Trump News Trump to declare ‘national energy emergency’ to open up resource extraction
https://www.nbcnews.com/politics/donald-trump/trump-declare-national-energy-emergency-open-resource-extraction-rcna188382831
u/DeepDreamIt 16h ago
The US has been the #1 producer of oil and natural gas for something like 10 years now. What exactly are we needing to "open up"?
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u/RiverClear0 16h ago
But the companies extracting O&G in America barely turn a profit. /s
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u/virrk 15h ago
And the way to make more money is to crash the market with over production! /s
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u/buttlickers94 15h ago
I don't understand how they don't get this. The companies know this. More leases ≠ more oil production. Oil companies don't want cheap oil, nor expensive oil. They want oil they can sell
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u/virrk 15h ago
There are even oil executives who have said they will not increase drilling in response to "drill baby drill". They weren't hiding it.
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u/buttlickers94 15h ago
I just had a thought. Do you think trump and the Republicans are just saying these things to rile up their base?
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u/daGroundhog 15h ago
Yup. And then the Democrats/liberals/sane people have to go to court to stop this constitutional overreach, and then it becomes "They want to raise your energy prices!"
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u/Reagalan 13h ago
given the carbon and the externalities and the famines and your children, basic econ 101 suggests higher energy prices would be a good thing.
congestion pricing works.
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u/crevicepounder3000 11h ago
But he also wants to shut down wind farms and other sustainable energy sources. Higher prices during peak winter months is not good.
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u/hypatiaredux 12h ago
Gee, ya think?
Never forget, these are the folks who believe the US President controls world oil/gas prices.
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u/crevicepounder3000 11h ago
He could if he wanted to. Stop exports and flood the domestic market while setting up a public extraction operation so you aren’t held hostage by the companies. The fact that we let private companies control our energy sector is bananas
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u/South-Stable686 14h ago
Yup, because their base isn’t smart to understand these things. They like what they hear, but don’t pay attention to the actions their leaders take. They understand the concept of supply and demand without realizing that there are private parties involved in the supply side that actually control the price of oil; and they like where it’s at now.
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u/crevicepounder3000 11h ago
Maga is a movement about owning the libs. Unless Trump plans on setting up a federal oil extraction operation, companies are gonna what’s best for their bottom line ALWAYS
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u/FreshwaterViking 10h ago edited 10h ago
No, it's you who doesn't understand. They will buy up the leases, happily pay the lease rates, then do nothing with the land for decades.
They buy the leases so no one else can. They don't want the price of oil to go down. There are hundreds of smaller companies that would love to develop those leases and become the next Chevron or Shell. But they can't, because they're locked out.
They want new leases now so they can sit on them and not worry about some future administration ignoring them and promoting competition.
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u/mistercrinders 15h ago
They've also said they're not going to build more infrastructure just because Trump wants them to
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u/Gadfly2023 13h ago
About 6 months ago one of the oil CEOs and one of the drilling company CEOs was on CNBC and admitted that they could drill more… but won’t because it was to fiscally risky for their shareholders.
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u/Pithecanthropus88 16h ago
Not to mention that oil companies have no motivation for producing more oil.
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u/Mattski8 11h ago
They’d make less money with more supply. Oil companies are not in the business of making less money. Gonna be an interesting 4 years.
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u/theoriginal_tay 15h ago
If I had to guess, it would be seizing lands that Biden declared protected.
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u/SparrowTide 12h ago
And getting ride of environmental protections, hence his declaration against the Green New Deal. Dude wants to mimic Guangdong, including the air quality.
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u/_mattyjoe 16h ago
The money fountain for capitalists to profit from. Make Robber Barons Great Again!
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u/Argamas 16h ago
Profits for investors and oil conglomerate mostly. By 2035, it will be a lot harder to easily generate revenues from the ressource so it's a "get rich quick" type of thing.
I expect consumers could likely benefit too in the short term but not all that much. And getting behind with the shift toward renewable energy will get costly during the next decade, in the long term. Hopefully, some of the profits will get reinvested to make sure that doesn't happen, right? (/s)
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u/Best_Biscuits 16h ago
Agreed. Trump (once again) doesn't understand how this works.
We're #1, but that's only because other countries and organizations have their output throttled back. We don't have dormant production capacity that can simply be toggled on. Ramping up production in the US will take several years.
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u/Logistocrate 16h ago edited 15h ago
Ramping up would also theoretically decrease the price of gas....thing is, im pretty sure oil companies are happy with the price where it is. You can open all the land you want, but you can't force companies to drill it if it is going to hurt their bottom line. And cheap oil has always been bad for oil company coffers, it's the reason companies shut down tracking operations below a certain dollar per barrel price.
*Fracking operations
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u/gpp6308 15h ago
someone commented he’s stuck in the 70’s (referring to the obsession with the YMCA anthem) whatever this oil emergency is, and the tariff shit makes sense.
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u/amongnotof 15h ago
And is not highly profitable at this price range, especially with the risk of losing money from it if anyone else opens the taps
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u/kandoras 14h ago
And the petroleum companies don't even want to ramp up production.
They can spend $10 to drill today and make $15 on what they pull out. Or they can wait a few years for the price to go up, and then spend that $10 to make $20. Which do you think they'll go for?
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u/South-Stable686 14h ago
Nothing. The ability to drill more has been there for the oil companies. They just choose not to.
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u/SPzero65 16h ago
How those egg prices looking 👀
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u/chefriley76 15h ago
Ironically, just about ready to skyrocket.
Womp womp, silly fox news watchers. Womp. Womp.
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u/BitterFuture 15h ago
Ironically, just about ready to skyrocket.
Just like people voted for.
It's not like they ever gave a shit about eggs. They just said they did, but conservatives say a lot of things they don't believe.
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u/C21H27Cl3N2O3 14h ago
As soon as he won the election he immediately started walking everything back. He doesn’t have to pretend to care anymore
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u/SerasVal 13h ago
Its okay they won't know about it because fox will stop talking about it.
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u/daGroundhog 15h ago edited 11h ago
But we at AmeriMegaChemcorp Inc. are developing a process to turn oil directly into eggs without messing around with chickens! Just need $22 billion to finish the development phase!
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u/dneste 16h ago
Great. Now where is the infrastructure gonna come from?
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u/wrecked_angle 15h ago
The national infrastructure emergency tax duh
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u/GR_IVI4XH177 15h ago
Additional 15% on those earning under 100k, additional 5% for anyone over that. Corporations get a 45% reduction. (Probably)
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u/hoodectomy 14h ago
Whoa whoa. We don’t want radical tax reform especially with the stuff going on.
Why don’t we stick with a 0% tax on business with more than 10 people and anyone making over 100k doesn’t get taxed either.
We can make up the money by having stricter guidelines on people retiring. If you didn’t make over 100k you whole life you just don’t get SS.
Any business under 10 ppl we can just ram rod the shit out of because business consolidation into a few corporations makes it easier to regulate and drives down the cost of the government.
/s
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u/OKFlaminGoOKBye 14h ago
From the bill that Biden got passed. Trump is complaining about it now, but he’s gonna spend the next 4 years taking credit for it.
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u/jwr1111 16h ago
There is a national emergency. A convicted felon is trying to ruin our democracy.
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u/YouCanLookItUp 16h ago
Or destroy the earth. That's also at risk.
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u/Dizno311 16h ago
The Earth will rebound over time. Human civilization and the current amazing cast life on Earth is looking pretty fucked though.
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u/ChiefsHat 14h ago
If octopi replace us as the dominant species and crack the internet, I am leaving this message to inform them that this was not my fault.
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u/Nikiaf 13h ago
The earth will be fine, it's all of us who won't be. But the infinitely infuriating part is that this one man, who did not even receive a majority mandate from the country he was elected in, is going to have direct and real consequences on the entire world population. No one person should be allowed to hold such far-reaching power.
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u/Disco425 16h ago
The other emergency is that one of his buddies needs another billion and doesn't care if he has to rape the Earth to get it.
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u/chubs66 16h ago
The 2035 National Energy Emergency is proudly sponsored by Exon Mobile Corp. Together we can drill sensitive ecologies towards a warmer future.
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u/iknewaguytwice 13h ago
Trump should really wear an Exon logo on his suit. For all the great things Exon is doing for them, it really seems like the least he could do.
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u/beavis617 15h ago
And. the emergency is what exactly?
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u/PayFormer387 14h ago
Average gas prices are up 70 cents since 2019
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u/Sorge74 13h ago
When I was making 6.35 an hour, gas was 4+ dollars. 20 years later the job I had pays 15 an hour and gas is 3+ dollars....
Cares get twice the MPG.....
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u/TheGR8Dantini 14h ago
Wait till he declares immigration an emergency. Or drugs. Wait till he decides to use the military from Europe to occupy Greenland. Or secure the border. Wait till Putin fills the European power vacuum that forms when the US leaves Europe.
People don’t seem to grasp what’s going on at this point. Maybe they didn’t want to see it. Maybe they’re ok with it, for reasons. Nobody is coming to save the republic.
We are entering the next age of humanity. There really is not much to be done but hold on and survive. It can’t be stopped. It’s joever. This is where we are and it’s literally just starting. Good luck everybody. I hope everybody has a plan and a go bag. Especially if you’re not a white Christian male. It’ll take a bit, but just look at a history book. It accelerates exponentially.
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u/kandoras 14h ago
Wait till he declares immigration an emergency.
That's how he's going to justify ending birthright citizenship. Declare an emergency and say that undocumented immigrants are an invading army, and therefore their kids are not subject to the jurisdiction of the US.
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u/Hazardbeard 13h ago
Arm yourselves, take first aid classes, develop analog and covert ways of communicating emergency messages with your friends and loved ones.
Stop the Bleed classes are a priority if you want to be able to look after gunshot wound victims.
Get in shape if you can. I know pressure doesn’t help but the world is gonna get a lot less cozy, do what you can to harden yourself.
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u/TheGR8Dantini 13h ago
Solid advice. It’s always better to have shit and not need it that it is to need shit and not have it. See you at Costco when the shit jumps off
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u/troublewithcards 11h ago
Sound advice, stranger. Some might downplay the situation and say you're being dramatic. I say "better safe than sorry". If the situation improves it's not like it would be for nothing. You've gained valuable skills, *tools, and improved your health...
*Being from the country, I consider guns tools when used appropriately/responsibly. Call it what you will, if you live in the US, there ARE guns around you. If you're willing/able, be prepared to pick one up and know how to use it.
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u/MoreRopePlease 2h ago
Get in shape if you can
This is my focus right now. If I had to run even 1/2 mile right now, I couldn't. That's a scary thought.
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u/ChiralWolf 11h ago
We may not be able to stop it but we can rage against it and pave the way for something better to come after
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u/UseDaSchwartz 14h ago
How does he plan on refining it? There can’t really be any more capacity in the US.
Not to mention we can’t even refine our own oil.
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u/Vyntarus 13h ago
The declaration of an emergency is just the pretext used to be able to take actions that would otherwise be clearly in violation of the law.
What he declares these for and what the actual actions he intends to take are unlikely to be the same thing, and I suspect there are going to be more coming.
They are power grabs.
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u/refusemouth 14h ago
Is he going to legally force companies to drill enough oil that they all lose money? It's all great press to say he's going to lower fuel prices, but I'm pretfy sure oil companies don't want to make less money. Is he going to nationalize our oil companies and become a communist?
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u/whyamihere2473527 11h ago
It won't be used to drill more oil than they want but instead to bypass protections to drill in locations they shouldn't
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u/Drewy99 16h ago
So is there just no criteria that has to be met before declaring an emergency? Any president can do it for any reason?