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Leftards and US energy
WestlinnDuck
Member Posts: 13,939
in Tug Tavern
Leftards, no matter how much “education” they receive are remarkably and proudly ignorant about how economics, science and the free market work. When Ronald Reagan ended oil and gas price controls, that noted economist, Teddie the Socialist Swimmer, predicted an economic crisis for the US middle class. Instead, gas prices plummeted. Barry, the supposed smartest president evah, pronounced the US couldn’t drill its way to lower energy prices. Funny that Sarah P, the stupid Alaska snowbilly figured out that we could. Paul Krugman, may have had the worst “luck” of any Nobel Prize winner in Economics for his prediction of the direction of the US stock market after Trump won election. Leftards of all sorts and species were all in on peak oil. Today, the same morons want to end clean nuclear energy and fracking and have us freeze in the dark. Pretty clear voting issue if you are opposed to pain and misery. If religious green gaia self-flagellation is your bit, then AOC and the nude green eel are the way to go.
https://pjmedia.com/instapundit/352498/
MERRY CHRISTMAS: The decade that blew up energy predictions.
In 2010, the U.S. Energy Information Administration projected that in 2019, the U.S. would be producing about six million barrels of oil a day. The reality? We’re now producing 12 million barrels of oil a day.
Meanwhile, EIA projected oil prices would be more than $100 a barrel. They’re currently hovering around $60 a barrel.
What’s happening: A pair of extraction methods — horizontal drilling and hydraulic fracturing — have unlocked far more oil and gas than experts had predicted, and companies have gotten hyper-efficient extracting more oil from each well.
EIA had projected in 2010 that the U.S. would be importing a net eight million barrels of petroleum by now, which includes crude oil and petroleum products like gasoline. In September, the U.S. actually exported a net 89,000 barrels of petroleum.
Flashback: A driving reason behind this is Congress lifting the 40-year-old ban on crude oil exports in 2015, a policy change few thought possible a decade ago.
In 2010, EIA projected that the U.S. would be producing about 20 trillion cubic feet of natural gas by now. In 2018, the last full year of annual data, we produced more than 30 trillion.
What’s happening: Horizontal drilling and fracking are the key drivers here too — though oil is typically more valuable than gas, so the increase has been greater with oil than gas.
Meanwhile greenhouse emissions, predicted to be up, are down. And all of this happened . . . wait for it, wait for it . . . unexpectedly!
https://pjmedia.com/instapundit/352498/
MERRY CHRISTMAS: The decade that blew up energy predictions.
In 2010, the U.S. Energy Information Administration projected that in 2019, the U.S. would be producing about six million barrels of oil a day. The reality? We’re now producing 12 million barrels of oil a day.
Meanwhile, EIA projected oil prices would be more than $100 a barrel. They’re currently hovering around $60 a barrel.
What’s happening: A pair of extraction methods — horizontal drilling and hydraulic fracturing — have unlocked far more oil and gas than experts had predicted, and companies have gotten hyper-efficient extracting more oil from each well.
EIA had projected in 2010 that the U.S. would be importing a net eight million barrels of petroleum by now, which includes crude oil and petroleum products like gasoline. In September, the U.S. actually exported a net 89,000 barrels of petroleum.
Flashback: A driving reason behind this is Congress lifting the 40-year-old ban on crude oil exports in 2015, a policy change few thought possible a decade ago.
In 2010, EIA projected that the U.S. would be producing about 20 trillion cubic feet of natural gas by now. In 2018, the last full year of annual data, we produced more than 30 trillion.
What’s happening: Horizontal drilling and fracking are the key drivers here too — though oil is typically more valuable than gas, so the increase has been greater with oil than gas.
Meanwhile greenhouse emissions, predicted to be up, are down. And all of this happened . . . wait for it, wait for it . . . unexpectedly!
Comments
Only in government can you get away with that shit.
I remember when the rally cry was we relied on foreign energy abs we needed to DO SOMETHING. Now the leftists and tug commies have moved the goal posts yet again