US Oil Boom

[Peregrine]

The US, in that case, will be one of many suppliers. Therefore sales will be in competition with established (Saudi Arabia) or new (Brazil) suppliers. If other countries can go elsewhere, then the US has no leverage.



What has this thread to do with flying porcines or fighter jets?

I have not called you, or anyone else names, and I have always been polite, even now. Please quote a post of mine where that is not the case, with the complete context of the post I am replying to kept in mind.

Otherwise, deal with it!

Mr. Weatherman?

There you go......
As for the flying pigs....... i tried to draw an analogy between what you said and some thing that is preposterous(as pigs don't fly) Buttttttttttt...... then came a round of applause (with little pun) for the great AmErIcAnS, for doing the impossible heheeeheheheeh and that's what the video was for.

 

[Urbanized Greyhound]

We do not need to completely sever our oil import, after all, buying from those who NEED to sell is often political leverage and help to keep domestic prices low. It will take time before we see any price decrease at the consumer level and getting rid of the socialist currently in office would speed up that price decrease.

This is remarkable news . What on earth happened to the "energy -conservation " policy of Washington that was in effect for so many decades. ?
Are they so confident of their renewable fuel sources ?
Most of the futuristic tech ( Solar Cars) etc have still to be produced en-mass .

 

[VCheng]

There you go......
As for the flying pigs....... i tried to draw an analogy between what you said and some thing that is preposterous(as pigs don't fly) Buttttttttttt...... then came a round of applause (with little pun) for the great AmErIcAnS, for doing the impossible heheeeheheheeh and that's what the video was for.

Well, here is the context.

You said:

Your example is that of a man, who stands in the rain & questions the existence of clouds....

to which I responded:

Which part of the following is "bunk"? Or you just failed to respond since you have no answers, Mr. Weatherman?

FYI, a majority of oil supplies to USA are NOT from Iraq or Libya, or even Saudi Arabia for that matter.

I think it goes very well with your comment, don't you think?

I think that Americans do work hard at trying to do what is regarded as "impossible" and quite often succeed, you know, like putting a man on the moon. If needed, I am sure we could try to re-engineer the genetic code of pigs to give them wings and teach them to fly too!

(only if there is a demand for such creatures, just like there is for oil, to stay on topic! )

 

[Chogy]

I have this web paged book-marked, I use it so often.

Saudi Arabia accounts for about 15% of U.S. imported oil. We import 3X as much oil from Canada and Mexico as KSA. Iraq is 6th with approx. 7% of oil imports. Most Iraqi oil goes to countries other than the USA.

Oil imports to the USA by nation.

 

[below_freezing]

maybe the US can pay us back in oil, rather than worthless electronic numbers.

 

[VCheng]

maybe the US can pay us back in oil, rather than worthless electronic numbers.

China bought US treasury bonds, which are redeemable at maturity in US dollars. If China wants oil, it can cash them and go buy all the oil it wants.

 

[gambit]

maybe the US can pay us back in oil, rather than worthless electronic numbers.

No...More like when China needs oil but unable buy them elsewhere, China will come to US begging for a few barrels, then we will repay China for currency manipulation, IP theft, and fraud and gouge China for those few barrels. In effect, China will be paid back with Chinese money.

 

[lem34]

Excellant news maybe we will see less wars and america will decline gracefully

 

[Donatello]

No...More like when China needs oil but unable buy them elsewhere, China will come to US begging for a few barrels, then we will repay China for currency manipulation, IP theft, and fraud and gouge China for those few barrels. In effect, China will be paid back with Chinese money.

I doubt if international economics works that way......

 

[below_freezing]

No...More like when China needs oil but unable buy them elsewhere, China will come to US begging for a few barrels, then we will repay China for currency manipulation, IP theft, and fraud and gouge China for those few barrels. In effect, China will be paid back with Chinese money.

Won't happen, if you could you would. US regime has been barking about China for 60 years and our position is still solid as a rock. It is the US that's worrying about breaking up like the Soviet Union. The USSR only had a 9% budget deficeit when it collapsed, the US is now at 94% of GDP and rising. The alienation of the average American from your elites is already destroying the moral fabric of US society, such that whites and upper class minorities are already barricading themselves from the dark skinned hordes in gated communities.

 

[Anonymous user]

Its silly to compare the Saudi Arabia Oil fields to the Bakken Shale Oil play, unlike the Fields of Saudi the Bakken Shale oil is not easily extract-able and requires complex techniques like fracking or superfracking methods, plus considering this is Shale Oil its most likely the oil will be located in pockets around the several 10's of thousands of hectares in pockets making it an extraction nightmare.

Lets see
Saudi Arabia has a reserve of 267 Billion Barrels and produce about 10 M Barrels a day
The Bakken has a supposed 2 Trillion (okay lets say 500 Billion) what is its daily production? 500k daily maybe?

This Oil Shale is definitely a benefit for the US but I doubt very much it make US an oil exporter, it might just allow the US to quench her own thirst for a little longer once the Major Oil fields start declining.



Montana/North Dakota Bakken Oil Field, 4.3 billion barrels or 500 billion?
BAKKEN BULLSHIT « The Burning Platform

 

[Thomas]

Its silly to compare the Saudi Arabia Oil fields to the Bakken Shale Oil play, unlike the Fields of Saudi the Bakken Shale oil is not easily extract-able and requires complex techniques like fracking or superfracking methods, plus considering this is Shale Oil its most likely the oil will be located in pockets around the several 10's of thousands of hectares in pockets making it an extraction nightmare.

And yet they are currently doing just that. and it isn't just the US but Canada as well which has huge oil finds.

 

[Anonymous user]

And yet they are currently doing just that. and it isn't just the US but Canada as well which has huge oil finds.

So long as oil price stays reasonably high there will always be someone willing to sink a well, question is the price of sinking a well is within the 5 million dollar range pending on the methodology used and there is a good chance the well will turn up dry. Typically these independent drillers will go after the obvious big pockets of oil first, question is once the bigger pockets are gone and the smaller scattered pockets remain will the risk appetite still be the same? It would mean drilling more wells to find a smaller oil quantity.

I don't doubt the Bakken Shale has significant oil in situ, but rather the ability to viably extract the oil out in sufficient quantities to match those that are hyped up in this discussion. We have done quite a extensive research on this because we're looking to invest in one of the oil independents, that said the independents are so small that even an extraction of a few thousand barrels a day make them very profitable.

I do not know much about the Canada Oil play but if its in reference to Tar sands the environmental destruction will bring the discussions to a different level.

Chesapeake's Shale Gas is probably a better way to go IMO

 

[shuntmaster]

Great news. The only solution to Islamic terrorism is less dependence on middle-eastern oil.
Its time the Arabs go back to riding camels and living in tents.

 

[shuntmaster]

What people should realize is that oil is plentiful, but the cost of producing it varies greatly. The reason Middle East oil has been exploited first, much to the financial advantage of the Arabs is that it has the lowest cost per barrel produced. With newer technologies, the cost to produce from other sources is coming down, but is still not as low as Middle East oil.

So, more cost effective resources are used first.

India and Canada have the largest reserves of shale. Infact, there is more oil in shale than in regular crude oil. Once, the price of crude goes over $200/barell, it will be economical to get oil from shale. Then India will be one of the largest producers of oil.