Message from @allgoodguy
Discord ID: 623667126497968189
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...
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.
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.
See when it got high enough for us to start doing shale we did shale and we got *good at it*. We went from bore drilling to pad drilling to multipad drilling. We went from seismic to 3D then 4D seismic. The current lifting costs are half what they were when we started.
And because the SuperMajors are not the only players anymore any rise in price makes a whole host of operators economically viable.
Exactly @Jym.. We will survive the whole thing because our economy absorbs these bumps, and when we can make more profit at things, then we expand technologies making them even more efficient. I don't buy the fear of a price increase, because it will transform the economy, and those price spikes, and eventual moderate growth of inflation is what a strong economy exhibit. Part of the problem we have had over the last 30 years is the drive to internationalism has driven prices down, damn the worker.
That by definition is deflationary, and is what drives economies into depression.