In this season of thanks, thank you President Trump for your energy policies.
According to Bloomberg, the U.S. now has enough oil to rattle energy rich nations like Venezuela, Iran and Russia. He has liberated energy companies from strangling regulations and fracking has taken off with a bang:
In Houston, the U.S. oil capital, shale executives are trying out different superlatives to describe what’s coming. “Tsunami,” they call it. A “flooding of Biblical proportions” and “onslaught of supply” are phrases that get tossed around. Take the hyperbolic industry talk with a pinch of salt, but certainly the American oil industry, particularly in the Permian, has raised a buzz loud enough to keep OPEC awake.
“You’ve got an awful lot of production that can come in very economically,” said Patricia Yarrington, Chevron Corp.’s chief financial officer. “If you think back four or five years ago, when we didn’t really understand what shale could do, the marginal barrel was priced much higher than what we think the marginal barrel is priced today.” …
August saw the largest annual increase in U.S. oil production in 98 years, according to government data. The American energy industry added, in crude and other oil liquids, nearly 3 million barrels, roughly the equivalent of what Kuwait pumps, than it did in the same month last year. Total output of 15.9 million barrels a day was more than Russia or Saudi Arabia.
And why not? Are not our people entitled to low cost and plentiful energy? Trump realizes that the continued road to prosperity for us means we must have cheap and abundant energy. Think how many service jobs will be generated and they will help replace the loss of jobs from increased mechanization.
This policy will strike at poverty, too, as more people can live comfortably without sacrificing unnecessary financial and physical pain in exchange for 65 degree homes in the winter and 80 degree summer homes.
I have often wondered why the “compassionate” liberals are OK with granny suffering in the winter, armed with only a blanket and extra sweater. Or why poor people must shiver, too, while the elites jet about in their private planes, griping about the planet.
All for what? Climate change hysteria? The latest info indicates we’re in a big cooling trend with normal winter temperatures set to be the lowest in centuries. We’ll need that energy then, won’t we?