The U.S.A. Will Be Number 3
- Thread starter Rockslinger
- Start date
This is weird. I read in the National Post on Monday that the U.S. is expected to be a NET EXPORTER of petroleum products in 2011 (first time in something like 60 years).
US Robber Barrons have been busy
Instead of using Massive newfound natural gas deposits to fuel US vehicles thereby making the US totally independent of offshore OIL, here is what has been hatched by Corporatist Robber Barrons to keep OIL prices HIGH and also reverse declining natural gas prices in the USA! Pure GREED at work to fleece folks in the USA!....
US approves first natural gas exports
By Gregory Meyer in New York Published: May 20 2011 21:37 | Last updated: May 21 2011 00:13
The US approved the first exports of large quantities of natural gas through the Gulf of Mexico, a move that could reduce a domestic glut but raise energy costs for its heavy industry.
The government’s assent will allow a unit of Cheniere Energy to refit a gas import terminal to condense and ship up to 2.2bn cubic feet a day of domestically produced supply to higher-priced foreign markets. The company’s shares rose 31 per cent.
Cheniere’s application was opposed by a manufacturers’ organisation. “For manufacturing, higher natural gas and electricity costs directly impact competitiveness and jobs,” the Industrial Energy Consumers of America said.
The push to export comes since new techniques for drilling shale rock have unlocked an estimated 100 years’ worth of gas supply in the US. Just a few years ago Cheniere and other companies were racing to import liquefied natural gas in the face of looming shortages.
Gas prices have since tumbled, with benchmark prices now $4 per million British thermal units, down two-thirds from three years ago. US domestic production is now almost 60bn cu ft a day.
Cheniere is the first of three groups to seek permission to export gas from the contiguous US. Macquarie, the Australian bank, has joined with US company Freeport LNG to export as much as 1.4bn cu ft a day via Texas. This month, a joint venture of BG Group and Southern Union requested to ship up to 2bn cu ft a day from Louisiana. The US already exports gas from Alaska.
Before signing off, the Department of Energy was required to find the exports to countries without free trade pacts would not harm the US public. The agency signalled it would not automatically vet the other applications, saying: “The cumulative impact of these export authorisations could pose a threat to the public interest.”
Houston-based Cheniere plans to begin construction next year and exporting gas as soon as 2015. “With the unprecedented growth in unconventional reserves, supply of natural gas continues to outpace demand dramatically,” said Charif Souki, chief executive. “There are currently an estimated 3,500 wells that have been drilled but not completed with the potential to continue to boost production. The U.S. has an opportunity to become a significant supplier in the global energy markets.”
The plan, still under review by the Federal Energy Regulatory Commission, is the first authorisation to export natural gas from the continental US to all US trading partners. The energy department had last September approved Cheniere’s exports to a handful of countries with which the US has free trade agreements.
Instead of using Massive newfound natural gas deposits to fuel US vehicles thereby making the US totally independent of offshore OIL, here is what has been hatched by Corporatist Robber Barrons to keep OIL prices HIGH and also reverse declining natural gas prices in the USA! Pure GREED at work to fleece folks in the USA!....
US approves first natural gas exports
By Gregory Meyer in New York Published: May 20 2011 21:37 | Last updated: May 21 2011 00:13
The US approved the first exports of large quantities of natural gas through the Gulf of Mexico, a move that could reduce a domestic glut but raise energy costs for its heavy industry.
The government’s assent will allow a unit of Cheniere Energy to refit a gas import terminal to condense and ship up to 2.2bn cubic feet a day of domestically produced supply to higher-priced foreign markets. The company’s shares rose 31 per cent.
Cheniere’s application was opposed by a manufacturers’ organisation. “For manufacturing, higher natural gas and electricity costs directly impact competitiveness and jobs,” the Industrial Energy Consumers of America said.
The push to export comes since new techniques for drilling shale rock have unlocked an estimated 100 years’ worth of gas supply in the US. Just a few years ago Cheniere and other companies were racing to import liquefied natural gas in the face of looming shortages.
Gas prices have since tumbled, with benchmark prices now $4 per million British thermal units, down two-thirds from three years ago. US domestic production is now almost 60bn cu ft a day.
Cheniere is the first of three groups to seek permission to export gas from the contiguous US. Macquarie, the Australian bank, has joined with US company Freeport LNG to export as much as 1.4bn cu ft a day via Texas. This month, a joint venture of BG Group and Southern Union requested to ship up to 2bn cu ft a day from Louisiana. The US already exports gas from Alaska.
Before signing off, the Department of Energy was required to find the exports to countries without free trade pacts would not harm the US public. The agency signalled it would not automatically vet the other applications, saying: “The cumulative impact of these export authorisations could pose a threat to the public interest.”
Houston-based Cheniere plans to begin construction next year and exporting gas as soon as 2015. “With the unprecedented growth in unconventional reserves, supply of natural gas continues to outpace demand dramatically,” said Charif Souki, chief executive. “There are currently an estimated 3,500 wells that have been drilled but not completed with the potential to continue to boost production. The U.S. has an opportunity to become a significant supplier in the global energy markets.”
The plan, still under review by the Federal Energy Regulatory Commission, is the first authorisation to export natural gas from the continental US to all US trading partners. The energy department had last September approved Cheniere’s exports to a handful of countries with which the US has free trade agreements.
Harper will have sold us to the the yanks by then. ( and if not , the yanks will have just have found an excuse to invade )
I think that's probably accurate.... I look forward to the day we become just another UK, rich, small, isolated and powerful country....
OTB
Too Funny
# 1 What exactly are you doing to solve this problem?
The last time I looked whining and complaining about "Big Oil" has not really advanced fracking technology
# 2. The ones who may solve it are the big oil companies.
That would put you right back where you started.
If you put half the effort you expend complaining about others into thinking issues through in a logical non-emotional manner, you will be
a) far less stressed
b) taken seriously by others
c) far less of a loud mouthed fool
No chance the middle east dominates the world by 2050. Why do you really think the US and previous to the Tar Sands, Canada, have been reluctant to drill their own oil? Yes, it's expensive and yes, it pollutes. But one minor conspiracy that ends up being largely true is that the concept of getting the rest of the world to drain their resources first leaving the US with most of the remaining natural resources is actually a silent part of US policy.
Let's look at Lithium. Perfect example of a rare, hard to find, very expensive and profitable resource. China and Bolivia had the 2 largest reserves and really the only 2 countries that are exporting it at any significant value. Yet the United States has two of the largest deposits (which are untapped) in North Carolina and Nebraska. And lithium batteries aren't going away any time soon. If anything they are increasing.
Oil shale. Dirty, filthy, nasty and super polluting to extract. Yet at $70/barrel, very profitable to actually extract once the water problem is solved. Little known fact but the United States, just in Colorado, Wyoming and Utah has over 1.4 trillion barrels of oil locked up in shale. Assuming a 10% year over year increase in consumption, the United States has almost 100 years worth of oil. Shell and Chevron have been very quietly (go check, it's not secret they just don't talk about it but there are plenty of articles on the issue) perfecting their techniques and extraction methods for almost 15 years. there is a small time and very successful operation going on outside of Grand Junction, CO to get that oil. The only problem is water right now. Beyond that, the shale is very available.
The US continues to develop next gen nuclear reactors including the relatively waste free Feeder types. But the US won't deploy them outside of some recent grants and applications to study new reactor sites. Why? Let the rest of the world figure out the flaw, kinks and fallout (no pun intended) from earlier designs. Nuclear reactors have a huge investment to them. Older designs are inefficient. Once the feeder process is perfected, look to see the US dominate the globe in nuclear production no matter what the tree huggers end up bitching about.
It goes on and on and on. With that said, China, India and the United States of Europe (if it happens) will likely be the top names on the economic charts before this decade is done. The US is too wrapped up in it's self-inflicted identity crisis and this petty partisan bickering and the issue won't resolve itself until the 2016 or 2020 elections when the sanity that is centrists/moderates can finally start coming to power. Until then, expect more of the same from the circus that is the Republican and Democratic parties and a continual slide of America because as a nation we have our head too far up our own ass while still trying to finger the ass of every other nation on the planet.
This coming from a born/bred American (who just happens to love Canada and spends a lot of time here and in Europe for work). It's nice to get out of there and see/hear things from a different viewpoint too.
Let's look at Lithium. Perfect example of a rare, hard to find, very expensive and profitable resource. China and Bolivia had the 2 largest reserves and really the only 2 countries that are exporting it at any significant value. Yet the United States has two of the largest deposits (which are untapped) in North Carolina and Nebraska. And lithium batteries aren't going away any time soon. If anything they are increasing.
Oil shale. Dirty, filthy, nasty and super polluting to extract. Yet at $70/barrel, very profitable to actually extract once the water problem is solved. Little known fact but the United States, just in Colorado, Wyoming and Utah has over 1.4 trillion barrels of oil locked up in shale. Assuming a 10% year over year increase in consumption, the United States has almost 100 years worth of oil. Shell and Chevron have been very quietly (go check, it's not secret they just don't talk about it but there are plenty of articles on the issue) perfecting their techniques and extraction methods for almost 15 years. there is a small time and very successful operation going on outside of Grand Junction, CO to get that oil. The only problem is water right now. Beyond that, the shale is very available.
The US continues to develop next gen nuclear reactors including the relatively waste free Feeder types. But the US won't deploy them outside of some recent grants and applications to study new reactor sites. Why? Let the rest of the world figure out the flaw, kinks and fallout (no pun intended) from earlier designs. Nuclear reactors have a huge investment to them. Older designs are inefficient. Once the feeder process is perfected, look to see the US dominate the globe in nuclear production no matter what the tree huggers end up bitching about.
It goes on and on and on. With that said, China, India and the United States of Europe (if it happens) will likely be the top names on the economic charts before this decade is done. The US is too wrapped up in it's self-inflicted identity crisis and this petty partisan bickering and the issue won't resolve itself until the 2016 or 2020 elections when the sanity that is centrists/moderates can finally start coming to power. Until then, expect more of the same from the circus that is the Republican and Democratic parties and a continual slide of America because as a nation we have our head too far up our own ass while still trying to finger the ass of every other nation on the planet.
This coming from a born/bred American (who just happens to love Canada and spends a lot of time here and in Europe for work). It's nice to get out of there and see/hear things from a different viewpoint too.
Not to worry. The "environmentalists" funded with ME money will ensure that the U.S. be forever dependent on ME foreign oil and entangled in ME foreign wars.
LMAO!!!
Please Johnny boi, the only one I see complaining, carping and bellyaching here as usual is YOU, our resident corporate apologist. As such YOU have no credibility, except perhaps to other neutered management types who also like you don't have a clue....:eyebrows:
