Post Tagged with: "obama"

John Hofmeister Sets the Record Straight after Obama Takes Credit for Oil Boom

John Hofmeister Sets the Record Straight after Obama Takes Credit for Oil Boom

‘That was me, people’ – Barack Obama, taking credit for oil production boom at Houston event From Fox News Former President Barack Obama on Tuesday took credit for the boom in U.S. oil and gas production, saying, “That was me, people.” Obama made the remark during at a gala for Rice University’s Baker Institute for Public Policy in Houston, Texas, touting energy production under his administration. “You wouldn’t always know it, but it went up every year I was president,” he said to applause. “That whole — suddenly America’s like the biggest oil producer and the biggest gas — that was me, people.” On “Fox & Friends” Thursday, former Shell Oil Company President John Hofmeister said Obama is correct that oil production increased throughout his two terms, but “he had nothing to do with it.” “This was production in states like Texas, Oklahoma, Pennsylvania, Ohio, Colorado, North Dakota, in particular. And[Read More…]

November 29, 2018 - 1:24 pm Closing Bell Story, Energy News, People, Politics & Opinions, Popular 4
Obama Directs $4.5 Billion in U.S. Government Loan Guarantees to Speed the Adoption of Electric Vehicles

Obama Directs $4.5 Billion in U.S. Government Loan Guarantees to Speed the Adoption of Electric Vehicles

With less than six months remaining in his stay at the White House, President Obama has come out with a program to use the U.S. taxpayers’ money to guarantee loans for parties who are working to accelerate the adoption of electric vehicles and the infrastructure to charge them. The money comes into play in the form of up to $4.5 billion in loan guarantees.  The administration is inviting applications to support the commercial-scale deployment of innovative electric vehicle charging facilities. Last week the White House put out a fact sheet entitled “Obama Administration Announces Federal and Private Sector Actions to Accelerate Electric Vehicle Adoption in the United States.” The fact sheet summarizes its actions like this: “The Obama Administration is taking responsible steps to combat climate change, increase access to clean energy technologies, and reduce our dependence on oil.” The Obama White House took credit for its “multiple programs across the Administration that are[Read More…]

Climate Change Move from N.A. Heads of Government Could Affect the Oil & Gas Industry

Climate Change Move from N.A. Heads of Government Could Affect the Oil & Gas Industry

Three Chief Executives Tackle Climate Change Canada’s Prime Minister Justin Trudeau, U.S. President Barack Obama, and Mexico’s President Enrique Peña Nieto joined forces in Ottawa this week expressly to demonstrate how North America has the “moral imperative to show strong leadership building on the Paris Agreement and promoting its early entry into force.” This meeting was to showcase their resolve to fight climate change. Their policy creators had crafted and issued a 5,000-word statement outlining the leaders’ joint desires and an action plan when it comes to climate. Issued from the Canadian prime minister’s website, it is called “Leaders’ Statement on a North American Climate, Clean Energy and Environment Partnership.” Much of the language describes “goal setting, cooperating, collaborating and sharing,” but some of their policy initiatives could have a direct effect on the oil and gas industry if the proposed policies find their way to Capitol Hill and become written into law,[Read More…]

Source: WPX

Federal Judge Strikes Obama’s Fracing Ban

A federal judge in Wyoming has issued a final ruling to refute the executive branch’s ban of hydraulic fracturing on public land. U.S. District Judge Scott Skavdahl issued the final ruling on June 21, 2016, upholding a preliminary injunction he had put in place last September. Skavdahl said the ban was ill conceived. “Congress‘ inability or unwillingness to pass a law desired by the executive branch does not default authority to the executive branch to act independently, regardless of whether hydraulic fracturing is good or bad for the environment or the citizens of the United States,” wrote Judge Skavdahl, whom President Obama appointed to the bench in 2011. The no-frac rule was initially put in place by the Bureau of Land Management in March 2015. It attempted to prevent any fracing activity from taking place on federal land. Federal land is home to 11% of the natural gas production and[Read More…]

Coal Under Fire: Clean Power Plan Begins

Coal Under Fire: Clean Power Plan Begins

27 States are Suing to Stop the CPP, Where do Things Stand? On August 3, 2015, President Obama and the U.S. Environmental Protection Agency announced the Clean Power Plan, which is described on the EPA website as “a historic and important step in reducing carbon pollution from power plants that takes real action on climate change.” The Clean Power Plan mandates the federal government through that agency to zero in on the carbon emissions coming out of coal-fired power plants. The rule officially takes effect Dec. 22, 2015 – tomorrow. The CPP has a goal of reducing carbon emissions from U.S. electricity generators by 32% by 2030. Many of the U.S. coal-fired power plants won’t be able to achieve that goal without retrofits that are cost-prohibitive. As a result of ever strengthening air pollution rules, power companies have started closing coal plants or converting them to natural gas-fired electricity generation plants. For the month of April 2015, natural gas surpassed coal as the[Read More…]

We Oppose Lifting of Oil Export Ban: White House

We Oppose Lifting of Oil Export Ban: White House

Press Secretary Takes Jabs at Republicans, Energy Subsidies in Media Briefing The crude oil export ban, a hot topic among industry and American security pundits alike, appears likely to land in the House of Representatives this month. The efforts are a welcome sign for an oil and gas sector that is estimated by Moody’s to generate negative cash flow of roughly $80 billion in 2015. House Majority Leader Kevin McCarthy (R-CA) made an official announcement today, and the measure will face a vote within the month of September. The bill will likely be received favorably by the Republican-controlled House. The same can’t be said for the Obama Administration, who claimed it will oppose undoing the 40-year old measure deemed as a “relic” by oil magnates like John Hess. The White House came out against lifting the ban in a press briefing on September 15. Josh Earnest, Press Secretary for Administration,[Read More…]

House Approves the Keystone XL Pipeline, but will it Really Matter?

House Approves the Keystone XL Pipeline, but will it Really Matter?

While TransCanada’s $8 billion project hangs in the balance, Canadian oil is already moving south The landslide Republican victory in this month’s midterm elections will prompt changes in the business of politics and in the U.S. economy, but will they include the Keystone XL pipeline? The House of Representatives approved the Keystone pipeline earlier today by a count of 252-161, with all 221 Republicans and 31 of 192 Democrats pushing for approval of the landmark pipeline. The measure now lands in the Senate, which may issue votes as early as Tuesday. House lawmakers were confident the Senate would follow suit and pass its version of the bill, but supporters were still one vote shy of the 60 needed to overcome a filibuster. The current makeup of the Senate includes 53 Democrats, 45 Republicans and two independents who have typically sided with the Democrat majority. If the Keystone XL bill makes it[Read More…]

President Rouhani Hopes “New Era” Can Soothe Political and Economic Difficulties in Iran

President Rouhani Hopes “New Era” Can Soothe Political and Economic Difficulties in Iran

Dr. Hassan Rouhani is the seventh President of the Islamic Republic of Iran. He has been a Representative of the Supreme Leader to the Supreme National Security Council, a Member of the Expediency Council, and a Member of the Assembly of Experts. He took office on August 4, 2013, succeeding Mahmoud Ahmadinejad. Previously, Rouhani served as Iran’s nuclear negotiator to Europe and agreed to suspend uranium-enriched testing from 2003 – 2005. He resigned after Ahmadinejad’s 2005 election victory, and was criticized for being too accommodating in his negotiations. Tensions with Western nations increased during Ahmadinejad’s two terms, with the U.S. and Europe publicly questioning the intent of Iran’s nuclear program. Rouhani, viewed as a moderate politician, vowed to revive Iran’s image after winning the recent election, and said, “My government will be one of prudence and hope and my message is about saving the economy, reviving ethics and interaction with[Read More…]

September 27, 2013 - 12:29 pm Oil and Gas 360 Articles, Politics & Opinions
Let’s Work For America, Not Against It; Climate Change Speech Positive for Natural Gas

Let’s Work For America, Not Against It; Climate Change Speech Positive for Natural Gas

President Barack Obama’s first climate change speech of his second term focused on three main points: cutting carbon pollution in America, preparing the U.S. for the impacts of climate change, and leading international efforts to combat global climate change. Our key takeaway from the president’s speech was natural gas is cited as a “critical bridge fuel” – and rightfully so. Consumers increased their consumption of natural gas every year from 2007 through 2012. Last year, the U.S. market burned 10% more natural gas than it did in 2007, primarily driven by greater demand from electric power generation and industrial sectors, which increased consumption by 34% and 7%, respectively. For the purpose of this piece, OAG360 will focus on the president’s first point: cutting carbon pollution in America and how the new plan incorporates many positives for the natural gas industry. Cutting Carbon Pollution in America During his speech, President Obama[Read More…]