Neoliberalism, My Ass

[That Guy 888]

23. When the Saudi's "opened up the spiggot" they shut down a lot of the fracking in TX.

There are start-up and shut-down costs involved in fracking. When Saudi Arabia saw us cutting into there profits, they increased production until the US frack field operating costs exceeded the potential profits.

It would be more sensible to at least have a plan for all of this before we just pull the plug and to make fracking safer until we can transition to renewables.

I think it would be more sensible to figure out how fracking could be done without causing earthquakes or contaminating the drinking water of the communities around the frack fields. You can live with higher oil prices(like we did during *'s pResidency), you can't live without water.

And who says the US will get the oil from fracking anyways?

The U.S. is poised to lift a 40-year ban on exporting oil.

Lawmakers are close to authorizing oil exports as part of a broader $1.1 trillion spending and tax bill working its way through Congress. Sources told CNN the compromise measure, which is needed to avert a government shutdown, includes a provision that would roll back the export restriction. <snip>

... U.S. refiners want to keep it in place because they've benefited from being able to buy oil at the cheaper domestic price and then sell it at the higher global price.

The U.S. Energy Information Administration has analyzed the outcome and expects that refiners would cut jobs and suffer a loss of $22 billion in annual profits by 2025 if the ban is lifted. <snip>

...Environmental groups also want to keep the ban in place.

"Our climate and communities cannot afford the hazardous oil production that would come with lifting the crude oil export ban," a conservation group that includes the Sierra Club wrote in a recent letter to Congress.