The Lone Star State is earning a new moniker: Saudi Texas. Oil production in Texas is soaring, jumping to an average 2.139 million barrels a day in November — the best showing in more than 25 years. Analysts are chalking up Texas’ booming production to shale plays, especially South Texas’ Eagle Ford, where production was minuscule just five years ago, along with a revival of West Texas’ Permian Basin. Analysts are tossing around the words “phenomenal,” “amazing” and “unprecedented” when discussing the numbers. Since production began in the Eagle Ford Shale, the state’s oil output has doubled and Texas’ share
And 99% is on private or state land. The state has had to fight the federal government and it´s various regulatory agencies tooth and nail for every barrel. The battle is ongoing as we speak. If our Dear Leader has his way that production would be shut down. Oh yes, in addition to the oil the state is producing huge amounts of natural gas.
While we are recovering a decent amount of oil, our refining capacities are still too low. And we have more room on HWY 225 for another refinery or two and a good amount of room for expansion of th existing refineries. Unfortunately, the enviro-whackos in our federal EPA are preventing us from building more or expanding our current refineries.
Gasoline should be at or below $2 a gallon, right now.
The bad news is that big oil and government said it was impossible to produce oil from discovery to production in less than 10 years. The first successful production of oil from the Eagle Ford shale was late 2008. By the end of 2012, TX had doubled its oil production with virtually all the new oil coming from formations below the conventional oil fields. The problem was that collection systems haven´t been able to keep up. The other problem was that the refineries had predicted that they were going to be refining heavy sour oil. The modern coking units they added simply aren´t needed with this light sweet oil. At least when the southern half of Keystone XL is added, they will have oil from the Canadian tar sands. In the meantime the pipes have made it to the water so the oil can be loaded onto barges to ship to eastern refineries.
I think if Stinky the Gunrunner were to be honest and tell us what he think about gas and oil, he would say that the entire industry should be nationalized, that it is a resource belonging to "the people" and not to the landowners under whose foot it rests. Ugo Chavez in the White House.
Putin doesn´t fear Obama but he very much fears the production of oil and gas from shale. If the US and Canada can produce an additional 3 million barrels a day from tight oil formations and tar sands respectively, Russia will be squeezed. They will have to reduce production to keep prices up.
Gas prices are down. Gasoline prices are elevated right now. We need natural gas prices to rise a bit to spur production in that sector. These folks that ptotest oil and gas production and those that don´t live in hydrocarbon-producing states have no clue as to how this business works. If, for some reason, production were to cease the whole world would be in a world of hurt and I don´t mean a lack of fuel. Most folks have no idea of how many every-day products are produced in the oil fields.
After gassing up his vehicles for next week´s work and school the average Joe hardly has any money left for a weekend pizza or movie. Obama doesn´t care and it appears most Washington politicians don´t either.
Either President Obama needs a new speechwriter, or he needs a new set of economic policies. Actually, he needs both. Can anyone think of a more boring, banal, irrelevant, or stale speech than the one he gave this Thursday in Washington DC? The speech was allegedly on the economy, but more likely it was to divert attention from the Obamacare catastrophe. Whatever the motive, his idea that the defining challenge of our time is to reduce income inequality is completely wrong. In truth, the defining challenge is to restore more rapid economic growth, create substantially more jobs, and significantly reduce
President Obama on Thursday said that Republicans should be “embarrassed” that they have not done more on Capitol Hill, blaming them for Washington gridlock. “They´ve got to be embarrassed,” the president said in an interview on MSNBC’s "Hardball with Chris Matthews." “Because the truth of the matter is that they´ve now been in charge of the House of Representatives, one branch of, or one chamber in one branch of government, for a couple of years now and they just don´t have a lot to show for it.” Obama said that congressional Republicans were too fearful of offending their conservative base to
On Tuesday, The Boston Globe reported that Onyango “Omar” Obama, uncle to President Obama, says that his famous nephew stayed with him while a student at Harvard Law School in the 80s, in contradiction to The White House’s contention that the two had never met. At Thursday’s White House daily briefing, Press Secretary Jay Carney confirmed that the President had, in fact, briefly stayed with “his father’s half-brother,” as Carney described Omar Obama, and that no one had actually asked the President about it when the White House initially commented. The 69 year-old Omar Obama has been facing deportation back
On Thursday, in the aftermath of South African iconic leader Nelson Mandela’s death at age 95, President Obama’s White House account tweeted a tribute to Mandela – a picture of Obama in Mandela’s Robben Island prison cell, along with a quote from Obama about Mandela: (Photo/Tweet) Even in paying tribute to a historic figure, President Obama couldn’t help but make it about him.
As President Obama wrapped up his conversation with Chris Matthews at American University, he took a swipe at the partisan media for dividing the country and making compromise more difficult. Obama said being the Commander-in-Chief for so long “makes you humbler, as opposed to cockier,” and compared himself to Sisyphus, rolling the boulder up the hill for eternity with little success. He spoke of how enthusiastic young people encourage him and give him confidence, only for the media to take that enthusiasm and use it to divide people. “The American people are good and they are decent, and yes, sometimes
Chris Matthews got his long-desired wish on Thursday, an exclusive interview with Barack Obama. The Hardball anchor didn´t exactly live up to the title of his show, wondering about Republican efforts to "make it difficult for minorities to vote" and questioning who was better, Hillary Clinton or Joe Biden? Talking to the President at American University, Matthews read a question from Twitter: "What can we do to stop the GOP, the Republicans, from rigging the states, rigging the votes, state by state, to disenfranchise voters and destroy our democracy?" The host added, "Thirty six states right now led by Republican
Wednesday night, MSNBC "Hardball" host Chris Matthews announced that his interview with the president, which is scheduled for today, gave him "the Christmas Eve excitement." Outside the left-wing fever swamp of MSNBC, Matthews is perhaps most famous to the American people for his 2008 comment about how an Obama speech put a "thrill up his leg." In his latest campaign effort to rehabilitate his sinking presidency and health care law, President Obama will sit down with Matthews this afternoon in front of a group of college students. The audience is no accident. Obama desperately needs healthy Millennials to be stupid
I have never been much of a conspiracy theorist. For me it was always Oswald by himself from the Texas School Book Depository and nothing in the intervening fifty years has disabused me of this notion. For the most part, I’m an Occam’s Razor kind of guy — the most obvious explanation is likely to be true. (Snip) To put it bluntly, Occam’s Razor has moved. Things that were once possibilities now seem almost certainties to me. Principal among those is that Obama’s academic records are perpetually unavailable for a reason — and that reason is most likely that they reveal
One of President Obama´s chief political assets has been his ability to excite young people like almost no politician in history. But the days of America´s youth fawning over the president are over. A new Harvard University Institute of Politics poll released Wednesday confirms what other surveys have shown in recent months: Millennials have soured on Obama so much this year that their opinion of him largely mirrors the American public´s. Even though Obama does not ever have to face another election, he should be worried about the findings for a couple of reasons, which we will dive into momentarily.
A stunning new study unveiled on Fox News´ Hannity finds that President Barack Obama’s White House calendar records just one face-to-face meeting between Obama and his Health and Human Services (HHS) Secretary Kathleen Sebelius in the more than three-and-a-half years leading up to the disastrous Obamacare launch. The startling statistic comes from a new Government Accountability Institute (GAI) analysis of Obama’s own official White House calendar, as well as the Politico presidential calendar, and raises new questions about Obama’s executive leadership and management throughout the implementation of his singular legislative achievement. More alarming still, the president’s schedule lists 277 private
[Video] President Obama on Wednesday declared that addressing income inequality would be the focus of “all” of the White House’s efforts “for the rest of my presidency.” In a sweeping address that touched on raising the minimum wage, investing in infrastructure and ending tax breaks for the wealthy, Obama warned that the American economy has become “profoundly unequal,” declaring economic mobility the “challenge of our time.” “The combined trends of increasing inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life, and what we stand for around the globe,” he said in an hour-long
Just over two weeks ago, MSNBC host Martin Bashir delivered a harsh piece of commentary that culminated in the suggestion that someone should “s-h-i-t” in former Alaska Governor Sarah Palin‘s (R-AK) mouth. Bashir offered an abject apology on his next broadcast, but a chorus of critics continued to demand action against the host. After a reported “vacation” for the host earlier this week, Bashir announced, Wednesday afternoon, that MSNBC and Martin Bashir are parting ways. Here’s the statement from Martin Bashir, via email: After making an on-air apology, I asked for permission to take some additional time out around the Thanksgiving holiday. Upon
Amid an array of “knock-out” attacks against a number of Jews in Brooklyn’s Crown Heights neighborhood, a city councilwoman pointed to the success of the Jewish community as triggering the aggression. Councilwoman-elect Laurie Cumbo emphasized that while she “admire[s] the Jewish community immensely” for its work ethic, black teens may see it differently. “While I personally regard this level of tenacity, I also recognize that for others, the accomplishments of the Jewish community triggers feelings of resentment, and a sense that Jewish success is not also their success,” Cumbo, who was recently elected, wrote in a letter. Chief among the issues
America is facing a wave of strikes by its fast-food workers on Thursday a day after Barack Obama warned that inequality in the USA had soared to the point that it now posed "a fundamental threat to the American dream". Low-paid workers in McDonalds, Kentucky Fried Chicken and other fast-food outlets in 100 cities across America were due to start rolling strikes to protest at the low level of America´s $7.25 (£4.45) federal minimum wage. The strikes are the latest part of a mushrooming publicity campaign for higher wages among those working so-called "McJobs", with fast-food restaurants seen as a