Quote of the day from our Aussie O&G analyst friend:
…from an anonymous letter circulating in Saudi Arabia, said to be written by an unhappy faction of princes: “We will not be able to stop the draining of money, the political adolescence, and the military risks unless we change the methods of decision making, even if that implied changing the king himself.” (Our Note: between this, Amerca’s poor leadership and Russia’s Mid-East adventure, oil and gas prices may not be in a week what we believe they will be today. -dh) |
Today: Doyon, Limited, a major Alaska landowner, describes its aggressive exploration program for oil and gas in an accessible area west of Fairbanks, in Interior Alaska. Read more (thanks to Doyon’s James Mery)….
A president leading his nation toward disaster Commentary by Dave Harbour When one considers the Administration’s passive-aggressive opposition to virtually all fossil energy projects, he reveals himself to be an enemy of American public interest.
We have described these and many other attacks on the U.S. economy by this administration. The pattern is undeniable. Were the Congress not so lacking in self-confidence and determination to defend the Constitution against all enemies, both foreign and domestic, they should have authored impeachment charges long ago. So now, just consider that one important result of denying the export of plentiful American oil, is to minimize international demand for U.S. oil shale and other energy projects–that could improve national security, dramatically increase employment of American citizens, neutralize much of the balance of payments deficit, reduce the national debt and improve U.S. leadership in the world power vacuum now being filled by a Russian leader– a man with fire in his belly and traditional leadership skills, no matter how badly perverted they may be. Denying American energy exports is a frontal attack on the free market, on the wellbeing of American companies and citizens. It is yet another act that comforts America’s enemies and denies benefits to allies and other friends of the United States. It is another sign of a leader coaxing his flock to follow him to a cliff overlooking a very deep canyon, from which there is no returning. |
Today: U.S. Sen. Lisa Murkowski, (NGP Photo), in response to White House opposition to the Offshore Production and Energizing National Security Act (S. 2011).
“It is unfortunate that the White House fails to understand the national security and geopolitical benefits of lifting the ban on oil exports. Ask Poland, which is 96 percent reliant on Russia for its oil, or Japan, which must continue to rely on Iran, if U.S. oil ‘is not needed at this time.’ The veto threat reveals a fundamental misalignment within the administration. These policy contradictions merit further attention. Regardless of what the president’s advisers may tell him, congressional legislation has become necessary: even though he has the authority to act, he has not – even though the time is right, the need is clear, and the global dividends promise to be significant.”
In July, the U.S. Senate Energy and Natural Resources Committee, chaired by Murkowski, reported favorably her bipartisan bill, the Offshore Production and Energizing National Security Act (S. 2011). If enacted, the bill would fully repeal the outdated restrictions on exporting American oil, while preserving the emergency authorities of the president to act during emergencies.
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