Nobody talking about U.S. energy independence?
This is a game changer. Just knowing this fact changes the leverage with which we run out policy in the Middle East.
Let that fucking region be damned and let us get out of it for ever.
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^^ Someone isn't aware we have an idiot as our president who will never allow this.
I don't get the whole energy independence thing. Oil is priced globally and while we might produce enough to supply ourselves in the event of an embargo we will still have to pay the market price. I suppose we could nationalize the oil, but I'd rather pay higher prices than become a piss poor South American country.
Only thing that is really good for us is the natural gas boom which is priced locally because of the issues with transporting it. We need to start exporting LNG and making the US a major energy exporter.
Pending that global warming is BS. I'd say the US having the world's largest shale oil reserves is a good thing, no matter how you slice it. Even if Obama is a tree hugger, those reserves aren't going to disappear any time soon. Nationalize it/slice it up among the major oil corporations. I don't give a shit. A dysfunctional American bureaucracy has to do a more efficient job than the Saudi princes at divvying up the black gold.
You have to apply for the ability to export crude and natural gas... so the government could effectively cut off our market.
Ever notice what the wti-brent arb is doing? That is why this is a big deal. Oil is far from being priced globally. If I want to buy price at say cushing, it would be priced according to WTI where as if I was buying gulf coast it would be priced according to brent. Increased US oil production would imply increased US stock at cushing driving the arb more negative which would make domestic crude which is priced off of wti cheaper.
Yeah, more arbitrage profits. When people hear energy independence they think cheap gas and screw the ME. As long as oil is priced by the market the Middle East will be vital and gas prices will be a function of this (along with legally required blend per region). Being an exporter of oil and natural gas will be good for trade purposes it isn't going to make gasoline or heating fuel in the US cheaper.
I'm not sure where some of you guys dropped off your brains, but ANT is absolutely correct. Even if the U.S. becomes the biggest producer in the world, Saudi Arabia and much of the Middle East will still have a major impact on prices If we're willing to go into a smallish producer like Libya to get things oil production back up, you better believe we aren't just going to let Saudi Arabia be.
As far as Obama putting a kibosh on this boom, you guys are out of your minds again. Production has been increasing a great deal over the past three years and is set to increase a great deal more. The incentives to shut that down just aren't there and there's no reason to believe Obama will make an about-face on this in his second term.
I do think there is more benefits than just the natural gas boom however. Ultimately, becoming a large exporter should have the effect of reducing prices somewhat on a global basis and will help our trade balance, both of which are quite positive for the U.S. economy.
I personally believe in changing weather patterns, but so what. The US going green isn't going to stop China, India or the other developing nations from being major polluters. What is will do is raise the price of a lot of things.
Now I am cool with that. I am all about solar and wind. I pay 50 bucks for electricity a month. Triple it, cool with me. But you know who it isn't cool with? Poor people. I am also cool with organic food and humane farming. I only buy organic, but I can afford to. You know who can't? Poor people.
So lets be flat out honest. If you give a shit about the poor you really can't be all about green causes. Now I don't really give a shit so I am about green causes, but I think the Democrats need to come to grips that the causes that mean the most to the educated elite that run the party also fuck the people who elect them.
How about the government start approving new nuclear facilities. We need base load power. Sun doesn't always shine and the wind doesn't always blow. We have no efficient way to store power so we need something to run when the other stuff isn't. Nat Gas can do it, but then you have environmental people bitching about fracking.
Pretty much a no win situation.
http://en.wikipedia.org/wiki/The_Next_100_Years
http://en.wikipedia.org/wiki/The_Next_100_Years[/quote]
Going to second this book. Great read if a bit fantastical at times, but the case that the author makes for space-based solar power is both logical and achievable.
[quote=SirTradesaLot]The Sun is always shining in space. If you haven't read this book, you should check it out.
http://en.wikipedia.org/wiki/The_Next_100_Years[/quote]
The premise sounds interesting, but is it an enjoyable read? I'm guessing you'll say yes, but I'm hoping it's more than just a guy's well-thought out rants about the future.
with domestic production combined with imports from Canada and Mexico, we will be energy independent by 2020
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