOU's all-inclusive "...every government worker, everyone with a government pension...",
I can point to at least 2 in that category that will not be pulling a D lever in any Nat'l election.
#8
I would think that by now you all know that fellow 'burgers I do not include in that cohort. In particular those who have served in the military (for which I am deeply grateful).
If you took offense, apologies. I was not referring to any of you. It is obvious from the contents of your posts that you aren't like that.
(Haven't we been through this before?)
Nonetheless, the point I made is a valid one. The fact that there are a few good people like the public workers and pensioners who post on this site in the publicly funded sector does not mean that way north of 95% are anything different than what I described. Don't take it personally. That's just how it is.
Posted by: no mo uro ||
12/02/2014 14:18 Comments ||
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#9
"With another Democrat in the White House, Obama's a has-been. With a Republican and an angry 35% constituency, he'll matter"
I disagree. Follow Obama with another Dem and they'll take the heat for how messed up things are (same for any Republicans that take over but don't fix things pronto) while Obama continues to get his W's fault pass.
And Presidents don’t simply show up whenever they please to address the Congress, they must be formally invited. That’s where Boehner and McConnell can strike a blow for the legislature…simply don’t invite him.
Yesterday, Boehner said, “The president had said before that he’s not king and he’s not an emperor,” Boehner says. “But he’s sure acting like one.”
Why would the Speaker invite such a man to address “the people’s house”? All Obama would do would use the time to lecture members of a co-equal branch on what they must do and what he deems acceptable work product for them. Members of the United States Congress are under no obligation to sit mutely while the President brow beats them.
#1
Presidents used to send the State of the Union to congress as a letter. Only in the last century have the presidents started addressing congress in person.
While the historical precedent says congress can not invite him... they won't and will invite him anyway. I think the political fallout and the smear campaign the MSM will wage would be not worth it.
Next year if Obama keeps acting like a spoiled twit however.....
#3
At a minimum, a lot of the members should pass on the event - they only enhance Obumble's prestige by showing up as window dressing, and they play virtually no other role.
I would certainly have something better to do that listen to Obumble's platitudes and lies. Life is too short to waste any of it being a prop to a feckless loser.
#6
They'll invite him, long winded speech, whether they agree with him or not they will all sit there and applaud him rather loudly for fear of being called a racist.
Posted by: chris ||
12/02/2014 6:36 Comments ||
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#7
Would Congress Really Refuse To Invite Obama To Give The State Of The Union?
You lie! - Rep. Joe Wilson
so, why bother? Just send the text over to save everyone's time.
#10
Republicans tend to do the proper thing even when it is stupid. In my humble opinion this is one time when they should do the proper thing. Show up and show more respect for the office of the president than the President himself does (and say that in the interviews after).
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
And Presidents don’t simply show up whenever they please to address the Congress, they must be formally invited. That’s where Boehner and McConnell can strike a blow for the legislature…simply don’t invite him.
