Posted:
#26
mwhit82.... don't forget, the world doesn't revolve around the U.S.
Sure, we might have our own agenda getting off foreign oil, but do you really think developing economies (India, China particularly) are weening themselves off oil? Think again.
Long story short, whatever amount of foreign oil we decrease.. those developing countries will more than make up for. So, oil consumption only increases on a global level.... long term
That being said, there will be a place for Natural Gas in this nation's future. It makes too much sense not to, and the Gulf Disaster will only make the push that much more serious. BTW, big oil is well positioned for Nat. Gas.
Witness Exxon's buy-out of XTO Energy earlier in the Year,and other big oil companies buying stakes in big Nat. Gas Projects. Chesapeake (CHK) has quite a few deals with the majors, and is a big Nat. Gas player.
Sure, we might have our own agenda getting off foreign oil, but do you really think developing economies (India, China particularly) are weening themselves off oil? Think again.
Long story short, whatever amount of foreign oil we decrease.. those developing countries will more than make up for. So, oil consumption only increases on a global level.... long term
That being said, there will be a place for Natural Gas in this nation's future. It makes too much sense not to, and the Gulf Disaster will only make the push that much more serious. BTW, big oil is well positioned for Nat. Gas.
Witness Exxon's buy-out of XTO Energy earlier in the Year,and other big oil companies buying stakes in big Nat. Gas Projects. Chesapeake (CHK) has quite a few deals with the majors, and is a big Nat. Gas player.
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