GasBuddy Blog

GasBuddy News Article

votes

Report: Fracking's success may deny OPEC power to set oil prices

Bloomberg New -- The success of American drillers in coaxing fossil fuels from shale rock has the potential to boost production so much that it may deny OPEC the power to set global oil and gasoline prices, an intelligence advisory panel concluded.

Rising domestic production from hydraulic fracturing is expanding U.S. supplies, which would shift the balance of power in global energy markets, according to the report by the National Intelligence Council released Thursday. The council, an adviser to the director of national intelligence, publishes a report every four years to aid policymakers' long-term planning.

As the U.S. adds supply, the Organization of Petroleum Exporting Countries' influence over prices would wane, according to the report that echoes previous studies that project benefits from a

Read the Full Article

Submitted Dec 16, 2012 By: WxVette

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Report: Fracking's success may deny OPEC power to set oil prices	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

DrCashFlow Champion Author Massachusetts Posts:7,204 Points:1,654,785 Joined:Jun 2008	Message Posted: Dec 18, 2012 3:21:29 AM Ignore DrCashFlow Report Abuse a game changer
drpepperTX Champion Author Texas Posts:9,159 Points:778,875 Joined:Apr 2011	Message Posted: Dec 17, 2012 8:48:43 AM Ignore drpepperTX Report Abuse "I'm afraid you're barking up the wrong tree, @BCM1. It's not OPEC. " ================= LOL, anybody that thinks OPEC does not control oil prices is delusional.
Radar1992 Champion Author Florida Posts:1,465 Points:337,865 Joined:Dec 2011	Message Posted: Dec 17, 2012 6:38:13 AM Ignore Radar1992 Report Abuse This is AWESOME news....maybe we can bring some of our troops home from the Middle East...
TXryder Champion Author Texas Posts:2,854 Points:460,510 Joined:Jan 2012	Message Posted: Dec 17, 2012 12:16:53 AM Ignore TXryder Report Abuse Oil is power and now apparently North America has enough to tell OPEC where to shove it.
judgemobile Champion Author Ohio Posts:7,705 Points:2,472,635 Joined:Nov 2005	Message Posted: Dec 17, 2012 12:09:12 AM Ignore judgemobile Report Abuse my advice to OPEC ? you have had it--go away !!!
Palantas All-Star Author Indianapolis Posts:805 Points:425,385 Joined:Sep 2011	Message Posted: Dec 17, 2012 12:08:06 AM Ignore Palantas Report Abuse This may prevent wars, though I see it doing nothing for gas prices.
UpSol7 Champion Author Augusta Posts:1,709 Points:784,625 Joined:Sep 2008	Message Posted: Dec 17, 2012 12:08:02 AM Ignore UpSol7 Report Abuse Maybe the OPEC countries could get into exporting pollution clean-up equipment to the fracking countries....
Aviator_Rob Champion Author New York Posts:3,985 Points:440,590 Joined:Mar 2012	Message Posted: Dec 17, 2012 12:05:06 AM Ignore Aviator_Rob Report Abuse Nice joke, @5Golfer8. Since you live in Tucson, you should ask Gabbie Giffords if she thinks it's funny.
Aviator_Rob Champion Author New York Posts:3,985 Points:440,590 Joined:Mar 2012	Message Posted: Dec 17, 2012 12:03:35 AM Ignore Aviator_Rob Report Abuse I see @clermont40miles is back with the same old, tired message. How about coming up with some new bumper sticker slogans? The current crop is pretty tired and uninspiring. "Green is red?" Sure, RED state Republicans only care about the GREEN cash.
JamesCalvin Champion Author Lancaster Posts:3,344 Points:547,255 Joined:Nov 2011	Message Posted: Dec 17, 2012 12:03:17 AM Ignore JamesCalvin Report Abuse HO! - - - - - - HO! - - - - - - - - - HO! [Edited by: JamesCalvin at 12/17/2012 12:04:06 AM EST]
5Golfer8 Champion Author Tucson Posts:2,263 Points:326,925 Joined:Jun 2011	Message Posted: Dec 17, 2012 12:02:50 AM Ignore 5Golfer8 Report Abuse Everyone should walk because vehicles cause more deaths then guns and should be banned.
Aviator_Rob Champion Author New York Posts:3,985 Points:440,590 Joined:Mar 2012	Message Posted: Dec 17, 2012 12:00:15 AM Ignore Aviator_Rob Report Abuse I'm afraid you're barking up the wrong tree, @BCM1. It's not OPEC. It's Big Oil where you should aim your anger. And guess what? They're stronger than ever.
firefly09 Champion Author San Diego Posts:2,613 Points:740,105 Joined:Mar 2009	Message Posted: Dec 16, 2012 11:59:14 PM Ignore firefly09 Report Abuse Good!
Aviator_Rob Champion Author New York Posts:3,985 Points:440,590 Joined:Mar 2012	Message Posted: Dec 16, 2012 11:58:31 PM Ignore Aviator_Rob Report Abuse OPEC is far from dead. Even if we were able to replace all of OPEC's oil supply domestically, China will buy up whatever OPEC is selling. The days of the U.S. being the only big consumer in the market are long gone.
DarthDadJr Champion Author Virginia Posts:7,431 Points:1,546,625 Joined:Jul 2008	Message Posted: Dec 16, 2012 11:58:25 PM Ignore DarthDadJr Report Abuse That would be nice...
nwsynthetics Champion Author Oregon Posts:1,019 Points:354,400 Joined:Dec 2011	Message Posted: Dec 16, 2012 11:56:23 PM Ignore nwsynthetics Report Abuse OPEC, say good bye
qwerty17 Champion Author New Jersey Posts:3,760 Points:1,143,275 Joined:Oct 2009	Message Posted: Dec 16, 2012 11:55:46 PM Ignore qwerty17 Report Abuse opec = scum
jwalkerh Champion Author Louisiana Posts:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Dec 16, 2012 11:55:17 PM Ignore jwalkerh Report Abuse This is indeed good news for the US. This means more jobs at home.
postcard9 All-Star Author Massachusetts Posts:893 Points:528,745 Joined:May 2011	Message Posted: Dec 16, 2012 11:54:55 PM Ignore postcard9 Report Abuse That would be nice.
texashoudini Champion Author Austin Posts:2,680 Points:1,117,200 Joined:Jun 2009	Message Posted: Dec 16, 2012 11:52:29 PM Ignore texashoudini Report Abuse That is very good news. Now maybe we can put the squeeze on them.
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Dec 16, 2012 11:41:13 PM Ignore BCM1 Report Abuse Time to dictate to the jerks who raised the prices and caused the economy to go bad.
johton Champion Author Seattle Posts:1,355 Points:339,090 Joined:Jun 2012	Message Posted: Dec 16, 2012 11:36:58 PM Ignore johton Report Abuse Good, but they'll still set the prices.
BREW9 Champion Author Tampa Posts:1,020 Points:2,939,660 Joined:Jun 2004	Message Posted: Dec 16, 2012 11:36:19 PM Ignore BREW9 Report Abuse good
WIPACKERFAN Champion Author Chicago Posts:8,944 Points:1,871,150 Joined:Aug 2005	Message Posted: Dec 16, 2012 11:35:33 PM Ignore WIPACKERFAN Report Abuse We'll see.
Dragnet Champion Author Arizona Posts:15,548 Points:2,934,510 Joined:Jul 2004	Message Posted: Dec 16, 2012 11:35:16 PM Ignore Dragnet Report Abuse Always some promises. Now who is on first? Maybe the desert will have to start riding economical camels.
RAKARWOWSKI Champion Author Chicago Posts:4,140 Points:848,725 Joined:Jan 2011	Message Posted: Dec 16, 2012 11:34:18 PM Ignore RAKARWOWSKI Report Abuse ok.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Dec 16, 2012 11:34:07 PM Ignore abcdMA Report Abuse good deal
Yonkers111 Champion Author Scranton Posts:8,342 Points:859,135 Joined:Apr 2007	Message Posted: Dec 16, 2012 11:31:31 PM Ignore Yonkers111 Report Abuse It "may" but probably not.
69Bonne Champion Author Gary Posts:1,256 Points:493,350 Joined:Sep 2005	Message Posted: Dec 16, 2012 11:28:04 PM Ignore 69Bonne Report Abuse Will wonder if it really would work.
Rhino8of8 Champion Author Wisconsin Posts:1,341 Points:400,290 Joined:Jan 2012	Message Posted: Dec 16, 2012 11:25:22 PM Ignore Rhino8of8 Report Abuse My question is how long it'll last.
libertyut Champion Author Utah Posts:1,370 Points:298,200 Joined:Mar 2012	Message Posted: Dec 16, 2012 11:24:07 PM Ignore libertyut Report Abuse What kind of cheap expensive gas are you selling. I've lost 5 miles per gallon in the last few months.
clermont40miles Champion Author Cincinnati Posts:10,754 Points:1,799,595 Joined:Apr 2008	Message Posted: Dec 16, 2012 11:23:34 PM Ignore clermont40miles Report Abuse President Barack Obama = barf.
Road-Runner Champion Author Denver Posts:7,067 Points:1,910,115 Joined:May 2004	Message Posted: Dec 16, 2012 11:23:17 PM Ignore Road-Runner Report Abuse Wonderful!
clermont40miles Champion Author Cincinnati Posts:10,754 Points:1,799,595 Joined:Apr 2008	Message Posted: Dec 16, 2012 11:22:48 PM Ignore clermont40miles Report Abuse Let's hope the greenies do not stop this success. Green is red.
blazerbob91 Champion Author Milwaukee Posts:6,279 Points:1,910,020 Joined:Aug 2005	Message Posted: Dec 16, 2012 11:21:13 PM Ignore blazerbob91 Report Abuse Frack OPEC
CiVX Champion Author Oakland Posts:7,146 Points:1,383,385 Joined:Feb 2009	Message Posted: Dec 16, 2012 11:20:26 PM Ignore CiVX Report Abuse OPEC needs to Frack there people like US.
Chas58 Champion Author Detroit Posts:1,102 Points:311,220 Joined:Mar 2011	Message Posted: Dec 16, 2012 11:20:18 PM Ignore Chas58 Report Abuse Mr or Mrs "jrsva" you will note that "wayoung" uses the statements that he does so that he can get credit for writing in the blog. He fails to take the time to READ the blogs he just puts garbage out there and hopes no one notices. [Edited by: Chas58 at 12/16/2012 11:21:28 PM EST]
nimpy Champion Author Indianapolis Posts:8,270 Points:1,727,830 Joined:Oct 2007	Message Posted: Dec 16, 2012 11:19:31 PM Ignore nimpy Report Abuse price will still go up
ILANGE9 Champion Author Illinois Posts:7,754 Points:1,623,925 Joined:Sep 2008	Message Posted: Dec 16, 2012 11:18:48 PM Ignore ILANGE9 Report Abuse Says who???
DrLyon Champion Author Michigan Posts:6,769 Points:1,238,615 Joined:May 2006	Message Posted: Dec 16, 2012 11:17:03 PM Ignore DrLyon Report Abuse So deny...
hmw10284 Champion Author California Posts:1,278 Points:223,950 Joined:Sep 2012	Message Posted: Dec 16, 2012 11:15:08 PM Ignore hmw10284 Report Abuse lets see what happens
jrsva Champion Author Virginia Posts:9,999 Points:1,639,950 Joined:Jan 2006	Message Posted: Dec 16, 2012 11:13:22 PM Ignore jrsva Report Abuse “NoBama will find a way to derail this . . .” Wayoung and the rest of the right-wingers in GB land: President Barack Obama won re-election by a significant margin. He is your president as well as mine and will be for the next 4 years. Now is the time to stop the childish, disparaging word games with his name and pay respect to the Office of the President, even if you do not like its current occupant. The time will come when someone you approve of will hold this office, at which time you will not appreciate this sort of trash talk.
carranco Champion Author Georgia Posts:1,027 Points:270,615 Joined:Dec 2008	Message Posted: Dec 16, 2012 11:12:59 PM Ignore carranco Report Abuse All the more reason to develop our resources.
nomad228 Champion Author Columbus Posts:3,143 Points:580,215 Joined:Feb 2011	Message Posted: Dec 16, 2012 11:10:28 PM Ignore nomad228 Report Abuse if the us was wise they would be stockpiling our resources and still use opec to help control oil prices.while making sure the united states will remain stable.
TheSnowstorm Champion Author Montreal Posts:8,724 Points:1,939,905 Joined:June 2005	Message Posted: Dec 16, 2012 11:10:15 PM Ignore TheSnowstorm Report Abuse There are too many other factors involved in this, least of which are China and India's thirst for crude.
wang91554 Champion Author San Jose Posts:3,305 Points:1,228,610 Joined:May 2009	Message Posted: Dec 16, 2012 11:08:26 PM Ignore wang91554 Report Abuse of course. but babies steps, one at a time...
serrog Champion Author Nova Scotia Posts:5,705 Points:1,539,830 Joined:Oct 2008	Message Posted: Dec 16, 2012 11:06:14 PM Ignore serrog Report Abuse This has dire consequences
mfeldstein Champion Author Ottawa Posts:8,301 Points:1,956,230 Joined:Feb 2007	Message Posted: Dec 16, 2012 11:06:04 PM Ignore mfeldstein Report Abuse wshokie12 ... Couldn't agree more.
Gas4Gore Champion Author Detroit Posts:2,524 Points:444,225 Joined:Jan 2010	Message Posted: Dec 16, 2012 11:05:31 PM Ignore Gas4Gore Report Abuse That is really too bad.
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Dec 16, 2012 11:05:29 PM Ignore wayoung56 Report Abuse NoBama will find a way to derail this, he is OPECs best friend...