Drilling in New Jersey? No Fracking Way!
New Jersey Governor Chris Christie issued a conditional veto on a measure that would have imposed a permanent ban on hydraulic fracturing — a/k/a “fracking” — in the Garden State. Instead, Christie has suggested a year-long moratorium on the practice. The debate over fracking in New Jersey is mostly symbolic. New Jersey has exactly zero oil and gas wells. It is, however, the nation’s #7 | Read More »
Exxon’s Offshore Lawsuit: The Rest of the Story
Last week, ExxonMobil filed a lawsuit against the Department of the Interior in the Western District of Louisiana. The lawsuit alleges that DOI, through the Minerals Management Service (MMS), acted improperly in cancelling three leases owned by ExxonMobil and Statoil, its 50% partner. The leases are in a field designated “Julia”, which lies in 7,000 feet of water, some 200 miles off the Louisiana coast. | Read More »
Drilling Rigs in Pennsylvania! Hide the Womenfolk!
Democratic State Rep. Michael Sturla is apparently not the sharpest knife in the drawer. Speaking of the impact of the Marcellus Shale drilling boom on Pennsylvania, Sturla said: “Also, aside from building roads so their trucks can get to drill sites and doing a little stream work to mitigate damage from their road building, exactly what are all those things the drillers are doing for | Read More »
The Food Stamp Party is Stimulating Poverty
The loss of jobs is only half of the result of the government interventionist equation. The other casualty of an economy driven by taxation, regulation, litigation, subsidization, monetary intervention, and debt is the crippling cost of living for all Americans. [Yes, I was about to say middle class, but we would be wise to eradicate that sort of socialist innuendo from our vernacular.] Earlier today, the | Read More »
Let’s Replace EPA With Employment Protection Agency
When members of Congress return to Washington in September, they must confront the next budget challenge; a Continuing Resolution for FY 2012. While the top line discretionary spending level has already been agreed upon through the debt ceiling agreement, the specific levels of funding for each department and agency are still up for debate (or closed-door negotiations, in this case). Unfortunately, instead of prudently analyzing | Read More »
Keystone XL Pipeline: Bureaucratic Hacky-Sack
The Obama Administration continues to play bureaucratic hacky-sack with what could be a key element of our nation’s secure energy future: the Keystone XL pipeline project. The new line would increase the export capacity of the Keystone Pipeline (placed in service 2008) by 700,000 barrels of Canadian oil-sands oil per day. The expansion would also facilitate the domestic movement of crude from the key storage | Read More »
Congressional Democrats Aim to Kill Energy’s Golden Goose
If “it’s all about the jobs”, why are Democrats trying to kill one of the only successful job creation engines in our economy? From Texas and Louisiana to North Dakota and Pennsylvania, energy development is creating good jobs, well-paying jobs, by the tens and even hundreds of thousands. Billions of dollars are flowing into the economies of the host states. The common thread of the | Read More »
WSJ Misses the Mark on Oil Markets and the SPR
An article by Sarah Kent in Monday’s Wall Street Journal, “Traders Eye Oil Tanker Play”, (full text requires subscription*) purports to explain current action in the oil market, as 30 million barrels of crude oil are due to be released from the Strategic Petroleum Reserve (SPR) before August 31. … While they fall short of the lefty paranoia of ThinkProgress.org and its crack “investigative journalist”, | Read More »
BOEMRE Slowdown Costs 230,000 Jobs, $44 Billion in GDP
A new study from IHS-CERA, one of the leading energy think tanks, projects the cost of the Department of the Interior’s ongoing regulatory slowdown and its impact on the energy industry, employment in the coastal states, and the U.S. economy in general. The study, released on Thursday, was commissioned by the Gulf Economic Survival Team (GEST). We’re beginning to see the true cost of an | Read More »
Dr. Steven Chu and ‘Common Sense’
Energy Secretary and Nobel Laureate Dr. Steven Chu defends the banning of conventional incandescent light bulbs as a ‘common-sense’ measure that is certainly a ‘win-win’ for consumers. (Caution: Clicking HuffPo links may cause a loss of IQ points.) Overall, consumers will save $6 billion a year from these standards. Here’s another example of how common-sense standards like these have been working for American families for | Read More »
Lee Fang on Oil Speculation: In Over His Head
Summertime 2011, and “investigative journalist” Lee Fang of ThinkProgress has replaced the BP Spill in my blogging life. Fang’s amateurish attempts to find scandal in oil commodities trading have become my new blog fodder. Fang puts forward the half-baked theory that the evil Koch Brothers and other traders control world oil prices via speculation. His latest piece, “JP Morgan, Koch, Other Oil Traders May Buy | Read More »
Nothing Evinces Hypocrisy More than Obama’s Oil Policy
President Obama has asserted ad nauseam that expanding oil drilling would not affect the price of oil and generate price relief at the gas pump. He has scoffed at the ‘drill, baby, drill’ plan, denouncing it as insufficient in dealing with our “long-term” energy needs. Now that his reelection prospects are beginning to wither, Obama is undergoing a foxhole conversion and easing his aversion to that “addictive” | Read More »
Why Did Obama Open the Strategic Petroleum Reserve?
On Thursday, the Department of Energy announced a release of thirty million barrels of crude oil over the next 60 days from the Strategic Petroleum Reserve, the nation’s stockpile supposedly set aside for emergency supply disruptions. Washington, DC – U.S. Energy Secretary Steven Chu announced today that the U.S. and its partners in the International Energy Agency have decided to release a total of 60 | Read More »
Some GOP Candidates Have Uninformed Beliefs on the Environment and Energy.
We hear recently from GOP Candidate Mitt Romney. He tells us the following: I’m told that we use almost twice as much energy per person as does a European, and more like three times as much as does a Japanese citizen. We could do a lot better. I’d like to see our vehicles, and our homes, and our systems of insulation and so forth become | Read More »