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Author	Topic: The Coming Oil Boom	Post a Reply Back to Topics

Cakes77 Champion Author Harrisburg Posts:5,280 Points:1,676,320 Joined:Aug 2006	Message Posted: Aug 10, 2012 4:53:14 AM Ignore Cakes77 Report Abuse NEW YORK — Forget America’s fiscal cliff, Europe’s currency troubles or the emerging-markets slowdown. The most important story in the global economy today may well be some good news that isn’t yet making as many headlines — the coming surge in oil production around the world. Until very recently, our collective assumption was that oil was running out. That was partly a matter of what seemed like geological common sense. It took millions of years for the earth to crush plankton into fossil fuels; it is logical to think that it would take millions of years to create more. The rise of the emerging markets, with their energy-hungry billions, was a further reason it seemed obvious we would have less oil and gas in 2020 than we do today. Obvious — but wrong. Thanks in part to technologies l Visit NY Times for full article

Cakes77

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Message Posted: Aug 10, 2012 4:53:14 AM

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NEW YORK — Forget America’s fiscal cliff, Europe’s currency troubles or the emerging-markets slowdown. The most important story in the global economy today may well be some good news that isn’t yet making as many headlines — the coming surge in oil production around the world.

Until very recently, our collective assumption was that oil was running out. That was partly a matter of what seemed like geological common sense. It took millions of years for the earth to crush plankton into fossil fuels; it is logical to think that it would take millions of years to create more. The rise of the emerging markets, with their energy-hungry billions, was a further reason it seemed obvious we would have less oil and gas in 2020 than we do today.

Obvious — but wrong. Thanks in part to technologies l
Visit NY Times for full article

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Cakes77 Champion Author Harrisburg Posts:5,280 Points:1,676,320 Joined:Aug 2006	Message Posted: Aug 10, 2012 10:56:56 AM Ignore Cakes77 Report Abuse Thanks for your nice comments folks on this article. Keep them coming!
MontanaMac Champion Author Washington Posts:1,736 Points:410,050 Joined:May 2011	Message Posted: Aug 10, 2012 8:43:55 AM Ignore MontanaMac Report Abuse Well it must be true if the NYTs says so.
playtimeCLE Champion Author Cleveland Posts:8,694 Points:1,570,125 Joined:Nov 2008	Message Posted: Aug 10, 2012 8:35:53 AM Ignore playtimeCLE Report Abuse If oil companies can be smart & drill where they can staying out of parks & the like, & backing off when they are causing a problem, there is a chance this could work out. But you have to use some common sense. You can't block all drilling & you can't just drill anywhere.
Night Owl Champion Author Toronto Posts:7,680 Points:1,812,950 Joined:Jul 2004	Message Posted: Aug 10, 2012 8:34:24 AM Ignore Night Owl Report Abuse Let's hope this will put greedy Wall Street oil speculators out of business.
ss70 Champion Author Detroit Posts:9,918 Points:1,895,250 Joined:Sep 2005	Message Posted: Aug 10, 2012 8:23:37 AM Ignore ss70 Report Abuse hope it brings oil price down.
doctorindyj Champion Author Santa Fe Posts:3,533 Points:863,335 Joined:Nov 2009	Message Posted: Aug 10, 2012 7:55:26 AM Ignore doctorindyj Report Abuse Beware the changing narrative.
BburgCW Champion Author Virginia Posts:2,763 Points:1,202,635 Joined:Jun 2009	Message Posted: Aug 10, 2012 6:23:31 AM Ignore BburgCW Report Abuse Great news for climate change skeptics!
BurntOrange Champion Author Austin Posts:8,870 Points:1,608,765 Joined:Nov 2007	Message Posted: Aug 10, 2012 6:18:35 AM Ignore BurntOrange Report Abuse These prediction articles - always just so darn accurate. :)
merlinCO Champion Author Colorado Posts:1,770 Points:367,145 Joined:Mar 2012	Message Posted: Aug 10, 2012 6:02:59 AM Ignore merlinCO Report Abuse Price fixing and nothing to do with supply and demand.
eschroth442 Champion Author Cleveland Posts:1,191 Points:356,915 Joined:Nov 2011	Message Posted: Aug 10, 2012 6:02:04 AM Ignore eschroth442 Report Abuse will pries go down? NO
CobraJ Champion Author Tampa Posts:1,012 Points:377,265 Joined:Mar 2011	Message Posted: Aug 10, 2012 5:47:06 AM Ignore CobraJ Report Abuse And what does all this mean to the consumer? Absolutely nothing. Those idiot speculators will continue to react to negative news around the world and use that as an excuse to keep oil and gasoline ridiculously overpriced.
Xavier80 Champion Author Victoria Posts:1,902 Points:400,945 Joined:Apr 2012	Message Posted: Aug 10, 2012 5:35:13 AM Ignore Xavier80 Report Abuse ok
gbs1 Champion Author Minnesota Posts:2,131 Points:768,350 Joined:Mar 2011	Message Posted: Aug 10, 2012 5:29:56 AM Ignore gbs1 Report Abuse As much as we complain about oil, we still need it until the next generation fuel source is developed
steben11 Veteran Author Montreal Posts:382 Points:493,665 Joined:May 2011	Message Posted: Aug 10, 2012 5:26:00 AM Ignore steben11 Report Abuse All hé reason us good to keep thé price hi and you have speculation
batloverNM Champion Author Albuquerque Posts:3,947 Points:1,394,800 Joined:Oct 2007	Message Posted: Aug 10, 2012 5:20:36 AM Ignore batloverNM Report Abuse The oil will be harder to extract and more expensive.
scu227 Champion Author New Haven Posts:4,298 Points:797,630 Joined:Feb 2011	Message Posted: Aug 10, 2012 5:14:22 AM Ignore scu227 Report Abuse If it is true, they will hide it for as long as possible to keep prices high.
doeslayersr Champion Author Illinois Posts:9,292 Points:897,755 Joined:Dec 2010	Message Posted: Aug 10, 2012 5:08:52 AM Ignore doeslayersr Report Abuse We need to explore, drill, extract and refine everywhere we can onshore and offshore of this great Republic.
sabre75 Champion Author Florida Posts:1,663 Points:340,795 Joined:May 2012	Message Posted: Aug 10, 2012 5:08:11 AM Ignore sabre75 Report Abuse Good info...
hunter86 Champion Author Kansas Posts:1,381 Points:586,445 Joined:Nov 2010	Message Posted: Aug 10, 2012 5:06:05 AM Ignore hunter86 Report Abuse Agree with GingoutMD
humblepie Champion Author Toledo Posts:35,260 Points:2,397,120 Joined:Mar 2006	Message Posted: Aug 10, 2012 5:03:53 AM Ignore humblepie Report Abuse total nonsense
GingoutMD Champion Author Maryland Posts:3,495 Points:713,305 Joined:Jan 2010	Message Posted: Aug 10, 2012 4:59:37 AM Ignore GingoutMD Report Abuse If what this article states is true... "could lead to a fall, or even a “collapse,” in prices", then we should see a large decrease in gas prices at the pump. However, those in control of that oil will keep the production/refining on a short leash to keep the prices at the pump high. They would never sacrifice profit for excess supply.
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Aug 10, 2012 4:59:35 AM Ignore gandalfthegrey1 Report Abuse And, like it or not, now is a perfect time for this country to take advantage of its resources. If we don't we'll only hurt ourselves. Either way oil is not going away.