In recent years, the United States has become much more self-sufficient when it comes to energy. A surprising decline in US petroleum consumption paired with increased production have combined to erase much of the American dependence on foreign oil imports. This week, the US reached another energy milestone when it was announced that America is now a net exporter of natural gas. America exports oil and gas in a reversal of 50 years of policy.
According to the Wall Street Journal, the US exported an average of 7.4 billion cubic feet of natural gas per day in November. Over the same period, only 7 billion cubic feet per day was imported. It has been almost 60 years since the US exported more natural gas than it imported.
The news on natural gas comes three years after US oil imports balanced for the first time since the 1950s. In 2013, US crude oil production was greater than the amount of oil imported for the first time in decades.
The increase in US oil production is due largely to fracking and other new technologies that allow oil that was previously not recoverable to be harvested profitably, even when the price of oil is low. Shale oil production has risen even as prices fell. According to CNN, fracking now accounts for more than half of US oil production and has increased US output to a 43-year high. Since low oil prices have actually depressed production, US oil output can be expected to increase further as prices rise.
American oil production has increased to the point that US oil companies are now exporting oil for the first time in 40 years. In December 2015, Congress lifted a 1975 ban on exporting domestically produced oil. Six months later, oil exports averaged more than half a million barrels per day and US oil was being shipped around the world.
The shift from importing to exporting is also due to a decline in US oil consumption. After steadily increasing since the early 1980s, the 2008 financial crisis caused oil consumption to plunge. However, even after the recession was over, oil consumption remained low. In 2015, the White House Council of Economic Advisors pointed out that 2014 oil consumption was lower than 1997 in spite of an economy that was 50 percent larger. The decline was due primarily to a drop in vehicle miles traveled, but higher fuel economy was also a factor.
So far, the oil consumption “surprise” in the US has been greater than in other countries, but consumption is expected to fall around the world. Forbes points out that the discussion has moved from concerns about a “peak oil” decline in production to peak oil consumption. New technologies to conserve oil and alternative energy sources are pointing to the possibility that worldwide oil consumption may soon start to decline.
The decline in oil prices over the past few years is a perfect illustration of the laws of economics in action. As oil production, the supply side of oil, increases, the price of oil, the demand side, decreases. Additionally, decreases in demand due to less driving and more fuel efficient cars also contribute to falling prices.
Ultimately the markets corrected and solved the problem of high oil and gasoline prices without government interference. In the future, they will also solve the problem of what to do when oil supplies eventually become scarce or inefficient. Tim Worstall noted in Forbes, “As Sheikh Yamani pointed out, the stone age did not end because of a shortage of stones. And it looks like the oil age will not end for a shortage of oil, rather simply because we’re finding better ways to get our energy.”
Originally published on The Resurgent
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It’s Official! Trump Just Enraged Dems Overnight With What Passed Behind Their Backs Without Their Vote
Congress isn’t known for it’s work ethic; in fact it seems that they work the very hardest when they’re trying to get elected and take a whole lot of recesses after that. Unfortunately, between the long breaks and the conflicting parties arguments, getting legislations passed seems insurmountable at times.
This year though, Republicans have one distinct advantage; we have majorities in both houses of congress, and of course a Republican President. One of the major issues that both congressmen and the President campaigned on was tax reform. The American people are more than ready to see more responsibility from the federal government as to what they do with our tax dollars, and maybe a reduction in the amount they take.
Finally some progress is being made toward that end, and we didn’t need the Democrats to do it. The Hill reports about the budget that the House of Representatives passed, without the help of a single Democrat.
“House passes budget, paving way for tax reform: The House passed its 2018 budget resolution Thursday in a party-line vote that represents a step toward its goal of sending tax-reform legislation to President Trump.
In a 219-206 vote, lawmakers approved a budget resolution for 2018 that sets up a process for shielding the GOP tax bill from a filibuster in the Senate.
A total of 18 Republicans voted against the resolution, along with all the Democrats who were present.”
Here’s hoping those 18 Republicans get an ear full from their constituency about why they voted against a budget that would allow for tax reform. Regardless, the rest of the party proved that we can still get measures important to us passed, even if we have a few straggling defectors along the way.
“GOP lawmakers hailed the vote as meaningful because of the tax measure.
‘We haven’t reformed this tax system since 1986. We need to pass this budget so we can help bring more jobs, fairer taxes and bigger paychecks for people across this country,’ Speaker Paul Ryan (R-Wis.) said during House floor debate.
Democrats lambasted it for the same reason.
‘This budget isn’t about conservative policy or reducing the size of our debt and deficits. It’s not even about American families. This budget is about one thing — using budget reconciliation to ram through giant tax giveaways to the wealthy and big corporations — and to do it without bipartisan support,’ said Rep. John Yarmuth (D-Ky.), the ranking member of the House Budget Committee. “
If by “the wealthy” they mean those not on welfare, than I’d have to agree. Those of us not on government hand outs (especially business owners) would like to hold onto more of the money that we make, instead of letting the government distribute it for us.
The reason this measure passed with the ease that it did goes back to that solid majority that Republicans have. The reason that we hold that position is because the Republican platform reflects that of the majority of Americans. We’re mostly middle class, hard working and looking for a break. We’ve gotten fed up with the liberal agenda, and we’re ready for relief.
Now that the House of Representatives have done their job, they pass it off to the Senate Republicans, in hopes that they’re going to be able to pass the tax reform legislation that is so desperately needed without having to withstand a filibuster. Republicans only need 50 votes to get the job done, and since the party holds 52 Senate seats, the chances are promising.
We don’t yet know all the details of what the tax reform will bring, but Republicans noted the tax plan will have a $5 trillion cut in the next ten years. With this, Medicaid expenditures will be cut to about $1 trillion in the upcoming decade.
We do, however, have a few more details from our source about the coming changes:
Consumer bureau releases payday lending rule: The Consumer Financial Protection Bureau released a long-anticipated rule Thursday that’s meant to protect short-term, high-interest loan customers from being trapped with debt.
The CFPB’s action targets lenders that offer small loans with short payback timeframes and interest rates, often called “payday” loans. Such loans, which sometimes use car titles as collateral, are often used by low-income customers in need of extra money to cover basic expenses.
The CFPB’s rule is the final step of a years-long effort to hold payday and car title lenders to stricter standards that could hamper much of the industry. CFPB Director Richard Cordray called the rule “a stop to the payday debt traps that have plagued communities across the country.”
“Too often, borrowers who need quick cash end up trapped in loans they can’t afford.” Cordray said. “The rule’s common sense ability-to-repay protections prevent lenders from succeeding by setting up borrowers to fail.” I break down the 1,600-page rule here: http://bit.ly/2xldr2b.
Senate confirms Trump’s first Fed nominee: The Senate on Thursday confirmed Randal Quarles to serve on the Federal Reserve’s Board of Governors, where he’ll oversee the central bank’s financial regulation efforts.
Quarles, a top Treasury Department official under former President George W. Bush, will serve as the Fed’s first vice chairman for supervision, a position created by the Dodd-Frank Act to bolster federal oversight of major banks.
Quarles is the first member of the Fed nominated by President Trump, who’ll have several chances to reshape the central bank. Trump is currently mulling whether to replace Fed Board Chairwoman Janet Yellen when her term expires in February, and Vice Chairman Stanley Fischer is scheduled to leave the bank by the middle of October.
The Senate cleared Quarles 65-32, with 14 Democrats voting in favor his confirmation. No Republicans opposed Quarles, while Sens. Thad Cochran (R-Miss.), Dean Heller (R-Nev.) and Catherine Cortez Masto (D-Nev.) were not present for the vote. Cochran is currently recovering from a medical issue, while Heller and Cortez Masto are in Nevada responding to the Las Vegas concert shooting that killed more than 50 people.
[H/T: The Hill]
Shocking Vid Of 2nd Shooter Just Accidentally Leaked And Exposes MASSIVE Media Coverup
Ever since the brutal massacre took place in Las Vegas on Sunday night after a deranged psychopath opened fire on concert goers, it’s been extremely difficult to get a straight story from the media. Many experts are crying foul over the media’s narrative that there was only one shooter, including the Las Vegas sheriff who says it was “impossible” and a former Navy SEAL who said in a recent interview that the official story “does not add up.” Now a ground-breaking video from an eye witness has just leaked, leaving many astonished as to why the mainstream media is so incessant with pushing their whopper about a single shooter carrying out the massacre that night.
In addition to the Las Vegas sheriff scoffing at the idea of there being only one shooter, the man who was staying in the room right next door, Brian Hodge, an Australian, said he witnessed more than one shooter. “There were multiple people dead and multiple shooters. I was just hiding waiting for police to come get us. We were hiding in the bushes outside waiting for the police.”
Now Hodge’s eye witness account cannot be disputed any longer after the video that just leaked, much to the demise of the mainstream media who keeps pushing their biased agenda.
Wendy Miller was also caught up in the attack that night and reported to authorities that she and her husband were at a bar at a nearby hotel when they saw what they described as a “person of interest” rush past them.
“We managed to make our way back to our room…” she told The Courier-Mail.
“We are in lock down.”
“Our door is dead locked and a chair against the door.”
Ms. Miller said the man sprinted through her hotel after coming off an escalator from the Mandalay Bay.
“The man that they [security] were chasing was wearing a security jacket like them,” she said.
Now a video has surfaced showing exactly what Miller and her husband witnessed that night proving there was in fact more than one shooter carrying out the massacre.
“New video has surfaced purportedly showing a man in a yellow security vest within the crowd with what appears to be a firearm, and he takes a shooting position as the crowd flees from his area in a panic. The man is seen running up toward the crowd then crouching down, before a flash is emitted in front of him and people flee for their lives,” America’s Freedom Fighters reported.
— 🇺🇸Brian Richmond (@B_Rich33NO) October 4, 2017
This is extremely chilling. But perhaps more troubling is that the mainstream media keeps pushing the narrative of there only being one shooter even though mounting evidence is proving otherwise. Here’s what the former Navy SEAL, only identified as “Mike” had to say about the narrative of there only being one shooter, via Gateway Pundit:
“With this presser, I am finally getting a straight answer as to how long this guy was shooting.”
Shooting time: 10 minutes
Casualties: 600 +
Casualty Rate: 60/minute
“This means he had to be hitting one person every second for the entire 10 minutes. With changing mags on a AR platform, in semi-auto, 30 round mags, a trained operator might get, might, 240 rounds off per minute. In reality, closer to about 160 to 180 per minute. And of note, you do this to a civilian version of an AR, it will fail. Metal fatigue.”
“So there should be at least 600 expended rounds that were accurately placed. Add in all of the spray on the stage and surrounding structures, and the round count goes way up. That is going to be one hell of a pile of brass. And a fire hazard on any cloth. (That is one of the reasons you want to be on the left side of the range, and turn your collar up. Hot brass down your shirt burns like hell. It is also funny when it isn’t you.)”
“The numbers on this tragedy do not add up.”
Police scanners that night revealed that authorities knew immediately it was more than one shooter, and the eye-witness account of the man staying next door to Stephen Paddock is oddly being ignored by the mainstream media. As we exposed on Wednesday:
When frantic calls began to pour into 911 that night with news of an active shooting taking place at the concert near the hotel, initial eye witnesses claimed that there were multiple shooters firing down upon the crowd. But for some reason, the mainstream media keeps pushing the narrative that there was only one shooter involved, even though mounting evidence is starting to indicate otherwise.
Australian man Brian Hodge was staying in the room next to Paddock that fateful night, and what he witnessed is destroying the mainstream media’s narrative that the massacre involved only one shooter. After hearing gun fire coming from his floor, Hodge rushed outside and hid in the bushes and called for help. Hodge then said something shocking, certain that this massacre was not carried out by Stephen Paddock alone.
“There were multiple people dead and multiple shooters. I was just hiding waiting for police to come get us. We were hiding in the bushes outside waiting for the police.”
Adding, “It was a machine gun from the room next to me. My floor is a crime scene. They killed a security guard on my floor.”
Hodge isn’t the only person who believes there was more than one shooter that carried out the massacre. Many people are feeling uneasy about the official story that’s being pushed and are starting to suspect there’s something extremely fishy with the narrative the mainstream media is telling everyone. Even Republican Congressman Trey Gowdy is scoffing at the narrative that this was carried out by a lone shooter.
Looks like there’s much more to the story than the crooked media is letting on. Why would they continue to push the narrative of there being only one shooter? Let us know your thoughts in the comments below!
BREAKING: Video Believed To Be Vegas Shooter Before Massacre Just Got Out And Shows SICK Thing He Did
The city of Las Vegas became the gruesome crime scene overnight in what’s being dubbed the deadliest mass shooting on U.S. soil. Sixty-four-year-old Stephen Paddock holed himself up in a casino hotel room with 10 guns, where he shot down on concert goers below, massacring 50 and wounding at least 200 others. As more details slowly emerge about the event, sickening video has just surfaced that the liberal media is frantic to keep buried.
Ever since President Trump got into office, liberals have been shedding their skin and revealing their true nature. We have constant assassination threats being made towards our president, celebrities holding mock Trump beheadings, and music artists acting out Trump’s murder in their music videos. We even have top Democratic leadership encouraging violence towards Trump and his supporters, where Obama’s former official Loretta Lynch told anti-Trump liberals that there needed to be “blood and death in the streets,” utilizing whatever deadly force necessary to take out Trump and the GOP.
We’ve witnessed in recent months what happens when this leftist-perpetrated hatred remains unchecked, just take a look at what happened over the summer when deranged anti-Trump liberal James T. Hodgkinson opened fire on a GOP baseball practice several months back, nearly killing Congressman Steve Scalise.
Now it appears as though Paddock’s actions were possibly motivated by the same vile anti-Trump hatred that drove Hodgkinson to murder, after a sickening video of what appears to be a video footage of Paddock from back in August just surfaced.
Investigator Steven Haffley from IllWriteIt.com was busy in the overnight hours piecing together evidence on Paddock that the mainstream media missed, and noticed that a man bearing a striking resemblance to the Las Vegas shooter was at an anti-Trump rally back in August.
A man who looks eerily familiar to Stephen Paddock can clearly be seen at the anti-Trump rally with a NASA shirt wearing a pink p*** hat standing in a small crowd of other anti-Trump liberals.
It’s truly sickening what liberals are doing to rip our country apart. It’s becoming apparent that foreign terrorists like ISIS are now becoming the least of our concerns, as liberals here in America are orchestrating terror attacks against their fellow Americans simply because they disagree with Trump and his supporters.
This is what happens when hatred towards our president remains unchecked. We need to stop letting liberals hide behind the First Amendment, as they frequently use this as protection for their incendiary language. Leftists’ calls for “blood in the streets” is being taken quite literally by these vile anti-Trumpers, and we need to start charging liberals with terrorism as soon as there’s any sign that they they’re plotting violence. Right now it’s unclear how many more people will die from the shooting, as many victims still remain in the hospital in critical condition. Daily Wire reports:
On Sunday night, at around 10 p.m. local time, a suspected lone gunman identified as Stephen Craig Paddock opened fire at the Las Vegas Route 91 Harvest country music festival, killing at least 50 people and injuring at least 400 others. Victims’ names have yet to be released, but Las Vegas Sheriff Joe Lombardo has confirmed that one officer was killed and another remains in critical condition.
he massacre is the worst mass shooting in U.S. history.
Reports are continuing to pour in, but here’s what we know about the alleged shooter and a female companion, person of interest Marilou Danley, in the case so far.
There have been reports that the gunman lived in a retirement home, though this remains unconfirmed. His hometown, Mesquite, is a small town that contains a few retirement communities.
According to Las Vegas Sheriff Joe Lombardo, the motive remains unclear but is not suspected to be terrorism, meaning it was likely not associated with a political or religious aim.
“No,” said Sheriff Lombardo, when asked the massacre was a suspected “act of terrorism.”
“Not at this point,” he said. “We believe it was a local individual. He resides here locally. I’m not at liberty to give you his place of residence yet, because it’s an ongoing investigation, we don’t know what his belief system was at this time. … Right now we believe he is the sole aggressor at this point and the scene is static.”
You can be sure that the mainstream media will be frantic to bury the unfortunate fact that this shooter appears to be an anti-Trump leftist, as this shooters background doesn’t fit their race-baiting agenda. Be sure to share this story and help expose the truth!
Military General Reveals DISGUSTING Thing Obama Did After His Son Was Killed By Muslims – Trump Was RIGHT!
This is the sickest thing, Ever!
24Hrs After Cops Make BIG Bust In Cali Fire That Killed 41, They Make 2nd SICK Discovery – Trump’s LIVID
Trump was right!
Trump Just Issued URGENT Warning To All Americans About The SICK Shots Obama Pushed For 8 Years
This is scary!
BREAKING: ‘Vanished’ Vegas Security Guard’s SICK Secret Just Surfaced, Now We Know Why He’s Hiding
Mystery has surrounded the sudden “disappearance” of the Mandalay Bay security guard who was shot by Las Vegas gunman Stephen...
BREAKING: State Of Emergency Declared For 1st Time In History Over WHO Just Showed Up & It’s BAD
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Titan Who Promised To Quit NFL If Forced To Stand Had NASTY Surprise For Americans Monday Night
This is disgusting & it will piss you off like no other!
Traitor McCain Uses Prestigious Award To TRASH Trump – BIG Mistake After POTUS Shows Up With ‘Ugly’ Surprise
Here comes the BOOM!
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