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Fracking: The Death Knell Of OPEC
Investor's Business Daily ^ | 5 June 2013 | Editorial

Posted on 06/06/2013 12:24:07 PM PDT by IBD editorial writer

Petrotyrants: If there was any doubt the U.S. shale revolution is breaking the dominance of unsavory energy producers on global oil supplies, look no further than last week's OPEC meeting, where the alarm bells were going off. At Friday's Organization of Petroleum Exporting Countries meeting in Vienna, the mask of non-chalance about America's new fracking energy boom came off. After years of dismissing U.S. energy production as insignificant and expensive, OPEC suddenly said it would "study" the growth in hydraulic fracturing and horizontal drilling, a deceptively bland response to the biggest challenge the cartel has ever faced on its monopoly. The statement concealed the anything-but-tranquil tone of the meeting, in which members were attacking each other and warning of a split.

(Excerpt) Read more at news.investors.com ...


TOPICS: Editorial
KEYWORDS: fracking; opec; petrotyrants; shale
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Writing OPEC's epitaph on a bed of shale.
1 posted on 06/06/2013 12:24:07 PM PDT by IBD editorial writer
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To: IBD editorial writer

It’s interesting what has happened to the price of diesel compared to gasoline lately...


2 posted on 06/06/2013 12:26:01 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: IBD editorial writer

Sing the song children music to every real Americans ears!


3 posted on 06/06/2013 12:27:20 PM PDT by jimsin
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To: cuban leaf

What has happened?


4 posted on 06/06/2013 12:27:30 PM PDT by EEGator
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To: IBD editorial writer

Not if Bammy and his EPA have anything to do with it


5 posted on 06/06/2013 12:28:20 PM PDT by cork (Remember Bengazi!)
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To: IBD editorial writer

OPEC has spent decades buying and blackmailing politicians into suppressing American Oil production. That would have to change to make it a reality.


6 posted on 06/06/2013 12:29:07 PM PDT by martian622 (The Revolution is being televised.)
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To: IBD editorial writer

If the EPA doesn’t kill it first. They are hot on the heels and determined to make energy more expensive... as usual.


7 posted on 06/06/2013 12:29:15 PM PDT by dhs12345
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To: cuban leaf

What is your observation concerning diesel ?.


8 posted on 06/06/2013 12:31:32 PM PDT by bert ((K.E. N.P. N.C. +12 .....Lerner must be tried and executed..... crime against the Republic)
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To: IBD editorial writer

Won’t be.

The Obamadork Clown show of felon/cretins (amongst which is the EPA) will make sure we’ll never produce much.

Wanna bet?

That is, until we tell the DOJ, EPA, et al to shove it up their collective smelly Obamas.

And mean it.


9 posted on 06/06/2013 12:32:03 PM PDT by Da Coyote
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To: IBD editorial writer

OPEC can kill fracking overnight if it wants. Increase output and set price at $10 a barrel.

Fracking would shut down instantly.


10 posted on 06/06/2013 12:32:40 PM PDT by wrench
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To: IBD editorial writer

As long as the collectivists and the EPA are cojoined, it won’t matter if oil came out of the ground at 5 cents a barrel.


11 posted on 06/06/2013 12:32:58 PM PDT by lurk
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To: EEGator

Where I live, diesel is less than premium gas.


12 posted on 06/06/2013 12:33:01 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: dhs12345

I’m at Ground Zero here in Pennsylvania, and let me tell you, the politicians who are pushing for expanded shale development are mostly Democrats.

They start slobbering and having multiple orgasms at the mere thought of all the new revenue streams headed their way. Bammy would have an open party revolt if he tried to shut that off now.


13 posted on 06/06/2013 12:34:21 PM PDT by Buckeye McFrog
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To: bert
I don't know about what cuban leaf saw, but yesterday when I filled up regular gasoline was $3.999 and Diesel was $3.989. First time I remember Diesel ever being cheaper than regular gasoline.
14 posted on 06/06/2013 12:35:14 PM PDT by KarlInOhio (Choose one: the yellow and black flag of the Tea Party or the white flag of the Republican Party.)
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To: bert

What is your observation concerning diesel ?.


A year ago, diesel was pretty much always $.80 to $1 more than regular, regardless of the price of regular. Now it’s on par with premium gas, or about $.20 more, or even less. It’s been a slow compression of the difference for about 8 months. I’ve been following it because I needed a new car and was considering the Volkswagen Golf TDI for my 122 mile round trip commute.


15 posted on 06/06/2013 12:35:27 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: cuban leaf

Diesel been higher than gas for a long time now. I’m going to check here next time I go out.


16 posted on 06/06/2013 12:35:52 PM PDT by EEGator
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To: IBD editorial writer

We could make these bastards eat sand if we WANTED to.


17 posted on 06/06/2013 12:36:58 PM PDT by ryan71 (The Second American Revolution)
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To: wrench

True. But the oil we’re presently drilling for would still be there when OPEC’s oil they’ve sold us for $10 runs out. Meanwhile we’ve got $10 oil.

Sounds like a win for us.


18 posted on 06/06/2013 12:37:06 PM PDT by Sherman Logan
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To: KarlInOhio

I don’t know about what cuban leaf saw, but yesterday when I filled up regular gasoline was $3.999 and Diesel was $3.989. First time I remember Diesel ever being cheaper than regular gasoline.


Zactly. And, frankly, I think it is price manipulation of the price of gasoline. With all this new source, gas should be well below $3 now.


19 posted on 06/06/2013 12:37:29 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: wrench

“OPEC can kill fracking overnight if it wants. Increase output and set price at $10 a barrel.”

“Fracking would shut down instantly.”

As would OPEC. They can’t make money at that price.


20 posted on 06/06/2013 12:38:46 PM PDT by ryan71 (The Second American Revolution)
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