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Author	Topic: Ready for the US energy boom?	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,063 Points:1,696,960 Joined:Jan 2007	Message Posted: Nov 24, 2012 7:16:10 AM Ignore brbaritone Report Abuse Five years ago, I never imagined I'd type these words: By 2017, the United States will overtake Saudi Arabia as the world's largest oil producer. In addition, according to the International Energy Agency, by 2015, the United States will overtake Russia to become the world's largest producer of natural gas. The United States is now the fastest-growing oil and natural gas producer in the world. During the past five years, according to Citigroup, the United States has added 2.59 million barrels a day to total production. You'd think there's an investable angle there somewhere. I can think of four: Visit MSN Money for full article

brbaritone

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Virginia

Posts:2,063
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Message Posted: Nov 24, 2012 7:16:10 AM

Ignore brbaritone Report Abuse

Five years ago, I never imagined I'd type these words: By 2017, the United States will overtake Saudi Arabia as the world's largest oil producer.

In addition, according to the International Energy Agency, by 2015, the United States will overtake Russia to become the world's largest producer of natural gas.

The United States is now the fastest-growing oil and natural gas producer in the world. During the past five years, according to Citigroup, the United States has added 2.59 million barrels a day to total production.

You'd think there's an investable angle there somewhere.

I can think of four:
Visit MSN Money for full article

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remay Champion Author Houston Posts:6,963 Points:2,116,640 Joined:May 2006	Message Posted: Nov 26, 2012 6:11:39 AM Ignore remay Report Abuse I STILL won't type those words. I just don't see the US SUSTAINING the output...
NedW Champion Author Indianapolis Posts:5,614 Points:1,142,245 Joined:Mar 2008	Message Posted: Nov 26, 2012 2:20:32 AM Ignore NedW Report Abuse I'm not holding my breath waiting for money to stop going to the middle east.
johton Champion Author Seattle Posts:1,210 Points:311,190 Joined:Jun 2012	Message Posted: Nov 25, 2012 11:51:54 AM Ignore johton Report Abuse I think it's already happening in North Dakota.
ClarkSC Champion Author South Carolina Posts:3,078 Points:1,011,405 Joined:May 2010	Message Posted: Nov 25, 2012 8:50:54 AM Ignore ClarkSC Report Abuse What boom?
Nancy&Len Champion Author Cleveland Posts:2,048 Points:1,944,840 Joined:Sep 2004	Message Posted: Nov 25, 2012 7:30:26 AM Ignore Nancy&Len Report Abuse We will have to wait and see.
CivicMA Champion Author Boston Posts:1,892 Points:535,095 Joined:Jun 2011	Message Posted: Nov 25, 2012 1:21:19 AM Ignore CivicMA Report Abuse Yes, but we'll export it and sell more expensive energy to US Citizens!
LostInNY Champion Author New York Posts:1,716 Points:647,070 Joined:Apr 2011	Message Posted: Nov 25, 2012 12:20:49 AM Ignore LostInNY Report Abuse no win for us any way....so who cares...
bston Champion Author Oklahoma City Posts:1,815 Points:641,300 Joined:Mar 2011	Message Posted: Nov 24, 2012 11:15:39 PM Ignore bston Report Abuse Yeah, but who will own our country by then?
TripleHs Champion Author Austin Posts:3,355 Points:916,590 Joined:Oct 2009	Message Posted: Nov 24, 2012 10:36:40 PM Ignore TripleHs Report Abuse wait to see
esq262 Champion Author Asheville Posts:2,897 Points:647,515 Joined:Jul 2011	Message Posted: Nov 24, 2012 10:22:37 PM Ignore esq262 Report Abuse Be waiting.
Wanda127 Champion Author Florida Posts:2,494 Points:914,030 Joined:May 2010	Message Posted: Nov 24, 2012 7:07:44 PM Ignore Wanda127 Report Abuse Thanks for all the info orphancarguyPE.
orphancarguyPE Champion Author PEI Posts:3,843 Points:734,015 Joined:Jan 2011	Message Posted: Nov 24, 2012 6:54:51 PM Ignore orphancarguyPE Report Abuse Peak oil is still here. Although the US will be rising, almost everywhere else in the world is falling, some by a bit, some by a lot. Even with the US increase, overall worldwide production is forecast to remain flat (which proves that somewhere else, its falling) It is a much a factor of Saudi Arabian production slowly falling as it is of US production rising. Not long ago, '11 maybe even 12 MMbd' were optimistically presaged in a couple of years for Saudi Arabia-- but the reality might be more in line with the 9.5 MMbd now being mentioned. If you read this article carefully, even though overall production might go up, its more of a 'three steps forward, two back' situation, because much less expensive old conventional oil from Texas, California and other places is declining almost as quickly as new more expensive fracked oil is rising. This just means that the averaged overall COST of oil is going to rise. Its a simple economic principal re: marginal cost of replacement supplies. Look it up. So, the US domestic oil price advantage is just going to slowly disappear. As the price rises, the 'boom' will tend to be self-limiting as the cost of energy will no longer be 'cheap' or 'cheap enough' for really big growth. As well, even with the increase, the US is going to be NOWHERE NEAR even covering its own demand. Forecasts of 10-11+ Million barrels a day (MMbd) by 2017? Well, too bad, because current demand in the US is 18.8 MMbd so there will still be a large shortfall with imports needed. This side of the most amazing switcheroo in the next 5 years, demand is unlikely to fall, or fall by much from current levels. So, just becoming #1 or #2 in oil or gas, or 'percentages in increase' means absolutely nothing at all, unless you place it in the proper context of total production and total demand. [Edited by: orphancarguyPE at 11/24/2012 6:56:39 PM EST]
YaBassa Champion Author Michigan Posts:2,425 Points:516,125 Joined:Nov 2011	Message Posted: Nov 24, 2012 5:37:41 PM Ignore YaBassa Report Abuse Pump prices will not go down, but Big Oil's profits will soar.
bwatchingu Champion Author Arkansas Posts:1,740 Points:600,645 Joined:Jan 2009	Message Posted: Nov 24, 2012 2:28:39 PM Ignore bwatchingu Report Abuse watching
sciotosix Champion Author Dayton Posts:2,744 Points:665,150 Joined:Apr 2011	Message Posted: Nov 24, 2012 2:07:16 PM Ignore sciotosix Report Abuse As long as we keep it here.
sdslim Champion Author Florida Posts:1,889 Points:1,710,050 Joined:Feb 2007	Message Posted: Nov 24, 2012 2:06:09 PM Ignore sdslim Report Abuse That is if fracking doesn't come to an end.
FluffyDogAttack Champion Author Riverside Posts:1,081 Points:96,650 Joined:Oct 2012	Message Posted: Nov 24, 2012 1:53:23 PM Ignore FluffyDogAttack Report Abuse Geez, and I've been waiting for the world to run out of oil since the 70's. Now what am I going to freak-out about?
ss70 Champion Author Detroit Posts:9,653 Points:1,869,125 Joined:Sep 2005	Message Posted: Nov 24, 2012 1:35:39 PM Ignore ss70 Report Abuse where are the peak oil people .. thanks to last administration we are paying so high prices even today
mitt4prez Champion Author Tacoma Posts:1,742 Points:1,245,225 Joined:Nov 2007	Message Posted: Nov 24, 2012 12:21:33 PM Ignore mitt4prez Report Abuse Five years ago, all the howling was of PEAK OIL, and everything was doomed unless we surrendered all freedom to being GREEN.
barber7796 Veteran Author Oklahoma Posts:426 Points:276,210 Joined:May 2012	Message Posted: Nov 24, 2012 11:42:51 AM Ignore barber7796 Report Abuse I am sure that POTUS will receive the blame for this as it seems like everything else is blamed on him. Over 50% of voters elected him so I guess it makes him MY PRESIDENT also
humblepie Champion Author Toledo Posts:34,191 Points:2,371,370 Joined:Mar 2006	Message Posted: Nov 24, 2012 11:41:10 AM Ignore humblepie Report Abuse i wouldnt bet on it
tnfran Champion Author Arizona Posts:4,378 Points:842,190 Joined:Dec 2010	Message Posted: Nov 24, 2012 11:39:19 AM Ignore tnfran Report Abuse Good .
Pramodsharma Champion Author Richmond Posts:1,974 Points:386,640 Joined:Feb 2012	Message Posted: Nov 24, 2012 11:19:07 AM Ignore Pramodsharma Report Abuse We are ready, consumption gradient is low and production is high. Developing economies need the gas and oil , we are setting up our shops.
bruin19MD Champion Author Maryland Posts:1,064 Points:164,450 Joined:Feb 2011	Message Posted: Nov 24, 2012 11:02:16 AM Ignore bruin19MD Report Abuse Great article, thanks for posting.
DanMtz Champion Author Oakland Posts:3,350 Points:1,242,350 Joined:Oct 2009	Message Posted: Nov 24, 2012 10:50:51 AM Ignore DanMtz Report Abuse Great, the economy needs help.
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Nov 24, 2012 10:45:34 AM Ignore VomVom Report Abuse At least the US will reduce import from OPEC.
gbs1 Champion Author Minnesota Posts:1,996 Points:741,625 Joined:Mar 2011	Message Posted: Nov 24, 2012 10:44:21 AM Ignore gbs1 Report Abuse We are seeing some incredible things happening that no one could have predicted five years ago.
200porter Champion Author Toronto Posts:2,060 Points:541,160 Joined:Sep 2011	Message Posted: Nov 24, 2012 10:42:03 AM Ignore 200porter Report Abuse Good but it needs to be reflected to the consumer by lowering prices at the pumps.
REBELFAN39 Veteran Author Jackson Posts:354 Points:447,955 Joined:Nov 2011	Message Posted: Nov 24, 2012 10:07:47 AM Ignore REBELFAN39 Report Abuse Doubt we''ll see it at the pump!
kyjlh Champion Author Kentucky Posts:1,617 Points:651,660 Joined:Feb 2005	Message Posted: Nov 24, 2012 9:46:01 AM Ignore kyjlh Report Abuse Obama will take all the credit, even thou it came from land
merlinCO Champion Author Colorado Posts:1,635 Points:340,420 Joined:Mar 2012	Message Posted: Nov 24, 2012 9:37:57 AM Ignore merlinCO Report Abuse When will the US become a member of OPEC?
OTISFL Champion Author Pensacola Posts:4,605 Points:864,840 Joined:Apr 2009	Message Posted: Nov 24, 2012 9:06:14 AM Ignore OTISFL Report Abuse I've been waiting and have a feeling I'll wait a whole lot longer for this to materialize.
Buckeyee Champion Author Maine Posts:4,602 Points:898,780 Joined:May 2010	Message Posted: Nov 24, 2012 8:38:26 AM Ignore Buckeyee Report Abuse So glad Obama did so much to bring all the new oil and natural gas, & all the thousands of jobs too. If you don't believe me, just ask him !!
Radar1992 Champion Author Florida Posts:1,320 Points:309,190 Joined:Dec 2011	Message Posted: Nov 24, 2012 8:30:44 AM Ignore Radar1992 Report Abuse Bring it!!!! Let the money flow to us!
Straitliner Champion Author Illinois Posts:1,492 Points:237,300 Joined:Sep 2012	Message Posted: Nov 24, 2012 8:20:01 AM Ignore Straitliner Report Abuse I doubt it will reflect at the pump, if it does it wont be the way we want it.
Evilmaddog Champion Author British Columbia Posts:3,317 Points:956,575 Joined:Aug 2010	Message Posted: Nov 24, 2012 8:18:01 AM Ignore Evilmaddog Report Abuse they'll just export more
playtimeCLE Champion Author Cleveland Posts:8,555 Points:1,543,400 Joined:Nov 2008	Message Posted: Nov 24, 2012 8:14:38 AM Ignore playtimeCLE Report Abuse Maybe this can help with jobs & start to repair the economy.
Ticobird Champion Author Huntsville Posts:3,226 Points:1,115,040 Joined:Oct 2009	Message Posted: Nov 24, 2012 8:10:18 AM Ignore Ticobird Report Abuse While I don't do investment trading I do like reading MSN's Jim Jubak financial articles. He has a great way of explaining the possible ways to financially play various currently changing technological developments and he even explains when and how he made mistakes which is something I rarely read with investment advisers. [Edited by: Ticobird at 11/24/2012 8:12:27 AM EST]
Rockyguitar Champion Author Tampa Posts:2,557 Points:1,201,595 Joined:Sep 2008	Message Posted: Nov 24, 2012 8:07:51 AM Ignore Rockyguitar Report Abuse I'll believes it when I sees it!
gs7101 Champion Author San Antonio Posts:5,518 Points:387,695 Joined:Jun 2009	Message Posted: Nov 24, 2012 8:05:59 AM Ignore gs7101 Report Abuse Bring it!
dandvicb Champion Author Bridgeport Posts:1,227 Points:1,075,980 Joined:Jul 2004	Message Posted: Nov 24, 2012 8:03:01 AM Ignore dandvicb Report Abuse LOL.... just wait for the speculators!!!
1970vette Veteran Author Nevada Posts:408 Points:309,560 Joined:Mar 2012	Message Posted: Nov 24, 2012 8:00:50 AM Ignore 1970vette Report Abuse hopefully the price at the pump will reflect that
pscamp Champion Author Ottawa Posts:3,277 Points:474,385 Joined:May 2011	Message Posted: Nov 24, 2012 7:58:59 AM Ignore pscamp Report Abuse Really??
FPLREP Champion Author Virginia Posts:8,256 Points:2,447,275 Joined:Oct 2005	Message Posted: Nov 24, 2012 7:56:24 AM Ignore FPLREP Report Abuse That is assuming Obama makes no negative changes to regulations. I woudn't bet my money on it. He has already closed off thousands of acres that had been approved for drilling.
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Nov 24, 2012 7:52:58 AM Ignore sabre75 Report Abuse Good news. but will it bring our gas prices down?
oilfreak All-Star Author Houston Posts:687 Points:36,885 Joined:Oct 2012	Message Posted: Nov 24, 2012 7:39:25 AM Ignore oilfreak Report Abuse Great
hotwire43 Sophomore Author Indiana Posts:185 Points:534,750 Joined:Mar 2011	Message Posted: Nov 24, 2012 7:31:00 AM Ignore hotwire43 Report Abuse This is great news.
grandpadon28110 Champion Author Charlotte Posts:4,711 Points:1,141,335 Joined:Sep 2008	Message Posted: Nov 24, 2012 7:30:10 AM Ignore grandpadon28110 Report Abuse Go.
SSwathwood All-Star Author Denver Posts:549 Points:776,745 Joined:Nov 2009	Message Posted: Nov 24, 2012 7:27:36 AM Ignore SSwathwood Report Abuse Interesting.
jrs4125 Champion Author Indiana Posts:2,753 Points:590,770 Joined:Sep 2011	Message Posted: Nov 24, 2012 7:20:53 AM Ignore jrs4125 Report Abuse This too shall pass.