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US closer to lifting 40-year ban on oil and natural gas exports; bill needs Senate floor vote

Tuesday, August 4th 2015 - 18:40 UTC
Full article 19 comments

The United States is closer to begin exporting oil. The Senate Energy Committee passed a bill last week that would lift a decades-old ban on the export of crude oil. The 22-member panel approved the initiative to allow the US to export oil and boost state revenue-sharing for offshore oil and gas drilling by a vote of 12-10. Read full article

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  • yankeeboy

    I told you 2-3 years ago this would happen
    and it will be a game changer to the world

    bye bye Venezuela, Russia
    bye bye

    Aug 04th, 2015 - 07:21 pm - Link - Report abuse 0
  • ilsen

    @1
    I recall your comments regarding the coming US energy independence. Hopefully soon you will be able to get out of bed with the House of Saud.

    Aug 04th, 2015 - 08:12 pm - Link - Report abuse 0
  • Brasileiro

    Too late for that. The shale oil is not an advisable option. The water in the United States is rarer than oil. In other words, this is a nationwide suicide to continue to provide unacceptable profits to the companies of shale oil.

    USA is the democracy of donkeys.

    Aug 04th, 2015 - 08:37 pm - Link - Report abuse 0
  • yankeeboy

    2. As you probably are aware I hate Obama but I think inadvertently he's done a good thing in the Mid East I want them all to go back chopping each others heads off over land and water. Let those horrible dictators spend all their $ trying to keep control rather than spending it on terror. Then we just have to contain it.

    Aug 04th, 2015 - 09:00 pm - Link - Report abuse 0
  • Brasileiro

    Do you mix everything in a blender?

    The alternatives are put on the table, and the next generations depend on what we do now.

    Aug 04th, 2015 - 09:12 pm - Link - Report abuse 0
  • Voice

    Ermm...I'm not being funny, but if the Middle East can produce oil at half the cost of the US....
    Just exactly how are they going to compete....Sell at a loss or break even...?

    Aug 04th, 2015 - 11:27 pm - Link - Report abuse 0
  • yankeeboy

    Its about refining capacity and that the Usa has 300+yrs of proven nat gas reserves. We will be Europe's largest supplier as soon as the ports and lng refineries are done.
    Oil is seconday to nat gas.
    Theres so much oil around it's ridiculous.
    Its going into the $20s.
    Which should destroy Venezuela Russia and the mid east economies. May even make Norway rethink immigration.
    Lots of changes coming.
    All good for the usa.
    As I said 3yrs ago.
    :).

    Aug 05th, 2015 - 12:51 am - Link - Report abuse 0
  • MCDONALD

    2016 commit we be holding the oil.
    and developed ways to crack it so you can use it.
    we shall wait.

    Aug 05th, 2015 - 04:17 am - Link - Report abuse 0
  • ilsen

    @8
    Is that you, Brasileiro?
    :-)

    Aug 05th, 2015 - 11:59 am - Link - Report abuse 0
  • bushpilot

    @3 Bras

    “Water is rare in the U.S.”

    In other words,

    “Profits to shale oil companies is are at unacceptable levels”

    The above two sentences are synonomous? I'm not seeing the connection.

    Water is currently rare in California, that is not nationwide, so that could not lead to nationwide suicide. The major shale oil fields are not near California.

    What amount of profit are the shale oil companies earning that it is “unacceptable”? Do you know this figure? Where did you get it from? Your statement about “unacceptable profit levels” is way too vague to have any substance. Can you clarify it further?

    oo late for that. The shale oil is not an advisable option. The water in the United States is rarer than oil. In other words, this is a nationwide suicide to continue to provide unacceptable profits to the companies of shale oil.

    USA is the democracy of donkeys.

    Aug 05th, 2015 - 01:02 pm - Link - Report abuse 0
  • Skip

    Voice

    I agree, no one can compete with the cost that places like Saudi Arabia can pump at. However depending on how long the low price last it will start to eat into their reserves of cash as Saudi Arabia's economy is a one trick pony. Oil is a lot less important to the US economy but low prices will decimate its industry so that it will eventually need to rebuild sometime in the future when prices rise again.

    That will probably happen when Saudi Arabia feels it can no longer bear the low prices and erosion of its cash reserves. So funnily enough the US oil industry will take off again when Saudi Arabia's economy does.

    So Yankeeboy's predictions about the US becoming some sort of hyper power while the Middle East descends into some sort of anarchy is highly unlikely.

    Aug 05th, 2015 - 01:04 pm - Link - Report abuse 0
  • yankeeboy

    It is in the USA's interest to secure and promote North American energy. Through tax policy, subsidies etc we can promote the industry no matter what the $/bbl is.

    No single country or blocks of countries can beat the USA in anything we want to accomplish. We are the only country in the world with the capital and people that can achieve whatever we want.

    BTW the Saudis will have a hard time holding onto power under U$30/bbl. They will be fighting in many countries in the Mid East to keep Iran at bay and they will have to use their reserves to keep their lazy population fed and clothed.

    Remember I was the ONLY one saying this 2-3yrs ago.
    The only one.
    Watch and see.

    Aug 05th, 2015 - 02:21 pm - Link - Report abuse 0
  • Voice

    “Remember I was the ONLY one saying this 2-3yrs ago.”

    Oh no he wasn't....
    I mentioned many moons ago that the Scottish Refinery were wanting matching investment from the Gov to be able to import gas from the US when they were ready...
    Can I now bask in a warm glow of self praise, because I also happen to read the news....?
    I was the only one.....;-))))
    Let me try and work out how the US might become an exporter of gas....because they have a lot of it perhaps.....amazing....

    Aug 05th, 2015 - 04:29 pm - Link - Report abuse 0
  • yankeeboy

    I am talking about USA fracking changing the world dynamics. Not some stupid refinery nobody's ever heard about.
    Gads you have a small mind.

    Aug 05th, 2015 - 04:58 pm - Link - Report abuse 0
  • Klingon

    @14 Yankeeboy, watch out you have a fly buzzing around your testicles, his name is Voice ;)

    Aug 05th, 2015 - 10:24 pm - Link - Report abuse 0
  • ilsen

    No one takes any notice of Voice. He always tries to make it all about him.

    Ignore.

    Aug 05th, 2015 - 11:44 pm - Link - Report abuse 0
  • Voice

    How's your Spanish... Klingon...?
    Oh yeah that's right...you don't speak any...
    Give us a sample...
    Go on...
    Thought not....

    Mercy me Yankeeboy does that nobody's heard about include most of the UK that have heard of Grangemouth...? How many million is that...?
    Apparently they anticipated US export of gas before you and it would seem before the US has even voted on it....
    Though I wouldn't expect a nobody like yourself to be aware of these things.....

    Ilsen when I die...you die....it's that simple.

    Aug 05th, 2015 - 11:54 pm - Link - Report abuse 0
  • Klingon

    http://www.smh.com.au/business/comment-and-analysis/saudi-arabia-may-go-broke-before-the-us-oil-industry-buckles-20150805-gism05.html

    Aug 06th, 2015 - 12:24 am - Link - Report abuse 0
  • yankeeboy

    17. Gad you are think and so small minded. I am not talking about 1 refinery somewhere I have been talking about FOR THE LAST 3 YEARS about USA Shale Oil/Gas changing the world.
    I was the only one ON THIS BOARD talking about it while other scoffed.
    Others meaning you and the rest of the numbskulls who never believe me on this site.

    Aug 06th, 2015 - 07:56 am - Link - Report abuse 0

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