According to Goldman Sachs, the U.S. will be oil independent by 2017
.
http://www.drudge.com/news/156707/american-oil-independence-five-years
.http://www.drudge.com/news/156707/american-oil-independence-five-years
American Oil Independence
- Thread starter Rockslinger
- Start date
While that sounds hopeful it's very doubtful BIG OIL will allow it to happen. Just look at what happened to natural gas prices in the USA since massive natural gas reserves were discovered. The price of NG has dropped by ~50% in the USA! This has to shake up BIG OIL who will work dam HARD to make sure the same fate doesn't happen to them!....:Eek:
I wish I can dig out the oil production volume and price chart for
the lower 48 states. Going from around 1971 when oil production peaked and decline
steadily all the way to 2005 I remember there were a few spikes on the chart. I seem
to remember abrupt rise in production always occurred in the year preceded by a spike in
oil prices.
This time triple digit oil prices must have done its job to stimulate more
desperate drilling to squeeze one every drop of oil out of stone. There is not
one chance in hell the US will ever become a net oil exporter. If you
want the U.S. to attain oil independence by 2017 pray for an imminent
economic collapse that will wipe out the entire middle class. Oil will be a
lot cheaper when half of the population can't afford long distance
driving any more.
the lower 48 states. Going from around 1971 when oil production peaked and decline
steadily all the way to 2005 I remember there were a few spikes on the chart. I seem
to remember abrupt rise in production always occurred in the year preceded by a spike in
oil prices.
This time triple digit oil prices must have done its job to stimulate more
desperate drilling to squeeze one every drop of oil out of stone. There is not
one chance in hell the US will ever become a net oil exporter. If you
want the U.S. to attain oil independence by 2017 pray for an imminent
economic collapse that will wipe out the entire middle class. Oil will be a
lot cheaper when half of the population can't afford long distance
driving any more.
Globalism is doing a great job of wiping out the middle class....so that could happen!....:eyebrows:
That said there is a better EASIER way to achieve American Oil Independence by simply using CNG to fuel vehicles!
Detroit could ramp up and build millions of CNG fueled vehicles in 1 yr.
The US Gov should create a WPA to build all the CNG filling stations needed.
This alone would cause the price of Oil to drop like a rock!
We could then tell OPEC to drink their farking OIL because we won't need it anymore!....:thumb:
That said there is a better EASIER way to achieve American Oil Independence by simply using CNG to fuel vehicles!
Detroit could ramp up and build millions of CNG fueled vehicles in 1 yr.
The US Gov should create a WPA to build all the CNG filling stations needed.
This alone would cause the price of Oil to drop like a rock!
We could then tell OPEC to drink their farking OIL because we won't need it anymore!....:thumb:
they got no choice... green energy industries will put them out of business if they do.
Yeah, real smart. Use up all your own reserves so you're completely at the mercy of those countries with remaining oil.
You SHOULD be using up their oil first. Then when it runs out, the West still has it and the rest of the world is fucked.
You SHOULD be using up their oil first. Then when it runs out, the West still has it and the rest of the world is fucked.
The newer techniques can produce as much as 10 times more oil than a traditional well. Horizontal drilling works by digging 5,000 feet into the earth, then a mile across in several directions.
Horizontal drill and fracking are very controversial processes. They cause the ground water to be contaminated and unusable. I doubt very much that this will be allowed to happen, even if it were possible, which I doubt.
