Home Discord Chat
Go Back   ChiefsPlanet > Nzoner's Game Room

Reply
 
Thread Tools Display Modes
Old 11-23-2012, 02:11 PM  
Rain Man Rain Man is offline
NFL's #1 Ermines Fan
 
Rain Man's Avatar
 
Join Date: Jul 2001
Location: My house
Casino cash: $3618491
VARSITY
Fracking to lead to a new golden age?

Dunno if this should be in DC or not, but it seems more societal than political. I thought it was interesting and had no idea that fracking would have that big an impact.

I added the bold formatting in places because doing so will draw your attention to it since I think it's interesting.

http://www.cnn.com/2012/11/23/busine...html?hpt=hp_c1

U.S. set for fracking bonanza, says historian Ferguson
By Andrew Stevens, CNN
updated 12:30 PM EST, Fri November 23, 2012

Hong Kong (CNN) -- If there's been one consistent thread running through the U.S. economic story since 2008, it's been the steady drumbeat of gloom.
Outright recession or sub-standard growth, stubbornly high unemployment and fiscal crises have been the topics du jour when it comes to the world's biggest economy.

But now an unlikely champion for U.S. growth under the Obama administration has emerged -- a former adviser to a Republican Party presidential candidate and Harvard history professor, Niall Ferguson, who says America could actually be heading toward a new economic "golden age."

And it has nothing to do with Washington and everything to do with energy.

Ferguson, who is also an author and commentator, believes the production of natural gas and oil from shale formations via a process known as "fracking" -- forcing open rocks by injecting fluid into cracks -- will be a game changer.

"This is an absolutely huge phenomenon with massive implications for the U.S. economy, and I think most people are still a little bit slow to appreciate just how big this is," he said in Hong Kong this week.

"Conceivably it does mean a new golden age."

U.S. energy production has been booming in recent years. The International Energy Agency made a jaw-dropping forecast two weeks ago that the U.S. would pass Saudi Arabia as the world's biggest oil producer by the end of this decade -- and would achieve near energy independence by the 2030s.


That energy boom, asserts Ferguson, will create jobs in the United States.

Lots of jobs.

The energy sector currently supports 1.7 million American jobs directly or indirectly, according to economic forecaster IHS global Insight. That could rise to 3 million by 2020, it says.

"It's not only in the extraction industry and infrastructure, but more importantly cheap energy is going to create employment in manufacturing. I think you'll see a renaissance in manufacturing," said Ferguson.

"That is being helped by the fact U.S. labor costs have been pretty competitive over the past decade, even as labor costs are going up in China."

It is also, he says, a big deal for the dollar. "As the U.S. moves towards energy independence and becoming the biggest producer in the world, the dollar can only benefit. Anybody who thought the financial crisis was going to lead to the demise of the dollar as an international currency is wrong -- it's quite the opposite."

And what of U.S. engagement in the Middle East?

Ferguson says it would be naive to assume that Washington would withdraw in any significant way from the region.

"Nobody is going to step in and take the job of being global policeman in charge of Middle Eastern stability. I think everyone would be nervous, if the Chinese suddenly volunteered to take that job on, which by the way they are not going to do anytime soon," he said.

For the recently reelected U.S. president though, the energy boom looks like it could provide a welcome tailwind for his second term.

It's something that Ferguson acknowledges -- though one suspects through gritted teeth.

As a supporter of Mitt Romney he penned a controversial pre-election cover story in Newsweek headlined "Hit the Road, Barack," which was highly critical of the president's first term.

He concedes the irony that the president will now be the beneficiary of the "good times that lie ahead."
Posts: 141,021
Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 02:59 PM   #16
Pasta Little Brioni Pasta Little Brioni is offline
Consuming CP souls
 

Join Date: Oct 2005
Location: U.S.A.
Casino cash: $4278880
Just put two Great People together. Boom, instant Golden Age.
__________________
****Official TFWdemB Trivia Commisioner****
Posts: 68,024
Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.Pasta Little Brioni is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:01 PM   #17
cdcox cdcox is offline
www.nfl-forecast.com
 
cdcox's Avatar
 

Join Date: Sep 2000
Casino cash: $2591769
Quote:
Originally Posted by Donger View Post
Yes, it is an interesting prediction. However, the energy companies are under no obligation to sell and refine the crude for purely American consumption.
At the same time, fracking won't be used exclusively on energy resources located in the US.

We have LNG import facilities that were built just a few years ago. Now, with the relatively low NG production costs compared to those in Europe, some are discussing conversion of those import facilities to export facilities. However, the oil and gas industry is backing off that type of planning due to the realizaton that Europe and China have plenty of frackable resources.

Ultimately as fracking technology spreads, a global market become established with more uniform prices for NG, resulting in less incentive to export.
Posts: 45,533
cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:04 PM   #18
Valiant Valiant is offline
Valiant 'The Thread Killer'
 
Valiant's Avatar
 

Join Date: Jun 2001
Location: Kansas City
Casino cash: $6562380
My only problem with fracking is the pollution of the underground water tables..
Posts: 18,337
Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.Valiant threw an interception on a screen pass.
    Reply With Quote
Old 11-23-2012, 03:06 PM   #19
penguinz penguinz is offline
Supporter
 
penguinz's Avatar
 

Join Date: Mar 2003
Casino cash: $3297626
Quote:
Originally Posted by Valiant View Post
My only problem with fracking is the pollution of the underground water tables..
someone will post soon about that being a myth.
__________________
Posts: 16,222
penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.
    Reply With Quote
Old 11-23-2012, 03:17 PM   #20
cdcox cdcox is offline
www.nfl-forecast.com
 
cdcox's Avatar
 

Join Date: Sep 2000
Casino cash: $2591769
Informed look at the groundwater contamination issue:

http://blogs.scientificamerican.com/...t-the-problem/

The problems are:

1) the oil and gas business is extremely fragmented. There are literally hundreds of mom and pop drilling companies and not all of these are operated responsibly.
2) Therefore, proper installation and inspection of the the well doesn't always occur. This is where the big risk for groundwater contamination exists.
3) regulations vary a great deal from state to state. In some states the regulations are significant with good well inspection programs while in others the situation is much more lax. Resource development is profitable in both environments if the geology is favorable.

So if you are worried about groundwater contamination, better well head inspection programs is the key.
Posts: 45,533
cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:17 PM   #21
patteeu patteeu is offline
The 23rd Pillar
 
patteeu's Avatar
 

Join Date: Sep 2002
Casino cash: $10019237
Quote:
Originally Posted by Valiant View Post
My only problem with fracking is the pollution of the underground water tables..
That's the same reason I oppose unicorn ranching.

Quote:
Originally Posted by penguinz View Post
someone will post soon about that being a myth.
__________________


“Boy, you all want power. God, I hope you never get it.” - Lindsay Graham
Posts: 110,871
patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:19 PM   #22
B_Ambuehl B_Ambuehl is offline
Veteran
 

Join Date: Apr 2005
Casino cash: $9805405
It is a myth. The fracking takes place well below the water tables and is sealed in with casing. When people are affected it's from inappropriate disposal of wastewater and similar stuff, which creates problems that get blamed on the actual frac site.
__________________
Who's decision was it to fire Romeo" - Coleman

C Hunt: "It was my decision but it was one that Scott agreed with"

LOL
Posts: 2,605
B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.B_Ambuehl has just been standing around suckin' on a big ol' chili dog.
    Reply With Quote
Old 11-23-2012, 03:21 PM   #23
cdcox cdcox is offline
www.nfl-forecast.com
 
cdcox's Avatar
 

Join Date: Sep 2000
Casino cash: $2591769
Quote:
Originally Posted by B_Ambuehl View Post
It is a myth. The fracking takes place well below the water tables and is sealed in with casing. When people are affected it's from inappropriate disposal of wastewater and similar stuff, which creates problems that get blamed on the actual frac site.
Bad well casings and well heads are an issue too, as noted in the link I posted.
Posts: 45,533
cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.cdcox is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:25 PM   #24
patteeu patteeu is offline
The 23rd Pillar
 
patteeu's Avatar
 

Join Date: Sep 2002
Casino cash: $10019237
Quote:
Originally Posted by cdcox View Post
Bad well casings and well heads are an issue too, as noted in the link I posted.
In your opinion, is there any significantly greater reason to fear the environmental impact of fracking than to fear that of poorly regulated oil extraction or nuclear energy production? Or for that matter, the disposal of chemical waste?
__________________


“Boy, you all want power. God, I hope you never get it.” - Lindsay Graham
Posts: 110,871
patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:28 PM   #25
Donger Donger is online now
"Think BOOM!"
 
Donger's Avatar
 

Join Date: Nov 2003
Location: 33.675° N 106.475° W
Casino cash: $10639900
VARSITY
Quote:
Originally Posted by penguinz View Post
you are correct. We don't need clean water fr crops or livestock.
Again, you are being overly-dramatic.
__________________
I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 180,173
Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:30 PM   #26
Donger Donger is online now
"Think BOOM!"
 
Donger's Avatar
 

Join Date: Nov 2003
Location: 33.675° N 106.475° W
Casino cash: $10639900
VARSITY
Quote:
Originally Posted by DaneMcCloud View Post
Big Oil's dirty little secret.

The gullibility and stupidity of Americans never ceases to amaze me.
It really isn't a secret. Even though some of this oil will be exported, it's still a beneficial thing for every American.
__________________
I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 180,173
Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:34 PM   #27
BigRedChief BigRedChief is offline
Has a particular set of skills
 
BigRedChief's Avatar
 

Join Date: Dec 2003
Location: On the water
Casino cash: $3439627
VARSITY
Quote:
Originally Posted by B_Ambuehl View Post
It is a myth. The fracking takes place well below the water tables and is sealed in with casing. When people are affected it's from inappropriate disposal of wastewater and similar stuff, which creates problems that get blamed on the actual frac site.
So the video clips on you tube of people lighting their tap water on fire in the area of the country where fracking is occurring are all fake?
__________________
Fear leads to anger, anger leads to hate, hate leads to suffering.
-YODA
Posts: 78,731
BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:38 PM   #28
penguinz penguinz is offline
Supporter
 
penguinz's Avatar
 

Join Date: Mar 2003
Casino cash: $3297626
Quote:
Originally Posted by Donger View Post
Again, you are being overly-dramatic.
Nope
__________________
Posts: 16,222
penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.penguinz is too fat/Omaha.
    Reply With Quote
Old 11-23-2012, 03:38 PM   #29
FAX FAX is offline
testing ... 1, 2, 3
 
FAX's Avatar
 

Join Date: Oct 2004
Location: Tennessee
Casino cash: $6763759
Quote:
Originally Posted by Valiant View Post
My only problem with fracking is the pollution of the underground water tables..
That's the issue, for sure.

There are a ton of people who are very concerned over that particular problem.

In fact, it's possible that improper fracking can reduce our dependency on oil but increase our dependency on clean water (which, of course, is already a bit of an issue).

I'm not sure which is better; a full tank of gas, dying of thirst, or breaking out in giant, oozing, boils on the face.

FAX
Posts: 44,492
FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.FAX is obviously part of the inner Circle.
    Reply With Quote
Old 11-23-2012, 03:39 PM   #30
Donger Donger is online now
"Think BOOM!"
 
Donger's Avatar
 

Join Date: Nov 2003
Location: 33.675° N 106.475° W
Casino cash: $10639900
VARSITY
Quote:
Originally Posted by penguinz View Post
Nope
Okay, please show me one instance where fracking has lead to what you are apparently claiming.
__________________
I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 180,173
Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.
    Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 07:13 AM.


This is a test for a client's site.
Fort Worth Texas Process Servers
Covering Arlington, Fort Worth, Grand Prairie and surrounding communities.
Tarrant County, Texas and Johnson County, Texas.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2024, vBulletin Solutions, Inc.