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| Economy |
| US shale oil supply shifts global power balance |
| 2013-05-15 |
| h/t Instapundit A steeper-than-expected rise in US shale oil reserves is about to change the global balance of power between new and existing producers, a report says. Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA). The US will change from the world's leading importer of oil to a net exporter. Demand for oil from Middle-East oil producers is set to slow as a result. The end of Islam as a factor in World affairs---unless, of course, their man in White House manages to derail USA oil production. |
| Posted by:g(r)omgoru |
| #8 But every welder who actually gets a job at a refinery is one that doesn't need an EBT card to feed his kids. |
| Posted by: Thing From Snowy Mountain 2013-05-15 20:09 |
| #7 Refineries would drive the price down, but a huge percentage of the net cost of gas is the repetitive taxes. We can be swimming in the stuff and still have high costs to pay for the vast, parasitic government we have grown inthe past 50 years. |
| Posted by: NoMoreBS 2013-05-15 19:20 |
| #6 It ain't the price of the oil per se, but where you're paying the price and where the money circulates after you pay that price. Paying 4 dollars a gallon here may be better for our economy than paying 3.50 a gallon to a third world country where most of the money goes to the aristocracy and doesn't circulate in a productive fashion for us. |
| Posted by: Thing From Snowy Mountain 2013-05-15 18:26 |
| #5 However, we can refine the shit out of our oil Canadian oil and Messican oil and ship the fuel out, that's a value added industry right there. Refined fuels are the US (leading?) export.... we sell into the market and make a boodle. It's good. Profit makes happy. However, feel free to bitch about the price of filling up your F-150. :) Or worse... the cost of an ArcLite! With JP4 so high... hardly worth laying waste to anything. :) |
| Posted by: Shipman 2013-05-15 17:39 |
| #4 It's illegal to export oil from the US except from Alaska, which is stupid by the way. Thing of wheat...... we need all our food too, we should keep it in the US of A... I wonder what might happen if we passed a law like that. |
| Posted by: Shipman 2013-05-15 17:36 |
| #3 how about not exporting the oil.I'm sure our consumption is high enough too make a hell of a profit without selling too other countries and putting us back in the spot we have been in the last 40 years or longer. |
| Posted by: chris 2013-05-15 17:09 |
| #2 It all depends on how much and how long the enviros and Obama can block the new production. |
| Posted by: OldSpook 2013-05-15 15:11 |
| #1 Pasadena, TX Galena Park oil terminal to expand. |
| Posted by: Besoeker 2013-05-15 10:00 |