SkyDekker 1,141 #26 January 15, 2015 QuoteWhere do we get most of our imported oil? Canada Another large chunk? Mexico We only get about 15-20% of our imported oil form the Middle East. They are no longer the major player in out world and I like it that way. Those numbers won't last at sub $50 oil. Both countries mentioned cannot sustain profitable extraction and exploration at that rate. So, unless the American consumer is willing to pay more for gas which wasn't derived from middle eastern oil, the US will start getting more and more of its oil from the middle east. Quote Share this post Link to post Share on other sites
rushmc 18 #27 January 15, 2015 Maybe but The industry is predicting icreases in production during 2015 from 9.2M barells a day to 9.3 QuoteOil drilling and production are slowing down, though U.S. companies this year will still pump more oil than they did in 2014. The U.S. Energy Information Administration said Friday it expects declining drilling activity, especially in the second half of the year, due to falling crude oil prices. But existing wells and those that are soon to come online in fields like the Eagle Ford Shale will keep adding to U.S. output. The U.S. is expected to produce around 9.3 million barrels of crude oil daily in 2015, up around 700,000 daily barrels from last year. http://the-daily-digger.blogspot.com/2015/01/us-oil-production-expected-to-increase.html"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
SkyDekker 1,141 #28 January 15, 2015 rushmcMaybe but The industry is predicting icreases in production during 2015 from 9.2M barells a day to 9.3 QuoteOil drilling and production are slowing down, though U.S. companies this year will still pump more oil than they did in 2014. The U.S. Energy Information Administration said Friday it expects declining drilling activity, especially in the second half of the year, due to falling crude oil prices. But existing wells and those that are soon to come online in fields like the Eagle Ford Shale will keep adding to U.S. output. The U.S. is expected to produce around 9.3 million barrels of crude oil daily in 2015, up around 700,000 daily barrels from last year. http://the-daily-digger.blogspot.com/2015/01/us-oil-production-expected-to-increase.html I think it is somewhat common sense that for those wells already producing the cost to extract is signifcantly lower than to start drilling new wells etc. If oil stays below $50 and there is no new magical technology making this oil cheaper to extract, production is going to fall dramatically. Quote Share this post Link to post Share on other sites
rushmc 18 #29 January 15, 2015 I guess you know more than the industry and the feds At least you think you do"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
rehmwa 2 #30 January 15, 2015 IagoConfirmed cynical sarcastic bastard since 2003 There's a confirmation process????? !!!!!!!!!! ... Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants Quote Share this post Link to post Share on other sites
SkyDekker 1,141 #31 January 15, 2015 rushmcI guess you know more than the industry and the feds At least you think you do No, I was agreeing with them. It is natural for output to be higher in 2015 than in 2014, since exploration was greatly ramped up, driven by the high price for oil. Industry like that doesn't just stop on a dime. Quote Share this post Link to post Share on other sites
rehmwa 2 #32 January 15, 2015 SkyDekkerIndustry like that doesn't just stop on a dime. no, but somewhere in there it's very concerned about 9/10ths of a cent.... do they do that any more? ... Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants Quote Share this post Link to post Share on other sites
turtlespeed 212 #33 January 16, 2015 rehmwa***Industry like that doesn't just stop on a dime. no, but somewhere in there it's very concerned about 9/10ths of a cent.... do they do that any more? yesI'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun Quote Share this post Link to post Share on other sites
