WASHINGTON — Newly released emails show Attorney General Eric Holder said that Justice Department prosecutors who were critical of the department’s handling of the fallout of the Fast and Furious gun-walking scandal could “kiss my a❋❋.”
Fast and Furious was a botched effort by the Bureau of Alcohol, Tobacco, Firearms and Explosives to track firearms across the Southwest border. Revelations about it created a political firestorm, leading to congressional investigations and turnover within the ATF and Justice Department.
The Justice Department provided a batch of emails to the House Oversight and Government Reform Committee. The Associated Press obtained the emails on Friday.
House Republicans, who have subpoenaed for thousands of emails and went to federal court for access to the documents, have long promoted the idea that Holder knew that federal agents had engaged in a risky tactic known as “gun-walking.” The Justice Department’s inspector general found no evidence that Holder was aware of the tactic, in which ATF agents tried to track the flow of illegal guns into Mexico but instead lost track of many of the weapons.
In one email from March 2011, after being sent a news story about the Fast and Furious investigation, Holder told staff, “I hope there is another side to the story.” Later, after the ATF deputy director told Holder aides that “we did not allow guns to walk,” Holder responded to staff with, “Do they really, really know?”
That August, Holder was told by staff that a group of U.S. attorneys was upset that the resignation of Dennis Burke, then the U.S. attorney in Arizona, was announced simultaneously with the reassignment of ATF Acting Director Ken Melson.
Holder replied, “Some people can kiss my a❋❋.”
FREEPORT, Bahamas (AP) — Severe weather was likely a factor in the small plane crash that killed nine people, including a prominent Christian minister and his wife, on approach to the island of Grand Bahama, the foreign minister said Monday.
Heavy rain was buffeting the region when the Lear 36 Executive Jet struck a shipping container crane in Freeport as it tried to land, Foreign Minister Fred Mitchell said.
Mitchell said that a commercial Bahamasair flight making the same route, from Nassau to Freeport, had turned back because it was unable to land around the same time as the flight carrying the Rev. Myles Munroe and several members of his Bahamas Faith Ministries.
Civil aviation authorities launched the investigation on Monday.
The death of Munroe, one of the most prominent pastors in predominantly Christian Bahamas, stunned the country.
“It is utterly impossible to measure the magnitude of Dr. Munroe’s loss to the Bahamas and to the world,” Prime Minister Perry Christie said. “He was indisputably one of the most globally recognizable religious figures our nation has ever produced.”
Born in 1954 in the islands’ capital of Nassau, Munroe founded Bahamas Faith Ministries International in the early 1980s after studying at Oral Roberts University, a Christian liberal arts school in Tulsa, Oklahoma.
The charismatic pastor quickly became an influential religious leader among many evangelical Christians, giving sermons around the world and occasionally appearing on televangelist Benny Hinn’s popular programs. He was also a motivational speaker and the author of numerous books, including the 2008 best-seller “God’s Big Idea: Reclaiming God’s Original Purpose for Your Life.”
As news of the plane crash spread, members of his church were shown weeping on a Bahamas TV station or raising their hands in prayer. Fellow Christian pastors expressed shock.
“At times like these, I don’t try to figure things out, I just know that all things ultimately figure into a larger and higher purpose that we may never fully understand in this present limited reality,” Bishop Carlton Pearson, a high-profile U.S. minister who was a friend of Munroe’s for 40 years, wrote on his Facebook page.
Munroe, 60, and his entourage were traveling to Grand Bahama to attend the 2014 Global Leadership Forum that he organized. He planned to have dinner in Freeport about 90 minutes after his plane’s scheduling landing with former United Nations Ambassador Andrew Young, a speaker at the event, Mitchell said.
Munroe’s wife, Ruth, was also on the plane, along with the pastor considered second-in-command at Bahamas Faith Ministries, Richard Pinder, as well as the group’s youth minister and his wife and child.
Munroe, who grew up poor in the Bahamas, was considered an inspiration for many people in the island chain and abroad, the foreign minister said. “He has really put his name on the world stage and helped the Bahamas achieve recognition for talent,” the foreign minister said.
(CNN) – A Texas teacher has been “suspended without pay pending discharge” after accusations that she sent racially charged tweets about the incidents in Ferguson, Missouri, a representative for Dallas Independent Schools said in a press conference.
Vinita Hegwood, a high school English teacher at Duncanville High School near Dallas, allegedly sent the tweets from her personal Twitter account Friday.
“Who the (expletive) made you dumb (expletive) crackers think I give a squat (expletive) about your opinions. #Ferguson Kill yourselves,” read one of the messages.
Later that evening another tweet appeared, saying, “You exhibit nigga behavior, I’m a call you a nigga. You acting crackerish, I’m a call you a cracker.” Hegwood is African-American.
It’s not clear exactly to what or whom she was referring, but the protests in Ferguson, Missouri, have often hinged on race, as Michael Brown was a Black teen killed by Officer Darren Wilson, a white policeman. A grand jury is expected to decide soon if Wilson will face charges.
Hegwood is in her second year at Duncanville High School, where she maintained a website for her students, www.englishandelephants.com.
The Twitter account from which she allegedly made the comments has since been taken down. Hegwood did not immediately respond to CNN’s calls and emails seeking comment.
Lari Barager, Duncanville Independent School District spokeswoman, called the messages “offensive” and “reprehensible” and stressed the tweets do not represent the 240 other teachers at Duncanville High School.
The swiftness and severity with which administrators acted demonstrate how seriously they view the incident, Barager said. It’s rare to be suspended without pay, the fullest disciplinary action allowed under district policy, she said.
Hegwood began meeting with administrators Monday at 7:15 a.m. By 8:30 a.m., “there was a conclusion and this decision had been made,” Barager said.
District employees do have the right to free speech, Barager said, but Hegwood’s comments were so egregious, the school was left with “no other option.”
Applebee’s expands Thank You Movement to improve the everyday lives of Veteran and Active Duty Military in need
KANSAS CITY, Mo. – Expanding upon its six-year Veterans Day tradition of providing free meals to current and former servicemembers, this year Applebee’s Neighborhood Grill & Bar® will look to provide everyday household items like washers and dryers and medical equipment to veterans or active duty military and their families in need.
Applebee’s Thank You Movement is honored to partner with the community this year by asking friends, families and neighbors to submit stories at ThankYouMovement.com on behalf of veterans or active duty military and their families who need items that would help improve the lives of those who serve our country.
“We are thankful for the men and women who have served, and currently serve, to protect this great nation,” said Applebee’s President Steve Layt. “We’re excited to show our gratitude again this year by serving free meals to our military heroes on Veterans Day, and by partnering with our neighborhoods to help servicemembers in ways that will improve their everyday lives.”
Applebee’s Thank You Movement
Since creating the Thank You Movement in 2011 to collect messages of appreciation for each of the 24 million current and former members of our Armed Forces, Applebee’s has received more than 6.7 million personal “Thank You” messages through the movement’s website:www.thankyoumovement.com.
Visitors to ThankYouMovement.com can thank a veteran by writing a personal Thank You message to be posted in real time on the website. This year, the community can tell the story of a Veteran, active service member or military family in need by describing their situation, including their service and what household item might make their everyday live a little easier or more comfortable. Applebee’s will say thanks by fulfilling some of those needs.
Applebee’s Thank You Meals
On Veterans Day, Tuesday, Nov. 11, veterans and active duty military can choose a dish from the FREE Thank You Meal menu that includes some of Applebee’s signature and favorite items, including:
• 7 oz. House Sirloin
• American Standard All-In Burger
• Double Crunch Shrimp
• Three-Cheese Chicken Penne
• Fiesta Lime Chicken®
• Chicken Tenders Platter
• Oriental Chicken Salad
Guests will need to provide proof of service, which includes: U.S. Uniform Services Identification Card, U.S. Uniform Services Retired Identification Card, Current Leave and Earnings Statement, Veterans Organization Card, photograph in uniform or wearing uniform, DD214, Citation or Commendation.
Offer is valid for dine-in only. Traditional sides are included with free entrees; 2 for $20 appetizers, upgraded side items or extras, beverages, desserts and gratuity are not included. Applebee’s Thank You Meals will be offered during normal business hours on Tuesday, Nov. 11. Hours vary by location, so Guests should call their local Applebee’s restaurant in advance to inquire about specific location hours. Applebee’s encourages Guests to call their local Applebee’s or visit www.applebees.com for more information.
The Dr. Martin Luther King, Jr. Center (King Center) in Atlanta announced Friday that ASU President Gwendolyn E. Boyd will be the keynote speaker at The King Center’s 47th Annual Martin Luther King, Jr. Commemorative Service.
The announcement was made by the chief executive officer of The King Center, the Rev. Dr. Bernice A. King, daughter of the slain civil right’s hero.
The ASU President will deliver the keynote address to commemorate both Dr. King’s 86th birthday anniversary and the 30th nationwide observance of the King Holiday. Boyd’s address will be held at Atlanta’s historic Ebenezer Baptist Church Horizon Sanctuary on Monday, January 19, 2015, beginning at 10 a.m.
“We are honored to have ASU president Gwendolyn Boyd deliver the keynote address at our annual commemorative service,” said King in announcing Dr. Boyd’s participation.
Bernice King said that Dr. Boyd’s willingness to serve as the keynote speaker for the King Center’s nationwide event represents a continuation of the relationship between the King family and Alabama State University, which was so crucial to the success of the modern Civil Rights Movement.
“Many people overlook the inseparable connection between my family and Alabama State University. My father used the University’s library while completing the dissertation requirements for the Ph.D. at Boston University in 1954. Almost two years later, the University’s president, Dr. Harper Councill Trenholm, provided a safe haven for my father in the official residence on the campus after the Dexter Avenue Baptist Church parsonage was bombed during the early phase of the Montgomery Bus Boycott,” Bernice King added. “Beyond the historical linkage, however, Dr. Boyd is also an engaging speaker with oratorical abilities that are surpassed only by her passion for social justice and equality.”
Other program participants include a host of federal, state and elected officials, social change advocates, community leaders and public figures from the arts, education and the faith community. The program is televised locally every year by Fox5 Atlanta. Excerpt From Bernice King’s News Release
“Dr. Boyd’s speech at the annual commemorative service will be steeped in both history and irony as the nation prepares to celebrate the 50th anniversary of the passage of the Voting Rights Act, which was landmark legislation that expanded the national electorate during a time when Blacks were systematically denied access to the ballot. The events in Alabama, and particularly, the cities of Selma and Montgomery (the location of Alabama State University), are forever etched in America’s memory because they exposed Dixie’s dastardly disregard of the Fifteenth Amendment to the Constitution…” Boyd’s Background
In addition to many diverse honors and accolades, Dr. Gwendolyn E. Boyd has served as the president of Alabama State University since February (and is ASU’s first female president in its 147 year history); is a board member of the President of the United State’s Advisory Commission on Educational Excellence for African-Americans, and served as the 22nd National President of Delta Sigma Theta Sorority, Inc. She is an ordained itinerant elder in the AME Church, was awarded the Doctor of Ministry and Master’s degrees from Howard University, as well as is the first female African-American to earn a Master’s degree in Mechanical Engineering from Yale University. She graduated summa cum laude from Alabama State University where she also was crowned Miss ASU. Before coming to ASU as its president, Dr. Boyd was in a leadership position with the Applied Physics Laboratory at Johns Hopkins University for over 33 years. The King Holiday
The King Center’s Founder, Coretta Scott King, organized the first religious service commemorating Dr. King’s birthday in 1969 with the intention that it would become an annual tradition and the spiritual centerpiece of future observances of Dr. King’s birthday.
South Carolina’s Tim Scott defeated Democratic challenger Joyce Dickerson Nov. 4 to become the first African American senator to win election in the South since Reconstruction.
After Sen. Jim DeMint resigned in November 2012, Gov. Nikki Haley appointed Scott to the office. This election was only to decide who would continue DeMint’s term. Scott will have to run again in 2016 to earn a full six-year term.
Scott, a Tea Party darling, has openly discussed the necessity of impeaching President Barack Obama, tightening food stamp restrictions and slicing the HIV/AIDS budget for the state.
As previously reported by NewsOne, Scott has refused invitations to join the Congressional Black Caucus.
“While I recognize the efforts of the CBC and appreciate their invitation for me to caucus with them, I will not be joining at this time,” Scott said in 2010. “My campaign was never about race.”
“The Black community, like all communities, will benefit when businesses can use their profits to hire more workers instead of paying higher taxes,” he said. “Reducing the tax burden, decreasing government interference in the private sector, and restoring fiscal responsibility, and I don’t think those ideals are advanced by focusing on one group of people.”
Now that Scott has won the historic election, he has quite a bit to say about race.
In South Carolina, in America, it takes a generation to go from having a grandfather who is picking cotton, to a grandson in Congress.
The Democrats had no message in this past election; nor did the Republicans. Win, lose, or draw, the Democrats should have stood up and said what Jay Parini said best:
‘I do not agree with everything the President proposes, but he brought the American economy back from the brink of another Great Depression and we are doing extremely well. Jobs are back with unemployment steadily falling, and the stock market has soared, thus underpinning the retirement hopes of millions who rely on equity portfolios to sustain them in their old age. We have discontinued pursuing ‘war of choice,’ although it may take generations to recover from the mistake of invading Iraq, which will cost the American taxpayers two trillion bucks – with health care for veterans taxing our children and grandchildren for years to come.’
The Democrats didn’t lose, the voters did. Would you believe this only 35 percent of registered voters voted? How can you win an election if you don’t show up? So we can assume the Republican strategy to block the vote worked.
The Democrats have tried for 50 years to develop a healthcare system. They finally did it and they ran away from it. Within the past two years, Obama’s approval rating is going to be beyond 60 percent. My guess will be he will leave office with the highest approval rating than any other President in history.
In a letter entitled ‘Until I leave office’ Obama said: Friend –
Two years: That’s all the time I have left as your president.
I know what I’m going to be fighting for until I leave this office.
And the work you do now with OFA – whatever it is that you choose to fight for – will define what we can achieve together in that time.
So let’s go. If it’s raising the minimum wage for hard-working Americans or fixing our broken immigration system that fires you up, I need you to stand up for it. If it’s gun violence prevention, speak out. If it’s marriage equality, or women’s rights, or getting serious about fighting climate change, your voice is needed like never before.
The elected officials I’ll work with in the last two years of my presidency need to be reminded that people like you aren’t going away.
They need to know you won’t let the special interests in Washington drown out the voices of Americans who want to drive our country forward. That’s what OFA was built to do.
So today, I’m asking directly: Will you commit to finish what you started with OFA?
I want to be clear about this: The difference you make isn’t theoretical – what you choose to do has a concrete impact.
When it comes to health care reform and the effort to help Americans across the country get covered in the months ahead, the role you play will be life-changing for real people. I’ve seen it.
Because of you, and groups like OFA, the face of American politics is fundamentally different today. You’ve changed what it means to get involved, and you’ve redefined how power is built.
Last week’s election doesn’t change that – it just makes your job all the more critical.
With or without help from Congress, I’m not done making real change for the American people. And I bet you aren’t, either.
In order to win any competitive sporting event two things have to happen: You’ve got to play good and you’ve got to be lucky. Last year Auburn played for the National Championship. It is going to be very difficult for any team to lose two games and be considered for the National Championship game. In the event Alabama wins, they will be No. 1 in the polls going into the week of the Championship game. It’s impossible for Alabama and Auburn to both have a chance to play because they play each other and, you don’t need a PhD in mathematics to know if they play each other, one team has got to lose.
If I had to choose a team today to play in that game, I would choose Mississippi State. In my opinion, they are now the best team in America. My Top Four Picks for this week are: No. 1) Mississippi State, No. 2) Oregon, No. 3) Florida State, and No. 4) Alabama.
This is a great time for football gamblers because this scenario will change from week to week. I’m different from most Auburn fans, if Alabama does not play, I will root for Auburn. Auburn folks would die before they root for Alabama.
UAB Football
I’ve written many articles regarding UAB football and here’s what I have basically said: The Board of Directors of the Alabama System wants only one football team in the State of Alabama: the University of Alabama in Tuscaloosa.
UAB cannot be successful unless they have: a practice facility, a new stadium they can call home, and a marketing program to sell tickets.
There is nothing wrong with Legion Field; it’s the perception of Legion Field. Most people think perception is reality. On Thursday and Friday when UAB is playing at Legion Field, the radio talk show hosts have a field day. They tell people to watch out for their tires, be careful their car is not stolen and they will need a shotgun to protect themselves – which is totally inaccurate. I contend that Birmingham is the only city where the media constantly shoots themselves in the foot.
Two things can happen: The city is trying to build a stadium and UAB is trying to build a stadium. They need to get together and build one. Region’s Field should have been built for a dual purpose: baseball and football. It’s not too late to do this. It would be most impressive if the BJCC, the City and UAB would get together to build the facility they should have built 15 years ago.
This would work for all parties concerned.
In marriage, as in life, there are few guarantees, and one of them is this: You will have to address your finances together, and in some depth. Whether you get married in your 20s or your 60s, you may suddenly find yourself privy to someone else’s credit-card debt, child-support commitment, student loans, foreclosure history, or you may involve your spouse in your own financial baggage.
Romantic? No. But it’s a fact of modern marriages. Even if you have no monetary skeletons in your closet, marriage links you to someone else financially in a way that requires, at minimum, some thoughtful decisions. Who will pay the bills? How will you divide expenses? Will you combine everything? Nothing? Some things?
Another guarantee: If you don’t talk about money now, you will be talking about it later, and perhaps not quite as calmly.
• Talk about it.
Start by practicing saying this phrase: “Let’s talk about it.” Unfortunately, many couples leave financial discussions for some future time when they become unavoidable. They often wait until a crisis, or when someone makes a major purchase solo, or when long-buried debt suddenly comes to light.
This can be an awkward topic, but it must be addressed. Statistics show that the number one cause for divorce is financial matters. Set aside a few hours a week with a note pad and be proactive in addressing money matters and get your marriage started on the right path.
• Insure Yourself.
This can sometimes be a tough conversation, because no one wants to have a discussion that includes his or her untimely death. You must face this reality, because as the saying goes there are only two things certain in life; death and taxes.
You don’t need to make a big thing of it. There are just two documents that should be produced in order to protect your spouse from potentially damaging financial repercussions: a will and sufficient life insurance. Preparing a will makes it clear who will inherit your estate, and life insurance helps ensure your spouse doesn’t find him – or herself unable to meet your formerly joint financial obligations if you’re gone.
We all have things that are important to us and desires we want to see fulfilled in life and in the case of an untimely death. Some include money for college for their kids, money to pay off the mortgage, or simply money to replace the lost income for the family to maintain their same quality of life. Whatever your desires may be, take action and plan accordingly.
• Save for Later
When we get married we are in marital bliss and the road ahead appears so bright. Unfortunately, there is a thing called life that steps in. With unemployment exceeding 8 percent in some communities and the threat of a potential financially draining health condition, a couple saving for a rainy day is more important than ever.
Those who find themselves without a cushion can end up in really hot water if one or both spouses’ jobs disappear, or if a health emergency arises.
Putting money aside is a necessity. An emergency fund should hold at least six months’ worth of living expenses, and preferably more. This kind of cushion can be the difference between serious, long-term debt and a temporary setback.
An emergency fund, though kept in an interest-bearing account is just one of the necessary recipients of the money you set aside. If you plan to buy your own home, you’ll need to start building up that down payment as soon as possible. There’s also retirement, which may seem pretty far off now but can really sneak up on you. One of the worst surprises couples can face is an unfunded retirement, and most experts recommend putting 10 percent of every paycheck, or else whatever you can afford, starting now, into a tax-deferred retirement fund to make sure you’re not caught off guard in a few decades.
• Disclose Everything
Hopefully, you and your new spouse tell each other everything, or just about. And hopefully you at least tell each other all of the important stuff and will continue to do so.
Guess what: Near the top of the list of “important stuff” is what you do, have done and will do with your money.
It is important to have a clear understanding of your spouse’s view about money. Are you a spender? A saver? What is your risk tolerance? Have you ever filed bankruptcy? What is your credit score? Are you in debt?
Remember, it is imperative to disclose skeletons, disclose them completely, and right away. If your spouse loves you unconditionally, you will not be judged negatively for things that are revealed that would be considered unfavorable.
It’s not just an issue of honesty in your relationship, though. There are steps you can take in your new situation to make money matters more manageable. Be teammates and strategically address all issues head-on in an effort to put your family in a better place in the future.
You don’t have to figure it out alone. It is recommended that you partner with a qualified Estate Planning Attorney and Financial Planner to help you get your financial house in order.
(Mahari A. McTier is a Financial Advisor with Tier 1 Advisors, LLC and he can be reached at maharimctier.tier@gmail.com.)
by Hollis Wormsby, Jr. Some Things to Think About as We Approach Another Holiday Season
We are about two weeks away from Thanksgiving, which for me marks the official beginning of the holiday season. As we approach another so called season of joy here are a few thoughts on social and family issues that tend to rear their head year after year and some ways to avoid them.
First of all while the holidays are a time of great joy for many, they are also a time of great stress for many as well. For people who are suffering from depression or whose lives may not be all they had dreamed they would, the stress of watching the joy so many others seem to be feeling can actually make those left out be even more mindful of how miserable their lives are. Oddly enough Christmas and Valentines’ Day, are two of the days on which the most suicides are committed. So if you know someone in your family who is struggling as we approach this holiday season, make an effort to reach out to them and let them know that someone really cares. You just might save a life.
Non-custodial parents, particularly non-participating fathers, have been known to take a lot of the fun out of Christmas. One of the biggest complaints I have heard over the years from struggling custodial parents, is that they spend all year struggling to provide for the child, or children’s basic needs with little or no help and now here comes dead beat dad on Christmas Eve with a car full of Walmart looking like Superman. Fellas, if you have not been on your job during the year, if you want to help with your child’s Christmas, do it through the child’s mother, so that you don’t show her up and then disappear again. Also don’t make promises you know you are not going to keep. In fact, if you have a history of being less than reliable don’t promise them anything, just hug them and tell them you love them. If you are going to do better, just do so, no need to make a speech.
Christmas is not the time to make things right. Christmas is Christmas. It is about celebrating the birth of Christ and spending some quality time with your family. One of the worst things you can do is show up on Christmas day wanting to resolve some lifetime issue, or some issue that has been festering all year. I personally feel strongly on this one. You can’t sit around all year and put nothing into whatever relationship you are in, and just make everything hunky-dory by showing up and showing out on Christmas. If you didn’t feel like making it right in October, don’t bother on December 25 either, because you will probably just be making someone’s Christmas worse. That goes for whether we are talking boyfriend/girlfriend, husband/wife, parent/child or any other relationship.
We have to be mindful of our seniors during the holidays. We all have seniors in our families that are on diet restrictions and/or who tire easily. And we all can remember instances in our families where we lost an elderly loved one because they overindulged or got overly excited during the holidays. Make sure our elderly enjoy this holiday season but also be mindful that in the excitement they don’t completely forget special diets or special needs.
Pets are part of the holidays, and the holidays can be bad for them. If you share your space with pets, be mindful of decorations or other Christmas oddities that may do them harm. Be mindful of decorations that might be choking hazards, or packaging that they may be tempted to chew on, that may contain ingredients that are bad for the pet.
And finally and most importantly, Christmas is for the children. When I was a child the adults in my family did all they could to give us the best Christmases possible. I know that my mom never cared what she got, she only worried about doing as much for us as she could. I encourage us to do the same for this generation of kids. And by this I don’t just mean buying gifts, but I mean spending time, making them feel special and establishing some kinds of family traditions that they can remember when they are older.
The holidays should be the most magical time of the year, and with just a little consideration and forethought they can be.
Or at least that is the way I see it.
(Do you have a question or comment? Well you can reach out to me on Facebook at Facebook.com/HollisWormsby or email me at hjwormsby@aol.com.)
Consumers are getting some badly-needed relief at the gas pumps. Prices have dropped precipitously in recent weeks. As this is written, the average price for unleaded gasoline in Alabama is $2.75 per gallon.
The primary reason for cheaper gasoline is plunging oil prices. At present, crude oil is selling around $77 per barrel, down about 27 percent from June, when the price was $105 per barrel.
Perhaps many readers are wondering why crude oil prices have plummeted. The answer involves the two old but inescapable economic concepts of supply and demand.
Let’s look at demand first. World demand for oil has fallen dramatically because of weak global economies, particularly in Europe, where growth has stagnated.
To understand this, one has only to look at economic indicators in the euro area, also known as the eurozone. Average unemployment is 11.5 percent, with above average rates in Greece (26.4 percent) and Italy (12.5 percent). GDP has grown a miniscule 0.8 percent in 2014 and is negative (-0.2 percent) for the year in Italy.
The supply side may be even more powerful than shrinking worldwide demand. This results from the explosion of energy production in the United States. In the last few years, this nation has become an energy superpower. Since 2008, we have increased domestic supply by 50 percent.
This avalanche of production results from shale oil and gas production made possible by technological breakthroughs such as hydraulic fracturing (fracking) and horizontal drilling. As this has occurred, the United States has become the world’s largest producer of natural gas.
Oil production has doubled in just six years. This comes primarily from new shale fields that have been discovered in Texas and North Dakota. Geologists estimate they could contain hundreds of years of oil and gas supplies.
The burst of energy output has created an oversupply of oil and natural gas, creating a world-wide surplus. And this has forced prices down. While this is a fortunate circumstance for consumers, it poses a potential problem for some oil producing nations, especially OPEC.
How low will oil prices go? No one can answer this question with a degree of certainty. But, in general, prices will remain low as long as the European economy flounders and the U.S. continues high levels of energy production.
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Wayne Curtis, former superintendent of Alabama banks, is a retired Troy University business school dean.
