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The U.S. boasts the most creative and efficient oil industry in the world, Robert Bryce writes -...

The U.S. boasts the most creative and efficient oil industry in the world, Robert Bryce writes - why doesn't Pres. Obama get it? While the U.S. share of global oil reserves is just 2.2%, it produces 9% of the world’s oil. Obama dares not admit the oil-and-gas sector has out-innovated his green energy darlings; the wave of new natural gas production is pricing wind and solar out of the market.
Comments (16)
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    It's actually quite simple, Obama and the NWO crowd aren't interested in US exceptionalism or in US success. To reduce the power of the US makes it simply a bit player in the "collective". And that is their objective, the integration of the US into the global world.
    26 Apr 2012, 11:36 AM Reply Like
  • Trader Monk
    , contributor
    Comments (130) | Send Message
     
    WM..Looks like you got him figured out!
    26 Apr 2012, 11:45 AM Reply Like
  • lindsay lopez
    , contributor
    Comments (40) | Send Message
     
    One World Govt......black helicopters.....must get help.
    26 Apr 2012, 12:21 PM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    Unfortunately....it's too late.
    26 Apr 2012, 12:32 PM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    Don't be a sheep MARK. The gov spends ~12 billion of our tax dollars each year on subsidizing the oil industry, that discounts coal. And about a third of that on renewable energy year of which most goes to ethanol which we know is a farce.

     

    Bryce needs to understand this great "innovation" of the oil sector is sponsored by tax payers.

     

    http://bit.ly/JC09TR
    26 Apr 2012, 11:46 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    dog,

     

    If our government spends so much subsidizing the oil industry, why are the foreign oil companies more profitable?
    26 Apr 2012, 01:08 PM Reply Like
  • bilboburgler
    , contributor
    Comments (4) | Send Message
     
    The most oil, but I don't have another planet to move to....
    26 Apr 2012, 11:47 AM Reply Like
  • patmann03
    , contributor
    Comments (26) | Send Message
     
    True, it may be out pricing solar and wind energy, but it is only for the short term! It is a fossil fuel that will run out at some point and it is damaging to the environment.
    26 Apr 2012, 11:48 AM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    It's not true patmann, the innovation is coming from the billions of taxpayer dollars every year. We subsidize the oil industry more than all renewable energy forms combined.
    26 Apr 2012, 11:51 AM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    patman.....my problem with your comment is I have never read anything on how much oil the earth is creating every year. Certainly we haven't stopped that process. Maybe the "global warming" even accelerates it?

     

    It's kinda like people complaining about using water. We live in a closed system. We have all the water there is and all there ever will be. When I flush the toilet, it doesn't make the water disappear. It just goes somewhere for a while, then comes back later in the form of rain. Now I do understand that the human body is composed primarily of water, so I guess the more people that there are, the more water is "sequestered" in bodies and is unavailable for toilet flushes. ( a little levity for your day )
    26 Apr 2012, 11:53 AM Reply Like
  • tony95
    , contributor
    Comments (3) | Send Message
     
    Comparing burning oil to flushing water is a bit of a stretch. My understanding is that oil can be created in 2 ways. Either from plants or from decaying fossil material. So, at some point we are going to need more options.

     

    Secondly, the idea that we are subsidizing oil companies is more than overblown. They take the same business deductions that any other company would take for business expenses. Seems like people on a site dedicated to markets would know these things.
    26 Apr 2012, 12:17 PM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    Tony you are wrong. Outside of the foreign tax credit each subsidy is oil and gas specific. NO OTHER BUSINESS CAN CLAIM THOSE TYPES OF DEDUCTIONS.
    26 Apr 2012, 12:34 PM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    Actually, it's quite interesting. There is a direct correlation between burning fossil fuels and production of CO2 greenhouse gasses, which have significantly increased the production of plant life, notably crop yields and production. So the point is with higher greenhouse gasses, plant production goes up. So the next question is still, how long does it take to recycle through the natural process of decay, etc.
    26 Apr 2012, 12:38 PM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    MARK, you have lost the plot in so many ways.
    26 Apr 2012, 12:49 PM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    Thanks. I guess time will tell.
    26 Apr 2012, 12:54 PM Reply Like
  • DianeLee
    , contributor
    Comments (346) | Send Message
     
    Time, and looking at the more complete picture. (note: good thing 'time' isn't taxable)
    26 Apr 2012, 02:45 PM Reply Like
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