Posted on 04/17/2016 7:51:12 PM PDT by Elderberry
The story of the history of the United States is one of innovations and infrastructure working in tandem to forge new trade channels and routes. Some were abhorrent, like the triangle trade, which involved slaves and agricultural materials. The Erie Canal linked the farms of the Midwestern U.S. with the consumers of the Eastern Seaboard and Europe. The invention of electronics and personal computers created heavily traveled trade routes linking factories in Asia to ports on the West Coast of the United States. And now it’s fracking’s turn.
Fracking has fundamentally altered America’s economic trajectory by liberating vast resources of both oil and natural gas from the ground beneath our feet. And until very recently, these supplies were essentially stranded. The U.S. has a reasonably good system for moving crude oil around the U.S. — pipelines, and trains in a pinch. But laws prohibited the oil from being exported. (The ban was lifted last year.) Supplies of natural gas were even more constricted. To export oil, you simply pump crude onto one of the thousands of tankers that ply the seas, which can unload them with relative ease at thousands of points around the world. Moving natural gas around the globe is much more complicated. You need very expensive, highly specialized equipment to process it into a liquid form so that it can be shipped; highly specialized ships that can carry the cargo; and, finally, dedicated terminals that can unload and process the gas.
Until this year, the U.S. had no functioning capacity to export liquefied natural gas.
Which is too bad. Precisely because it doesn’t easily move around the world, the price of natural gas varies widely across the globe.
(Excerpt) Read more at dallasnews.com ...
“You get to make Soros and EU elites rich”
Why would they get rich due to a lower price of oil and gas?
The ecowhackos and bicoastals who won’t produce their own don’t want the rest of us to have an economy, they just want ours cheap. Besides, the EPA has done plenty of damage in the Intermountain West and Plains States, but there is so much more left to do.
Fine. Drill your own natural Gas, then.
I like the system we have now. I like paying under 2 dollars. Much better.
I like the price, too, and I’d bet we use it more in North Dakota than you do in Florida. But I liked making a decent paycheck even better. Low prices will lead to the next spike and another ‘boom’, eventually.
Based on what the government says we have 84 years left. Meaning if we don’t discover more by 2100, we’re out. Somehow, I doubt that. did you notice Peak Oil came and went. Is anyone talking about that anymore?
We have the ability to wage economic war against Putin and he can’t do anything about it. Sixty-eight percent of Russia’s income comes from oil and gas sales. With the failure to reach an agreement during the recent conference, the Middle East is still in a punishing pump all they can mode.
We might as well help them out in their race to the bottom. Us exporting natural gas means Russia has to sell more oil to make up for their revenue losses. We may be able to escape the leash of our Saudi masters. Did you know they’ve been financing the anti-fracking agenda?
Exporting natural gas is the equivalent of putting a stake through their hearts. Anything that shoves oil and gas prices lower also means the Middle Eastern nations financing terrorism’s will have to tell many of the terrorists to get day jobs. The free lunch is over.
We won’t run out. I worked in the NG industry for 40 years. In the 70’s we rationed NG, sure that we were going to run out, but technology unleashed new supplies. That tech never sleeps and we are constantly looking at new formations. Right now the Marcellus shale produces the most gas, and the reserves there have been written up to almost triple what was originally forecast. Just beneath it is the Utica shale, which has proven to be even more prolific based on test well results. 84 years is based on what we know today. 50 years ago we thought we only had 10 years worth of future supplies, but we found more. That cycle will continue. I think we have unlimited supplies available just waiting to be discovered. Remember we only extract less than 30% from existing reservoirs with today’s technology. In future years we will learn how to extract much higher levels.
FRACKING A!!
I wish more cars were running on natural gas, keep them TRILLIONS of dollars here instead of sending it to countries that want to kill us AND, what would that do for our economy? AND theirs??
http://www.intellinews.com/comment-this-is-why-oil-prices-won-t-go-up-much-more-95201/
The oil price is high today due to a strike in Kuwait, when it is over later this week the price will go south.
Biggest traitor Chesapeake Oil. They were almost bankrupt until they started the Chinese sell out.
The Obama Administration never said no like the Bush administration.
Now Chesapeake Oil is rolling in the dough or Yen or whatever the Chinese equivalent of the $$ is
Why would they get rich due to a lower price of oil and gas?
Soros and EU insider elites will not pass on the lower prices of oil and gas to the EU consumers (more properly: Serfs) because they are ruling the EU Fascist/Socialist economic system backed by the EU governments.
I anticipated that you could give a rational answer. If I rephrase the question you can give it a try: Why would they get rich if the price of oil and gas is lower (or higher)?
They’ll provoke a crisis to cause Russia to cut off the gas to Europe, and will be waiting with much more expensive gas to sell to a hostage population in the middle of winter.
That is not possible.
Which part is not possible?
“will be waiting with much more expensive gas to sell to a hostage population in the middle of winter.” and get rich by doing that?
Did you miss the part about a cut-off of Russian gas and the supply and demand implications thereof?
No.
How could Soros and the EU elite be rich due to the above?
Yes it means Americans will pay more for natural gas. thanks a lot.
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