More on the Future of Oil, and Rand Paul's Proposal to Export Natural Gas

Best Peak Oil interview in months. http://t.co/p1bJDjVlct

— Richard Heinberg (@richardheinberg) February 17, 2014

'Peak is Dead' and the Future of Oil Supply."

Dan Dicker, an oil trader, was on All In With Chris Hayes tonight (10 March) to discuss Rand Paul's proposal on Fox News Sunday to drill everywhere for petroleum*. Chris noted the irony of Rand Paul's pro-drilling stance, as he represents a state where coal is the main energy source. In other words, fracking has displaced coal.

Dicker says not only is it unprofitable to export liquefied natural gas, high prices for LNG are not guaranteed. Most of all, the United States risks becoming a petrostate like Venezuela or--Russia, using petroleum as political leverage.

Again, I'll try to compile some of the CPAC material about fracking for freedom soon.

11 March update. From CounterPunch: "Up in Smoke: A Record 36 Percent of North Dakota Fracked Gas Flared in December.

* From the Fox News Sunday transcript (linked above):

PAUL: ...The other thing is Putin needs to be warned, and I'm perfectly willing to tell him, that if he does occupy Ukraine, it will be chaos for him and for the world. If he creates a Syria out of Ukraine, what's going to happen is 80 percent of his oil and gas is going through Ukraine. It will be a disaster for him. And so, he needs to be fully aware of that.

The other thing I've said is that I would do something differently than the president because that would immediately get every obstacle out of the way for our export of oil and gas, and I would begin drilling in every possible conceivable place within our territories in order to have production that we could supply Europe with if it's interrupted from Ukraine.