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Oil World Turns Upside Down as U.S. Sells Oil in Middle East

The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn?t the most obvious customer for Texan oil.

Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.

https://www.bloomberg.com/news/articles/2018-02-06/u-s-oil-heads-to-middle-east-in-latest-sign-of-shale-s-spread

U.S. could become world's biggest oil producer in 2018

The United States could soon be pumping more oil than any country on earth.
The International Energy Agency said Friday that "explosive" increases in U.S. oil output would push the country ahead of Saudi Arabia this year and put it in a position to challenge top producer Russia.

"This year promises to be a record-setting one for the U.S.," the IEA said. "Relentless growth should see the U.S. hit historic highs."

http://money.cnn.com/2018/01/19/investing/us-biggest-crude-oil-producer-iea/index.html

Winning!
 
morekaos said:
Oil World Turns Upside Down as U.S. Sells Oil in Middle East

The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn?t the most obvious customer for Texan oil.

Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.

https://www.bloomberg.com/news/articles/2018-02-06/u-s-oil-heads-to-middle-east-in-latest-sign-of-shale-s-spread

U.S. could become world's biggest oil producer in 2018

The United States could soon be pumping more oil than any country on earth.
The International Energy Agency said Friday that "explosive" increases in U.S. oil output would push the country ahead of Saudi Arabia this year and put it in a position to challenge top producer Russia.

"This year promises to be a record-setting one for the U.S.," the IEA said. "Relentless growth should see the U.S. hit historic highs."

http://money.cnn.com/2018/01/19/investing/us-biggest-crude-oil-producer-iea/index.html

Winning!
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Sorry to prick your balloon, but you do realize the so called "shale revolution" happened under Obama's watch, right  (2010 onwards). 

Obv Obama had no hand in it , it was the result of American ingenuity .

I keep coming back to .. . " never mix your money w your politics" :)
 
More like Obama couldn't get in the way..

Congressional Leaders Agree to Lift 40-Year Ban on Oil Exports

Accord is a key component to deal on tax, spending legislation.

Dec. 16, 2015 10:38 a.m. ET
WASHINGTON?In a move considered unthinkable even a few months ago, congressional leaders have agreed to lift the nation?s 40-year-old ban on oil exports, a historic action that reflects political and  economic shifts driven by a boom in U.S. oil drilling.

The measure allowing oil exports is at the center of a deal that Republican leaders announced late Tuesday on spending and tax legislation. However, Democrats haven?t confirmed the agreement. the agreement hands the oil industry a long-sought victory within days of a major international climate deal that is aimed at sharply reducing emissions from oil and other fuels, a deal opposed by the industry and one that will arguably require its cooperation.

https://www.wsj.com/articles/congressional-leaders-agree-to-lift-40-year-ban-on-oil-exports-1450242995

U.S. Energy Boom Depends On Team Trump Continuing To Deregulate

With such deregulation and changes in policy, there would be an opportunity for U.S. oil and gas production to reach its full potential. There would be greater incentives for more domestic exploration and production. Some studies say that allowing U.S. crude oil exports could generate up to $15 billion in annual revenue for oil producers.

And if conducted in tandem with increased investments in infrastructure and the repeal of the Jones Act, unrestricted exports would provide a boon for domestic oil development, generating economic growth, income, jobs and revenue along the production chain.

https://www.investors.com/politics/commentary/u-s-energy-boom-depends-on-team-trump-continuing-to-deregulate/
 
You really think he wanted to encourage energy production?  Really?

The Keystone XL pipeline is dead. Here's why Obama rejected it.

https://www.vox.com/2015/11/6/9681340/obama-rejects-keystone-pipeline

Obama administration orders ND pipeline construction to stop
BY DEVIN HENRY - 09/09/16 03:52 PM EDT
120,927
 

The Obama administration said it would not authorize construction on a critical stretch of the Dakota Access pipeline, handing a significant victory to the Indian tribe fighting the project the same day the group lost a court battle.

The administration said construction would halt until it can do more environmental assessments.

http://thehill.com/policy/energy-environment/295223-obama-administration-orders-nd-pipeline-construction-to-stop

Obama Fracking Rule Is Struck Down by
Court
By CORAL DAVENPORT JUNE 22, 2016
WASHINGTON ? A federal judge on Tuesday night struck down an Obama
administration regulation on the use of hydraulic fracturing, or fracking, for oil and
gas on public lands, a blow to President Obama?s muscular stand on the extraction

https://www.nytimes.com/2016/06/23/us/politics/hydraulic-fracturing-interior-department-regulations.html
 
morekaos said:
You really think he wanted to encourage energy production?  Really?

The Keystone XL pipeline is dead. Here's why Obama rejected it.

https://www.vox.com/2015/11/6/9681340/obama-rejects-keystone-pipeline

Obama administration orders ND pipeline construction to stop
BY DEVIN HENRY - 09/09/16 03:52 PM EDT
120,927
 

The Obama administration said it would not authorize construction on a critical stretch of the Dakota Access pipeline, handing a significant victory to the Indian tribe fighting the project the same day the group lost a court battle.

The administration said construction would halt until it can do more environmental assessments.

http://thehill.com/policy/energy-environment/295223-obama-administration-orders-nd-pipeline-construction-to-stop

Obama Fracking Rule Is Struck Down by
Court
By CORAL DAVENPORT JUNE 22, 2016
WASHINGTON ? A federal judge on Tuesday night struck down an Obama
administration regulation on the use of hydraulic fracturing, or fracking, for oil and
gas on public lands, a blow to President Obama?s muscular stand on the extraction

https://www.nytimes.com/2016/06/23/us/politics/hydraulic-fracturing-interior-department-regulations.html
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Apparently oil is the only method to produce energy.
 
The wonderful and profitable bi-product is massive amounts of natural gas production.  In fact, the most productive fields on earth are right here in the good old US of A.  Controlled by us and sold by us.  That is  a winning combination for our economy.
 
morekaos said:
The wonderful and profitable bi-product is massive amounts of natural gas production.  In fact, the most productive fields on earth are right here in the good old US of A.  Controlled by us and sold by us.  That is  a winning combination for our economy.
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Of course...Keystone XL pipeline was to be use to transport Canadian tar sand oil out of Canada.
 
To our southern refineries and eventual consumption or export.  Either way it means energy based economic profits.  Obama's administration stifled that growth.
 
Again facts versus ?feelings ?

Unfortunately I am resigned to looking at hard data :) as opposed how I feel what someone wanted or not wanted

Obv I don?t like Trumps corrosive effect on our country  . At the same time , I don?t like majority of CA Dem politicians  either . but when it is a choice (relative value) I can live w the dems over the abyss that is trump and his hardcore base

Doesn?t stop me from participating in the stock market when it sells off 10 percent  , because I am not ?sulking ? but looking at objective data

Oil and gas companies have long been sheltered from taxes under every administration . And most laws governing oil production are state level laws , not federal .
 
morekaos said:
To our southern refineries and eventual consumption or export.  Either way it means energy based economic profits.  Obama's administration stifled that growth.
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Apparently green energy growth doesn't count.
 
Laws banning export of petroleum were federal.  Republicans struck down those laws in 2015 paving the way for the export boom we are now witnessing.  Production without buyers is a bit pointless.  Oil and gas has to get to those export points somehow...pipelines help a lot. Politically, philosophically and administratively Obama and the democrats discouraged dirty fossil fuel production.  Whether you agree with them or not, they felt investment in more expensive "renewable " energy was "better".  Economics win out on this one,  it is all about the numbers.
 
morekaos said:
Laws banning export of petroleum were federal.  Republicans struck down those laws in 2015 paving the way for the export boom we are now witnessing.  Production without buyers is a bit pointless.  Oil and gas has to get to those export points somehow...pipelines help a lot. Politically, philosophically and administratively Obama and the democrats discouraged dirty fossil fuel production.  Whether you agree with them or not, they felt investment in more expensive "renewable " energy was "better".  Economics win out on this one,  it is all about the numbers.
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Because investment in renewable energy is sustainable and contributes to local economies.  Oil production may only benefits a few sections of the country while green energy can be replicated and used throughout the country.  It would allow decentralization of power production and allow a stronger and more sustainable power grid. 

Why do Republicans always think 20 years behind? 
 
Nominal production and contribution. Stick with the one who brought ya.

 

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Why do you think the price of "clean, renewable" energy is so high?  Is it because its free?  It is not. We sit on so much fossil fuel energy that it will still be powering our world in "20" years.  Its not free but it is plentiful and cheap.  You really think the Chinese believe in global warming?  They control the means of production and that only produces when cheap plentiful energy is available.  Sure they signed the Paris Climate agreement because it cost them nothing and hobbled their competition (US). They went right on buying "dirty" coal, natural gas and oil from anyone who can sell it to them.  Clean energy is a nice story but it can't compete in a energy hungry world without subsidies.  When it can compete, it will but for now we control the levers of energy.  That has been politically driven,  That's a good thing.
 
morekaos said:
Why do you think the price of "clean, renewable" energy is so high?  Is it because its free?  It is not. We sit on so much fossil fuel energy that it will still be powering our world in "20" years.  Its not free but it is plentiful and cheap.  You really think the Chinese believe in global warming?  They control the means of production and that only produces when cheap plentiful energy is available.  Sure they signed the Paris Climate agreement because it cost them nothing and hobbled their competition (US). They went right on buying "dirty" coal, natural gas and oil from anyone who can sell it to them.  Clean energy is a nice story but it can't compete in a energy hungry world without subsidies.  When it can compete, it will but for now we control the levers of energy.  That has been politically driven,  That's a good thing.
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Yes...I absolutely believe that the Chinese believe in global warming.  Chinese government is a lot of stupid things but it is pragmatic.    It realizes that renewable energy allows it to 1) take the lead in renewable energy production and industries, 2) control and maintain domestic power production, and 3) be a leader in the world where renewable energy is the the future.   
http://money.cnn.com/2017/07/18/technology/china-us-clean-energy-solar-farm/index.html

Only GOP thinks in 1970s terms.
 
I'd rather wield the energy stick over them, and also trump Russian on supplying plentiful, cheap, reliable  and profitable natural gas to western Europe.  For now we control the market.  I like that.
 
morekaos said:
I'd rather wield the energy stick over them, and also trump Russian on supplying plentiful, cheap, reliable  and profitable natural gas to western Europe.  For now we control the market.  I like that.
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Keep thinking in 1970s terms.
 
No, they got it wrong back then...

What Hubbert Got Wrong About Peak Oil

Hubbert's fame in peak oil circles comes primarily from the assertion that he accurately predicted the 1970 U.S. peak. Because of this prediction, Hubbert is widely-regarded among peak oil adherents as a visionary.
 
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