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US number 1 OIL exporter in 5 years?


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I've been reading that the United States could become the largest exporter of Oil over the next 5 years due to fracking. If this really happens what would happen to the Iraq Dinar? I've always been of the thought that Iraq's oil is what would back their dinar and make it valuable. With so much supply on the market over the next few years does anyone have any thoughts on what could happen with the Dinar and middle east oil prices.

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Saudi Arabia and Iraq have the highest amount of oil in the world, Afghanistan has the only pipe lines to go to middle east, Asia, Europe and Africa. These three countries are tied to the petro dollar. America would not become the largest exporter of oil because of this. The US rather bankrupt Opec and make these two three countries reap the profit in Petro Dollars in order to make the dollar stronger. Now the real thing is Asia, how we cut out Asia from the markets and the answer is Americas vast amount of Natural Gas, when we start selling it to Asia it will remove our deficit and make us stable again. So summary if the US takes over Oil production prices go down because of supply and demand, if they only allow two countries to do it and Afghanistan to pump to different countries the US benefits and maintains status quo while still fixing economy by exporting natural gas which cost 1/4 of the price in the US as in ASIA.

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I've been reading that the United States could become the largest exporter of Oil over the next 5 years due to fracking....

Are you sure about that? I thought these reports were saying that the US would become the largest producer of hydrocarbons, but not exporter. i.e. we are going to use most of the newly produced natural gas ourselves. Also natural gas produces lower CO2 (and other things) when used in power plants than does coal, so wrt climate change, while not renewable its better than burning coal.

Kind of off topic but recently I've been doing some research on jobs in North Dakota as well as moving there, housing, what its like, etc. Huge boom going on there right now with oil as well as natural gas. Under Obama though who knows if that will continue

Its happened under Obama so far hasn't it?
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Are you sure about that? I thought these reports were saying that the US would become the largest producer of hydrocarbons, but not exporter. i.e. we are going to use most of the newly produced natural gas ourselves. Also natural gas produces lower CO2 (and other things) when used in power plants than does coal, so wrt climate change, while not renewable its better than burning coal.

Its happened under Obama so far hasn't it?

You are correct sir! Seems Obama isn't holding us back so much as some believe.

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