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Author	Topic: Fracking Seen Robbing OPEC of Gasoline Pricing Powe	Post a Reply Back to Topics

skb69sa Champion Author San Antonio Posts:3,623 Points:738,850 Joined:Mar 2011	Message Posted: Dec 10, 2012 2:38:02 PM Ignore skb69sa Report Abuse The success of American drillers in coaxing fossil fuels from shale rock has the potential to boost production so much that it may deny OPEC the power to set global oil and gasoline prices, an intelligence advisory panel concluded. Rising domestic production from hydraulic fracturing is expanding U.S. supplies, which would shift the balance of power in global energy markets, according to the report by the National Intelligence Council released today. The council, an adviser to the director of national intelligence, publishes a report every four years to aid policymakers’ long-term planning. As the U.S. adds supply, the Organization of Petroleum Exporting Countries’ influence over prices would wane, according to the report that echoes previous studies that project benefits from a drill pr Visit Bloomberg for full article

skb69sa

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Message Posted: Dec 10, 2012 2:38:02 PM

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The success of American drillers in coaxing fossil fuels from shale rock has the potential to boost production so much that it may deny OPEC the power to set global oil and gasoline prices, an intelligence advisory panel concluded.

Rising domestic production from hydraulic fracturing is expanding U.S. supplies, which would shift the balance of power in global energy markets, according to the report by the National Intelligence Council released today. The council, an adviser to the director of national intelligence, publishes a report every four years to aid policymakers’ long-term planning.

As the U.S. adds supply, the Organization of Petroleum Exporting Countries’ influence over prices would wane, according to the report that echoes previous studies that project benefits from a drill pr
Visit Bloomberg for full article

REPLIES (newest first)Ignore Short Messages

DanMtz Champion Author Oakland Posts:3,496 Points:1,271,125 Joined:Oct 2009	Message Posted: Dec 11, 2012 10:51:50 PM Ignore DanMtz Report Abuse Oh well.
WalkingWV Champion Author West Virginia Posts:3,754 Points:788,060 Joined:May 2008	Message Posted: Dec 11, 2012 10:45:06 AM Ignore WalkingWV Report Abuse Yay, to robbing OPEC!
danny999 Champion Author Florida Posts:8,863 Points:1,666,760 Joined:Oct 2008	Message Posted: Dec 11, 2012 6:31:04 AM Ignore danny999 Report Abuse Anything that takes sales from OPEC is a good thing.
tankumo Veteran Author Vancouver Posts:423 Points:78,280 Joined:Dec 2012	Message Posted: Dec 11, 2012 1:24:08 AM Ignore tankumo Report Abuse Fact is, the Saudis will have less to export, their booming population needs more oil than ever before.
iFueler Champion Author Durham Posts:65,033 Points:206,000 Joined:Nov 2012	Message Posted: Dec 11, 2012 12:50:22 AM Ignore iFueler Report Abuse as oil source percentages shift, so will market makers (pricing) shift [Edited by: iFueler at 12/11/2012 12:51:53 AM EST]
andy1024 Champion Author Allentown Posts:1,844 Points:475,950 Joined:Dec 2011	Message Posted: Dec 10, 2012 11:22:55 PM Ignore andy1024 Report Abuse Bad for OPEC but good for US.
doghaulr Rookie Author Denver Posts:62 Points:17,605 Joined:Aug 2005	Message Posted: Dec 10, 2012 9:13:37 PM Ignore doghaulr Report Abuse And what is the problem? Down w/ OPEC!!
jjjleblanc Champion Author Rochester Posts:6,000 Points:1,545,570 Joined:Jun 2008	Message Posted: Dec 10, 2012 8:46:04 PM Ignore jjjleblanc Report Abuse Looking forward to robbing all power from OPEC.
bwatchingu Champion Author Arkansas Posts:1,859 Points:627,925 Joined:Jan 2009	Message Posted: Dec 10, 2012 7:15:41 PM Ignore bwatchingu Report Abuse good
turboz2012 All-Star Author Charleston Posts:749 Points:399,285 Joined:Feb 2012	Message Posted: Dec 10, 2012 6:57:05 PM Ignore turboz2012 Report Abuse this is good news
playtimeCLE Champion Author Cleveland Posts:8,699 Points:1,571,100 Joined:Nov 2008	Message Posted: Dec 10, 2012 6:26:43 PM Ignore playtimeCLE Report Abuse the best thing that could come from this would be to break up OPEC. I know, I'm dreaming, right?
kag2010 Champion Author Winnipeg Posts:5,399 Points:1,048,435 Joined:Apr 2010	Message Posted: Dec 10, 2012 5:47:14 PM Ignore kag2010 Report Abuse Speculators is all..
ScottTee Champion Author Detroit Posts:4,527 Points:1,090,320 Joined:Mar 2010	Message Posted: Dec 10, 2012 5:44:26 PM Ignore ScottTee Report Abuse interesting, hope it really turns out to be true.
mike56MI Champion Author Michigan Posts:1,356 Points:335,065 Joined:Aug 2011	Message Posted: Dec 10, 2012 5:21:28 PM Ignore mike56MI Report Abuse Great.
MrLefty0706 Champion Author Chicago Posts:1,580 Points:378,560 Joined:Apr 2012	Message Posted: Dec 10, 2012 4:29:25 PM Ignore MrLefty0706 Report Abuse Good news! Now take the speculators out of the process!
jimgraham Champion Author Akron Posts:10,510 Points:2,007,450 Joined:Oct 2007	Message Posted: Dec 10, 2012 4:09:11 PM Ignore jimgraham Report Abuse It would be nice to see a oversupply of oil killing off the speculators!
nerde Champion Author Florida Posts:6,551 Points:1,340,445 Joined:Jul 2009	Message Posted: Dec 10, 2012 4:00:42 PM Ignore nerde Report Abuse What a bullsht article. As if OPEC set's prices. Are we in the 1970s? Unregulated hedge funds set oil prices not OPEC. This article is simply more corporate pro-fracking propaganda using fracking as the good-guy nemesis to the villian OPEC
Rappcommuter All-Star Author Virginia Posts:521 Points:575,785 Joined:Apr 2011	Message Posted: Dec 10, 2012 3:13:15 PM Ignore Rappcommuter Report Abuse I think the ever increasing demand for oil, especially in China and India, will keep them as vital players in the oil market.
md11capt Champion Author Denver Posts:3,558 Points:729,180 Joined:Mar 2011	Message Posted: Dec 10, 2012 3:06:55 PM Ignore md11capt Report Abuse Wow! Maybe fracking is good for something after all.
uglytom Champion Author Florida Posts:7,464 Points:1,542,015 Joined:Jul 2007	Message Posted: Dec 10, 2012 3:03:38 PM Ignore uglytom Report Abuse Another panel prediction!!
JamesCalvin Champion Author Lancaster Posts:3,344 Points:547,255 Joined:Nov 2011	Message Posted: Dec 10, 2012 3:03:08 PM Ignore JamesCalvin Report Abuse OOOPS!Careful now! We don't want this to get out of hand! [Edited by: JamesCalvin at 12/10/2012 3:04:09 PM EST]
humblepie Champion Author Toledo Posts:35,329 Points:2,399,070 Joined:Mar 2006	Message Posted: Dec 10, 2012 2:52:57 PM Ignore humblepie Report Abuse obama wont like that
gizbo123 Champion Author Los Angeles Posts:1,596 Points:1,777,650 Joined:Dec 2005	Message Posted: Dec 10, 2012 2:40:13 PM Ignore gizbo123 Report Abuse Frack the Opecers like we said in the 70's. We shouldn't be importing anyway.