Posted on 02/15/2013 3:34:20 AM PST by Kaslin
The article is spot on. The socialists can’t stand that we have relatively low cost oil and nat gas. Because their “green” energy sources can’t compete at these prices.
The supply of oil is plenty. We have it in the USA.
The people will have jobs and need fewer government handouts.
Yep, it foils their plans...
This article makes perfect sense, why would you treat it with derision?
Instead of attacking (Alinsky style?), why not point out the errors?
We disagree, but FReepers sometimes, every once in a while, may do that.
Cheers.
My lib-in-law frequently says “oh, you just blame everything on liberals, don’t you” in trying to dismiss any pointing out of yet of “we’re right, you’re wrong”.
My answer is “yes, and rightly so - care to tell me how they AREN’T responsible?”
ENERGY = life and liberty.
Both things the left opposes.
I have great faith in ingenuity, "if" it is allowed to work. Unfortunately, pretty much every notion promoted by the leftists seems designed to actively prevent such activity.
Dirty little secret is that Democrat State and Local Politicians in PA, OH and other politically sensitive areas have already spent the money from this new revenue stream for the next decade on out. Obama risks a full-blown intraparty Civil War if he tries to screw with this.
I didn’t say there was an error, just that the “told you so” perspective was tiresome across the breadth of article’s subjects. The article was spot on.
“the technical accuracy is a bit lacking, too.” - t45
You agreed with thackney’s lame attack on the article, or so I thought.
Thanks for claifying with: “the article is spot on”
I should have addressed my post to thackney also.
Thack you’re using verifiable facts again.
That’s rare these days on FR.....
thackney backed up his comment with the data he posted @ #13, a chart he’s previously posted or at least one similar to it. I’d seen it before and understood the context of his comment on the article trying to make horizontal drilling and fracking seem less expensive than it is when compared to the steep decline curve on flow rates.
Yeah, I get that a lot too, and they don't like my answer because it's the same as yours.
But the conclusion that almost everybody is interested in:
If it does, it would revolutionise global energy markets, providing greater long term energy security at lower cost for many countries.
The shale fields using hydraulic fracture are NOT going to lead a significant and lasting decrease in price. If the supply out runs the demand pushing the price low, we will see the same result we have already seen in the Gas Drilling in the US.
The investors will quit spending so much to drill and complete these expensive wells when the payout falls dramatically, just like we have already seen in the gas drilling. And given the quick fall off in the production curves, it will not take long to see the supply to fall and cycle the boom/bust again.
For those not aware of the steep fall in drilling rigs going after gas in the last couple years:
U.S. Natural Gas Rotary Rigs in Operation
http://www.eia.gov/dnav/ng/hist/e_ertrrg_xr0_nus_cm.htm
Since you plucked that chart out of a presentation that is very positive about Bakken drilling, don’t you feel the slightest bit funny about using to bolster an argument against Bakken drilling?
The very next page of the presentation in the linked PDF talks about the strong positive economics of these wells. Each well with 540,000 barrels expected to be produced, making an expected profit of $20 million. (Not to mention all the other salaries, taxes, and fees the revenue from these wells generate.)
I think that adds to the dependability of the chart. I am not arguing against Bakken, Eagle Ford, Permian Basin, Utica, etc in any way. I think the production is going to continue to grow, jobs are going to grow, imports are going to shrink, energy independence is going to grow.
What I do argue against, is a dramatic and lasting price drop because this technology. The Supply/Demand curves are real and if we see a significant, lasting price drop, the drilling will drop and following that, the productions will start to drop. Just like Natural Gas in the country.
The very next page of the presentation in the linked PDF talks about the strong positive economics of these wells.
Did you see any basis of that economics using a falling price? Those number are based on current pricing.
I agree that these wells will not dramatically drop the price of oil/gas. I think they will stabilize the price.
The benefit to the US economy will be dramatic, and positive.
I also think that the “green” energy approaches are dead in the water, due to this relatively low-priced domestic source of energy.
Green energy cannot compete at these prices.
The socialists are upset their pet (crony) projects in their central planning economy are failing. (Their solution is to heavily tax oil based energy and give tax credits to “green” projects. It still won’t work, because of the relatively low-cost of Bakken and other tight formation oil and gas.)
We agree
The benefit to the US economy will be dramatic, and positive.
We agree
I also think that the “green” energy approaches are dead in the water, due to this relatively low-priced domestic source of energy.
We don't agree. While I think money from the Tax Payers is wasted on the initiative with next to nothing to show for it, I don't believe the liberals have given up. Nor do I believe sufficient number of people going to the ballots place that as a priority.
Green energy cannot compete at these prices.
Not compete fairly, but the subsidies haven't ended.
The socialists are upset their pet (crony) projects in their central planning economy are failing.
I agree, but I have not seen the conservative take over the legislature and executive branches of government lately. In some areas, but not enough and not at the Federal Level.
ok - have a good one
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