Posted on 12/05/2012 8:10:11 PM PST by blam
You are so right! This admin is fighting tooth and nail to be LAST in energy, when we have the opportunity to replace the Saudis as the world’s energy super power.
Makes ya’ wanna cuss, doesn’t it? Strongly cuss...
No muss, no fuss, just a good ol vulgar and vile CUSS!!!
Actually, the Russians apparently have oil & gas shale potential that makes US resources look modest, but while that may make them self-sufficient it may not provide the type of income needed to arrest the decline of their military.
I wonder how much Russia’s oil and gas sales contribute to their economy. I’ve read that Iran needs oil around $80/bbl to fund their programs. In future years, it looks like unless it’s convenient we won’t be importing anywhere near the 12%, IIRC, of the world’s production like we do now.
There really won’t be a drop in demand. There will be an oil surplus. Russia will see their earnings drop along with all oil exporters.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.