whighlander
Senior Member
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- Aug 14, 2006
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Re: Green Line to Medford to start in 2011
DomiNos -- I think that there are more than enough motivations to drive the kind of drilling now going on in ND and PA to spread quite widely -- the US is sitting on a huge amount of oil and even more natural gas. Now the technology of exploration and resource recovery has gotten to the point where the vast reserves are able to be tapped at the current price range.
There are two scenarios for the next decade:
1) US drills and pumps its way back to #1 in the world
2) OPEC fears #1 and drops the price to precude economic recovery of much of the oil needed for #1
Either way you look at it -- I'll bet there's a very good change the price of gasoline is back under $2.00 per gallon in the next 5 years or so
There are plenty of particular reasons why we are unlikely to see gas drop to that price. Just as there isn't much political support for hiking up taxes, I don't know if there's enough support for the increase in drilling that would be necessary to outpace the global increase in oil consumption. Unless, of course, we can scale up CNG usage enough to impact crude prices.
DomiNos -- I think that there are more than enough motivations to drive the kind of drilling now going on in ND and PA to spread quite widely -- the US is sitting on a huge amount of oil and even more natural gas. Now the technology of exploration and resource recovery has gotten to the point where the vast reserves are able to be tapped at the current price range.
There are two scenarios for the next decade:
1) US drills and pumps its way back to #1 in the world
2) OPEC fears #1 and drops the price to precude economic recovery of much of the oil needed for #1
Either way you look at it -- I'll bet there's a very good change the price of gasoline is back under $2.00 per gallon in the next 5 years or so