Here in the US ... we have developed NG at a stupendous rate ... and it continues
Are we not also producing a great(er) amount of oil ?
As I see it (and I have a card in my wallet proving I'm a dummy at these things) .. we have everything needed to be energy self sufficient ... the only hindrance is government
I’ve read that twice, and I still don’t understand the mechanism a low oil price would switch a nation to ME crude
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At the current oil prices our domestic oil production is falling while several Middle East oil countries are growing production.
Our demand is climbing and our production is falling. So our imports have already started to rise.
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Here in the US ... we have developed NG at a stupendous rate ... and it continues
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Our Natural Gas production has begun falling as well. Prices are too low to justify enough drilling to keep up production rates. That should change as we start some exports of LNG.
“we have everything needed to be energy self sufficient ... the only hindrance is government”
We’ve proven that.
If the Middle East gets too beligerent, we could raise oil import taxes now. But then, that only works if frakkers are ready to raise production quickly enough.
On the other hand ...
On the other hand ...
[Looking to Joe’s expertise]
As I understand it, there is lots of cheap drilling being blocked from us. Remember the Cuban oil well that is visible off the Florida coast? Then there’s ANWR.