As the sheeple fill up their tanks for holiday trips, paying over $3/gal. for gas, do not celebrate this “oil boom” too loudly. Our shale oil will be sent from Cushing, OK to Houston for refining and then shipped to Japan and China.
Our devalued dollar will still be used to price gasoline, unfortunately, so we will still be screwed.
You have a good point there. However in my mind the BIGGEST and Brightest aspect of all of this new recovery of oil through horizontal wells is that it was the spike that ended the dreams of the Democrats and so-called elites to totally kill the U.S. during BHO terms of office.
Yes they still might succeed, but they would be finished by now if it hadn’t been for the ‘new’ energy boom in petroleum.
“...it was the spike that ended the dreams of the Democrats and so-called elites to totally kill the U.S. during BHO terms of office.”
Good point, Working Man. The oil industry gave us the only genuine boost in the disastrous Obama economic bust, so that helped the Red States that were smart enough to seize this life line.
We can’t count the phony boost on Wall St., because the Federal Reserve was pumping their funny money onto the trading floor, inflating the stocks bubble that will burst one of these days, making the first round of bailouts look puny in comparison.
What's going to piss me off is that the Democrats will take credit for the economy this industry saved from destruction - and the Kool-Aid drinkers will extoll them, just as they did Clinton, who profited from $10 a barrel oil.