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Posts tagged ‘fracking’

Today’s TWO Politically INCORRECT Cartoons by A.F. Branco


A.F. Branco Cartoon – King Putz

Governor Walz played politics buy allowing only 250 people into a Trump rally in Minnesota.

01 King T AN 1080 Political cartoon by A.F. Branco ©2020.

A.F. Branco Cartoon – The Color of Doom

Biden says if he’s elected there will be no Red or Blue states, but we know what color they will be.

Biden Green StatesPolitical cartoon by A.F. Branco ©2020.
Donations/Tips accepted and appreciated – $1.00 –  $5.00 –  $25.00 – $50.00 – $100 –  it all helps to fund this website and keep the cartoons coming. Also Venmo @AFBranco – THANK YOU!

A.F. Branco has taken his two greatest passions, (art and politics) and translated them into the cartoons that have been popular all over the country, in various news outlets including “Fox News”, MSNBC, CBS, ABC, and “The Washington Post.” He has been recognized by such personalities as Dinesh D’Souza, James Woods, Sarah Palin, Larry Elder, Lars Larson, Rush Limbaugh, and shared by President Donald Trump.

Biden Claims He Never Opposed Fracking (He Did)


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Read more at https://www.conservativereview.com/biden-claims-he-never-opposed-fracking-he-did-2648453241.html/

Energy industry: Thank fracking for Memorial Day driving on the cheap


waving flagBy John Siciliano | May 21, 2015

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The oil industry is touting shale oil and fracking for making Memorial Day driving more affordable this weekend.

“Thanks to hydraulic fracturing and horizontal drilling, the U.S. is experiencing a renaissance in domestic oil and natural gas production. The benefits for U.S. consumers — as well as manufacturers, the travel and tourism industry and frankly our entire economy — are hard to overstate,” John Felmy, chief economist with the American Petroleum Institute, said in a conference call with reporters.

Hydraulic fracturing is the process by which water and sand are injected deep underground to release oil and gas from large shale rock formations. The advent of new drilling technologies that enable oil producers to drill horizontally through the formations has made the process more affordable, leading to an energy renaissance in the country and the United States becoming a global leader in oil production.

The increased production has caused the U.S. to import less from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries. That has led to more supply being available on the global market, deflating the price per barrel of oil, which in turn has lowered gasoline prices for consumers.

Felmy said the national average price of gasoline is about $1 per gallon less than it was at this time last year, based on data from AAA. The association also said more drivers will be on the road over the weekend in the Mid-Atlantic region compared with last year, with some states projected to experience the highest number of travelers on the road in a decade.

Oil shale production has provided “welcome relief at the pump,” he said. Without the added supply, some have suggested price per barrel could have climbed as high as $150 per barrel. Today’s prices are between $59 and $66 per barrel, compared to nearly $100 a year ago.

Felmy said the advent of shale production should keep the “new equilibrium below the 100 dollar mark.” He said the government should not take low prices “for granted.” Instead, the more affordable gasoline prices should spur policymakers to keep regulations predictable for oil producers and avoid punitive tax regimes.

“In order to maintain a robust supply of domestic oil, it is essential that the industry be allowed to affordably and predictably explore for and develop new resources,” Felmy said.

“That means companies must be able to lease acreage and obtain permits in a timely fashion. It also means the federal and state governments should avoid punitive tax regimes that would cause energy companies to look elsewhere for the best opportunities,” he said.

“With the right policies, our energy renaissance can endure for decades and help even more families afford to take a vacation on Memorial Day weekend,” he said.Gas Prices the day Obama took office

The Interior Department’s Bureau of Land Management is on track to implement new regulations for fracking that the industry is warning could increase the cost of production. Several states and industry are suing the agency over the rules that are set to go into effect next month.freedom combo 2

How low can it go? Oil, gas prices in freefall as OPEC reels from US fracking


FoxNews.com, Published November 29, 2014

URL of the Original Posting Site: http://www.foxnews.com/world/2014/11/29/opec-keeps-oil-output-steady-despite-falling-prices/

Mideast Bahrain Oil Prices-1.jpg

A row of oil pumps work in the desert oil fields of Sakhir, Bahrain. OPEC nations have agreed to keep supply steady, putting new pressure on US producers. (The Associated Press)

Drivers paying less at the pump due to free-falling oil prices can thank the U.S. energy boom for generating shale oil – and weakening OPEC’s ability to keep the cost of a gallon of gas high.

In just a matter of months, the price of a barrel of oil has dropped from more than $100 to about $70, and gas is now cheaper than it has been in years. But a recent report conducted for the American Petroleum Institute claimed oil would cost twice as much as it does now if it weren’t for America’s fracking boom, which wrings oil and natural gas out of shale miles underground.

But the next question could be whether the fracking industry can survive the low prices it brought.

“The shale boom is on a par with the dot-com boom,” Russian oil baron Leonid Fedun of OAO Lukoil told Bloomberg. “The strong players will remain, the weak ones will vanish.”

OPEC, the cartel of oil-producing nations that has historically been able to calibrate the price of oil – and ultimately gasoline – by increasing or decreasing supply, announced Thursday that it won’t fight the price skid by cutting production this time. That likely means prices will continue to fall, and the more costly production technique of fracking could become cost-prohibitive, say experts.

Drivers have benefited in recent months from the falling prices, the API study found.

“This reduction in petroleum product prices have saved U.S. consumers an estimated $63 to $248 billion in 2013 and estimated cumulative savings of between $165 and $624 billion from 2008 to 2013,” stated the report.

OPEC decision to maintain a production target of 30 million barrels a day was seen as a reflection of its members view that the short term pain was necessary to pressure rival producers in the U.S., who need moderate oil prices to break even. Saudi Arabia, the leader of OPEC, appears to be hoping to drive prices below the level at which shale oil production is economical. Experts say shale oil production turns too costly at the $60 a barrel level.

But other OPEC countries may not be able to withstand the steady production and the falling prices it brings. OPEC members like Venezuela and Nigeria need levels close to $100 or above to fund national budgets. Saudi rival Iran is suffering, too, with the price drop adding to huge revenue losses due to sanctions on its crude sales imposed over its nuclear program.

And Russia’s economy is in trouble, making falling oil revenues a problem there, as well.

“I think you’re going to see additional tension between the OPEC ranks,” said Jamie Webster, senior director of crude oil markets at IHS consultants.

In the U.S., gasoline prices are averaging $2.82 per gallon, the lowest price this time of year since 2009, according to the U.S. Energy Information Administration, which says the average U.S. retail regular-grade gasoline price has fallen 88 cents/gal since the start of July.

But in the U.S., consumers’ joy at pump prices falling toward $2 a gallon will be tempered by fears the burgeoning economy in places like the Dakotas, Texas and Oklahoma could be hurt by the lower cost. The industry is credited with creating nearly 2 million jobs, a number projected to double by 2035.

“If prices don’t recover soon this could be the beginning of the end of the Great American oil fracking boom,” Forbes’ Christopher Helman recently wrote. BIgger energy companies with money of their own to invest might be able to ride out the dip, but smaller, highly-leveraged oil and gas companies will have problems, he said.

By WhatDidYouSay.org

By WhatDidYouSay.org

Very Important Video of the Day.


After viewing this you will not be surprised with what you hear. It will confirm all you have ever thought might be the case with Hollywood and Islam.

Hollywood in bed withIslam

https://www.youtube.com/watch?feature=player_embedded&v=KOX5ehfFF7I

Wake up AmericaVOTE 02

 

 

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