U.S. to become biggest oil producer - IEA

Discussion in 'Politics and News' started by sMiLeYz, Nov 12, 2012.

  1. sMiLeYz

    sMiLeYz Platinum Member

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  2. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
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    Right!

    That will require getting the oil out of shale
    Also not sending our resources overseas and importing because of geographic convienence
     
  3. yllus

    yllus Lifer<BR>Elite Member

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    That would require nationalization of the U.S. oil industry.
     
  4. Genx87

    Genx87 Lifer

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    Imagine if we did open up ANWR back in 05. Oil production would be coming online right now.
     
  5. Thump553

    Thump553 Diamond Member

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    I recall reports from a few weeks back that the USA is expected to be the world's largest oil and natural gas producer next year.

    I view this as both bad and good. Good because it helps jobs here and our economy. Since oil is basically a world production it won't do any more to push gasoline prices lower here than increased production in some other country. Bad for the following reasons:

    (a) Other big producers (the Saudis intentionally, Iraq and Libya due to conflict) are sitting on their capacity. Some day-and I personally don't think it is that far off-we are going to reach an increasing shortage of crude oil. I'd like the USA to have the capacity then rather than piss through it now so we can drive our SUVs for ten cents a gallon less

    (b) the whole greenhouse gas/global warming thing-I don't want the USA to take it's eye off the ball, long range speaking.

    (c) we really need to wean ourselves from the oil habit and are only making baby steps to do so.
     
    #5 Thump553, Nov 12, 2012
    Last edited: Nov 12, 2012
  6. charrison

    charrison Lifer

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  7. charrison

    charrison Lifer

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    a. shale formations exist world wide, we could be awash in oil again here soon.

    b. Cheap natural gas is taking a huge bite of coal in the US for electricity production, driving CO2 emission down.

    3.Natural gas is a big step in that direction.
     
  8. brandonbull

    brandonbull Platinum Member

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    And on it's best day, ANWAR would only meet 5% of our oil demand.
     
  9. charrison

    charrison Lifer

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    On its best day before fracking, north dakota only produced 100k/barrels a day. Today the state is producing 5x and it is still on the rise.
     
  10. nehalem256

    nehalem256 Lifer

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    Interesting. So this thread is really about how Sarah Palin was right :D
     
  11. Genx87

    Genx87 Lifer

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

    techs Lifer

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    Actually she was dead wrong. We could have drilled everywhere and not substantially increased our production.

    It was engineers figuring out how to get more oil and gas from current wells that provided new technology. The new oil and gas is mostly coming from old wells that were drilled years ago.

    As to ANWR the new recovery techniques are actually proof that we shouldn't have been drilling there. We should wait until the technology for drilling in such extreme conditions improves. Especially since it wouldn't have lowered oil prices a penny and not even made us more secure as a nation.
     
  13. Genx87

    Genx87 Lifer

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    We have been drilling the north slope for over 40 years. The technology has been proven for decades.
     
  14. nehalem256

    nehalem256 Lifer

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

    charrison Lifer

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    You are in fact dead wrong. The increase in oil production is being driven by new will drilled with new technology. The new wells are much deeper and extend horizontally once they hit the required depth.
     
  16. Engineer

    Engineer Elite Member

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    <--- Looks at gas pump prices and asks...."Who has this helped?"

    (answer: Oil companies and refiners).

    Although I would rather our money stay here with them than go to the Middle East.
     
  17. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
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    How do you develop the technology if you do not get your hands frozen.

    No lab is going to be able to simulate the North slope.
    You need to take ideas from the lab and try them out; tweaking and passing back the information.
     
  18. Svnla

    Svnla Lifer

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    I do not know about oil but we have a freaking huge load of natural gas from the Hainsville and Barnett Shales down here.

    So much so that the drilling companies have to cut back, laid off people, and the price of natural gas went down, over 50% from the hay days = http://www.eia.gov/dnav/ng/hist/n9132us3m.htm
     
  19. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
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    This is techs :p

    Anything that would have a Repub in the positive light is a failure
     
    #19 EagleKeeper, Nov 12, 2012
    Last edited: Nov 12, 2012
  20. nehalem256

    nehalem256 Lifer

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    He knows that. And in fact made that exact claim in the preceding paragraph.
     
  21. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
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    Problem exists getting the raw material from the supplier to the retailer and/or consumer.
     
  22. Ausm

    Ausm Lifer

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    I thought the Democrats were reducing the amount of oil we were producing? Who would have thunk!
     
  23. charrison

    charrison Lifer

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    The oil/gas boom is generating quite few jobs that pay well in the US. Right now horizontal fracking is done mostly inthe US, when it spreads to the rest of the world we could see the return of cheaper(oil needs to be around 60/barrel for this to work) oil again.
     
  24. charrison

    charrison Lifer

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    Well if were not for private lands and new tech,they would do so.
     
  25. Svnla

    Svnla Lifer

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    Well, they are trying to build the infrastructure to accomodate the new found bounty. I think they are building a few refineries in South of Louisiana right now.

    Not only the lack of transportation, the slow down of economy from China, India, and other developing nations are dragging down the demand.

    Lower demand plus higher supply = price crashing.

    But US companies with high usage of natural gas such as electricity providers, chemicals are raking in busloads of money from the much cheaper energy.