Posts Tagged ‘energy independence’

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Terror finance progress: suggested news reading

April 23, 2015
  • Judge denies Arab Bank’s request to throw out a verdict against it… more>>
  • The feds have busted 5 people and 4 companies for illegal shipments to Iranmore>>
  • The U.S. passes Saudi Arabia in oil production and is poised to become energy independent in 4 years… more>>
  • A Hamas treasurer has reportedly been arrested… more>>
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Fracking lets us ditch Saudi oil to use our own

September 26, 2014

As part of the run-up to Money Jihad’s five-year anniversary, we’re looking back at five important videos from over the past several years about the financing of terrorism.

Last week we looked at money that has been pumped into the Gulf monarchies in oil royalties that they have turned around to use for terror for decades to placate their own Wahhabi domestic religious/political partners.  But what are we going to do about it? Drill our way out. U.S. energy independence from Arab oil, largely driven by technological innovation through hydraulic fracturing, may be the biggest strategic game-changer in the global balance of power since World War II.

From a Fox News interview last year with the Wall Street Journal’s Steve Moore and national security analyst KT McFarland:

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Top terror finance stories of 2013

December 30, 2013

From massacres on the streets of Syria to the streets of Boston, 2013 has offered far too many illustrations of how terror-borne bloodshed is financed:

  1. Sunni and Western powers risk funding Syrian rebels despite their Al Qaeda allegiance
    Saudi Arabia, Qatar, Turkey, the U.S., U.K., and France have provided money and supplies to the enemies of Syrian dictator Bashar al-Assad despite the risk of the materiel falling into the wrong hands.  Gulf-based support has gone directly toward Salafist fighters; Western aid has been targeted toward the supposedly moderate Free Syrian Army, but entire brigades of the FSA have pledged allegiance to al-Nusra Front—Al Qaeda’s affiliate in Syria—during 2013.  Reports this month of a “suspension” of U.S. aid have been somewhat exaggerated; as one official conceded, “the suspension of aid only applies to the opposition in northern Syria, adding that supply lines from Jordan in the south would continue.”  Foreign support has prolonged the conflict in Syria and increased the chances for Al Qaeda to take over the country.
  2. Boston marathon bombing made possible by Saudi money
    North Caucuses militants have been funded for decades by Saudi Arabia.  The Saudis and their wealthy expatriate terrorists like Ibn al-Khattab  and Osama Bin Laden and invested millions of dollars into the training and recruitment of fighters, the construction of radical mosques, and the creation of jihadist websites in Slavic languages.  Tamerlan Tsarnaev read and engaged with these websites and pursued support from these Saudi-sponsored sources when he traveled to Russia in 2012.  Tsarnaev and his brother Dzhokhar also learned from Inspire magazine by deceased terror imam Anwar al-Awlaki, who presided over Al Qaeda in the Arabian Peninsula.In effect, Saudi money created the breeding environment both online and on the ground in the North Caucuses in which the Tsarnaevs’ plot was hatched.

    Sadly, the media and public officials have been slow to recognize and expose the connections between the Saudis, the North Caucasus militants, and their followers living in North America.  Two Democrat-appointed federal judges inexplicably reversed the conviction this year of Pete Seda, a Muslim “peace activist” who sent money through a Saudi-based charity from Oregon to Chechen terrorists in the early 2000s.

  3. The U.S. became the world’s #1 energy producer in 2013.  This development reduces our dependence on Arab oil and the flow of petrodollars that fund terrorism.
  4. The compensation of victims of Iranian-sponsored terrorism was ignored during negotiations in Geneva on Iran’s nuclear program.
  5. The Somali Islamic terrorist group al-Shabaab’s finances rebounded in 2013 despite their loss of control in 2012 of the key harbor in Kismayo to Kenyan, African Union, and allied forces.  The main ingredients in their financial resurgence included an expansion al-Shabaab’s lucrative charcoal smuggling operation, the resumption of payments from the Dahabshiil money service to al-Shabaab, and indirect support from the Gulf.  The funding has allowed operations such as killing sprees in Mogadishu and the September terrorist attack on Westgate mall in Nairobi, Kenya.  Nevertheless, a British court injunction has forced Barclays to continue partnering with Dahabshiil to facilitate remittances to Somalia.
  6. Read the rest of this entry ?
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U.S. energy boom the “biggest strategic game changer since we won World War II”

October 25, 2013

Going back to the Wall Street Journal‘s remarkable finding that the U.S. is now the world’s largest energy producer, Fox News hosted a great discussion with Steve Moore and KT McFarland about the economic and strategic implications of the shift.  Please watch especially for McFarland’s insights on what this means for global affairs:

H/t to CJR for finding the video link on YouTube!

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Marcellus bolsters U.S. energy freedom

October 15, 2013

Fracking the Bakken in North Dakota, the Eagle Ford in Texas, and the Marcellus Shale in Pennsylvania and neighboring states yields more than job growth and economic opportunities for Americans—it’s creating a new era of independence from Arab oil.  Jim Cawley, the lieutenant governor of Pennsylvania, has written a column giving a very clear and vivid explanation of this sea change in global affairs and what it means for his constituents:

…In October 1973 oil exporting nations cut off exports to the United States as punishment for our support of Israel — the lone democracy in the Middle East.

Gasoline prices jumped. Home heating prices soared because the price of a barrel of oil dictated the price of everything else energy related.

Families were told to turn down the thermostats to 68 or lower, and cars lined up for miles outside service stations that were still running. Inflation combined with a slowed economy to usher in the “era of malaise.”

We were hostages in our own land.

Jump ahead 40 years and consider the words of Saudi Prince Alwaleed bin Talal: “Rising North American shale gas production is an inevitable threat” to the economy of Saudi Arabia.

Think about that.

Forty years after the embargo, a major OPEC country is worrying about America’s emerging energy independence. They have good reason.

Saudi oil exports to the United States have declined, as have exports from Algeria and Nigeria.

And as October got underway, The Wall Street Journal reported that the United States, home of the Marcellus fields, has ascended to the rank of top energy-producing country in the world.

We are talking about American energy independence – a term coined amid mile-long gas station lines and in the speeches of politicians who knew we needed to do something but had no idea what.

Our natural-gas resources are so abundant that the prices of oil and natural gas have become decoupled. There was a time when a jump in oil prices meant a corresponding rise in natural gas.

Not so today. Petroleum is selling at twice what it cost a decade ago. Natural gas prices have fallen by half.

Recently, the [Pennsylvania Gov. Tom] Corbett administration announced an initiative to expand natural gas refueling stations on our state’s highways.

It’s disappointing that some Harrisburg Democrats are lining up behind their state party’s call for an end to hydraulic fracturing, the technology that made energy independence possible.

They are, in short, calling for an abrupt halt to 30,000 direct jobs in the state’s natural-gas industry and an attack on 200,000 more jobs that depend on or benefit from the Marcellus Shale industry.

We’re talking about Marcellus jobs that sustain families, enrich communities and spin off countless economic benefits that reach from the gas fields to the neighborhoods of Philadelphia…

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Back on top: U.S. world’s biggest energy producer

October 14, 2013

Hydraulic fracturing is quickly changing the global balance of power.  This year U.S. has become or will shortly become the #1 producer of oil and gas on the planet.  This analysis comes from the Wall Street Journal:

U.S. Is Overtaking Russia as Largest Oil-and-Gas Producer

The U.S. is overtaking Russia as the world’s largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding the clout of traditional energy-rich nations.

U.S. energy output has been surging in recent years, a comeback fueled by shale-rock formations of oil and natural gas that was unimaginable a decade ago. A Wall Street Journal analysis of global data shows that the U.S. is on track to pass Russia as the world’s largest producer of oil and gas combined this year—if it hasn’t already.

The U.S. ascendance comes as Russia has struggled to maintain its energy output and has yet to embrace technologies such as hydraulic fracturing that have boosted American reserves.

“This is a remarkable turn of events,” said Adam Sieminski, head of the U.S. Energy Information Administration. “This is a new era of thinking about market conditions, and opportunities created by these conditions, that you wouldn’t in a million years have dreamed about.”

The U.S. produced the equivalent of about 22 million barrels a day of oil, natural gas and related fuels in July, according to figures from the EIA and the International Energy Agency. Neither agency has data for Russia’s gas output this year, but Moscow’s forecast for 2013 oil-and-gas production works out to about 21.8 million barrels a day.

U.S. imports of natural gas and crude oil have fallen 32% and 15%, respectively, in the past five years, narrowing the U.S. trade deficit. And since the U.S. is such a big consumer of energy, the shift to producing more of its own oil and gas has left substantial fuel supplies available for other buyers. Nations that rely on peddling petroleum for their economic strength and political clout face dwindling market power as a result. Oil prices so far remain high, however, closing Wednesday at $104.10 a barrel, up 18% from a year ago.

Many analyses of energy markets look only at crude oil. But Russia and the U.S. also are major players in natural-gas markets, where they far outproduce countries such as Saudi Arabia, the world’s largest oil producer.

The U.S. last year tapped more natural gas than Russia for the first time since 1982, according to data from the International Energy Agency. Russia’s exports have been crimped by rising competition and the economic slump in Europe. Russia forecasts that its gas production will increase slightly in coming years, but its forecast for this year is below current U.S. production.

The U.S. is also catching up in the race to pump crude. Russia produced an average of 10.8 million barrels of oil and related fuel a day in the first half of this year. That was about 900,000 barrels a day more than the U.S.—but down from a gap of three million barrels a day a few years ago, according to the IEA.

The amount of crude from two of the hottest plays in the U.S.—the Bakken oil field in North Dakota and the Eagle Ford shale formation in South Texas—continues to rise rapidly…

Readers should take a look at this video from Fox News which addresses the strategic implications of this development for U.S. national security.  The shift means a reduced likelihood of U.S. entanglement in Middle Eastern affairs, less risk of disruption due to volatility in and hostility from that part of the world, and a reduced flow of petrodollars to regimes that fund terrorism.

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The Middle East and your price at the pump

September 30, 2013

What to do about Syria?  One thing is to rid ourselves of the remaining vestiges of oil dependence on that part of the world.

In a recent op-ed in the Fort Worth Star-Telegram, Chris Faulkner points out that Syrian energy output is minimal, but the political volatility puts a Middle Eastern premium onto our gas bills.  If we pursue further steps toward energy self-reliance in North America, we could minimize the risks of price volatility and supply disruptions.

Policies being proposed by the energy sector are making more sense than the policies being pursued by our elected officials.  Read it all:

Energy independence is the best response to Syria crisis

When an American missile strike in Syria seemed inevitable, oil futures shot up to a two-year high. Just days later, as U.S. officials began considering a diplomatic response, prices fell.

Many analysts have blamed these fluctuations on investor overreaction — Syria provides less than 0.1 percent of the world’s oil. But such assessments are dangerously naïve.

Any intervention in Syria would have impacted America’s access to oil and no one can safely assume there won’t be another Middle East crisis on the horizon.

That’s why the United States must reduce its dependence on Middle Eastern oil.

Syria might not be a major oil producer or exporter, but one of President Bashar Assad’s chief supporters, Iran, holds the world’s fourth-largest proven conventional oil reserves.

More than that, Iran controls the Strait of Hormuz, a shipping lane that’s essential to the transport of roughly 35 percent of all seaborne oil.

There’s no telling what an Iranian response to a U.S. attack on Syria might look like, but if the mullahs even hint at shutting down the Strait, oil prices could jump dramatically.

The ripple effects of a U.S. military action wouldn’t stop there. A strike against Assad’s regime would inflame relations with other oil-rich nations.

The conflict has already worsened sectarian tensions in Iraq, OPEC’s second-largest producer of crude oil.

Even defusing the Syrian crisis won’t end the civil war there, nor diminish the prospect of future strife, rebellions, or war. Indeed, the Syrian civil war has stoked anew the centuries-old enmity between Islamic sects that threatens to engulf the entire region — a region that holds more than half of the world’s proven conventional oil reserves.

The situation in Syria has made clear why it’s so important for the United States to make certain our energy interests aren’t tied to the volatile politics of the Middle East.

In practice, this means embracing technologies like hydraulic fracturing, horizontal drilling and projects like the Keystone XL pipeline. These represent historic opportunities for America to gain greater control over our own energy security.

In the case of Keystone XL, a proposed pipeline that would deliver crude from western Canada’s vast oil sands to America’s Gulf Coast, the Obama Administration could dramatically increase the amount of oil we receive from our neighbor to the north.

The U.S. Department of Energy has estimated that, once completed, the pipeline would deliver as much as 830,000 barrels of oil a day, or roughly half of what we currently import from the Middle East…

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