The United States Is Now the Largest Global Crude Oil Producer • Hacker News Board

Re: The United States Is Now the Largest Global Crude Oil Producer

#161

Post by toomuchtodo » Wed, Sep 12, 2018, 10:23 PM UTC

2trill2spill wrote: post #115

heisenbit wrote: post #83

There are some question marks on how sustainable the US oil boom is as the extraction methods are quite capital intensive. We are at historic low capital price and have a fairly high oil price and still the profitability picture is not pretty. To dig deeper see: https://wolfstreet.com/2018/08/15/shale-profits-remain-elusi...

Oil and Gas producers are also facing severe price discounts due to a lack of pipeline capacity in the United States[1]. One could argue that as more pipelines come on line, shale producers will start to see significantly more profits. [1]: https://oilprice.com/Energy/Energy-General/Permian-Discount-...

One could argue that shale producer profits would be limited by efforts to restrain additional pipeline deployments.

Re: The United States Is Now the Largest Global Crude Oil Producer

#162

Post by Anglobilly_F » Wed, Sep 12, 2018, 10:23 PM UTC

verelo wrote: post #160

I take pleasure in knowing that on another timeline the US is a truly great nation that has managed to completely remove its dependency on fossil fuels, and is now switching its focus to helping poorer nations do the same. It’s just a shame we are all stuck on this timeline...good for them though!

[flagged]

Re: The United States Is Now the Largest Global Crude Oil Producer

#163

Post by [deleted] » Wed, Sep 12, 2018, 10:23 PM UTC

saagarjha wrote: post #62

awakeasleep wrote: post #60

Earlier quoted context omitted.

Keep in mind a decent camel starts at $55k and a thoroughbred goes for $10m to $30m

It’s much easier to get access to the materials for camel production, though.

[deleted]

Re: The United States Is Now the Largest Global Crude Oil Producer

#164

Post by jonknee » Wed, Sep 12, 2018, 10:24 PM UTC

mikeash wrote: post #143

jonknee wrote: post #70

Earlier quoted context omitted.

Because they're incredibly slow and you'd need a giant facility to accommodate what even a tiny 4 pump gas station currently does? I live in Seattle and there are tons of Teslas, but the nearest Supercharger is way out in the suburbs at a mall so you can do something with all your waiting time.

I think the number of spots you need is actually similar. A car will occupy a spot for much more time, but it will need it much less frequently since it’s only necessary for long trips. That’s why your nearest supercharger is out in the suburbs: it’s for travelers, not locals.

We're going to need a ton more spots, it only works now because almost no one has an EV and those that do are self selected to people who can charge at home. Somewhat ironically, EVs currently work best when you live in the suburbs and commute into the city. If you live in the city you likely won't have a garage where you can charge. Even if you drive to work and your work has parking and your work parking has EV spots at best there will only be a handful.

Re: The United States Is Now the Largest Global Crude Oil Producer

#165

Post by buboard » Wed, Sep 12, 2018, 10:25 PM UTC

awakeasleep wrote: post #60

GuiA wrote: post #41

Earlier quoted context omitted.

Rashid bin Saeed Al Maktoum: "My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel" https://en.wikipedia.org/wiki/Rashid_bin_Saeed_Al_Maktoum#De...

Keep in mind a decent camel starts at $55k and a thoroughbred goes for $10m to $30m

The high price of those camels is, oddly, tied to oil riches.

Re: The United States Is Now the Largest Global Crude Oil Producer

#166

Post by jessaustin » Wed, Sep 12, 2018, 10:26 PM UTC

40acres wrote: post #64

There is not much here about whether or not the US can sustain this position long term but in the short term this development puts in an advantageous position geopolitically. NATO is very reliant on Russian oil and if the US is a top producer we can export more to Europe, although Russia will most likely remain the preferred exporter. Also, this allows us to have a more aggressive stance with Saudi Arabia, especially…

...their disastrous human rights record in Yemen.

"Their"? That should be "our". Every bomb and bullet says "Made in USA", and has since 2015. Oh and of course we've also had troops there since then as well. Who in either branch of the mainstream party do we expect to pressure KSA about the atrocities in Yemen? How about the media? Oh, wait:

https://fair.org/wp-content/uploads/2018/07/MSNBC-Yemen-Dani...

Re: The United States Is Now the Largest Global Crude Oil Producer

#167

Post by pmwhite » Wed, Sep 12, 2018, 10:26 PM UTC

djsumdog wrote: post #122

jseliger wrote: post #56

Earlier quoted context omitted.

Right now the US seems to be using oil exports to weaken other countries, rather than banking the oil and exploiting it when supply starts to dry up. I also think that some methods aren't long-term a good idea. I will second the book recommendations and I will also note that by far the best thing the U.S. can do in the short term is switch to electric and plug-in hybrid vehicles. (And I mean "vehicles" in the broades…

Purchasing an electric vehicles causes more pollution than simply driving your exiting vehicle if it's relatively fuel efficient. Drive your current car until the wheels fall off and then, if you have to buy a hybrid or electric, try to buy used.

That was my conclusion, too. The personal economics and the carbon footprint correlate surprisingly strongly. The CO2 costs of hybrids look attractive on a 5-6 year timescale, but it gets bad when the environmental costs of a new set of batteries get factored in. People underestimate the various costs of the vehicle itself, and how they look over a longer haul.

I just threw in the towel on my 20 year old vehicle for a new small gasoline engine car. I figure my odds of getting >12 years out of this vehicle are quite high.

Maybe the picture will be very different in 10 years, with improvements to battery technology. But today I stayed away from the hybrids and electric vehicles, for both fiscal and environmental reasons.

Re: The United States Is Now the Largest Global Crude Oil Producer

#168

Post by verelo » Wed, Sep 12, 2018, 10:28 PM UTC

Anglobilly_F wrote: post #162

verelo wrote: post #160

I take pleasure in knowing that on another timeline the US is a truly great nation that has managed to completely remove its dependency on fossil fuels, and is now switching its focus to helping poorer nations do the same. It’s just a shame we are all stuck on this timeline...good for them though!

[flagged]

Ha! Well, at least we get to see some fun? Thinking this way, it sure does give you a sense of detachment from everything that’s going on. I’m undecided if that’s healthy or not? I guess it all depends if you have confidence in the Multiverse space time theories.

PS on another timeline i just called you a socialist. On this one i appreciate you. It’s rough out there...

Re: The United States Is Now the Largest Global Crude Oil Producer

#169

Post by mikeash » Wed, Sep 12, 2018, 10:29 PM UTC

jonknee wrote: post #164

mikeash wrote: post #143

Earlier quoted context omitted.

I think the number of spots you need is actually similar. A car will occupy a spot for much more time, but it will need it much less frequently since it’s only necessary for long trips. That’s why your nearest supercharger is out in the suburbs: it’s for travelers, not locals.

We're going to need a ton more spots, it only works now because almost no one has an EV and those that do are self selected to people who can charge at home. Somewhat ironically, EVs currently work best when you live in the suburbs and commute into the city. If you live in the city you likely won't have a garage where you can charge. Even if you drive to work and your work has parking and your work parking has EV spo…

For sure we’ll need a ton more spots, but the total will be similar to the number of gas station spots.

For city dwellers, we really need on-street charging. That’s totally feasible, but there’s a huge chicken-and-egg problem to overcome.

Re: The United States Is Now the Largest Global Crude Oil Producer

#170

Post by drblast » Wed, Sep 12, 2018, 10:29 PM UTC

verelo wrote: post #160

I take pleasure in knowing that on another timeline the US is a truly great nation that has managed to completely remove its dependency on fossil fuels, and is now switching its focus to helping poorer nations do the same. It’s just a shame we are all stuck on this timeline...good for them though!

Hey now, oil is fantastic. The U.S. will be able to use the proceeds from this bounty of natural resources to fund an excellent public health system, just like Norway!