Hail Shale
Old Texas Oil Fields Boom Anew
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  • Duperray

    It is a good new for everybody, less money reaching Middle East suppliers means less money to terrorists.

  • Fat_Man

    If the Shia Sunni war escalates any further, it might result in a closure of the Straits of Hormuz. In that event oil would double in price. It would devastate the EU, China, and Japan. But the US would be OK. Oil producing states would prosper at the expense of oil consuming states like NY and CA. It would be a severe test of their environmentalist religion and their desire to keep men from wounding their mother goddess, Gaea.

    • rheddles

      The US would not prosper if the price of oil doubled. It would cause an enormous recession. And oil producing states would not necessarily benefit. The boom they are currently experiencing would grow even greater and booms are inevitably followed by busts.

      • Fat_Man

        Better to have boomed and busted than never to have boomed at all.

      • Fat_Man

        I think that a deep recession that afflicts the Bos-Wash and CA would be a good thing. They have sucked up too much of the nations prosperity and the time has come to redress the balance.

  • Josephbleau

    Every played out oil well ever drilled from 1860 on in Pennsylvania to Ohio, Ill, KY, OK KS LA TX NM UT CA CO and Canada and Mexico is waiting for enhanced secondary recovery. Add the shale plays and supply will not bust for a looong time. Price will fluctuate a bit within a more stable market. Add gas and I predict a movement of medium and heavy industry to the US that will actually create good low and high skill middle class jobs at the expense of the EU and China. Labor and energy are equally summed in final cost. Once the people in the US who need to work get a taste of this ( they can get a bass boat and send the kids to school) the trust babies and “intellectuals” will not be able to hold the poor back anymore, Gaia’s needs not withstanding.

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