For decades, North Dakota produced fewer than 150,000 barrels a day, but that figure started surging in 2007 and reached 728,000 barrels a day in September.
There is no economic reason for the growth in Bakken production to slow. But given most producers appear to be focusing on cost reduction in operations and limited access to capital it is logical to assume the rate of growth will not stop but it will moderate.
The OKS pipe line not getting the necessary bids is a function of the Progressive economic sickness. Business people are simply not willing to make a ten year take or pay commitment even when that commitment would dramatically lower their operating costs.
Infrastructure is one critical cure to fracturing operations being 'expensive'. Of course it also dramatically lowers co2 and is vastly safer than training. What we really need are lines running east. California probably has more oil that the Bakken and Texas together on and off shore. But in the insanity out here they will not develop California resources and they will not allow pipes.
Four years later the failure of the Obama/Progressive economic agenda is not Bush or Republicans fault. Indeed, things would be far worse if the Fed was not taking undreamed of actions to stabilize the economic fallout of the Progressive insanity agenda.
When companies can borrow long term money below the real rate of inflation and still refuse to invest a rational person would ask what in stopping them in the decision tree. Then correct it. The Progressive/Collectivist visceral negative emotion response of declaring them enemies of the people does not work so is no solution.
Unfortunately Obama and the Progressive have proven an election can be won be inflaming the negative emotions of our least educated, least aware and least experienced citizens. As we see in California slow moving economic atrophy alone is not enough to correct the delusion. Heck we have seen secular collectivists continue on to the bankruptcy and social malfunction of an entire continent.
Tea Party is the rational response to this process of negative emotions driving insane agenda. But they do need to remember the Reagan example. They have to explain directly to fellow Americans with a knowing smile rather than giving in to completely understandable frustration. This takes Faith.
that started out as a fairly lucid interesting post; but I don't understand how Obama "inflaming" the republican base ("our least educated, least aware and least experienced citizens") helped him win the election.