Frack Me!! LOL
Grrrr. Peak oil. Grrrr. Peak oil . . .
Thank God!
Now I can start using my old Terex Titan as my commuter vehicle again.
This energy and other domestic sources may be the only thing to save America from bankruptcy.
We don’t need China but Chesapeake want$ them.
O’Bama is going to find himself between a rock and a hard place on this one. His Saudi masters and Mr. Soros won’t want him to allow such technology to be used because it is good for the Country. But the Chinese who own us will demand that they be allowed to suck out all the NG they can from TX for their domestic use. What a dilemma
For the record the envirowackos are already attacking fracking as a assault on the pristine environment of PN, NY, WV and other states with large NG deposits. Expect a bill in Congress soon to ban the practice everywhere, but in the Chesapeake fields of TX.
The problem with Chinese Oil and Gas is every time you fill up, an hour later you’re tank is empty again..............
That really makes me feel good. We’ve hammered all the formerly major American oil companies into the ground, so now we need to ask the Chinese to develop our oil and gas resources.
And, yes, by the way, all the American “big oil” companies are now midgets by comparison with these foreign companies. No more big oil. Aren’t our hippies happy? No, because they still dream of crushing what’s left of big oil. And every Dem politician still runs on that platform.
So, does that mean $1.00 a gallon gas is in the very near future? Not holding my breath for that.
As a owner of mineral rights and interests in natural gas wells all I can say is where is the money? i havent seen it in the last few years
bump.
The anti-fossil fuel fanatics will not let any possible good news for the rest of us go unchallenged. Scare campaigns like anthropogenic global warming seem to work well for them, especially if they can get a few big-name "scientists" to sign on.
And who do you suppose will view this as an unhappy development? Hint: those who will oppose fracturing techniques because some of the injected fluid might percolate up to the surface/water table in an eon or ten.
http://www.cnoocltd.com/encnoocltd/aboutus/default.shtml
CNOOC Ltd.
About Us
CNOOC Limited (the “Company”, together with its subsidiaries, the “Group” or “we”), incorporated in Hong Kong Special Administration Region (“Hong Kong”) in August 1999, was listed on the New York Stock Exchange (code: CEO) and The Stock Exchange of Hong Kong Limited (code: 00883) on 27 and 28 February 2001, respectively. The Company was admitted as a constituent stock of the Hang Seng Index in July 2001.
The Group is China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world. The Group mainly engages in oil and natural gas exploration, development, production and sales.
The Group has four major production areas in offshore China, which are Bohai Bay, Western South China Sea, Eastern South China Sea and East China Sea. In addition, it is one of the largest offshore crude oil producers in Indonesia. The Group also has upstream assets in Nigeria, Australia and some other countries.
As at 31 December 2009, the Group owned net proved reserves of approximately 2.66 billion BOE, and its average daily net production was 623,896 BOE. The Group had 4,019 employees and total assets of approximately RMB 242.3 billion.
I believe the new 2011 Congress will early on capitalize on the recently discovered technology that has unlocked many multiples of domestic gas reserves by encouraging more of it. This will:
1. cause many thousands of jobs to appear
2. enrich the governments and landowners in the form of royalties and tax revenue boost.
3. cause an expanding usage of natural gas whether in power generation or transportation as it is cheaper and more environmental friendly than alternatives, as well as require no massive governmental subsidies such as ethanol or wind.
4. strategically, reduce the need for imports, which will improve our balance of payments, reduce the possibility of tanker spills and give us more control of our energy needs.
Obama will veto of course but if presented properly to the public, can be overidden.
Look for the demonrats and envirowackos to rain on this parade. For instance, look at the recent announcement by the dim governor of PA:
Rendell halts further leasing in Pennsylvania state forests