US On Verge of a Renaissance as Energy Boom Begins

[Fritzo]

The US has been wanting to wean itself off of oil imports for decades, but at the time it just seemed to be wishful thinking. Then we stared experimenting with fracking and oil shale deposits---and it turns out they're several times more viable than previously thought. The US may be poised for a new economic boom:

http://www.nbcnews.com/business/power-shift-energy-boom-dawning-america-1C8830306

Kind of nice seeing some good news after enduring the last 12 or so years.

 

[techs]

Renascence?

Well, apparently we aren't on the verge of proper spelling. :whiste:

 

[thereds]

Rena-what?

 

[Fritzo]

Rena-what?

Spel chek fail. Corrected.

 

[shortylickens]

I'd like to correct the spelling, but google is being a bitch today.

 

[shortylickens]

renaissance.

Thanks Bing.

 

[BladeVenom]

Environmentalists will try to kill it.

 

[runzwithsizorz]

renaissance.

Thanks bing.

hey!, you didn't build that.

 

[Kadarin]

The US has been wanting to ween itself off of oil imports for decades

The word you are wanting to use, by the way, is "wean".

 

[mnewsham]

The word you are wanting to use, by the way, is "wean".

beat me to it!

 

[nehalem256]

Sarah Palin was right. Drill baby drill.

 

[shortylickens]

Environmentalists will try to kill it.

What do environmentalists have against Bing?

 

[The Boston Dangler]

Environmentalists will try to kill it.

people that don't want giant sinkholes and poisoned water will try to kill it, and fail.

 

[TwiceOver]

Lets all get one thing straight first, the US does not want to ween itself off oil imports.

1. It's cheaper than ours.
2. Why use up ours, when we can use up theirs?

 

[darkewaffle]

Peak oil, we're all screwed!

Environmentalists will kill it.

Not kill it per se, but if we learn nothing from the last few centuries of destructive harvest then that'd be pretty retarded. It's paramount that we find a middle ground between expansion and protection.

 

[MaxPayne63]

people that don't want giant sinkholes and poisoned water will try to kill it, and fail.

Most of them want giant sinkholes and poisoned water as long as it's in a country across the ocean.

 

[runzwithsizorz]

Peak oil, we're all screwed!



Not kill it per se, but if we learn nothing from the last few centuries of destructive harvest then that'd be pretty retarded. It's paramount that we find a middle ground between expansion and protection.

Found it; http://www.youtube.com/watch?v=4aTf5gjvNvo

 

[Fritzo]

Lets all get one thing straight first, the US does not want to ween itself off oil imports.

1. It's cheaper than ours.
2. Why use up ours, when we can use up theirs?

Not really, we're actually selling our supplies to the open market and making a nice profit. The US could eventually flood the oil market and make prices plummet. From the reports I'm seeing, we may have 1-2 centuries worth of oil supplies available that were previously inaccessible:

http://www.nytimes.com/2012/11/13/b...s-us-as-top-oil-producer-in-5-years.html?_r=0

However, with so much research into alternative power going on right now to fight climate change, we may actually start decreasing our oil usage within 20 years.

 

[The Boston Dangler]

Most of them want giant sinkholes and poisoned water as long as it's in a country across the ocean.

there's countries across the ocean????

 

[ImpulsE69]

Rent-A-Sauce.

 

[dud]

This is old news. The problem with this optimistic outlook is that the current (high) price of petrochemical fuels is partially responsible for this boom. Once the oil starts flowing en-mass the price of oil risks dropping significantly. This would be great for the consumer but could potentially stop the boom because the $$$ would diminish.

 

[ImpulsE69]

Yea it's only a boom until Exxon isn't posting triple billion profits, then suddenly production is decreased.

 

[MaxPayne63]

Yea it's only a boom until Exxon isn't posting triple billion profits, then suddenly production is decreased.

I hope all the people that complain about BIG OIL never look at the sort of margins Intel, IBM, Google, Apple, etc, enjoy.

Damn greedy corp... ooh, shiny plastic!

 

[Franz316]

The decline rates for these fracked wells is really unsettling. The amount of wells that have to be drilled just to keep production flat is quite a lot. They drill the most productive areas first so that means even more wells required. It also takes a huge amount of capital investment in order to keep the drilling going. Keep in mind that horizontal drilling oil is only really economically viable at greater than $80/barrel - meaning that it is unlikely to have an effect on gas prices.

It is a good source of oil, but try not to get carried away by the media hype.

 

[PricklyPete]

Runs to Hummer store to buy new vehicle...only to find out it no longer exists. Damn't Obama!!!

[/sarcasm]