The party of drill baby drill beat the party of no fracking, no pipelines, no new exploration.
Our capacity will cause major problems for Russia. Trump consistently championed a robust drilling policy yet we are to believe that Russia wanted him over the environmentalist, shut down energy production party.
But wait.......Trump criticized NATO.
WHY OPEC IS FINISHED—AND RUSSIA TOO
Tracy Alloway (@TracyAlloway) of Bloomberg News points us to this chart from a recent Goldman Sachs presentation on oil production costs, which is being called the “OPEC’s Nightmare” chart, as it shows how the falling production costs of domestic shale oil production costs mean our oil industry is capable of plenty of short-cycle production that will blunt any attempt by the cartel to boost prices by playing with supply:
Click to embiggen.
The Senate confirmation of former Texas governor Rick Perry as secretary of energy, coupled with the earlier appointment of Exxon Mobil’s former CEO, Rex Tillerson, as secretary of state, comes at a time when the United States has emerged as an energy superpower: a leading global producer of oil and gas. President Donald Trump’s administration now has the ability to harness the country’s energy prowess for domestic economic benefits and achieve meaningful foreign policy gains for the country. . . Tillerson’s experience with the global energy markets should be a considerable asset in effecting exactly these goals. . .
If the Trump administration and the two Texans, Tillerson and Perry, play the energy card right, then the United States can reduce the vulnerabilities of its European allies, co-opt its rivals like China and rein in its adversaries like Russia—all while benefiting its own producers.
Looks like it’s going right according to plan; U.S. oil exports are surging since Trump won the election:
http://www.powerlineblog.com/archives/2017/03/why-opec-is-finished-and-russia-too.php
Our capacity will cause major problems for Russia. Trump consistently championed a robust drilling policy yet we are to believe that Russia wanted him over the environmentalist, shut down energy production party.
But wait.......Trump criticized NATO.
WHY OPEC IS FINISHED—AND RUSSIA TOO
Tracy Alloway (@TracyAlloway) of Bloomberg News points us to this chart from a recent Goldman Sachs presentation on oil production costs, which is being called the “OPEC’s Nightmare” chart, as it shows how the falling production costs of domestic shale oil production costs mean our oil industry is capable of plenty of short-cycle production that will blunt any attempt by the cartel to boost prices by playing with supply:
Click to embiggen.
The Senate confirmation of former Texas governor Rick Perry as secretary of energy, coupled with the earlier appointment of Exxon Mobil’s former CEO, Rex Tillerson, as secretary of state, comes at a time when the United States has emerged as an energy superpower: a leading global producer of oil and gas. President Donald Trump’s administration now has the ability to harness the country’s energy prowess for domestic economic benefits and achieve meaningful foreign policy gains for the country. . . Tillerson’s experience with the global energy markets should be a considerable asset in effecting exactly these goals. . .
If the Trump administration and the two Texans, Tillerson and Perry, play the energy card right, then the United States can reduce the vulnerabilities of its European allies, co-opt its rivals like China and rein in its adversaries like Russia—all while benefiting its own producers.
Looks like it’s going right according to plan; U.S. oil exports are surging since Trump won the election:
http://www.powerlineblog.com/archives/2017/03/why-opec-is-finished-and-russia-too.php
