Report: The U.S. is about to become a “titan of unprecedented proportions” in the oil market

posted at 8:41 pm on June 17, 2014 by Erika Johnsen

And a darn good thing it is, too. The International Energy Agency’s researchers have in previous reports noted that they were counting on an acceleration in oil production from Iraq as a pretty clutch factor in the global formula that determines oil prices; Iraq’s major energy hubs don’t seem to be in any immediate danger, but sans that hoped-for output acceleration or even just with stagnant output, growing global demand could start sending prices upward in a big way — and Iraq is hardly the only traditional supplier struggling with political instability and investment problems.

It’s encouraging news, then, that the United States is on track to become the world’ biggest oil exporter by 2020 — and even better, that other countries with potential shale deposits are now moving more quickly than expected on adopting the hydraulic fracturing and horizontal drilling techniques that have helped us get there.

In its most recent analysis, which takes a five-year view of the oil market, the IEA predicted that tight oil production from outside the U.S. could account for 650,000 barrels a day of global oil supply by 2019.

Although that is just a fraction of the 5 million barrels a day the U.S. is expected to produce from its shale oil fields by 2019, it highlights the continuing impact techniques like fracking are likely to have in helping increase global oil supply even toward the end of the decade when the IEA expects U.S. oil production growth to plateau.

Indeed, by some estimates, the U.S. contains no more than 15% of the world’s total shale and light tight oil resources, but the impact of their development on the oil market is already profound. By the end of the decade the IEA expects North America to produce 20% of the world’s oil supply and to have become a “titan of unprecedented proportions” in oil product markets as its exports of refined products soar.

Other countries might not have the resources or the geology (not to mention the relative regulatory and investment freedom, because of their own self-imposed folly) to replicate our shale boom, but it’s pretty amazing to remember that just a few years ago, nobody was expecting this miraculous turnaround — and that it’s happened largely outside of the Obama administration’s purview.


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I hope so. I’m paying $4 a gallon for gas.

LashRambo on June 17, 2014 at 8:44 PM

Until the marxists in the White House shut it down. I’m sure they are sitting up nights trying to think of a reason.

crankyoldlady on June 17, 2014 at 8:44 PM

We have to stop this, otherwise millions of people might find themselves enslaved by a job.

Marxism is for dummies on June 17, 2014 at 8:47 PM

Buy ALL energy futures – I think an upturn is happening – MONEY !!!

jake-the-goose on June 17, 2014 at 8:47 PM

Not if the Choom Gang has anything to say about it.

What will they do with all those slaves they imported from Mexico?

formwiz on June 17, 2014 at 8:50 PM

This happened regardless of O which is a miracle in itself.

sorrowen on June 17, 2014 at 8:52 PM

And were not even talking about tapping into the Green River Basin Oil Shale, which holds somewhere north of 2 TRILLION barrels of oil.

oscarwilde on June 17, 2014 at 8:53 PM

Uh oh. When Bambi reads about this tomorrow he’s gonna be pissed!

JusDreamin on June 17, 2014 at 8:53 PM

There is a fly that spreads the plague and deposits its infected eggs in the eyes of newborn children, sadly this fly breeds at several proposed fracking sites therefore we must stop all fracking to protect this valuable species.

Bishop on June 17, 2014 at 8:54 PM

Well at least we are getting off that Middle East genocide oil…

sorrowen on June 17, 2014 at 8:55 PM

Ponzi.

Federal energy authorities have slashed by 96% the estimated amount of recoverable oil buried in California’s vast Monterey Shale deposits, deflating its potential as a national “black gold mine” of petroleum.

Just 600 million barrels of oil can be extracted with existing technology, far below the 13.7 billion barrels once thought recoverable from the jumbled layers of subterranean rock spread across much of Central California, the U.S. Energy Information Administration said.

The new estimate, expected to be released publicly next month, is a blow to the nation’s oil future and to projections that an oil boom would bring as many as 2.8 million new jobs to California and boost tax revenue by $24.6 billion annually.

The Monterey Shale formation contains about two-thirds of the nation’s shale oil reserves. It had been seen as an enormous bonanza, reducing the nation’s need for foreign oil imports through the use of the latest in extraction techniques, including acid treatments, horizontal drilling and fracking.

The energy agency said the earlier estimate of recoverable oil, issued in 2011 by an independent firm under contract with the government, broadly assumed that deposits in the Monterey Shale formation were as easily recoverable as those found in shale formations elsewhere.

The estimate touched off a speculation boom among oil companies. The new findings seem certain to dampen that enthusiasm.

http://www.latimes.com/business/la-fi-oil-20140521-story.html

vlad martel on June 17, 2014 at 8:56 PM

Great! But do you know who is really crying now? It all those effete elite scare mongering global warmists that despite temperatures flatlining for nearly two decades, and their climate models turning out to be complete failures, and evidence mounting that CO2 has no impact on temperature, despite all that the Chicken Littles cry because they, like Obama’s “Science” Czar John Holdren, have pined since the ’60s (way before the global warming scare) for the “de-development of the United States.” A prosperous US that is not dependent on Muslim oil, that’s their worse nightmare.

“A massive campaign must be launched to de-develop the United States… [we] must design a stable, low-consumption economy.” -John Holdren (1973), Obama’s Science Czar
“We have wished, we ecofreaks, for a disaster… to bomb us into the stone age, where we might live like Indians, with our localism, our appropriate technology, our gardens, our homemade religion, guilt free at last.” -Stewart Brand, Whole Earth Catalogue
“We’ve got to ride the global warming issue. Even if the theory of global warming is wrong, we will be doing the right thing.” -leftist Senator Tim Wirth, 1993
“It doesn’t matter what is true, it only matters what people believe is true.” -Paul Watson, Greenpeace
“We have to offer up scary scenarios… each of us has to decide the right balance between being effective and being honest.” -Stephen Schneider, lead ipcc author, 1989
“Unless we announce disasters no one will listen.” -Sir John Houghton, first ipcc chair
“Only sensational exaggeration makes the kind of story that will get politicians’ attention… this is the only way to assure any political action and [get] more federal financing.” -Monika Kopacz, Atmospheric Scientist
“The only way to get our society to truly change is to frighten people with the possibility of a catastrophe.” -Daniel Botkin, ex Chair of Environmental Studies, UCSB
“A global climate treaty must be implemented even if there is no scientific evidence to back the greenhouse effect.” -Richard Benedik, U.N. / U.S. Bureaucrat
“Our insatiable drive to rummage deep beneath the surface of the earth is a willful expansion of our dysfunctional civilization.” -Al Gore

anotherJoe on June 17, 2014 at 8:56 PM

The U.S. is about to become a “titan of unprecedented proportions” in the oil market

Don’t blame the president for this piece of good news. Oil extraction, leases, acres and permits on federal land are ALL DOWN. He’s trying his best, folks, but sometimes the American people and their ingenuity get in the way.

xNavigator on June 17, 2014 at 8:57 PM

xNavigator on June 17, 2014 at 8:57 PM Private land has it’s advantages…

sorrowen on June 17, 2014 at 9:00 PM

When you go, Erika, we need someone else to keep covering the energy beat.

22044 on June 17, 2014 at 9:00 PM

open all federal lands (hell have the states TAKE them back) for energy, let our workers work it and allow refiners to build as needed for the type of product coming out of the ground.
remove all the epa regs tht stifle energy extraction, let the power of the american people shine.

dmacleo on June 17, 2014 at 9:00 PM

So why is gas so damn high? Do we need to build refineries or what?

HotAirian on June 17, 2014 at 9:01 PM

anotherJoe on June 17, 2014 at 8:56 PM

you catch this?
http://wattsupwiththat.com/2014/06/16/another-example-of-team-science-suppression/

Next we looked at the carbon dioxide content. The CO2 data was quite sparse, and certainly not enough for a final year student to conduct any form of correlation with the temperature, which followed each other. On researching this correlation, we were surprised to learn that the change in CO2 lags the change in temperature by between 200 and 1000 years.

this is recent validation of what others have been saying

dmacleo on June 17, 2014 at 9:02 PM

“Our insatiable drive to rummage deep beneath the surface of the earth is a willful expansion of our dysfunctional civilization.” -Al Gore

anotherJoe on June 17, 2014 at 8:56 PM

We’re becoming Mole People! Nooooo!

slickwillie2001 on June 17, 2014 at 9:03 PM

Buy ALL energy futures – I think an upturn is happening – MONEY !!!

jake-the-goose on June 17, 2014 at 8:47 PM

You mean a new Ponzi scheme.

vlad martel on June 17, 2014 at 9:03 PM

Iraq’s major energy hubs don’t seem to be in any immediate danger …

Totally misses the point. You have to know: What the ABOT is. Where Al Faw is. How many impact craters from the Iran/Iraq war are left in that area … which leads to … Why Iran is so eager to ‘help’ Iraq.

And the ABOT is the oil terminus in the Persian Gulf offshore from Al Faw. That’s where the tankers load.

M240H on June 17, 2014 at 9:03 PM

Exporting oil is such a win. It brings in money, grows the economy, creates high paying jobs, and hurts the one-trick-pony economies of a bunch of totalitarian enemy states.

Obama’s on it. This will not stand!

xNavigator on June 17, 2014 at 9:06 PM

That picture is kickass:)

thebrokenrattle on June 17, 2014 at 9:09 PM

Don’t blame the president for this piece of good news. Oil extraction, leases, acres and permits on federal land are ALL DOWN. He’s trying his best, folks, but sometimes the American people and their ingenuity get in the way.

xNavigator on June 17, 2014 at 8:57 PM

He…didn’t build that

22044 on June 17, 2014 at 9:12 PM

More bad news for Mother Earth…

Read a damn science book wingers…..

BigWyo on June 17, 2014 at 9:12 PM

The Canadian government approved a pipeline to the west coast of BC so they can sell oil to China.
http://www.sunnewsnetwork.ca/sunnews/politics/archives/2014/06/20140617-171424.html

TX-eye on June 17, 2014 at 9:13 PM

I expected it and so did most common sense average Americans. We never believed the liberal nonsense that the country was running out of oil.

cimbri on June 17, 2014 at 9:13 PM

dmacleo on June 17, 2014 at 9:02 PM

Great link! And as far as the one key video for everyone to see it’s this 3 and half minute excerpt from the 2007 show The Great Global Warming Swindle, that covers the CO2 lag and exposes Al Gore’s willful deceptions on CO2.

This video ultimately (after I googled extensively yet in vain for rebuttals) changed me from a warmist to a skeptic, so all conservatives, and everybody, should see it. I’ve put it up here a lot, so maybe you’ve already seen it, but if not, check it out and spread the word about it on facebook or other blogs or whatever: https://www.youtube.com/watch?v=WK_WyvfcJyg&info=GGWarmingSwindle_CO2Lag

anotherJoe on June 17, 2014 at 9:13 PM

Ever notice how the scant few successes of the country’s recent history happened despite Obambi’s incessant whining?

EvilMonk on June 17, 2014 at 9:17 PM


MeanWhile,..the KeyStone Pipeline is still in Limbo,
but in CanuckLand,

another pipeline (GateWay) is going to Asia!!

The Associated Press @AP · 18s

BREAKING: Canadian government approves pipeline that would allow oil to be shipped to Asia: http://apne.ws/1pdC6vU

http://bigstory.ap.org/article/canada-oks-oil-pipeline-pacific-coast

canopfor on June 17, 2014 at 9:18 PM

That picture is kickass:)

thebrokenrattle on June 17, 2014 at 9:09 PM

thebrokenrattle: I second that,..AwesomeLicious:0

canopfor on June 17, 2014 at 9:20 PM

I admit, I had to look it up..
ABOT

wolly4321 on June 17, 2014 at 9:20 PM

I keep reading these energy boom articles on HotAir but I’m still paying nearly $4 a gallon for gasoline, nearly $5 in California. What’s the deal?

jawkneemusic on June 17, 2014 at 9:23 PM

BREAKING: Canadian government approves pipeline that would allow oil to be shipped to Asia: http://apne.ws/1pdC6vU

http://bigstory.ap.org/article/canada-oks-oil-pipeline-pacific-coast

canopfor on June 17, 2014 at 9:18 PM

I give Canada all sorts of kudos for waiting as long as it has. Our evironazi’s don’t seem to understand Eco 101.

CoffeeLover on June 17, 2014 at 9:23 PM

El Baracka and the EPA will put the kibosh on this real quick.His enviro-whacko base is working itself into a tizzy with this.Time to throw them a bone.

jeffinsjvca on June 17, 2014 at 9:26 PM

But, but, but…Peak Oil is right around the corner!

Galtian on June 17, 2014 at 9:26 PM

More bad news for Mother Earth…

Read a damn science book wingers…..

BigWyo on June 17, 2014 at 9:12 PM

So, it’s YOU. I heard there was a lefty that had moved to Wyoming. Hang out with the locals do ya? [snicker]

rottenrobbie on June 17, 2014 at 9:29 PM

http://www.latimes.com/business/la-fi-oil-20140521-story.html

vlad martel on June 17, 2014 at 8:56 PM

The key words are “existing technology” — I’m in the part of the Permian Basin of West Texas that couldn’t be drilled just a decade ago, because the existing technology didn’t allow most of the oil to be removed from the area at a profit. Now that the technology is there, the area has 75 active drilling rigs within a 40 miles radius.

The other thing is the price — the same area would go back to being non-viable if the price of oil drops below $80 a barrel, which is likely the situation with the Monterey Shale, except that instead of $80 a barrel with existing technology, you may be looking at $120 a barrel to get it out using current methods, until they improve to the point the extraction costs are lowered. Of course, lots of areas around the world — fracked or not — would become viable at $120 a barrel, and the price getting speculatively too high and then the oil market becoming glutted at $147 a barrel led to the crash of mid-to-late 2008 (which in turn aided in Obama’s election and left oil at $38 a barrel around the time he was sworn into office).

The other X factor here is the L.A. Times itself, where the group ideology would make any hint of the Monterey Shale being non-viable be seen as a success for the state, not a failure. So any story that even hints at not drilling in California has the potential to be over-hyped by the paper — Whether or not that’s the case here remains to be seen by follow-up reports.

jon1979 on June 17, 2014 at 9:30 PM

More bad news for Mother Earth…
Read a damn science book wingers…..
BigWyo on June 17, 2014 at 9:12 PM

I did read a science book and it told me that Co2 is good for plants and trees. Why do you hate plants and trees you moonbat?

jawkneemusic on June 17, 2014 at 9:33 PM

I keep reading these energy boom articles on HotAir but I’m still paying nearly $4 a gallon for gasoline, nearly $5 in California. What’s the deal?

Not enough refineries and asinine regulations that mandate different blends for different states/locations and/or different times of the year.

F X Muldoon on June 17, 2014 at 9:37 PM

OT:

Turks give Iraqi Kurds go-ahead for independence.

This is absolutely stunning.

I’m guessing the Turks figure that the entire region might just go up in flames, so they’ve decided that they need to husband their resources for an existential battle.

What an incredible turnaround.

A Chair of Some Kind on June 17, 2014 at 9:37 PM

Just think what we could really do if we got the AGW/liberal/Democratic idiots out of the way!

GarandFan on June 17, 2014 at 9:39 PM

That picture is kickass:)

thebrokenrattle on June 17, 2014 at 9:09 PM

I know, right?
I love art that drives degenerate art critics insane.
RIP Kincaid….

abobo on June 17, 2014 at 9:40 PM

So why is gas so damn high? Do we need to build refineries or what?

HotAirian on June 17, 2014 at 9:01 PM

Inflation.

…(I)nflation is higher than the consumer price index (CPI) would indicate, because the government keeps changing the CPI. “That’s why you see more expensive food in the supermarket, more expensive gasoline, but it doesn’t seem to show up in the CPI,” he argued.

Fallon on June 17, 2014 at 9:42 PM

I keep reading these energy boom articles on HotAir but I’m still paying nearly $4 a gallon for gasoline, nearly $5 in California. What’s the deal?

jawkneemusic on June 17, 2014 at 9:23 PM

Demand for oil from places like China and India keeps going up and that drives the price per barrel up and up. Plus, oil does not equal gasoline until it’s refined. We haven’t built any new refineries since the 70s. Didn’t California have a refinery blow up in the last few years or so? Furthermore, California adds the additional burden of demanding its own special blends of gasoline from our existing refineries to help save the spotted oil. And then there’s taxes, and winter blends and summer blends and ethanol and …

The good thing about all these factors is that any increase in gas prices will also be reflected in trivial things like increased food prices. It’s not like we get everything shipped on gas driven trucks to our grocery stores. /s

Ruckus_Tom on June 17, 2014 at 9:47 PM

Turks give Iraqi Kurds go-ahead for independence.

A Chair of Some Kind on June 17, 2014 at 9:37 PM

The Turks would probably be happy just to see the Kurds stay out of the Whey.

anotherJoe on June 17, 2014 at 9:49 PM

Only if Hussein is as incompetent as STOPPING IT as he is at everything else.

ConstantineXI on June 17, 2014 at 9:52 PM

Demand for oil from places like China and India keeps going up and that drives the price per barrel up and up. Plus, oil does not equal gasoline until it’s refined. We haven’t built any new refineries since the 70s. Didn’t California have a refinery blow up in the last few years or so? Furthermore, California adds the additional burden of demanding its own special blends of gasoline from our existing refineries to help save the spotted oil. And then there’s taxes, and winter blends and summer blends and ethanol and …
The good thing about all these factors is that any increase in gas prices will also be reflected in trivial things like increased food prices. It’s not like we get everything shipped on gas driven trucks to our grocery stores. /s
Ruckus_Tom on June 17, 2014 at 9:47 PM

I largely remember the cost per barrel of oil during the start of the Iraq war being around what it is today and gas prices in California were under $2 a gallon for the cheap stuff.

I do get your other points though and yes it has jacked up the cost of feeding ourselves too. I’m sick of this crap.

jawkneemusic on June 17, 2014 at 9:53 PM

More bad news for Mother Earth…

Read a damn science book wingers…..

BigWyo on June 17, 2014 at 9:12 PM

Recommend me one that doesn’t have an agenda; one that isn’t published by, authored by, or subsidized by someone who is not in the paid employ of the warmist/alarmist cabal.

massrighty on June 17, 2014 at 10:05 PM

This’ll never happen. After Captain Dispshit reads about this while watchin’ World Cup coverage from the oval office tomorrow, he’ll make a hard pivot to get the EPA crackin’ on a pile of new restrictions. Bank it.

a5minmajor on June 17, 2014 at 10:12 PM

Always amazed me that lefties will make ridiculous sport of Christians for believing the Bible, but will swallow a retarded load of drivel from any greenie text.

a5minmajor on June 17, 2014 at 10:14 PM

The Great Historic Obama Energy Boom continues.

And you morons sit here and complainl

everdiso on June 17, 2014 at 10:15 PM

There is a fly that spreads the plague and deposits its infected eggs in the eyes of newborn children, sadly this fly breeds at several proposed fracking sites therefore we must stop all fracking to protect this valuable species.

Bishop on June 17, 2014 at 8:54 PM

That’s pretty racist, eh?

Tard on June 17, 2014 at 10:23 PM

canopfor on June 17, 2014 at 9:18 PM

I give Canada all sorts of kudos for waiting as long as it has. Our evironazi’s don’t seem to understand Eco 101.

CoffeeLover on June 17, 2014 at 9:23 PM

CoffeLover: The ProgTards have Hi-Jacked the US Commerce!:)

canopfor on June 17, 2014 at 10:26 PM

More bad news for Mother Earth…

Read a damn science book wingers…..

BigWyo on June 17, 2014 at 9:12 PM

BigWyo: I have,………………………

………..Its DA SUN!!

canopfor on June 17, 2014 at 10:29 PM

The Great Historic Obama Energy Boom continues.

And you morons sit here and complainl

everdiso on June 17, 2014 at 10:15 PM

I hope you are getting paid. So sad to be such a lackey…
no character. Do tell what he had to do with it? Hilarious. But hey if you want to celebrate the death of the environment…right? right? What a little child you are.

CW on June 17, 2014 at 10:35 PM

More bad news for Mother Earth…

Read a damn science book wingers…..

BigWyo on June 17, 2014 at 9:12 PM

Something tells me Mother Earth will be just fine in the long run…

JohnGalt23 on June 17, 2014 at 10:46 PM

Did I say war on coal?

I meant war on oil.

/Obama

Oxymoron on June 17, 2014 at 10:49 PM

Turks give Iraqi Kurds go-ahead for independence.

This is absolutely stunning.

I’m guessing the Turks figure that the entire region might just go up in flames, so they’ve decided that they need to husband their resources for an existential battle.

What an incredible turnaround.

A Chair of Some Kind on June 17, 2014 at 9:37 PM

++++++++++++++++

They want a stable buffer state between them and the ISIS crazies. Or is that the existential battle you meant?

fabrexe on June 17, 2014 at 10:53 PM

best news since this idiot took over…years ago and that despite his insane policies. In related news, Canada just approved the pipeline proposal that would bring oil to the Pacific Coast for shipment to Asia, so basically they don’t don’t count on keystone anymore :( , they made alternative plans and moved ahead with them, doing what’s best for their country and their interests.

jimver on June 17, 2014 at 10:57 PM

fabrexe on June 17, 2014 at 10:53 PM

I was in shock too, to read about that..it’s like news from a parallel universe. Good news, but still…and sure the circus brought to town by the ISIS these oast weeks have everything to do with it..better have the kurds in the middle, plus they’re good fighters too,. the turks will have less to worry about…

jimver on June 17, 2014 at 11:02 PM

So why is gas so damn high? Do we need to build refineries or what?

HotAirian on June 17, 2014 at 9:01 PM
—-

Along with the answers above, add this:

The easy to extract oil has mostly been produced or is spoken for.

90% of all new wells are fracked. This type of extraction is expensive.

So are the special blends of seasonal fuel…ask the refineries.

Meremortal on June 17, 2014 at 11:32 PM

, they made alternative plans and moved ahead with them, doing what’s best for their country and their interests.

jimver on June 17, 2014 at 10:57 PM

Not quite. That deal isn’t done, it has large right-of-way problems, including with Indian Tribes, that are yet to be settled. The enviros are also all over it, and that pipeline is going to delay-by-lawsuit hell.

It does increase the pressure somewhat on the USA to make a deal. We get Canadian product at a discount and have for years, and we’ve been told that is going away if we don’t allow the pipeline.

Meremortal on June 17, 2014 at 11:36 PM

It does increase the pressure somewhat on the USA to make a deal. We get Canadian product at a discount and have for years, and we’ve been told that is going away if we don’t allow the pipeline.

Meremortal on June 17, 2014 at 11:36 PM

I did read about the reaction of the Canadian enviro wackos and I figured they would put up a fight. but didn’t know about the right-of-way/Indian tribes issue. Count on the left to bribe the Chiefs with promises of freebies…

jimver on June 17, 2014 at 11:51 PM

And gas will be back to $1.50 like when Bush was president when?

F_This on June 18, 2014 at 12:25 AM

So why is gas so damn high? Do we need to build refineries or what?

HotAirian on June 17, 2014 at 9:01 PM

Gas isn’t expensive at all. It’s still only about 25 cents a gallon. Of course, that quarter you have to pay is made of silver.

trigon on June 18, 2014 at 1:56 AM

More bad news for Mother Earth…

Read a damn science book wingers…..

BigWyo on June 17, 2014 at 9:12 PM

.
So, it’s YOU. I heard there was a lefty that had moved to Wyoming. Hang out with the locals do ya? [snicker]

rottenrobbie on June 17, 2014 at 9:29 PM
.

I did read a science book and it told me that Co2 is good for plants and trees. Why do you hate plants and trees you moonbat?

jawkneemusic on June 17, 2014 at 9:33 PM

.
Why do conservatives always need to do your reading for you? Why do liberals hate science and math?

blink on June 17, 2014 at 9:37 PM
.

Recommend me one that doesn’t have an agenda; one that isn’t published by, authored by, or subsidized by someone who is not in the paid employ of the warmist/alarmist cabal.

massrighty on June 17, 2014 at 10:05 PM

.
Earth isn’t a “mother”, unless you’re implying the abbreviated, vulgar use of the word.

listens2glenn on June 18, 2014 at 7:31 AM

I follow all the development happening in Houston, Texas my hometown at a great site – http://www.houstonarchitecture.com/haif/forum/7-going-up/
Same thing can be said for DFW, Austin, and West Texas.

I have always wondered how much of the economic growth in the United States can be attributed to the oil boom and if you subtracted that, how little growth has happened elsewhere.

For example, a useful imaginary statistic could be Texas and other energy production states create 2.5 million of the 5 million jobs created in the United States from 2009-2014.

Same thing with GDP growth, housing starts, value of construction, etc.

Does anyone know the answer to that question? Certainly Tech in California and Boston also is doing well too. But what do any of these industries have to do with federal policy? I think the Tech boom is probably happening due to the slowness of regulation to keep up with technology and quash innovation and the energy boom is happening on private lands.

timoric on June 18, 2014 at 8:34 AM

China’s trying to take some islands, over 200 miles away from the homeland, away from Viet Nam, there’s oil there. Everyone is going to start grabbing all the energy they can. We do need to build some refineries and Montana, ND or SD would be great places to start.

Kissmygrits on June 18, 2014 at 9:21 AM

Water will be where the big fight will be.

APACHEWHOKNOWS on June 18, 2014 at 9:41 AM

It’s hilarious that you would try giving Obama credit for it. He’s fought it every inch of the way.

blink on June 18, 2014 at 1:13 AM

yah, that’s the ticket, blink!

America is experiencing its biggest energy boom – across every energy sector – in history under obama………and not only does Obama not get credit for it, he deserves CRITICISM for it not being even bigger than the biggest ever!

hilarious.

everdiso on June 18, 2014 at 10:51 AM

America is experiencing its biggest energy boom – across every energy sector – in history under obama………and not only does Obama not get credit for it, he deserves CRITICISM for it not being even bigger than the biggest ever!

hilarious.

everdiso on June 18, 2014 at 10:51 AM

Reading comprehension is not your fortey.

Explorations on PRIVATE land, which receive NO help from Obama, is experiencing massive production increases.

Explorations on PUBLIC land, which is the domain under Obama, is actually DECREASING production.

Stop giving credit to Obama when he doesn’t deserve it.

dominigan on June 18, 2014 at 12:17 PM

the United States is on track to become the world’ biggest oil exporter by 2020

Shouldn’t that be oil producer?

agmartin on June 18, 2014 at 1:02 PM

Great, now we can defund the Dept. of Energy who’s failing job of over thirty years to get us off foreign oil comes to an end saving us over 23.3 billion dollars which was their budget last year.

mixplix on June 18, 2014 at 1:47 PM

It’s hilarious that you would try giving Obama credit for it. He’s fought it every inch of the way.

blink on June 18, 2014 at 1:13 AM

.
yah, that’s the ticket, blink!

America is experiencing its biggest energy boom – across every energy sector – in history under obama………and not only does Obama not get credit for it, he deserves CRITICISM for it not being even bigger than the biggest ever!

hilarious.

everdiso on June 18, 2014 at 10:51 AM

.
Nobody else here is laughing at the resistance Obama has been putting up against the U.S. drilling for it’s own oil.
.
Why are you?

listens2glenn on June 18, 2014 at 9:49 PM