- The administration is so anti-oil that leads to the predicament that we are in.
- Gulf of Mexico was closed for much of last year, and will be closed to drilling most of this year.
- If administration was serious about a) jobs; and, b) energy independence, the government would set a mandate for US to produce 10 million bbls of oil per day. Right now the US is down to 7 million barrels and heading to 6 million barrels.
The "glut" at Cushing is 37 million barrels which represents two days of consumption for the US. The reason for this glut is twofold: a) European oil is being sent to the East Coast because demand for oil in Europe has been decreasing (this, of course, will change with events in Libya); and, b) lower refinery demand in the south during the winter months.By the way, once the US reaches 6 million bbls of oil production per day and North Dakota produces 1 million bopd, ND will account for almost 20 percent of American-produced oil (17%). Kind of exciting.
And, another "by-the-way," I see that oil futures (WTI) is up another $2.80, just pennies shy of $101.
And one of the "talking heads" hit the nail on the head. See connecting the dots.
America has been consuming hydro carbons produced from drilling in the ground for over a hundred years. Looking back over several administrations and dynamics of congresses during that period of time what is a record of who has done will to reduce our dependence and who has not. What has worked and what has not?
ReplyDeleteSeems to me no one has done much of anything to help the situation. About all I have seen anyone do is go to Saudi Arabia and get on their hands and knees and beg for more production.
Unrelated Note: The theory that petroleum came from decomposed animals was advanced about the time that we determined that earth was not flat. When you look at a typical oil deposit you see source rock, reservoir rock and cap rock to contain the oil. How is it than an animal can die and not decompose until all three of these rock types are deposited over the dead animal? That just does not seem very likely.
Hydrogen and Carbon are two of the most common elements known to man. I feel we are consuming hydro carbons not fossil fuel.
Seems our approach to energy independence gets about as much attention as our curiosity as to where hydro carbons actually come from.
Great note. Thank you. I agree; there's a lot more to this than we are being told.
ReplyDeleteHave a great day and thank you for taking time to comment.
Brilliant looks like we will need to rewrite a few textbooks and rearrange some university curricula. Thank you for this enlightenment !! This solves everything and all it took was one erudite email!!! Is the poster one of John hofmeisters technical advisors?
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