A Quote by Harold Hamm
The oil patch pays good. They're decent jobs paying between 50 and 70 thousand a year. Fracking has a big impact on the oil consumption in the United States.
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Although the United States cannot unilaterally lower the price of oil, it can reduce its consumption by using oil more efficiently and by developing alternative sources of fuel.
My fear is that the global consumption of oil is going to increase, but European oil consumption has already reached its peak. The amount of oil available globally, I think, has already peaked.
Opening the Arctic National Wildlife Refuge stands to not only increase the United States' oil reserves by nearly 50 percent, but it will create thousands of good U.S. jobs.
Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking investments made. A lot of companies that have gone into fracking are heavily debt-leveraged, and are beginning to default on their loans. The next wave of defaults that banks are talking about is probably going to be in the fracking industry. When the costs of production are so much more than they can end up getting for the oil, they just stop producing and stop paying their loans.
It's important to understand that oil and renewables do different things. Wind and solar are for power generation, so they don't replace oil. About 70% of all oil produced is used for transportation fuel. Renewables are good projects, but they don't get us off of foreign oil.
The problem is not the oil, but what they do with the oil. The United States is the biggest spender of oil and of all the planet resources.
America is addicted to oil and increasing amounts of this oil comes from abroad. Some of the nations we depend on for oil have unstable governments or are hostile towards the United States.
The United States is the biggest spender of oil and of all the planet resources. Oil is a very valuable resource for life - electric heaters. We must have to transition ourselves to a post-oil era.
Assuming that Iran could become the only oil producer unable to export its oil is a wrong assumption... The United States will never be able to cut Iran's oil revenues.
Government experts have estimated that ANWR reserves would only provide enough oil for six months of U.S. oil consumption. In addition, the oil industry itself has estimated that it would take 10 years to bring this oil to the market.
The fact that we're spending $700 billion a year on oil is actually a good thing; it means we have the prosperity to do it. It means that oil's being used, and oil is the fuel for the engine of freedom.
It has been estimated that 80 percent of the oil illegally smuggled out of Iraq under oil for food ended up in the United States.
No one does a better, cleaner, or environmental friendlier, than the United States, when it comes to drilling for oil, gas, coal, oil refineries and fish friendly hydroelectric.
We're supposed to believe that oil had nothing to do with it, that if Iraq were exporting pickles or jelly and the center of world oil production were in the South Pacific that the United States would've liberated them anyway. It has nothing to do with the oil, what a crass idea. Anyone with their head screwed on knows that that can't be true.
The oil boom is providing Montanans an opportunity for good paying jobs.
Our oil problems are only going to get worse. Our trade balance is only going to get worse. So we have to slow the growth of U.S. oil consumption, particularly imported oil consumption.
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