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Thread: Oh America didn't became energy self-sufficient after all...

  1. #1

    Default Oh America didn't became energy self-sufficient after all...

    This one is a BIG news. And it is also big bullish news for precious metals investors and very bearish to US economy in general.

    http://www.latimes.com/business/la-f...521-story.html

    According the article US officials have to cut down astounding 96% the estimates for largest US shale oil reservoir. I have known this shale oil boom has been a giant bubble about to burst. I am wondering how the shale oil stocks have/will react to these news.

    Maybe Obama admistration need to relax the economical sanctions to Russia now when they need to go to Putin again to humbly ask for some oil.

  2. #2

    Default

    Quote Originally Posted by MoralHazard View Post
    This one is a BIG news. And it is also big bullish news for precious metals investors and very bearish to US economy in general.

    http://www.latimes.com/business/la-f...521-story.html

    According the article US officials have to cut down astounding 96% the estimates for largest US shale oil reservoir. I have known this shale oil boom has been a giant bubble about to burst. I am wondering how the shale oil stocks have/will react to these news.

    Maybe Obama admistration need to relax the economical sanctions to Russia now when they need to go to Putin again to humbly ask for some oil.
    Can't we just get Obama to give one of his hot air/blow hard teleprompter speeches in front of one of those cool windmills...that should generate enough energy to milk a cow or two

    Couple that with the energy his die-hard followers expel to quench diatribe on the internet and we might be able to light the farmers house for an hour...

    Yeah, that's a great beginning
    Honor for US, Justice for Our Children! Now!

  3. #3

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    You need to continue with your reading. This is big business. Check out Eagle Ford shale, North Dakota and Canadian shale. I live in SOUTH LA. We are booming and have never felt the pain around the country. Check out Piceance Basin, Green river formation and Uintah Basin. All virtually untapped. By the end of next year the US may be the largest producer of oil.

  4. #4

    Default

    Quote Originally Posted by White Tiger View Post
    You need to continue with your reading. This is big business. Check out Eagle Ford shale, North Dakota and Canadian shale. I live in SOUTH LA. We are booming and have never felt the pain around the country. Check out Piceance Basin, Green river formation and Uintah Basin. All virtually untapped. By the end of next year the US may be the largest producer of oil.
    What I don't get is why aren't we just taking the liquid out of the ground instead?

    No need for fluids or anything else...just remove the cap and it'll flow...that's what we discovered up in Alaska some time ago
    Honor for US, Justice for Our Children! Now!

  5. #5

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    I can't believe that some investors where banking on mining in California. Between the politics and bureaucracy one would be lucky to make any kind of money in that state. Especially with a un PC business.

  6. #6

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    NEVER underestimate the L.A. Times' desire, willingness and ability to undermine America.

  7. #7

    Default

    Quote Originally Posted by White Tiger View Post
    You need to continue with your reading. This is big business. Check out Eagle Ford shale, North Dakota and Canadian shale. I live in SOUTH LA. We are booming and have never felt the pain around the country. Check out Piceance Basin, Green river formation and Uintah Basin. All virtually untapped. By the end of next year the US may be the largest producer of oil.
    it isn't there's no big shale oil plays, it just that most of them, and I don't know the exact percentage but I think 70-90% of shale oil reserves, are over hyped. The bakken oil is unique because I don't see it as truly shale oil. However, MSM like to lump the productive bakken oil with the shale oil
    Last edited by yellowsnow; 05-22-2014 at 03:26 AM.

  8. #8

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    If this were a report on the North Dakota fields it would draw concern. As for California...would 'fracking' in that fault area be a good idea?

  9. #9

    Default

    While certainly not good news, this is just one shale formation.
    The answers are in the data

  10. #10

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    Lot of US recovery has been based on this shale oil story. Now they need to find a new one.

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