GREAT AGAIN: Unlike Obama, Trump doesn’t bow to Saudi king

I was there when King Ibn Saud died in 1952 and he banned slavery at his death with a ten year window for those slaves who wanted to stay with their masters and earn money towards their freedom. I know that Haji are often amazed that there is NO racism in Mecca.

 

The Federal Reserve are right wing partisans? Who knew?

 

Which has nothing to do with the point.

 

Sounds like just a great guy. So these slaves that are staying with their masters to earn money for their freedom, when the master's feeling horny, he pretty much has free run of them?

 

He inherited it from GWB.

That is because the oil price today is around 50 bucks a barrel.
It used to be above a 100 bucks a barrel, when ppl started to do fracking.
The oil companies in the US went bust with billions in debt when the price crashed to 30 bucks.

OPEC killed the fracking industry. Not the other way around.

 

Got it. Fracking is dead, OPEC killed it, and the following is just Fracking's Dead Zombie Twitch:

Feb 3, 2017 - For the third week in a row, the US oil rig count rose dramatically (up 15 to 583 - the highest since October 2015). This is the biggest 3-week surge in rig counts since April 2013... (the biggest 3-week percentage gain since Nov 2009)

OK!

 

price 100 bucks: fracking happy thing.
price 30 bucks: fracking dead, yo. leaving billions in debts behind.
price 50 bucks: more old rigs again.


Exactly what do you not understand about the entire concept of supply and demand? Because it looks like you're claiming this is da miracle of Trump almighty. While in fact it's OPEC that controls the supply, and so the price, and so making fracking possible or not.

 

Trump bows only to the Jews.

 

Like a couple of Atomic bombs wasn't enough for you?

 

A BILLION HERE AND A BILLION THERE… OPEC Lost $76 Billion Last Year Due To US Fracking.

 

shhhhhhh you might wake him up.

 

So. We are no longer being assured by the anti-Trumpers that he is a Nazi?

 

STILL NOT TIRED OF WINNING: American Oil and Gas Surge to New Highs.

Shale companies are using hydraulic fracturing to harness a flood of new supplies of hydrocarbons. On the oil side of things, American production has surged from 8.5 million barrels per day (bpd) in October to nearly 9.3 million bpd today—a nearly 10 percent jump in just six months. As the EIA reports, much of that growth is being fueled by west Texas’s Permian Basin. . . .

The last U.S. Geological Survey estimate pegged the Permian Basin’s riches at potentially more than 20 billion barrels of oil and 16 trillion cubic feet (tcf) of natural gas—a veritable bounty. That shale formation is the undisputed engine of this newest shale renaissance.

This oil rebound has come about as a result of OPEC & co.’s decision to cut output to help push prices back up—a move that has helped shale producers as much (if not more) than it has assisted those petrostates.

But natural gas output is surging as well, perhaps a more remarkable feat considering that American production of that hydrocarbon hasn’t suffered as much (though it has declined slightly) as a result of falling global prices. Even in the midst of this natural gas surge, new EIA data shows that natural gas production in the continental U.S. had its biggest monthly increase in February in almost three years. . . .

U.S. shale still produces only a fraction of global oil and gas output, but that fraction is large enough—and has come on the scene quickly enough—to push supply past demand and help keep energy prices relatively low. At the same time, it’s given America more foreign policy options by bolstering our domestic energy security, and changing the tenor of the U.S. energy debate from one focused on scarcity to today’s paradigm of abundance.

 

Your source says OPEC made a profit. A massive profit of 100's of billions of dollars. It was just less than before. Franking companies went bankrupt with billions in debts unpaid. Do you understand this?

 

That's all we had at the time.

 

Trump bowed and even got a little gold bling-bling.

 

What ever Blitz or the dyke says, it has to be true.

 

You need to step outside of your right-wing bubble.

Here's video proof of Trumpy bowing for his bling-bling.

 

Well, investing in hot dogs isn't a sure thing. Hopefully they priced this exposure well when they agreed to put their money at risk.

Fracking could fuel Alaska’s next oil boom.

 

Looks more like Trump is stooping not bowing.

You seem to be easily indoctrinated KAMALAYKA. Do you also refer to an AR-15 as an assault rifle ?

 

First you called it fake news. Now that I show you footage, you want to argue the technical differences of a stoop versus a bow--which totally misses the point.

 

I just want to thank everyone who posted on this thread. I had a really stressful day and reading this...wow...I haven't laughed so hard in a very, very long time. THANK YOU!

 

Petty is as petty does.

 

yeah, guess another flip flop

 

Well, they did until we broke OPEC.

North American Strategic Energy Adds Diplomatic Clout

Sophisticated American and Canadian energy industries have given the Free World an economic boost and a powerful diplomatic weapon.

The North American "fracking" revolution -- hydraulic fracturing to tap vast reservoirs of "tight" natural gas and oil -- has altered the world's strategic calculus.

The development of fields in North Dakota and Texas helped develop techniques, technology and expertise. Fracking has opened previously untapped reservoirs. Frackers use improved drilling and production techniques to exploit existing fields. Information technology helps energy companies identify new oil and gas reservoirs and reduce the risks of "wildcat" oil and gas exploration.

Today, the U.S. is less dependent on foreign oil imports. Daily U.S. imports have declined, from around ten million barrels to seven million. The U.S. is now exporting energy to select markets.

The economic boon is obvious. So is the diplomatic clout.

The U.S. and Canada supplanted OPEC as the world's oil price pacesetters.

Now OPEC is struggling. Since the end of April, Saudi Arabia has called for the extension of OPEC's November 2016 oil production quotas. That deal was supposed to curb an oil supply glut by taking 1.2 million barrels a day off the market.

OPEC couldn't do it. In the past oil gluts have forced U.S. frackers to shutter expensive operations. Then OPEC could raise prices. However, U.S. fracking costs have dropped. As the glut continues, frackers are demonstrating they can adapt to lower oil prices.

Riyadh's recent lobbying has had little effect on markets. In some cases it has encountered quiet political resistance. Cash-strapped OPEC members need money now.

Several OPEC producers face internal crises that their governments believe justifies exceeding production limits. Iraq needs money to finance its war with the Islamic State. It also needs money to finance new transportation and energy-sector infrastructure.

Several non-OPEC oil exporters verbally support cartel quotas but routinely exceed production limits. For example, Russia needs cash. Oil and natural gas are the Kremlin's cash crops.

They are also Russian weapons. When his forces invaded Ukraine in 2014, Russian president Vladimir Putin believed he could dissect eastern Ukraine at little cost because European economies rely on Russian natural gas. If eastern European nations didn't capitulate to his demands, he would strangle their economies.

Poland understood the threat. The Polish government built seaport facilities to handle tankers carrying liquefied natural gas and began lobbying Washington to build new LNG export facilities to transport "fracked" U.S. gas to Poland.

As for the long term, low oil prices mean the Kremlin has less money to spend on war and weapons.

At one time Tehran could shake global oil markets by threatening to close the Strait of Hormuz, the sea lane connecting the Persian Gulf and the Indian Ocean. That gambit is no longer quite as menacing. Moreover, lower oil prices weaken Iran's religious dictatorship. They have less money for nuclear weapons and training terrorists.

Fracking and other advanced techniques have changed the ways many analysts calculate oil and gas reserves. The subject stirs intense debate. North America may have enormous reserves. 36 billion barrels is an accepted figure for current U.S. oil reserves. However, in July 2016, an independent study by Norway's Rystad Energy estimated the U.S. has 264 billion barrels in recoverable oil. Saudi Arabia has around 212 billion and Russia 256 billion.

Astonishing numbers, but other estimates are even more astonishing. Canada may have 2.7 trillion barrels in shale formations, and the U.S. two trillion.

https://strategypage.com/on_point/20170523232530.aspx