Live Blog: JU Public Policy Institute: Energy Policy Event

[TheCat]

gas prices throughout the country are impacted by refineries. Parts of the country that have good access to refineries (Texas) have less fluctuation and more price stability. Gas prices are dropping because of fracking.

Now, we are on to politics.

[TheCat]

The impact of politics on markets and vice versa:

New oil leases by the federal government has dropped by more than half since 2006. We went from over 3500 new oil leases to under 1500.

It looks like the same is true for annual drilling permits. This is when oil is actually found and it's time to start drilling. in 2007 permits were just above 7,000. In 2013, a bit over 3500 permits.

Gresik, mentions that this decrease in drilling may be good or bad depending on your perspective.

Still!!! Despite the drops we are still producing more oil.

[TheCat]

Texas is the major reason for the increase.

This is why the drops in federal permitting are happenng. Because the federal government has made it so difficult to grab a permit the negotiations are not happening on a state and county level, and a private level. Federal government in its attempt to have more oversight has lost oversight. Gresik, says, this concerns him. It opens the door to more "fly by night" operations that don't have a significant oversight.

[TheCat]

What we need:

Support policies that promote all three energy goals...

affordable energy
environmental protection
energy independence

All three need to be pursued together, not either/or but AND.

[TheCat]

Likely outcome?

Gresik is wrapping his talk with a story about a children's story about a red hen and beaver.

The red hen's roof is leaking and she calls the beaver and says "can you come over to fix my roof." The beaver says he'll come over when it stops raining.

The next day the sun is out and the beaver comes over and the hen says "I don't need you anymore. The roof isn't leaking." The beaver leaves.

This cycle continues...

The point is fix our energy roof now so that when it starts to rain, again, we are ready. Then he mentions the chicago cubs...maybe next year.

[TheCat]

we've wrapped up! Thanks for joining the talk. This was another great event.

[MusicMan]

We are FLORIDA. THE SUNSHINE STATE. How many MetroJax contributors/bloggers have a solar install on their homes or businesses?