Democrat candidates causing a fracking boom on public lands with their threat to stop it

Oil Price:
Eyeing more restrictions on drilling following the 2020 presidential election, some U.S. oil and gas companies may accelerate fracking on public lands over the next year.

Concho Resources said that in order to mitigate risk from a potential ban on fracking in 2021, the company is running rigs on its federal acreage now.

The comment comes in light of the relatively strong rise of Massachusetts Senator Elizabeth Warren, who is arguably the front runner, or at least in the top tier. Vermont Senator Bernie Sanders has trailed a bit, although a new poll from New Hampshire has him in first place there. Former Vice President Joe Biden, who offers up a more industry-friendly approach to energy and climate change, has slid in the polls. He is still considered among the top tier, but his fundraising has been anemic, his performance halting and unconvincing, and his momentum heading in the wrong direction.

Senators Bernie Sanders and Elizabeth Warren have both promised to ban hydraulic fracturing. As president, neither would be able to outright ban the practice entirely, as it would require an act of Congress. But their ability to disrupt the use of fracking on federal lands would be much greater.

“‘If Sen. Warren were to win…’ was getting a lot of airtime in our meetings,” Jake Roberts, an exploration-and-production analyst at Houston’s Tudor, Pickering, Holt & Co., told the Wall Street Journal recently. “We were surprised to see people taking it so seriously.”
...
Joe Biden has also threatened to halt fracking on public lands.  This is one of the more nonsensical promises the Democrats have made.  It is part of their war on the Texas economy, although there is very little federal land in Texas, companies from Texas are active on some federal land.  It would put thousands out of work depress the economy as a whole and likely led to a housing recession too as people would likely lose their houses.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more