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Posted: 9/29/2014 9:50:17 PM EST
[Last Edit: 9/29/2014 9:56:12 PM EST by raven]
The USA



The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector.

US production of oil and related liquids such as ethane and propane was neck-and-neck with Saudi Arabia in June and again in August at about 11.5m barrels a day, according to the International Energy Agency, the watchdog backed by rich countries.










Link Posted: 9/29/2014 9:52:04 PM EST




And today I got some new MFing FR pants for when I have to go in the field!!!
Link Posted: 9/29/2014 9:58:13 PM EST
And yet diesel is 3.59 a gallon











































































Link Posted: 9/29/2014 10:01:49 PM EST



Link Posted: 9/29/2014 10:02:20 PM EST
USA USA USA!

Link Posted: 9/29/2014 10:02:56 PM EST
So remind me again why it costs $100 to fill up my truck?
Link Posted: 9/29/2014 10:03:01 PM EST
It'd sold overseas for more?

Not enough refineries?

Guesses
Link Posted: 9/29/2014 10:04:19 PM EST
Too bad that we don't have a decent administration that could maximize this opportunity it's
Link Posted: 9/29/2014 10:06:58 PM EST
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Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote

In my opinion that's more a reflection on the value of a dollar.
Link Posted: 9/29/2014 10:07:40 PM EST
That site wants a subscription to read the article.

I thought the U.S. was the #1 Oil importer, so it would only make sense that U.S. would refine the most petroleum... and then sell the refined to whatever country pays the most.

Is it saying that the U.S. is producing the most oil? That would seem incredible
Link Posted: 9/29/2014 10:07:53 PM EST
Manifest Destiny, we should have Canada's oil. If only the US would have taken it to heart :) We would be kicking the worlds butt in oil production.
Link Posted: 9/29/2014 10:08:35 PM EST
Correct but we could do so much more if the govt would get the hell out of the way. We badly need a cohesive and smart energy policy including nukes and a massive power grid update.
Link Posted: 9/29/2014 10:08:50 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By cavgunner:
It'd sold overseas for more?

Not enough refineries?

Guesses
View Quote


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.

We are still importing shit ton of oil, mostly from South America and Canada.

The bottom line is that if we wanted to lower the price of gas / diesel for Americans, it could easily be accomplished. But that's not going to happen....you know, because of "capitalism".
Link Posted: 9/29/2014 10:09:12 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Nehi:
That site wants a subscription to read the article.

I thought the U.S. was the #1 Oil importer, so it would only make sense that U.S. would refine the most petroleum... and then sell the refined to whatever country pays the most.

Is it saying that the U.S. is producing the most oil? That would seem incredible
View Quote


"The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector.

US production of oil and related liquids such as ethane and propane was neck-and-neck with Saudi Arabia in June and again in August at about 11.5m barrels a day, according to the International Energy Agency, the watchdog backed by rich countries."...[more]





Link Posted: 9/29/2014 10:23:35 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By sanunan:


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.
View Quote View All Quotes
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Originally Posted By sanunan:
Originally Posted By cavgunner:
It'd sold overseas for more?

Not enough refineries?

Guesses


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.
Nope


Read the comments for the LIVs freaking out. These peoples' votes count as much as mine.
Link Posted: 9/29/2014 10:25:01 PM EST
Link Posted: 9/29/2014 10:28:27 PM EST
You're Welcome!!!

Come on Devon.

(Just had a 4.2 earthquake - SHAKE THAT OIL LOOSE!!!)

Link Posted: 9/29/2014 10:29:58 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By RustedAce:
Time to ban fracking.
View Quote

Fracking Colorado style! Nuclear fracking!!!


Link Posted: 9/29/2014 10:35:46 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote


Link Posted: 9/29/2014 10:46:32 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote
because so much of our oil goes to the " oil reserves" and what doesnt is exported since we can buy it cheaper than we can make it.
Link Posted: 9/29/2014 10:49:02 PM EST
I'll take 100mpg anything plz.
Link Posted: 9/29/2014 10:49:24 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By IAMLEGEND:

In my opinion that's more a reflection on the value of a dollar.
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Originally Posted By IAMLEGEND:
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?

In my opinion that's more a reflection on the value of a dollar.


and fracking is lot more expensive than sucking it straight from the ground
not to mention ethanol bullshit and taxes
Link Posted: 9/29/2014 10:55:20 PM EST
[Last Edit: 9/29/2014 10:56:00 PM EST by memphisliving]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote



Link Posted: 9/29/2014 11:10:30 PM EST
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Originally Posted By tcrpe:
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?


http://4.bp.blogspot.com/-hUuZGT1p5EM/TZzrBX0oYYI/AAAAAAAAFzM/B9fdiSQT8-k/s1600/Inept.png



Inept? here's a quote for you.

"Under my plan, energy costs would necessarily skyrocket."

This is exactly what he planned and promised to deliver.
Link Posted: 9/29/2014 11:12:22 PM EST
...and the ME becomes increasingly irrelevant, on this front at least.
Link Posted: 9/29/2014 11:28:15 PM EST
[Last Edit: 9/29/2014 11:31:00 PM EST by misc]
C'mon man! You can produce all you want and all day long but since there haven't been any refineries built in 40 years well then you're still getting "Fucked at the Pump". Oil companies are modeling their business on the DeBeers diamond monopoly right in front of us.
Link Posted: 9/29/2014 11:58:18 PM EST
So now that our production is booming, all we have to do is produce more oil than we consume, and then we have a fundamental interest in destabilizing the middle east and Venezuela, so our net oil profit goes up?
That sounds way more fun than playing World Police for the 8th decade in a row.
Link Posted: 9/30/2014 12:09:34 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote


Because of supply and demand, especially demand, silly.

Link Posted: 10/2/2014 7:08:51 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By misc:
C'mon man! You can produce all you want and all day long but since there haven't been any refineries built in 40 years well then you're still getting "Fucked at the Pump". Oil companies are modeling their business on the DeBeers diamond monopoly right in front of us.
View Quote






Link Posted: 10/2/2014 7:11:10 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By misc:
C'mon man! You can produce all you want and all day long but since there haven't been any refineries built in 40 years well then you're still getting "Fucked at the Pump". Oil companies are modeling their business on the DeBeers diamond monopoly right in front of us.
View Quote



this. and FBHO.

Link Posted: 10/2/2014 7:20:05 PM EST
[Last Edit: 10/2/2014 7:26:28 PM EST by buck19delta]
the gov does NOT WANT CHEAP FUEL FOR US...... they WANT it to be high, to help shove people into small cars, and to push " green" shit, like electric cars, etc.


facts are not whats important... FEELINGS are whats important.. the environment, global warming, climate change, etc, it FEELS wrong to have cheap gas... electric cars FEEL good... no matter there is no way in hell for everyone to even be able to charge the fucking things, even if we had them.

not only that, but its also the clusterfuck the gov does with EVERYTHING .

gov.... gas taxes to fix the roads.... BUT, you should get a car that gets really good gas mileage ! ! ! for the environment !

gov..... hey... cars get better gas mileage... so.... were going to tax your mileage, or have a hybrid tax, because we dont have as much tax money to blow now. but cars with great mileage are what responsible people do........etc, etc.
Link Posted: 10/2/2014 7:23:55 PM EST
The stuff I pull out of the ground in ND is as light as diesel and could damn near be ran through a coffee filter and dumped in a truck's tank.

Posted Via AR15.Com Mobile
Link Posted: 10/2/2014 7:24:53 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By buck19delta:
the gov does NOT WANT CHEAP FUEL FOR US...... they WANT it to be high, to help shove people into small cars, and to push " green" shit, like electric cars, etc.
View Quote


No No, It couldn't have anything to do with QE1, 2, 3, 4. etc.



Devalue the dollar, takes more dollars to buy barrel of oil....

Link Posted: 10/2/2014 7:25:56 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MoparMike:
The stuff I pull out of the ground in ND is as light as diesel and could damn near be ran through a coffee filter and dumped in a truck's tank.

Posted Via AR15.Com Mobile
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What kinda gravity are we talking?

Link Posted: 10/2/2014 7:27:14 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote



Because Saudi oil comes out of the ground for a lot less money than ours does.
Link Posted: 10/2/2014 7:29:06 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Soylent:



Because Saudi oil comes out of the ground for a lot less money than ours does.
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Originally Posted By Soylent:
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?



Because Saudi oil comes out of the ground for a lot less money than ours does.

That's cause they don't have to deal with EPA, PHMSA, OSHA, etc.

Link Posted: 10/2/2014 7:29:32 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?
View Quote

Because we are producing a lot of oil, not refineries.
If your truck could run on crude oil it would be cheap as hell.
Link Posted: 10/2/2014 7:31:24 PM EST
[Last Edit: 10/2/2014 7:32:29 PM EST by Qweevox]


At these price levels we'll find the true cost of fracking.

There isn't a lot of profit producing synthetic oil at these levels. For some fields $90 a barrel of synthetic oil is too cheap to keep up production. Let's not forget "fracking" doesn't produce oil. It produces a substance that can be turned into synthetic oil, but it requires a lot of energy to do it.

There is no such thing as "shale oil". It's a misnomer. If prices drop much more a lot of production will have to come off line.









Link Posted: 10/2/2014 7:31:50 PM EST
All that not withstanding the fact there is no functional gas to liquid plant in the USA, which is to say, that when there is, and we have the ability to export natural gas, we will take that first place seat solidly.

Stimulation of the Tuscaloosa Marine Shale oil/gas formation has just begun with an estimated 9 billion barrels recoverable, combined with the fact that the Cline Shale is still pretty young puts a huge increase in oil production in our immediate future.

The US government recently issued a third permit to export LNG, and there is not yet a functioning gtl plant here.

Look at the 24 month history of stock symbol LNG to see the future of natural gas production in the USA.
Link Posted: 10/2/2014 7:32:57 PM EST
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Originally Posted By Nagewaza624:

That's cause they don't have to deal with EPA, PHMSA, OSHA, etc.




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Originally Posted By Nagewaza624:
Originally Posted By Soylent:
Originally Posted By kcobean:
So remind me again why it costs $100 to fill up my truck?



Because Saudi oil comes out of the ground for a lot less money than ours does.

That's cause they don't have to deal with EPA, PHMSA, OSHA, etc.






But the fact remains.
Link Posted: 10/2/2014 7:33:23 PM EST
Jimmah Carter created the US Dept of Energy to end the USA's dependence upon foreign oil. And what a fine job the DOE has done...
Link Posted: 10/2/2014 7:35:28 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By sanunan:


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.

We are still importing shit ton of oil, mostly from South America and Canada.

The bottom line is that if we wanted to lower the price of gas / diesel for Americans, it could easily be accomplished. But that's not going to happen....you know, because of "capitalism".
View Quote View All Quotes
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Originally Posted By sanunan:
Originally Posted By cavgunner:
It'd sold overseas for more?

Not enough refineries?

Guesses


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.

We are still importing shit ton of oil, mostly from South America and Canada.

The bottom line is that if we wanted to lower the price of gas / diesel for Americans, it could easily be accomplished. But that's not going to happen....you know, because of "capitalism".
No...if we wanted to lower the price of gas / diesel for Americans...we need to build more refining capability and cease the EPA mandated bullshit that increases the price substantially. We could also open up federal lands to drilling.

We're still importing crude basically because of transportation issues (read costs)...like having to ship crude oil to the refineries via rail car...because the government is anal about pipelines.

As crude oil is traded on the world market, it can be cheaper for the refining companies to buy their raw material by the shipload than by the railroad tank-car.

The prices of gasoline and diesel in this country are a direct reflection of governmental meddling in a free market economy....which is the antithesis of "capitalism".




Link Posted: 10/2/2014 7:36:17 PM EST
They are talking about LPG, Propane, Butane. Not oil if I'm reading right.
Saudi's pump mostly crude and ship it. They keep it simple.
Link Posted: 10/2/2014 7:38:43 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By sanunan:


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.

We are still importing shit ton of oil, mostly from South America and Canada.

The bottom line is that if we wanted to lower the price of gas / diesel for Americans, it could easily be accomplished. But that's not going to happen....you know, because of "capitalism".
View Quote View All Quotes
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By sanunan:
Originally Posted By cavgunner:
It'd sold overseas for more?

Not enough refineries?

Guesses


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.

We are still importing shit ton of oil, mostly from South America and Canada.

The bottom line is that if we wanted to lower the price of gas / diesel for Americans, it could easily be accomplished. But that's not going to happen....you know, because of "capitalism".


Yeah, we need more socialism. That'll solve everything, just like it always has.

Fucking Illinoisians.

Link Posted: 10/2/2014 7:39:20 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By pcsutton:
No...if we wanted to lower the price of gas / diesel for Americans...we need to build more refining capability and cease the EPA mandated bullshit that increases the price substantially. We could also open up federal lands to drilling.
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Originally Posted By pcsutton:
Originally Posted By sanunan:
Originally Posted By cavgunner:
It'd sold overseas for more?

Not enough refineries?

Guesses


There is still an export ban on crude.....but obviously, the loophole is just to refine it here and then ship it overseas.

We are still importing shit ton of oil, mostly from South America and Canada.

The bottom line is that if we wanted to lower the price of gas / diesel for Americans, it could easily be accomplished. But that's not going to happen....you know, because of "capitalism".
No...if we wanted to lower the price of gas / diesel for Americans...we need to build more refining capability and cease the EPA mandated bullshit that increases the price substantially. We could also open up federal lands to drilling.

We're still importing crude basically because of transportation issues (read costs)...like having to ship crude oil to the refineries via rail car...because the government is anal about pipelines.

As crude oil is traded on the world market, it can be cheaper for the refining companies to buy their raw material by the shipload than by the railroad tank-car.

The prices of gasoline and diesel in this country are a direct reflection of governmental meddling in a free market economy....which is the antithesis of "capitalism".





I'm still not really sure what to think about the Hyperion refinery getting cancelled. It's insanity.

Link Posted: 10/2/2014 7:39:44 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Nick710:
You're Welcome!!!

Come on Devon.

(Just had a 4.2 earthquake - SHAKE THAT OIL LOOSE!!!)

<a href="http://s88.photobucket.com/user/sfdude/media/IMAG1282_zps03601ff7.jpg.html" target="_blank">http://i88.photobucket.com/albums/k162/sfdude/IMAG1282_zps03601ff7.jpg</a>
View Quote


H&P Flex 3
My favourite Flex rig.
Link Posted: 10/2/2014 7:40:15 PM EST
Link Posted: 10/2/2014 7:41:57 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Qweevox:

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At these price levels we'll find the true cost of fracking.

There isn't a lot of profit producing synthetic oil at these levels. For some fields $90 a barrel of synthetic oil is too cheap to keep up production. Let's not forget "fracking" doesn't produce oil. It produces a substance that can be turned into synthetic oil, but it requires a lot of energy to do it.

There is no such thing as "shale oil". It's a misnomer. If prices drop much more a lot of production will have to come off line.






WTF are you talking about.


Fracing is to allow more production out of the formation. It doesn't TURN anything.

You did get your last sentance correct. "shale oil" or "sands oil" can only be productive if the $ per bbl stays over $65.00 US.



Link Posted: 10/2/2014 7:43:44 PM EST
[Last Edit: 10/2/2014 7:55:27 PM EST by IAMLEGEND]
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Originally Posted By Nagewaza624:

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Originally Posted By Nagewaza624:
Originally Posted By Qweevox:


At these price levels we'll find the true cost of fracking.

There isn't a lot of profit producing synthetic oil at these levels. For some fields $90 a barrel of synthetic oil is too cheap to keep up production. Let's not forget "fracking" doesn't produce oil. It produces a substance that can be turned into synthetic oil, but it requires a lot of energy to do it.

There is no such thing as "shale oil". It's a misnomer. If prices drop much more a lot of production will have to come off line.






WTF are you talking about.


Fracing is to allow more production out of the formation. It doesn't TURN anything.

You did get your last sentance correct. "shale oil" or "sands oil" can only be productive if the $ per bbl stays over $65.00 US.




How in the high, holy fuck did I miss this the first time through?

Qweevox normally posts some good shit but this is higher than Colorado.

ETA: BTW Colorado is where Naval Oil Shale Reserves 1 and 3 are located. They are now managed by the BLM.
Link Posted: 10/2/2014 7:44:44 PM EST
[Last Edit: 10/2/2014 7:45:49 PM EST by WilliamGray]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Nagewaza624:


At these price levels we'll find the true cost of fracking.

There isn't a lot of profit producing synthetic oil at these levels. For some fields $90 a barrel of synthetic oil is too cheap to keep up production. Let's not forget "fracking" doesn't produce oil. It produces a substance that can be turned into synthetic oil, but it requires a lot of energy to do it.

There is no such thing as "shale oil". It's a misnomer. If prices drop much more a lot of production will have to come off line.








WTF are you talking about.


Fracing is to allow more production out of the formation. It doesn't TURN anything.

You did get your last sentance correct. "shale oil" or "sands oil" can only be productive if the $ per bbl stays over $65.00 US.



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Originally Posted By Nagewaza624:
Originally Posted By Qweevox:



At these price levels we'll find the true cost of fracking.

There isn't a lot of profit producing synthetic oil at these levels. For some fields $90 a barrel of synthetic oil is too cheap to keep up production. Let's not forget "fracking" doesn't produce oil. It produces a substance that can be turned into synthetic oil, but it requires a lot of energy to do it.

There is no such thing as "shale oil". It's a misnomer. If prices drop much more a lot of production will have to come off line.








WTF are you talking about.


Fracing is to allow more production out of the formation. It doesn't TURN anything.

You did get your last sentance correct. "shale oil" or "sands oil" can only be productive if the $ per bbl stays over $65.00 US.





I think he is confusing fracing and Catalytic Cracking.
Then he got high and finished the rest of the post.
Link Posted: 10/2/2014 7:51:12 PM EST
[Last Edit: 10/2/2014 7:51:40 PM EST by Andrewc_c]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Qweevox:



At these price levels we'll find the true cost of fracking.

There isn't a lot of profit producing synthetic oil at these levels. For some fields $90 a barrel of synthetic oil is too cheap to keep up production. Let's not forget "fracking" doesn't produce oil. It produces a substance that can be turned into synthetic oil, but it requires a lot of energy to do it.

There is no such thing as "shale oil". It's a misnomer. If prices drop much more a lot of production will have to come off line.

View Quote


Quit with the fucking K in fracing.
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