Abundant gasoline at economical prices?
Sorry, not in keeping with the Obama Plan to destroy the nation and bring on the Great People’s Cultural Revolution.
Obama will find a way to f*ck it up somehow, never fear.
Here in California, CARB will just require 4 summer formulas and 4 winter formulas, causing the refineries constant shortages of the right formula. Easy $5/gallon gas.
It will be just like the shirts in the Eastwood Movie Heartbreak Ridge. The refiners will never be able to guess the California formula-of-the-month.
Just a thought, since we do have so much natural gas, why hasn’t someone built a car that will run on it and set up filling stations for them? Probably a stupid question, but I wouldn’t mind seeing gasoline dropping down to about a $1 a gallon. I can remember when it was .25 cents per gallon and sometimes cheaper than that. Anyone else remember Gas wars before they outlawed them?
Makes me laugh that GE sold it’s plastic division because they couldn’t compete with the low cost oil and gas in the middle east. They sold it to an Middle East Company to move the production to China and the Middle East.
Over a 1000 lost their jobs because of the peak oil theory.
In a perfect world Obama would be cutting all of his funding of green energy programs to avoid the fiscal cliff.
The EPA will mandate use of fuel blends specifically designed to destroy the engines of existing vehicles most likely to benefit from these abundant new domestic sources.
Abundant domestic supply and low prices mean the shattering of OPEC control over the US, the defunding of many Middle East sponsored projects, and best of all - the Middle East suddenly becomes someone else’s problem. Like Europe’s.
For every bust, there is another boom when the price goes up.
Oil at $50 = Depression.
I still have a few contacts in the energy business.
This is all speculation, but it is informed speculation. The thing to remember is that it all depends on the EPA giving the green light.
In a rational market, as the price of oil as traded is LESS than the cost of extracting and transporting it, the well would simply be shut down.
So the Current Regime in the White Hut is faced with the necessity of INCREASING the costs of production on ALL oil and natural gas sources, either by burdensome regulation, or application of taxes in such strategic manner that the producers must pass through these costs to consumers.
Up to now, the Current Regime has had little difficulty in imposing these additional costs of production, through rules on the generation of carbon dioxide in excess of some theoretical and completely arbitrary standard, resulting on the imposing of fines or taxes, or of other POTENTIAL (but unproven) impacts on the environment.
And a direct increase of taxes on the consumer at point of purchase, such as fuel dispensed for motor vehicles, or electricity to run home and industry, is always a dream for the Current Regime, providing them with the means to control and direct the internal workings of the entire country. They get to pick the winners and losers, but in the end, they pick only the losers. The winners are happy accidents that gain through either falling through the cracks in the regulatory network, or have been purposfully ignored by the successors to the Current Regime.
In short, anti-growth measures, taken not to “conserve” anything, but to thwart any expression whatsoever of the principles of capitalism.
Is Schels a retired billionaire or just another one of the 50,000+ financial analysts making a prediction?
Prediction: Oil will be either more or less than $50 one year from now.
Have no fear the prices will continue to grow as our corrupt politicians figure out different ways to keep their fingers in the pie.
Yes. nobama will NEVER let this happen. $6/gal gasoline is a must have to further drive our country towards being a Turd World Banana Republic.
As it approaches $50, the drilling is going to slow way down. When the drilling doesn't keep up with the fast falling production rates from these tight formations, the inland supply in the US is going to fall and the price will stabilize higher than $50. That price just will not support the continued investment in places like the Bakken, Eagle Ford and other shale formations.
If oil went down to $50/barrel, the msm would shout that it’s all due to Obama’s wonderful leadership.
Might get to $50/bbl, but there will be $50/bbl taxes on it.
Even if it happens gas prices will remain high. Too many oxes would be gored by lower prices, not the least of which being Dear Leader. Market manipulation is the name of the game. $3+ per gallon is the New Normal.
The EPA will “Kill Colorado” long before oil ever approaches $50/barrel. The Agenda will not be sidetracked.