The true reason gas prices are declining..and it isn't being reported

[Roadrunner]

Thank you President Barack Hussein Obama (D)

Thank him for what, Dog Cum?

Is Obama abusing the First Pooch?

 

[KissMy]

US oil production boom under Obama because regulators under his administration allowed boundary-less limitless multi-pad drilling & fracking. US oil production declined the entire time Bush was in office.

Today we can buy gasoline for under $2.50

After the August 2009 regulatory approval under the Obama Administration allowed Multi-Well-Pads "Eco-Pads" to have no setback requirement from property lines, oil companies could drill longer horizontal laterals with each well, stimulating and harvesting reservoir rock that was previously left untouched between wells. “We’ll be drilling fence-to-fence, which has to have a significant effect on each well’s production,” said Mr. Hamm of Continental. “Everyone benefits — the state, mineral owners and the producer.” Fracking oil shale became much more economically viable with reduced regulations on Multi-Well-Pads.

New efficient drilling allowances drove breakeven rates in the Bakken shale oil play as low as $58 per barrel, according to Wood Mackenzie report, far lower than the traditional $73+ per barrel figure frequently touted by analysts.

The fast adoption of multi-well pad drilling, or the ability to drill several wells from one location, reduced the average cost per well to $7.5 million, allowing companies to make more off each barrel of oil, Wood Mackenzie analyst Jonathan Garret said. "The major driver of (well cost) reduction has to do with the number of wells drilled from pads," Garret said. "You're now drilling 3, 4, 12, even 16 wells from a single pad."

This year, more than 90 percent of wells drilled in the Bakken will be drilled from multi-well pads, Garret said. Multi-well pad drilling is much more efficient & environmentally friendly. Bakken breakeven prices are closely watched by the industry and the development of the massive shale play has outpaced forecasts in recent years. Eco-Pad explosion is the force driving the U.S. oil renaissance.

Two months before Obama was elected oil price was $147/barrel & gasoline was $4.10, Then under Obama, regulators reduced regulation for Eco-Pad drillers driving down production cost by over $15/barrel. Then Obama fast tracked the lower Keystone Pipeline driving down WTI vs Brent price spread another $30/barrel. Repubtards crow & pount the airwaves over upper Keystone that can only fix the $3/barrel price spread of Bakken oil. US oil production is booming because of Obama, not Bush.

 

[koshergrl]

Otay!

 

[JakeStarkey]

Are you suggesting that fracking has been a major influence, like green energy, in driving down prices?

 

[rightwinger]

Thank you President Obama

 

[C_Clayton_Jones]

Democrats deserve retaining control of the Senate for low gas prices.

 

[sameech]

Democrats deserve retaining control of the Senate for low gas prices.

Well since they were still lower when W. left office and Obama took over, that logic would seem to favor another party.

 

[KissMy]

Democrats deserve retaining control of the Senate for low gas prices.

Well since they were still lower when W. left office and Obama took over, that logic would seem to favor another party.

Wrong! - New US oil production to consumer cost were way higher when Bush left office. Global oil demand plummeted temporarily driving oil below new production cost because of Bush's economic disaster that crashed the global economy. Oil price was going back to the new production cost to increase supply no matter who was president. New US oil production to consumer cost dropped $45 after Obama took over due to deregulating Eco-Pad drilling & fast tracking lower Keystone all done under Obama's administration, NOT Bush's.

Obama "Fast Tracked" the lower Keystone Pipeline slashing the $30 crude oil price spread efficiently moving land locked oil to market.

 

[Silhouette]

"America has become in the last several years an energy-producing powerhouse...This is a result of the astounding shale oil and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. Already thanks to these inventions, the U.S. has become the number one producer of natural gas. But oil production in states like Oklahoma, Texas and North Dakota has doubled in just six years."

Sweet! Come turn the drinking water in my town into flammable solvents! Cool.

As a bonus could you cause swarms of earthquakes and endanger the last fresh water reserves underground for agriculture irrigation? And could you do that in a way that makes it impossible to clean up forever?

Thanks in advance!

 

[TooTall]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

Obama did everything in his power as President to stop the increase in oil production in the US and the oil companies outsmarted him. New oil leases on federal land is way down, the Keystone pipeline was stopped, off shore oil drilling was banned. If he could have done more, he would have.

 

[LoneLaugher]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

Obama did everything in his power as President to stop the increase in oil production in the US and the oil companies outsmarted him. New oil leases on federal land is way down, the Keystone pipeline was stopped, off shore oil drilling was banned. If he could have done more, he would have.

Bwahhhhhhaaaaahhhhhaaaaa!

 

[TooTall]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

Obama did everything in his power as President to stop the increase in oil production in the US and the oil companies outsmarted him. New oil leases on federal land is way down, the Keystone pipeline was stopped, off shore oil drilling was banned. If he could have done more, he would have.

Bwahhhhhhaaaaahhhhhaaaaa!

Number of drilling permits approved on federal land.

Last three years of the Bush Administration

2006-6738

2007-7124

2008-6617

Last three years of the Obama Administration

2011-4244

2012-4258

2013-3770

http://www.blm.gov/style/medialib/b...s.Par.65795.File.dat/numberofapdsapproved.pdf


Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas

WASHINGTON, D.C., November 8, 2011 - After imposing a nearly three-year moratorium on new offshore drilling by discarding the 2010-2015 lease plan that allowed for new development on the Outer Continental Shelf (OCS), the Obama Administration announced a draft plan today that closes the majority of the OCS to new energy production through 2017. The Administration’s draft five-year plan prohibits new offshore drilling and only allows lease sales to occur in areas that are already open. The draft plan includes lease sales in the Gulf of Mexico and the Arctic – leaving portions of Alaska and the entire Atlantic and Pacific Coasts off-limits to new energy production and job creation.


Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources


Keystone Pipeline

The Keystone XL proposal faces criticism fromenvironmentalistsand some members of theUnited States Congress. In January 2012, PresidentBarack Obamarejected the application amid protests about the pipeline's impact on Nebraska's environmentally sensitiveSand Hillsregion.TransCanada Corporationchanged the original proposed route of Keystone XL to minimize "disturbance of land, water resources and special areas"; the new route was approved by Nebraska GovernorDave Heinemanin January 2013.On April 18, 2014 the Obama administration announced that the review of the controversial Keystone XL oil pipeline has been extended indefinitely, pending the result of a legal challenge to a Nebraska pipeline siting law that could change the route. The challenge has been taken up by the State Supreme Court, making it unlikely that the case will be resolved before the November 4, 2014mid-term United States elections.

Keystone Pipeline - Wikipedia the free encyclopedia

Bwahhhhhhaaaaahhhhhaaaaa!

 

[KissMy]

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas

WASHINGTON, D.C., November 8, 2011 - After imposing a nearly three-year moratorium on new offshore drilling by discarding the 2010-2015 lease plan that allowed for new development on the Outer Continental Shelf (OCS), the Obama Administration announced a draft plan today that closes the majority of the OCS to new energy production through 2017. The Administration’s draft five-year plan prohibits new offshore drilling and only allows lease sales to occur in areas that are already open. The draft plan includes lease sales in the Gulf of Mexico and the Arctic – leaving portions of Alaska and the entire Atlantic and Pacific Coasts off-limits to new energy production and job creation.

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources

Your Dear Leader Bush signed EO-12777 in 1991 banning most of our offshore drilling for 20 years.

It wasn't until after Obama was elected that boundary setback regulations from previous administrations were lifted so fracking would flourish.

Obama "Fast Tracked" the lower Keystone Pipeline slashing the $30 crude oil price spread efficiently moving land locked oil to market.

 

[TooTall]

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas

WASHINGTON, D.C., November 8, 2011 - After imposing a nearly three-year moratorium on new offshore drilling by discarding the 2010-2015 lease plan that allowed for new development on the Outer Continental Shelf (OCS), the Obama Administration announced a draft plan today that closes the majority of the OCS to new energy production through 2017. The Administration’s draft five-year plan prohibits new offshore drilling and only allows lease sales to occur in areas that are already open. The draft plan includes lease sales in the Gulf of Mexico and the Arctic – leaving portions of Alaska and the entire Atlantic and Pacific Coasts off-limits to new energy production and job creation.

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources

Your Dear Leader Bush signed EO-12777 in 1991 banning most of our offshore drilling for 20 years.

It wasn't until after Obama was elected that boundary setback regulations from previous administrations were lifted so fracking would flourish.

Obama "Fast Tracked" the lower Keystone Pipeline slashing the $30 crude oil price spread efficiently moving land locked oil to market.

As you can see, you are wrong in both cases.

Tuesday, July 15, 2008

President Bush yesterday lifted a presidential ban on offshore oil drilling on the Outer Continental Shelf that was implemented by his father, escalating a confrontation with Democrats in Congress over how to cope with soaring gas prices.

Lifting the presidential moratorium has no immediate effect on exploration because Congress has enacted its own prohibitions on offshore drilling every year since the 1980s as part of the Interior Department's appropriations bill, and congressional Democrats yesterday vowed to do so again.
Bush Rescinds Father s Offshore Oil Ban

Despite a history that can be traced back to the 1940s, hydraulic fracturing had not been utilized on a massive scale until 2003, when energy companies began actively expanding natural gas exploration with an emphasis in shale formations in Texas, Pennsylvania, West Virginia, Wyoming, Utah and Maryland.

Expansion was aided by a landmark study conducted by the EPA in 2004 which found that hydraulic fracturing posed no threat to underground drinking water supplies. Shortly afterwards, hydraulic fracturing was exempted from the Safe Drinking Water Act by the Bush administration in theEnergy Policy Act of 2005.
A Brief History of Hydraulic Fracturing

 

[Rotagilla]

The u.s. could be energy independent....if the politicians wanted it to be.

 

[waltky]

Granny says, "Dat's right...

... Obama stood up to OPEC an' tol' `em...

... if dey didn't cut oil prices...

... he'd pull our troops out...

... an' let ISIS overrun `em."

 

[KissMy]

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas

WASHINGTON, D.C., November 8, 2011 - After imposing a nearly three-year moratorium on new offshore drilling by discarding the 2010-2015 lease plan that allowed for new development on the Outer Continental Shelf (OCS), the Obama Administration announced a draft plan today that closes the majority of the OCS to new energy production through 2017. The Administration’s draft five-year plan prohibits new offshore drilling and only allows lease sales to occur in areas that are already open. The draft plan includes lease sales in the Gulf of Mexico and the Arctic – leaving portions of Alaska and the entire Atlantic and Pacific Coasts off-limits to new energy production and job creation.

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources

Your Dear Leader Bush signed EO-12777 in 1991 banning most of our offshore drilling for 20 years.

It wasn't until after Obama was elected that boundary setback regulations from previous administrations were lifted so fracking would flourish.

Obama "Fast Tracked" the lower Keystone Pipeline slashing the $30 crude oil price spread efficiently moving land locked oil to market.

As you can see, you are wrong in both cases.

Tuesday, July 15, 2008

President Bush yesterday lifted a presidential ban on offshore oil drilling on the Outer Continental Shelf that was implemented by his father, escalating a confrontation with Democrats in Congress over how to cope with soaring gas prices.

Lifting the presidential moratorium has no immediate effect on exploration because Congress has enacted its own prohibitions on offshore drilling every year since the 1980s as part of the Interior Department's appropriations bill, and congressional Democrats yesterday vowed to do so again.
Bush Rescinds Father s Offshore Oil Ban

Despite a history that can be traced back to the 1940s, hydraulic fracturing had not been utilized on a massive scale until 2003, when energy companies began actively expanding natural gas exploration with an emphasis in shale formations in Texas, Pennsylvania, West Virginia, Wyoming, Utah and Maryland.

Expansion was aided by a landmark study conducted by the EPA in 2004 which found that hydraulic fracturing posed no threat to underground drinking water supplies. Shortly afterwards, hydraulic fracturing was exempted from the Safe Drinking Water Act by the Bush administration in theEnergy Policy Act of 2005.
A Brief History of Hydraulic Fracturing

Horizontal fracking new wells into tight oil shale was not profitable until boundary setbacks were removed under Obama's administration. That is why US oil production declined thought the entire Bush administration. Eco-Pad drilling exploded under Obama only because boundary setbacks were removed, reducing Bakken oil break even production price as low as $58/barrel. Then Obama "Fast Tracked" the lower Keystone Pipeline to efficiently get US land locked oil to market.

 

[TooTall]

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas

WASHINGTON, D.C., November 8, 2011 - After imposing a nearly three-year moratorium on new offshore drilling by discarding the 2010-2015 lease plan that allowed for new development on the Outer Continental Shelf (OCS), the Obama Administration announced a draft plan today that closes the majority of the OCS to new energy production through 2017. The Administration’s draft five-year plan prohibits new offshore drilling and only allows lease sales to occur in areas that are already open. The draft plan includes lease sales in the Gulf of Mexico and the Arctic – leaving portions of Alaska and the entire Atlantic and Pacific Coasts off-limits to new energy production and job creation.

Obama Administration Imposes Five-Year Drilling Ban on Majority of Offshore Areas - House Committee on Natural Resources

Your Dear Leader Bush signed EO-12777 in 1991 banning most of our offshore drilling for 20 years.

It wasn't until after Obama was elected that boundary setback regulations from previous administrations were lifted so fracking would flourish.

Obama "Fast Tracked" the lower Keystone Pipeline slashing the $30 crude oil price spread efficiently moving land locked oil to market.

As you can see, you are wrong in both cases.

Tuesday, July 15, 2008

President Bush yesterday lifted a presidential ban on offshore oil drilling on the Outer Continental Shelf that was implemented by his father, escalating a confrontation with Democrats in Congress over how to cope with soaring gas prices.

Lifting the presidential moratorium has no immediate effect on exploration because Congress has enacted its own prohibitions on offshore drilling every year since the 1980s as part of the Interior Department's appropriations bill, and congressional Democrats yesterday vowed to do so again.
Bush Rescinds Father s Offshore Oil Ban

Despite a history that can be traced back to the 1940s, hydraulic fracturing had not been utilized on a massive scale until 2003, when energy companies began actively expanding natural gas exploration with an emphasis in shale formations in Texas, Pennsylvania, West Virginia, Wyoming, Utah and Maryland.

Expansion was aided by a landmark study conducted by the EPA in 2004 which found that hydraulic fracturing posed no threat to underground drinking water supplies. Shortly afterwards, hydraulic fracturing was exempted from the Safe Drinking Water Act by the Bush administration in theEnergy Policy Act of 2005.
A Brief History of Hydraulic Fracturing

Horizontal fracking new wells into tight oil shale was not profitable until boundary setbacks were removed under Obama's administration. That is why US oil production declined thought the entire Bush administration. Eco-Pad drilling exploded under Obama only because boundary setbacks were removed, reducing Bakken oil break even production price as low as $58/barrel. Then Obama "Fast Tracked" the lower Keystone Pipeline to efficiently get US land locked oil to market.

One more time.

Despite a history that can be traced back to the 1940s, hydraulic fracturing had not been utilized on a massive scale until 2003, when energy companies began actively expanding natural gas exploration with an emphasis in shale formations in Texas, Pennsylvania, West Virginia, Wyoming, Utah and Maryland.

Expansion was aided by a landmark study conducted by the EPA in 2004 which found that hydraulic fracturing posed no threat to underground drinking water supplies. Shortly afterwards, hydraulic fracturing was exempted from the Safe Drinking Water Act by the Bush administration in theEnergy Policy Act of 2005.
A Brief History of Hydraulic Fracturing

 

[mudwhistle]

Too many different factors contribute to gas prices to blame one cause.

A couple of reasons is demand is way down and refineries are switching back to cheaper Winter grades. It does seem a bit strange that this is happening right before an election.

How convenient.

 

[Vigilante]

Not to mention ISIS selling on the black market millions of barrels of oil, heavily discounted, since they've captured large sectors of Iraq's oil fields!