U.S. is now the world’s biggest oil and gas producer
blogs.marketwatch.com
U.S. is now the world’s biggest oil and gas producer
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Re: U.S. is now the world’s biggest oil and gas producer
#2What I want to know, since we only consume a fraction of it, where is all that money going?
All that profit doesn't seem to be staying inside the US.
Re: U.S. is now the world’s biggest oil and gas producer
#3What I want to know, since we only consume a fraction of it, where is all that money going? All that profit doesn't seem to be staying inside the US.
What do you mean by a fraction of it?
The U.S. is a net importer of both oil and natural gas:
http://www.eia.gov/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_...
Re: U.S. is now the world’s biggest oil and gas producer
#4What I want to know, since we only consume a fraction of it, where is all that money going? All that profit doesn't seem to be staying inside the US.
What do you mean by a fraction of it? The U.S. is a net importer of both oil and natural gas: http://www.eia.gov/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_... http://www.eia.gov/dnav/ng/ng_move_ist_a2dcu_nus_a.htm
Those numbers are hard to follow but I do not understand why if we produce so much why we don't consume our own content?
For example if the keystone pipeline was approved the majority of it would be for export, not domestic use.
Re: U.S. is now the world’s biggest oil and gas producer
#5Looks like the new arms race is about digging your own environmental grave.
Re: U.S. is now the world’s biggest oil and gas producer
#6Looks like the new arms race is about digging your own environmental grave.
I think the country that is going to win will be biggest exporter of clean water in about two decades.
Meanwhile China makes more solar panels than anyone in the world yet has the most filthy air.
Re: U.S. is now the world’s biggest oil and gas producer
#7Great. So now the US'll just run out relatively sooner than they would have done compared with those guys. WTG short-term thinking with finite resources.
Humans are idiots.
Re: U.S. is now the world’s biggest oil and gas producer
#8Earlier quoted context omitted.
What do you mean by a fraction of it? The U.S. is a net importer of both oil and natural gas: http://www.eia.gov/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_... http://www.eia.gov/dnav/ng/ng_move_ist_a2dcu_nus_a.htm
Those numbers are hard to follow but I do not understand why if we produce so much why we don't consume our own content? For example if the keystone pipeline was approved the majority of it would be for export, not domestic use.
Are you sure the majority of it would be for export?
A big driver of exports is simply the fact that lots of places don't have refinery capacity. People in such places are willing to pay more than people in the U.S., with its relative abundance of refineries.
The rest of the 'not consuming our own content' is just a logistics thing, the cheapest oil is generally used, not the oil that crosses the least borders.
Re: U.S. is now the world’s biggest oil and gas producer
#9Looks like the new arms race is about digging your own environmental grave.
I think the country that is going to win will be biggest exporter of clean water in about two decades. Meanwhile China makes more solar panels than anyone in the world yet has the most filthy air.
Re: U.S. is now the world’s biggest oil and gas producer
#10Great. So now the US'll just run out relatively sooner than they would have done compared with those guys. WTG short-term thinking with finite resources. Humans are idiots.
WTG short-term thinking with finite resources. Humans are idiots.
Shale and gas is added to the thinking probably, enviro issues and all. Finite but it lasts 100+ years...