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Author Topic: Exxon: US energy revival has staying power Back to Topics
Nitewolf

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Anchorage

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

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.
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LetemEatCake
Champion Author Oklahoma City

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Message Posted: Dec 12, 2012 11:23:52 PM


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?
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drobbbb
Champion Author Maryland

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Message Posted: Dec 11, 2012 10:48:17 PM

that should help our trade balance with China
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jjjleblanc
Champion Author Rochester

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Message Posted: Dec 11, 2012 8:31:08 PM

Sounds good.
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xgojim
Champion Author Michigan

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Message Posted: Dec 11, 2012 5:30:32 PM

Hallelujah! Exxon Mobil probably has at least a small stake in this outcome, do you think?
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auburnpeanut
Rookie Author Charlotte

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Message Posted: Dec 11, 2012 3:18:37 PM

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.
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Discovery02
Champion Author Colorado Springs

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Message Posted: Dec 11, 2012 1:48:43 PM

I really doubt the energy revival will result in lower prices at the pumps for consumers.
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slowpoke
Veteran Author Virginia

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Message Posted: Dec 11, 2012 12:50:39 PM

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.
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Zuegma
Champion Author Nova Scotia

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Message Posted: Dec 11, 2012 12:18:34 PM

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.
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YaBassa
Champion Author Michigan

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Message Posted: Dec 11, 2012 12:12:06 PM

Just more profit for Big Oil...the domestic consumer will not get a price break.
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md11capt
Champion Author Denver

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Message Posted: Dec 11, 2012 11:40:52 AM

The Corporate States of America rule.
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tazintally
Champion Author Tallahassee

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Message Posted: Dec 11, 2012 11:35:05 AM

As long as the consumers in the USA get lower prices they can export all the want.
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peakkeller
Champion Author Colorado Springs

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Message Posted: Dec 11, 2012 11:14:12 AM

Lots of experts are saying this now, not just Exxon.
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lesabreAZ
Champion Author Phoenix

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Message Posted: Dec 11, 2012 11:00:44 AM

Pass the Fracking Gas
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humblepie
Champion Author Toledo

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Message Posted: Dec 11, 2012 10:56:40 AM

i like to read stories like this
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VomVom
Champion Author Calgary

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Message Posted: Dec 11, 2012 10:46:41 AM

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!
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mitt4prez
Champion Author Tacoma

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Message Posted: Dec 11, 2012 10:46:06 AM

Not if The Won has anything to say about it.
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TripleHs
Champion Author Austin

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Message Posted: Dec 11, 2012 10:43:46 AM

why not? The US is such a big country with plentiful resources
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MrDeath666
Champion Author Houston

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Message Posted: Dec 11, 2012 10:38:23 AM

I hope they are right.
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SUV2009
Champion Author Orlando

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Message Posted: Dec 11, 2012 10:33:58 AM

So we all just have to wait and hope that this will help our gas prices correct?
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