T O P I C R E V I E W |
Randall | http://www.americanthinker.com/blog/2017/11/its_official_us_to_dominate_oil_and_gas_markets.html#ixzz4z1H3VpeW |
Randall | No more dependence on countries that hate us. |
iQ | No more dependence on countries that purchase billions of dollars of arms from USA, and maintain huge US Bases and simultaneously hate USA ? It was always a strange marriage between USA and Saudi Arabia [USA does not purchase from Iran], and it could be a messy divorce. It would be a major victory for US Economy to produce its own Crude, and it would also be a major victory for China and India as Crude prices fall. Hopefully, this would mark the end of the "Petrodollar" and enable the Yuan to be the Global Reserve Currency because the entire concept of Petrodollars was due to Aramco/USA-Saudi partnership.
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jwhop | "It would be a major victory for US Economy to produce its own Crude, and it would also be a major victory for China and India as Crude prices fall." What makes you think crude oil prices would fall if America produces enough to supply our own domestic needs and even exports crude? More crude than is needed to supply world markets won't be produced. OPEC nations...and others will cut production to stabilize prices. |
iQ | When the World's top importer like US stops importing, and another top importer China wants to ban Diesel Cars by 2040, along with Europe, then Crude Prices have to crash. Most of the planet is shifting to Solar, Wind and Tidal power, and by 2040 that will be used to charge electrical vehicles.
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jwhop | Not so fast! No one is going to overthrow the supply/demand axiom...at least...not for long. Oil producers will tailor production to match demand. When there's a glut of oil on the market, producers cut production. The notion that solar and wind will put oil, natural gas and coal out of business is a grade A delusional fantasy. OPEC’s Clash With U.S. Oil Is Nearing Its Day of Reckoning Grant Smith November 27, 2017 Strategy of cartel has helped to deplete half surplus stocks Bolstering prices is emboldening American shale-oil drillers The U.S. shale revolution is on course to be the greatest oil and gas boom in history, turning a nation once at the mercy of foreign imports into a global player. That seismic shift shattered the dominance of Saudi Arabia and the OPEC cartel, forcing them into an alliance with long-time rival Russia to keep a grip on world markets. So far, it’s worked -- global oil stockpiles are draining and prices are near two-year highs. But as the Organization of Petroleum Exporting Countries and Russia prepare to meet in Vienna this week to extend production cuts, ministers have little idea how U.S. shale production will respond in 2018. “The production cuts are effective -- it was absolutely the right decision, and the fact of striking a deal with Russia was crucial,” said Paolo Scaroni, vice-chairman of NM Rothschild & Sons and former chief executive officer of Italian oil giant Eni SpA. Nonetheless, “OPEC has not the same power. The U.S. becoming the biggest producer of oil in the world is a dramatic change.”....... http://www.bloomberg.com/news/articles/2017-11-27/opec-battle-w ith-u-s-for-oil-supremacy-nears-day-of-reckoning |
iQ | See, Crude cannot go out of business but you can forget about Saudi Delusional Pricing of 100+ dollars a barrel [the kind of cash flow that funds Salafist-Mossad Team Terror and brings down New York buildings] in the future. The World will always need lubricants and Organic Solvents. So Crude will be in play at a reasonable 40-45 dollars a Barrel in the future. USA will always need Coal, now that GOP will always be in power this century. I mean what kind of barbarians use Solar Panels? Come on. Coal it is, nothing like some ash in the sky to heal Red State Lungs. And the jobs, Oh those beautiful coal mining jobs... more precious than Bilbo Baggins treasures....
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Node | Under the 'O' man's admin....yes I am speaking of Obama.... Gas prices had gone WAY down. They have stayed there - partiality because DJT hasn't large oil interests. Also O increased US production that stayed home. When W was Prez I paid more, 3 times more. Personally I liked when W's gas prices were so high. SUV's & Hummers were on the side of the road with FOR SALE on the windshield. |
Randall | You're kidding, right? Gas prices soared to almost $5.00 a gallon under Obama. He said out of his own forked mouth that we should stop complaining, because gas prices should be comparable to overseas prices and should rise to $7.00 a gallon! They only went down, because Obama destroyed the economy, and the drop was a result of people not buying fuel, which was capitalism at work, not Marxism. |
Catalina | They went down because Saudis/ OPEC brought them down to sabotage the fracking haul. Which is price fixing at work not capitalism |
Catalina | Meanwhile the bleeding KXL1 has been shut down.. |
Randall | Economists disagree. The drop in gas prices were a symptom of stagnant growth. |