"And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."
Oil has its price determined internationally. That the US gets around a couple of million barrels per day from Canada is meaningless as the demand for oil is increasing in places like China, India, Brazil etc.
Combined with the potential for a very real shortage of oil if Iran is attacked, and the price of oil in the US and throughout the world, will go up drastically
Also the vast majority of US oil comes from the US, and oil production in the US has been increasing over the last few years not decreasing if I recall correctly.
Take Iranian oil off the international market, and the price of oil will increase drastically. If Iran in response to an attack on it, decides to take out Saudi arabian oil export facilities and the world will enter a deep depression
Conservatives believe the government is incompetent, and seek to elect people who will prove it
Ignorance is Bliss Bliss is the same as happiness US Christian conservatives are the happiest in the US according to studies Do you see a connection?
But i disagree with the deep depression reference in the event that war ravages middle east refining and exporting capabilities. Yes, we will surly be hit by a stagflation, but the incentive for the international community to quickly rebound from such a scenario will be at an all time high. If Iran makes such a strategic attack, they will essentially have declared war on every nation that is oil dependent. A global coalition would quickly disarm Iran's military capabilities, and rebuild needed oil infrastructure as fast is humanly possible. Let's just hope it does not come to this.
IMO of course!
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
Build the Keystone pipeline, drill here and drill now, and **** Obama
Tired of elections being between the lesser of two evils.When the debate is lost, slander becomes the tool of the loser. -Socrates
N. American oil output could top 40-year-old peak
North America appears headed for an oil renaissance, with crude production expected to hit an all-time high by 2016, given the current pace of drilling in the U.S. and Canada, according to a study released by an energy research firm this week.
U.S. oil production in areas including West Texas' Permian Basin, South Texas' Eagle Ford shale, and North Dakota's Bakken shale will record a rise of a little over 2 million barrels per day from 2010 to 2016, according to data compiled by Bentek Energy, a Colorado firm that tracks energy infrastructure and production projects.
Canadian crude production is expected to grow by 971,000 barrels per day during the same period, with much of the oil headed for the U.S.
Combined, the U.S. and Canadian oil output will top 11.5 million barrels per day, which is even more than their combined peak in 1972.
Goldman Sachs has estimated the U.S. could move from being the No. 3 oil producer behind Saudi Arabia and Russia to the No. 1 spot by 2017.
(When the ppb is high.. oil companies invest in exploration and rigs.. young men study petroleum engineering... )