Hmm, I thought US fossil fuel problems were solved

[mooncliff]

So, US domestic oil production was going to go up and up, which of course it might, but I have seen this before when people are looking for investors.

http://www.theoildrum.com/files/1.%2...on%20Sep12.png

The more oil you say you have, the more money banks etc will lend and the lower the rates. Because it is rational allocation of capital, don't ya know.

http://www.theoildrum.com/node/9502

I'll believe we can be energy independent again when I see it. Or natural gas will save us! Or something...

[touchring]

Re: Hmm, I thought US fossil fuel problems were solved

So, US domestic oil production was going to go up and up, which of course it might, but I have seen this before when people are looking for investors.

http://www.theoildrum.com/files/1. US Crude production Sep12.png

The more oil you say you have, the more money banks etc will lend and the lower the rates. Because it is rational allocation of capital, don't ya know.

http://www.theoildrum.com/node/9502

I'll believe we can be energy independent again when I see it. Or natural gas will save us! Or something...

Shale oil production falling off?

[c1ue]

Re: Hmm, I thought US fossil fuel problems were solved

So, US domestic oil production was going to go up and up, which of course it might, but I have seen this before when people are looking for investors.

http://www.theoildrum.com/files/1.%2...on%20Sep12.png

The more oil you say you have, the more money banks etc will lend and the lower the rates. Because it is rational allocation of capital, don't ya know.

http://www.theoildrum.com/node/9502

I'll believe we can be energy independent again when I see it. Or natural gas will save us! Or something...

The only people who say the US can be energy independent with oil are those lobbying for drill everywhere.

And even if that were true, it would not happen for at least a decade as the infrastructure, exploration, and accompanying other development ramps up.

For natural gas, I'd think a similar time frame would be necessary to ramp up the storage and distribution infrastructure for LNG/CNG as well.

And since neither effort has kicked off yet...

[Ghent12]

Re: Hmm, I thought US fossil fuel problems were solved

As if energy independence is even important. Why pay more to drill domestically when you can pay less to import from Dirtistan?

[unlucky]

Re: Hmm, I thought US fossil fuel problems were solved

As if energy independence is even important. Why pay more to drill domestically when you can pay less to import from Dirtistan?

Don't forget to include the cost of all the bombing that's needed to get oil from Dirtistan.

[peakishmael]

Re: Hmm, I thought US fossil fuel problems were solved

As if energy independence is even important. Why pay more to drill domestically when you can pay less to import from Dirtistan?

Don't forget to include the cost of all the bombing that's needed to get oil from Dirtistan.

+1. Also, you pay more to drill domestically because production from Dirtistan will decline, while Dirtistanians continue to use more of that declining production internally, as if it belonged to them or something. So, you get a little desperate.

[dcarrigg]

Re: Hmm, I thought US fossil fuel problems were solved

Don't forget to include the cost of all the bombing that's needed to get oil from Dirtistan.

If:

Bombs + Dirtistan labor < American labor

Then:

Dirtistan it is.

This is particularly true when Uncle Sam picks up the cost of bombs.

But there is something to energy security within borders - particularly when you're not sure how much power you can project. But hell, we could turn coal into oil if we needed too...but we don't. It's the end of history. Has been for a decade. Whatever's cheapest wins. The American worker loses.

Who cares?

Certainly nobody in power...

Don't worry though. The "information economy" will save us. Everyone will get PhDs in quantum computing and we'll transcend corporeal existence or something. Poor and uneducated folk will be fine. Or decide that they deserve what they get anyways.

Either way, decent jobs for people willing to work, but without a top 10% intelligence, are out.

Sorry, suckers.

[touchring]

Re: Hmm, I thought US fossil fuel problems were solved

Don't forget to include the cost of all the bombing that's needed to get oil from Dirtistan.

Isn't that also covered by the free money from Bernanke?

[GRG55]

Re: Hmm, I thought US fossil fuel problems were solved

...Don't worry though. The "information economy" will save us. Everyone will get PhDs in quantum computing...

Quantum computing??

And all this time I thought we were heading for the "Gaming on a Smart Phone" economy...