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(Telegram)   U.S. will regain position as world's top oil producer. This is a big fracking deal   ( divider line
    More: Interesting, oil producers, United States, Royal Dutch Shell plc, Water pumping, IHS  
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10158 clicks; posted to Main » on 24 Oct 2012 at 11:28 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2012-10-24 12:08:23 PM  
2 votes:

evoke: I am amazed by all these "positive" news articles and studies that seem to come out just before the election. It's like someone is intentionally releasing biased studies at a specific time to trick the American people in believing that a certain president's record is better than what it really is.

Reality has a liberal bias.

growlersoftware.comView Full Size
2012-10-24 11:53:52 AM  
2 votes:
I am not inherently against fracking, but I recognize that this is a practice that conveys certain risks. There are documented cases of natural gas seepage into drinking water. There are a lot of open questions about disposing of used fracking fluids, etc.

The result is that I'm in a position where I say this: "Fracking is interesting and potentially useful, but what steps can we take to mitigate the negative externalities?" As a society, we have organized and empowered a specific collection of agencies to manage negative externalities (and provide positive ones): governments.

In a loose sense, governments achieve this goal by making rules, be they laws or regulations, and then enforcing those rules in a way that makes compliance preferable to non-compliance.

What I'm trying to say is that we've got a decent case to raise some concerns and demand tight regulation of fracking companies.
2012-10-24 11:37:51 AM  
2 votes:
Prices have to stay high or it won't be economically sensible to harvest shale gas/oil.
2012-10-24 11:30:57 AM  
2 votes:

Aarontology: But I was told that Obama personally shut down the US oil industry with his job killing socialism.

Top men have told me that the way to energy independence is to pipe Canadian oil to Texas to ship to China.

Yes, this is what Republicans actually believe.
2012-10-24 10:09:22 AM  
2 votes:
Is that why MItt Romney said oil production is lower than it was 4 years ago?
2012-10-24 09:51:24 AM  
2 votes:
But I was told that Obama personally shut down the US oil industry with his job killing socialism.
2012-10-24 04:54:46 PM  
1 vote:

hasty ambush: Lunaville: Ideally, it would also be coupled with increased energy standards for most products and all vehicles as well as a hefty additional gasoline tax. I'd like to see proceeds from such a tax invested in mass transit, bike lanes, environmental clean-up, and research into alternative energy

About that alternative energy investment

The complete list bankrupt green-energy companies:[so far] and the amount of tax payer dollars they have recieved to date.

1.Evergreen Solar ($25 million)*
2.SpectraWatt ($500,000)*
3.Solyndra ($535 million)*
4.Beacon Power ($43 million)*
9.EnerDel's subsidiary Ener1 ($118.5 million)*
12.Abound Solar ($400 million)*
13.A123 Systems ($279 million)*
14.Willard and Kelsey Solar Group ($700,981)*
19.Raser Technologies ($33 million)*
20.Energy Conversion Devices ($13.3 million)*
21.Mountain Plaza, Inc. ($2 million)*
22.Olsen's Crop Service and Olsen's Mills Acquisition Company ($10 million)*
23.Range Fuels ($80 million)*
24.Thompson River Power ($6.5 million)*
25.Stirling Energy Systems ($7 million)*
26.Azure Dynamics ($5.4 million)*
30.Nordic Windpower ($16 million)*
32.Satcon ($3 million)*
33.Konarka Technologies Inc. ($20 million)*

There, cut out your 'faltering' companies and only included companies that have gone or are in bankruptcy. According to your numbers, that represents $1.6 billion dollars - which sounds like a mighty sum. But when you look at the total amount earmarked for energy investment in the Obama Stimulus package is $90 billion dollars, $1.6 billion in loss is tiny in comparison. Considering the failure rate represents 1.7% of the public investment in *energy loans,* I'm not all that worried. As long as 90% of the companies repay their loans, with interest, the public is going to make money on the venture, and the USA will be far more competitive in the energy sector.

Considering the Bush meltdown on the banking and investment sector, it makes complete sense to open up public capital for loans. 

/math is hard for Republicans
2012-10-24 01:23:35 PM  
1 vote:

evoke: This is happening in spite of Obama.

I am amazed by all these "positive" news articles and studies that seem to come out just before the election. It's like someone is intentionally releasing biased studies at a specific time to trick the American people in believing that a certain president's record is better than what it really is.

America has increased it's oil production every year for the last five years. This isn't new, and it was publicly available data to anyone actually interested in facts, rather than trying to make the fairy tale in their head reality.

Here is another fact. American demand for oil has dropped every year the last four. Given that supply is way up and demand is way down, we should be paying much lower prices for fuel now, right? That invisible hand of the free market and all dictates it. Right? RIGHT?
2012-10-24 01:05:01 PM  
1 vote:
Oil company breaking all previous profits and sales and you think prices are going down.
commondreams.orgView Full Size

You have to treat the oil company like a pinata. Now does a pinata just give you the candy? No you have to beat it with a stick.
chairandtablerentals.comView Full Size
2012-10-24 12:18:47 PM  
1 vote:

oldernell: What are they going to name the lake when the bedrock is so fractured in Ohio and Pa. that the region becomes a giant sinkhole? If the footings to your house were broken like that it would be condemned.

The Great Lake. You know, that one where the five used to be.
2012-10-24 12:17:40 PM  
1 vote:
Not trolling - enjoy your groundwater while you can. It's the next commodity.
2012-10-24 12:17:35 PM  
1 vote:
FTA: The increase in production hasn't translated to cheaper gasoline at the pump, and prices are expected to stay relatively high for the next few years because of growing demand for oil in developing nations and political instability in the Middle East and North Africa.

The elimination of shipping costs alone, on that additional 9%, should result in a decrease in the price at the pump, even if world demand remains relatively high.

Yet, prices are expected to remain relatively high!

Does anyone else have a problem with this?
2012-10-24 11:56:02 AM  
1 vote:
blah blah blah Obama
blah blah blah Romney

Fark threads are looking pretty much the same regardless of topic these days.
2012-10-24 11:52:16 AM  
1 vote:
Yay! Let's use up all of our domestic oil resources quicker!
2012-10-24 11:51:03 AM  
1 vote:

Ashrams: And yet somehow I bet they will produce a lot of oil and refine it then ship it to China were they can use it to make products to coat with lead and use said oil again to ship it back to the US.

Then we have gone full circle and not gained a thing.

In a few years this will be our new flag.
[ image 453x304]

You mean Alberta's new flag. Our prime minister is set to sell one of our largest oil fields to China for $15B CDN. He's an idiot.
2012-10-24 11:49:14 AM  
1 vote:

Joe Blowme: "most of these rigs are on private property. They are drilling into places like the Bakken formation, which lies under parts of North Dakota and Montana.

"Had this been government land, we would likely still be awaiting drilling permits or fighting lawsuits from NGOs or outright drilling bans enacted from Congress," Mulva says.

HAHAHAH but Obama is the reason right? ALL HAIL KING OBAMA!!

Pardon me if I don't think we should throw up drilling rigs all over public lands set aside specifically for the purpose of protection and the enjoyment of future generations all so we can pad the pockets of oil execs while gas prices still head up.

And the feds STILL regulate those drilling sites.
2012-10-24 11:48:05 AM  
1 vote:
2012-10-24 11:32:51 AM  
1 vote:
to an average of 10.9 million barrels per day

Damn, that is quite a bit of oil, along with the arab spring this makes the Iraq war even more pointless.
2012-10-24 09:35:10 AM  
1 vote:
Didn't read the article. I guess this is good and bad. Slack regulations on things like Hydraulic Fracturing is bad. But it could create jobs, so that's good. But I doubt it'll lower energy prices, since there's no guarantee that a significant amount of this oil will be sold to the U.S., unless there's some regulation I'm missing.
vpb [TotalFark]
2012-10-24 09:33:24 AM  
1 vote:
So that's how Obama made gas so expensive!
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