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scon

11/02/12 10:18 AM

#54 RE: big-yank #53

There is plenty of crude oil and natural gas in the US through
horizontal drilling and fracking. The U.S. will become the world's
biggest producer and exporter of crude oil and natural gas within
this decade. Both oil and gas are in the picture. It is not either
crude oil or natural gas. Natural gas has a deep market for power
generation. Crude oil has a deep market for gasoline and diesel
fuel and petrochemicals. Now that energy explorers are switching
to crude oil in US from natural gas, it will be interesting to
see if they drive down West Texas Intermediate price of crude
like they did natural gas with increased production and supply.
That may discourage building the infrastructure to use natural
gas to power autos and trucks.