Posted on 11/23/2018 5:37:13 PM PST by DUMBGRUNT
The downward spiral in oil prices is accelerating as a surge in crude production from a turbocharged U.S. petroleum industry runs into weaker global economic growth.
A big reason why: the emergence of the U.S. oil industry as one of the world’s most important players. Ballooning shale production—American output has nearly doubled since the start of 2012—has made the U.S. a key supplier and exacerbated worries about a global glut of crude.
The U.S. now exports more energy than it imports, by one measure.
...defying skeptics who previously warned OPEC’s grip on world markets had slipped thanks to U.S. shale.
(Excerpt) Read more at wsj.com ...
Now this is winning!
JoMa
Drill Baby, Drill!
Now THIS is Making America Great Again.
Here in North Central Taxes regular unleaded is now below $2 a gallon.
But the Democrats are soooooo smart they want to wreck all of this.
You just can’t fix stupid with most Democrats.
See? That racist is trying to destroy the third world coastlines, leaving millions (those who run slow) dead, and millions more homeless, then refuse them refugee status!!! /s
Lots of the wells that were drilled in the Marcellus were never produced because the collection lines hadn’t been built. That’s ongoing now. There’s a huge flood of oil and gas that will be coming to market. I suspect drilling won’t be a priority until the wells drilled during the Obama fiasco are all producing.
Same here in Tulsa - 1.99.9/gal when we returned to town from our Thanksgiving Day trip to Wichita KS.
Still not very far from $4 here in Northern Taxifornia!
Sustaining a degenerate society doesn't come cheap.
Here in Phoenix, we are still at $2.85, and I can’t even get anything above 91 Octane or ethanol free (outside of racing fuel).
Yikes, that’s what I pay for 93 in Houston.
That’s one of those things the Democrats can’t admit they got completely wrong.
Yep. Even ARCO is at 3.50. Just another reason we want the State of Jefferson up here.
The politicians love cheap gas it is easier to raise the gas taxes
I think around fifty dollars a barrel everyone can make money..below that the drilling will slow down..
$2.07 NE of Atlanta according to GasBuddy a couple of days ago. Not that cheap everywhere in N. Ga but I filled up a couple of times at 2.17 about 50 miles north of Atlanta.
The Communist West is still over 3.25/gal thanks to taxes.
$2.17 in south central MI., and I’m going to fill all my 5 gal cans in the barn tomorrow.
And the morons voted against Prop 6. You really can’t fix stupid unless you give them a lead laced lobotomy.
Good for me, my wallet and my cargo van.
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