[PAR35]

What happened to those ‘peak oil’ folks that were posting on FR so much a few years ago?

[PAR35]

What happened to those ‘peak oil’ folks that were posting on FR so much a few years ago?

[rawcatslyentist]

Just in time to turn the economy around for the 2nd coronation.

Has Mutt endorsed the usurper like his predecessor did? He will.

[goodnesswins]

Gas is still about $4.19/gal in our area

[American in Israel]

There is a glut of crude, but not because of so much production. Oil sands and shale take huge facilities to produce, facilities that are not yet built.

The oil glut is from the depression. People are using a whole lot less gas then they were before Obama took office.

Obama promised change, here it is. Note in this chart it clearly shows a source for excess oil production, the world still produces it at the same level, but the refineries are simply not using it. We use 200,000 barrels of gasoline less a day now from this time last year! This month Alaskan tankers returned from the west coast with oil in their holds that they could not sell. Cited were "refinery problems". Yeah, its a problem when nobody can buy your product and your tanks are full.

Here is another look at the recent trend:

Its not just oil, here is an electrical usage chart, note that prior recessions had very little effect. This indicates that what we are experiencing is not a long recession but a full blown depression.

[aposiopetic]

Until recently, it was assumed the days of oil-drilling booms in the middle of North America were over. But controversial practices, like mining the oil sands of Alberta and hydraulic fracturing, are changing that.

< snip >

Other energy companies have other pipelines planned, including TransCanada's controversial Keystone XL pipeline.

No bias on NPR at all...

[grobdriver]

Cheaper oil.
Cheaper gasoline/diesel/avgas/JetA

That's going to piss off the enviro-wackos.

[pallis]

“...as cheap as $3 a gallon...”

Not nearly cheap enough.

[Southack]

Fracking is saving the U.S. economy.