By Ronald Stein California is home to the largest crude oil reserves in America, but the States’ choice to not drill for that oil requires in-state manufacturers to “export” billions of dollars annually to oil rich foreign countries to import their oil to meet the state’s energy demands.
The USA is now a net exporter of crude oil, with crude oil exports exceeding imports. This oil boom is beneficial to 49 states, but not to California.
If they can’t stop energy development, they block pipeline transport (and get unexpected help).
"As the threat of American energy continues to grow, so does the Kremlin’s incentive to influence energy operations in Europe and the United States."
According to a survey published last month in the United Kingdom, climate change risks will force a lower valuation of oil company stock prices within the next five years. But despite many predictions of demise over the last 50 years, global consumption of hydrocarbon energy continues to grow.
CFACT Senior Policy Advisor Paul Driessen warns that the impending lawsuits against oil and gas companies -- created by corrupt city governments as a last-gasp hope for escaping bankruptcy -- pose grave danger for the U.S. economy should these cities succeed. Yet, says Driessen, the very premises of these suits suggests they should be thrown out of court.
As CFACT Senior Policy Analyst Paul Driessen explains, federal revenues from offshore drilling fell from $18 billion in 2008 to just $2.5 billion in 2016 thanks largely to Obama era policies while state revenues from closer-in rigs went up. The Trump-Zinke proposal would open federal waters (outside the 3-mile limit) to drilling, with huge potential revenues and contributions to national security. The planning and evaluation process, Driessen argues, should not be impeded.
CFACT Senior Policy Analyst Paul Driessen pulls no punches, calling today's ethanol and biofuels mandates and subsidies a fascistic scheme that harms both the economy and the environment and does nothing to conserve domestic energy while doing a lot to stifle economic growth. He urges the swift repeal of ethanol and biofuels mandates.
CFACT Senior Policy Analyst Paul Driessen extols the benefits of the opening some 2,000 acres of the huge Arctic National Wildlife Reserve to exploration and drilling for oil and gas. The potential for the region is at least 15 billion gallons of oil a year - more than enough to keep the Trans-Alaska Pipeline up and running for a long time to come.
CFACT Senior Policy Analyst Paul Driessen laments the long, arduous battle to open the Keystone XL pipeline -- an action that would eliminate the need for 1,225 railroad tanker cars per day (450,000 per year) or 3,500 semi-trailer tanker trucks daily (1,275,000 annually) that currently transport oil to refineries, saving lives and costs and creating jobs in rural America. Driessen also recounts the many ways that fossil fuels enrich humanity -- from feed stocks for paints, plastics, pharmaceuticals, and other products to powering the manufacturing centers that create computers, smart phones, healthcare technologies, vehicles, and batteries.
CFACT Senior Policy Advisor Paul Driessen wishes the entire world a happy time of thanksgiving -- for the fossil fuels, hydroelectric power, and other contributions to reliable, affordable energy that has powered a dramatic shift in life expectancy and standards of living and world health, lifting billions out of poverty. He further challenges us to extend these blessings to the billions who even today lack the blessings of energy, in part because of elitist, eco-imperialist refusal to underwrite the financing of anything but renewable energy that is unreliable, expensive, and only in some cases the best (short-term) option.
In an article published in The Hill, CFACT Senior Policy Advisor Paul Driessen reports that the 3-2 vote by the Nebraska Public Service Commission to approve a new route through the state for the long-delayed Keystone Pipeline may or may not signal completion of the pipeline is near. Read the excerpt here, and the full article in The Hill.
CFACT Senior Policy Advisor Paul Driessen lauds President Trump and his administration for rolling back Obama era restrictions on fossil fuels that had already hurt the U.S. economy -- the rollbacks should unleash massive economic growth and create lots of jobs.
West Virginia University professor James E. Smith and graduate student Alex Hatch report that the United States economy has begun to grow steadily despite falling oil consumption. Moreover, worldwide energy demand dropped significantly between 2013 and 2015 and the trend is continuing despite growing world populations and expanding energy availability. They note that , worldwide (not just in today's rich countries), the only thing limiting our future progress and comity is our imagination and ingenuity.
The Heartland Institute is gathering the country’s best energy policy experts, as well as key players in the industry, at the J.W. Marriott Hotel in Houston, Texas on Thursday, November 9, 2017, for its America First Energy Conference. It’s an event that will explain what has happened, and more importantly, what comes next.