Posted on 01/13/2016 6:48:20 AM PST by thackney
Buy all the mineral rights you want to hold as long as you want.
Most other people invest for other reasons.
It doesn’t belong to you or the government, it belongs to mineral owners.
I guess you are happy the Federal Government greatly restricts oil/gas/coal/etc production on federal land and water. Most conservatives want to see that brought into production.
The is a HUGE market (understatement) for every drop of oil that comes out of the ground in the USA. That is fact.
I don't understand your question.
The US better fill up their oil storage reserves as when the next war will break out in the Middle East we may be needing every drop.
No, I blame the GOPe for this sellout. They reversed something that made total sense. The oil whores are just turning on the red lights because they can, wait until oil goes up to 60-70 per bbl. We’ll see how nice things get. At 10 per bbl nobody is watching or caring.
Ah, another peak oil moron. Proven oil reserves are larger today than when "peak oil" scares started to hit, and both "probable" and "possible" oil reserves (those that have been found but not yet able to be profitably taken) are larger as well. Drilling is more efficient now, and 70 percent of the planet's surface hasn't even been much explored yet for more potential fields. Further, once some enterprising young minds figure out a way to take the oil efficiently from the oil sands between the US and Canada, Canada will suddenly have more proven reserves than Saudi Arabia, by far (and we should see the globe's first Trillionaires for their efforts, I hope). Only an idiot with their head in the sand would ignore the fact that people are constantly finding new and better and cheaper ways to use what we have, and to find more. It's called capitalism. Look into it sometime. By the time we get even remotely close to true "peak oil", oil will no longer be the predominant energy source anyway, so it won't matter.
Yes, nearly all of the growth came from the advance in production from Shale Oil using horizontal drilling and multistage hydraulic fracturing.
As you can see from the link, most of that growth was light (higher API rating) rather than intermediate or heavy.
http://www.eia.gov/todayinenergy/detail.cfm?id=16591
The production growth specific to shale can be seen at the following report:
http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf
About 3.5 million barrels a day from these few shale fields in just a few years.
See post #8
Yes there is... and I'll try to type this next part slowly so that maybe you might get it... if someone else will pay more for it, then it would be wise to sell it to them (in Europe, for example). Then you use the profit that you just made to buy/produce/import more here, and keep prices lower here, as well. See?
Or you can be an idiot, force sellers to sell it only here, drive up prices here since sellers no longer have the freedom to find the best buyers so they have to cover expenses by increasing prices here, reduce the amount of US wealth, drive up prices for every commodity that is transported (hint: that's anything not made of electrons), and be proud that you're an idiot.
SMH
Awesome!
Or, it will stimulate more production, bringing lower costs.
If Starbucks could only sell coffee in one store in Seattle, would it cost more or less than it does to sell it everywhere?
I think he/she doesn’t understand the difference between refining capacity and capacity for light sweet oil. He/she thinks he caught you in a contradiction.
Let's deconstruct this.
force sellers to sell it only here, drive up prices here since sellers no longer have the freedom to find the best buyers
This is gobblygook. "Force" sellers to sell it here. That means they were getting a lower price for the oil from domestic buyers. This kept the price down not up. But they are now "free" to sell oil to Europe at higher price. Causing a "shortage" here. So the domestic users get screwed.
freedom to find the best buyers
Come on really? Freedom to find the highest price globally. Not domestically.
The rest of it is just crap based on gobblegook assumptions.
Back to the wheat example to help explain, again.
Wait until after planting. Ban the export of wheat.
Yes wheat will be cheap that year at harvest.
Next year, ban still in place, do you think the farmers are going to plant an excess or shortage of wheat? What will happen to prices?
Oil is no different, it is just a longer time scale.
The investment for more production in light sweet goes to other nations, they get the jobs, we get to import more.
He thinks it would be better for America to increase our capacity to refine our own crude oil (light sweet and heavy sour) and not sell it overseas.
The K St boys paid of the GOPe to change this law. The oil industry is really stupid. Oil is 10 bbl. and the short memoried( made up word) public is happy. Wait till gas costs $4.00 a gallon again ( it will because they know the public is willing to pay that much now) and the MSM pounds it into the public's head the we still EXPORT oil. Can you imagine? It am trying to save them from themselves.
Agriculture and mining are totally different beasts.
Wow, what a fouled up thread thackney! You post FACTUAL articles and add FACTUAL commentary. For that, you get drug across the grating. Unreal. Hang in there FRiend.
A farmer that has 1000 acres of land to cultivate will plant 1000 acres even if there is an export ban or not. The export ban may reduce his per acre profit but not eliminate it. But lets say the farmer loses money one year he may go out of business, but that would be because the price of wheat was too low not too high.
Should we be able to export gasoline/diesel?
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Economics 101: The Principles of Free Market Economics
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