• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 20 mins Tidal Power Closer to Commercialisation
  • 2 hours US-backed coup in Venezuela not so smooth
  • 7 hours Oil-sands recovery by solvents has started on a trial basis; first loads now shipped.
  • 50 mins Read: OPEC THREATENED TO KILL US SHALE
  • 7 hours New Rebate For EVs in Canada
  • 3 hours Solar to Become World's Largest Power Source by 2050
  • 15 hours Why U.S. Growers Are Betting The Farm On Soybeans Amid China Trade War
  • 22 hours Fisker Announces 'Mass Market' Electric SUV
  • 6 hours Oil stocks are heating up again! What's on your Watchlist?
  • 5 hours Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 10 hours Malaysia Oil & Gas Updates
  • 11 hours Biomass, Ethanol No Longer Green
Global Intelligence Report – 13th March 2019

Global Intelligence Report – 13th March 2019

While the NOPEC legislation has…

The IEA’s Search For A New Narrative Of Doom

The IEA’s Search For A New Narrative Of Doom

Despite the radical transitions facing…

Despite the Current Oil & Gas Boom, the Obama Administration Deserves No Credit

“The one person who deserves no credit for this [oil and gas] boom is Barack Obama.  In fact, this Administration has bent over backwards to make oil and gas production and exploration as difficult as possible. According to the Institute for Energy Research (IER), the Obama Administration has been issuing BLM oil and gas leases at the lowest pace of any president in the last 30 years  – in fact at half the rate of the Clinton White House and 80% slower than in the Reagan era, dragging their feet to please the environmental lobby (see top chart above).

Annual leases issued

Natural gas production

From Warren Meyer in Forbes (ht/Morganovich):

By comparing oil and gas production on Federal vs. state and private lands, we can get a true read on this Administration’s energy policy. Since Obama took office, according to the Institute for Energy Research, oil production has fallen precipitously on Federal onshore and offshore leases, while it has increased by an even larger amount on state and private lands largely outside of this Administration’s reach. The only reason total oil [and gas] production has increased since Obama took office is because private companies on state and private lands have increased production enough to offset the large drop that has occurred in Obama-controlled producing regions. Obama’s taking credit for the current oil and gas boom ranks up there in the pantheon of great political whoppers right next to Al Gore’s invention of the Internet.”

MP: The bottom chart above shows that the share of total natural gas production taking place on federally administered land fell to 20% in 2010, the lowest share in at least 35 years.

By. Mark J. Perry of http://mjperry.blogspot.com/

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News