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Tuesday, May 10, 2016

I'm Feeling The Bern: One Picture Worth A Thousand Words -- Democratic Party Leaders Want To Ban Fracking -- May 10, 2016

Hopefully this  link never breaks, though I suppose it will: https://www.facebook.com/photo.php?fbid=10205729775673527&set=a.1588646245952.2070009.1529720277&type=3&theater. Facebook has a history of removing this sort of stuff, they say.

Also note what EIA says fracking has resulted in: in 2016 the average household will spend $900 less on gasoline than it did two years ago.
EIA Administrator Adam Sieminski issued the following comments on the new monthly STEO forecast:
Gasoline/Refined Products: “Rising crude oil prices are likely to be passed on to consumers at the pump, but U.S. drivers are still expected to pay the lowest summer gasoline prices since 2004, and for all of 2016 the average household will spend $900 less on gasoline than it did two years ago.”
Fracking has led to this:
Crude Oil: “U.S. crude oil production in 2017 is expected to be more than 100,000 barrels per day higher than previously forecast in response to higher oil prices. Higher oil demand in China and India will contribute to a drawdown in global oil inventories during the second half of 2017.”
Natural Gas: “Low natural gas prices may slow the growth in U.S. natural gas production for the next few months.” “Big builds in U.S. natural gas inventories are expected during the months ahead, leaving inventories at a record high at the start of the heating season in November.”
Obama's war on coal continues unabated; EIA conveniently forgets to mention why natural gas is so competitive; it's not just due to fracking:
Electricity: “The annual amount of electricity generated by natural gas will exceed the generation from coal-fired power plants this year for the first time. Coal-fired electricity generation will be 8% lower this year, while natural gas generation will increase by 4%.”
Coal: “High natural gas production and low natural gas prices are making coal a less competitive generating fuel for many U.S. power plant operators. U.S. coal production this year is expected to have the biggest volume decline in almost seven decades.”
And then, of course, the update on wasteful, unreliable, intermittent, eagle-killing, energy:
Renewables: “Wind power will account for almost 6% of U.S. total electricity generation in 2017. Ethanol’s share of U.S. gasoline will average 10% this year and in 2017.”

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