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Re:U.S. is now the world’s biggest oil and gas producer by joshuahedlund on Monday October 07, 2013 @09:32AM (#6508084)
Commenters bemoaning US running out of resources sooner or ruining the environment by increasing usage should note that US oil demand has essentially peaked[1] and will likely drop in the coming years due to a variety of factors including demographics and the increasing viability of alternative energy sources (solar power + Tesla et. al.) In this context, the US gas/oil energy boom is a wonderful thing, a last hurrah of cheap energy to supply the economy before the alternatives are finally ready to compete. Furthermore, it's not even bad for the environment in the short term; thanks largely to the natural gas boom replacing the even dirtier coal, US CO2 emissions are at their lowest in 20 years[2] I admit I'm probably a little too optimistic (Edit: fracking may be less than "wonderful"), but even correcting for my bias I strongly suspect it's not nearly as bad as many seem to think.

[1] http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WR... [2] http://content.usatoday.com/communities/ondeadline/post/2012...

Re:U.S. is now the world’s biggest oil and gas producer by _delirium on Monday October 07, 2013 @10:21AM (#6508402)
There's some uncertainty about whether shale-gas is actually better than coal, due to the substantial (but poorly measured) "fugitive gas" losses direct to the atmosphere in gas recovery. This paper estimates that replacing coal with shale-gas leads to about 20% worse greenhouse-gas impact: http://graphics8.nytimes.com/images/blogs/greeninc/Howarth20...

Some commentary on the paper and reactions to it, which concludes mostly that better data would be nice: http://www.realclimate.org/index.php/archives/2011/04/fracki...

Re:U.S. is now the world’s biggest oil and gas producer by SM_MS on Monday October 07, 2013 @01:02PM (#6509566)
This paper is actually the start of a very interesting academic brawl. I've reviewed that paper by Howarth and found it lacking in many ways. Howarth is included in a trio of academics from Cornell University that have become popular in the media for denouncing the increasing use of natural gas, and even suggest that coal is cleaner on a short time scale. Since this initial paper was published there has been a flurry of responses from another academic at Cornell, named Lawrence Cathles. Cathles is also the only geologist in the group, Howarth is a prof of ecology and Ingraffea is a structural engineer. This article sums up the history between Cathles and Howarth. [2] So far Cathles has written at this point two or three papers in response to Howarth's original paper, and one of the later ones is a bit of a scientific smackdown.[1] It concludes that the estimates of fugitive gas emissions are very high and other assumptions are made that badly shift the conclusions against natural gas. The response papers by Cathles are very fun to read and I think they provide a great introduction to the current climate science on natural gas.

[1] http://www.geo.cornell.edu/eas/PeoplePlaces/Faculty/cathles/...

[2] http://energyindepth.org/national/cornell-response-to-cornel...

Re:U.S. is now the world’s biggest oil and gas producer by ChuckMcM on Monday October 07, 2013 @12:13PM (#6509199)
From a public health perspective, unless fracking can be tied to water table contamination in a systemic way (as opposed to in the occasional accidental way) its going to be head and shoulders above Coal, both in the extraction, the processing, and the burning categories.
Re:U.S. is now the world’s biggest oil and gas producer by snowwrestler on Monday October 07, 2013 @12:10PM (#6509179)
A study that was just released found lower values for the amount of methane that escapes than the 2011 study.

http://www.pnas.org/content/early/2013/09/10/1304880110.abst...

Not saying this should end the debate, but it's another data point.

Re:U.S. is now the world’s biggest oil and gas producer by dnissley on Monday October 07, 2013 @11:17AM (#6508741)
Here's a good article[1] on why US oil consumption has declined in recent years.

Basically: Improved vehicle MPG, flat/decreasing VMT [2], decreasing non-highway use of distillate [3], improved industrial efficiency, and a shrinking industrial sector.

[1] - http://www.theoildrum.com/node/9811

[2] - Vehicle Miles Traveled

[3] - http://www.eia.gov/oog/info/twip/twiparch/2013/130227/twippr...

Re:U.S. is now the world’s biggest oil and gas producer by Someone on Monday October 07, 2013 @06:20PM (#6511695)
That "shrinking industrial sector" without a shrinking consumption probably means that other countries, in particular China, burn oil/gas/nuclear to produce stuff for the USA.

A honest "are the US using less oil" evaluation should include that energy, just like ecological footprint calculations include imports of materials.

Re:U.S. is now the world’s biggest oil and gas producer by wahsd on Monday October 07, 2013 @10:57AM (#6508622)
Sorry, but as much as I want them to succeed too, the "alternative" energies just do not have the capacity to replace the "traditional" fuels. The problem with America is that we have a problem with glut and self-destructive greed, which is why all of our "green" efforts are nothing but window-dressing, facade, and self-delusion while be destroy and consume our way into disaster. There is never any real sacrifice or pain (which comes from withdrawing from pernicious and bad things that feel so good in the short term), especially in things that would actually make a difference.
Re:U.S. is now the world’s biggest oil and gas producer by nsxwolf on Monday October 07, 2013 @11:08AM (#6508700)
Sorry, I am not into sacrifice and pain. Please continue developing energy technologies so that I can live in a house with lights and running water, and have a car that can get me and my family around.
Re:U.S. is now the world’s biggest oil and gas producer by _delirium on Monday October 07, 2013 @12:42PM (#6509427)
It would be nice if there were at least more options for people who actually want to forgo some energy usage to do so. Back when I lived in the U.S., I had to have a car and drive everywhere, because everything was laid out in such a car-oriented manner, and the transit was so bad. I didn't find it enjoyable or convenient, more of a kind of pain. I would've happily taken some of my energy consumption off the road, if there had been a decent alternative, but it was expected that I would burn this gas daily whether I wanted to or not, if I wanted a job anyway.
Re:U.S. is now the world’s biggest oil and gas producer by nsxwolf on Monday October 07, 2013 @10:58PM (#6512760)
Yes, that's kind of how it is here. Unless you live in the handful of cities that have really stellar public transportation, you are a hardcore motorist.
Re:U.S. is now the world’s biggest oil and gas producer by Shivetya on Monday October 07, 2013 @11:50AM (#6509002)
may I ask whom you think is taking the lead in this area? Surely some country must meet this criteria?

What kind of sacrifice or pain? What steps have you done that constitute sacrifice and pain as part of your contribution? Yeah, being trite here, but I rarely find those professing a need for others to give up rarely do so themselves, they have endless levels of justification, usually starting with how smart they are.

Re:U.S. is now the world’s biggest oil and gas producer by geoka9 on Monday October 07, 2013 @01:14PM (#6509666)
Not using a car (not even having one, if it matters), conserving, recycling, buying new stuff minding that it'll eventually end up in the landfill. That kind of thing.

If you live on a farm or in the mountains, it's hard to go without a car. But living in a modern city in a first world country, there's rarely an excuse.

EDIT: also, consider stopping eating so much meat, because it's not sustainable either.

Re:U.S. is now the world’s biggest oil and gas producer by llamataboot on Monday October 07, 2013 @09:39AM (#6508117)
Nearly every prominent climate scientist disagrees strongly with you, and sees the current move towards fracking as climate suicide.
Re:U.S. is now the world’s biggest oil and gas producer by silverlight on Monday October 07, 2013 @09:55AM (#6508219)
I'm sure you have them, but since the parent commenter was nice enough to supply sources for his claims, perhaps you could as well?
Re:U.S. is now the world’s biggest oil and gas producer by coherentpony on Monday October 07, 2013 @10:09AM (#6508308)
Re:U.S. is now the world’s biggest oil and gas producer by jadc on Monday October 07, 2013 @10:23AM (#6508415)
That's a very useful report but where does it support the claim of "the current move towards fracking as climate suicide"?
Re:U.S. is now the world’s biggest oil and gas producer by 3pt14159 on Monday October 07, 2013 @11:39AM (#6508919)
I wasn't able to find anything in there that is specifically about fracking.
Re:U.S. is now the world’s biggest oil and gas producer by marknutter on Monday October 07, 2013 @10:15AM (#6508358)
What's more likely? That we'll convince people to cut their energy consumption in half, or convince people to purchase higher efficiency equipment and slowly move over to cleaner forms of energy as they become available? What's needed in the climate debate is a healthy dose of pragmatism.
Re:U.S. is now the world’s biggest oil and gas producer by mikeash on Monday October 07, 2013 @10:27AM (#6508435)
What do you do when "pragmatism" doesn't produce the results you need?

Maybe convincing people to cut their energy consumption in half isn't in the cards. At the same time, maybe that is what is needed. The universe doesn't have to cooperate to give us pragmatic solutions.

If the "impossible" solution is required, and the "pragmatic" solution isn't sufficient... why should climate scientists advocate for the latter over the former?

Re:U.S. is now the world’s biggest oil and gas producer by marknutter on Monday October 07, 2013 @11:17AM (#6508743)
Why wouldn't pragmatism produce the results needed? Moving over to Nuclear Power would, without a doubt, solve the climate crisis. Granted, it would introduce other challenges, but we're talking about the lesser of two evils here.
Re:U.S. is now the world’s biggest oil and gas producer by mikeash on Monday October 07, 2013 @11:22AM (#6508780)
I don't think a rapid wholesale move to nuclear power is any more pragmatic than a rapid move to cut average per capita energy consumption in half.
Re:U.S. is now the world’s biggest oil and gas producer by marknutter on Monday October 07, 2013 @12:07PM (#6509160)
One solution requires the economy to stall, the other does not. Take your best guess as to which one will have better public support.
Re:U.S. is now the world’s biggest oil and gas producer by mikeash on Monday October 07, 2013 @01:36PM (#6509817)
Is there a point to ranking impractical solutions?
Re:U.S. is now the world’s biggest oil and gas producer by marknutter on Monday October 07, 2013 @04:26PM (#6511005)
Impractical, yet exactly what France did..
Re:U.S. is now the world’s biggest oil and gas producer by mikeash on Monday October 07, 2013 @08:37PM (#6512255)
In a different age, when public opinion on nuclear energy was substantially different.
Re:U.S. is now the world’s biggest oil and gas producer by comrade_ogilvy on Monday October 07, 2013 @02:19PM (#6510132)
Well, for one thing, the "impossible" comes with large error bars and thus is difficult to trust, even those trained in the sciences (or, perhaps, ESPECIALLY for those trained in the sciences). At least the pragmatic buys time, if nothing else.
Re:U.S. is now the world’s biggest oil and gas producer by specialist on Monday October 07, 2013 @10:53AM (#6508598)
I have a minority view: Climate change is now in a positive feedback loop (thawing tundra, forests burning, ocean acidification) and ceasing human activity won't stop it.

I believe we need to proactively remove atmospheric CO2. Retool our economy and industrial might for that job.

To do that, we need a strong economy.

I'm not saying more, cheaper fossil fuels is a good thing. I just think we should play the cards we're dealt (to ourselves).

Re:U.S. is now the world’s biggest oil and gas producer by comrade_ogilvy on Monday October 07, 2013 @02:27PM (#6510190)
I have often wondered if the CO2 is really the most dangerous ecological experiment we are applying to this planet at this point in history. It is, after all, a plant nutrient that eventually goes away over time. 3.5 billion years ago this planet was covered with methane and O2 was a trace poison to most existing life, until plant forms devoured the carbon and farted out O2 we all love. We are doing many kinds of "terraforming" on a planet wide scale, and CO2 is but one example.

But to effectively retool our economy requires a non-CO2 source of abundant power. I am not sure that nuclear as we know it now would fit the bill, because of the various construction and infrastructure costs. Using less is probably more practical then re-inventing nuclear power (iteratively improving nuclear power would still have value).

Re:U.S. is now the world’s biggest oil and gas producer by specialist on Monday October 07, 2013 @05:24PM (#6511381)
Trying to stay positive here, I hope:

- with solar capacity doubling every 30 months (1), once our electricity needs are met, we use excess capacity to produce hydrogen.

- we displace most fossil fuel with a combination of biodiesel (algae), cellulosic ethanol, and hydrogen.

- we clean up all our radioactive waste stockpiles, and generate electricity, with traveling wave reactors.

Re:U.S. is now the world’s biggest oil and gas producer by Xeoncross on Monday October 07, 2013 @11:17AM (#6508746)
Source? I keep hearing this - but only see a small sampling of papers from the large scientific community.
Re:U.S. is now the world’s biggest oil and gas producer by foobarbazqux on Monday October 07, 2013 @09:56AM (#6508221)
I wouldn't say that oil demand has peaked from looking at that graph. I'd say it took a big hit right around the time of the 2008 financial crash and is recovering along with the rest of the economy, or perhaps lagging somewhat.
Re:U.S. is now the world’s biggest oil and gas producer by joshuahedlund on Monday October 07, 2013 @10:07AM (#6508296)
There's definitely a hit from the financial crash, but there's also been no increase since that drop for four straight years, during which the economy has presumably been recovering, albeit slowly; I suspect the decrease in retiring Boomers driving, decrease in new teenagers driving, increase in fuel efficiency, increase in non-driving entertainment like social networks, etc are all outweighing the hundreds of thousands of jobs that have been created since then. The huge growth in electric vehicles in the last 2-3 years[1] is probably to small to have an impact on that graph now, but give it a few more...

[1]http://si.wsj.net/public/resources/images/IV-AA467_ECARS_G_2...

Re:U.S. is now the world’s biggest oil and gas producer by specialist on Monday October 07, 2013 @10:47AM (#6508558)
Historically, GDP has been strongly correlated with fossil fuel consumption.

I've been wondering if that's still true.

Re:U.S. is now the world’s biggest oil and gas producer by alphydan on Monday October 07, 2013 @10:13AM (#6508337)
So the US produces 11 mbpd (million barrels per day) of liquids (oil, gas2liquids, ethanol, biodiesel). However it consumes about 19 mpbd [0]. Unfortunately this is just a bleep because more expensive prices have made fracking (a 30 - 20 year old technology) economical, but the typical decline rates of these fields are extremely high (produces loads the first year, dies out very very quickly thereafter) [1]. In the longer view (5 - 10 yrs) it's a bump in a long,unstoppable and ever more expensive decline [2].

[0] http://www.eia.gov/forecasts/steo/report/us_oil.cfm

[1] http://www.theoildrum.com/node/9506

[2] http://ourfiniteworld.com/2013/10/02/our-oil-problems-are-no...

Re:U.S. is now the world’s biggest oil and gas producer by coldcode on Monday October 07, 2013 @09:59AM (#6508237)
But it costs more to produce here. Most oil wells in Texas for example are now fairly low volume and require a lot of expense to pump. The Saudi wells are so high volume they spend almost nothing to get the oil out. Also the Saudis generally control the output to keep the price high. If they wanted to they could flood the world with oil.

Gas is a different story but currently the price is pretty low compared to oil.

Re:U.S. is now the world’s biggest oil and gas producer by Lagged2Death on Monday October 07, 2013 @12:32PM (#6509356)
The Saudi wells are so high volume they spend almost nothing to get the oil out. Also the Saudis generally control the output to keep the price high. If they wanted to they could flood the world with oil.

This has long been the comforting conventional wisdom, but there have been contrarians. One wrote a book-length argument:

http://www.amazon.com/dp/047173876X

The argument is more-or-less that the Saudis have in fact been struggling just to keep output more-or-less flat. Their ability to open the taps to control prices is a thing of the past. They've made massive capital investments in the field operations, yet despite very high prices and an opportunity to make staggering profits, their output has only changed modestly and has never hit the peaks they've promised in the past (12 million bbl/day, I believe was what they claimed they could do; 7-8 million bbl/day is about all they've ever done lately).

Re:U.S. is now the world’s biggest oil and gas producer by mseebach on Monday October 07, 2013 @01:09PM (#6509634)
Surely if you count the value of not having to pander to the Saudi regime anymore, it can't be that bad.
Re:U.S. is now the world’s biggest oil and gas producer by e13tra on Monday October 07, 2013 @08:46AM (#6507815)
Looks like the new arms race is about digging your own environmental grave.
Re:U.S. is now the world’s biggest oil and gas producer by marknutter on Monday October 07, 2013 @10:18AM (#6508385)
No, it's about the economy. Any alternative energy is going to have to be a drop-in replacement for current energy sources or it will be a complete non-starter (without heavy subsidies). Maybe we should consider finding this drop-in replacement our next moonshot? Or just embrace nuclear power and be done with it.
Re:U.S. is now the world’s biggest oil and gas producer by ck2 on Monday October 07, 2013 @08:48AM (#6507831)
I think the country that is going to win will be biggest exporter of clean water in about two decades.

Meanwhile China makes more solar panels than anyone in the world yet has the most filthy air.

Re:U.S. is now the world’s biggest oil and gas producer by nathan_long on Monday October 07, 2013 @10:16AM (#6508369)
> Meanwhile China makes more solar panels than anyone in the world yet has the most filthy air.

Most overall or per capita? And do they use them?

If the cleaners at Grand Central Station use only twice the cleaning supplies as you do at your house, it's likely to be much dirtier than your house.

Re:U.S. is now the world’s biggest oil and gas producer by maxerickson on Monday October 07, 2013 @09:11AM (#6507961)
If things are that bad, big movements on water and energy markets will influence each other (because you can use energy to purify or desalinate water).
Re:U.S. is now the world’s biggest oil and gas producer by e13tra on Monday October 07, 2013 @09:12AM (#6507973)
I don't think this is something that can be won, really, other than in a politics and power influence sense. Not to take analogies to where they oversimplify things, but this is similar to M.A.D.; we share the damage we do, locally, then globally. For us, the shortcut to energy production is in the industry already in place (with its centuries-old history and political power). Until that shifts, we'll keep going the same direction and worry about long term when we have to. Solar energy production is still in its infancy when you compare it to fossil fuels production, in China or anywhere else. I suspect the high output of actual solar panels are more (or just as much) a symptom of market than environmental concerns.
Re:U.S. is now the world’s biggest oil and gas producer by dominotw on Monday October 07, 2013 @09:00AM (#6507889)
Re:U.S. is now the world’s biggest oil and gas producer by njharman on Monday October 07, 2013 @09:37AM (#6508109)
Check out Canada's share of the world's fresh water sometime...
Re:U.S. is now the world’s biggest oil and gas producer by jhatax on Monday October 07, 2013 @10:05AM (#6508278)
I wonder what prevents the use of "salt water" for fracking? We have an abundant supply of that resource; maybe prevents the oceans from rising too! (I am joking)
Re:U.S. is now the world’s biggest oil and gas producer by jadc on Monday October 07, 2013 @10:30AM (#6508451)
Based on a quick read of [1], it seems that using saline water is more expensive because of the preparation that is needed, so for now, it is easier to start with fresh water and add additives.

Also seems the consideration is about saline aquifers and not ocean water. I suspect the cost of transporting ocean water is the issue leading to this consideration.

[1] http://www.theglobeandmail.com/report-on-business/breakthrou...

Re:U.S. is now the world’s biggest oil and gas producer by hannibal5 on Monday October 07, 2013 @09:31AM (#6508077)
If we want to limit climate change to +2°C, we must leave 80% of hydrocarbons into the ground. This option is not showing in the prices of energy companies. It's just not going to happen.
Re:U.S. is now the world’s biggest oil and gas producer by devilsadvocate9 on Monday October 07, 2013 @10:54AM (#6508605)
The good news is that so far climate models have all been dramatically wrong in their predictions of global mean temperature, and that all of them have erred on the high side. It's striking how little knowledge climate activists have of relevant evidence.

[1] http://www.economist.com/news/science-and-technology/2157446...

[2] http://wattsupwiththat.com/2013/09/16/lomborg-climate-models...

Re:U.S. is now the world’s biggest oil and gas producer by beedogs on Monday October 07, 2013 @09:57AM (#6508223)
Hopefully the demise of our species will be quick and relatively painless, then.
Re:U.S. is now the world’s biggest oil and gas producer by criley2 on Monday October 07, 2013 @10:05AM (#6508280)
It will be bloody and violent and probably the single largest amount of human suffering from a single event in the short history of our civilization.

While it is an oversimplified game, Fate of the World can help show how increasing temperatures puts more energy into global systems resulting in intense storms, droughts, flooding, wildfires, famines, etc, and how that destabilizes regions leading to less effective ability to implement anti-warming policy.

Re:U.S. is now the world’s biggest oil and gas producer by foobarbazqux on Monday October 07, 2013 @10:04AM (#6508266)
On the bright side, forecasters that rely on computer models of massive systems often end up making horribly inaccurate predictions. For example, we usually get tomorrow's weather wrong.
Re:U.S. is now the world’s biggest oil and gas producer by throwaway2048 on Tuesday October 08, 2013 @04:58AM (#6513693)
Being wrong goes both ways
Re:U.S. is now the world’s biggest oil and gas producer by triplesec on Monday October 07, 2013 @08:53AM (#6507858)
Great. So now the US'll just run out relatively sooner than they would have done compared with those guys. WTG short-term thinking with finite resources. Humans are idiots.
Re:U.S. is now the world’s biggest oil and gas producer by seiji on Monday October 07, 2013 @09:21AM (#6508017)
The problem isn't running out of oil. The problem is increased production incentivizing increased usage which drives us over the edge of an irreversible climate catastrofuck.

All the oil is getting extracted out of the ground and (at utilization time) getting pumped into the air. It's the exact opposite of what we need to be doing now.

Re:U.S. is now the world’s biggest oil and gas producer by triplesec on Monday October 07, 2013 @07:19PM (#6511999)
Agreed. slower use f these things and encouraging alternative energies earlier (while understanding population control) would have kept this less of a clusterfkc. However, humans != long-term political planning.
Re:U.S. is now the world’s biggest oil and gas producer by throwaway9848 on Monday October 07, 2013 @09:24AM (#6508036)
They are both problems...
Re:U.S. is now the world’s biggest oil and gas producer by hrjet on Monday October 07, 2013 @09:34AM (#6508092)
Exactly. I would have loved to see an overlay of consumption over production in the article.
Re:U.S. is now the world’s biggest oil and gas producer by bsullivan01 on Monday October 07, 2013 @09:02AM (#6507895)
WTG short-term thinking with finite resources. Humans are idiots.

Shale and gas is added to the thinking probably, enviro issues and all. Finite but it lasts 100+ years...

Re:U.S. is now the world’s biggest oil and gas producer by astrodust on Monday October 07, 2013 @01:48PM (#6509906)
A hundred years might seem like a long time, but in terms of civilization it's the blink of an eye.

Even on a human scale it's not that long. There are people alive today who are one or two degrees away from significant historical events. "Human wormholes" (http://www.npr.org/blogs/krulwich/2012/02/07/146534518/raspu...) if you will.

There were some US civil war widows still alive in the 21st century. Think about that next time you think a 100 year supply is a lot.

Re:U.S. is now the world’s biggest oil and gas producer by atlanticus on Monday October 07, 2013 @01:57PM (#6509965)
A hundred years is an eternity in terms of current technological advancement. We only learned the universe is accelerating its expansion in 1997. Think about that next time you think a 100 year supply is tiny.
Re:U.S. is now the world’s biggest oil and gas producer by astrodust on Monday October 07, 2013 @02:02PM (#6509996)
They say Americans should learn that 100 years is not a long time just as Europeans should learn that 100 miles it not a long distance.

What if we were in year 95 of the 100 year supply? How would you feel then?

Re:U.S. is now the world’s biggest oil and gas producer by comrade_ogilvy on Monday October 07, 2013 @04:35PM (#6511063)
It does not work that way. The finite Easy Oil is the proverbial tip of the iceberg. The price point just trends upwards after the relatively easy material is successfully mined/drilled -- there is plenty more, it is just harder and harder to get to.

There is a small amount of oil that can be pumped at less than $10 per barrel. There is a moderate amount of oil that can be pumped at $20 per barrel, and that will disappear in the foreseeable future. At $50 per barrel, there is a lot of fossil fuel material. At $100 per barrel, there is vastly more. At $200 per barrel, we do not know because no one will care until the 23rd century, but the problem will probably be the environmental damage, not the availability.

Re:U.S. is now the world’s biggest oil and gas producer by atlanticus on Monday October 07, 2013 @02:26PM (#6510185)
Even in five years their will be amazing technological advances, but the question was 100 years. Goal post moving aside, I would be highly surprised if in 100 years energy is not mostly a solved problem. But doom is more dramatic and sells more advertising.
Re:U.S. is now the world’s biggest oil and gas producer by astrodust on Monday October 07, 2013 @04:41PM (#6511101)
Optimism is great, but we need to plan for the worst, too. The environmental costs for fracking could be unbelievably bad.

Fresh water's one of those resources that's going to become dangerously scarce if we don't manage it properly, and fracking, like oil sands, uses staggeringly large amounts of it. Maybe there's 100 years worth of gas down there, but can we pump water loaded with who knows what chemicals (proprietary mixture, of course) down there for a hundred years to get it out?

Plus, what's a 100 year supply at today's consumption rate could quickly become a 50 year supply if consumption doubles, or 25 years if consumption quadruples. Why would consumption jump so much? What if cars started running on liquified natural gas instead of gasoline? What if power plants switched from nuclear to gas? What if the population grows another 20-30% in the next 25 years?

It's never actually a 100 year supply. Exponential growth will shrink it faster than you think.

Re:U.S. is now the world’s biggest oil and gas producer by guyzero on Monday October 07, 2013 @12:03PM (#6509125)
This should really be "US now produces more oil and gas than Russia OR Saudi Arabia" as the US does not produce more than Russia and Saudi Arabia combined.
Re:U.S. is now the world’s biggest oil and gas producer by devx on Monday October 07, 2013 @09:05AM (#6507913)
Can we end oil subsidies yet? Or have the oil companies not made enough trillions of dollars in profit since they started receiving subsidies a century ago?

I'm all for subsidies to accelerate an emerging market or technology, especially if it's "the future", but for 5-10 years at most, until it becomes mature enough to handle itself. Subsidizing highly profitable companies for a century is beyond stupid, because it also means those companies can be a lot more wasteful, knowing the taxpayers will cover the difference.

I'd ask for an end to Middle East oil-wars, too, but that seems even less likely to happen, so I'll happily take the ending of subsidies for now.

Re:U.S. is now the world’s biggest oil and gas producer by ihsw on Monday October 07, 2013 @09:11AM (#6507964)
Oil subsidies are the only reason the US is an energy production leader, not unlike how corn subsidies are the only reason corn-based ethanol is competitive.

Ending subsidies cannot be done -- it needs to be accomplished as a side-effect of ending political interference. The oil lobby and corn lobby are very powerful.

Re:U.S. is now the world’s biggest oil and gas producer by hrishirc on Monday October 07, 2013 @10:12AM (#6508334)
what's the point of being a production leader? Shouldn't it be left to the free market? The Oil bias is in a sense, hampering innovation in efficiency in oil-consuming machines, notwithstanding effects on other energy sources.

Remember, the great efficiency drive in automobiles started after the Middle East Oil crisis in 1979, if I'm not wrong...

Re:U.S. is now the world’s biggest oil and gas producer by ihsw on Monday October 07, 2013 @10:25AM (#6508429)
The point is control -- look no further than the Carter Doctrine to understand the basis of America's foreign policy in the Middle East.

http://en.wikipedia.org/wiki/Carter_doctrine

It's the reason the US Marines have their own air force -- they don't want someone else second-guessing their decisions.

Re:U.S. is now the world’s biggest oil and gas producer by nazgulnarsil on Monday October 07, 2013 @01:42PM (#6509862)
Thank you for making this point. The economically literate see "price controls" and think "oh no, that is inefficient wrt price! This has been proven." But the point of price control isn't prices, it's control.
Re:U.S. is now the world’s biggest oil and gas producer by ck2 on Monday October 07, 2013 @08:00AM (#6507610)
What I want to know, since we only consume a fraction of it, where is all that money going?

All that profit doesn't seem to be staying inside the US.

Re:U.S. is now the world’s biggest oil and gas producer by maxerickson on Monday October 07, 2013 @08:08AM (#6507638)
What do you mean by a fraction of it?

The U.S. is a net importer of both oil and natural gas:

http://www.eia.gov/dnav/pet/pet_move_wkly_dc_NUS-Z00_mbblpd_...

http://www.eia.gov/dnav/ng/ng_move_ist_a2dcu_nus_a.htm

Re:U.S. is now the world’s biggest oil and gas producer by ck2 on Monday October 07, 2013 @08:43AM (#6507807)
Those numbers are hard to follow but I do not understand why if we produce so much why we don't consume our own content?

For example if the keystone pipeline was approved the majority of it would be for export, not domestic use.

Re:U.S. is now the world’s biggest oil and gas producer by maxerickson on Monday October 07, 2013 @08:59AM (#6507885)
Are you sure the majority of it would be for export?

A big driver of exports is simply the fact that lots of places don't have refinery capacity. People in such places are willing to pay more than people in the U.S., with its relative abundance of refineries.

The rest of the 'not consuming our own content' is just a logistics thing, the cheapest oil is generally used, not the oil that crosses the least borders.

Re:U.S. is now the world’s biggest oil and gas producer by at-fates-hands on Monday October 07, 2013 @10:08AM (#6508303)
>>>> A big driver of exports is simply the fact that lots of places don't have refinery capacity.

I've been harping on this for years. You can produce billions of gallons of oil, but if you can't refine it, it's a loss leader and a big reason why our gas continues to hover around $4.

If we owned the whole cycle from drilling, production, refinement and consumption, it would be huge. Cutting out the refining middle man would save us billions and dramatically reduce the price per gallon. It's just simple supply and demand.

Just in case you wanted to know. .

http://www.eia.gov/tools/faqs/faq.cfm?id=29&t=6

The last refinery was built in 2008. Before that, in 1998. The majority of refineries were built in the 1970's - go figure, when oil was suddenly abundant and post OPEC embargo, very, very cheap.

Re:U.S. is now the world’s biggest oil and gas producer by jfb on Monday October 07, 2013 @10:43AM (#6508532)
For instance, Iran, one of the largest oil producing countries in the world, has to import refined gasoline, diesel, &c., because they lack refinery capacity. This in turn leads to enormous expenditures on subsidies to keep consumers and businesses running. One of the drivers for their nuclear program (setting aside the geopolitics of the bomb) is to reduce the cost of domestic energy production.
Re:U.S. is now the world’s biggest oil and gas producer by maxerickson on Monday October 07, 2013 @10:18PM (#6512618)
The U.S. consumes 8 or 9 million barrels of gasoline per day and imports a net of about 300,000 a day. So there is quite some domestic refinery production there.
Re:U.S. is now the world’s biggest oil and gas producer by cinquemb on Monday October 07, 2013 @09:51AM (#6508193)
Also, what's cheaper than using a currency which you have control over (read: ability to inflate; if one is in the camp that the conglomerate of national/international banks that own shares in the Federal Reserve act in unitarity with the USG) compared to most other countries, to import natural resources? One could call it free (if one doesn't factor the human beings on the other side of the equation...) Sure it can't last forever... but individuals don't last forever either.
Re:U.S. is now the world’s biggest oil and gas producer by justincormack on Monday October 07, 2013 @09:51AM (#6508189)
Because the US consumes even more? The US is by far the biggest consumer. Saudi Arabia and Russia have quite small populations too, but the US is just very energy intensive.
Re:U.S. is now the world’s biggest oil and gas producer by hrishirc on Monday October 07, 2013 @10:07AM (#6508293)
what's the big difference? transport?
Re:U.S. is now the world’s biggest oil and gas producer by xradionut on Monday October 07, 2013 @09:10AM (#6507956)
The profit is flowing to tax havens.
Re:U.S. is now the world’s biggest oil and gas producer by chiph on Monday October 07, 2013 @02:10PM (#6510048)
I'm wondering if this was a strategy on the part of Nixon, Ford & Carter -- make US oil more expensive so that we leave it in the ground and use everyone else's oil, and when that's gone we still have our reserves to draw on.
Re:U.S. is now the world’s biggest oil and gas producer by known on Monday October 07, 2013 @10:15AM (#6508361)
Will US stop importing oil and gas?
Re:U.S. is now the world’s biggest oil and gas producer by ChuckMcM on Monday October 07, 2013 @12:14PM (#6509207)
The US is on track to become a net exporter of natural gas. Is that what you are asking?