National fuel `plans~?`

Here is a rough transcription of the presentation for people who are hard of hearing. Apologies for the lack of grammar, I am working to improve the automated transcriptions -
Yeovil Monday Monday and we’ve got an energy presentation today here now this is it starting with Felix Salmon who writing in Reuters normally writes Reuters why fuel economy standards makes sense fuel economy standards is normally the way the United States goes right and what a dope Porter has a very good explanation today of why it makes much more sense from an economic perspective to simply start raising gasoline taxes than it does to implement even tougher fuel efficiency standards but before we get to the meat of his argument it worth correcting his numbers argue his conclusion that the conclusion here as well and I’m not going to go to the rest of the article where his numbers are picked apart by Felix you have to go follow the link and do it yourself in Britain where gas and diesel are taxed at let’s rounded up four dollars a gallon the American automaker Ford sells a compact Fiesta model that will go nearly 86 miles on a gallon and loss numbers to follow tricky but okay that’s in Britain gas diesel taxed for bucks a gallon Ford Seller Fiesta the does 86 miles of the gallon in the United States where gas is taxed at only $.50 a gallon $.50 as opposed to 4 bucks a gallon Ford fiestas will carry you only 33 miles on a gallon of gas Follow the link Read the rest of the article but I’m not here to go into that terribly tricky discussion about British gallons and in all sorts of ways of marriage measuring mpg or something with got that that is an awful lot of basic fact in their British taxes on debt as gas and alarm diesel very healthy for bucks a gallon and a very low in the United States at $.50 a gallon the United States are going to go for implementing few of high fuel efficiency standards at her hats Britain just raises taxes up seats if you raise the taxes up for for example will make Fiesta models that do 86 miles to the gallon but in the United States where the Fiesta only does 33 is the miles to the gallon the government can implement fuel efficiency standards that cars should of that type should do if it so the 33 Ford might get it to do 50 but by raising taxes the manufacturers will do much more for the public who are in trouble and then you get much more harm out of the manufacturers they won’t just go up to that standard. They will go off and club beyond and up to numbers like 86 miles per gallon enough I was meant to talk about these could I can go on about just about all of these other articles this is permission and his friend that sends him how charts on fuel use this is gasoline products supplied supplied it supplied it used those red dots are for the average of April May and June and you can just see the basic shape of it from 95 coming up to 2007 it was tending trendy upwards and since 2007 it’s trending downwards at the 90s and this is not anything to do with fuel efficiency standards United States just isn’t using as much fuel on the roads as it used to write Asia-Pacific India raises price of diesel by over 12% I raised the price of heavily subsidised diesel on Thursday in a politically risky move to cut the budget deficit and fight the threat of being the first of the brick economies Brazil Russia India and China to be downgraded to junk that I diesel prices will rise from midnight on Thursday by more than 12% or five rupees a litre they were subsidised in India to a great extent Asia-Pacific financial Times again link above for Japan to phase out nuclear power Japan will phase out nuclear power by 2040 marking a major policy shift and the first formal decision to retreat from atomic energy since the disaster at Fukushima the plan which was announced Friday is opposed by business groups quite understandably their energy costs are going to soar and has been questioned by officials from the US UK in France and means Japan will join Germany is the second major economy to turn away from nuclear power since last year’s accident and as I kind of stress for Japan every time I come across this sort of thing Japan island known natural carbon fuels to just pull out of the ground has to import it all used the great thing of the 20th century which was nuclear power and got lots of safe cheap energy wallet safe until it was shown that it wasn’t safe but what are they going to do now and don’t think this is the thing that I push every time don’t think they have not been thinking about this all the time since the Second World War how we go to power ourselves are without great industrial production and they have come up with just about nothing they came up with nuclear power and now that’s being abandoned and they’ve got nothing else and what I’m saying is a bright little bunnies and they have put lots and lots of money and brainpower into finding alternative efficient replacement and have not so done and if those little Jackie people can’t do it I won’t say nobody could do it but it just means that the bar must be down high that the little jabs can’t jump over it anyway could move on forms is reading when you read Forbes you got to know that sits capitalist piggery anyway meet Alex crammed the Texas oilman behind the newest Iraqi crusher on Thursday publicly traded Sharma ran petroleum announced that a new well drilled into the hatch rush exploration block in the Kurdish region of Iraq was tested at a flow rate of more than 42,000 barrels per day now the bad shot this is a call loss all well the likes of which hasn’t been seen on shore in the United States in decades by comparison most newly most new wells drilled in the park and play of North Dakota are lucky to do 1000 barrels per day for the first few weeks before quickly falling off 1000 barrels a day for the first few weeks and then quickly fall off but it big area college gone to the last link into big area and then stick lots of benzene and get lots and lots of those 1000′s that quickly fall off and then moved to another one anywhere it moved this last one which is number six North Dakota is backing oil output passes 600,000 barrels a day will production from the North Dakota portion of the bark and shale formation topped 600,000 barrels a day for the first time in July up 69% from a year earlier North Dakotas barking output was 609,580 barrels a day in July it’s amazing how quickly etc etc let’s go down towards the bottom increase production out of the bark in the Eagle Ford formation in southern Texas and the Permian basin in Western Texas helped US oil output rise to the highest level in 13 years the US met 83 eight 383% of it energy demand from domestic sources in the first five months of this year heading for the highest annual level since 1991 according to Department figures at quite a performance but with the fact is how cheap is this stuff or the big bottom line is how cheap is this stuff they’re pulling it out of the ground it’s tricky to get out and that’s the bottom line you got 83% for the moment it can drop off very quickly and it’s not cheap fixes the great problem of the world because the level has now ramped up to that the price is ramped up to a plateau are high plateau of let’s say 80 minimum 80 to 120 that they going out there and not finding them generally known maths stuff was it some extraction becomes Val Arbil and the non-English word is firm worthwhile at that at that price and that’s the big problem is that there has there is now a plateau in oil not production and it seems price they getting more production out of the globe the earth but the price has gone from where it was 10 years ago well 12 years ago where where it was 1520 bucks to now 80 to 120 bucks and that’s an awful big difference and if it wasn’t even the financial problems of the world those energy problems of the world would certainly hold down what otherwise could be quite explosive growth in the world but we don’t get the explosive growth because the financial problems and basically underlying energy problems leave and shutter click Set for Monday by