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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

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DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,625,275 Joined:Jun 2008	Message Posted: Dec 18, 2012 2:21:29 AM Ignore DrCashFlow Report Abuse a game changer
drpepperTX Champion Author Texas Posts:8,934 Points:751,010 Joined:Apr 2011	Message Posted: Dec 17, 2012 7:48:43 AM Ignore drpepperTX Report Abuse "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 Florida Posts:1,315 Points:308,215 Joined:Dec 2011	Message Posted: Dec 17, 2012 5:38:13 AM Ignore Radar1992 Report Abuse This is AWESOME news....maybe we can bring some of our troops home from the Middle East...
TXryder Champion Author Texas Posts:2,698 Points:430,780 Joined:Jan 2012	Message Posted: Dec 16, 2012 11:16:53 PM Ignore TXryder Report Abuse Oil is power and now apparently North America has enough to tell OPEC where to shove it.
judgemobile Champion Author Ohio Posts:7,560 Points:2,443,185 Joined:Nov 2005	Message Posted: Dec 16, 2012 11:09:12 PM Ignore judgemobile Report Abuse my advice to OPEC ? you have had it--go away !!!
Palantas All-Star Author Indianapolis Posts:803 Points:412,345 Joined:Sep 2011	Message Posted: Dec 16, 2012 11:08:06 PM Ignore Palantas Report Abuse This may prevent wars, though I see it doing nothing for gas prices.
UpSol7 Champion Author Augusta Posts:1,643 Points:756,925 Joined:Sep 2008	Message Posted: Dec 16, 2012 11:08:02 PM Ignore UpSol7 Report Abuse Maybe the OPEC countries could get into exporting pollution clean-up equipment to the fracking countries....
Aviator_Rob Champion Author New York Posts:3,795 Points:411,815 Joined:Mar 2012	Message Posted: Dec 16, 2012 11:05:06 PM Ignore Aviator_Rob Report Abuse 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 Posts:3,795 Points:411,815 Joined:Mar 2012	Message Posted: Dec 16, 2012 11:03:35 PM Ignore Aviator_Rob Report Abuse 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 Posts:3,176 Points:517,505 Joined:Nov 2011	Message Posted: Dec 16, 2012 11:03:17 PM Ignore JamesCalvin Report Abuse HO! - - - - - - HO! - - - - - - - - - HO! [Edited by: JamesCalvin at 12/17/2012 12:04:06 AM EST]
5Golfer8 Champion Author Tucson Posts:2,133 Points:299,675 Joined:Jun 2011	Message Posted: Dec 16, 2012 11:02:50 PM Ignore 5Golfer8 Report Abuse Everyone should walk because vehicles cause more deaths then guns and should be banned.
Aviator_Rob Champion Author New York Posts:3,795 Points:411,815 Joined:Mar 2012	Message Posted: Dec 16, 2012 11:00:15 PM Ignore Aviator_Rob Report Abuse 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 Posts:2,493 Points:715,745 Joined:Mar 2009	Message Posted: Dec 16, 2012 10:59:14 PM Ignore firefly09 Report Abuse Good!
Aviator_Rob Champion Author New York Posts:3,795 Points:411,815 Joined:Mar 2012	Message Posted: Dec 16, 2012 10:58:31 PM Ignore Aviator_Rob Report Abuse 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 Posts:7,302 Points:1,519,470 Joined:Jul 2008	Message Posted: Dec 16, 2012 10:58:25 PM Ignore DarthDadJr Report Abuse That would be nice...
nwsynthetics Champion Author Oregon Posts:1,014 Points:345,075 Joined:Dec 2011	Message Posted: Dec 16, 2012 10:56:23 PM Ignore nwsynthetics Report Abuse OPEC, say good bye
qwerty17 Champion Author New Jersey Posts:3,644 Points:1,115,930 Joined:Oct 2009	Message Posted: Dec 16, 2012 10:55:46 PM Ignore qwerty17 Report Abuse opec = scum
jwalkerh Champion Author Louisiana Posts:6,127 Points:1,368,645 Joined:Oct 2008	Message Posted: Dec 16, 2012 10:55:17 PM Ignore jwalkerh Report Abuse This is indeed good news for the US. This means more jobs at home.
postcard9 All-Star Author Massachusetts Posts:883 Points:514,395 Joined:May 2011	Message Posted: Dec 16, 2012 10:54:55 PM Ignore postcard9 Report Abuse That would be nice.
texashoudini Champion Author Austin Posts:2,621 Points:1,094,620 Joined:Jun 2009	Message Posted: Dec 16, 2012 10:52:29 PM Ignore texashoudini Report Abuse That is very good news. Now maybe we can put the squeeze on them.
BCM1 Champion Author Pennsylvania Posts:1,859 Points:782,020 Joined:Jun 2007	Message Posted: Dec 16, 2012 10:41:13 PM Ignore BCM1 Report Abuse Time to dictate to the jerks who raised the prices and caused the economy to go bad.
johton Champion Author Seattle Posts:1,205 Points:310,215 Joined:Jun 2012	Message Posted: Dec 16, 2012 10:36:58 PM Ignore johton Report Abuse Good, but they'll still set the prices.
BREW9 All-Star Author Tampa Posts:871 Points:2,910,030 Joined:Jun 2004	Message Posted: Dec 16, 2012 10:36:19 PM Ignore BREW9 Report Abuse good
WIPACKERFAN Champion Author Chicago Posts:8,794 Points:1,841,500 Joined:Aug 2005	Message Posted: Dec 16, 2012 10:35:33 PM Ignore WIPACKERFAN Report Abuse We'll see.
Dragnet Champion Author Arizona Posts:15,401 Points:2,907,785 Joined:Jul 2004	Message Posted: Dec 16, 2012 10:35:16 PM Ignore Dragnet Report Abuse Always some promises. Now who is on first? Maybe the desert will have to start riding economical camels.
RAKARWOWSKI Champion Author Chicago Posts:3,990 Points:819,075 Joined:Jan 2011	Message Posted: Dec 16, 2012 10:34:18 PM Ignore RAKARWOWSKI Report Abuse ok.
abcdMA Champion Author Worcester Posts:7,912 Points:1,573,030 Joined:Nov 2008	Message Posted: Dec 16, 2012 10:34:07 PM Ignore abcdMA Report Abuse good deal
Yonkers111 Champion Author Scranton Posts:8,331 Points:857,085 Joined:Apr 2007	Message Posted: Dec 16, 2012 10:31:31 PM Ignore Yonkers111 Report Abuse It "may" but probably not.
69Bonne Champion Author Gary Posts:1,140 Points:471,200 Joined:Sep 2005	Message Posted: Dec 16, 2012 10:28:04 PM Ignore 69Bonne Report Abuse Will wonder if it really would work.
Rhino8of8 Champion Author Wisconsin Posts:1,245 Points:372,890 Joined:Jan 2012	Message Posted: Dec 16, 2012 10:25:22 PM Ignore Rhino8of8 Report Abuse My question is how long it'll last.
libertyut Champion Author Utah Posts:1,344 Points:290,650 Joined:Mar 2012	Message Posted: Dec 16, 2012 10:24:07 PM Ignore libertyut Report Abuse 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 Posts:10,554 Points:1,770,090 Joined:Apr 2008	Message Posted: Dec 16, 2012 10:23:34 PM Ignore clermont40miles Report Abuse President Barack Obama = barf.
Road-Runner Champion Author Denver Posts:7,046 Points:1,905,165 Joined:May 2004	Message Posted: Dec 16, 2012 10:23:17 PM Ignore Road-Runner Report Abuse Wonderful!
clermont40miles Champion Author Cincinnati Posts:10,554 Points:1,770,090 Joined:Apr 2008	Message Posted: Dec 16, 2012 10:22:48 PM Ignore clermont40miles Report Abuse Let's hope the greenies do not stop this success. Green is red.
blazerbob91 Champion Author Milwaukee Posts:6,130 Points:1,880,745 Joined:Aug 2005	Message Posted: Dec 16, 2012 10:21:13 PM Ignore blazerbob91 Report Abuse Frack OPEC
CiVX Champion Author Oakland Posts:7,050 Points:1,358,610 Joined:Feb 2009	Message Posted: Dec 16, 2012 10:20:26 PM Ignore CiVX Report Abuse OPEC needs to Frack there people like US.
Chas58 All-Star Author Detroit Posts:956 Points:283,205 Joined:Mar 2011	Message Posted: Dec 16, 2012 10:20:18 PM Ignore Chas58 Report Abuse 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 Posts:8,125 Points:1,699,155 Joined:Oct 2007	Message Posted: Dec 16, 2012 10:19:31 PM Ignore nimpy Report Abuse price will still go up
ILANGE9 Champion Author Illinois Posts:7,605 Points:1,595,250 Joined:Sep 2008	Message Posted: Dec 16, 2012 10:18:48 PM Ignore ILANGE9 Report Abuse Says who???
DrLyon Champion Author Michigan Posts:6,645 Points:1,210,255 Joined:May 2006	Message Posted: Dec 16, 2012 10:17:03 PM Ignore DrLyon Report Abuse So deny...
hmw10284 Champion Author California Posts:1,127 Points:195,275 Joined:Sep 2012	Message Posted: Dec 16, 2012 10:15:08 PM Ignore hmw10284 Report Abuse lets see what happens
jrsva Champion Author Virginia Posts:9,841 Points:1,611,050 Joined:Jan 2006	Message Posted: Dec 16, 2012 10:13:22 PM Ignore jrsva Report Abuse “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 Posts:1,027 Points:267,390 Joined:Dec 2008	Message Posted: Dec 16, 2012 10:12:59 PM Ignore carranco Report Abuse All the more reason to develop our resources.
nomad228 Champion Author Columbus Posts:3,117 Points:575,140 Joined:Feb 2011	Message Posted: Dec 16, 2012 10:10:28 PM Ignore nomad228 Report Abuse 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 Posts:8,614 Points:1,911,305 Joined:June 2005	Message Posted: Dec 16, 2012 10:10:15 PM Ignore TheSnowstorm Report Abuse 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 Posts:3,160 Points:1,199,855 Joined:May 2009	Message Posted: Dec 16, 2012 10:08:26 PM Ignore wang91554 Report Abuse of course. but babies steps, one at a time...
serrog Champion Author Nova Scotia Posts:5,554 Points:1,510,180 Joined:Oct 2008	Message Posted: Dec 16, 2012 10:06:14 PM Ignore serrog Report Abuse This has dire consequences
mfeldstein Champion Author Ottawa Posts:8,161 Points:1,928,430 Joined:Feb 2007	Message Posted: Dec 16, 2012 10:06:04 PM Ignore mfeldstein Report Abuse wshokie12 ... Couldn't agree more.
Gas4Gore Champion Author Detroit Posts:2,406 Points:420,950 Joined:Jan 2010	Message Posted: Dec 16, 2012 10:05:31 PM Ignore Gas4Gore Report Abuse That is really too bad.
wayoung56 Champion Author Alabama Posts:2,790 Points:816,385 Joined:Oct 2006	Message Posted: Dec 16, 2012 10:05:29 PM Ignore wayoung56 Report Abuse NoBama will find a way to derail this, he is OPECs best friend...