Posted on 07/02/2012 9:27:22 AM PDT by Ernest_at_the_Beach
July 2012
Over the past nine months I have been writing extensively about how the United States is on the verge of a major positive development. Late last year, Goldman Sachs jumped on board with a special report to investors. In the past few months, institutional finance magazines began reporting this major development. In June, I noticed a handful of television journalists start to talk about it. Newspapers are beginning to write about it as well.
What is it?
"It" is the United States becoming energy self-sufficient. This means that the United States is very close to not needing energy, particularly oil, from nations we do not consider particularly friendly. We will still need oil from Canada and some other allies until we more fully commit to alternative energies, however, we won't need much from anywhere else, as has been the case for almost 50 years now. Already, of the oil we use, less than 10% is now from OPEC.
This is different than energy independent, which would mean we were completely supplying ourselves, but very good nonetheless.
The effects of this development in energy will create a number of positive impacts for America. The most obvious is that our domestic energy costs should be lower. Not only is that good for households, but it is extremely good for business. Already, because energy costs in other nations can be 300% or 400% higher than in the United States, companies have almost stopped sending jobs overseas and some are bringing jobs back as wage inflation in other nations further erodes their competitive advantages.
(Excerpt) Read more at kirkspano.com ...
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How to play the Bakken boom--Commentary: North Dakota shale is a game changer
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By Kirk Spano
ELM GROVE, Wisc. (MarketWatch) — Bakken oil shale stocks have gotten a lot of attention online recently. Since I have written about Bakken stocks too, I recently decided to drive out to North Dakota to see first-hand what was really going on in the Williston Basin. Folks, if you haven’t seen it, you don’t know the half of it.
What I saw was a legitimate boom, the type that leads to cities being built and economies being stimulated. Infrastructure upgrades including roads, telecommunications, electrical, bridges, rail lines and pipelines were apparent not only near the boom town of Williston, but throughout the region. Subdivisions are also being constructed for the tens of thousands of people moving into the area.
Driving the growth is one of the best oil deposits in America. The Williston Basin is a closed system, essentially a 200,000-square-mile rock bowl filled with multiple layers of petroleum, including oil and natural gas liquids. The Bakken shale gets the most press, however, there are multiple recoverable levels, called benches, in different formations, including the Three Forks.
If much of the funding for the Global Warming Scam via the envimental NGOs from OPEC...this is very BAD NEWS for them.
All the more vital to the Gulf sheiks to make sure that their creature Hussein is re-elected so he can bring this development to a screeching halt.
The environmentalist will be searching for some lizard that makes it thru the Winter....good luck with that.
Huge over-hype to promote investments. Quite false.
We get as much crude oil from OPEC as we do from Texas, North Dakota, Alaska, California, Oklahoma, New Mexico and Louisiana combined.
http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
Bookmark for later response.
Thanks Ernest.
Gulf and Western government sources in contact with Saudi officials said the OPEC power can tolerate oil at $90 or below for months, price levels that hurt Iran and Russia as they face off against Riyadh over the conflict in Syria. .... Strong supporters of fellow Sunni Syrian rebels seeking to oust Syrian President Bashar al-Assad, Saudi leaders have criticised Russia for defending him. With Iran, Russia is Syria's main ally, providing most of its arms. Both Moscow and Tehran need crude at $115 a barrel to meet budget requirements... a 30-year high of 10 million bpd... made up for a slump in output from Iran because of sanctions... drawing criticism from Tehran... Algeria, Iraq and Venezuela. [thanks Tailgunner Joe]
Russia deserves it!
Thanks for the info.
We get 4.1 million barrels per day (MMBPD) from OPEC.
We get 2.4 MMBPD from Canada.
We get 1.0 MMBPD from Mexico.
We still import more oil than we produce ourselves. While we have finally turned the decline into an increase in our production amounts, imports, including from OPEC, are very significant to the US oil supply.
U.S. Field Production of Crude Oil = 6.1 MMBPD
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M
U.S. Imports of Crude Oil = 8.6 MMBPD
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIMUS2&f=M
Usually I have found energy information in a press releases promoting investments to be inaccurate or misleading. Many are simply false.
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