Drudge Retort: The Other Side of the News
Friday, August 31, 2018

The Energy Information Administration announced this month that the port district of Houston-Galveston began exporting more crude oil than it imported for the first time. Houston-Galveston exports in April surpassed imports by 15,000 barrels a day, and by May the difference had grown to 470,000 barrels a day. That port district handles more than half of all U.S. crude exports, which hit a record of two million barrels a day in May. The export boom is testament to U.S. ingenuity that has driven rapid advances in hydraulic fracturing and horizontal drilling, especially in shale rock. The breakthroughs have lowered drilling costs and put Texas's Permian Basin at the center of an oil-and-gas drilling revolution that will next year see the state producing more oil than either Iraq or Iran.

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And it comes at the the low, low cost of polluted water and geological instability

#1 | Posted by johnny_hotsauce at 2018-08-31 04:02 AM | Reply | Newsworthy 2

great news! So why then are oil prices and gas prices still higher than in 2016???

#2 | Posted by e1g1 at 2018-08-31 11:34 AM | Reply | Newsworthy 3

Fake news. The media has already told us that the Chinese tariffs are sinking this country and all of our trade deals are crap.

#3 | Posted by humtake at 2018-08-31 11:57 AM | Reply

The traffic jam in Pecos Texas, as I drive across the country is mind boggling. Hundreds of diesel oil, pipe and every other thing backed up at four way stops and the few lights that exist in what otherwise looks like the middle of nowhere. Hundreds of drill rigs and oil storage tanks going up. Frack.

#4 | Posted by bayviking at 2018-08-31 12:01 PM | Reply

great news! So why then are oil prices and gas prices still higher than in 2016???

#2 | POSTED BY E1G1

Because its being exported to make oil prices lower in OTHER countries. Go America!

#5 | Posted by Sycophant at 2018-08-31 12:29 PM | Reply | Newsworthy 2

Fake news. The media has already told us that the Chinese tariffs are sinking this country and all of our trade deals are crap.

#3 | POSTED BY HUMTAKE

What do Chinese tariffs on raw materials and manufactured goods have to do with oil exports?

Why post such stupid comments?

#6 | Posted by Sycophant at 2018-08-31 12:30 PM | Reply

"port district of Houston-Galveston began exporting more crude oil than it imported"

So just the port district exported more than it imported.

The US still imports 7,485,000 barrels of oil per day.

#7 | Posted by 726 at 2018-08-31 12:40 PM | Reply

www.eia.gov

#8 | Posted by 726 at 2018-08-31 12:41 PM | Reply

Why post such stupid comments?

#6 | POSTED BY SYCOPHANT AT 2018-08-31 12:30 PM | FLAG:

So you will have some that you can understand.

#9 | Posted by fishpaw at 2018-08-31 12:46 PM | Reply | Funny: 2

Why post such stupid comments?
#6 | POSTED BY SYCOPHANT AT 2018-08-31 12:30 PM | FLAG:
So you will have some that you can understand.
#9 | POSTED BY FISHPAW

Speaking of useless posters...

What are you going to copy and paste from Infowars today?

#10 | Posted by Sycophant at 2018-08-31 01:22 PM | Reply | Newsworthy 1

Great news everybody! We found a cheaper way to make cocaine! That means more people can have access to it and for cheaper! Isn't that awesome?

#11 | Posted by SpeakSoftly at 2018-08-31 01:23 PM | Reply

cuz what we really need is to be exporting gas rather than get the price down.

#12 | Posted by Tor at 2018-08-31 01:34 PM | Reply

#11

I'm glad you are excited about that, maybe you can figure out how to use it to make some of the following products:

Solvents Diesel fuel Motor Oil Bearing Grease Ink Floor Wax Ballpoint Pens Football Cleats Upholstery Sweaters Boats Insecticides Bicycle Tires Sports Car Bodies Nail Polish Fishing lures Dresses Tires Golf Bags Perfumes Cassettes Dishwasher parts Tool Boxes Shoe Polish Motorcycle Helmet Caulking Petroleum Jelly Transparent Tape DVD Players Faucet Washers Antiseptics Clothesline Curtains Food Preservatives Basketballs Soap Vitamin Capsules Antihistamines Purses Shoes Dashboards Cortisone Deodorant Footballs Putty Dyes Panty Hose Refrigerant Percolators Life Jackets Rubbing Alcohol Linings Skis TV Cabinets Shag Rugs Electrician's Tape Tool Racks Car Battery Cases Epoxy Paint Mops Slacks Insect Repellent Oil Filters Umbrellas Yarn Fertilizers Hair Coloring Roofing Toilet Seats Fishing Rods Lipstick Denture Adhesive Linoleum Ice Cube Trays Synthetic Rubber Speakers Plastic Wood Electric Blankets Glycerin Tennis Rackets Rubber Cement Fishing Boots Dice Nylon Rope Candles Trash Bags House Paint Water Pipes Hand Lotion Roller Skates Surf Boards Shampoo Wheels Paint Rollers Shower Curtains Guitar Strings Luggage Aspirin Safety Glasses Antifreeze Football Helmets Awnings Eyeglasses Clothes Toothbrushes Ice Chests Footballs Combs CD's & DVD's Paint Brushes Detergents Vaporizers Balloons Sun Glasses Tents Heart Valves Crayons Parachutes Telephones Enamel Pillows Dishes Cameras Anesthetics Artificial Turf Artificial limbs Bandages Dentures Model Cars Folding Doors Hair Curlers Cold cream Movie film Soft Contact lenses Drinking Cups Fan Belts Car Enamel Shaving Cream Ammonia Refrigerators Golf Balls Toothpaste and... Gasoline and other fuels

#13 | Posted by Rightocenter at 2018-08-31 01:35 PM | Reply | Newsworthy 1

great news! So why then are oil prices and gas prices still higher than in 2016???

great news! So why then are oil prices and gas prices still higher than in 2016???

cuz what we really need is to be exporting gas rather than get the price down.

...

Why post such stupid comments?
#6 | POSTED BY SYCOPHANT AT 2018-08-31 12:30 PM

Obviously because you all have no idea how OPEC works...they are terrified of the US becoming a net exporter because then we will be able to break their cartel by 1. no longer being one of their biggest customers and 2. by being able to undercut their cartel pricing. This fear is why they cut oil prices to the bone in 2015 in an attempt to force the shale and fracking companies out of business. It didn't work, and now they are terrified that their income streams will drop precipitously, which is precisely why MBS is working to diversify the Saudi economy.

The US still has a long way to go, but this is a HUGE milestone towards accomplishing exactly what you all are whining about.

#14 | Posted by Rightocenter at 2018-08-31 01:42 PM | Reply | Newsworthy 1

Cassettes. Lol.

#15 | Posted by snoofy at 2018-08-31 01:46 PM | Reply | Funny: 1

Shale oil is of a very low quality and is used mainly for heating oil and in wood preservative but thru an elaborate and expensive process can be used as diesel and jet fuels

Shale oil is not used for chemical products

In other words

Only a handful of products you list are made from inferior shale oil

HAHA!

#16 | Posted by ChiefTutMoses at 2018-08-31 02:08 PM | Reply | Newsworthy 2

bviously because you all have no idea how OPEC works...they are terrified of the US becoming a net exporter because then we will be able to break their cartel by 1. no longer being one of their biggest customers and 2. by being able to undercut their cartel pricing. This fear is why they cut oil prices to the bone in 2015 in an attempt to force the shale and fracking companies out of business. It didn't work, and now they are terrified that their income streams will drop precipitously, which is precisely why MBS is working to diversify the Saudi economy.

The US still has a long way to go, but this is a HUGE milestone towards accomplishing exactly what you all are whining about.

#14 | Posted by Rightocenter

There are 2 ways to fight the oil cartel.

1. Make our own oil, destroy the environment, and the our future.
2. Move to renewables, develop future industries and grow the economy.

You're celebrating a cheaper way to destroy ourselves.

#17 | Posted by SpeakSoftly at 2018-08-31 02:32 PM | Reply | Newsworthy 2

"Only a handful of products you list are made from inferior shale oil"

What are you talking about, shale oil makes the best toothpaste!

#18 | Posted by snoofy at 2018-08-31 03:23 PM | Reply | Funny: 1

Thank God I have RIGHOBOUTNOTHING to deflect onto OPEC for the price-fixing that our own oil companies are engaged in. You curiously neglected to mention how the Trump administration is backing away from renewables. I suppose that is OPEC's fault too.

#19 | Posted by e1g1 at 2018-08-31 04:45 PM | Reply | Funny: 1 | Newsworthy 1

Your collective naivete is astounding, even the keyboards that you are typing on are made, in part, from petroleum.

OPEC and Russia set the benchmark price for crude and the oil companies go from there. If OPEC doesn't have the ability to tighten supply, they can't set prices. If the US becomes a net exporter, that power goes away.

Shreek, go ahead and flick the renewables switch any time now as you and e1 think that can be accomplished immediately, that will get us off oil in a matter of days, if not weeks...

TFF.

#20 | Posted by Rightocenter at 2018-08-31 07:08 PM | Reply | Newsworthy 1

#20 - Your "collective naivete" is a tell.

прибирать

#21 | Posted by getoffmedz at 2018-09-01 12:11 PM | Reply

I don't need any synthetic rubber speakers or enamel shaving cream.

#22 | Posted by grumpy_too at 2018-09-01 12:55 PM | Reply

--I don't need any synthetic rubber speakers or enamel shaving cream.

You don't need a keyboard, either.

#23 | Posted by nullifidian at 2018-09-01 01:14 PM | Reply

#16 | Posted by ChiefTutMoses You don't know what you are talking about. Learn something about the refining process before you parrot some fake news. Shale oil is heavy and has more solids, and it is more expensive to refine, but that doesn't make a big difference, learn what a cracking unit does. Secondly most of the oil being produced in the fracked fields is not shale oil, some of the new fields are-but most are older fields. Conventional drilling only removes about 50% of the oil in a deposit. The technology had grown due to demand and now we can recover much more.

#24 | Posted by docnjo at 2018-09-02 01:40 AM | Reply

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