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mugtang

US now a net exporter of oil and fuel.

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This is good news for us.  When you include Oil Shale we have over 2 trillion in reserves.  

https://www.reuters.com/article/us-usa-oil-eia/in-major-shift-us-now-exports-more-oil-than-it-ships-in-idUSKBN1O51X7

thelawlorfaithful, on 31 Dec 2012 - 04:01 AM, said:One of the rules I live by: never underestimate a man in a dandy looking sweater

 

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This is good news, certainly heading in the right direction. That said, it should be a part of our national security strategy to continually find ways to lesson our dependency on oil for things like fueling equipment, energy production, and industrial manufacturing. My hope is that the private sector continually pushes for innovative ways to diversify inputs necessary for vital production and services. Oil will always be in demand as it is required to produce plastics and other goods that most of the people out on the street have no awareness of ... but oil is still a limited resource and it's in our best interest to preserve and use it as efficiently as possible. Lastly, for the better part of a century, oil has been such a vital commodity that wars have been fought and global policy shaped over it. Even today, if some rogue state such as Venezuela has something drastic happen within their borders, the price of crude is affected worldwide. We'd be in a much better place if we weren't so dependent upon this volatile commodity. 

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1 hour ago, sean327 said:

If we can keep this level of production up we may be able to tell the Saudis to go pluck themselves.

Yes. But then I worry about increased political and social instability in the middle east and world wide.

What's going to happen in those places where the sole or primary resource is oil when the bottom drops out of their market?

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2 hours ago, renoskier said:

Yes. But then I worry about increased political and social instability in the middle east and world wide.

What's going to happen in those places where the sole or primary resource is oil when the bottom drops out of their market?

It's hard to imagine that place can get much more unstable than it is, but I agree.

OTOH, it might be the spur to see real change from a tribal to a more democratic structure.

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9 minutes ago, SharkTanked said:

It's hard to imagine that place can get much more unstable than it is, but I agree.

OTOH, it might be the spur to see real change from a tribal to a more democratic structure.

Take oil out of the equation and the world won’t care about violence and instability in the ME anymore than the stuff it turns a blind eye to in Africa.

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5 hours ago, BSUTOP25 said:

This is good news, certainly heading in the right direction. That said, it should be a part of our national security strategy to continually find ways to lesson our dependency on oil for things like fueling equipment, energy production, and industrial manufacturing. My hope is that the private sector continually pushes for innovative ways to diversify inputs necessary for vital production and services. Oil will always be in demand as it is required to produce plastics and other goods that most of the people out of the street have no awareness of ... but oil is still a limited resource and it's in our best interest to preserve and use it as efficiently as possible. Lastly, for the better part of a century, oil has been such a vital commodity that wars have been fought and global policy shaped over it. Even today, if some rogue state such as Venezuela has something drastic happen within their borders, the price of crude is affected worldwide. We'd be in a much better place if we weren't so dependent upon this volatile commodity. 

You sound like a libertarian. I like you. 

There are only two things I can't stand in this world: people who are intolerant of other people's cultures and the Dutch. 

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15 minutes ago, NorCalCoug said:

Take oil out of the equation and the world won’t care about violence and instability in the ME anymore than the stuff it turns a blind eye to in Africa.

Don't know about that. Violence and instability breeds international terrorism. Not sure if they would still have the funding to commit terror acts on the West if oil money is gone though.

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8 hours ago, renoskier said:

Yes. But then I worry about increased political and social instability in the middle east and world wide.

What's going to happen in those places where the sole or primary resource is oil when the bottom drops out of their market?

Who gives a shit. 

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9 hours ago, renoskier said:

Yes. But then I worry about increased political and social instability in the middle east and world wide.

What's going to happen in those places where the sole or primary resource is oil when the bottom drops out of their market?

The filipinos and bengalis that make up ~75% of the people residing in those countries rise up and take over?

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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Guest #1Stunner

This is good news.

Hopefully we can continue to develop electric car technology even more, so that we'll have even less dependence on fossil fuels.

Also like the fact that we have power plants coming on line that use solar and wind.

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Guest #1Stunner
6 hours ago, NorCalCoug said:

Take oil out of the equation and the world won’t care about violence and instability in the ME anymore than the stuff it turns a blind eye to in Africa.

Agree and disagree.

The western world cares about violence and instability in the middle east because it cares about Israel.

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6 hours ago, renoskier said:

The world becomes smaller everyday; then their problems become our problems.

This, the migrant crisis is just the beginning of a new era IMO. As the birth rate of the west continues to decline, while it grows exponentially in Africa and the 3rd world, more and more people will continue to drop everything and move to the US and Europe. 

6 hours ago, #1Stunner said:

Agree and disagree.

The western world cares about violence and instability in the middle east because it cares about Israel.

This is also very true.

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