Biden Administration Quietly Approves huge Texas oil Export Project

I posted another thread yesterday related to oil and that one of the reasons Diesel is so expensive in the USA is because the USA diesel refiners are using biomass, animal fats and used cooking grease to make diesel but because of the title the thread fizzled. Heres a snippet on it from Growth Investor dot com

First, we’re adding three refinery stocks to the High-Growth Investments Buy List. The reality is there is a national diesel and distillates shortage in the U.S. right now. The shortage has been caused partially by the shrinking trade deficit since the U.S. has had high petroleum and refined products exports recently. The shortage has also been exasperated by the fact that many U.S. refineries are now making “green diesel” from animal fats and organic waste. As a result, U.S. diesel production has fallen by 400,000 barrels per day – and inventories are now at historic lows for the winter season.

So whatcha think about this one? You do realize that the USA has the LARGEST oil and natural gas reserves in the world? Right? Heres one link about it

U.S. Has World’s Largest Oil Reserves

Here's what the Feds wrote about it; The Permian Basin

Permian Basin Oil and Gas Assessments

So does it feel good to be an American again? Just a little bit? So if uncle Joe is so corrupt and in China's back pocket he allowed this happen. So provide a countermeasure as to why hes doing this?

Biden administration quietly approves huge Texas oil export project

The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity. The approval by the Department of Transportation’s Maritime Administration was filed in the federal register on Monday without any public announcement, a day after the United Nations’ annual climate conference wrapped up in Sharm el-Sheik, Egypt. Earthworks, an environmental nonprofit, spotted the filing and publicized approval of the Sea Port Oil Terminal on Tuesday.

Some assorted background noise from the cow farts just passing gas in the winds?

“President Biden cannot lead on combating climate change, protecting public health or advocating for environmental justice while simultaneously allowing fossil fuel companies to lock-in decades of fossil fuel extraction,” the group’s senior policy advocate, Kelsey Crane, said in a statement.

Oh yes he can! Plus as always just follow the money! GO GREEN

a reply to: Waterglass

I think your cause and effect are backwards.

US diesel production isn’t down because they’re producing it from bio sources. They’re producing it from bio sources because the ability to refine crude into diesel is down.

The east coast lost one of the biggest diesel refinery in 2019 to a fire in Philadelphia.

The Midwest in 2022 lost a 103 year old refinery to a fire as well.

I’m sure there are some out there that sees this as nefarious and planned, maybe so. Or maybe it was a neglect of infrastructure in an industry that operates on razor thin margins against the global market.

When asked about President Biden declaring "No More Drilling!", his energy guy says:

Hochstein said that "eventually" the country would be phasing out the use of oil and Kernen pressed him on what he meant by eventually.

"So we understand that the economy in the United States and around the world is going to be using oil for several more years as we transition and look at our own goals.

Our goal has been to have 50% of new car sales by 2030 be electric vehicles.

That tells you that — how much longer we still see oil in the market, and that’s just 50% of new car sales. By 2035, we're probably going to go, even if we go to 100% of new car sales being electric, you still have the entire fleet there.

You know we make other things from oil as well," Hochstein said.

Source: www.foxnews.com...

He's using Fetterman-Biden speak, but what does it boil down to for American consumers?

a reply to: CriticalStinker

I think your cause and effect are backwards.

Mine? I subscribe to Louis G. Navellier Growth Investor. So he wrote that. Nah, I would rather trust someone who manages $1.0 billion versus some guy on the street.

Louis G. Navellier is Chairman and Founder of Navellier & Associates in Reno, Nevada, which manages approximately $1.0 billion in assets.[1] Navellier also writes five investment newsletters focused on growth investing: Growth Investor, Breakthrough Stocks, Accelerated Profits, Power Options and Platinum Growth Club, and can frequently be seen giving his market outlook and analysis on Bloomberg, Fox News, and CNBC.

Louis Navellier

a reply to: carewemust

In my opinion he was right to stop extending drilling offshore and to stop the Canadian pipeline as its all basically unnecessary.

The Feds want all drillers to draw oil from the Permian Basin. We have more than all others. The gobblegook is gobblegook as to appease the greenies.

It comes out that as for some reason people on this planet don't want to be caught lying.

In the end the price for Americans will probably be the lowest in the world. In brief its vital to The National Security of USA while we transition to Electric. So were playing against CO2 and China.

So load up on some USA Lithium miners? Two I would look at are LAC and LTHM.

a reply to: Waterglass

First line from your blurb quoting him-

First, we’re adding three refinery stocks to the High-Growth Investments Buy List.

He gave you his intent off the rip.

It’s easier to refine bio than crude. There are small bio refineries near me, slightly larger than the gas station that pumps it. The increase is because demand is high, overhead for startup is low, and it’s going to be years before new crude refineries come online.

You don’t have to believe either one of us. Look up how many refineries were destroyed in the past 5-10 years and make your own decision.

a reply to: CriticalStinker

There are lots of BIO refineries is gthe USA today. I was shocked when I looked into it

Okay, here's what I'm understanding.

Biden ran on a 'end oil in America' platform.

Biden made clear – he wants to "end" fossil fuels, saying they would have "no place" in a Biden presidency.
Biden has said he would "love to make sure we can't use any oil or gas, period" and that he would "make sure" fossil fuels and fracking are "eliminated".
Biden said he would ban any new fracking or future oil and gas development on federal lands.
Biden has proposed completely eliminating oil, gas, and coal from the U.S. power grid by 2035.

"In July 2019, Biden Said That There Would Be No Place For Fossil Fuels And Fracking In A Biden Administration, Saying "We Would Make Sure It's Eliminated."

DANA BASH: "Just to clarify, would there be any place for fossil fuels, including coal and fracking, in a Biden administration?"

JOE BIDEN: "No, we would -- we would work it out. We would make sure it's eliminated and no more subsidies for either one of those, either -- any fossil fuel."

www.presidency.ucsb.edu...

In September 2019, Biden Vowed To "End Fossil Fuel." JOE BIDEN: "But kiddo, I want you to just take a look, ok. You don't have to agree, but I want you to look in my eyes, I guarantee you, I guarantee you we are going to end fossil fuel and I am not going to cooperate with them, ok." (Joe Biden, Remarks At A Campaign Event, New Castle, NH, 9/6/19)

Okay, got it.

Now why would he want to do this? Apparently, it's his effort to curb planet-warming carbon emissions.

In the process of stifling fossil fuels in and for Americans, he is causing collateral damage to our economy and the people.

So now, NOW, he wants to cast aside his high ambitions to cut carbon emissions. Yippee. Yay for America. Oh wait.......

The Biden administration has approved plans to build the NATION'S LARGEST OIL EXPORT TERMINAL off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil EXPORT capacity.

******

In its 94-page decision, the Maritime Administration wrote, “The construction and operation of the Port is in the national interest because the Project will benefit employment, economic growth, and U.S. energy infrastructure resilience and security. The Port will provide a reliable source of crude oil to U.S. allies in the event of market disruption.”

But not for the interest of Americans. Oh no, he'll pollute our country so he can SELL OIL TO OTHER COUNTRIES. This won't make America oil independent. And we'll continue to pay higher prices for our own use of IMPORTED oil.

Where does US get most of its oil?

In 2021, Canada was the source of 51% of U.S. gross total petroleum imports and 61% of gross crude oil imports.
The top five sources of U.S. total petroleum (including crude oil) imports by percentage share of total petroleum imports in 2021 were:

Canada 51%
Mexico 8%
Russia 8%
Saudi Arabia 5%
Colombia 2%

And who's going to 'own' and profit from this export terminal??????????

a reply to: Waterglass

August 26, 2023

Flip/Flop Dementia on Display

And just like that...

Biden has once again restricted drilling and exploration: www.foxnews.com...

-Worst President Ever!-