Monday Night Quick Hits: Shale oil helps revive East Coast refineries

And Obama keeps hammering on the green energy scam:

A year ago, the shutdown of several refineries serving the Northeast and the possibility they would not reopen threatened to boost New England’s already­ high gasoline prices by as much as 15 cents a gallon. But an influx of cheaper crude oil extracted from shale rock formations in the United States has helped save most of those facilities and stabilized gas ­prices.

The revival of the East Coast refineries is another example of how the controversial drilling process known as hydraulic fracturing, or fracking, is changing the energy equation for the region, nation, and world.

Just as fracking opened vast reserves of natural gas over the past decade, it is now unlocking crude oil trapped in shale deposits. It is so dramatically increasing domestic production that the United States is projected to surpass Saudi Arabia as the world’s biggest oil producer by 2017.

The influx of this domestic crude, known as “tight oil,” has allowed East Coast refineries to decrease their reliance on more expensive foreign oil, increase profit margins, and regain their economic competitiveness, refinery operators say. They estimate the domestic crude cuts oil costs by a few dollars per barrel, which can have a huge impact on their bottom line.

Too bad the left is anti-economic growth…

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mars attacks 1

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Staples Center Goes Vegetarian for Morrissey

All vendors at the March 1 show were mandated to ban “flesh as food” by the singer, a longtime animal activist and vegetarian, who also urged the venue to close down its McDonald’s outlet. Staples Center agreed.

According to a press release by Morrissey’s representative, the same request previously had been denied to Paul McCartney. Said Morrissey, “I don’t look upon it as a victory for me but a victory for the animals.”

I’ll skip that show…

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Comments
  • Bunkerville February 19, 2013 at 8:48 am

    I would appreciate hearing the source that the refineries are doing well. Last week or so, I heard another one shut down in NJ. I was about to do a post on it.

    • Bunkerville February 19, 2013 at 8:49 am

      Dah, I clicked the link..this time it connected to the source.

    • steve February 19, 2013 at 5:42 pm

      Imagine if we were actually, you know, producing so much oil and natural gas that we were able to export it. It would create a ton of jobs and boost the economy.

      Too bad Democrats are anti economic growth.

  • Jim at Asylum Watch February 19, 2013 at 9:32 am

    The Council on Foreign Relations would like the government to tax oil $50 or $100 a barrel so they could have more money to spend. They want you walking or riding a bicycle. Sounds like something Obama would go for.

    • steve February 19, 2013 at 5:40 pm

      If you are riding a bicycle or walking, you are easier to control.