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driven
User Rank
Iron
Re: how the numbers stack up
driven   5/29/2012 2:11:05 PM
NO RATINGS
I don't think Obama wants to address the issue that more drilling  (and pipelines) could produce some significant benefits. Rather, he clings to the notion that conservation is the only answer.

AskAsa
User Rank
Platinum
new and old
AskAsa   5/25/2012 2:36:07 PM
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I loved the idea of new solargy lights helping in the production of traditional oil. How perceptive you are Noreen.

The symbolism behind that idea is awesome  and far reaching in so many ways.

Street Smart
User Rank
Platinum
Re: how the numbers stack up
Street Smart   5/25/2012 11:22:01 AM
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I was struck reading @Noreen's post about what good news the Bakken activity seems to be for the US--new oil reserves, all of the economic activity, seeming to reduce our dependence on foreign oil...even just a little.

So, the question I started asking myself is "Why aren't politicians taking more credit for this?"

The only answer I could come up with is that Obama seems to want to lowball our oil reserves.  I'm confused...as is Fact Checker in the below article.

http://www.washingtonpost.com/blogs/fact-checker/post/us-oil-resources-president-obamas-non-sequitur-facts/2012/03/14/gIQApP14CS_blog.html

tokyogai
User Rank
Platinum
Re: how the numbers stack up
tokyogai   5/25/2012 9:50:53 AM
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I agree completely. It will take decades and a lot of discovery to change that.

Scott Raynovich
User Rank
Blogger
Re: how the numbers stack up
Scott Raynovich   5/25/2012 9:49:13 AM
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I'm not saying it's bad for America -- it's good.

But lets not get carried away. We still import boatloads of oil.

tokyogai
User Rank
Platinum
Re: how the numbers stack up
tokyogai   5/25/2012 9:12:46 AM
NO RATINGS
Scott- very true. But our production is up for the first time in a lot of years. At least some of the money is staying in our economy.

Scott Raynovich
User Rank
Blogger
Re: how the numbers stack up
Scott Raynovich   5/25/2012 9:01:23 AM
NO RATINGS
@Noreen

Here is the full picture from the EIA. We are still a long way from exporting crude!

http://205.254.135.7/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_w.htm

Scott Raynovich
User Rank
Blogger
Re: how the numbers stack up
Scott Raynovich   5/25/2012 8:57:17 AM
NO RATINGS
Right, I understand that about the gas. Which means there will be even more gas in the future. There are also huge transportation and storage issues. Not enough infrastructure to support all of the energy products that will be coming to market.

Also I recall somebody is going to build a giant chemical plant in N. Dakota. The chemical industry uses a ton of Nat Gas and NGLs so it will be a pretty good deal for them. This is why if the price of oil holds up and nat gas bounces back a little the Bakken could boom for years and years.

Scott Raynovich
User Rank
Blogger
Re: how the numbers stack up
Scott Raynovich   5/25/2012 8:54:54 AM
NO RATINGS
That's gasoline. We still import crude, I'm pretty sure.

It's complex because of the Canadian oil sands, the pipelines, and the refinery process. We have a lot of refineries that are importing Canadian oils sands oil and refining it and then exporting the refined product from the Gulf coast. This is why the Keystone pipeline is a big deal.

Noreen Seebacher
User Rank
Blogger
Re: how the numbers stack up
Noreen Seebacher   5/25/2012 8:50:44 AM
NO RATINGS
The U.S. Was Net Oil-Product Exporter for First Time Since 1949 in 2011. http://mobile.bloomberg.com/news/2012-02-29/u-s-was-net-oil-product-exporter-in-2011.html

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