$72 Billion Investments in US as it Heads Towards Energy Independence (Bloomberg)
At the same time, President Barack Obama is promoting development of natural gas and crude oil as an economic resource, and formed a task force this year to avoid federal rules that would slow fracking.
Investment Falls Off a Cliff
U.S. Companies Cut Spending Plans Amid Fiscal and Economic Uncertainty
By SUDEEP REDDY and SCOTT THURM
U.S. companies are scaling back investment plans at the fastest pace since the recession, signaling more trouble for the economic recovery.
Half of the nation's 40 biggest publicly traded corporate spenders have announced plans to curtail capital expenditures this year or next, according to a review by The Wall Street Journal of securities filings and conference calls.
Nationwide, business investment in equipment and software—a measure of economic vitality in the corporate sector—stalled in the third quarter for the first time since early 2009. Corporate investment in new buildings has declined.
At the same time, exports are slowing or falling to such critical markets as China and the euro zone as the global economy downshifts, creating another drag on firms' expansion plans.
The ignorance of what you posted is that given the cost of capital and the abundance of natural gas economics favors three times that level of investment. BUt even so it is not enough to offset the decline in actual and planned capital investment in our economy - thanks to Obama's very destructive politics.
Maybe if Obama had not been lavishing $100 billion in corruption on failed solar, wind mills, corn ethanol and batteries and invested in gas as a surface fuel?
norris maybe you can help with the math (below) since he just seems to want to call names instead of pointing out how you can determine how long it might be or if it might be that ND could possibly overtake TX as the #1 oil producing state without doing a rate calculation.
So please let me know if you see any interesting production numbers or math trends...
Here is a copy of my post about his post & my estimate based on EIA published production rates:
"This is your funny post:
"You said nothing about the rate of increase in your original post - you said how soon will...
You said nothing about the rate of increase in your original post - you said how soon will ND surpass Texas in PRODUCTION.
You know nothing about elementary math if you are reverting to that argument, I won't even try to justify a response to your ignorance."
So, go ahead and tell us how you are going to do the math without comparing the rates of increase in production of ND to TX so that you can determine if & how long it might be before ND might become the #1 oil producing state.....
This is the math that compares the rates using EIA data for only the last 6 months that they posted:
lets look at THE ACTUAL PRODUCTION numbers and compare to see if any pattern is revealed that might make you feel a little closer to reality?
Please feel free to check my math (significant figures are incorrect and rounding off to the 3rd decimal place was done by just removing the remaining numbers).
ND production/TX production = what percentage(s)
April 2012: 18,285/55,992 = 32.656%
May 2012: 19,839/ 58,617 = 33.845%
June 2012: 19,939/57,984 = 34.387%
July 2012: 20,964/61,733 = 33.959%
August 2012: 21,744/62,524 = 34.777%
September 2012: 21,855/61,500 = 35.536%
35.536% – 32.656% = ∆ 2.88% so annualized that would be = a 5.76% gain by ND production over TX production based on the above ½ year 2012 EIA production numbers (in thousand of barrels)....
Did you read it?
And, this part:
"You know nothing about elementary math if you are reverting to that argument, I won't even try to justify a response to your ignorance.""
Your calculations are of course correct. It knows it as well.
Like Stag, willie, Ron and RLP it is just a sickness. But a mental sickness which controls 2/3 of our federal government which seeks to limit economically viable energy development while claiming they are encouraging it.