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-- 2012 --
May 3: The 3 biggest benefits of producing
more oil
http://fortune.com/2012/05/03/the-3-biggest-benefits-of-producing-more-oil/
-- 2014 --
October 24: [Regarding U.S. oil reserves] In
2008, the Congress passed legislation that temporarily halted deposits of
oil into the reserves. ... Three years later, when the global economy was at
risk of an oil supply shock due to the war in Libya, the United States and 28
other nations
tapped their strategic reserves.
http://money.cnn.com/2014/10/24/news/u-s-oil-reserve/index.html
-- 2016 --
November 16: Despite the U.S. shale oil
boom, which has made it the third largest global crude oil producer, the country
still relies heavily on Saudi crude imports. Saudi Arabia is the largest Middle
Eastern oil supplier to the U.S. with an 11% market share and has also invested
heavily in U.S. downstream assets (refineries) to help lock in that supply.
Around 31% of all U.S. oil imports are from OPEC members, while Canadian oil
imports have a 41% share.
https://www.forbes.com/sites/timdaiss/2016/11/16/no-saudi-oil-says-trump-saudi-arabia-fires-back/#3e6a601620fe
November 16: The president-elect has said
repeatedly that the U.S. needs to block all oil imports from Saudi Arabia.
... Saudi Arabia's oil minister
fired back [at Trump]. Khalid Al-Falih, also the chairman of Aramco, said in an
interview that “at his heart President-elect Trump will see the benefits [of
Saudi oil imports] and I think the oil industry will also be advising him
accordingly that blocking trade in any product is not healthy.”
“The U.S. is sort of the
flag-bearer for capitalism and free markets,”
Al-Falih added. “The U.S. continues to be a very important part of a global
industry that is interconnected, that is dealing with a fungible commodity which
is crude oil. So having equalization through free trade is very healthy for
oil,” he said.
https://www.forbes.com/sites/timdaiss/2016/11/16/no-saudi-oil-says-trump-saudi-arabia-fires-back/#3e6a601620fe
November 21: President-elect
Donald Trump registered eight companies during his presidential
campaign that appear to be tied to hotel interests in Saudi Arabia ... The
companies were registered under names such as THC Jeddah Hotel and DT Jeddah
Technical Services, according to financial disclosure filings.
Trump has in the past said he wants to protect the oil-rich Arab kingdom.
During a rally on August 21, the day Trump created four of those companies, he
said he gets along well with Saudi Arabia.
"They buy apartments from me," Trump said during the Alabama rally. "They spend
$40 million, $50 million. Am I supposed to dislike them? I like them very much.
In
January of this year, Trump said
on Fox News he "would want to protect Saudi Arabia.
http://thehill.com/blogs/blog-briefing-room/news/306990-trump-appeared-to-register-eight-companies-in-saudi-arabia
-- 2017 --
Undated 2017:
https://myoildrilling.info/pros-and-cons-of-offshore-drilling/
Undated 2017: Benefits of U.S. Offshore Oil
and Natural Gas Development
Opening the U.S. Atlantic Outer Continental Shelf (OCS), the U.S. Pacific OCS
and the Eastern Gulf of Mexico to offshore oil and natural gas exploration and
production could have remarkable benefits for job creation, U.S. energy
security, domestic investment, and revenue to the government.
http://www.api.org/oil-and-natural-gas/wells-to-consumer/exploration-and-production/offshore/benefits-of-us-offshore-oil-and-natural
March 24: Trump approves Keystone pipeline
The State Department announced Friday morning that its undersecretary for
political affairs, Tom Shannon, issued the permit, two months after President
Trump signed a memorandum to revive the project after Obama’s rejection.
“In making his determination that issuance of this permit would serve the
national interest, the under secretary considered a range of factors, including
but not limited to foreign policy; energy security; environmental, cultural, and
economic impacts; and compliance with applicable law and policy,” State said.
http://thehill.com/policy/energy-environment/325587-trump-approves-keystone-pipeline
March 29: In 2016, the United States
consumed a total of 7.19 billion barrels of petroleum products, an average of
about 19.63 million barrels per day. (Preliminary data for 2016) [This is enough
for about 35.65 days of U.S. consumption]
https://www.eia.gov/tools/faqs/faq.php?id=33&t=6
April 20: President Donald Trump directed his administration Thursday to
investigate whether imports of foreign steel are harming US national security.
The US imports steel from
more than 90 countries, according to the International Trade Administration.
Top providers include Canada, Mexico, Russia, Brazil, Turkey and Germany.
http://www.cnn.com/2017/04/20/politics/trump-steel-national-security/index.html
May 11: OPEC has
asked a favor of other major [oil] producers: Please stop pumping so much and
help us balance the market.
OPEC said that one producer in particular is to blame: The
U.S., where
shale producers have continued to ramp up their drilling despite lower crude
prices.
The U.S. did not join its
agreement, and the number of rigs in operation there has doubled over the past
year.
http://money.cnn.com/2017/05/11/investing/opec-oil-u-s-supply/index.html?iid=ob_homepage_deskrecommended_pool
May 25: OPEC and key producers including
Russia agreed Thursday to extend curbs on oil output to the end of March 2018.
http://money.cnn.com/2017/05/25/investing/opec-meeting-oil-production-cuts/index.html?iid=ob_article_footer
May 23: The federal
government has stashed away nearly 700 million barrels of oil to shield
Americans from a shock that would send gasoline prices spiking.
The country dipped into the US strategic oil reserve, during
several recent disruptions such as the 2011 turmoil in Libya and Hurricane
Katrina in 2005.
Now, President Trump wants to sell off half of the oil sitting in
the strategic reserve, which is made up of a complex of tanks and deep
underground storage caverns.
To justify the proposed sale, the
Trump administration pointed to the surge in US oil output.
The national security "risk goes down dramatically when we have increased
production like today," Mick Mulvaney, the director of Trump's Office of
Management and Budget, told reporters ...
http://money.cnn.com/2017/05/23/investing/strategic-petroleum-reserve-trump-budget-us-emergency-oil/index.html?iid=ob_article_footer
May 23:
Trump’s proposal to sell nearly half of the oil from the Strategic Petroleum
Reserve isn’t as bad as you think
https://www.marketwatch.com/story/trumps-proposal-to-sell-nearly-half-of-the-oil-from-the-strategic-petroleum-reserve-isnt-as-bad-as-you-think-2017-05-23
May 24:
Trump's strategic oil reserve sale: Some call it 'misguided,' others say it's
about time
https://www.cnbc.com/2017/05/24/trumps-strategic-oil-reserve-sale-sparks-debate.html
June 1: Crude oil is now flowing through the
Dakota Access Pipeline, despite months of protests against it by Native American
tribes and environmental groups. ... During President Trump's first month in
office, he reversed a decision by the Obama administration and
called on the Army to expedite the approval process for the section of the
pipeline that had not yet been built.
http://www.npr.org/sections/thetwo-way/2017/06/01/531097758/crude-oil-begins-to-flow-through-controversial-dakota-access-pipeline
June 6: The oil
industry's most powerful lobbying group met on March 23 with President Trump's
interior secretary at the Trump International Hotel in Washington, DC. It also
happened to be the same day the administration killed a rule that oil companies
opposed. ... "It creates the appearance they are currying favor" by staying at a
Trump hotel, said Lawrence Noble, general counsel at the Campaign Legal Center,
a nonprofit, nonpartisan watchdog.
http://money.cnn.com/2017/06/06/investing/oil-lobby-trump-hotel-api/index.html
August 31:
The Trump administration has tapped an emergency stockpile of crude oil in
response to the major refinery outages in the U.S. Gulf Coast caused by
Hurricane Harvey.
http://money.cnn.com/2017/08/31/investing/strategic-oil-reserve-harvey-trump/index.html
August 31: The Energy Department said it
will send 500,000 barrels of oil from the Strategic Petroleum Reserve to the
Phillips 66 (PSX)
refinery in Lake Charles, Louisiana. Officials said the refinery, which hasn't
been shutdown by the historic flooding, requested the release of emergency oil.
... "There's a huge logistical challenge going on at the moment because those
refineries up and running don't have access to the oil they need," ...
http://money.cnn.com/2017/08/31/investing/strategic-oil-reserve-harvey-trump/index.html
September 25:
Tweeting will only get you so far. After
failing to cajole OPEC to pump more and lower oil prices, U.S. President
Donald Trump could pursue a more direct route: tapping his nation’s Strategic
Petroleum Reserve.
And just as with his tweets, that may not lead him to his goal.
With global benchmark Brent crude at a 4-year high above $80 a barrel less than
two months before key mid-term elections in the U.S., the growing consensus in
the industry is that it’s more a question of when, not if, Trump authorizes a
release from the emergency stockpiles built after the 1973-74 oil crisis.
Mike Muller, an executive at Vitol Group, the world’s top independent oil
trader, said that tapping the reserve could even prove counter-productive. It
could lead investors to say “that’s bullish because there’s less cover” for
other potential outages, he said.
https://www.bloomberg.com/news/articles/2018-09-25/as-twitter-fails-trump-s-next-avenue-is-strategic-oil-reserve
September 26: Pros & Cons of Oil Drilling in
the United States ... Less Imports, More Jobs; Environmental Impact; Limited
Impact on US Oil Prices
https://bizfluent.com/list-6919330-pros-oil-drilling-united-states.html
November 30: How Offshore Oil and Gas
Production Benefits the Economy and the Environment
http://www.heritage.org/environment/report/how-offshore-oil-and-gas-production-benefits-the-economy-and-the-environment
-- 2018 --
January 4: Pacific Coast Governors Condemn
Federal Decision to Expand Offshore Drilling
California Governor Edmund G. ["Jerry"] Brown Jr., Oregon Governor Kate Brown
and Washington Governor Jay Inslee issued the following statement today in
response to the federal proposal to expand oil and gas offshore drilling,
including in Pacific waters, for the first time in decades:
“This political decision to open the magnificent and beautiful Pacific Coast
waters to oil and gas drilling flies in the face of decades of strong opposition
on the part of Oregon, Washington and California – from Republicans and
Democrats alike.
“They’ve chosen to forget the utter devastation of past offshore oil spills to
wildlife and to the fishing, recreation and tourism industries in our states.
They’ve chosen to ignore the science that tells us our climate is changing and
we must reduce our dependence on fossil fuels. But we won’t forget history or
ignore science.
https://www.gov.ca.gov/2018/01/04/news20123/
February 4: Trump's Deceptive Energy Policy
... There is no “war on energy,”
no “clean coal.” But now we have a war on common sense.
https://www.nytimes.com/2018/02/04/opinion/trump-energy-policy.html
February 9: Oil prices fall below $60 a
barrel for the first time this year
http://money.cnn.com/2018/02/09/news/economy/oil-prices-february/index.html
March 21: Oil and gas drillers bid on only a
tiny fraction of Gulf of Mexico acreage offered on Wednesday in the largest
lease sale in American history, a setback to the Trump administration’s efforts
to rapidly pump up investment in the region.
... companies facing multi-billion dollar price tags to develop the acreage and
tempted by better terms overseas bid on just 1 percent of the area up for grabs,
winning with bids that averaged just $153 an acre - 35 percent below levels last
year, and a fraction of those in the region in 2013 when oil prices were higher,
according to the data.
https://www.reuters.com/article/us-usa-drilling-gulfmexico/drillers-give-tepid-response-to-record-u-s-offshore-lease-sale-idUSKBN1GX18D
April 12: New Zealand has stunned the energy
industry by slapping a new cap on drilling for oil and gas in its waters as part
of efforts to combat climate change.
Prime Minister Jacinda Ardern announced Thursday that the government will
"no longer be granting any new offshore oil and gas exploration permits."
"This is another step on our transition away from fossil fuels and towards a
carbon neutral economy," Ardern
said in a speech.
http://money.cnn.com/2018/04/12/news/companies/new-zealand-oil-gas-exploration/index.html
April 20: The oil market has caught
President Trump in an awkward spot between his pro-business instincts and his
populist tendencies.
Trump, a major friend to the fossil fuels industry, took OPEC to task on Friday
for the
recent surge in oil prices. The price has climbed toward $70 in recent
weeks, the highest in more than three years.
... millions of American voters will probably share the president's outrage if
gasoline prices soar as a result.
"... oil-producing states are Trump red states. They're part of his coalition,"
said Joe McMonigle, senior energy policy analyst at Hedgeye Risk Management, an
investment research firm. "To have energy dominance you need higher prices to
support investment."
http://money.cnn.com/2018/04/20/news/oil-prices-opec-trump/index.html
May 7: Oil prices have surged above $70—here
are 4 key reasons behind the rally
In recent months, oil prices have risen to levels not seen in 3 ½ years,
reflecting a steady, albeit volatile, ascent to a fresh peak, after a global
glut of crude sent energy markets into a tailspin in 2014. The recent rally
comes amid the possible reinstatement of sanctions on Iran; however, a number of
factors have fueled U.S. benchmark oil’s march to a perch above $70 a barrel.
https://www.marketwatch.com/story/oil-prices-have-surged-above-70here-are-4-key-reasons-behind-the-rally-2018-05-07
May 8: President Donald Trump chose a dicey
time to crack down on Iran, the world's fifth-biggest oil producer.
Global oil supplies were already getting tight before
Trump vowed on Tuesday to exit the Iran nuclear deal and
impose "powerful" sanctions on the OPEC nation.
Energy industry insiders say Trump's tough stance on Iran will probably keep oil
and
gasoline prices higher than they would otherwise be [excellent for oil
producers, investors, and related businesses].
http://money.cnn.com/2018/05/08/investing/oil-prices-trump-iran-sanctions/index.html
May 9: Saudi Arabia could be the biggest
beneficiary of Trump’s decision, not just because from a geopolitical
perspective (Saudi Arabia has long wanted the U.S. to confront Iran), but
because any decline in Iranian supply will push up prices, dealing a financial
windfall to Riyadh without any sacrifice.
https://oilprice.com/Energy/Energy-General/Did-Trump-Just-Kill-The-OPEC-Deal.html
July 6:
Iranian Revolutionary Guard threaten to CUT OFF world from oil reserves
Following Donald Trump’s warnings of punishments for companies which purchase
Iranian oil, President Hassan Rouhani warned Tehran could soon halt exports of
oil to neighbouring countries.
Yesterday the leading commander of Iran’s Revolutionary Guard, an elite branch
of the military, said he is prepared to follow presidential orders to halt
Iranian oil exports.
Major-General Qassem Soleimani said in a letter published on Islamic Republic
News Agency (IRNA): “I kiss (Rouhani’s) hand for expressing such wise and timely
comments, and I am at your service to implement any policy that serves the
Islamic Republic.”
And Esmail Kowsari, deputy commander of the Sarollah Revolutionary Guards base
in Tehran, said: “Any hostile attempt by the U.S. will be followed by an
exorbitant cost for them.
https://www.express.co.uk/news/world/984488/oil-prices-latest-iran-sanctions-us-donald-trump-exports
July 13:
Trump Considers Tapping U.S. Oil Reserve as Prices at the Pump Rise
https://www.bloomberg.com/news/articles/2018-07-13/trump-said-to-mull-tapping-u-s-oil-reserve-as-pump-prices-rise
July 13:
U.S. and Allies Consider Possible Oil-Reserve Release
Discussions are part of a broader effort to ensure oil markets remain well
supplied amid a host of production disruptions around the world
https://www.wsj.com/articles/u-s-and-allies-consider-possible-oil-reserve-release-1531509351
July 13: Oil falls after report says Trump
is considering tapping the emergency oil reserve
https://www.businessinsider.com/oil-price-trump-considering-tapping-emergency-oil-reserve-report-2018-7
July 17:
'Cool Down': Iran Warns Trump Against Tapping US Emergency Oil Reserve
"My advice to you, Mr. President, is to avoid touching the SPR – to cool
down and give up sanctioning Iranian oil," senior Iranian oil representative
Hossein Kazempour Ardebili told Bloomberg News.
"Mr. President, as I have foreseen earlier, it seems you are resorting to the
SPR due to the fact that there is no spare capacity to cover for Iranian exports
–but there will be many repercussions," Kazempour warned.
Kazempour's remarks follow US
media reports that Washington was looking to tap into its 660-million-barrel
crude supplies, selling off between 5-30 million barrels or even more if sales
are coordinated with other oil producers. The plans come ahead of November's
midterm elections and the November 4 deadline when US sanctions against Tehran
kick into effect.
https://sputniknews.com/business/201807171066432855-iran-warns-trump-on-spending-oil-reserve/
July 25:
What happens if Trump taps the Strategic Petroleum Reserve
President Donald Trump has been talking a lot about controlling global oil
prices, tweeting about Saudi Arabia’s need to ramp up production and, during a
press conference with Russian President Vladimir Putin, posing the idea of
"regulating oil prices."
There is good reason for Trump to be concerned. His administration's plan to
sanction Iranian oil exports in November will create a significant global
oil-supply decline. Oil prices that spike too quickly have caused past economic
recessions, and the U.S. economy already is running hot ahead of midterm
elections taking place when the Iran sanctions start in November.
If Trump were to tap the Strategic Petroleum Reserve — the world’s largest
supply of emergency crude oil, 660 million barrels stored in massive underground
salt caverns off the coast of the Gulf of Mexico — it would be the first time
that an SPR release was deliberately planned in advance.
... the SPR was never officially or explicitly intended as a tool of price
management in order to reduce oil prices. Instead, it is to be used as a buffer
stock of oil in an emergency and as a deterrent against the use of oil as a
political weapon.
https://www.cnbc.com/2018/07/24/what-happens-if-president-trump-taps-the-strategic-petroleum-reserve.html
July 26:
Trump administration sets sights on Libya's oil reserves in behind-the-scenes
power play
Iran’s loss may be
Libya’s gain. The
prospect that U.S. sanctions will drastically curb Tehran’s oil exports is
feeding interest in
Libya’s oil reserves and has even sparked movement toward economic and
political reform in one of the region’s most unstable states.
As Libya endured yet
another oil blockade, which pulled nearly 850,000 barrels per day from the
world’s markets, Trump administration officials worked behind the scenes over
the past month to pressure key militia leaders, government officials and oil
executives to cooperate or face dire consequences, multiple sources told The
Washington Times.
https://www.washingtontimes.com/news/2018/jul/26/libya-oil-reserves-eyed-trump-administration-power/
August 10:
Why trump shouldn't leverage the government's emergency oil supply to
bolster the GOP
https://theconversation.com/why-trump-shouldnt-leverage-the-governments-emergency-oil-supply-to-bolster-the-gop-100708
August 19:
Conserving oil no longer necessary for US, says Trump administration
New policy threatens to undermine decades of campaigns for efficient cars and
other conservation programs
https://www.theguardian.com/us-news/2018/aug/19/conserving-oil-no-longer-necessary-for-us-says-trump-administration
August 19:
Fears for climate as Trump administration relaxes rules
on oil reserves
Criticising Mr Trump, one Democrat says: "American businesses, consumers
and our environment are all the losers under his plan."
https://news.sky.com/story/fracking-helps-us-relax-its-grip-on-oil-reserves-11477171
August 20:
The US government has approved the latest sale of crude oil from its Strategic
Petroleum Reserve, a move allowed under recent statutes that will inject
additional supplies into the world market as Washington tightens screws on Iran.
Eleven million barrels of sour crude will be offered for delivery between
October 1 and November 30, the energy department said in a notice of sale posted
Monday. The sale, if not its timing, was required under 2015 budget legislation
and a healthcare law passed
https://www.ft.com/content/841f72d6-a4a7-11e8-926a-7342fe5e173f
August 31:
Trump taps emergency U.S. oil reserve after [hurricane] Harvey
https://money.cnn.com/2017/08/31/investing/strategic-oil-reserve-harvey-trump/index.html
August 31:
Six companies, including ExxonMobil Corp, bought a total of 11
million barrels of oil from the U.S. Strategic Petroleum Reserve, a Department
of Energy document showed on Friday, in a sale timed to take place ahead of U.S.
sanctions on Iran that are expected to remove oil from the global market.
Sale of the oil from the reserve was mandated by previous laws to fund the
federal government and to fund a drug program, but the Trump administration took
the earliest available time to sell the crude under the law.
https://www.reuters.com/article/us-usa-oil-reserve/u-s-sells-11-million-barrels-of-oil-from-reserve-to-exxon-five-other-firms-idUSKCN1LG2WT
November 20: U.S. oil prices plunged to
their lowest level in more than a year after President Trump emphasized strong
ties with the Saudi Arabian government.
Crude’s slide below $54 comes in the wake of oversupply fears
https://www.wsj.com/articles/oil-slides-further-on-oversupplied-outlook-1542708887
December
3: Qatar Will Pull Out Of OPEC, As Rift With Saudi Arabia Deepens
https://www.npr.org/2018/12/03/672839704/qatar-will-pull-out-of-opec-as-rift-with-saudi-arabia-deepens
December
10: As global ecocide approaches, Trump seeks more oil in Alaska
The United States Department of the Interior issued a
notice late last month signaling its intent to “jump-start development” in
the National Petroleum Reserve in
Alaska (NPR-A), part of a 23-million-acre stretch of oil-rich natural
habitat that makes up the largest tract of undisturbed land in the United
States.
The notice, the latest effort by the
Trump administration to
increase oil exploration and mining activities on ecologically sensitive federal
and tribal landscapes, “envisions clean and safe development in the NPR-A while
avoiding regulatory burdens that unnecessarily encumber energy production,
constrain economic growth, and prevent job creation.”
The Washington Post
reported that it will take “about a year” to create a new plan for
extracting oil reserves from NPR-A, according to Joe Balash, assistant secretary
of land and minerals at the Bureau of Land Management (BLM).
The 11-million-acre NPR-A site represents roughly half of a larger wildlife
refuge originally set aside by President Warren G. Harding in 1923. It also
falls within the ancestral homelands of the Gwich’in Nation of Alaskan Natives,
an indigenous community that uses NPR-A lands to hunt porcupine caribou herds
that frequent the area.
Bernadette Demientieff, executive director of the Gwich’in Steering
Committee,
told The Washington Post, “The [Trump] administration has made my
people a target. We will not stand down. We will fight to protect the porcupine
caribou herd…every step of the way.”
https://archpaper.com/2018/12/as-global-ecocide-approaches-trump-seeks-more-oil-in-alaska/
-- 2019 --
-- 2020 --
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