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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


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Submitted Dec 16, 2012 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Report: Fracking's success may deny OPEC power to set oil prices Back to Topics
REPLIES (newest first) Post a Reply
DrCashFlow
Champion Author Massachusetts

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Message Posted: Dec 18, 2012 3:21:29 AM

a game changer
drpepperTX
Champion Author Texas

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Message Posted: Dec 17, 2012 8:48:43 AM

"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 Virginia

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Message Posted: Dec 17, 2012 6:38:13 AM

This is AWESOME news....maybe we can bring some of our troops home from the Middle East...
TXryder
Champion Author Texas

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Message Posted: Dec 17, 2012 12:16:53 AM

Oil is power and now apparently North America has enough to tell OPEC where to shove it.
judgemobile
Champion Author Ohio

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Message Posted: Dec 17, 2012 12:09:12 AM

my advice to OPEC ? you have had it--go away !!!
Palantas
All-Star Author Indianapolis

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Message Posted: Dec 17, 2012 12:08:06 AM

This may prevent wars, though I see it doing nothing for gas prices.
UpSol7
Champion Author Augusta

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Message Posted: Dec 17, 2012 12:08:02 AM

Maybe the OPEC countries could get into exporting pollution clean-up equipment to the fracking countries....
Aviator_Rob
Champion Author New York

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Message Posted: Dec 17, 2012 12:05:06 AM

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

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Message Posted: Dec 17, 2012 12:03:35 AM

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

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Message Posted: Dec 17, 2012 12:03:17 AM

HO!
-
-
- - - - HO!
-
-
- - - - - - - HO!

[Edited by: JamesCalvin at 12/17/2012 12:04:06 AM EST]
5Golfer8
Champion Author Tucson

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Message Posted: Dec 17, 2012 12:02:50 AM

Everyone should walk because vehicles cause more deaths then guns and should be banned.
Aviator_Rob
Champion Author New York

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Message Posted: Dec 17, 2012 12:00:15 AM

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

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Message Posted: Dec 16, 2012 11:59:14 PM

Good!
Aviator_Rob
Champion Author New York

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Message Posted: Dec 16, 2012 11:58:31 PM

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

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Message Posted: Dec 16, 2012 11:58:25 PM

That would be nice...
nwsynthetics
Champion Author Oregon

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Message Posted: Dec 16, 2012 11:56:23 PM

OPEC, say good bye
qwerty17
Champion Author New Jersey

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Message Posted: Dec 16, 2012 11:55:46 PM

opec = scum
jwalkerh
Champion Author Louisiana

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Message Posted: Dec 16, 2012 11:55:17 PM

This is indeed good news for the US. This means more jobs at home.
postcard9
Champion Author Massachusetts

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Message Posted: Dec 16, 2012 11:54:55 PM

That would be nice.
texashoudini
Champion Author Austin

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Message Posted: Dec 16, 2012 11:52:29 PM

That is very good news. Now maybe we can put the squeeze on them.
BCM1
Champion Author Pennsylvania

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Message Posted: Dec 16, 2012 11:41:13 PM

Time to dictate to the jerks who raised the prices and caused the economy to go bad.
johton
Champion Author Seattle

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Message Posted: Dec 16, 2012 11:36:58 PM

Good, but they'll still set the prices.
BREW9
Champion Author Tampa

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Message Posted: Dec 16, 2012 11:36:19 PM

good
WIPACKERFAN
Champion Author Chicago

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Message Posted: Dec 16, 2012 11:35:33 PM

We'll see.
Dragnet
Champion Author Arizona

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Message Posted: Dec 16, 2012 11:35:16 PM

Always some promises. Now who is on first? Maybe the desert will have to start riding economical camels.
RAKARWOWSKI
Champion Author Chicago

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Message Posted: Dec 16, 2012 11:34:18 PM

ok.
abcdMA
Champion Author Worcester

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Message Posted: Dec 16, 2012 11:34:07 PM

good deal
Yonkers111
Champion Author Scranton

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Message Posted: Dec 16, 2012 11:31:31 PM

It "may" but probably not.
69Bonne
Champion Author Gary

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Message Posted: Dec 16, 2012 11:28:04 PM

Will wonder if it really would work.
Rhino8of8
Champion Author Wisconsin

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Message Posted: Dec 16, 2012 11:25:22 PM

My question is how long it'll last.
libertyut
Champion Author Utah

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Message Posted: Dec 16, 2012 11:24:07 PM

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

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Message Posted: Dec 16, 2012 11:23:34 PM

President Barack Obama = barf.
Road-Runner
Champion Author Denver

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Message Posted: Dec 16, 2012 11:23:17 PM

Wonderful!
clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 16, 2012 11:22:48 PM

Let's hope the greenies do not stop this success.

Green is red.
blazerbob91
Champion Author Milwaukee

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Message Posted: Dec 16, 2012 11:21:13 PM

Frack OPEC
CiVX
Champion Author Oakland

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Message Posted: Dec 16, 2012 11:20:26 PM

OPEC needs to Frack there people like US.
Chas58
Champion Author Detroit

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Message Posted: Dec 16, 2012 11:20:18 PM

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

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Message Posted: Dec 16, 2012 11:19:31 PM

price will still go up
ILANGE9
Champion Author Illinois

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Message Posted: Dec 16, 2012 11:18:48 PM

Says who???
DrLyon
Champion Author Michigan

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Message Posted: Dec 16, 2012 11:17:03 PM

So deny...
hmw10284
Champion Author California

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Message Posted: Dec 16, 2012 11:15:08 PM

lets see what happens
jrsva
Champion Author Virginia

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Message Posted: Dec 16, 2012 11:13:22 PM

“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

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Message Posted: Dec 16, 2012 11:12:59 PM

All the more reason to develop our resources.
nomad228
Champion Author Columbus

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Message Posted: Dec 16, 2012 11:10:28 PM

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

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Message Posted: Dec 16, 2012 11:10:15 PM

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

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Message Posted: Dec 16, 2012 11:08:26 PM

of course. but babies steps, one at a time...
serrog
Champion Author Nova Scotia

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Message Posted: Dec 16, 2012 11:06:14 PM

This has dire consequences
mfeldstein
Champion Author Ottawa

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Message Posted: Dec 16, 2012 11:06:04 PM

wshokie12 ... Couldn't agree more.
Gas4Gore
Champion Author Detroit

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Message Posted: Dec 16, 2012 11:05:31 PM

That is really too bad.
wayoung56
Champion Author Alabama

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Message Posted: Dec 16, 2012 11:05:29 PM

NoBama will find a way to derail this, he is OPECs best friend...
nomad228
Champion Author Columbus

Posts:3,208
Points:592,275
Joined:Feb 2011
Message Posted: Dec 16, 2012 11:05:02 PM

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.
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