Gas Under $2...coming soon...maybe

[Gipper]

​

LONDON - A shale oil boom means the U.S. will overtake Saudi Arabia as the world's largest oil producer by 2020, a radical shift that could profoundly transform not just the world's energy supplies, but also its geopolitics, the International Energy Agency said Monday.

In its closely watched annual World Energy Outlook, the IEA, which advises industrialized nations on their energy policies, said the global energy map "is being redrawn by the resurgence in oil and gas production in the United States."​

The assessment is in stark contrast with last year, when it envisioned Russia and Saudi Arabia vying for the top position.​

"By around 2020, the United States is projected to become the largest global oil producer" and to overtake Saudi Arabia for a time, the agency said. "The result is a continued fall in U.S. oil imports [currently at 20% of its needs] to the extent that North America becomes a net oil exporter around 2030."​

This major shift will be driven primarily by the faster-than-expected development of hydrocarbon resources locked in shale and other tight rock formations that have just started to be unlocked by a new combination of two technologies: hydraulic fracturing and horizontal drilling.​

http://www.rigzone.com/news/oil_gas...m_to_Turn_US_Into_Worlds_Largest_Oil_Producer​

Experts claim this will reduce the cost of gasoline significantly for Americans....like maybe reducing it to under $2 per gallon....

This is great news to some of us. But we know warmers, libs, and enviro whackos will hate this. I am betting they will do anything to keep the cost of gas high, including treason, in a foolish effort to 'save the planet.' Ugh!

 

[dogtowner]

the administration has already begun new restrictions on government land. they'll nip this in the bud soon enough. Obama has been on record for years in support of far higher energy prices and this is one area I don't believe he's lying about.

 

[Gipper]

the administration has already begun new restrictions on government land. they'll nip this in the bud soon enough. Obama has been on record for years in support of far higher energy prices and this is one area I don't believe he's lying about.

yes...you would think the idiot Rs would have brought this up during the campaign....but as with so many important issues, they failed.

 

[GenSeneca]

$2 a gallon? Never happen... Dems will hike taxes on "big oil" to keep the price as high as possible. Most Americans are too economically illiterate to realize that raising taxes on corporations comes out of the pockets of the people who buy the products, consumers are the ones who pay the taxes, not the corporations... So as gas prices get higher because of increased taxes, the Progbots will demand Dems pass even higher taxes on the oil companies and thus reset the cycle.

 

[Cruella]

They just found a bunch of oil in CA that would bring in billions and create a million jobs.....but with our envirowackos it will never happen....in fact, today the state just started selling polution permits.....say good bye to more businesses and jobs....stupid ****liberals

 

[dogtowner]

yes...you would think the idiot Rs would have brought this up during the campaign....but as with so many important issues, they failed.

latest occurred days after the election. but are significant enough that they were being finalized during the debates if not earlier.

 

[steveox]

I didnt win powerball so i cant go to Canada

 

[PLC1]

We're not going to see $2 a gallon gas again, not for any significant length of time. Of course, if there is another big recession, and the demand goes way down temporarily, then it may be that cheap once again in some parts of the country for a little while, but oil shale gas is not going to be that cheap. Recovering oil from shale is only profitable when the cost per barrel of oil is high enough to recoup the costs of said recovery. As long as the price of oil is high, the cost of gas is going to be high, too.

That said, having a domestic supply of oil could eventually free us from dependence on the ME, which is a good enough reason to continue to develop oil shale recovery, even without the prospect of filling the SUV for fifty bucks instead of a hundred.

 

[steveox]

Anyone heard Israel declaring war on Hamas another reason gas is going up.

 

[Gipper]

$2 a gallon? Never happen... Dems will hike taxes on "big oil" to keep the price as high as possible. Most Americans are too economically illiterate to realize that raising taxes on corporations comes out of the pockets of the people who buy the products, consumers are the ones who pay the taxes, not the corporations... So as gas prices get higher because of increased taxes, the Progbots will demand Dems pass even higher taxes on the oil companies and thus reset the cycle.

Agreed, and yet many Americans foolishly believe the D Party (really commies) is protecting the interests of the lower and middle classes. And the Rs are incapable of pointing out the fallacies of the left or offering valid reasons why we need to change course...because they too are infected by liberalism.

BO spouts off about climate change yesterday with numerous lies and distortions...and the whack job media says nothing. The libs will stop at nothing to impose their will on AGW and as a consequence, keep oil and gas prices artificially high hurting most Americans.

I am beginning to think I should just become a sports fanatic and say the hell with politics. It is so depressing what the left has done to this country.

 

[Pandora]

I didnt win powerball so i cant go to Canada

I only won 24 dollars so I cant send you.

 

[Pandora]

Anyone heard Israel declaring war on Hamas another reason gas is going up.

Hamas has declared war on Israel a long time ago.

 

[Cruella]

Hamas has declared war on Israel a long time ago.

I don't think Israel or Hamas has any oil either.

 

[Pandora]

I don't think Israel or Hamas has any oil either.

Well when you cant blame greed of oil then just blame the Jews!

 

[Cruella]

Well when you cant blame greed of oil then just blame the Jews!

Then what would the Religion of Hate do if they didn't have the Jooooos to blame their insufferable lives on? Kinda similar to the liberals blaming R's.