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 ...
Imagine how the economy would be doing without that Marxist @sshat in the White Hut.
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.
Oil production is currently up over 50% since 2008 and nat gas production is at all time highs.
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.
Now THAT’S a chart.
he’s a fracking idiot!
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...
That’s a real hockey stick curve
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.
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
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.
Despite King Urkel and his EPA minions. Look at what's been done by the Marxist in other industries (e.g. coal).
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!
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.
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.
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