$80/bbl

NO we can basically ignore the international rate as I already explained. Transport and refining costs *always* make it cheaper inside the US (and to a lesser degree N. America)

It's easily attainable.

Sustainable has yet to be seen.

We have the capacity to out produce saudi arabia if we really want too.

Yes, but you do NOT cover your full demand through your own production.

Meaning you import abroad.

Meaning it still has an effect.

*"Its totally worth it to keep stickong our dick in the middle east guys, super srs this time."*

We were beginning to export under Obama,

so fucking sick

of this trash

A geologic report I read places over 54 billion barrels under N. Dakota alone.

At 80 a barrel every wildcat in permian, eagleford, and bakken would be shoveling it out like gravy.

If SA cannot close our production due to the strait being closed, then we can sustain it for a while. I don't care if that war happens. We win...

https://www.eia.gov/tools/faqs/faq.php?id=727&t=6

Well, would you look at that.

You're importing oil.

Know what that means? Global prices effect you.

*Who could have guessed.*

Of course we are, it's too cheap not to

this is sheer zealotry. we leave the middle east, end of story.

Fucking Yanks and their shit education.

WE're an exporter genius. As of earlier this year.

We're not a dominant exporter.

At 80 a barrel we would be.

We only import 29% of our oil from opec countries

The Saudis have effectively shut us out because they don't really need to drill for oil. at $80/bbl, we can outproduce SA and Russia like we did in 2016

You have to understand we are currently *intentionally* not fracking most of the formations because there is not enough demand. If the price goes up that changes.

Sorry, 2013.

SA floods the market with cheap oil to keep us happy because oil is their only economic value.

That's why they recently went into debt.

They have everything to lose and we have everything to gain by leaving the middle east and procuring our own oil

They draw their budgets based on oil being over $100/bbl. When that happened, we out produced them.

SA is flooding the market (well maybe *was* now) because they have a lower lifting cost. It was economic warfare against Iran.

It was against the US and Russia while you're joking.

We are more than capable of doing so, your entire argument of "well you import so prices will affect you" doesnt hold water outside the short term, if we truly were to spool up our industry we would be the oil power of the world.

Sorry, I must not have been clear. We leave the middle east. that's it. pass go and collect the vast reinvestment in domestic prosperity.

Our reserves are meant for us to keep up domestic use AND fight a war at the same time

Look up top producers of oil over the last 20 years. Notice that after the US become the #1 producer that SA flooded the market.

We may see a slight bump in price in the short term but it wont last and we certainly wont be as negstively affected as the UK, we learned our lesson in the 70s we prepare for these kinds of things.