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U.S. Passes Saudis In Oil Output, No Thanks To White House


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040513-650864-private-sector-boom-responsible-for-us-energy-surge.htmInvestors Business Daily:

In spite of the Obama Administration's hostility to carbon-rich energy, private actors with private capital deployed on private (and state) land have launched a game-changing revolution in domestic oil and natural gas production.

A scarcely reported milestone conveys the magnitude of this turnaround in the global energy landscape.

The U.S. passed Saudi Arabia as the world's largest petroleum producer in November 2012, according to recently released data of the federal Energy Information Administration.

Over the last five years, domestic oil output has risen 40% and continually outpaces projections. Last year, domestic output increased by 800,000 barrels per day. This is the largest increase in annual production since the first oil well was drilled in 1859 in Pennsylvania.

The U.S. is primed to become the world's dominating energy powerhouse for decades to come unless President Obama elects to quash this private sector stimulus of enormous proportion.Scissors-32x32.png

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And the fraud Fisker tossed 75% of it's workforce today.

 

Coal-powered cars, not working out so well.

 

Of course you do understand this is all part of a giant insidious plot by Big Oil.

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Benefits of hydraulic fracking

Kevin A. Hassett, Aparna Mathur

April 04, 2013

 

 

A version of this article is forthcoming in the Oxford Energy Forum, Issue 91, Oxford Institute for Energy Studies. Click here to view as a PDF.

 

If an average American heard the word 'fracking' ten years ago, chances are he or she would have worried about the manners of the speaker. Today, however, opinions about fracking are solidifying, and battle lines are being drawn, even if understanding remains sketchy. For many on the American left, fracking connotes something dangerous, unhealthy - even, as in a recent Hollywood production, potentially nefarious. For those on the right, fracking is often regarded as the best hope for a struggling economy.

 

While the outcome of the policy struggle is impossible to predict, the economic stakes could hardly be higher.

 

Hydraulic fracturing, or fracking as it is more commonly called, is a process that's been used to extract oil and natural gas since it was first introduced by Standard Oil in the 1940s. Over the past decade, as other technologies have combined with the use of fracking to make the tapping of shale profitable, it has contributed to a resurgence of oil production in the USA and a dramatic increase in natural gas production. Proponents of fracking have hailed it as a major development in the energy industry, one that has allowed for tapping of reserves of gas and oil that were previously prohibitively diffcult to reach. In some parts of the country, most notably in North Dakota, this has lead to massive expansions of energy production, and gold rush level increases in economic activity.

 

As enthusiastic as are its supporters, fracking faces equally determined opponents who view its environmental consequences as excessively negative, and there is significant variation across the United States in policy. The most notable focal point of opposition to fracking is New York state, which placed a moratorium on it in 2008, but other states have been as aggressive. Vermont has formally banned the practice, and New Jersey has enacted a moratorium as well. Many other states seem likely to follow.

 

 

(Snip)

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I assume that the reason that we are still paying high gas prices is refining - taxes- special blends by EPA?????

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