U.S. to become biggest oil producer - IEA

[brandonbull]

Originally Posted by Genx87

So because something only adds 5% of our demand we shouldnt do it? This is silly reasoning. Do you have any idea of aggregates?

A 10 year window to bring on-line and minimal return doesn't sound great. How about conservation?

Instead of feeding our oil habit, maybe we could kick it? Exploring petroleum alternatives? The US has reduced it's oil consumption ~10% over the last 4-5 years and all we got to show for it is higher prices. What is adding a few % to our numbers going to do?

[Genx87]

Originally Posted by brandonbull

A 10 year window to bring on-line and minimal return doesn't sound great. How about conservation?

Instead of feeding our oil habit, maybe we could kick it? Exploring petroleum alternatives? The US has reduced it's oil consumption ~10% over the last 4-5 years and all we got to show for it is higher prices. What is adding a few % to our numbers going to do?

How do you think other fields are brought online? With your requirements nothing would be brought online.

We have been "exploring" other alternatives for decades. Nothing can compare to petroleum. So instead of continuing the square block in the round hole routine. Lets acknowledge reality and start developing some of these resources. If we have 1-3% more supply on the market who knows where the price of oil would be today.

Conservation is fine, I have no problem with it. However that is a seperate issue than blocking known oil reserves for little reason.

[K1052]

I'd kind of prefer for us not to be torching through our oil reserves mostly for transportation use.

The Feds should look at tax credits for vehicle/truck fleets and rail operators that convert to NG. It's a win from both an energy and an environmental perspective.

[Dulanic]

Originally Posted by nehalem256

Do I really need to point out the inherent contradiction in what you said?

I don't think contradiction means what you think it means. Do you think technological improvement has just stopped now?

[nehalem256]

Originally Posted by brandonbull

A 10 year window to bring on-line and minimal return doesn't sound great. How about conservation?

Instead of feeding our oil habit, maybe we could kick it? Exploring petroleum alternatives? The US has reduced it's oil consumption ~10% over the last 4-5 years and all we got to show for it is higher prices. What is adding a few % to our numbers going to do?

So conservation does not work right?

If drilling in ANWAR has such a small return on investment than why do oil companies want to drill there?

[Svnla]

Originally Posted by K1052

I'd kind of prefer for us not to be torching through our oil reserves mostly for transportation use.

The Feds should look at tax credits for vehicle/truck fleets and rail operators that convert to NG. It's a win from both an energy and an environmental perspective.

Down here, I saw more buses and government vehicles with NG (signs on the sides) plus a few NG refuel stations (less than 10 last time I checked)but they are still in the minority.

[brandonbull]

Originally Posted by nehalem256

So conservation does not work right?

If drilling in ANWAR has such a small return on investment than why do oil companies want to drill there?

Don't oil companies get to sell a $35 barrel of domestically produced oil for $100? Also OPEC has pretty much the final word when it comes to controlling world oil prices.

[nehalem256]

Originally Posted by brandonbull

Don't oil companies get to sell a $35 barrel of domestically produced oil for $100?

Does any company purposefully sell its products at cost?

Originally Posted by brandonbull

Also OPEC has pretty much the final word when it comes to controlling world oil prices.

So you agree conservation will not solve the problem. As has been demonstrated in the last 4-5 years.

[Doppel]

This is good news if true.

[JTsyo]

Something I noticed is that even if we become the largest producer, we still don't become energy independent. Seems it's like the deficit issue, we need to up production and reduce consumption for a through energy policy.

[zinfamous]

Originally Posted by EagleKeeper

Right!

That will require getting the oil out of shale

yep.

which is why this should never happen. horrible, horrible idea.