Obama’s oil free utopia is precipitating yet more mayhem on our economy. Today, two major news stories concerning our lack of oil production highlight just how profoundly oil affects our economy. The first story concerns the Trans Alaska Pipeline. The pipeline employs 2,000 workers and delivers 11% of our domestically produced oil to the other states. During its early years, when we weren’t impounding the | Read More »
Your President has been telling you things that simply aren’t true. Things like “We can’t drill our way out of our energy problems.” Or “Oil and gas are the fuels of the past.” Or, perhaps worst of all, “The U.S. consumes 25% of the world’s oil, but controls only 2% of the world’s reserves.” Well, that last one may be technically true, but it is | Read More »
This week, the Senate is set to consider the repeal of certain provisions of the tax code as they relate to the oil and gas industry. By styling these tax breaks as “subsidies”, the Administration and other opponents of the industry wrongly equate them with the benefits enjoyed by ethanol, wind and solar energy. But the tax credits for alternative energy production are true subsidies, | Read More »
There was an undeniable uptick in U.S. oil production in 2009 and 2010. But new DNC chair Rep. Debbie Wasserman Schultz (D-FL) tried to take credit for it: Like I said, domestic oil production is at its highest point in recent years. So we’ve actually really concentrated on that. Democrats patting themselves on the back for oil production increases? Ba. Lo. Ney. With all due | Read More »
The Republican Study Committee has struck again. While Republican House leaders are tepidly tiptoeing around energy policy with an incremental approach, RSC Energy Task Force Chairman Bob Latta (R-OH) is pushing a comprehensive energy production bill. The Consumer Relief for Pain at the Pump Act, H.R. 1777, would open up thousands of acres worth of drilling fields, extirpate onerous regulations from the backs of our | Read More »
Everybody is asking that question these days. The average nationwide price for all grades this week is $3.96/gallon; Californians are paying on average $4.26, the highest in the nation. Why does it cost so much, especially considering that the price was below $2.00/gallon just within the last couple of years? Nearly seventy percent of the price of a gallon of retail gasoline is the price | Read More »
From Vladimir’s diary, dated December 18, 2009: Remember $4.00 per Gallon Gasoline? Just Wait. Well, here we are, less than 18 months later. A little context: Gasoline prices (national average, all grades) peaked over $4.00 per gallon for a couple of months in the summer of 2008. Prices bottomed in December 2008 at $1.66. By December 2009, at the time of the writing of the | Read More »
Like many Ohioans, I experienced sticker shock today when I filled up at our neighborhood gas station outside Cincinnati. Regular unleaded was $3.79 a gallon. Some Ohioans are already seeing gas prices over four dollars per gallon, and higher prices may be on the horizon. This makes it more expensive to commute, drive to the store or take a vacation. Because oil fuels every | Read More »
As the graph below shows, the price of gas is languishing just above $4.00 per thousand cubic feet. I’m selling gas at 2/3 the price it was back in 2005, and about a third of its peak price in 2008! Somebody must be cheating me out of my gas, and it’s about time Obama looked into it! Huh? What’s that? You don’t think that’s the | Read More »
On April 20, 2010, an explosion and fire on the Transocean drilling rig Deepwater Horizon caused the deaths of 11 rig workers. The subsequent blowout flowed uncontrolled to the Gulf of Mexico, ultimately spilling an estimated 5 million barrels of crude oil over the next 100 days. The regulatory aftermath continues to this day. “Vladimir” wrote dozens of diaries at RedState on the engineering, environmental, | Read More »
A picture is worth 1,000 words. Or 95 quadrillion BTUs, which is how much energy from all sources the U.S. consumed in 2009. A well-constructed graph can convey so much information. I posted a link to this image on RedHot the other night, but thought it was worth bringing out a few observations. Since energy flow is represented by the width of the various lines, | Read More »
Oil and natural gas are our primary transportation fuels, supplying 97% of the energy (27 quadrillion BTUs!) that we use annually to move our cars, trucks, buses, boats, planes and trains. The 3% that comes from renewables is ethanol. (Source.) Beware the man who tells you he’s ever going to reduce our oil imports by growing wind and solar energy. Wind and solar are used | Read More »
In his Wednesday address at Georgetown University, President Obama took another stab at elucidating his muddled energy policy: It was just three years ago that gas prices topped $4 a gallon. I remember because I was in the middle of a presidential campaign. Working folks certainly remember because it hit a lot of people pretty hard. And because we were at the height of political | Read More »
In his speech at Georgetown University this week, President Obama acknowledged the alarming increases in prices at the gas pump, which in many states are approaching $4 per gallon. The president restated some vague platitudes about the need to reduce our dependence on foreign oil, but offered no concrete plans to rein in those prices, which are putting a strain on family budgets across the | Read More »
As the Democrats continue to bankrupt the nation with crushing debt, and stymie Republican attempts to balance the budget, we were beginning to wonder if they had their own plan to achieve budget solvency. The New York Times just revealed their monumental plan for the future of our fiscal stability. Drum roll……Labeling Republicans and tea partiers as extremists! “Moments before a conference call with reporters | Read More »
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