Page 2 - Fracking Revolution News Today

Against the intelligence committee. >> the fact opec including saudi arabia and russia cut prices because the u.s. was producing so emergency. a piece in the "wall street journal" shows almost the entire decline in oil prices comes from ramped um u.s. production. you said, were number one in the world. also 12 million barrels a day. in a position weve not been in since larger producer than saudi arabia and russia and have the most oil in the ground of any country on the planet. so its us. its no...

>> thanks. its good to see you as well. >> the presidents quoting 450 million -- >> billion, actually. >> i dont know how many jobs hes quoting. hes worried well lose the business to china and russia. but they dont make any equivalent to the military hardware and systems the saudis use. >> correct. and he has insisted that weve sold them or theyve agreed to purchase $110 billion worth of arms from the u.s. theyve purchased 14.5 billion. so thats factually incorrect. he has suggested that theyve ...

Refused to take action against saudi arabia despite the cias high confidence assessment that the crown prince ordered the murder of "the washington post" journalist jamal khashoggi. trump defended his position for economic reasons, claiming the u.s. would lose a multibillion dollar arms deal and oil prices would spike. today trump doubled down on that message, tweeting oil prices getting lower, great, like a big tax cut for america and the world, enjoy. $54, was just $82. thank you to saudi arab...

Hardware and systems the saudis use. >> correct. and he has insisted that weve sold them or theyve agreed to purchase $110 billion worth of arms from the u.s. theyve purchased 14.5 billion. so thats factually incorrect. he has suggested that theyve been creating jobs in the united states. we have much bigger trading partners than saudi arabia. theyre very much a blip on the radar screen. its true that they buy u.s. treasury bonds. they recycle their oil profits back into u.s. bonds on occasion. ...

Global economic growth and a u.s. china trade war as well as a rise in u.s. oil production and u.s. exemptions to sanctions on iranian oil. the u.s. has substantially increased its domestic oil production over the last decade. take a look at that chart. thats because of the fracking revolution. and last year only 49% of u.s. imports actually came from saudi arabia, according to the u.s. administration, 40% of american oil comes from canada. so saudi arabia is not the reason for our low oil price...

But you know, canada, mexico, china, europe, japan all much, much bigger players. much bigger impact on the u.s. economy were we to have similar troubles with those nations. >> what you and i will pay at the pump for gasoline, by how much did the saudis dictate that price? >> almost zero. if you look at whats happening in the united states, brian, the fracking revolution for which the president takes credit, has been going on since 2008. at one juncture in february of 2016 oil was as low as $26....

The pump for gasoline, by how much did the saudis dictate that price? >> almost zero. if you look at whats happening in the united states, brian, the fracking revolution for which the president takes credit, has been going on since 2008. at one juncture in february of 2016 oil was as low as $26.05 a barrel. that was low enough to get frackers to stop because it was unprofitable to drill for oil in the united states at that point. the saudis and the russians, the rest of opec, drove the prices ba...

Obama couldnt stop the fracking revolution it was so strong. he could slow it down and make it harder. what trump is doing unleashing it. >> yeah. it relates as bill was suggesting to our foreign policy. we moved away from this kind of pointles pointless argument t energy independence. there is never going to be any such a thing with global energy markets. trump has recognize you had that energy markets are global. is he using our skills in energy to establish relationships economically and stra...

Economically, strategically or both. >> economically and strategically. economically, because the united states is now beginning to export up to a million barrels of oil a day, unprecedented because of the revolution in fracking. strategically because energy secretary rick perry was talking about energy dominance. and what he means by that is the united states now exporting all of this energy out there, regarding to establish new relationships with trading partners that we havent had before. pro...

Administration and trump even obama couldnt stop the fracking revolution it was so strong. he could slow it down and make it harder. what trump is doing unleashing it. >> yeah. it relates as bill was suggesting to our foreign policy. we moved away from this kind of pointles pointless argument t energy independence. there is never going to be any such a thing with global energy markets. trump has recognize you had that energy markets are global. is he using our skills in energy to establish relat...