Tag Archives: Petroleum

Who’s Idea Was This?

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On Mondays, Newsweek posted the following headline:

US to Sell Off Entire Northeast Gasoline Supply Reserve

The article reports:

The sale of the Northeast Gasoline Supply Reserve is among the provisions intended to raise funds in one of six bills setting out appropriations for some federal departments this year after Congress narrowly avoided another shutdown last week.

Under a bill providing funding for the U.S. Department of Energy (DOE) for the fiscal year, a million barrels of the government’s strategic reserve of petroleum would be sold off—the same amount as in the NGSR, which is located in New York Harbor, Boston, Massachusetts and South Portland, Maine.

“Upon the complete of such sale, the Secretary [of Energy] shall carry out the closure of the Northeast Gasoline Supply Reserve,” the bill states, and “may not establish any new regional petroleum product reserve unless funding of the proposed regional petroleum product reserve is explicitly requested in advance in an annual budget.”

…Congress is expected to pass the package, which is the result of cross-party negotiations, with votes set to take place this week. Negotiations on a further six spending bills continue.

This is reckless. What part of ‘Gasoline Supply Reserve’ does Congress not understand? This is not to be used to fund America, this is supposed to be used in case of emergency. If the government truly wants to reduce the deficit, they need to look at the amount of land the government controls that could easily be sold without endangering national security.

Another Step Toward American Energy Independence

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One America News is reporting today that the MMEX Resources Corporation is building a $50 million oil refinery in Pecos County, Texas. This will be the first refinery built in America in forty years.

The article reports:

It will be developed in two phases and is expected to create hundreds of jobs.

Once completed, the 126-acre refinery will be able to process 10-thousand barrels of crude oil each day.

Meanwhile, officials plan to file permits for a second unit which would be able to produce 100-thousand barrels.

The first phase of the project is expected to be completed by the end of 2018.

Like it or not, the world economy is carbon-based. Until someone comes up with a source of green energy that is reliable and does not have to be backed up by carbon-based energy, the world economy will continue to be carbon-based. In March 2011, I posted an article explaining what happened to Spain when they decided to convert to totally green energy. If the free market is allowed to function, we may actually come up with a workable form of green energy in the future. Until then, the search for and use of green energy is somewhat like man’s search for a perpetual motion machine. The laws of physics and principles of matter just keep getting in the way.

Why We Need The Keystone Pipeline

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The Financial Times reported yesterday that American increased the amount of oil it imported from the Middle East last year.

The article reports that by the end of November the U. S. had already imported 450m barrels of crude oil from Saudi Arabia, more than we imported in 2009, 2010, or 2011. This is the first time since 2003 that Saudi Arabia has accounted for more than 15 percent of America’s oil imports. The Gulf region accounted for more than 25 percent–a nine-year high. This is happening at the same time that demand for crude oil has declined slightly since 2004 due to increased efficiency, an economic slowdown, and the increased use of natural gas.

This is foolish on the part of America. Because of our dependence on Middle-Eastern oil, we are forced to make political and foreign policy decisions that are not in our best interest. Whether we choose to acknowledge it or not, there is currently a clash of civilizations between western freedom and Islamic nations and radicals that do not support freedom. We are supporting these radicals with our oil purchases. If you look at the changes in the United Nations over the past thirty years, you will find that the new empowerment of Islamic groups was financed by Americans buying oil. The anti-Semitism that has ruled the United Nations in recent years is funded by Americans buying Middle East oil. Saudi Arabia, who is an awkward ally at best, is one of the major financial backers of terrorism and extreme Islam around the world, and we keep giving them oil money.

It is time for America to declare its energy independence. That does not mean wind and solar–so far they do not work. We live in a carbon-based world economy. We might as well acknowledge this and get on with life. The Keystone Pipeline would be a positive step in that direction.

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