Skip to comments.Fracking seen robbing OPEC of gasoline pricing power
Posted on 12/11/2012 6:01:07 AM PST by thackney
Link only due to Bloomberg content
To do that, the world additional production would need to exceed the swing production that OPEC is willing to shut down to support higher prices.
Iraqi production is set to surge as well.
We have been using hydraulic fracturing for over 6 decades. Even the EPA uses it in some wells they do. It is not only used in oil and gas.
It won’t end with this Administration. Count on it.
Meanwhile, as Red states frack away and make billions, the off-shore wells in California will suffer. Couldn’t happen to a better bunch of people.
We might be entering a new era of cheap oil. Cheap oil will fuel a strong, growing economy. We are certainly entering an era of North American oil independence. All the government has to do is get out of the way.
Obama will take the place of Opec.
We will never see cheap gas again.
And, a major drilling company in New York filed for bankruptcy, while waiting for a drilling permit above an almost certain bonanza.
Robbing? Hey Bloomberg, your ignorant economically-iognorant pinko writers need to take a refresher course in capitalism. It's called "competition" and "the law of supply and demand"; gawd how I loathe these POS morons.
I was recently informed that America’s success with fracking and our rise to become the world leader in exporting oil will lead to a third Obama term. (O + Clinton=third term)
Look for Barry to promote Michelle for 2016, as a way to get around the two-term limit.
“Look for Barry to promote Michelle for 2016, as a way to get around the two-term limit. “
That subsidiary of Norse had already reduced their staff down to 6 people. They are moving to Houston (from New York) in the reorganization.
Absolutely. I can see it coming what with all the publicity of her push toward better eating effecting the drop in obesity in New York and California (per the NYTimes today) as well as her appearances on reality shows, entertainment shows, fashion shows,etc. The two are “one brand” now.
They’ve already compromised the Constitution. Just watch.
I am all for causing pain to the muzzies.
I had an economics prof back in the 70’s tell us that the powers to be (Bilderbergs and libs) would not allow the US to become an oil power because that would financially destabilize the ME and take away the only way the camel jocks had to make $$$ (besides slave trade,extortion, or opium).
I found it maddening to see western companies go in and develop the oil fields only to have them seized by tin-horns like Chavez and 6th century morons and use that wealth we made against us.
I have always known we had enough to be totally independent and could have basically isolated ourselves from much of the petty bickering and conflicts if we had pursued that independence instead of wanting to be a member of one happy global economy world. I am by no means an isolationist on all fronts but in the case of national security I am. We have given away so much technology all in the hope of making the world better and it has gotten worse. Some cultures are destined to remain stupid and we need to quit trying to uplift them.
Via con Dios...
I think they will find the business climate more rewarding here in Texas.
btw, I was sworn in as an honorary Texan by Hayden Fry...
“Some cultures are destined to remain stupid and we need to quit trying to uplift them.”
May I use this as a tagline?
By all means.
Was in the army with a guy, Wolfgram (sp) that had worked on fracking between gradation an induction for some oil outfit in the north mid west. He was explaining what they were trying to accomplish to me and a guy that went to the Mo.
school of mines. Do not remember fracking term being used.
That was in the fall of 1963.