“Whether it’s Colorado or New York, there’s no shortage of fracking hysteria in the news. Thanks in part to liberal filmmaker Josh Fox and his legion of anti-fracking followers, the issue is among the most contentious debates in America. Now there’s growing concern that federal bureaucrats at the Environmental Protection Agency will step in to shut down successful projects that have brought economic prosperity to communities in North Dakota, Ohio and Pennsylvania.
Fortunately, after years of going unchallenged, the anti-fracking crowd is facing some tough questions. Science, it seems, is increasingly proving their myths about drilling to be wrong. Even the Associated Press — not exactly a bastion of conservative thought — declared three of their most-alarming assertions about hydraulic fracturing as false or misleading:”
“The Obama administration’s loathsome cowboy, Interior Secretary Ken Salazar, won’t take no for an answer. He’s been smacked down repeatedly by federal courts for imposing a draconian, junk science-based moratorium on the oil and gas industry. Yet, the job-killing zealot and his boss just introduced another ruinous offshore drilling ban two weeks ago.
The White House rationale for the renewed crackdown? Because we said so.”
Remember this when next Obama speaks of his oil “expansion.”
“With the Emirates’ new pipeline, oil from fields deep in the Abu Dhabi desert would travel 236 miles (380 kilometers) overland and across the barren Hajar mountains to this fast-growing port on edge of the Indian Ocean.
At the moment, Emirati oil exports are loaded in the Gulf and must pass through Hormuz. Once it’s running at full volume, the pipeline will let the UAE get two-thirds of its peak oil production to market even if the strait is shut. That’s about 10 percent of the total 17 million barrels of oil a day that currently goes through Hormuz.”
What will the Obama administration do to block this effort?
h/t Vito Boscaino via Facebook.
“First, oil reserves are finite. This is incontrovertible. But even so, no one knows how finite they are. And since we don’t know the total amount of oil resources existing underground, it’s impossible to calculate the curve of future supply.
For these reasons, I dare to make a prediction. By 2030, more than 50% of the known oil will be recoverable. At the same time, the amount of known oil will have significantly grown by then, and a larger portion of unconventional oils will be commonly produced, bringing the total amount of recoverable oil reserves to something between 4.5-5 trillion barrels. What’s more, a significant part of “new” reserves will come from the ability to better exploit what we already have.
By 2030 we will have consumed another 650-700 billion of our reserves. Added to the oil burned so far, this implies a reduction of around 1.6 trillion barrels from the 4.5-5 trillion figure. Yet, if my estimates are correct, we will have plenty of oil for the 21st century.”
“If we were able as producers and consumers to average $100 I think the world economy would be in better shape.”
Ali Naimi, Saudi oil minister.