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How North Dakota Became Saudi Arabia


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How North Dakota Became Saudi Arabia

Harold Hamm, discoverer of the Bakken fields of the northern Great Plains, on America's oil future and why OPEC's days are numbered.

Today OPEC's market share is falling and no longer dictates the world price. This is huge, Mr. Hamm says. "Finally we have an opportunity to go out and explore for oil and drill without fear of price collapse." When OPEC was at its peak in the 1990s, the U.S. imported about two-thirds of its oil. Now we import less than half of it, and about 40% of what we do import comes from Mexico and Canada. That's why Mr. Hamm thinks North America can achieve oil independence

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Bruce

2023 Cadillac CT4-V Blackwing

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I'm in Harold's corner. Our economy has been held hostage by OPEC far too long.

And the federales have been held hostage by the climate change - green economy - snail darter environmental gloom and doom terrorists for long enough. Their 15 minutes is over.

Several major steps toward energy independance are available to the next administration and the next congress.

One: Fast track approval for drilling permits in the Bakken fields.

Two: Likewise the Keystone XL pipeline from Alberta to the Gulf coast refineries.

Three: Castrate the EPA. It's been 25 years since a new refinery was built in the US.

YOUR opportunity to affect these policies is only 13 months away.

Jim

Drive your car.

Use your cell phone.

CHOOSE ONE !

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Three: Castrate the EPA. It's been 25 years since a new refinery was built in the US.

. . . YOUR opportunity to affect these policies is only 13 months away.

It looks like the EPA is gonna need 230,000 new employees to enforce all its regulations.

"EPA studied and considered the breadth and depth of the projected administrative burdens in the Tailoring Rule. There, EPA explained that immediately applying the literal PSD statutory threshold of 100/250 tpy (tons per year) to greenhouse gas emissions, when coupled with the "any increase" trigger for modifications…
would result in annual PSD permit applications submitted to State and local permitting agencies to increase nationwide from 280 to over 81,000 per year, a 300-fold increase…
Following a comprehensive analysis, EPA estimated that these additional PSD permit applications would require State permitting authorities to add 10,000 full-time employees and incur additional costs of $1.5 billion per year just to process these applications, a 130-fold increase in the costs to States of administering the PSD program….
Sources needing operating permits would jump from 14,700 to 6.1 million as a result of application of Title V to greenhouse gases, a 400-fold increase.…Hiring the 230,000 full-time employees necessary to produce the 1.4 billion work hours required to address the actual increase in permitting functions would result in an increase in Title V administration costs of $21 billion per year.
[bold added.]"

EPA Calls Compliance with Own Law "Absurd or Impossible" and Requests 230k New Employees

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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises

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