Trump Launched An Energy Revolution -- Investor's Business Daily -- July 9, 2017

Updates

July 9, 2017: see first comment which included link to this story -- http://www.rigzone.com/news/oil_gas/a/150490/Key_ShaleBoom_Booster_Threatened_by_Trumps_SpendingCut_Plans
 

Original Post

 

Everyone was obsessing about President Trump's tweets -- meanwhile, he launched his energy revolution -- that's what the IBD op-ed writer suggests.

Op-ed link here.

The writer says that President Trump launched the US energy revolution. 

That's simply not accurate. The revolution began in 2000 when oil companies cracked the Bakken code in eastern Montana. That beginning was fairly unremarkable and would have probably died had the same operators not cracked the Bakken code in the Parshall oil field in western North Dakota in 2007.

It was all about timing and a lot of luck. Had faux environmentalists been just a bit quicker, it's a real possibility they could have killed hydraulic fracking in its infancy, but the public-private partnership developed too quickly for anyone to stop it. But that doesn't mean the faux environmentalists didn't try. They were successful in getting the Keystone XL killed (even though Hillary Clinton initially supported it); they came close to killing CBR; and, they delayed DAPL for several years. They tried their best to stop fracking with fake studies and fake news. It took a US senator to get the BLM moving in the Fort Berthold Indian Reservation, one of the key locations in the Bakken.

I maintain that President Trump caught the wave and rode it. He did not launch the revolution; he made sure it kept going. Hillary/Sanders/Schumer/Pelosi would have killed it; California would have seen $5-gasoline; and, America would have been dependent on Saudi Arabia and OPEC once again.
Having said all that, it will be interesting to see how IBD saw the development of the revolution.

From the linked op-ed:

Last week President Trump announced plans to make the U.S. not just energy independent, but a global energy powerhouse.

Too bad everyone was hyperfocused on his tweets.

On Thursday, Trump said he was ushering in a new energy policy that marked an end to decades of fretting about an alleged "energy crisis" brought on by supposed limited domestic supplies and an insatiable demand for fossil fuels.

"We now know that was all a big, beautiful myth," Trump said in remarks at the Department of Energy. "The truth is that we have near-limitless supplies of energy in our country."

Trump had already taken several steps toward unleashing domestic energy supplies, but he announced six more that he plans to take, including reviving nuclear energy, lifting barriers to building coal plants overseas, building more energy pipelines — including one into Mexico — increased natural gas exports, and creating a new offshore-leasing program.

Much more at the link.

I'm not sure why it was "too bad" everyone was hyperfocused on his tweets. I think it's great that the mainstream media is focused on his tweets -- mostly because it speaks volumes about those journalists. [By the way, the vast majority of Americans complaining about the president's tweets have never read one of his tweets at Twitter.]