USA now #1 oil producer

TheWarrior · Post by **TheWarrior** » Fri Jan 04, 2019 6:16 pm

Johnsell50 wrote: ↑Fri Jan 04, 2019 4:34 pm Sorry I took the other thread off topic but as of about a month ago we became the #1 oil producer in the world.
here is a leftover from the other thread.
Johnsell50 wrote: ↑
Fri Jan 04, 2019 2:13 am
US still has massive underground reserves of non-shale oil they are just developing. New fields just found that are supposed to be larger than Arab countries just in Texas.
Again, source? I did read they found additional reserve in the Permian Basin region, and somewhat large but nothing near the magnitude of what you seem to have read.

Either way I wouldn't put much stock in such oil exploration announcements. Could be shady people trying to spur investment and increase land prices. Brazil reported massive offshore oil reserves long ago that have yet to materialize and so has Cambodia. Some formations cost well over $100 a barrel to extract.

Sources:

https://oilprice.com/Energy/Energy-Gene ... Basin.html
https://seekingalpha.com/article/418626 ... ounts-2020
https://www.oilandgas360.com/two-new-re ... -in-texas/
https://www.cnbc.com/2016/07/05/us-oil- ... ussia.html

And to answer the other question of why Germany should buy oil and natural gas from the USA instead of Russia is because if they become dependent on Russia for such a necessary item it could cost them in the future. Better to buy from an ally.

Ok Can anybody anybody say 200 usd/barrel is coming SOOOOOOOOOOOON.
P.S. I forgot the other thing. Russia major source of income is OIL. Now Putin is already piss on USA sanctions. What do you think will happen when USA will try to close the market for Russian Oil??? All i'm saying dont open the champagne too early.

Johnsell50 · Post by **Johnsell50** » Fri Jan 04, 2019 6:29 pm

The answer:
https://www.brighthubengineering.com/ma ... es-by-sea/
https://lngexports.com/#/?section=what-is-lng
Yes, more ships will need to be built as demand increases so will the shipbuilding.

I know a lot of the EU are angry with a lot of Trumps policies but if the shoe were on the other foot and it was your country he was trying to protect the interests of I think the tune would change. Trust me we have plenty of haters here but only because he is trying to stop the giveaways to freeloaders.

Johnsell50 · Post by **Johnsell50** » Fri Jan 04, 2019 6:34 pm

"Ok Can anybody anybody say 200 usd/barrel is coming SOOOOOOOOOOOON.
P.S. I forgot the other thing. Russia major source of income is OIL. Now Putin is already piss on USA sanctions. What do you think will happen when USA will try to close the market for Russian Oil??? All i'm saying dont open the champagne too early."

The last I checked it was at $50 a barrel and going down. As the new refineries and pipelines are built and ports upgraded to handle larger amounts, along with talks of having a new port opened up, prices will decrease. You won't see $200 a barrel for many moons to come.

TheWarrior · Post by **TheWarrior** » Fri Jan 04, 2019 6:37 pm

Johnsell50 wrote: ↑Fri Jan 04, 2019 6:34 pm "Ok Can anybody anybody say 200 usd/barrel is coming SOOOOOOOOOOOON.
P.S. I forgot the other thing. Russia major source of income is OIL. Now Putin is already piss on USA sanctions. What do you think will happen when USA will try to close the market for Russian Oil??? All i'm saying dont open the champagne too early."

The last I checked it was at $50 a barrel and going down. As the new refineries and pipelines are built and ports upgraded to handle larger amounts, along with talks of having a new port opened up, prices will decrease. You won't see $200 a barrel for many moons to come.

Maybe not months. But give it 2-5 years.
P.S.
Yeah following the logic you would think the price would go down. But then again I think 200 usd has more profit margin then 50 usd dont you think??? But what should I know anyway.

Johnsell50 · Post by **Johnsell50** » Fri Jan 04, 2019 6:50 pm

The USA will do it's very best to get, and keep, the prices as low as possible because it is in the country's best interest. Already one country has left OPEC. I expect more to follow so their treasuries are kept healthy.

TheWarrior · Post by **TheWarrior** » Fri Jan 04, 2019 6:55 pm

Johnsell50 wrote: ↑Fri Jan 04, 2019 6:50 pm The USA will do it's very best to get, and keep, the prices as low as possible because it is in the country's best interest. Already one country has left OPEC. I expect more to follow so their treasuries are kept healthy.

ok. What ever you think

YouTube · Post by **General Mackevili** » Fri Jan 04, 2019 6:56 pm

I don't think we'll even see $100 in the next 2 years. My guess is that it will hover in the range of $40-70 for the next 2-5 years.

Post by **Clutch Cargo** » Fri Jan 04, 2019 7:22 pm

Johnsell50 wrote: ↑Fri Jan 04, 2019 6:50 pm The USA will do it's very best to get, and keep, the prices as low as possible because it is in the country's best interest. Already one country has left OPEC. I expect more to follow so their treasuries are kept healthy.

Yep, keep those arab oil producers in check.. Less power for Saudis, Russians, Iranians, Iraqis, Venezuelans..

Johnsell50 · Post by **Johnsell50** » Sat Jan 05, 2019 3:33 am

clutchcargo wrote: ↑Fri Jan 04, 2019 7:22 pm
Johnsell50 wrote: ↑Fri Jan 04, 2019 6:50 pm The USA will do it's very best to get, and keep, the prices as low as possible because it is in the country's best interest. Already one country has left OPEC. I expect more to follow so their treasuries are kept healthy.
Yep, keep those arab oil producers in check.. Less power for Saudis, Russians, Iranians, Iraqis, Venezuelans..

That's the Idea. anytime they have less power it is better for the rest of the world. Thanks.

Anthony's Weiner · Post by **Anthony's Weiner** » Sat Jan 05, 2019 4:48 am

Johnsell50 wrote: ↑Fri Jan 04, 2019 4:34 pm Sorry I took the other thread off topic but as of about a month ago we became the #1 oil producer in the world.
here is a leftover from the other thread.
Johnsell50 wrote: ↑
Fri Jan 04, 2019 2:13 am
US still has massive underground reserves of non-shale oil they are just developing. New fields just found that are supposed to be larger than Arab countries just in Texas.
Again, source? I did read they found additional reserve in the Permian Basin region, and somewhat large but nothing near the magnitude of what you seem to have read.

Either way I wouldn't put much stock in such oil exploration announcements. Could be shady people trying to spur investment and increase land prices. Brazil reported massive offshore oil reserves long ago that have yet to materialize and so has Cambodia. Some formations cost well over $100 a barrel to extract.

Sources:

https://oilprice.com/Energy/Energy-Gene ... Basin.html
https://seekingalpha.com/article/418626 ... ounts-2020
https://www.oilandgas360.com/two-new-re ... -in-texas/
https://www.cnbc.com/2016/07/05/us-oil- ... ussia.html

And to answer the other question of why Germany should buy oil and natural gas from the USA instead of Russia is because if they become dependent on Russia for such a necessary item it could cost them in the future. Better to buy from an ally.

Trump's America has pissed on all it's allies, denigrated them and treated them with less courtesy than Trump treats Russia, Saudi Arabia and North Korea. Trump has destroyed what ever goodwill other nations had for the USA and his supporters are proud of his antics. The Ugly American stereotype of the past has been replaced with a real life narcissistic buffoon who speaks of himself in the third person.

USA now #1 oil producer

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