“Cutting production in 2016 is much more dangerous to OPEC ‘s market share than the Arab Embargo of 1973. …. Today, the United States has massive reserves of oil and gas that will be, not might be, produced at the right price point.”
On October 17, 1973, the Organization of Petroleum Exporting Countries agreed to a five percent production cut from the previous month’s levels. They intended this strategy not solely for increasing their oil revenue but to punish the United States for its support of Israel in the Yom Kippur War. This production cut increased the price of oil dramatically and led to oil discoveries around the world including massive plays in Alaska, Mexico, and the North Sea.
Those three regions alone added approximately 6 million bbls/day to the world oil supply in the next seven years following the embargo.…
Continue Reading“Georgia’s oil pipelines and high voltage systems were developed through market relationships. Extend the market, not the monopoly!”
Back in 2012 Georgia Solar Utilities filed a petition with the Georgia Public Service Commission (PSC) asking to be granted all of the rights and privileges given to Georgia Power, a subsidiary of Southern Company. The PSC punted the issue to the General Assembly. Since then the same sorts of schemes popped up in other states where green developers seek rights to sell green power directly to end-users.
These “rights” included access to and use of the transmission and distribution systems within the state and access to capital at the same rates as obtained by Georgia Power. The solar developer even wanted to have existing electric distributors use their billing systems to collect from its retail customers.…
Continue Reading“Rachel Carson’s Silent Spring was the impetus for the modern environmental movement dating back to the early 1960s…. It is beyond ironic that some 50 years later, the environmental movement has come full circle in its zeal to support wind energy whose 500 foot tall towers support (occasionally) whirring blades that have done untold harm to avian populations throughout rural America.”
– Sen. Bill Seitz (letter below)
Ohio Senator Bill Seitz defends fairness over favors. More like him are needed at all levels of government. May Ohio Governor John Kasich et al. reconsider energy policy with pointers from the likes of Senator Seitz.
Of sharp mind and with tell-it-like-it-is prose, Sen. Seitz recently weighed in on the offshore wind proposal for Lake Erie, the subject of two recent posts (here and here at MasterResource).…
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