U.S. bill calls for increased US oil production to displace Iranian oil

[waheed gul]

The Hill – Sen. James Inhofe (R-Okla.) will introduce legislation Wednesday calling for increased drilling on U.S. federal lands to displace Iranian oil on the world market, according to a copy of the bill obtained by The Hill.

The bill requires the president to establish enough “Iranian Oil Replacement Zones” on federal lands to produce 1.25 million barrels of oil per day — approximately the amount Iran exports every day.

An Inhofe aide told The Hill that would divert oil the U.S. imports from Saudi Arabia and elsewhere to nations that still buy Iranian crude, such as China, India and Japan.

The goal is to give President Obama wiggle room to enforce full sanctions on Iranian oil by ending waivers awarded to some nations.

The release of the bill comes as Sens. Robert Menendez (D-N.J.), the chairman of the Senate Foreign Relations Committee, and Mark Kirk (R-Ill.) consider legislation regarding Iranian oil, according to media reports.

The aide said Inhofe wants to take the bill through the Senate Energy and Natural Resources Committee.

The bill continues calls from Republicans to expand oil and gas drilling on public lands, as they have argued the White House has restricted such activity. But getting the legislation through the Democratic-controlled Senate could prove challenging.

Western countries have mostly embargoed Iranian oil exports in hopes of coaxing it to drop its nuclear-enrichment program, as the U.S. and others worry Iran is looking to make nuclear weapons. With about 70 percent of Iran’s revenue coming from oil, the idea is to keep a Western foot on the Iranian economy’s throat until its leadership acquiesces.........
U.S. bill calls for increased US oil production to displace Iranian oil | The News Informer

 

[bala]

Funny that, Iran is supposed to have sanctions yet some nations have "waivers".

Either put a full on sanction or remove it.

Lol @ the US attempts to save its ever crumbling economy. If the US did have oil it wouldn't invade the Middle East via over and covert means (for the idiots on here - direct = Iraq, indirect = Syria). Next target is Iran.

 

[armchairPrivate]

All those fracking will no doubt fuk up the environment in no time. Underground water pollution. Water table depletion. Sink holes. Minor earthquakes.

 

[anon45]

Funny that, Iran is supposed to have sanctions yet some nations have "waivers".

Either put a full on sanction or remove it.

Lol @ the US attempts to save its ever crumbling economy. If the US did have oil it wouldn't invade the Middle East via over and covert means (for the idiots on here - direct = Iraq, indirect = Syria). Next target is Iran.

Lol you seriously have no clue.

Huge boost in US oil output set to transform global market | 89.3 KPCC

 

[cloud]

Or rather, Now they can't sell enough gulf oil(via their proxies) to keep their absolute lead in the world, which apparently needs much more mullah.

Also the advancement in technology has made it very much possible to have good alternative in near future (i. e. Lithiums-air batteries, which have almost same energy density as oil or may be hydrogen fuel cell etc.). So the oil may not look as much profitable business as it seems for Oil rich countries if they wait for too long. Although not certain but that is the point. Suppose if we have the Li-air batteries developed in this decade which can be a good alternative for automobiles, then it will change the world politics to something we have not even given a thought. We can also be certain that if such kind of development happens(in west or anywhere having more oil), they will surely hide it until they have made enough mullah to their satisfaction. And such batteries will be a game changer for military (especially for the submarines, tanks(noise and thermal reduction), so that's another point for not sharing such techs until they have enough oil to sell.

 

[BeyondHeretic]

I think this a sign that US will continue to isolate herself from the world and her affairs in the decades to come , she will produce her own oil and consume it all , maybe they also get to export some surplus to Israel too

 

[Wright]

Or rather, Now they can't sell enough gulf oil(via their proxies) to keep their absolute lead in the world, which apparently needs much more mullah.

Also the advancement in technology has made it very much possible to have good alternative in near future (i. e. Lithiums-air batteries, which have almost same energy density as oil or may be hydrogen fuel cell etc.). So the oil may not look as much profitable business as it seems for Oil rich countries. Although not certain but that is the point. Suppose if we have the Li-air batteries developed in this decade which can be a good alternative for automobiles, then it will change the world politics to something we have not even given a thought. We can also be certain that if such kind of development happens(in west or anywhere having more oil), they will certainly hide it until they have made enough mullah to their satisfaction.

What do mullahs have to do with the discussion?

 

[cloud]

What do mullahs have to do with the discussion?

Mullah == Money in desi slang..

 

[gambit]

I think this a sign that US will continue to isolate herself from the world and her affairs in the decades to come , she will produce her own oil and consume it all , maybe they also get to export some surplus to Israel too

No, we will not.

We will work with the rest of the world to break the ME's back regarding oil.

The Real Oil Problem by Morris Adelman :: SSRN

Abstract:

There is not, and never has been, an oil crisis or gap. Oil reserves are not dwindling. The Middle East does not have and has never had any oil weapon. The real problem we face over oil dates from after 1970: a strong but clumsy monopoly of mostly Middle Eastern exporters cooperating as OPEC. The biggest exporters have acted in concert to limit supply and thus raise oil price - possibly too high even for their own good. The output levels they establish by trial-and-error are very unstable. OPEC has damaged the world economy, not by malice, but because its members cannot help but do so.

Adelman flat out opined 'Never.' when once asked if the world will run out of oil. And it looks like technology is bearing him out, not about oil specifically even though the question was about oil, but he was talking about fossil based fuel as well as natural gas from any sources.

So now not only is there shale oil, but also methane hydrate...

Pictures: Unlocking Icy Methane Hydrates, Largest Fossil Energy Store

The figure often cited, 700,000 trillion cubic feet of methane trapped in hydrates, is a staggering sum that would exceed the energy content of all oil, coal, and other natural gas reserves known on Earth.

Europe and Asia will eventually decrease dependency on ME oil. This will break the ME's stranglehold on the world's energy sources. The notional West will surge ahead while the ME will regress back into the 7th century. Inshallah.

 

[bala]

Lol you seriously have no clue.

Huge boost in US oil output set to transform global market | 89.3 KPCC

"No I certainly dont" (sense the sarcasm kid? )

Oh the US markets "always" transform the global markets.

China is doing absolutely nothing or has done nothing. Neither has India. Iran and Saudi Arabia have definately not.

Yet we have "sanctions" that are not sanctions as there are "waivers" to still buy Iranian oil.

Get a grip and wake up you brainwashed fools.

Let me put it this way for you with those with less than IQ of 20.

A sanction is like a penalty like in school when you had a detention . Now, if the rules say if this child has to be home by 4pm he cannot do his punishment i.e. detention of 45mins when school finishes at 3.30pm.

So it is a bit pointless of having detentions as all the kids wil simply say "I got be home by 3.45 or 4pm".

Bet you still dont get it. Funny how fools learnt to use the computer...