Author Topic: Shale Drillers Are Outspending the World With $84 Billion Spree  (Read 3921 times)

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Offline Smokin Joe

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #25 on: May 11, 2017, 02:41:22 pm »
This strengthens the fact that OPEC is now a follower, not a leader in the world energy scene.

This only spells good things for this country's future in cheap energy and the standard of living attributable to that, as well as the geo-political world.

As long as don't screw it up with energy or carbon taxes.
The BLM methane rule which the Senate failed to pass the CRA Resolution to stop will accomplish a lot to cut back on drilling on Federal Leases if the rule isn't removed promptly. (McCain, Collins, Graham voted with the Dems against the Resolution). If your ox is getting gored, chances are there is a RINO involved.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline IsailedawayfromFR

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #26 on: May 11, 2017, 05:28:52 pm »
The BLM methane rule which the Senate failed to pass the CRA Resolution to stop will accomplish a lot to cut back on drilling on Federal Leases if the rule isn't removed promptly. (McCain, Collins, Graham voted with the Dems against the Resolution). If your ox is getting gored, chances are there is a RINO involved.
The three stooges.  Wonder which is which?
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Frank Cannon

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #27 on: May 11, 2017, 05:36:20 pm »
Just checking in before I have my lunchtime paint huff to see if there has been any resolution to the embargo question. Looks like it is still ongoing.

Offline IsailedawayfromFR

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #28 on: May 11, 2017, 05:39:06 pm »
Nixon had started price controls before the embargo, as early as "temporarily" in 1971.  The embargo was used to justify extending the price controls making the situation worse.
Yes, Nixon started it as we moved away from the Gold Standard in an attempt to stay inflation, which indeed worked in the short term but not the longer term.

Once again, it was OPEC's action which encouraged the government to keep those price controls in place.

As I had said before, both you and Frank are correct.

@thackney @Frank Cannon
« Last Edit: May 11, 2017, 05:40:24 pm by IsailedawayfromFR »
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline IsailedawayfromFR

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #29 on: May 11, 2017, 05:42:45 pm »
The BLM methane rule which the Senate failed to pass the CRA Resolution to stop will accomplish a lot to cut back on drilling on Federal Leases if the rule isn't removed promptly. (McCain, Collins, Graham voted with the Dems against the Resolution). If your ox is getting gored, chances are there is a RINO involved.
I remain puzzled on how this affects things.  It is a rule by Executive, correct?  How is the Senate involved if Trump can do a new one to over-ride?
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Smokin Joe

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #30 on: May 11, 2017, 05:58:34 pm »
I remain puzzled on how this affects things.  It is a rule by Executive, correct?  How is the Senate involved if Trump can do a new one to over-ride?
If the Senate had passed the resolution (within 60 days), and Trump had signed it, the rule would have been dead, and the BLM could not bring it up again or craft a significantly similar rule to replace it.

Now the rule has to be replaced by the BLM, or it will stand. Replacing the rule means redrafting the rule, having comment periods, hearings, etc. which will take time (several months, minimum).  In the meantime, look for drilling on federal land to drop off fast, and drilled wells which have no feeder pipelines to gas processing plants will have to cease or limit production. As a result, the Government will not get royalties, wells may be damaged, etc.
The BLM and other Federal Agencies also oversee the permitting process for the feeder pipelines,  and their delays have made the rule about methane an issue. They created or exacerbated the 'problem'. The oil companies would often like to be collecting revenue on that byproduct rather than flaring it onsite.

If you want a peek into the liberal abyss, comments on the Hill website about the rule were foaming at the mouth insane, babbling about 'toxic gas' (methane) polluting "everything" despite the remoteness of most locations on BLM land, and full of gratuitous denigration of "evil oil". Chances are the concentration of methane is higher in their hybrid car during their commute from biological sources inside the vehicle cabin than from any oil well on federal land, especially if they car pool.

« Last Edit: May 11, 2017, 06:09:50 pm by Smokin Joe »
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline thackney

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Re: Shale Drillers Are Outspending the World With $84 Billion Spree
« Reply #31 on: May 11, 2017, 06:02:33 pm »
Just checking in before I have my lunchtime paint huff to see if there has been any resolution to the embargo question. Looks like it is still ongoing.

This article starts with 5 photos of the gas lines, rationing.  The second and third photo are dated Sept. 21, 1973 and  June 1, 1973.

http://www.npr.org/sections/pictureshow/2012/11/10/164792293/gas-lines-evoke-memories-oil-crises-in-the-1970s

The OPEC agreed to the oil embargo on October 17, 1973.

http://www.history.com/this-day-in-history/opec-enacts-oil-embargo
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