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U.S. Oil Industry Has Bigger Problems than Biden Fracking Ban

The U.S. oil business has bigger potential problems than Joe Biden’s promised fracking ban. There is no doubt that the Biden/Harris promise to ban hydraulic fracturing on federal lands and waters would severely hamper the nation’s oil and gas business sector.

In addition to curtailing about 20% of U.S. oil production that comes from federal leases, such a move would cause capital flight away from oil projects in the U.S., regardless of land type since it would send a signal that government policy in a Biden administration would present a high degree of risk and uncertainty. This is an outcome an already capital-strapped industry can ill-afford.

But as impactful as that potential problem would be, U.S. oil and gas producers face an even larger looming headache this morning: Uncertainty about the continuation of the OPEC+ agreement, the deal among large oil producing countries to limit output and exports onto the global market. The existence of that agreement currently has its member nations withholding about 7.7 million barrels of crude per day from the market. It is the main reason why the current U.S. benchmark price for West Texas Intermediate, which currently hovers above $45 per barrel, hasn’t collapsed back down below the $20/bbl mark.

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Today’s news moves at a faster pace than Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

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Fracking Ban is Just One of Many Ways for Biden/Harris to Attack Oil and Gas

Assuming that the various challenges being filed by President Donald Trump this week to election results in several states fail and Democrat Joe Biden does become the next President of the United States, the potential impacts to the oil and gas industry in the U.S. would be numerous and severe. While only one significant oil and gas-related issue was raised to high prominence during the general election campaign – Biden’s promises to ban hydraulic fracturing at various times and levels – it is a mistake to assume that that would be the only way in which a Biden/Harris Administration would impact the industry.

The first tranche of impacts will come in the form of executive orders. Like the Obama/Biden presidency before him, a great deal of President Trump’s energy-related policy has been enacted via executive orders. The obvious vulnerability of any executive order is that it usually can be easily reversed by a successor in office. Thus, the most immediate impacts of a Biden presidency will come in the form of efforts to increase regulation on the energy industry via the reversal of various Trump executive actions. Biden and Harris repeatedly promised to take these actions throughout their campaign, so we should expect a quick follow through on what amounts to low-hanging fruit.

Those likely executive order reversals include:

·        Re-entry of the United States into the Paris Climate Accords

·        Re-entry of the United States into the Obama-era Iran deal, which would free up Iran to dramatically increase its exports and potentially impact crude prices;

·        Trump’s order to end the Council on Environmental Quality’s guidance that all federal permitting decisions and NEPA reviews must consider climate change impacts;

·        Trump’s order to disband the Interagency Working Group on Social Cost of Greenhouse Gases;

·        Trump’s various orders designed to eliminate delays in federal permitting processes.

We can also expect a Biden presidency to follow through on his promises to ban hydraulic fracturing on federal lands and waters, which represent a very sizable percentage of overall U.S. oil and gas production. This can be accomplished by an order from either a President Biden or from his future Secretary of the Interior, although we should also expect Interior to follow up and attempt to frame it in the form of regulations in order to make it more of a permanent change.

It is also important to remember that Sen. Kamala Harris promised to eliminate hydraulic fracturing entirely in the U.S. repeatedly during her own presidential effort in 2019, and never really backed off of that promise during the general election campaign as Biden’s running mate. On the few occasions when she was asked about it, she was always very careful to say that “Joe Biden will not ban fracking,” and no more than that.

 

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Today’s news moves at a faster pace than ever. Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

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Tuesday News Roundup: Vote Like Your Way of Life Depends on it – Because it Does

[Note: You can read my predictions for the outcome of this election HERE.]

Here is one reason why massive post-election voter fraud is Joe Biden’s and his fellow Democrats’ only hope:

An excerpt from the linked article:

Wisconsin Democrats do not appear to be hitting their vote-by-mail and in-person early voting goals, an analysis of the early vote by “The Dan O’Donnell Show” has found. Despite a massive push for early voting across the state, the 12 counties won by Democrat Hillary Clinton in 2016 are badly trailing their early vote percentage from four years ago.

As of Monday morning, the day after in-person early voting concluded in Wisconsin, the 12 Democrat counties–Ashland, Bayfield, Dane, Douglas, Eau Claire, Green, Iowa, La Crosse, Menominee, Milwaukee, Portage, and Rock–accounted for a total of 743,829 votes; 39.4 percent of the 1,886,533 cast statewide. In 2016, those 12 counties accounted for 50.4 percent of the statewide early vote (336,533 cast out of 666,846 total early votes).

Dane and Milwaukee Counties–Wisconsin’s most populous and most overwhelmingly Democratic–account for 29.8 percent of the 2020 early vote total, down a full percentage point from the 30.9 percent share of Wisconsin’s early vote in 2016.

[End]

Oh. You don’t say.

This trend is not isolated to Wisconsin – it is happening all over the country and portends a big Trump/GOP win coming today. The only hope Biden and the Ds have is to steal millions of votes with post-Election Day vote “counting” shenanigans. Luckily, unlike Mitt Romney in 2012 and McCain in 2008, the President’s campaign is deploying thousands of lawyers and poll watchers to police the situation.

Here’s a great example of the Democrats’ plans for the rest of this week and beyond:

It’s only Democrats saying stuff like this – Republican-run cities and counties are going to get their votes counted tonight. Period. The Republican-run counties in PA and Florida will get their results in in just hours after the polls close, but you will see Democrat-run areas like Philly and Palm Beach and Broward counties in Florida take days and perhaps weeks.

Why? Can’t Democrats do basic math? Is it really so hard? Why do Democrat officials insist on pretending they are all elementary school dropouts?

The one and only reason for putting up this pretense is so they can extend the time they have available to “find” boxes of ballots in trunks of cars, in broom closets, buried under trees, etc. This must be stopped.

Get ready for the rioting:

It’s not like they’re making any secret of it, folks. And here is an immutable fact: If you had to board up your homes and/or businesses this week in anticipating of Democrat-sponsored rioting and looting tonight, THAT MEANS YOU HAVE BEEN ELECTING DEMOCRATS.

Stop doing that, and the problem disappears. This is not hard or complicated, much like counting votes.

This is a good sign:

Yeah, it’s 26 votes, but 16 of them going Trump’s way is just a sign of what is to come in New Hampshire, which Trump lost in 2016 by just a couple of thousand votes.

But what about Florida? – Here you go, from the most accurate pollster in 2016:

Look, folks, even the Pennsylvania Amish have jumped on the Trump Train:

Oh, my.

Here was last night’s Trump rally in Wisconsin, where more than 30,000 turned out to see the President:

Amazing.

Here’s what Joe Biden was doing in the Fracking state of Pennsylvania, the hub of the giant Marcellus Shale natural gas resource play:

Here’s the thing about that: The tiresome Ms. Gaga is a virulent anti-Fracking activist. Completely brain dead and tone deaf by the Biden camp.

Nail, here is Tucker Carlson hitting you on the head:

Our ruling class is indeed disgusting, and the thing it fears the most is a President Donald Trump governing unimpeded by re-election considerations. It is time we give that to the Swamp rats, snakes and skunks.

It’s a great day to be an American. If you haven’t voted yet, get out and do it like your way of life depends on it.

Because it does.

That is all.

Today’s news moves at a faster pace than ever. Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

 

 

Open post

America Is About To Have Its First Fracking Election

This has never happened before. The oil and gas business – the industry, its health and its impact on inflation and consumer prices – has always played some small role in presidential politics, at least since the oil shocks and embargoes of the 1970s. Most times in the past, the key issue surrounding oil and gas has related to the price of gasoline and what the candidates planned to do about it.

The issue of oil and gas has only arisen whenever gas prices were considered to be too high, never when consumers were benefitting from them being historically low, as they are today. Yet, suddenly this year, this key industry is playing a huge role in the 2020 presidential politics, and it is wholly unrelated to anything having to do with prices at the pump.

The issue in this election campaign is fracking, and whether or not it will remain legal should Democrat candidate Joe Biden become our next president. While this longstanding and well-regulated industrial process has hovered around the periphery of presidential politics since 2008, when the anti-development lobby decided to politicize it with a focused and highly-organized demonization campaign, it has suddenly become one of a handful of crucial issues that dominate the political landscape this year due to its job-creating and economic impacts in a single swing state: Pennsylvania.

How important is it? Early Monday morning, the Trump Campaign announced that President Donald Trump would be holding three separate campaign rallies that day. This is nothing unusual, given that the President has made a habit of holding multiple rallies each day during both of his presidential efforts. On Saturday alone he held rallies in the state of Florida, North Carolina, Ohio and Wisconsin.

What is unusual about Monday, though, is that all three of the Trump rallies will be held in Pennsylvania, which has become perhaps the single most crucial swing state in the 2020 election. Biden is also paying special attention to the Keystone State, holding events there on Friday and Saturday, and sending both ex-President Barack Obama and Senator Bernie Sanders there to campaign on his behalf over the weekend.

Pennsylvania was certainly a key swing state in 2016, but its importance was equaled by Florida, Wisconsin, Michigan and North Carolina as the race played out. This year, though, it has become increasingly difficult to see how either major candidate can prevail in the Electoral College without having Pennsylvania’s 20 electoral votes included in his total.

All of which explains why the issue of fracking and its continued legal deployment has become so elevated in the national discourse this year. Pennsylvania is, after all, the fulcrum for the development of the enormous Marcellus Shale/Utica Shale resource plays, the largest natural gas reserve in the Western Hemisphere.

 

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Today’s news moves at a faster pace than ever. Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

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Trump Won the Final Debate; Now, He Must Win the Election

How damaging was Joe Biden’s statement that he would destroy the U.S. oil and gas industry in last night’s debate? So damaging that at least one Democrat congressional candidate in New Mexico was disavowing him and her Party in real time:

Biden’s latest promise to destroy an industry that provides more than 2 million direct jobs and supports another 8-9 million nationally will have major ramifications down the ballot in close races, not just in New Mexico, but also in Texas, Oklahoma, Kansas, Wyoming, Colorado, Utah, California, Alaska and the crucial swing states of Ohio, Michigan and most of all, Pennsylvania, the hub of the giant Marcellus Shale natural gas resource.

The irony is that Biden’s promise to “transition away from the oil industry, yes” came mere moments after he had outright lied to his national TV audience, claiming that he had “never” promised to ban hydraulic fracturing, a lie that Trump pretty much immediately disproved by tweeting out the same video he showed at this week’s big rally in Eerie, PA. That video shows both Biden and Kamala Harris promising to eliminate fracking on at least a dozen different occasions:

The President responded to Biden’s latest fracking lie by looking directly into the camera and telling the truth: “Basically, what he’s saying is that he is going to destroy the oil industry. Will you remember that, Texas? Will you remember that, Pennsylvania? Will you remember that, Oklahoma?”

Joe Biden can’t win this election without carrying Pennsylvania. He has no road to the White House without it going through the Keystone State. By promising one more time to eliminate the oil industry, the Democrats’ Unfrozen Caveman Nominee essentially told PA’s tens of thousands of workers who rely on the industry to support their families  that they need to “learn to code,” to quote Barack Obama’s infamous advice to coal workers.

In 2016, Donald Trump basically secured the election with a win over the Pantsuit Princess in their final debate. Last night, I believe he essentially did the same thing with a clear dominance of Biden, who became increasingly confused and fatigued as the debate progressed and even made the George HW Bush mistake of getting caught looking longingly at his watch about 2/3rds of the way through.

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Despite the incessant interruptions and typically slanted “questions” coming from hack moderator Kristen Welker, Trump also got in the two most memorable zingers of the evening.

At one point, when Biden said “I don’t know where he comes from…”, Trump interrupted by quickly saying, “Queens.” Hilarious.

Then, when Biden rolled out the despicable Democrat lie that the border facility holding cages were an invention of the Trump Administration, the President responded with “Who built those cages, Joe?”

Oof.

Then there was this exchange:

President Trump:  “He thought I shouldn’t close the border to China.”

Moderator to Biden: “Do you want to respond to that?”

Biden: “No…”

China Joe’s campaign staff must’ve screamed in unison at that one.

The whole night went that way, with Biden stammering through obviously-scripted non-answers and the President directly taking the issues head-on, displaying the genuineness that got him elected in the first place in 2016. Biden “won” in the snap polls that several outlets put out immediately following the debates, but that has always been the case with Trump’s debates. What matters is what people will remember from the debate over the next several days.

After the first debate, all anyone remembered was Chris Wallace’s horrific moderation and the President’s anger, and it damaged Trump. It was in fact the only presidential debate Trump ever lost.

From this debate, people are going to remember the visual of Biden looking at his watch, Biden being confused and artificial, Biden’s negativity and Trump’s zingers and positive outlook.

That positive outlook, Trump’s obvious love of this country and everyone and every business in it, will end up being the overriding key. Biden lost this debate – and in my opinion, the election – when he said at one point that “we are about to go into dark winter.”

Trump’s response? “I don’t think we’re going to have a dark winter at all.”

So, that’s it; that’s the choice America now sees before it: A “dark winter” with a clearly-addled, mean-spirited old career politician who has been on the take for decades, or a bright future with the guy who created the greatest economy we had ever seen before China sent its viral plague to our shores.

As one anti-Trump network correspondent was overheard saying to colleagues in the press room before the debate: “It’s going to be a long 2nd term.”

For the corrupt news media, it sure will be. For America, happy days are here again.

That is all.

Today’s news moves at a faster pace than ever. Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

Open post

Gavin Newsom’s Unbridled Energy Hubris

Three big oil and gas-related stories this week were all interrelated with one another, though few really understand that to be the case. Those stories were:

 

 

For Governor Newsom, banning hydraulic fracturing – or “fracking” as it has come to be called – in his state is a relatively simple matter in what has become, for all intents and purposes, a one-party state. All he has to do is convince his overwhelming majorities in both houses of California’s state assembly to pass a bill mandating that all fracking operations cease within the state’s borders by a date certain.

Such a move would of course eliminate thousands of oil and gas-related jobs in the state, but most of those are concentrated in Republican Kern County and the surrounding parts of the Central Valley, over which the assembly’s Democrats would have little concern. Besides, they can all just respond to Republican and industry complaints with the Obama-era pretense that all those lost jobs and more will be made up by the heavily-subsidized wind and solar industries. It will be akin to former President Obama telling West Virginia coal miners and Ohio steel workers that their jobs are never coming back and they should all go learn to code.

Replacing the state’s millions of gas and diesel autos with electric vehicles will be far more complicated. Newsom’s order gets that ball rolling by requiring the California Air Resources Board to implement the phaseout of new gas-powered cars and light trucks in the coming years, and also require medium and heavy-duty trucks to be zero-emission by 2045 where possible. Sounds simple, right?

But here’s the thing about all of that: The generation and provision of energy is basically a zero-sum game. When you ban one energy source, you must figure out a way to generate the same amount of energy by another source. You either do that or you accept the reality that energy will become scarce, and thus far more expensive so that consumers demand less of it, and write off the negative economic consequences that will inevitably result.

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Today’s news moves at a faster pace than ever. Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

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Did BP Really Say That Global Oil Demand Has Peaked? No, Not Really.

During a panel discussion in which I participated recently with three energy experts, the moderator asked us if we agreed with the recent projection by British oil giant BP that oil demand may have already peaked during 2019. Everyone on the panel answered with a firm “no.”

From my own perspective, I gave that answer in large part because all of the dozens of previous “peak oil” predictions – whether from the supply side or the more recent demand side reasoning – have turned out to be entirely wrong, often in hilarious fashion. From an historical perspective, it just seems like the safer position to take.

That’s not to downplay the position assumed by BP, whose internal expertise is undeniable. But it’s key to note that much of the media coverage the company’s findings have received portrays BP’s position as being far more absolute than it really is. The company’s position on “peak oil” is in fact highly-qualified.

As a part of its recently-released Global Energy Outlook study, the company ran three scenarios based on differing assumptions regarding how rapidly governments around the world would attempt to move to adopt emissions-reducing policies and subsidize renewables. The cases were labeled “Rapid” (the most aggressive assumptions), “Net-Zero” (assuming most governments would adopt ‘net-zero by 2050’ policies) and “Business as Usual”, in which progression would continue on the slower path seen to date.

In a COVID-19 hampered world in which governments across the globe are teetering on the brink of insolvency, the “Business as Usual” scenario certainly appears to be most likely to persist for the time being, given the multi-trillion dollar costs involved in the other two cases. Under that scenario, BP in fact projects that global demand will not only recover to pre-COVID levels seen late last year, but continue to grow through the year 2030.

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That is all.

Today’s news moves at a faster pace than ever. Whatfinger.com is the only real conservative alternative to Drudge, and deserves to become everyone’s go-to source for keeping up with all the latest events in real time.

Open post

Biden Tries Again to Clarify His Fracking Stance, and Fails Again

The Biden/Harris ticket has been the source of a great deal of confusion during this campaign related to the candidates’ stances on the subject of hydraulic fracturing. Senator Kamala Harris firmly stated several times in the past that she is absolutely in favor of banning fracking, but has been attempting to walk all of that back in recent weeks as the polls have tightened in oil and gas states like Pennsylvania and Michigan.

Former Vice President Joe Biden, meanwhile, has been all over the place on this issue, promising repeatedly to ban fracking in whole or in part during the primary season, and more recently joining Harris’s efforts to modify that position in order to shore up his chances in those and other crucial swing states. Biden was asked the question again by an undecided voter during his CNN town hall appearance in Moosic, Pennsylvania this week, and again attempted to modify and clarify his position. Unfortunately, a reading of the transcript of that exchange doesn’t really clarify much at all.

Here is that transcript:

QUESTIONER: Good evening Mr. Vice President, Mr. Cooper. With the abundance of natural gas in northeast Pennsylvania. Do you support the continuation of fracking safely and with proper guidelines, of course, and growing the industry (garbled) additional jobs to our region?

BIDEN: Yes, I do. I do. In addition to that, we can provide for right now, as you know, for thousands of uncapped wells because a lot of companies gone out of business. Whether they’re gas or oil facilities, we can put to work right away 250,000 people from iron workers and other disciplines, making union wages. Capping those wells that are leaking methane and their danger to the community. And so, not only do I continue to support it.

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That is all.

Today’s news moves at a faster pace than ever. Whatfinger.com is my go-to source for keeping up with all the latest events in real time.

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Rumblin’ Bumblin’ Stumblin’ Joe Biden Lies His Way Through Pittsburgh

Creepy Uncle Quid Pro Dementia China Joe Biden was allowed by his handlers to venture out of the basement Monday on an emergency mission to Pittsburgh, as his campaign’s polling tanks due to the big-city riots his Party has been sponsoring around the country. Biden, who couldn’t be bothered to even acknowledge the mayhem being created by his Party’s domestic terrorist support groups at his convention two weeks ago, took the stage in Pittsburgh to try to convince the public that it’s all Trump’s fault.

“Does anyone believe there will be less violence in America if Donald Trump is reelected?” Biden’s speech in Pittsburgh said. “We need justice in America. And we need safety in America. We are facing multiple crises – crises that, under Donald Trump, keep multiplying.”

Well, yes, the crises keep multiplying because the Democrat Party and its corrupt toadies in the Nazi-style news media keep inventing them out of whole cloth. And let’s notice that that first sentence is in fact a direct threat to the American voter – a threat that the Party and media will only ramp up the violence and mayhem should they re-elect the President. That threat is seditious, and it is evil.

But things only went downhill from there. At one point, the Democrats’ Unfrozen Caveman Nominee tried his hand at China Virus math, and hilarity ensued:

Please marvel at the fact that Joe Biden was in fact standing there reading a damn speech off of a TelePrompter. And that, friends, is why you will never see Joe Biden on the same stage with President Trump in a debate. He can’t even be trusted to properly read a script.

Biden also at one point during his speech had this to say about allegations that he would ban fracking if elected:

“I am not banning fracking,” he said. “Let me say that again: I am not banning fracking, no matter how much Donald Trump lies about me.”

In fact, during the Democrats’ debate last August, Joe Biden raised his hand with everyone else on the stage when asked by the moderator if he would ban fracking. Raising your hand means “yes”, Joe.

But more recently, he has gone even further than that, promising to ban fossil fuels altogether:

So, yes, all you good people in Pennsylvania and other oil, gas and coal-producing states, Joe Biden would indeed ban not only fracking, but your entire way of life if he is elected in November. Just as importantly, once he resigns and hands the office over to his running mate, Kamala Harris, know that she has also repeatedly promised to ban fracking and indeed, all fossil fuels.

These people are liars, and they’re not really very good at it.

*** UPDATE *** The Trump campaign has already released this:

 

That is all.

Today’s news moves at a faster pace than ever. Whatfinger.com is my go-to source for keeping up with all the latest events in real time.

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