Thank Big Oil

Still able to buy gas for the vehicle and put groceries on your table in the continuing Democrat Depression? Thank Big Oil.

The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said….

“’The U.S. increase in supply is a very meaningful chunk of oil,’ Francisco Blanch, the bank’s head of commodities research, said…. ‘The shale boom is playing a key role in the U.S. recovery. If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.’”

The “nation’s economic recovery,” is a little economist’s joke, based on the statistical lies the feds tell. Ninety-two million Americans out of work is not a recovery.

2 responses to “Thank Big Oil

  1. Jeez, we hang by a slender thread. The thing most folks miss about this new found feely good glut of Shale Oil is that it is danged expensive to produce. Real damned expensive and everything revolves around a price point that I suspect is around $90/barrel. Let the price of crude drop below the price point and the production stops – quickly. A SHTF scenario???? Deflation lowers the price of crude – supply and demand ya know – simply because Joe Sixpack doesn’t have the coin to fill up the F-250 ’cause he ain’t working and the unemployment ran out yada yada. Multiply by the 92 million or so ‘at risk’ folks in our country and quite suddenly the oil reserves are full and the price of crude plummets. The Eagle Ford and Bakken would be ghost towns in 30 days. I was up in the Barnett Shale in 2011 when the same same scenario unfolded and it happened with scary bad speed.

    Reports such as those cited above do not give me the warm fuzzies for sure.

  2. Thanks for the comment, Andy. No, that is not a pleasant thought. Always more wrinkles to everything than meet the eye right off hand..