The Fall of U.S. Fracking?



Comments (23)

  1. Phillipe says:

    They (the Saudis) claim to be our friends, but want to ruin American companies. Those Arabs are not our friends, nor is any other Islamic country. The book they live by is a 7th century POS.

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    Marc Reply:

    And the book we live by is a 4th Century POS written by the Catholic Pedophile Church.

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    Bestoink Dooley Reply:

    The Saudis are just looking after their own interests. Capitalism is about competition, not friendship. Why shouldn’t they try to shut down the competition? That’s what all businesses do.

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    Steven Reply:

    It is free enterprise that we should practice not Capitalism. Competition is not to run off the players, it is to play by the rules and win by putting up the most points. If you played football by destorying all of your competition so there are no teams willing to play but yours, then no one would show up to watch you play. Free Enterprise is the exercise of following your dream while everyone else follows their’s, and all are lifted because of it.

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  2. Harry Dee says:

    The Saudis have been playing games for the past several decades. Being the no.1 in oil, they seem to nurture that the world will play according to their tunes.

    But there is always an end to every game. Money should not be considered more than the brain! Somebody should tell them.

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    eddie Reply:

    Americans need to understand this truth as well, Harry…

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  3. Mustosheer says:

    The elimination of Saudi Monarch will do it all. U.S. and Iran should invest in South Eastern Saudi Arabia, Shia region, in order to topple the Saudi Regime. All they need is directions from both Iran and USA.

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    vernony Reply:

    We don’t want another war out there, thanks. Nor do we want any more western attempts to impose western style democracy upon the Arabs. The British were in Arabia for 120 years and they found that the mixture of religion and politics there did not lend itself to democracy. They appointed strong leaders and maybe a few people did die, but not nearly so many that would have done in futile messing around trying to introduce democracy. Let the Arabs be. Eventually they will find their way, but we are killing far more people than ever could be saved by democracy.

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  4. Jerome from Layton says:

    This isn’t the first time that OPEC attacked a US industry. Back in the Seventies, US Syncorp was formed to convert coal or other organic sources to liquid fuel via the Fischer-Trope process. About $2Billion was invested in the project that tanked when OPEC dropped the oil price well below the synthetic break-even price. That was about the same time gas prices fell about 50% in the Eighties.

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  5. Neal Watt says:

    So we pump the Saudis dry.

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  6. mike says:

    The cost of fracking to our country will be far greater in the long run when we contaminate our water and air. Countless studies are finally coming out that prove that communities around fracking are suffering health consequences, as well as their livestock. We need renewable energy now and stop playing the fossil fuel death game. Why do people still want to be in the grips of the oil and gas industry? Go solar!

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    Mark Reply:

    Bull crap. The government did countless studies and have not proven any such thing. Fracking has been happening since the 40’s and all of a sudden is a bad thing. It has not infected any water. Proof please.

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  7. JANK says:

    I hope that the price slips below $10 a barrel.
    Oil pricing is a SCAM that is NOT driven by supply and demand.
    The market is rigged, folks.

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    Kit Eakle Reply:

    And it NEEDS to be rigged to save us from all the environmental damage it creates. The truth is the REAL cost of oil is many TIMES the amount our government subsidized oil companies are currently paying to produce oil. In that light there is nothing RIGGED about it. The Oil companies and especially saudi Arabia are RIGGING the game by ignoring the rising environmental costs of burning oil.

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  8. Mick McNulty says:

    Like somebody once said, “If you think the economy is more important than the environment try holding your breath while you count your money.”

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  9. vernony says:

    I am afraid that King Oil has had his day. There is now serious competition for oil. Although, OPEC may play games to try to force fracking out of business, but at the end of the day energy security is what nations really crave. In effect, Shale will be regarded as a strategic resource within each country, so governments are unlikely to let it fail in the long term.

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  10. gmathol says:

    Fracking or tar sands won’t work. Those producers need a sky-high oil price at least at $160 a barrel.

    By the way, consumption and demand is way down. If there would be, for example, a natural gas boom, why is it so hard to get this stuff in the U.S.?

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    Mark Reply:

    Oilsands can go as low as $20.00 per barrel, so quit typing lies.

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  11. Yusuf says:

    Problem is not just weak oil price. More important problem is how long this low price will stand?! Because we are going to have new world crisis. In time of recession lot of money (dollars) is pumped in world economy. Huge numbers of U.S. dollars is now in the hands of China and other brick nations. And for more than 70 years all world nations need dollars just to buy oil, because dollars are only currency with which you can buy oil. When price is low for a period of time more then one year, a lot of dollars are freed on world market, and they will start to go back in U.S. That can cause inflation in U.S. economy – that is huge problem not just for Americans but for all world.

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  12. TheDon says:

    I don’t see what the issue is. Saudis have a dominance in an area and are creating a barrier to entry by lowering the cost. It is capitalism at its finest.

    The great thing about Capitalism, though, is that this will just force USA companies to work on being more innovative.

    I think the U.S. and Saudi both know fracking cannot be stopped. They are just slowing it down.

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  13. Rey says:

    There’s enough oil in the tar sands to supply North America for many many years. Let the Muslims keep their oil. Develop ours.

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  14. Mark from Texas says:

    It is irresponsible and sensationalistic journalism, and just plain wrong, to imply that Saudi Arabia caused the decrease in oil prices. Oil prices have dropped due to the combination of increased supply (largely caused by US fracking) and decreasing demand in Europe and Asia due to their weak economies. All OPEC did was decide not to cut *their* production to prop up prices. The US has the exact same option to cut production to prop up prices. So why does the author blame Saudi Arabia instead of the US?

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    Mark Reply:

    Don’t worry, they are, because they can’t frack oil at less than $65.00 a barrel. Yes, OPEC is taking as many down as they can. They produce a lot more oil than any other country. They have the market including in US and Canada. They of all people would hate to see the pipeline built in Canada.

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