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Ohio, Marshall Wells Hitting Oil

Some sites producing hundreds of barrels

February 22, 2013

WHEELING — It may be a little soon to declare northern West Virginia black gold country, but Chesapeake Energy drew an average of 290 barrels of oil per day from a single Ohio County well last year....

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Feb-23-13 9:48 AM

".... while food prices rose 20 per cent and oil prices surged 59 per cent. During round two, in the eight months up to June last year, the CRB rose 10 per cent, with food up 15 per cent, while oil prices rose a further 30 per cent."

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Feb-23-13 9:47 AM

"Can anyone tell me why we are paying so much for gasoline?? please???"

Part of high gas prices can be blamed on quantitative easing (printing money). The Fed has "printed" a trillion $ via QE policy. More $ in circulation purchasing the same amount of goods debases the $'s value. Oil is traded based on American $ so we are "paying" more.

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The first two rounds of quantitative easing fueled a commodity bubble, increased income inequality and set a bad example for the rest of the world. During the 16 months of round one, up to March 2010, the CRB commodity price index rose 36 per cent, whil

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Feb-23-13 8:13 AM

a smart president would quit trying to control the whole world and take care of this country.we should be self sufficient with all of the natural resources that we have.the chinese stuff[junk]needs to stay over there.our leaders are brain dead.

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Feb-22-13 1:54 PM

When the Government dumps a TRILLION borrowed Chinese and freshly-printed quantitatively-eased dollars on the economy every year that probably has a little to do with the recent price increases on EVERYTHING, too. Can you say Zimbabwe?

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Feb-22-13 1:26 PM

"Can anyone tell me why we are paying so much for gasoline?? please???"

EROI (energy return on investment). The cost of production has been increasing even as the volume of production has held steady or even slightly increased. Oil, regardless of where it comes from, is fungible and is priced largely by the world market. Even as U.S. demand has been flat or even declining the global demand has increased. Then there is the question of quality. Not all oil is equal. Heavy, sour oil requires much more expensive production and refining processes.

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Feb-22-13 8:26 AM

those gas prices are dropping like a helium filled balloon.the royalties are rolling in.and the checks in the mail.

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Feb-22-13 8:13 AM

Oil? My God lets stop this from happening. We want to be bullied by liberals and Arab OPEC countries, we must stop this. We don't really want energy independence, that was just a campaign slogan and some of us think it was real..but then we thought Obama was real...or we didn't care it just gave us a warm feeling voting for him.

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Feb-22-13 6:23 AM

OBAMA: let the hatefest begin

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Feb-22-13 2:16 AM

Can anyone tell me why we are paying so much for gasoline?? please???

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