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Author	Topic: Exxon: US energy revival has staying power	Post a Reply Back to Topics

Nitewolf Champion Author Anchorage Posts:16,537 Points:2,104,670 Joined:Jun 2004	Message Posted: Dec 11, 2012 10:29:57 AM Ignore Nitewolf Report Abuse The Associated Press Exxon says the energy renaissance in the U.S. has staying power and predicts that North America will become a net exporter of oil and gas by the middle of the next decade. The oil and gas giant's latest long-term energy outlook says the rapid growth of production in the U.S. and Canada will lead to more oil and gas being sent overseas. Exxon Mobil Corp. also predicts that natural gas use will keep increasing, at the expense of coal. By 2040, natural gas will account for 30 percent of global electricity generation, compared with less than 25 percent today, Exxon says. Oil and gas production in the U.S. has surged thanks to technologies like hydraulic fracturing, or fracking. That's helped decrease the nation's dependence on energy imports. Visit Anchorage Daily News for full article

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Message Posted: Dec 11, 2012 10:29:57 AM

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The Associated Press

Exxon says the energy renaissance in the U.S. has staying power and predicts that North America will become a net exporter of oil and gas by the middle of the next decade.

The oil and gas giant's latest long-term energy outlook says the rapid growth of production in the U.S. and Canada will lead to more oil and gas being sent overseas.

Exxon Mobil Corp. also predicts that natural gas use will keep increasing, at the expense of coal. By 2040, natural gas will account for 30 percent of global electricity generation, compared with less than 25 percent today, Exxon says.

Oil and gas production in the U.S. has surged thanks to technologies like hydraulic fracturing, or fracking. That's helped decrease the nation's dependence on energy imports.
Visit Anchorage Daily News for full article

REPLIES (newest first)Ignore Short Messages

LetemEatCake Champion Author Oklahoma City Posts:5,596 Points:1,204,605 Joined:Mar 2008	Message Posted: Dec 12, 2012 11:23:52 PM Ignore LetemEatCake Report Abuse Harping on the price of gas is naive. $3.00/gal. is not going to kill any of us. Fogetaboutit...this is not your father's Oldsmobile that can be filled up for $5.00! The real issue here is if all of the rest of the world's Oil/Gas stopped flowing, Can the US be self-sufficient without crippling citizens or industry?
drobbbb Champion Author Maryland Posts:3,470 Points:811,260 Joined:Dec 2010	Message Posted: Dec 11, 2012 10:48:17 PM Ignore drobbbb Report Abuse that should help our trade balance with China
jjjleblanc Champion Author Rochester Posts:5,867 Points:1,517,355 Joined:Jun 2008	Message Posted: Dec 11, 2012 8:31:08 PM Ignore jjjleblanc Report Abuse Sounds good.
xgojim All-Star Author Michigan Posts:524 Points:451,020 Joined:Mar 2011	Message Posted: Dec 11, 2012 5:30:32 PM Ignore xgojim Report Abuse Hallelujah! Exxon Mobil probably has at least a small stake in this outcome, do you think?
auburnpeanut Rookie Author Charlotte Posts:8 Points:44,860 Joined:Nov 2012	Message Posted: Dec 11, 2012 3:18:37 PM Ignore auburnpeanut Report Abuse Hopefully this predictions come true, would be nice to keep our money at home instead of sending it to other countries every time we fill up out tank.
Discovery02 Champion Author Colorado Springs Posts:2,540 Points:308,715 Joined:May 2012	Message Posted: Dec 11, 2012 1:48:43 PM Ignore Discovery02 Report Abuse I really doubt the energy revival will result in lower prices at the pumps for consumers.
slowpoke Veteran Author Virginia Posts:277 Points:101,130 Joined:Apr 2012	Message Posted: Dec 11, 2012 12:50:39 PM Ignore slowpoke Report Abuse How much of the "new" domestic production falls under Exxon-Mobil? I was unable to access the entire article without creating another password which I already have in too great abundance.
Zuegma All-Star Author Nova Scotia Posts:983 Points:256,930 Joined:Aug 2012	Message Posted: Dec 11, 2012 12:18:34 PM Ignore Zuegma Report Abuse Some of the authors are confused. Excluding Canada (where its more an oil exchange from one side of the countries to the other side), the US does not export oil to OPEC countries or elsewhere. The US consumes about 18.8 million Bbl/day of which 54% is from its own production. The difference is made up by imports; and, Canada is its biggest sole exporter providing about 2.5 million Bbl/day to the US. Canada consumes about 33% of its production with the bulk of the exports going to the US. Nevertheless, Canada still imports to supply East coast refineries. The US could likely eventually be self sufficient but it can buy it cheaper abroad. Neither the US or Canada has a comprehensive energy strategy and till that happens and is implemented, we'll still be importing by 2050.
YaBassa Champion Author Michigan Posts:2,425 Points:515,375 Joined:Nov 2011	Message Posted: Dec 11, 2012 12:12:06 PM Ignore YaBassa Report Abuse Just more profit for Big Oil...the domestic consumer will not get a price break.
md11capt Champion Author Denver Posts:3,558 Points:709,380 Joined:Mar 2011	Message Posted: Dec 11, 2012 11:40:52 AM Ignore md11capt Report Abuse The Corporate States of America rule.
tazintally Sophomore Author Tallahassee Posts:183 Points:68,815 Joined:Jan 2009	Message Posted: Dec 11, 2012 11:35:05 AM Ignore tazintally Report Abuse As long as the consumers in the USA get lower prices they can export all the want.
peakkeller Champion Author Colorado Springs Posts:1,680 Points:775,400 Joined:Dec 2009	Message Posted: Dec 11, 2012 11:14:12 AM Ignore peakkeller Report Abuse Lots of experts are saying this now, not just Exxon.
lesabreAZ Champion Author Phoenix Posts:1,681 Points:410,505 Joined:Nov 2011	Message Posted: Dec 11, 2012 11:00:44 AM Ignore lesabreAZ Report Abuse Pass the Fracking Gas
humblepie Champion Author Toledo Posts:34,154 Points:2,370,395 Joined:Mar 2006	Message Posted: Dec 11, 2012 10:56:40 AM Ignore humblepie Report Abuse i like to read stories like this
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Dec 11, 2012 10:46:41 AM Ignore VomVom Report Abuse The increase in oil & gas production will provide a guaranteed domestic supply and national security by not sending billions upon billions to OPEC countries including those who are not friendly to America. Gasoline is refined using crude oil as a feedstock. Oil is a world traded commodity. Unless there is sufficient production to offset the increasing demands from China and India, oil price may not drop all that much. Nonetheless, with the money staying state side and paying taxes on the profits, it is a good thing!
mitt4prez Champion Author Tacoma Posts:1,738 Points:1,244,270 Joined:Nov 2007	Message Posted: Dec 11, 2012 10:46:06 AM Ignore mitt4prez Report Abuse Not if The Won has anything to say about it.
TripleHs Champion Author Austin Posts:3,355 Points:915,740 Joined:Oct 2009	Message Posted: Dec 11, 2012 10:43:46 AM Ignore TripleHs Report Abuse why not? The US is such a big country with plentiful resources
MrDeath666 Champion Author Houston Posts:1,611 Points:242,465 Joined:Sep 2012	Message Posted: Dec 11, 2012 10:38:23 AM Ignore MrDeath666 Report Abuse I hope they are right.
SUV2009 Champion Author Orlando Posts:4,408 Points:1,141,365 Joined:Oct 2009	Message Posted: Dec 11, 2012 10:33:58 AM Ignore SUV2009 Report Abuse So we all just have to wait and hope that this will help our gas prices correct?