Was looking at the Jamaica Gleaner newspaper on line, and read an article stating that the US was increasing oil production so fast that we will likely become the top producer of oil soon. Say What? How can this not be a huge topic of discussion here? Why do I read about it on a paper from a very distant place?
http://jamaica-gleaner.com/gleaner/20121024/business/business3.html
I have no links to back this up...
The U.S. was a net EXPORTER of gas for the last few years.
cwh wrote: How can this not be a huge topic of discussion here?
Topic all over the US? No idea, unless an upcoming election brings out the he said, she said tree hugger vs SUV types and neither side wants that.
Topic @ GRM? See above......
It was on NPR this morning.
AMERICA!!!
Awesome!! Can't wait for Diesel to get back to $.99 or less. Should be happening soon with this promising news!
In reply to unk577:
That won't happen.......they've conditioned us to paying a certain amount. It won't change, and most of ours will probably go to china anyways.
Sarcasm doesn't come across very well huh?
I'm well aware of this topic. Why not all over this board? Prolly because we couldn't discuss it without involving politics, which is a significant factor.
Sarcasm will soon go the way of civility and corporate ethics, as there is no way to currently express sarcasm via a text message. That, or it will become the de facto standard and it will be assumed to be present in each and every communication.
Global market. Price is based on Global supply and demand.
unk577 wrote: Sarcasm doesn't come across very well huh?
My bad, haven't reached my nicotine threshold for the morning yet....
So you're saying that I should be wary of anyone promising to lower oil prices? Or that a company will sell to the highest bidder no matter what, and then buy golden toilets if it means they can declare a loss?
from what I've read, it won't lower prices due to rising demand. Also, the US needs to build more refineries...
So why do we need to drill in national forests and other public lands?
Last I heard the debate wasn't about one side limiting the number of refineries.
In reply to PHeller:
Because people don't want a well head and derrick in their back yard......
Gasoline prices in Ohio recently dipped below those in SC for the first time in...well, as far back as I can remember.
SC votes red. Ohio's a swing state. Coincidence?
This was also on the front page of our local newspaper today. So it's new news, and is being covered. Being on a Jamaica paper the same day as a US paper is not surprising, since we no longer rely on the pony express to get news around.
volvoclearinghouse wrote: Gasoline prices in Ohio recently dipped below those in SC for the first time in...well, as far back as I can remember. SC votes red. Ohio's a swing state. Coincidence?
Yes.
The only reason prices are dropping is the switchover to winter blend fuels.....
...neatly timed with a hotly contested election with an incumbent president.
still coincidence, but the reason is winter blend.....
cover story on CNN today.
U.S. to become biggest oil producer - IEA
http://money.cnn.com/2012/11/12/news/economy/us-oil-production-energy/index.html?iid=HP_LN&hpt=hp_t1
"LONDON (CNNMoney) -- The United States will overtake Saudi Arabia to become the world's biggest oil producer before 2020, and will be energy independent 10 years later,"
Old men smoking cigars and drinking scotch around a table set things in motion to make this happen 60 years ago.
Where is all this oil coming up?
When do I get my oil check?
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