Scarce Oil? U.S. Has 60 Times More Than Obama Claims

[Mr. H.]

Gas drilling is down becuase the price of nat gas is way down.
Somehow the law of supply and demand works for nat gas but not for oil?
could it be because nat gas cannot be exported easially without liquification, an expensive process?

Yup.
And it's because we import relatively small quantities of natural gas.

 

[chikenwing]

and it will do nothing to drop the price of oil but will just enrich the oil companies.

Of course Obama is a liar so are all the other politicians.
Anyone who promises 2-2.50 gas is also lying.
Bush promised to build more refineries.

provide need jobs,taxes the left loves taxes, more independence,even if the price never drops,at least our money stays at home,needed jobs, oh and needed jobs.

Gas leases were last running around 6k and acre in NE Pa new york has chosen to deprive properties owners of millions and millions of dollars that are badly needed.

Gas drilling is down becuase the price of nat gas is way down.
The nat gas drillers are choosing not to drill.
So if we pay more for nat gas the landowners benefit and the rest of us pay?
Somehow the law of supply and demand works for nat gas but not for oil?
could it be because nat gas cannot be exported easially without liquification, an expensive process?

Its the land owners gas yes you would pay for it how is that hard to figure??

There are many wells still being drilled,and many more ready to be,New york has stopped gas exploration dead,while just over the boarder people are having their lives changed by
gas. Some drillers are moving to wet gas areas because of price drop,and oil is still a supple and demand commodity saying otherwise deifies reality.

If New york lifted the ban drilling would start right now. I live here travel into NE Pa weekly there is a lot going on and New york is missing the train.

 

[Ronalds]

Well These people are paying landowners (predominantly farmers) hundreds of dollars per acre for the right to drill- for shale oil and natural gas liquids. And if a producing well results, those same landowners may very well become millionairs.

 

[Mr. H.]

I couldn't have said that better myself.

 

[editec]

Obama is making claims about the amount of oil in the USA?!



What buffoonery.

Seriously, Jroc, do grow up.

 

[Jroc]

Obama is making claims about the amount of oil in the USA?!



What buffoonery.

Seriously, Jroc, do grow up.

Maybe the demagogue and chief should grow up we need jobs here not in Brazil we need energy production here not overseas we need those dollars here in this country "grow up" indeed...idiot

 

[TShepstone]

You're darned right there is plenty of oil and there is plenty of gas if we just permit it to be explored and developed.