Gas prices have jumped as of late. Will a loss of 220,000 barrels a day cause gas prices to continue upward? or Will it mean that the USA will just buy it elsewhere?
More than two months after the Obama administration lifted its ban on drilling in the deep-water Gulf of Mexico, oil companies are still waiting for approval to drill the first new oil well there. Experts now expect the wait to continue until the second half of 2011, and perhaps into 2012.
The slowdown also has long-term implications for U.S. oil production. The Energy Information Administration, the research arm of the Department of Energy, last month predicted that domestic offshore oil production will fall 13% this year from 2010 due to the moratorium and the slow return to drilling; a year ago, the agency predicted offshore production would rise 6% in 2011. The difference: a loss of about 220,000 barrels of oil a day.
http://online.wsj.com/article/SB10001424...d=yahoo_hs
Old School Wrote:Gas prices have jumped as of late. Will a loss of 220,000 barrels a day cause gas prices to continue upward? or Will it mean that the USA will just buy it elsewhere?
More than two months after the Obama administration lifted its ban on drilling in the deep-water Gulf of Mexico, oil companies are still waiting for approval to drill the first new oil well there. Experts now expect the wait to continue until the second half of 2011, and perhaps into 2012.
The slowdown also has long-term implications for U.S. oil production. The Energy Information Administration, the research arm of the Department of Energy, last month predicted that domestic offshore oil production will fall 13% this year from 2010 due to the moratorium and the slow return to drilling; a year ago, the agency predicted offshore production would rise 6% in 2011. The difference: a loss of about 220,000 barrels of oil a day.
http://online.wsj.com/article/SB10001424...d=yahoo_hs
The Obama/Pelosi/Reid War on Domestic Energy has been a disaster and will result in higher energy prices for many years to come. I predict that Democrats will soon be blaming the price hikes on greedy oil companies again and urging Republicans to join with them to pass a windfall profits tax.
How do these nitwits expect to maintain the required energy production needed to maintain the lifestyle we have grown accustom too? They have stopped all new coal fired power plants that have been proposed within the the last two years. The EPA has not issued any sizable new coal mining permits and now no new deepwater drilling permits until maybe 2012 in the Gulf.
The only bright spot is that the enviro's are fighting among themselves about where to and where not to build wind and solar farms.
Old School Wrote:The only bright spot is that the enviro's are fighting among themselves about where to and where not to build wind and solar farms.
Speaking of the wind farms. Wouldn't all of our mountain top removal sites make good spots for farms? I mean since mining is on the decline, that would offer some new jobs wouldn't?
Are we at war with Iran or something?
vundy33 Wrote:Are we at war with Iran or something?
No, but the Obama administration has declared war on fossil fuels - just as he promised that he would. I am looking forward to the EPA folks testifying before House committees in 2011. Their free ride over the Constitution is over at last.
Amun-Ra Wrote:Speaking of the wind farms. Wouldn't all of our mountain top removal sites make good spots for farms? I mean since mining is on the decline, that would offer some new jobs wouldn't?
Of course they would, but you won't hear anything good about that from these guys here.
I think that'd be a good idea. lol. Just seems like everyone around here is content with what they have and don't want to try anything new.
The problem with wind farms is that they need wind and in frigid weather there is little wind to be had. That is the lesson that they are learning in Europe, where several countries "lead" the US in the development of wind power.
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Quote:Wind farms stumped by cold weather
It has been warned that ineffective wind farms could cost the country billions of pounds, as well as causing blackouts and triggering an economic crisis. This is due to the inability of wind farms to produce any energy in extremely cold conditions.
To make up for this lack of energy production, the government will have to build emergency back up power plants, the bill for which will be fronted by the public.
The director of the Energy Intensive Users Group, Jeremy Nicholson has said that failure of wind how has very profound implications. This comes after new figures have shown that during the recent cold period, wind power produced less than two percent of the nation’s electricity. He says that because of this, the government will encourage companies to build back up stations in case of further failures. more
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I did not vote for Obama, and thus far, have not been a supporter of his. However, to wish him failure wishes this country failure. I wish he would succeed. With that being said, he promised that he would declare war on fossil fuels and he has. He promised that energy costs would go up and they have. My friends, we have not nearly seen the worst yet. The price of gas and electricity will keep going up. And those are two things we must have. So there is not a thing we can do but pay up. But I can see why we need to declare war on fossil fuels. This global warming thing is freezing me to death.:lmao:
TheRealVille Wrote:Of course they would, but you won't hear anything good about that from these guys here.
I do not oppose wind farms (at any location) or any other form of alternative energy for that matter. Energy demands for this country is expected to increase over the next few decades. Today we receive nearly 50% of our energy from coal, while wind and solar supply about 3% of these demands. My beef with the enviros is that they are out to stop all forms of coal mining, today and for some reason they can't or won't consider how we will replace the 47% of our energy needs let alone the additional energy needed in the future.
Benchwarmer Wrote:Could you explain.
Be glad to. For the past two years, Democrats in Congress have given Obama a blank check while refusing to provide proper oversight of the Executive Branch of our government.
When one party controls the House, Senate, and White House, things are always easier for the occupant of the 1600 Pennsylvania but the most recent Congress was easily the most irresponsible in that regard of any in my lifetime. Because the Republican Party includes many legitimate fiscal conservatives (and many more who falsely claim that label), Republican Congresses tend to provide some oversight even when they control the White House.
However, the toughest questions are always posed to the President and his staff when another party controls the committee gavels in one or both houses of Congress. Public hearings under these circumstances produce sound bites that even the mainstream media cannot resist airing.
Even in the absence of contentious public hearings, the last Congress managed to post the lowest approval ratings since polls have been taken.
Republican Darrell Issa of California will quickly become one of the Obama administration's favorite villains and he even has a chance to displace Sarah Palin and Rush Limbaugh at the top of Obama's enemies list. Issa has subpoena power and he is eager to use it.
So, the bottom line is that the past Congress failed to provide proper oversight of federal agencies and the House of Representatives faces a target rich environment. The national debt is climbing at an unprecedented rate and something must be done to reverse the momentum. The House controls the federal government's purse strings but it also has the responsibility to ensure that agencies enforce laws and do not make their own laws. Those two tools will be extremely powerful if Republican representatives do not go wobbly on us.
The EPA's plan to regulate CO2 emissions as a pollutant will be among the first abuses of power to be daylighted and I, for one, cannot wait for the fun to begin.
Hoot Gibson Wrote:Be glad to. For the past two years, Democrats in Congress have given Obama a blank check while refusing to provide proper oversight of the Executive Branch of our government.
When one party controls the House, Senate, and White House, things are always easier for the occupant of the 1600 Pennsylvania but the most recent Congress was easily the most irresponsible in that regard of any in my lifetime. Because the Republican Party includes many legitimate fiscal conservatives (and many more who falsely claim that label), Republican Congresses tend to provide some oversight even when they control the White House.
However, the toughest questions are always posed to the President and his staff when another party controls the committee gavels in one or both houses of Congress. Public hearings under these circumstances produce sound bites that even the mainstream media cannot resist airing.
Even in the absence of contentious public hearings, the last Congress managed to post the lowest approval ratings since polls have been taken.
Republican Darrell Issa of California will quickly become one of the Obama administration's favorite villains and he even has a chance to displace Sarah Palin and Rush Limbaugh at the top of Obama's enemies list. Issa has subpoena power and he is eager to use it.
So, the bottom line is that the past Congress failed to provide proper oversight of federal agencies and the House of Representatives faces a target rich environment. The national debt is climbing at an unprecedented rate and something must be done to reverse the momentum. The House controls the federal government's purse strings but it also has the responsibility to ensure that agencies enforce laws and do not make their own laws. Those two tools will be extremely powerful if Republican representatives do not go wobbly on us.
The EPA's plan to regulate CO2 emissions as a pollutant will be among the first abuses of power to be daylighted and I, for one, cannot wait for the fun to begin.
:Thumbs:
If they are after the coal industry why are they not after the car industry? Or, is that a stupid question.