I drove through Three Rivers today, gas is the same price as San Antonio and New Braunfels. Filled up in Corpus where the refineries are, no difference.
Drill baby drill doesn’t do a damn thing for our prices.
This story gets better. See.
http://www.freerepublic.com/focus/news/3041479/posts?page=1
In the last year, Citibank predicted that the USA would be oil independent in five years. I used to wonder how Eagle Ford and the Bakken could scale up to produce that much oil. And if they did scale up...— the price of oil would fall below what they could produce oil for profitably—so oil production would fall.
Turns out Eagle Ford and the Bakken don’t have to scale up. The next mega oilfield comes out of west texas permian basin in the cline shale formation. This formation is twice as big as Eagle Ford and the Baaken COMBINED.
What’s more they’ll be able to extract the oil in the Cline shale formation at much lower costs than those in the Bakken fields —so even when prices fall their margins will be so high —they can keep on drilling.
We’re coming up to a real sweet spot in the oil patch in the next decade.
The thing is, the Eagle Ford formation extends down into Mexico.
http://fuelfix.com/blog/2013/05/09/u-s-mexico-collaboration-seen-necessary-on-eagle-ford-drilling/
Its a shame Mexico can’t drill for oil/gas there. That would help make that country rich rather than just fat.
Mexico has recently replaced the USA as being the #1 country with fat people.
http://www.itwire.com/science-news/health/60665-mexico-replaces-america-as-fattest-country-in-world
Come to think of it, that might be a great republican slogan.
“Help Mexico become rich and not just fat.”
That way fewer illegals would come north and those illegals north of the border would have lesser incentives to stay & send remittances south.