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Energy has actually been booming again in the shale plays, the technology/efficiency has been so robust that OPEC and Russia have been having a hard time competing in their usual way. There are still many wells that have been drilled but not fracked (the most expensive part).
No, US production has increased dramatically since around 2008 which is what drove the price down because of higher supply. That production has slowly tapered off because OPEC also kept production high leading to an even higher supply. OPEC blinked and now that high supply is coming down.
That debatable is but the bottom line is US energy producers will fare far better under Trump that they did under Obama.
As will natural gas since it's a by-product of the process in many cases. Obama was certainly more pragmatic than you or people realize; the worst environmental disaster in US history was caused by the O&G companies under Obama and a domestic O&G renaissance happened under Obama from upstream to downstream after 40 years.
A lot of the refining upgrades and expansions will be wrapping in a couple of years while a few more LNG export terminals come online. Whether indirectly or directly, things are set up nicely from the previous administration. Truthfully, I think Obama knew he needed that job post Great Recession once prices climbed high enough to warrant the shale boom.
Trump will certainly do better with energy because of this.
That production was in spite of Obama. For example while leases on private land were skyrocketing leases on public land were stagnant. This despite the fact they even had lower royalties.
BS. In hindsight the O&G collapse would have been much worse if all the wild catters bought everything up with a bunch of debt if public land became part of the mix. The O&G boom increased production by ~4 million barrels per day in a matter years.
What a bunch of nonsense. Obama could have greatly halted O&G production after the Deep Water Horizon disaster.
Obama could have done what some Republicans have done with renewable and cut subsidies and reduce funding for research. But instead we put ourselves at the forefront with some other big producers.
That production was in spite of Obama. For example while leases on private land were skyrocketing leases on public land were stagnant. This despite the fact they even had lower royalties.
In North Dakota, most of the oil is beneath private farmland (and an Indian reservation) anyway. Only 2.7% of North Dakota land is owned by the federal government. So the whole "it rose in spite of Obama" spiel is just another irrelevant excuse, because in North Dakota it wouldn't make a squat of difference anyway.
You go where the jobs are, but liberals prefer to dole out other people’s money to the poor.
Everyone, including liberals, believe that people need to pull themselves up by their boot straps. But you have to have boots first. Liberals make sure everyone has boots.
No, US production has increased dramatically since around 2008 which is what drove the price down because of higher supply. That production has slowly tapered off because OPEC also kept production high leading to an even higher supply. OPEC blinked and now that high supply is coming down.
That debatable is but the bottom line is US energy producers will fare far better under Trump that they did under Obama.
Let me be more direct. The fact that ND's production is higher now then in the last month of Obama's administration has everything to do with the current state of the oil supply. ND clearly reduced production in 2016 because of the large supply; they were producing at much higher levels in 2015.
That production was in spite of Obama. For example while leases on private land were skyrocketing leases on public land were stagnant. This despite the fact they even had lower royalties.
You seem to want to change the subject of this thread. There was an economic reason why ND lowered production in 2016.
As a reminder an article from the beginning of 2016.
Fast forward 40 years and the world has changed drastically, with booming U.S. oil production from the shale revolution creating an epic supply glut that recently sent oil prices below $30 a barrel.
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