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Old November 2nd, 2011 #1
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Default U.S. poised to become not only energy independent but the world's largest oil & propane producer...

Pendulum Swings on American Oil Independence
Posted: 31 Oct 2011 05:28 PM PDT
Chart here:

From Ed Crooks, writing in the Financial Times:

"Along with oil booms that are under way or expected across North America, from Alberta to Texas, is a development that holds profound implications for the economy of the US and its status as superpower. In prospect is energy independence – a decades-old dream of American politicians of all stripes.

“Over the past couple of years, there has been a great U-turn in US oil supply,” says Daniel Yergin of IHS Cera, the research group. “Until recently, the question was whether oil imports would flatten out. Now we are seeing a major rebalancing of supplies.”


Many analysts expect that in the coming decade the US will leapfrog Saudi Arabia and Russia to become the world’s largest producer of liquid hydrocarbons, counting both crude oil and lighter natural gas liquids such as propane and ethane. That optimism reflects the increasing flow of “tight oil” as well as gas from shale – rock formations holding reserves unlocked through new extraction technologies.


Hydraulic fracturing (pumping a mix of water, sand and chemicals underground at high pressure to crack the rock) and long-reach horizontal drilling (sending wells up to a mile sideways and more than a mile below the surface) have transformed US gas production, opening up reserves some estimate will last 100 years. Now these techniques, used in places such as North Dakota, are having a similar impact on oil output. Already, America has cut the share of its oil consumption met by imports from more than 60 per cent in 2005 to 47 per cent last year (see chart above)."


Read more here.

 
Old November 3rd, 2011 #2
zzdiesel
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They think the fracturing is causing a lot of earthquake activity in central Arkansas.
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Old November 3rd, 2011 #3
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oh great. Now we'll be ale to support our population of brown-faced trash even longer.
 
Old November 3rd, 2011 #4
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Quote:
Originally Posted by zzdiesel View Post
They think the fracturing is causing a lot of earthquake activity in central Arkansas.
Injecting chemicals into the water table is not exactly healthy, either.
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Old November 3rd, 2011 #5
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how come we just now discovered all this gas under the ground? It's probably all a big scam. Bid the stocks up, then jews take a dump on the suckers.

I really believe it could be true, that they have discovered enough oil to last 10,000 years, and they are just keeping it a secret. That BP oil spill, was out of the Macondo Prospect. (
Macondo_Prospect Macondo_Prospect
). When they discovered that there were news stories all over about how it would double the US oil reserves, ...then it all got hushed up, they classified how big it really was, and said it was really only 50 million barrels. Then when it broke loose, they admitted it was so massive it would NEVER run out of oil.

It is possible they were lying at first, about how big it was, to inflate their stocks. That's what corporate raiders do, they buy a company, rape it, ship the factories to China, all just to boost the earnings for one year so they can bid the stock up then dump the company. Corporate Raiders are economic arsonists.
 
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