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They need methane (natural gas) to produce hydrogen. In the US, natural gas is essentially a free by-product of the fracking operations that are primarily drilling for crude oil. Much of that is light sweet and needs to be exported. 70% or more of the oil drilling operations run at a loss.
This is wrong in so many ways its almost funny. I get it though, the US gas and oil industry is keeping Russia from getting rich at a time when it needs the money desperately.
This is wrong in so many ways its almost funny. I get it though, the US gas and oil industry is keeping Russia from getting rich at a time when it needs the money desperately.
Of course, you haven't rebutted with any facts as usual. You're like that John Cleese character in the Monty Python Argument Clinic Sketch who just says "No, it isn't" all the time.
Of course, you haven't rebutted with any facts as usual. You're like that John Cleese character in the Monty Python Argument Clinic Sketch who just says "No, it isn't" all the time.
You might want to take a break from posting until you have something to say.
Okay so how much oil are they extracting from the Marcellus Shale? You might want to take a break from posting until you have something true to say. Posting random Russian propaganda on this website is not helping your cause.
This is wrong in so many ways its almost funny. I get it though, the US gas and oil industry is keeping Russia from getting rich at a time when it needs the money desperately.
Quote:
Originally Posted by lchoro
Of course, you haven't rebutted with any facts as usual. You're like that John Cleese character in the Monty Python Argument Clinic Sketch who just says "No, it isn't" all the time.
You might want to take a break from posting until you have something to say.
DKM is correct. Though in my opinion not intentional at all, the US oil boom has collapsed global oil prices. This has greatly impacted every country that is dependent on oil for its economy, and has had varying degrees of impact for countries in which oil is a revenue source though not dependent on it.
It has even impacted the US, driving many out of business or forced to downsize. Even large companies like Exxon have lost a third of its value, wiping ten years of gains out.
Russia obtains a lot of revenue from oil, the drop in oil prices along with the reduced FDI from sanctions, has had an impact. If oil prices were still high as they were, the sanctions would not have had near the bite as they do now. Also, Russia based a lot of its programs, like the Armata, on projections of oil not dropping below a set point, which though not divulged, experts think around $75 or so, but that was not taking into account sanctions.
DKM is correct. Though in my opinion not intentional at all, the US oil boom has collapsed global oil prices. This has greatly impacted every country that is dependent on oil for its economy, and has had varying degrees of impact for countries in which oil is a revenue source though not dependent on it.
It has even impacted the US, driving many out of business or forced to downsize. Even large companies like Exxon have lost a third of its value, wiping ten years of gains out.
Russia obtains a lot of revenue from oil, the drop in oil prices along with the reduced FDI from sanctions, has had an impact. If oil prices were still high as they were, the sanctions would not have had near the bite as they do now. Also, Russia based a lot of its programs, like the Armata, on projections of oil not dropping below a set point, which though not divulged, experts think around $75 or so, but that was not taking into account sanctions.
That is not what he responded to. You didn't read the post which was a response to a post about hydrogen production. All the other information in my post was factual and drawn from industry news sources. He simply said that it's not without providing any data points.
Nobody has claimed that the boom in US oil production didn't play a role in the drop in oil prices from 2014 to 2016. You also left out the role of currency exchange rates and the lifting of the economic sanctions on Iran by the Obama administration. Oil prices rose in large part through 2014 because of the recovery in the US economy and the federal reserve policy to monetize US government debt and devalue the US dollar. The US dollar bottomed at the same time in mid-2014 as commodities peaked. That coincides with the US federal reserve policy to shift to increasing the benchmark interest rate and of the central banks in Europe and Japan to take up the monetization of global sovereign debts.
The most recent drop in oil prices is owed to the decision by the Trump administration to cave in on the ban against Iran's oil exports.
Just because you make random statements doesn't mean they are true unless debunked.
Quote:
Originally Posted by lchoro
They need methane (natural gas) to produce hydrogen.
Hydrogen is produced in other ways besides natural gas. You really just need electricity. I don't have to explain it, you can google how its made. This doesn't realy address why you think hydrogen production is so important.
Quote:
Originally Posted by lchoro
In the US, natural gas is essentially a free by-product of the fracking operations that are primarily drilling for crude oil. Much of that is light sweet and needs to be exported.
You are confusing many terms here. Fracking operations are not primarily drilling for crude oil. Crude oil is conventional and not the same thing as the shale oil that is fracked. Natural gas is not necessarily connected to either. Natural gas is produced in various regions across the US. In some places it comes with oil, but most others (such as Marcellus in Pennsylvannia) its just gas with no oil production. Its not free, but it is cheap to produce and getting cheap enough to export.
Much of the light sweet oil (which is not the majority of oil produced unlike your claim) does not need to be exported but some is for the refinery operations in the Caribbean that use it to mix with cheap Venezuelan tar oil.
Quote:
Originally Posted by lchoro
70% or more of the oil drilling operations run at a loss.
There is no evidence that drillers are losing money in the US. I can see with my own eyes they are making a lot of money here.
I get that Russia throws shade at its competition and that includes the US oil & gas industry and also rockets. I'm sorry that Kazakhstan is using a California rocket company to launch its next satellite but I'm sure they have good reasons to and not "Russophobia". Debunking Russian myths designed to fool Russians into thinking they aren't governed by thieves is not anti Russian hysteria.
Just because you make random statements doesn't mean they are true unless debunked.
You haven't debunked anything. Electricity is nothing more than a power source for facilitating a chemical process. Hydrogen is most often made from methane. Fracking shale is classified as an unconventional source of oil. Conventional sources of oil have been in decline for decades. Natural gas is often a by-product of these drilling operations. Methane often leaks into the air and into the water table. In the early days of fracking in North Dakota, it became highly publicized because of the gas that was being burned off at the wellheads. Most fracking companies are still losing money from their operations. There's a big difference between having a profitable operation and using financing and hedging to making a profit. That topic has been extensively covered in the industry for several years now.
The pessimism about the coming peak in fracking is unrelated to geopolitical views. It has to do with the rapid declines in the fracked wells as opposed to conventional sources, the rapid rise in the production of reserves, the length of past cycles where previous major discoveries went into decline, and the refracking of old wells this early in the oil boom-bust cycle, .
Ukraine is trying to provoke Russia on the seas. Ukraine has no good reason and definitely no good reasoning to interfere with shipping going to and from the Crimea. I hope the Ukrainian junta has enough grasp on reality to see that Russia can be provoked.
I would remove every Ukrainian Naval Port and ship bigger than a canoe on the Black Sea.
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