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Fracking Insiders See No End To Boom
forbes ^ | 5/04/2014 | Jeff McMahon

Posted on 05/04/2014 4:34:34 PM PDT by ckilmer

Despite official predictions that the U.S. energy boom will pop like a bubble in the next 20 years, people engaged in drilling for oil and gas—from the financiers to the frackers—see no end to boom times or low gas prices, industry insiders said in Chicago Friday.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy
KEYWORDS: fracking; oil

1 posted on 05/04/2014 4:34:34 PM PDT by ckilmer
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To: ckilmer

Imagine how the economy would be doing without that Marxist @sshat in the White Hut.


2 posted on 05/04/2014 4:37:59 PM PDT by peyton randolph (Show me the man and I will find the crime. - Lavrenti Beria)
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To: thackney

imho there may be no end to the drilling for a long time but sometime in the next 10-20 years natural gas trains trucks and busses plus electric cars are going to curb demand. But since prices for oil are set globally—that’s not happening soon. What’s more fracking outside the USA in volume won’t take off for imho much before 2020 because the complexity of the process won’t easily transfer. But I could be wrong about that complexity. It may be that after awhile they’ll find it easily reproducible and the opportunities overseas will be more compelling. But right now I don’t read reports of the mid level US companies doing most of the fracking and getting most of the expertise —taking their expertise overseas. For now there’s just too many opportunities apparently here in the USA. But we’ll see.


3 posted on 05/04/2014 4:41:20 PM PDT by ckilmer
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To: peyton randolph

Oil production is currently up over 50% since 2008 and nat gas production is at all time highs.


4 posted on 05/04/2014 4:42:43 PM PDT by Wyatt's Torch
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To: peyton randolph

agree. I’m looking at the barrel from the business end. And really, without the fracking revolution the USA would be in deep kimchee. All the gold bugs would be spot on correct.


5 posted on 05/04/2014 4:43:07 PM PDT by ckilmer
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To: ckilmer
Saudi Texas:


6 posted on 05/04/2014 4:48:13 PM PDT by Wyatt's Torch
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To: Wyatt's Torch

Now THAT’S a chart.


7 posted on 05/04/2014 4:48:52 PM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: ckilmer
see no end to boom times or low gas prices
Low gas prices? I've been paying about $3.75/gal for years. What planet is this guy on?
8 posted on 05/04/2014 4:50:24 PM PDT by oh8eleven (RVN '67-'68)
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To: St_Thomas_Aquinas
Saudi America - Another US energy milestone: US was the world’s largest petroleum producer in December for the 14th straight month


9 posted on 05/04/2014 4:53:23 PM PDT by Wyatt's Torch
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To: peyton randolph

he’s a fracking idiot!


10 posted on 05/04/2014 4:55:16 PM PDT by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: ckilmer

Bill Bennett had a guy on who’s name escapes me says this Fracking Revolution will be a 50 year ( growth ) event for the economy and if I understood him correctly, maybe the biggest paradigm changer we have seen and it makes you wonder which historical game changing inflection points it may eclipse...


11 posted on 05/04/2014 5:00:18 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: St_Thomas_Aquinas

That’s a real hockey stick curve


12 posted on 05/04/2014 5:03:33 PM PDT by Bruce Kurtz
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To: ckilmer

At least a few US flag merchant ships are being built or converted to burn LNG. The LNG ships that were built in the 1970’s also burned LNG, I believe they captured the evaporating gasses and piped it back to the boilers.


13 posted on 05/04/2014 5:09:53 PM PDT by Maine Mariner
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To: oh8eleven

Hi oh8eleven,

I think the author was referring to natural gas - not gasoline. As long as the bozo is in the White House, we won’t return to lower prices on gasoline. I saw an article last week that reminded me that gasoline was $1.75 when the clown took office.

Thank you for your service.

Gwjack


14 posted on 05/04/2014 5:13:46 PM PDT by gwjack (May God give America His richest blessings.)
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To: ckilmer

I think, you will see fracking in a few places outside the US... Poland, China, maybe Brazil...but, not enough to challenge the US. Germany and France SHOULD be doing it. But, they’re environmental weenies.

I do think the growth curve will flatten.. there simply aren’t enough physical drilling rigs available to keep up this pace of growth.


15 posted on 05/04/2014 5:18:17 PM PDT by SomeCallMeTim ( The best minds are not in government. If any were, business would hire them!)
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To: Wyatt's Torch
Oil production is currently up over 50% since 2008 and nat gas production is at all time highs.

Despite King Urkel and his EPA minions. Look at what's been done by the Marxist in other industries (e.g. coal).

16 posted on 05/04/2014 5:31:15 PM PDT by peyton randolph (Show me the man and I will find the crime. - Lavrenti Beria)
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To: ckilmer

Natural gas comes from fracking and Natural Gas accounted for 30% of the total electricity generation in 2012. Plus with the reduction in coal, natural gas usage will increase. Got to charge those electric cars for some other form of energy. Remember it’s all about the BTUs!


17 posted on 05/04/2014 5:31:51 PM PDT by Lockbox
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To: SomeCallMeTim

Hydraulic fracturing is currently a very widespread and growing practice in the US, Canada, Mexico, Argentina, Russia, China and Australia.

It’s present a growing slowly in Europe (Poland, Germany, UK, Romania), India, N Africa and the middle east.

It’s not necessary in higher permeability reservoirs in places like offshore gulf of Mexico, Brazil, E Africa, etc.

China and Mexico will probably see the most growth this decade.


18 posted on 05/04/2014 5:38:46 PM PDT by EERinOK
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To: SomeCallMeTim

Hydraulic fracturing is currently a very widespread and growing practice in the US, Canada, Mexico, Argentina, Russia, China and Australia.

It’s present a growing slowly in Europe (Poland, Germany, UK, Romania), India, N Africa and the middle east.

It’s not necessary in higher permeability reservoirs in places like offshore gulf of Mexico, Brazil, E Africa, etc.

China and Mexico will probably see the most growth this decade.


19 posted on 05/04/2014 5:38:50 PM PDT by EERinOK
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20 posted on 05/04/2014 5:46:39 PM PDT by RedMDer (May we always be happy and may our enemies always know it. - Sarah Palin, 10-18-2010)
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To: peyton randolph

Coal is still the number one producer of electric energy. It’s decline in production has been offset by nat gas fired plants. I posted a chart that showed electricity production by type in another thread earlier this week.


21 posted on 05/04/2014 6:18:30 PM PDT by Wyatt's Torch
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To: ckilmer

Why is the price of gasoline going up number one and, what about the conflict over water with agriculture??


22 posted on 05/04/2014 7:12:42 PM PDT by varmintman
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To: SomeCallMeTim

I do think the growth curve will flatten.. there simply aren’t enough physical drilling rigs available to keep up this pace of growth.
...............
what they’re doing is increasing the output per rig by drilling more wells from a single rig. so rigs can have 20-30 wells targeting different depths and directions and distances from the rig.

the real deal is out in the permian basin where there are a dozen or more different levels of oil and gas. When the permian basin starts scaling up to its potential production rates are going to rise far above expectations.


23 posted on 05/04/2014 8:21:25 PM PDT by ckilmer
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To: Wyatt's Torch

judging by reports from the Permian basin, that line will keep going straight up for at least another four more years.


24 posted on 05/04/2014 8:23:27 PM PDT by ckilmer
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To: taildragger

Bill Bennett had a guy on who’s name escapes me says this Fracking Revolution will be a 50 year ( growth ) event for the economy and if I understood him correctly, maybe the biggest paradigm changer we have seen and it makes you wonder which historical game changing inflection points it may eclipse...
..............
the game changer that this one eclipses is the Saudi arabian oil production that went up 6 million barrels@ day from roughly 1969-75. Because the saudis at the time could pull oil out of the ground at the time for .25-.50 cents a barrel—they killed American oil production which had been going up steadily since WWII. As a result US oil production went down for 35 years from 1970-2005.

That said, I think that natural gas trains trucks and buses plus electric cars and maybe hydrogen cars at some point will stop and then turn down the demand for gas. When that happens is beyond me. But it won’t be 50 years. More likely it will be less than 30 years.


25 posted on 05/04/2014 8:31:18 PM PDT by ckilmer
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To: varmintman
Here's why. US Oil Production has exploded but refinery production has not:


26 posted on 05/05/2014 4:56:13 AM PDT by Wyatt's Torch
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To: gwjack
Thanks - I'd do it again in a heartbeat.
You're right about natural gas ... my bad.Given this brutal winter's impact on my heating bills, I never gave NG a thought.
27 posted on 05/05/2014 5:27:52 AM PDT by oh8eleven (RVN '67-'68)
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To: Wyatt's Torch

Thanks, wouldn’t have occurred to me, but the problem is still greentards.


28 posted on 05/05/2014 7:50:43 AM PDT by varmintman
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To: varmintman

No doubt. It could certainly be “better”. I just don’t want FReepers to make comments about oil/gas that aren’t true.


29 posted on 05/05/2014 7:55:24 AM PDT by Wyatt's Torch
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