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"We estimate that by 2020, the U.S. overall will be the largest hydrocarbon producer in the...

"We estimate that by 2020, the U.S. overall will be the largest hydrocarbon producer in the world," says Robin West, calling shale discoveries the energy equivalent of the fall of the Berlin Wall. Affordable energy from cheap natural gas - an advantage China can't quickly capture - will be key in revitalizing American manufacturing.
Comments (12)
  • Drill baby drill! Another nail in the coffin of the peak oil whackos (who really are peak fossile fuel whackos).
    7 Mar 2012, 10:37 AM Reply Like
  • The Left will have to move into overdrive to try to suppress this positive development.
    7 Mar 2012, 10:42 AM Reply Like
  • This is why the economy has performed so weak under the economically-hostile Obama administration - they refuse to acknowledge the reality that energy such as Nat Gas actually works without govt subsidies, unlike their 'green' pet-projects which are just more failures (synonymous with the current admin).

     

    If we do what works, we can grow our way out of the current economic malaise. Voting anti-business (and therefore anti-jobs/growth) Obama OUT is clearly step one.
    7 Mar 2012, 10:42 AM Reply Like
  • Another Rush anti-American talking point.
    7 Mar 2012, 10:50 AM Reply Like
  • President Obama has been a leader in natural gas and oil drilling, check the record, US production at record highes.
    7 Mar 2012, 10:49 AM Reply Like
  • We all know the record. He is running the EPA as the "Energy Prevention Association".

     

    Keystone anyone? Cap and Trade? "energy prices necessarily skyrocketing"? Blocking fracking, blocking drilling on Federal lands, moratorium on drilling, Energy Secretary Chu wanting European gasoline prices, etc.

     

    This is one area where the record is clear - you can blame Bush's policies for the higher energy output.

     

    Terry we would respect him a lot more if he stuck with positions. All of the President's statements are accompanied by expiration dates which get shorter and shorter the closer you get to an election.
    7 Mar 2012, 11:54 AM Reply Like
  • The USA could be 100% energy self sufficient if Obama and the EPA would get their feet off the throats of the energy exploration industry. Obama says he's for an "all of the above" approach to energy, but he's not and everyone can see this. Remember watch what he does, not what he says. His pandering to the environmental lobby and unions will cost him the election this year because these groups can't help bring down the price of gasoline. Just because the drilling is happening now, it doesn't mean it was because of anything he did....it was Bushes fault.
    7 Mar 2012, 11:25 AM Reply Like
  • Wishful thinking, nothing else. I don't see US investing into the natgas infustructure for cars yet but China has already started on LNG plans. Plus, natgas is only cheap because there is no demand. As more countries convert to using LNG the prices will rise. Right now natgas fuel per gallon is at $2 and natgas prices are at historcal lows. As the cost rises it will cost the same as gasoline.
    7 Mar 2012, 12:14 PM Reply Like
  • Hopefully once nat gas starts to catch on as a viable alternative to gasoline, that would relieve the demand for crude oil and bring the price of gas down below $3 a gallon.
    7 Mar 2012, 12:23 PM Reply Like
  • With gas at $2.50/mcf or below, drilling and fracking shale are uneconomical. That's why Chesapeake's stock price has dropped so much despite the myriad of JV agreements entered into with foreign oil/gas companies and the selling of assets. Break even on these shale wells needs pricing above $4.00/mcf. Already seeing a shift of drilling rigs from gas to oil plays. The big short in nat gas drillers is here.
    7 Mar 2012, 01:34 PM Reply Like
  • The US will be the largest hydrocarbon producer in the world by 2020 - unless US technology is used in other parts of the world to increase production; and can anyone say why it will not? Qatar is trying to sell 20 year contracts for LNG before the price falls. They also have 14 operational LNG exporting stations they built to sell LNG to the US. Gazprom had dropped prices 10% after record setting cold. The US exports about 5% of gasoline refined, consumption of gasoline is down 6% and prices are up and refineries are closing because they cannot make a profit.
    The times, they are a changing.
    7 Mar 2012, 01:35 PM Reply Like
  • The refineries that are closing are old, not updated and unable to refine heavy (tar sands) crude.
    7 Mar 2012, 07:39 PM Reply Like
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