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Fracking seen robbing OPEC of gasoline pricing power
Fuel Fix ^ | December 11, 2012 | Bloomberg

Posted on 12/11/2012 6:01:07 AM PST by thackney

Link only due to Bloomberg content


TOPICS: News/Current Events
KEYWORDS: energy; fracking; gasoline; oil
The message in the article is that Hydraulic Fracturing has boosted the potential US oil production to the point of taking away the Power of OPEC.

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.

1 posted on 12/11/2012 6:01:16 AM PST by thackney
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To: thackney

Iraqi production is set to surge as well.


2 posted on 12/11/2012 6:05:06 AM PST by dirtboy
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To: thackney
We won't be fracking for long. Count on it.
3 posted on 12/11/2012 6:05:59 AM PST by ryan71 (Water, food and ammo.)
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To: ryan71

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.


4 posted on 12/11/2012 6:07:44 AM PST by thackney (life is fragile, handle with prayer)
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To: ryan71

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.


5 posted on 12/11/2012 6:08:11 AM PST by EQAndyBuzz (You cant bring something to its knees that refuses to stand on its own)
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To: thackney
The reserves of oil sands located in Northern Alberta are equal to 50 years total world oil demand. At current prices there is $80 trillion worth of oil at this one site in Canada. US reserves are, supposedly, greater than total Canadian reserves.

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.

6 posted on 12/11/2012 6:20:32 AM PST by Former Proud Canadian (Obamanomics-We don't need your stinking tar sands oil, we'll just grow algae.)
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To: ryan71

Obama will take the place of Opec.

We will never see cheap gas again.


7 posted on 12/11/2012 6:25:03 AM PST by Venturer
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To: EQAndyBuzz

And, a major drilling company in New York filed for bankruptcy, while waiting for a drilling permit above an almost certain bonanza.


8 posted on 12/11/2012 6:44:25 AM PST by Eric in the Ozarks (In the game of life, there are no betting limits)
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To: thackney
Fracking seen robbing OPEC of gasoline pricing power

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.

9 posted on 12/11/2012 6:45:27 AM PST by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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To: thackney

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)


10 posted on 12/11/2012 6:54:22 AM PST by sarasota
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To: sarasota
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.

11 posted on 12/11/2012 6:57:07 AM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: PapaBear3625

“Look for Barry to promote Michelle for 2016, as a way to get around the two-term limit. “


Not unless they throw out the constitution as it does not allow a president to be outside the species.


12 posted on 12/11/2012 6:59:54 AM PST by Wurlitzer (Nothing says "ignorance" like Islam!)
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To: Eric in the Ozarks
a major drilling company in New York filed for bankruptcy

That subsidiary of Norse had already reduced their staff down to 6 people. They are moving to Houston (from New York) in the reorganization.

http://www.shreveporttimes.com/viewart/20121209/NEWS05/212080320/N-Y-natural-gas-driller-files-bankruptcy

13 posted on 12/11/2012 7:03:32 AM PST by thackney (life is fragile, handle with prayer)
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To: PapaBear3625

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.


14 posted on 12/11/2012 7:22:35 AM PST by sarasota
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To: Wurlitzer

They’ve already compromised the Constitution. Just watch.


15 posted on 12/11/2012 7:23:54 AM PST by sarasota
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To: thackney

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.


16 posted on 12/11/2012 7:49:38 AM PST by Resolute Conservative
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To: thackney

Via con Dios...


17 posted on 12/11/2012 7:50:49 AM PST by Eric in the Ozarks (In the game of life, there are no betting limits)
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To: Eric in the Ozarks

I think they will find the business climate more rewarding here in Texas.


18 posted on 12/11/2012 7:56:15 AM PST by thackney (life is fragile, handle with prayer)
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To: thackney

No doubt.
btw, I was sworn in as an honorary Texan by Hayden Fry...


19 posted on 12/11/2012 8:02:36 AM PST by Eric in the Ozarks (In the game of life, there are no betting limits)
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To: thackney
Meanwhile, arch-jackass Matt Damon has made an anti-fracking movie financed by the United Arab Emirates. This would be like someone making an anti-manufacturing movie financed by the Chinese. Damon is quickly becoming a traitor.

Damon's Arab-financed anti-fracking movie

20 posted on 12/11/2012 8:06:54 AM PST by Dr. Thorne ("How long, O Lord, holy and true?" - Rev. 6:10)
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To: Eric in the Ozarks

21 posted on 12/11/2012 8:09:28 AM PST by thackney (life is fragile, handle with prayer)
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To: Resolute Conservative

“Some cultures are destined to remain stupid and we need to quit trying to uplift them.”

May I use this as a tagline?


22 posted on 12/11/2012 9:10:17 AM PST by ZirconEncrustedTweezers (Democrats are evil. Republicans are stupid.)
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To: ZirconEncrustedTweezers

By all means.


23 posted on 12/11/2012 9:28:26 AM PST by Resolute Conservative
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To: Resolute Conservative

Thanks!


24 posted on 12/11/2012 9:30:55 AM PST by ZirconEncrustedTweezers (Some cultures are destined to remain stupid and we need to quit trying to uplift them.)
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To: thackney

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.


25 posted on 12/11/2012 2:20:18 PM PST by TweetEBird007
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To: thackney
( * Fracking seen robbing OPEC of gasoline pricing power * ) Oh really ?

Jim ? Mods ? sorry, someone has got to say it.

OPEC ? TUFF SHIT !
26 posted on 12/26/2012 9:34:17 PM PST by American Constitutionalist
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