Interesting chart of US oil drilling

  • tj85016

    Posts: 4123

    Feb 16, 2015 11:19 PM GMT
    Fracking-Bust-425x343.png

    right now, there's so much world oversupply, they don't know what to do with it, some is being stored off-shore on ships

    last week more oil was produced in the U.S. than at any time since the 1970s.

    it's funny when Republicans were calling for "drill, baby, drill" it was the Obama Admin who actually accomplished it
  • tj85016

    Posts: 4123

    Feb 16, 2015 11:35 PM GMT
    ^^

    it probably had a lot to do with technology (horizontal drilling, etc)

    but it is ironic
  • Posted by a hidden member.
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    Feb 16, 2015 11:50 PM GMT
    http://www.factcheck.org/2012/10/obamas-drilling-denials/
  • roadbikeRob

    Posts: 14354

    Feb 17, 2015 12:20 AM GMT
    tj85016 saidFracking-Bust-425x343.png

    right now, there's so much world oversupply, they don't know what to do with it, some is being stored off-shore on ships

    last week more oil was produced in the U.S. than at any time since the 1970s.

    it's funny when Republicans were calling for "drill, baby, drill" it was the Obama Admin who actually accomplished it
    this is valid proof that Obama and the democrats are quietly pro drilling while they lie to the American people about being concerned for the environment and being opposed to hydraulic fracturing. At least the republicans are more honest by having a pro drilling stance in their campaign platform. So we knew where the republicans stood on the issue of oil and gas drilling. On the other hand, the democrats say one thing and after getting elected they do the complete opposite. Go figure.
  • Posted by a hidden member.
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    Feb 17, 2015 3:26 AM GMT
    It's a good thing in my view.

    I like lower oil for many reasons.

    What will make it go up?

    A Nuke attack!

    3rd world war is here!!!
  • Hypertrophile

    Posts: 1021

    Feb 17, 2015 4:17 AM GMT
    What will make oil prices go up? Exactly what I predicted will happen when US increased oil production. Someone else also increased production and lowered prices making oil produced through fracking prohibitively expensive, leading to a decrease in US production, leading to prices going back up. The same thing can be said for the Keystone Pipeline if it gets built. Oil prices will not go down, not permanently, because we've increased production.