[ExI] A paranormal prediction for the next year

[John Clark]

On Tue, Jan 13, 2015 at 2:31 PM, Dave Sill <sparge at gmail.com> wrote:

>> Explain to her that low gas prices are being caused by fracking with
>> little influence from Obama, and that Jimmy Carter caused Ronald Reagan.
>>
>
>
> Or are the Saudis dropping the price to put fracking, electric cars,
> alternative fuels, etc, out of business so they can jack up petroleum again
> in 6-8 months?
>

The only way the Saudis could drop oil prices is to increase production,
and they haven't done that,  Saudi Arabian oil production renamed constant.
It was the USA that embraced fracking technology like no other country in
the world and as a result oil production in the USA rose by more than half
a million barrels per day between 2007 and 2011 to the highest level in 15
years, and in that same year the USA exported more gasoline and diesel than
it imported for the first time since 1949.  And in 2012 USA oil production
increased by another 760,000 barrels a day, the largest yearly increase
since records about oil production started in 1859. But incredibly 2013
beat even that record, oil production in the United States rose by another
992,000 barrels a day! And in 2014 the USA overtook Saudi Arabia to become
the largest producer of oil on planet Earth, it was already the largest
natural gas producer in the world and has been since 2010.

It seems like just yesterday some people were talking about "peak oil".

  John K Clark









>
> -Dave
>
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