[Ok-sus] Fw: Update - Axis of Oil * U.S. as Oil Exporter * Lower Gas Prices

Bob Waldrop bwaldrop at cox.net
Sun Apr 1 17:25:01 CDT 2012

Bob Waldrop

            April 1, 2012 
            In This Issue: U.S. to Become Oil Exporter * Lower Gas Prices Ahead * Axis of Oil 
            U.S. to Become Oil Exporter by 2020, New Report Projects

            A new study by the Center on Energy & Society, a North Dakota-based research organization, calculates that a combination of technological break-throughs and increased investment spurred by high oil prices will dramatically increase domestic production from conventional, unconventional, and ultra-unconventional sources of petroleum and other liquid fuels, and restore the United States as an oil-exporting nation.
            Federal Bill to Stabilize Gasoline Prices at $2 a Gallon

            After months of gridlock, Congressional leaders have apparently agreed to move forward on a previously stalled energy bill that is claimed will stabilize retail fuel prices at approximately $2.00 per gallon for gasoline, and $2.10 for regular diesel. Responding to the political pressure of an election year, and competing proposals by leading presidential candidates to bring per gallon prices at the pump down to $2.50, party leaders in both the U.S. Senate and House of Representatives found an unlikely path to a deal on comprehensive energy legislation that has been years in the making.

            In the final analysis, negotiators basically looked at history and America's experience in the 1970's, and concluded that federal price controls were the best option,” said Arrhu Sirius, chief of staff for Congressman Tad Bonchers of Ohio, who helped draft the compromise.
            Russia, China, Iran, North Korea to Form Oil and Gas Pact

            In a sudden move that could significantly weaken OPEC and further complicate national security considerations for the United States and its allies, ambassadors for Russia, China, Iran, and North Korea concluded talks this week in the Siberian city of Yakutsk with a non-binding agreement to create an "axis of oil" and cooperate on exclusive long-term purchase contracts that would designate each nation as a “most favored” partner regarding the production, pricing, and consumption of both crude oil and natural gas.

            U.S. officials responded swiftly with terse statements of concern and disapproval. “This sucks,” said senior White House energy spokesperson, Weir Strong. “This changes the rules in the middle of the game, and we're going to ask the referees to review the video replay,” he added, straining to apply a sports analogy.


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