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#1 A leadership overhaul and we could be in a booming economy. Our problem is lack of leadership.
Posted by Alaska Paul 2013-01-20 02:47||
#2 Glenmore will enlighten us I hope, but this isn't about crude, we'll be importing that for awhile yet, this is about all the other weird shit you get from wells, refineries and industrial magic tricks.
Posted by Shipman 2013-01-20 05:42||
#3 The amount of crude we are getting from shale's is immense, so it's really not long before we could be completely self sufficient. The biggest problem is, we don't have the refinery capacity now for most of what we have. That's the true bottleneck right now and good luck trying to build any cause the EPA and greenies will demand their pounds of flesh.
Posted by Silentbrick - Schlumberger Squishy Mud Division 2013-01-20 06:23||
#4 No worries. The Obafuhrer's EPA will keep the shale people and domestic prosperity in check. Perpetual crisis, problematic gloom, and fairness through gov't regulation are the lot of his subjects, not prosperity. As you may recall, he bows to the KSA; chin elevated to the zeks.
Posted by Besoeker 2013-01-20 07:50||
#5 Its about time we did not rely on the saudis/wahhabis as they are our True enemies in the WOT.
Posted by Glosh Smith8260 2013-01-20 09:22||
#6 One way to become the largest producer is for KSA and Russia to reduce production, on purpose or by hostile actionc(s).
Don't look for self-sufficiency. And it's not (just) about refinery capacity. Mainly it's competition - our 'new' oil production is at the high cost per barrel margin, and can be replaced with lower marginal cost oil from other places as it becomes available (e.g. if pipeline capacity from Alberta tar sands explands, if foreign oil shale fracking projects ramp up, etc.) Also, can our development survive political opposition (to fracking, to Keystone, etc.)? And can we find enough qualified workers willing to work in North Dakota and/or South Texas?
Posted by Glenmore 2013-01-20 09:57||
#7 Someone should explain to Mexico how much wealth would flow their way if they built a refinery someplace safe. Say halfway up Baha for example. Quick jaunt up to southern california.
Posted by Rjschwarz 2013-01-20 10:03||
#8 This is not likely unless the Saudis cut back a lot.
US production should make it to 6.2 M bar/day by the end of the year, maybe higher, but the Saudis are currently doing about 8 M bar/day
Posted by lord garth 2013-01-20 10:07||
#9 I'm all for fracking and shale production. But from what I've read here in Colorado, where are we going to get the required water?
Posted by Sperong Untervehr5879 2013-01-20 12:10||
#10 where are we going to get the required water?
Likely from recycling - it's already starting to happen.
Posted by Glenmore 2013-01-20 13:11||
#11 You will get the water from rain.
You will raise the price of water to accommodate the market for it.
High water, low yield stuff like growing corn will stop. High water, high yield stuff like oil will start.
Economics, it works if you let it.
Posted by rammer 2013-01-20 23:33||