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RWGR
06-10-2015, 08:41 AM
The U.S. has taken Russia’s crown as the world’s biggest oil and natural-gas producer, illustrating the seismic shifts in the global energy landscape caused by America’s shale fields.

U.S. oil production rose to an all-time high last year, gaining 1.6 million barrels a day, according to BP Plc’s Statistical Review of World Energy released on Wednesday. Gas output also rose, putting America ahead of Russia as a producer of the hydrocarbons combined.

The data showing the U.S.’s emergence as the world’s top driller confirms a trend that’s helped the world’s largest economy slash imports, caused a slump in global energy prices and shifted the country’s foreign policy priorities.

“We are truly witnessing a changing of the guard of global energy suppliers,” BP’s Chief Economist Spencer Dale said in a presentation. “The implications of the shale revolution for the U.S. are profound.”



http://www.bloomberg.com/news/articles/2015-06-10/u-s-ousts-russia-as-world-s-top-oil-gas-producer-in-bp-report

Anapeg
06-14-2015, 11:40 AM
It will be interesting that now with the U.S. in the drivers seat, so to speak, where gas prices will go.

RWGR
06-14-2015, 03:55 PM
So far they have gone down

Anapeg
06-14-2015, 06:25 PM
So far they have gone down

As expected to be sure but how long will it last is the $64,000.00 question. Once the producers begin to feed at the trough, will their appetites grow exponentially as happened in the sandy part of the world.

Bluesky
06-14-2015, 07:01 PM
I thought prices went down because the Arabs were flooding the markets?

Anapeg
06-14-2015, 07:10 PM
I thought prices went down because the Arabs were flooding the markets?

Trying to cause borderline producers, both in finances as well as available inventory to reach their demise? The oil sands are very quiet right now and it will have a negative impact on investors one would think. Shell has cancelled billions in forecast work with no start date. Marginal production needs a lot of cash to finance fracking or squeezing and heating the dirt to make gas.

RWGR
06-14-2015, 07:41 PM
I thought prices went down because the Arabs were flooding the markets?

And there were flooding the market to try and offset the new American dynamic, so it was a cause-effect situation.

RWGR
06-14-2015, 07:54 PM
As expected to be sure but how long will it last is the $64,000.00 question.

I heard on the radio recently that oil prices, thus our prices at the pumps, will find a happy home around the high-$2/ gallon (USD), maybe $2.80-$2.85 range. This is because the free market did its job.

Oil producers over the last ten years tested the market by steadily raising the cost of a barrel of crude. They knew they'd eventually reach a tipping point on the equilibrium line, they (and us) just didn't know where that would be exactly. When we got there, it would be easy to know. We got there when gas was around $4.50/gallon (USD). That's when people said 'enough', and began driving less and found alternative forms of transportation. So the suits sat down and crunched the numbers, and found the cost-point in which they could maximize profit without people staying away from the pumps. Supposedly that point is about where we're at now, and it's not going to fluctuate all that much again (according to one theory...and of course world events can change that, too).

Just another reason why a free market economy is the best system in the world. A command economy could never go through the mechanisms we saw as it relates to the cost of oil finding a happy medium. A socialist or communist system would develop a price point that is not based on any market realities, and instead would create an artificial point, which is why those systems often fail, or are weaker than their capitalistic free market neighbors.

Barry Morris
06-14-2015, 11:07 PM
Depends on which economist you talk to.

RWGR
06-15-2015, 07:47 AM
Depends on which economist you talk to.

Source?

Link?

Can you show an economist who doesn't subscribe to this general theory?

You're just mad because you've been celebrating the eventual decline of the American Powerhouse on here for years...but you didn't see this latest game-changer coming.

Barry Morris
06-15-2015, 10:08 AM
Source?

Link?

Can you show an economist who doesn't subscribe to this general theory?

You're just mad because you've been celebrating the eventual decline of the American Powerhouse on here for years...but you didn't see this latest game-changer coming.

Some how you feel that the USA will take a different, always rising, never failing track from any other civilization in history. Predicting the decline of the "American Powerhouse" isn't celebrating, it's just a reference to history.

All I can say is, Good Luck, and, I don't believe in luck.

RWGR
06-15-2015, 11:40 AM
Some how you feel that the USA will take a different, always rising, never failing track from any other civilization in history. Predicting the decline of the "American Powerhouse" isn't celebrating, it's just a reference to history.

All I can say is, Good Luck, and, I don't believe in luck.

Where did I say the USA will not take the track of other civilizations?

What I am saying is you and your fellow doom-n-gloomers have been predicting (hoping for) the downfall of the USA for a long time, and time and again you're proved wrong.

Barry Morris
06-15-2015, 12:53 PM
Where did I say the USA will not take the track of other civilizations?

What I am saying is you and your fellow doom-n-gloomers have been predicting (hoping for) the downfall of the USA for a long time, and time and again you're proved wrong.

A long time?? Really.

Tell ya what, Rome wasn't built in a day, and it certainly didn't fall in a day. The USA wasn't built in a day either, but there's a good chance it will burn in a few short minutes.

As I said, good luck.

RWGR
06-15-2015, 04:41 PM
The USA wasn't built in a day either, but there's a good chance it will burn in a few short minutes.



Thank you for absolutely, 100% proving my point.

Some people read the Book of Revelation completely wrong. Thinking it's basically a Hollywood script for the End Times (our times, how convenient??), they must try to fit current events into their misguided scenarios.

You would think people would have learned after seeing what an absolute fool Hal Lindsey made of himself.

Barry Morris
06-15-2015, 10:40 PM
Thank you for absolutely, 100% proving my point.

Some people read the Book of Revelation completely wrong. Thinking it's basically a Hollywood script for the End Times (our times, how convenient??), they must try to fit current events into their misguided scenarios.

You would think people would have learned after seeing what an absolute fool Hal Lindsey made of himself.

What does the bible have to do with this???

Man has the capacity to destroy himself. I think the obvious first target is the good ole' USA!!!

RWGR
06-16-2015, 11:22 AM
What does the bible have to do with this???

Man has the capacity to destroy himself. I think the obvious first target is the good ole' USA!!!

Because we are the Gold Standard, I'll give you that.

And, please, don't pretend you don't look at EVERY current event through the prism of your defective interpretation of Revelation.

I post a link showing the USA is now world’s biggest oil and natural-gas producer. That is highly significant, and something few people saw coming.

You infer some rogue group or nation will nuke the USA off the map, juts because rogue nations or groups like to do that.

Again, so flimsy and elemental it wouldn't pass the smell test for a middle school paper on current events.

Barry Morris
06-16-2015, 01:45 PM
Because we are the Gold Standard, I'll give you that.

And, please, don't pretend you don't look at EVERY current event through the prism of your defective interpretation of Revelation.

I post a link showing the USA is now world’s biggest oil and natural-gas producer. That is highly significant, and something few people saw coming.

You infer some rogue group or nation will nuke the USA off the map, juts because rogue nations or groups like to do that.

Again, so flimsy and elemental it wouldn't pass the smell test for a middle school paper on current events.

If I had to pick a denomination that interprets scripture in a self-serving way, it would be yours.

I sincerely hope that you are right about the USA NOT being blown away by one of those "rogue" countries.

Because you will drag many down with you.

Becoming the biggest producer of a non-renewable resource is nice, but it won't last forever. And there is just no will in the USA to plan ahead enough to overcome the inevitable running out of oil. That's what capitalism bring you.

RWGR
06-16-2015, 04:10 PM
If I had to pick a denomination that interprets scripture in a self-serving way, it would be yours.

I'd ask for an example, but you couldn't give one.

No Christian believed what you believe about the "End Times" until the mid-19th Century. You have bought into the snake oil sold by John Darby. The Catholic Church, on the other hand, has been consistent in her stance on the issue for centuries.

I sincerely hope that you are right about the USA NOT being blown away by one of those "rogue" countries.

Because you will drag many down with you.

The USA being attacked will "drag" others down.

That's in complete contradiction to the stance you and Sock had this past winter, when you inferred that a USA collapse would have little affect on Canada.


Becoming the biggest producer of a non-renewable resource is nice, but it won't last forever

Forever, no. But a few hundred years, which is plenty of time for the world to figure out new ways and energy sources.


And there is just no will in the USA to plan ahead enough to overcome the inevitable running out of oil.

Again, childish speculation with nothing to back it up.

You and your ilk were giddy over the 'fact' the USA was forever dependent on the Middle East for most its energy needs. Now that all of that wishful thinking has been turned on its head you guys need some other 'what if' scenario to base your hopes on a US decline.

That's what capitalism bring you.

It brought us the will to move on from Middle Eastern oil and to develop our own resources right in our backyard. You doom-n-gloomers never saw it coming, and it took away a favorite go-to scenario you've clung to for so long now.

Indeed, that is what Capitalism has brought us.

Capitalism wins.

Barry Morris
06-16-2015, 04:51 PM
Jesuit futurism.

RWGR
06-17-2015, 09:15 AM
Jesuit futurism.

I forgot Jesuits formulate Catholic dogma, and ...



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