sweeper54 said:

There's an oil glut the Saudis are dump oil onto the market in an effort to kill this pipeline. Hope it works.

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LunarEclipse said:

Really?  We can now somehow blame Saudi Arabia for oil prices AND shaping domestic policy in the US?

This is the bones of the Trans Texas Corridor on the way to even more of a North American Union.  I seriously doubt the Saudis are involved.

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The Ecstatic said:

They have the largest known oil fields on the planet.

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Quote:

Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp OPEC.

A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be "equal to the entire world's proven oil reserves."

Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels.

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Mush4Brains said:

Until domestic crude production is infused with domestic refined production, it doesn't matter how much potential the United States has.  Gas has dropped from ~$4 to <$3 over the past few years.  At it's highest point in the past few years WTI crude was going for damn near $115 a barrel, now it's roughly $40 cheaper and at $75 or so. 

When Saudia Arabia can produce this crude at around half the price than most any frack operation can (nevermind the fact that the NA oil corps are spending billions and billions just to get the tech operational to access the deposits here), there is no way that these deposits will be even attempt to be accessed on a mass scale until oil prices go back up.

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Mush4Brains said:

Until domestic crude production is infused with domestic refined production, it doesn't matter how much potential the United States has.  Gas has dropped from ~$4 to <$3 over the past few years.  At it's highest point in the past few years WTI crude was going for damn near $115 a barrel, now it's roughly $40 cheaper and at $75 or so. 

When Saudia Arabia can produce this crude at around half the price than most any frack operation can (nevermind the fact that the NA oil corps are spending billions and billions just to get the tech operational to access the deposits here), there is no way that these deposits will be even attempt to be accessed on a mass scale until oil prices go back up.

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zappaisgod said:

Mush4Brains said:

Until domestic crude production is infused with domestic refined production, it doesn't matter how much potential the United States has.  Gas has dropped from ~$4 to <$3 over the past few years.  At it's highest point in the past few years WTI crude was going for damn near $115 a barrel, now it's roughly $40 cheaper and at $75 or so. 

When Saudia Arabia can produce this crude at around half the price than most any frack operation can (nevermind the fact that the NA oil corps are spending billions and billions just to get the tech operational to access the deposits here), there is no way that these deposits will be even attempt to be accessed on a mass scale until oil prices go back up.

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English much

The current price is enough to frack.  The Saudis and the other cheap drillers can't afford to flood the market because they will be fucking themselves out of cash.  Don't forget, for the vast majority of major oil producers that is their only source of income.  Cutting the price of their only product to squelch domestic US production is, at best, a delaying tactic.  Eventually their easy milkshake will be used up.  And then what, bitches?

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Mush4Brains said:

Solid source.


My great uncle's nephew's husband who is a futures trader said the exact opposite thing.


Conventional fracking may be getting cheaper and cheaper, but that doesn't mean the technology to get to deposits we can't currently get to are.

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