American Oil and America prosperity
-
Belly35
Can someone get me a towel I think I'm going to cry.
Sorry Saudi Kingdom Holding if America Oil will cripple your economy eat shit a die.
This is the individuals, power groups and governments that Obama is concerned about. Obama and his racist, socialist administration and ideology could careless about America, the people, oil independence and prosperity.
http://www.foxnews.com/world/2013/07/30/saudi-prince-worried-that-us-shale-boom-could-cripple-opec-economy/ -
gutLMAO...has he LOOKED at the price of oil recently? The US boom is barely easing global demand pressures. It's basically settled into a new "normal" range of $80-$100/bl.
Although, I have wondered if some super alternative energy source would explode would it might do to the middle east. It won't be pretty. -
ptown_trojans_1
Odd, no mention of Canada and Russia, which are also cashing in on the shale boom.
The Saudi's have little room to talk as they have made their economy into just one commodity, oil. Petrostates usually do not have a good history, or states that rely on just one commodity.
However, as the Saudi's are the closest U.S. ally, and the one with the longest ties to the U.S., it is pretty damn important the state stay together. If it falls, or goes into turmoil, it will make Egypt look like child's play. And yes, that will impact the U.S. -
cruiser_96
Does shale oil mimic "normal" (good ol' fashion) oil? Or does it have to be refined differently in order to make things like gasoline?
If not, what is the rationale for not digging/drilling - or is it "tapping"? If so, is the adventure worth it in the long run?
I'd love it if solar energy was more reliable and more fruitful. HOW SWEET IS THAT to get energy from the fricking sun!?!?!? But alas, it is a money losing venture - at least the avenue I looked in to was. -
IggyPride00
The shale boom is basically doing nothing more than keeping us slightly ahead of the depletion rate of the world's oil fields.
As the Saudi and Middle Eastern wells continue to age and face inevitable production decline shale oil will fill some of the gap, not flood the market with cheap oil.
The Saudi's have nothing to worry about, as oil is never going back below $80 again on a sustained basis as OPEC won't allow it and shale oil becomes far less profitable under that mark.
I think some of those middle eastern countries had been budgeting on the idea of $115 oil, which will be difficult with shale oil in the picture. However there is zero reason for them to ever fear a return to the days when oil at $20-30 a barrel was considered expensive. Amazing that was just a decade ago. -
rydawg5If we can do it without poisening out water supply I'm all for it.
-
gut
Because environmentalists think carbon-based fossil fuels are the devil. They honestly do not give a shit what gas at $5-$6/ga would do to the economy, in fact they would welcome that scenario.cruiser_96;1480455 wrote: If not, what is the rationale for not digging/drilling... -
Classyposter58
A decade ago China and India were much less advanced than currentlyIggyPride00;1480466 wrote:The shale boom is basically doing nothing more than keeping us slightly ahead of the depletion rate of the world's oil fields.
As the Saudi and Middle Eastern wells continue to age and face inevitable production decline shale oil will fill some of the gap, not flood the market with cheap oil.
The Saudi's have nothing to worry about, as oil is never going back below $80 again on a sustained basis as OPEC won't allow it and shale oil becomes far less profitable under that mark.
I think some of those middle eastern countries had been budgeting on the idea of $115 oil, which will be difficult with shale oil in the picture. However there is zero reason for them to ever fear a return to the days when oil at $20-30 a barrel was considered expensive. Amazing that was just a decade ago.