‘We have more oil and natural gas than anyone thought possible even 5 years ago.’
The domestic oil and gas supply picture is better than it’s been in a generation, and it’s getting better every day. That’s not just my opinion; it’s also the conclusion of Adam Sieminski, chief administrator of the Department of Energy’s Energy Information Administration (EIA), the government’s one-stop shop for all statistics related to our nation’s energy production and consumption. Sieminski was interviewed by Platt’s Energy | Read More »
NYTimes OpEd: ‘Is the Oil Boom a Mirage?’ Ummmmm. No.
In a New York Times OpEd (Sept. 4, 2012), Old Dominion political science professor Steve Yetiv poses the question: : “Is the Energy Boom a Mirage?”
Short answer: “Not just No, but Hell, No!”
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Cue the Fat Lady
During my company’s eight-year run as an operator in the Gulf of Mexico, we found and produced about one day’s worth of U.S. natural gas consumption and a few hours worth of oil production. That may not sound like much, but the economic activity of independent oil and gas companies sustains much of the Gulf Coast region and provides thousands of jobs. All that is | Read More »
Tags: BP Spill
, Carol Browner
, Deepwater Horizon
, Heather Zichal
, ken salazar
, Michael Bromwich
False Sense of (Energy) Security
Superficially, it would seem that the nation is successfully pursuing the Obama Administration’s stated energy goals of “increasing domestic oil production” and “reducing our dependence on foreign oil.” Domestic oil production has increased, but in spite of and not because of Administration policies. And while our overall oil import demand has declined, our imports from the Persian Gulf states, and Saudi Arabia in particular, have | Read More »
Does Drilling in ANWR Make More Sense than the Alaskan Offshore?
At this writing, Shell Oil is awaiting final permits from the Department of the Interior and EPA for drill two of five wells in the Arctic Ocean offshore Alaska that were originally planned for 2012. Later than normal breakup of pack ice also caused Shell some delays. According to Human Events: The company is now counting on operations beginning in early August, which gives them | Read More »
U.N.’s Carbon Credits Create Perverse Incentives
It seems harmless enough when an airline offers their customers “green indulgences” in the form of carbon credits when buying a ticket. The credits are intended to resolve the guilt the customer is supposed to feel for his wanton use of fossil fuels. In practice, the credits have become a perverse incentive for practices that are exactly opposite what the U.N. intended when it created | Read More »
Tags: Carbon Credits
, Carbon Trading
, Kyoto Protocols
2008 Obama Voter Interviews Her 2012 Self
A parody video that answers the question “How’s all that hopey-changey stuff workin’ out for ya?” A CO-PRODUCTION OF: http://www.republicanpartyanimals.org and http://houseofsunny.tv Nice work. Open thread.
Rep. Ed Markey (D-MA): Captain Ahab or Doctor Evil?
Rep. Ed Markey of Massachusetts, ranking member of the House Natural Resources Committee, has a major obsession. Markey’s Great White Whale is called the Deepwater Royalty Relief Act of 1995 (details below the fold). In Markey’s mind, several deepwater Gulf of Mexico operators have gotten over on the government to the tune of several billion dollars in oil and gas royalties. The operators counter that | Read More »
Obama to Super Bowl Champs: ‘You Didn’t Build That’
No, of course he didn’t say that. But what if he had? And why is it any less appropriate to tell a sports hero that than a small business owner? Imagine for a moment an alternate universe where the President talked smack to the Giants … “..Look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own.” | Read More »
Deconstructing the American Dream
I sat down this morning to write about teachers and bridges, about motivation and inspiration. Upon rereading the President’s Roanoke remarks, however, my focus shifted away from my planned topic of entrepreneurial outrage (“You didn’t build that!”). Reading deeper, a more alarming theme emerged: Now, we don’t need more top-down economics. I’ve got a different view. I believe that the way you grow the economy | Read More »
I Do Not Like It, Uncle Sam! I Do Not Like Your Clean Green Scam!
Will government ever learn? Every time they try to fool the market with some cockamamie attempt at central planning, they create a discontinuity in the market. These discontinuities can often be exploited for gain. That’s when the jackals rush in. The EPA runs a program that is supposed to ensure 36 billion gallons of biofuels are blended into the gasoline supply by 2022. Every gallon | Read More »
Don’t be silly. Mitt Romney’s not a superhero (not mine, anyway). But when it comes to the economy, the presumptive Republican nominee is the Man of Steel compared to the Democratic incumbent. So far, the Obama Administration has been a 3-1/2 year experiment to reconfirm that Keynesian Economics is deserving of history’s dustbin. To the weavers of a narrative, invulnerability is a real problem. Ask | Read More »
A Recipe for the Pursuit of Happiness
Arthur C. Brooks of the American Enterprise Institute penned a July 7 New York Times op-ed, “Why Conservatives Are Happier Than Liberals”. Many conservatives favor an explanation focusing on lifestyle differences, such as marriage and faith. They note that most conservatives are married; most liberals are not. (The percentages are 53 percent to 33 percent, according to my calculations using data from the 2004 General | Read More »
Natural Gas Economics: A Look Under the Hood
Christmas comes in June for energy geeks and graph junkies. Every year, the Energy Information Administration of the Department of Energy releases its Annual Energy Outlook (AEO), a compendium of 30-tear forecasts and analyses of energy sources and uses. The 212 page .pdf file contains tables, bar charts and area graphs galore, enough to provide blog fodder at least until Christmas (the December one). This | Read More »
Trans Alaska Pipeline System: Happy 35th Birthday!
An editorial from Sen. Lisa Murkowski (R-AK) expounds upon the economic and strategic importance of the Trans-Alaska Pipeline System (TAPS) on the occasion of its 35th anniversary: 35th anniversary of TAPS, June 20, 2012 Since oil first flowed down the 800-mile pipeline on June 20, 1977, TAPS has delivered more than 16.6 billion barrels of oil. For Alaskans, that translates into more than $171 billion | Read More »