More diesel news; when it rains............

The Mad Norsky wrote:

JamesBr wrote:
Fracking is used to extract natural gas, not crude oil distillates.

Wrong. 1,000's of wells being drilled into the Bakken formation in North Dakota and Montana. Most all are being fracked. An almost 99% success rate on each well drilled with fracking.

Folks, the real exciting news with oil is currently the Bakken formation, mentioned earlier.

BUT, there is an even larger shale oil formation just recently found underneath the Bakken called the Three Forks formation.

In other words, given enough time, North Dakota will produce more oil than ANYWHERE ELSE on the planet.

Local officials and oil company papers are stating there are at least another 1,000 wells to be drilled in just the NW area of North Dakota alone.

Folks, that is going to be a lot of oil, and perhaps our end to foreign imports. And that would be very good news.

While goods it is. It will just make the U.S the largest exporter. Even with all the success in fracking isn't the price of crude still determined by OPEC? IIRC.

Number of models is great, but sales volume/% of total market is low, like under 3%. It is not likely to get over 5% soon. And diesel passenger cars (including 3/4 and 1-ton pickups) use even lower % of diesel fuel of supply compared to the transportation industry in the USA.

JamesBr wrote:
Fracking is used to extract natural gas, not crude oil distillates.

Wow. Talk about wrong info posted! I guess everything on the internet is not true! LOL

gmcsmoke wrote:
but that's not going to reduce the price

yeah, speculation in the commodities market is the killer for all of us who can only wish supply and demand drove the market.

But, even on the speculation/commodities side of things, reducing and hopefully eliminating our foreign oil imports would place much less importance on happenings around the world, which so very much affect the market right now.

Someone sneezes on a fishing boat in the Persian Gulf and the price of oil changes. Take the unstable Middle East out of the equation by having no dependance on foreign oil and they can sneeze away all they want.

but that's not going to reduce the price

JamesBr wrote:
Fracking is used to extract natural gas, not crude oil distillates.

Wrong. 1,000's of wells being drilled into the Bakken formation in North Dakota and Montana. Most all are being fracked. An almost 99% success rate on each well drilled with fracking.

Folks, the real exciting news with oil is currently the Bakken formation, mentioned earlier.

BUT, there is an even larger shale oil formation just recently found underneath the Bakken called the Three Forks formation.

In other words, given enough time, North Dakota will produce more oil than ANYWHERE ELSE on the planet.

Local officials and oil company papers are stating there are at least another 1,000 wells to be drilled in just the NW area of North Dakota alone.

Folks, that is going to be a lot of oil, and perhaps our end to foreign imports. And that would be very good news.

aarond76 wrote:
Soccer moms driving diesel minivans are not going to adversely affect the price of diesel fuel. The world runs on diesel fuel. OTR trucks, cargo ships, construction equipment, heating oil, trains, etc... Passenger vehicles are a very small percentage of diesel fuel use in the grand scheme of things.

Also our farmers and ranchers who plant and harvest our food using diesel equipment.

JamesBr wrote:
Fracking is used to extract natural gas, not crude oil distillates.

Are you thinking of "cracking"? Hydraulic fracturing or "fracking" is used to recover gases and oil(petroleum), as well as uranium.

Fracking is used to extract natural gas, not crude oil distillates.

So much for fracking.