Posted on 12/05/2012 8:10:11 PM PST by blam
GOLDMAN: The Shale Oil Revolution Is Real, And It Will Have A Massive Impact On The Global Economy
Rob Wile
Dec. 5, 2012, 7:55 PM
We are seeing calls that, thanks to shale drilling, the U.S. is poised to become the world leader in oil production, leading some to begin invoking "Saudi America."
Today, Goldman Sachs analyst Kamakshya Trivedi, weighed in on the global macro implications of this phenomenon in a note titled: The shale revolution is changing the global energy landscape.
The note actually goes further, talking about how the entire economic landscape could potentially change.
The main impact, they write, is that oil prices will no longer prove a brake on growth:
...shifts in production are gradually loosening the oil price constraint that has been a persistent feature of the global economy. If global demand growth can recover, the risks that it will be choked off by rising oil prices are receding.
This will produce a knock-on effect for household incomes in the West, while blindsiding petro-states:
The drag on household incomes in the developed world from this source should end.
The flipside of the improving terms of trade for these consumers, of course, is a less friendly picture for producers and producing countries, where the sustainability of spending based on sustained high oil prices may
(snip)
The lion’s share of this would come directly from improving net energy exports, similar to the forecast increase of $136bn for net imports from our Energy team over this period, with a smaller increase coming from improved competitiveness of US manufacturers.
They conclude by depicting just how truly tectonic America's shale story can be — the third-largest on record:
Goldman Sachs
But with one key caveat: " scaled relative to a $15trn US economy, the impacts look a lot smaller."
(Excerpt) Read more at businessinsider.com ...
It would be nice if we could tell the Saudis to pound sand and Iran’s mullahs saw their income drop so much they couldn’t fund terrorism.
Come to think of it, that Chavez guy, if he’s still around, may be looking for a new job too. Russia’s big money maker won’t be. They can kiss their military modernization plans good by.
Let’s do it!
The big implication isn’t that the US will be producing more, but that there are far larger recoverable reserves and production opportunities around the world. The US is surely not the only country with a Bakken-type formation. Petroleum production opportunities are probably nearly ubiquitous. This stuff will get exploited at some point, but even the knowledge or suspicion that its out there will make oil shock threats much less likely.
Ping.
Ping.
Ya gotta know that this is like a massive case of acid reflux for The Messiah!
Obozo will stop this through the EPA and Executive Order.
Game, Set, Match... Muslim bruddahood.
“The big implication isn’t that the US will be producing more, but that there are far larger recoverable reserves and production opportunities around the world.”
The map I saw of potential reserves showed Australia as a major player - good for Crocodile Dundee and the good guys!
The key is to keep Obama and his Communists from Nationalizing the Oil Industry. Point of reference: Obama’care.’
Here are some of the worlds reserves, maps.
Hollyweird's already crankin up the propoganda machinery with a new ready to realease show called "Promised Land." I just seen the trailer tonight and It showed a poor dumb farmer whose whole frickin farm and everything growin on it turnin brown all of a sudden!!! (because of "frackin")
What happened to your other thread about the end of the whirled in less than a month???
Muslims are still gonna control oil production.
Just so it isn’t the Democrat’s Muslim.
He’s in a win-win siruation if he doesn’t blow it. Production will go up, but he can make a show of slowing it, making it safer, cleaner and so please the Greenies. Lower energy costs is bound to buoy the economy, so oil may save Obama from himself and enable him show modest gains and maybe wins one or more houses in 2014. Caution: the East Texas field flooded the oil marke tin 1931-35, but use was too low to put much air in the industrial balloon.
He’s in a win-win siruation if he doesn’t blow it. Production will go up, but he can make a show of slowing it, making it safer, cleaner and so please the Greenies. Lower energy costs is bound to buoy the economy, so oil may save Obama from himself and enable him show modest gains and maybe wins one or more houses in 2014. Caution: the East Texas field flooded the oil marke tin 1931-35, but use was too low to put much air in the industrial balloon.
Wouldn’t it be lovely to let the middle east sink back into the 14th century and let the Western world get on with civilization without constantly being dragged down to their level?
“The Shale Oil Revolution Is Real, And It Will Have A Massive Impact On The Global Economy”....
Until Odumbo shuts them down with another “Executive Order”.
The US map at that web site indicates there are no oil reserves associated with shale in Texas or North Dakota, the locations of our largest production of oil from shale deposits so far.
It appears it is only focused on shale that contains kerogen and not oil released from shale. And the oil released from shale is the source of this increase in production.
You seem to have forgotten the East.
Which is currently beating the stuffings out of us.
Not if the Obama regime can prevent it!
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