Bipartisan Energy Bust. ‘A Bad Signal’: Fracking Opponents Have Policy Indicators in Their Corner. As fracking opponents descend upon Capitol Hill this weekend demanding an end to the shale drilling technique, they won’t have a White House contingent there to pledge solidarity with the environmentalist crowd.
But a unilateral policy move this past spring, quickly dialed back after outcry from lawmakers and property owners, indicates that the silent support from the administration may be stronger than anti-frackers believe. In March, the U.S. Department of Agriculture pursued, then quickly backtracked on, a plan to require extensive environmental reviews on property with oil and gas drilling leases before issuing mortgages. Tens of thousands of rural and low-income families rely on the loans, which reached $18 billion last year, and 15,000 rural businesses were aided by more than $1 billion in Rural Business and Cooperative funds. “By this one state starting to do this on their own, that was a bad signal,” Rep. “Oklahoma, we’ve been producing oil and gas for decades. The Energy Revolution and Its Discontents. With all the gloomy economic news coming out of late, one bright spot flew under the radar last week: the United States is poised to be the proverbial center of the energy universe.
A recent study by Harvard Research Fellow Leonardo Maugeri found that the United States’ incredible shale reserves represent “the most important revolution in the oil sector in decades.” Thanks to the technological revolution brought about by the combined use of horizontal drilling and hydraulic fracturing, the U.S. is now exploiting its huge and virtually untouched shale and tight oil fields, whose production – although still in its infancy – is already skyrocketing in North Dakota and Texas.
Few Americans are more cognizant of this energy revolution’s possibilities than those who live in the towns sitting above the nation’s largest shale formations. But there are forces looking to undermine North Dakota’s oil boom. Koeser’s concerns are not without merit. Quick Hits: Report: Obama Blaming Israel for Fuel Prices - Global Agenda. 194.
Obama's to blame, not Israel Obama will not issue permits to oil companies that want to drill for oil here in the U.S.A. Obama did not want an oil pipeline from Canada to come through the U.S. either. Obama only wants to create a hatred for Israel and the Jews by fabricating this falsehood. A lot of Americans see through this phoney; sadly, not enough do. ReBecca, Los Angeles, CA (9/4/12) Reply to comment Delete Report comment 1 193. Congress: Drill Here, Drill Now! $2.50 per Gallon Gasoline, Energy Independence and Jobs. Gas Prices: 5 Half-Truths About Rising Gasoline Prices.
FYI: Heritage WebMemos are now called Issue Briefs.
The national average for gas prices is almost $3.60 per gallon, increasing 40 cents from a year ago and jumping 20 cents from just one month ago.[1] Prices are already surpassing $4 per gallon in some states and could threaten the country’s economic recovery. Higher gas prices drive up production costs for goods reliant on transportation, and more money spent at the pump means less money spent at restaurants and movie theaters. Buying fewer goods and services tightens the economic vice and holds back job creation. Almost 70 percent of the price of gasoline comes from the price of crude oil, with excise taxes, refining costs, and retail/distribution making up the other 30 percent.[2] Exporting refined petroleum products comprises a small percentage of total domestic gas production and marginally impacts prices.
Half-truth #1: Oil production is the highest it has been in eight years. Half-truth #3: Oil is not enough. Newt's Energy Plan. 200 Year Supply Of Oil In Green River Formation. The Green River Formation, the world’s largest oil shale deposit, is located in a largely vacant region of mostly federal land on the western edge of the Rocky Mountains that includes portions of Wyoming, Utah, and Colorado (see map above).
GOA: Recoverable Oil In Green River Formation Equal to Entire World’s Oil Reserves - Domestic Oil Drilling. Rock Springs, Wyo.
(BLM Photo) (CNSNews.com) - The Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together, contains about as much recoverable oil as all the rest the world’s proven reserves combined, an auditor from the Government Accountability Office told Congress on Thursday. The GAO testimony said that the federal government was in “a unique position to influence the development of oil shale” because the Green River deposits were mostly beneath federal land. If the player does not load, please check that you are running the latest version of Adobe Flash Player. It also noted that developing the oil would have an environmental impact and pose “socioeconomic challenges,” that included bringing “a sizable influx of workers who along with their families put additional stress on local infrastructure” and “making planning for growth difficult for local governments.”