Forum Thread

Bursting gas price bubble.

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  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Will low gas prices increase income gap? Theory: The majority universal goal is to get gas prices high. Environmentalist are hand in hand with OPEC wanting higher gas prices. There is no support for keeping gas prices low. So long term trend will be toward higher gas prices. Multiple petroleum energy companies have downsized or gone out of business. Big money will buy up cheap resources in the same way they do at the bottom of any correction. When gas prices go back up the ownership of resurging companies will be focused into fewer owners???
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Gas prices are low for a variety of reasons. Fracking in the United States and Canada has led to less of a demand for foreign oil from volatile regions. We produce roughly 9.3 million barrels of crude oil per day and roughly 48% of our imported oil comes from Canada and Mexico. The Strategic Petroleum Reserve is also at full capacity.

    Other factors to the low prices is the natural gas boom that has led to drive the price of oil lower and lower. Renewable energy is also making inroads into modern day America, which in turn makes people less reliant on fossil fuels.

    Add all of these together and it's quite easy to understand why gas prices are low. It's a simple issue of supply and demand. Supply is way up and demand is continuing its downward trend.

  • Independent
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    latest stats show production of just under 9 million barrels per day in May, 2016 according to eia.

    eia.gov/dnav/pet/hist/LeafHandler.ashx?...

    rig counts dropped as the price of crude dropped because fracking costs more than traditional drilling

    all in all it matters not. the following two issues are always in play:

    economically recoverable vs technically recoverable and er/ei. of the two the latter is least understood most likely by the general public.

    largest exporter to the u.s. is canada. opec supplies a little over one third of our imports. canada may not be exporting crude but oil equivalents in the form of tar sands.

    eia.gov/dnav/pet/pet_move_impcus_a2_nus...

    the bottom line re: fracking is the service life of oil wells and gas wells is not the same as conventional drilling. i have not seen calculations for the amount of energy expended in fracking including construction, transportation of water, fracking fluids etc. we also do not have much assurance other than their word (and that is not worth much) that fracking is safe.

  • Center Left
    Independent
    Central, FL
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    For the record, I am very against Tar sands. I know the administration prefers dealing with Canadians but it doesn't make that crap any cleaner. I am also 100% against fracking as I believe it pollutes the planet.

    Natural gas is very good. My mother recently said that due to a problem with a bad water pipe, city buses were being diverted down their street. I was surprised because they are smaller residential neighborhoods and those are very large buses (in Columbus, Ohio). She said unlike the past, they're very quiet because they've been converted to run on natural gas. That's a step in the right direction.

  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    TJ Wrote: For the record, I am very against Tar sands. I know the administration prefers dealing with Canadians but it doesn't make that crap any cleaner. I am also 100% against fracking as I believe it pollutes the planet.

    The reason gas prices are so low is due to tar sands and fracking.

    Look. I'm no fan of fossil fuels, but I think we need to give credit to President Obama for taking the long view on this topic.

    He has almost single handily taken us off our reliance of oil from volatile regions and made sure that Congress appropriates billions of dollars in renewable energy programs to wean us off of our addiction to oil.

    That's pretty damn awesome if you ask me.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    lonely bird Wrote:

    latest stats show production of just under 9 million barrels per day in May, 2016 according to eia.

    eia.gov/dnav/pet/hist/LeafHandler.ashx?...

    rig counts dropped as the price of crude dropped because fracking costs more than traditional drilling

    all in all it matters not. the following two issues are always in play:

    economically recoverable vs technically recoverable and er/ei. of the two the latter is least understood most likely by the general public.

    largest exporter to the u.s. is canada. opec supplies a little over one third of our imports. canada may not be exporting crude but oil equivalents in the form of tar sands.

    eia.gov/dnav/pet/pet_move_impcus_a2_nus...

    the bottom line re: fracking is the service life of oil wells and gas wells is not the same as conventional drilling. i have not seen calculations for the amount of energy expended in fracking including construction, transportation of water, fracking fluids etc. we also do not have much assurance other than their word (and that is not worth much) that fracking is safe.

    In the late sixties early seventies they were drilling gas wells in Belmont County Ohio. The wells were all over the place maybe every 4 square miles. Every now and then you would here something like a 747. The word was these were some of the most promising wells ever. When they finished drilling in about two or so years these wells were capped and as far as I know never touched again.
  • Independent
    Ft.myers, FL
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    Jared, not very awesome; in Europe LPG has been used on all, repeat all, busses, trucks, and as well passenger cars for more than 30 years. So we are far behind in that respect as well with our infrastructure and public transportation. Thus don't wave your flag too much.