Article

2014-07-05 Economy

U.S. Seen as Biggest Oil Producer After Overtaking Saudi Arabia

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Posted by Fred 2014-07-05 00:00|| || Front Page|| [6 views ] Top

#1 And gasoline is STILL over $4.00 a gallon in Californicate.

Posted by Bill Clinton 2014-07-05 01:30|| 2014-07-05 01:30|| Front Page Top

#2 The wells aren't exactly cheap.
Think local, sell global.
We can have cheaper gasoline for awhile if it gets regulated, then it will be cheaper and scarce, it being difficult to get those thieving oilmen to work for a loss.

Posted by Shipman 2014-07-05 04:27|| 2014-07-05 04:27|| Front Page Top

#3 It's not that gas is expensive, it's that the dollar has been ruthlessly debased by unending 'quantitative easings'*. Commodities stay generally relative to each other, it's the fools in control of the printing press and modern equivalent thereof that seem to generate an infinite amount of monetary units without backing.

* when the speculative game ended in 2008, a lot of institutions were stuck with vastly overpriced paper whose assets that paper reflected lost half or more of their value. After the Treasury and Fed have inflated the dollar, that paper is now on par with its face value. So while the people at the Treasury and Fed can go back and work at those institutions, the rest of us are stuck with an 'inflation' tax in the cost of those things necessary for daily living (which by the way, are not for some reason calculated in the official inflation index).

Posted by Procopius2k 2014-07-05 07:42|| 2014-07-05 07:42|| Front Page Top

#4 I am very happy that America has begun its energy independence but we could of accelerated this with a focus on coal and nuclear as well. Additionally cooperating with Canada to bring oil and natural gas South would help as well.

But remember this we send billions each month to the Middle East for oil and they hate us. Wait until we shut them off and close them out of the financial markets. They are going to treat us like Jews.

Posted by Airandee 2014-07-05 08:10|| 2014-07-05 08:10|| Front Page Top

#5 This should have happened years ago as we have paid billions to Saudis to spread their hate around the world.

Posted by Thusosh Untervehr8552 2014-07-05 09:11|| 2014-07-05 09:11|| Front Page Top

#6 Extraction is one thing; getting it to market is another. In addition to the non-Keystone pipeline, the railroads are getting another beating or two; the Bakken crude has been identified as more flammable than non-fracked crude. As a result, in addition to mandating the DOT 112/114 standard tank cars ( of which there aren't enough and the backlog for manufacturing runs out a couple years) now there is a proposed rule that will require the oil unit trains to run at only 30 mph and on designated (less populated) routes. This will only further clog an already jugged up system. And will not help prices.

Posted by USN, Ret. 2014-07-05 10:18|| 2014-07-05 10:18|| Front Page Top

#7 Trust me all of the rules the EPA and OSHA are throwing at the transport of oil and oil based products has nothing to do with safety and everything to do with limiting their ability to reach the market.

The federal government and most Democratic run (ruined?)states make considerable revenue off gasoline and oil sales taxes and excise taxes. To lower the price of gasoline would gut many state revenue streams.

It is all about the taxes and the need to feed the welfare state beast.

Posted by Bill Clinton 2014-07-05 11:10|| 2014-07-05 11:10|| Front Page Top

#8 Also don't forget the Soddies still have plenty of money to buy US politicians.

Posted by Abu Uluque 2014-07-05 12:11|| 2014-07-05 12:11|| Front Page Top

#9 ..and their handlers in the media and celebrities to manipulate the public mood.

Posted by Procopius2k 2014-07-05 12:35|| 2014-07-05 12:35|| Front Page Top

#10 North Dakota is currently "flaring" aka "wasting" 30% of the natural gas produced from its oil wells due to lack of pipeline capacity and gas-processing infrastructure. Per WSJ: North Dakota wells burned off 10.3 billion cubic feet of natural gas in April, according to state data. That amounts to nearly $50 million worth of natural gas at spot-market prices. ND Industrial Commission guidelines, which were proposed by the industry earlier this year, set targets for flaring at 23% of all gas produced by January 2015

Posted by Anguper Hupomosing9418 2014-07-05 20:14|| 2014-07-05 20:14|| Front Page Top

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