Report Sees U.S. as Top Oil Producer, Overtaking Saudi Arabia, in 5 Years - NYTimes.com

WOOOOO, let the good times roll.

I think GM should introduce a new line of big blocks in every car, just to celebrate! Now that we have Arab oil like money we can buy gold plated cars, $250k watch's and insanely large yachts.

Some states are already rolling in oil money, in North Dakota for example. There is no rescission their. I remember reading one city had 1% unemployment and 1,700 unfilled positions. Another county had 246 people un employed...to low for a percentage measure.

If I was unemployed I'd be looking for oil work in North Dakota...

__________________
1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

The irony is that this oil is only available because of current high oil prices -- higher cost of extraction.

It's pretty sad that we're still developing a 19th century tech instead of moving to the 20th. Nuclear and renewables are the future; petroleum should be only for chemical processes.

So do you drive a prius?

__________________
have no worries.....President Obama swears "If you like your gun, you can keep it

Most of the time I drive a bicycle, walk, or take the subway. Before the hurricane, I drove about 1-2x per week, but my car is still where I left it before the storm.

I have a 240D, but I'd be happy to drive an all-electric or hydrogen car if charging and fuel were easily available.

I actually agree with you to some extent.
LPG & ethane (a component in natural gas) should not be used as fuel. Its the cleanest starting point for plastics & petrochemicals.
Can you imagine life without plastics or other synthetics?

__________________
Grumpy Old Diesel Owners Club group

I no longer question authority, I annoy authority. More effect, less effort....

1967 230-6 auto parts car. rust bucket.
1980 300D now parts car 800k miles
1984 300D 500k miles
1987 250td 160k miles English import
2001 jeep turbo diesel 130k miles
1998 jeep tdi ~ followed me home. Needs a turbo.
1968 Ford F750 truck. 6-354 diesel conversion.
Other toys ~J.D.,Cat & GM ~ mainly earth moving

That's not irony, that's the market. You know, like if demand for houses goes up, they cost more, people build more.

Then they over-build and prices tumble. People who couldn't afford houses at the previous price can now afford them. People who wanted a bigger house can now upgrade.

It's pretty cool how that works even without congress.

Yeah. We should just let more people starve in the mean time.

__________________
2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

More like- beats a sharp stick in the eye.

It's not like it's going back to twenty-nine cents/gallon.

No reason it should cost much less than now, but it's better to keep the money in our economy (if we can). Good for the workers who produce the oil.

There was an interesting report on NPR yesterday about how we will eventually need almost no ME oil. It will all basically go to China, so they should be responsible for keeping the Strait of Hormuz open. Except... we don't feel comfortable letting them have the toys to make that happen....

__________________
80 300SD (129k mi) 82 240D stick (193k mi)77 240D auto - stick to be (153k mi) 85 380SL (145k mi) 89 BMW 535i 82 Diesel Rabbit Pickup (374k mi) 91 Jetta IDI Diesel (155k mi) 81 VW Rabbit Convertible Diesel 70 Triumph Spitfire Mk III (63kmi)66 Triumph TR4a IRS (90k mi)67 Ford F-100 (??)

I don't think they need to turn to us or anyone else for their military "toys."

The Chinese military will be 5 times more powerful than the US military - Military Affairs - Chinadaily Forum

__________________
2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

All the more reason to try to suck it dry as fast as we can!

__________________

1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

Super cool, like bio-fuel: you know, more demand, higher prices, starving folks elsewhere on the planet

__________________
2011 Prius

When OPEC feels a threat to their dominance they can lower prices to the point necessary to remove the threat.

They have done this before. There is no reason they could not do so again.

The purpose of a Cartel is to control prices, and this works not only in keeping prices high but in keeping profits, for others, low.

Only an import tax would lead North America to oil independence, but that is subject beyond just increased production.

And nuclear does what? Boils water to make steam, which spins a turbine, which turns a generator, to make electricity.

Steam turbines are 19th century tech, as is harnessing electricity to do something useful, and harnessing the basic steam cycle to do useful work is 18th century tech. The only 20th century part of it is the nuclear reactor itself.

That's how we used to explain the nuclear propulsion plant, to the non-engineering types doing submarine qualifications - it's just a high tech teakettle that boils water - the rest of the propulsion plant was not far removed from what you'd have found on a battleship in Teddy Roosevelt's Great White Fleet around 1900 or so - or even a Civil War ironclad - just updated and refined with advances in technology.

__________________
Just say "NO" to Ethanol - Drive Diesel

Mitchell Oates
Mooresville, NC
'87 300D 212K miles
'87 300D 151K miles - R.I.P. 12/08
'05 Jeep Liberty CRD 67K miles
Grumpy Old Diesel Owners Club

Like biofuel in that if there is a market demand, there will be biofuel.

If there is low demand then biofuel will have to get price-competitive. Or we can soak the taxpayer to subsidize what people don't want. Like solar power.

Yeah, an import duty. That always works well, huh?

How exactly would a price war with a cartel hurt the consumer?