Posted on 06/06/2013 12:24:07 PM PDT by IBD editorial writer
Petrotyrants: If there was any doubt the U.S. shale revolution is breaking the dominance of unsavory energy producers on global oil supplies, look no further than last week's OPEC meeting, where the alarm bells were going off. At Friday's Organization of Petroleum Exporting Countries meeting in Vienna, the mask of non-chalance about America's new fracking energy boom came off. After years of dismissing U.S. energy production as insignificant and expensive, OPEC suddenly said it would "study" the growth in hydraulic fracturing and horizontal drilling, a deceptively bland response to the biggest challenge the cartel has ever faced on its monopoly. The statement concealed the anything-but-tranquil tone of the meeting, in which members were attacking each other and warning of a split.
(Excerpt) Read more at news.investors.com ...
It’s interesting what has happened to the price of diesel compared to gasoline lately...
Sing the song children music to every real Americans ears!
What has happened?
Not if Bammy and his EPA have anything to do with it
OPEC has spent decades buying and blackmailing politicians into suppressing American Oil production. That would have to change to make it a reality.
If the EPA doesn’t kill it first. They are hot on the heels and determined to make energy more expensive... as usual.
What is your observation concerning diesel ?.
Won’t be.
The Obamadork Clown show of felon/cretins (amongst which is the EPA) will make sure we’ll never produce much.
Wanna bet?
That is, until we tell the DOJ, EPA, et al to shove it up their collective smelly Obamas.
And mean it.
OPEC can kill fracking overnight if it wants. Increase output and set price at $10 a barrel.
Fracking would shut down instantly.
As long as the collectivists and the EPA are cojoined, it won’t matter if oil came out of the ground at 5 cents a barrel.
Where I live, diesel is less than premium gas.
I’m at Ground Zero here in Pennsylvania, and let me tell you, the politicians who are pushing for expanded shale development are mostly Democrats.
They start slobbering and having multiple orgasms at the mere thought of all the new revenue streams headed their way. Bammy would have an open party revolt if he tried to shut that off now.
What is your observation concerning diesel ?.
Diesel been higher than gas for a long time now. I’m going to check here next time I go out.
We could make these bastards eat sand if we WANTED to.
True. But the oil we’re presently drilling for would still be there when OPEC’s oil they’ve sold us for $10 runs out. Meanwhile we’ve got $10 oil.
Sounds like a win for us.
I don’t know about what cuban leaf saw, but yesterday when I filled up regular gasoline was $3.999 and Diesel was $3.989. First time I remember Diesel ever being cheaper than regular gasoline.
“OPEC can kill fracking overnight if it wants. Increase output and set price at $10 a barrel.”
“Fracking would shut down instantly.”
As would OPEC. They can’t make money at that price.
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