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(CNN)   Obama's plan to destroy the oil industry has resulted in the US becoming the world's largest oil producing nation by 2020. Can't he do anything right?   ( divider line
    More: Interesting, International Energy Agency, United States, U.S. Energy Information Administration, oil producers, countries by natural gas production, Republican, Economic Calendar, energy market  
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8395 clicks; posted to Main » on 12 Nov 2012 at 3:20 PM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-11-12 09:01:15 PM  
The only thing he'll take credit for is something that Bush did and he has tried to stop. What a leader.
2012-11-12 09:16:10 PM  
Heh... The unconventional oil and gas incentives began in the 70s and the technology was perfected in the early 2000s.

But nice try, Obamitter.
2012-11-12 09:22:56 PM  
Besides the symbolism of his albedo, how can one possibly consider BO a liberal?
2012-11-12 10:00:18 PM  

xanadian: Yeah, but don't expect the price of gas to fall anytime soon.

I also recall that the US is currently THE leader (or near the top) in gasoline exports. It's supposedly one of the factors that's driving up the cost here at home.

To make matters worse, they are not really building new/expanding refinery capacity.
GREAT way to make even more money in US.

2012-11-12 10:02:21 PM  
oil isnt going anywhere.
2012-11-12 10:05:29 PM  

Robert1966: There's still a finite amount of fossil fuel. We will run out, and it is moronic for anyone to behave as if we will not. Thinking about 2020 or 2030 is still being ridiculously short-sighted.

People have been selling this chestnut since drake tapped his first well.
Everyone knows that the US hit peak production in the 70s and the world hit peak production in the 00s.
So why have ANY of the numbers gone up??


Julian Simon. Read him. Obey him. Or just shut the fark up.
/funny how he has been proven correct, year and year, decade after decade. but the chicken littles just keep squawking
2012-11-12 10:11:08 PM  

The oil industry is doing well despite Obama's best efforts to kill it, not because of them.

2012-11-13 06:25:21 AM  

DerekHoge: oil isnt going anywhere.

Yeah. Yeah it is. Well, not that we will run out or anything -- more precisely, supply will become increasingly unable to meet demand, especially with China and India's constantly increasing energy needs.

If we're smart we'll switch to new fuels because 1) they'll be much cheaper in the long run and 2) oil can be sold as a source of revenue instead of consuming it. Also, that energy independence thing is a crock of shiat. It will insulate us against the whims of the MidEast as far as supply goes, but oil is still a fungible commodity. We have to buy it off the market (or not sell it, which costs the same) no matter who produces it or where, and if the MidEast cuts off its supply prices will still skyrocket. The only real way to be energy independent is to not use oil.

mark12A: Hydrocarbon fuel is going to be around for hundreds of years to come. After shale gas comes shale oil, after that we make gasoline from coal, after that methane hydrates....

I bet we get algae biodiesel before any of that needs to be used.

mark12A: Wind will always be a bit player, and solar will only happen when we have a cheap way of storing it

I don't believe that about wind, especially not when we get high altitude wind power rolling. As for solar, there are ways to store energy. Solar thermal plants can use molten salt, packed rock, or perhaps a new method. The possibilities are endless, really.

mark12A: ECONOMICAL solar production of hydrogen. Could happen, but the physics say it ain't easy.

Nah, ittl happen. This is an issue of figuring out the physical chemistry, there is no inherent reason why it can't work. A prototype cell has just been invented that will convert sunlight directly into hydrogen using very cheap materials. It's crude at this point but that only makes it more likely that efficiency will go up significantly as they refine it.

namatad: Everyone knows that the US hit peak production in the 70s and the world hit peak production in the 00s.
So why have ANY of the numbers gone up??

They haven't -- none of the important ones anyway. U.S. production has only gone up compared to the early 2000s, it is still much lower than it was back in the 70's and 80's and the stuff we're extracting now is more difficult and energy intensive to get at. World production has basically flatlined for the past 6 or 7 years, which is what you'd expect near / at the top of a Gaussian curve. Even our newfound production doesn't help because the MidEast is dropping off significantly. We're walking along the summit, and when we step up on a random rock you take it as proof that we're not at the top yet. By all means, put your fingers in your ears, chant la la la and clutch desperately to the status quo, but like it or not, we're going to have to transition. Just be glad that in the future you'll be able to take advantage of the work of people with more foresight.
2012-11-13 08:16:54 AM  
should read "inspite of obama", private property drilling, how does it work?


"The Interior Department on Friday issued a final plan to close 1.6 million acres of federal land in the West originally slated for oil shale development."
2012-11-13 08:23:02 AM  
I predict more earthquakes.
thesantosrepublic.comView Full Size
2012-11-13 08:44:28 AM  
Obama getting credit for things Bush put into play? You don't say......
2012-11-13 12:37:13 PM  

Pick: Obama getting credit for things Bush put into play? You don't say......

People keep blaming Obama for Bush crashing the economy, so it balances out.
2012-11-13 01:38:10 PM  

GT_bike: Actually Obama and his buddy Buffet oppose it. That way we can help Buffet reap $47 billion in cash. Just his train operation (BNSF) is up wildly at 72% where he hauls coal, oil and sand. Coal to the power plants. Oil to the refiners. Sand to the Frackers.

There's this pipeline...called the Keystone Pipeline. Not the Keystone XL, just the Keystone. It's already in use and it's delivering oil from Canada to refineries in Illinois and Oklahoma. And no, we don't need the Keystone XL just because the Keystone is at capacity.
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