Jan. 7 (Bloomberg) -- The top Republican (click here) on the Senate Energy Committee urged President Barack Obama
to end a 39-year ban on exports of U.S. crude oil, joining what is
shaping up as an major election-year debate over energy policy....
It is counter to every scientific finding and disregards human life on Earth. Those calling for it's completion are Anti-American while disregarding the findings of American scientists. It doesn't get more Anti-American than that. If American scientists can't deliver profits to the petroleum industry then they are not needed.
There is a great deal at stake and it has nothing to do with about American's needs either in energy or jobs. It even assaults the sovereign state of the country.
It is about exporting the dirtiest fuel on the planet in desperation of the
petroleum industry, a long standing crony to Republicans.
Americans believe oil subsides are only domestic, but, the truth is the petroleum industry receives subsides from nearly every Western nation.
The result is a dilemma for emerging market governments. Either they allow fuel costs to rise, stoking inflation and discouraging consumption, or they absorb higher prices through subsidies, heaping further pressure on already-strained budgets.
“Falling currencies and higher oil import costs are testing energy-intensive patterns of growth across emerging markets,” said Amrita Sen, head of the Energy Aspects consultancy.
Many developing economies have become major importers of crude oil over the past decade as their economies have industrialised. That has helped keep oil prices above $100 a barrel even as greater fuel efficiency has helped erode demand in the US and Europe.
But as their currencies weaken, emerging market governments may struggle to maintain high levels of imports.
Rather than developing alternative sources and subsidizing those needs, the petroleum industry demands cheaper oil prices for Wall Street.
Americans' national debt increase for petroleum subsidies to feed the Wall Street wealth chain.
Democrats are not as aggressive as they should be on oil subsidies in the upcoming elections.
...But the American people might be on to something. In a poll conducted for NBC and the Wall Street Journal,
three-quarters of respondents favored "eliminating tax credits for the
oil and gas industries." Specifically, 47 percent said they found such
cuts "totally acceptable" and 27 percent said they found it "mostly
acceptable."...
Subsidies are currently $41 billion in the USA national budget. The subsidies have nothing to do with the use of energy in the USA and encourage dirty fuel projects like the Keystone project.
When are the American people going to end the purchase of their government?
Election Cycle 2014
Petroleum Money
Total - $12,489,910
Donations to Democrats
$1,598,.653 - 13%
Donations to Republicans
$10,520.317 - 87%
Senator Lisa Murkowski's second largest donor behind Electric Utilities was the Oil and Gas Industry. She received $666,998 for her re-election campaign. You bet she is going to be on the Senate floor demanding DEREGULATION. She is bought and paid for.
Currently, the USA is already exporting oil. It is on a case by case basis, which it should be. The deregulation and pipeline issues are nothing more than political wedge issues without sound principles or morality.
Tuesday, Feb 04, 2014
...The US Department of Commerce (click here) has granted two licences to export US crude to the UK since last year and another two to Italy, according to data Reuters obtained through a Freedom of Information Act request.
One application for German exports was filed in January and is awaiting a decision by the Bureau of Industry and Security (BIS), which is responsible for reviewing requests to export crude under a 1975 law that bans most shipments with a few exceptions, including sales to Canada and re-export of foreign oil....
The Mideast wants to throw their high risk to the USA rather than sell to emerging markets. Basically, Mideast Oil will use the USA to provide oil to all the riskiest customers. The USA will be getting dumped on.
...The US is set to overtake Russia this year to become the world’s second largest producer of oil, according to the International Energy Agency (IEA). To date, the US’s reduced appetite for imported oil has been countered by growing demand from emerging markets.
With the emerging economies slowing, however, demand from these markets too is likely to slacken in the short term. With a greater share of exports now being sent to these economies, Middle Eastern oil producers are also exposed to the risk of emerging market slowdown....
Lifting the export ban is not necessary, the USA exports to countries that apply and to remove the ban only increases the risk to the USA and turns oil exports into Trade Deficits. I never thought I'd see the day when the USA trade balance would allow charity rather than commerce.
Eliminating the ban will increase risk rather than opportunity to the USA.
...The IMF sees potential fiscal deficits in all oil exporting countries, including some of the Gulf countries from the region except Kuwait and the UAE by 2015 in the absence of a fiscal policy adjustment. Even a smaller decline in oil prices under plausible scenarios of slower growth in emerging markets would have a material effect on oil prices and fiscal balances of GCC oil exporters, the IMF said in its latest regional economic outlook....
Why go there? It is not fiscally responsible and is a global environmental disaster. American oil exports without the ban would cause greater problems for other nations, not less.
The VERY BEST that can happen for emerging markets is to start them on alternative sources of energy. If China has too many solar panels I suggest they export them to emerging economies to assist their trade deficit, increase their incomes and assist nations similar to theirs to start the economies with responsible energy.
China's assistance with alternative sources of energy to these markets would also mitigate the political corruption in the USA.
It is counter to every scientific finding and disregards human life on Earth. Those calling for it's completion are Anti-American while disregarding the findings of American scientists. It doesn't get more Anti-American than that. If American scientists can't deliver profits to the petroleum industry then they are not needed.
There is a great deal at stake and it has nothing to do with about American's needs either in energy or jobs. It even assaults the sovereign state of the country.
It is about exporting the dirtiest fuel on the planet in desperation of the
Americans believe oil subsides are only domestic, but, the truth is the petroleum industry receives subsides from nearly every Western nation.
Wall Street insists on the subsidies to develop other nations that use oil as their primary energy source. This pipeline and every other for that matter, has absolutely nothing to do with Americans.
February 2, 2014 4:25 pm
Governments in emerging markets face fuel subsidy dilemma(click here)The result is a dilemma for emerging market governments. Either they allow fuel costs to rise, stoking inflation and discouraging consumption, or they absorb higher prices through subsidies, heaping further pressure on already-strained budgets.
“Falling currencies and higher oil import costs are testing energy-intensive patterns of growth across emerging markets,” said Amrita Sen, head of the Energy Aspects consultancy.
Many developing economies have become major importers of crude oil over the past decade as their economies have industrialised. That has helped keep oil prices above $100 a barrel even as greater fuel efficiency has helped erode demand in the US and Europe.
But as their currencies weaken, emerging market governments may struggle to maintain high levels of imports.
Rather than developing alternative sources and subsidizing those needs, the petroleum industry demands cheaper oil prices for Wall Street.
Americans' national debt increase for petroleum subsidies to feed the Wall Street wealth chain.
Democrats are not as aggressive as they should be on oil subsidies in the upcoming elections.
Subsidies are currently $41 billion in the USA national budget. The subsidies have nothing to do with the use of energy in the USA and encourage dirty fuel projects like the Keystone project.
Election Cycle 2014
Petroleum Money
Total - $12,489,910
Donations to Democrats
$1,598,.653 - 13%
Donations to Republicans
$10,520.317 - 87%
Senator Lisa Murkowski's second largest donor behind Electric Utilities was the Oil and Gas Industry. She received $666,998 for her re-election campaign. You bet she is going to be on the Senate floor demanding DEREGULATION. She is bought and paid for.
Currently, the USA is already exporting oil. It is on a case by case basis, which it should be. The deregulation and pipeline issues are nothing more than political wedge issues without sound principles or morality.
Tuesday, Feb 04, 2014
...The US Department of Commerce (click here) has granted two licences to export US crude to the UK since last year and another two to Italy, according to data Reuters obtained through a Freedom of Information Act request.
One application for German exports was filed in January and is awaiting a decision by the Bureau of Industry and Security (BIS), which is responsible for reviewing requests to export crude under a 1975 law that bans most shipments with a few exceptions, including sales to Canada and re-export of foreign oil....
The Mideast wants to throw their high risk to the USA rather than sell to emerging markets. Basically, Mideast Oil will use the USA to provide oil to all the riskiest customers. The USA will be getting dumped on.
...The US is set to overtake Russia this year to become the world’s second largest producer of oil, according to the International Energy Agency (IEA). To date, the US’s reduced appetite for imported oil has been countered by growing demand from emerging markets.
With the emerging economies slowing, however, demand from these markets too is likely to slacken in the short term. With a greater share of exports now being sent to these economies, Middle Eastern oil producers are also exposed to the risk of emerging market slowdown....
Lifting the export ban is not necessary, the USA exports to countries that apply and to remove the ban only increases the risk to the USA and turns oil exports into Trade Deficits. I never thought I'd see the day when the USA trade balance would allow charity rather than commerce.
Eliminating the ban will increase risk rather than opportunity to the USA.
...The IMF sees potential fiscal deficits in all oil exporting countries, including some of the Gulf countries from the region except Kuwait and the UAE by 2015 in the absence of a fiscal policy adjustment. Even a smaller decline in oil prices under plausible scenarios of slower growth in emerging markets would have a material effect on oil prices and fiscal balances of GCC oil exporters, the IMF said in its latest regional economic outlook....
Why go there? It is not fiscally responsible and is a global environmental disaster. American oil exports without the ban would cause greater problems for other nations, not less.
The VERY BEST that can happen for emerging markets is to start them on alternative sources of energy. If China has too many solar panels I suggest they export them to emerging economies to assist their trade deficit, increase their incomes and assist nations similar to theirs to start the economies with responsible energy.
China's assistance with alternative sources of energy to these markets would also mitigate the political corruption in the USA.
