General Category > Economy/Business
Shale Drillers Are Outspending the World With $84 Billion Spree
Smokin Joe:
--- Quote from: IsailedawayfromFR on May 11, 2017, 05:42:45 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?
--- End quote ---
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.
thackney:
--- Quote from: Frank Cannon 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.
--- End quote ---
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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