The U.S. just became a net oil exporter for the first time in 75 years

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America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what U.S. President Donald Trump has branded as “energy independence.”

The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania.

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CEO of Tesla says humanity is currently running ‘the dumbest experiment in history

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Elon Musk said in an interview earlier this year people are running “the dumbest experiment in history” by continuing to burn fossil fuels As Musk explained:

“The greater the change to the chemical composition of the physical, chemical makeup of the oceans and atmosphere [due to increased carbon emissions], the greater the long-term effect will be. Continue reading… “CEO of Tesla says humanity is currently running ‘the dumbest experiment in history”

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Who is quietly buying all of the cheap oil?

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There are 89 tankers sailing for Chinese ports.

The US Shale Oil industry and Venezuala up in arms, Russia is being awkwardly quiet as the ‘secret’ Saudi-US oil deal that pressured prices for crude down to $80 has ‘hurt’ a lot of the world’s producer nations. However, China is the one country that is very grateful, Bloomberg reports.

 

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$100B invested in wind or solar will produce more energy than oil

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By the late 2020s or early 2030s renewables could be competing much more aggressively with the oil market.

Kepler Chevreux, a French investment bank, has produced a fascinating analysis that has dramatic implications for the global oil industry. The investment bank estimates that $100 billion invested in either wind energy or solar energy – and deployed as energy for light and commercial vehicles – will produce significantly more energy than that same $100 billion invested in oil.

 

 

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Future predictions for the oil and gas industry

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A flawed prediction for oil and gas?

One comment about the oil and gas industry comes up quite a bit from very well educated people in a number of disciplines related to the climate issue – “The oil and gas industry has only got 20 years”. A few years back, a report by the WWF took a similar but slightly less aggressive line, through the publication of an energy model forecast which showed that the world could be effectively fossil energy free as early as 2050.

 

 

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Japanese inventor finds solution to global trash problem by converting plastic to oil

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This YouTube video about the invention of a plastic-to-oil converting machine went viral and exceeded 3.7 million views. This shows that concern over “the plastic problem” is certainly not going away, despite encouraging bans on and decreases in the use of plastic shopping bags.

 

 

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The U.S. is the world’s biggest oil producer in 2013

The U.S. will surpass Saudi Arabia as the world’s biggest oil producer this year.

According to new data released from the PIRA Energy Group,  the U.S. is projected to be the biggest supplier of oil in the world this year when biofuels and natural gas liquids are taken into account.

 

 

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Smart policies are good, but oil is better

How Texas and North Dakota won the recovery.

If you want to understand how to create hundreds of thousands jobs at once you just need look to Texas and North Dakota. Together, these two states account for a little more than 8 percent of the country’s population — about one in 12 people. But they’re also responsible for 20 percent of net new jobs since the end of the recession. And, crucially, they account for “more than 100 percent of the increase in U.S. [oil] production since 2009,” James Hamilton writes.

 

 

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Prius and Volt Set New Sales Records Thanks to High Gas Prices

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Gas prices are a supreme motivator.

Drivers tend to convert to the fuel-efficiency religion once they get severely wounded in the wallet. It’s a sad fact that environmental concerns alone are often not enough… Of course, the best ways to save on gas costs are to walk, bike, and take transit (for an example of a city that has great sustainable transportation, check out Colombia’s Medellin). But if you’re going to drive, you should get the most fuel-efficient vehicle that meets your needs. Near the top of the list, the Chevrolet Volt and Toyota Prius can be found, and thanks to relatively high gas prices in the U.S. lately, they’ve both set new sales records in March 2012.

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