[Paladin2]

Wouldn’t that be an OLD formation?

[mike_9958]

speculative..... pump and dump stock scheme ?

[Old Flat Toad]

Has China bought up all the land rights yet?

[TexasFreeper2009]

I have mineral rights to land in that area, and let me assure you this is not a “pump and dump”. There has been a flood of leasing offers and offers to purchase the mineral rights for vast sums of money the past 9 months or so.

[Perkalong]

Doesn’t matter.

The EPA is going to shut down fracking anyway.

[St_Thomas_Aquinas]

I hope this is true, but... I can see the government using the resulting tax revenue to pay down the debt, and then beginning a new spending binge.

[relictele]

You didn’t frack that.

[EternalVigilance]

You can still smell oil in the Permian basin.

[Army Air Corps]

Ping.

[Fractal Trader]

True, or a mirage?

[ConservativeInPA]

Looks like a great time to be in the Republic of Texas. Funny how NY doesn’t even want to touch Marcellus and Utica shale. Two different States of mind.

[spokeshave]

Devon’s tests showed that around 3.6 million barrels of oil could be recovered per square mile, and as the Cline formation covers roughly 9,800 square miles it gives an estimated reserve of more than 30 billion barrels. A fair bit more than the 4.3 billion in the Bakken, or the 3 billion barrels in the Eagle Ford plays.

Small potatoes....the recently discovered New Monterey Shale in California...runs from San Jose to LA weighs in at 500 Billion barrels.

Both eclipsed by the Green River Formation with 3 Trillion barrels of which over 1 Trillion is recoverable with today's technology.

The Rand Corporation, a nonprofit research organization, estimates that 30 to 60 percent of the oil shale in the Green River Formation can be recovered. At the midpoint of this estimate, almost half of the 3 trillion barrels of oil would be recoverable. This is an amount about equal to the entire world's proven oil reserves. ...

[dsc]

Chairman Maobama must not be allowed to prevent development of these resources.

[TigersEye]

I love peak oil! It just keeps peaking and peaking and ... ;^)

[pallis]

Gas went up again today.

[monocle]

Meanwhile, Obama is furiously studying ways of thwarting this discovery as well as all the others. Are armadillo lizards an endangered species?

[Right Wing Assault]

Quick, obama, declare the whole area a National Park! We gotta stop this energy independence kick, otherwise, how are the Arabs going to fund the Muzzlem Brotherhood and al-Qaeda?

[Dusty Road]

Not new to those of us that have been producing it for the last 10 years.

[Dusty Road]

Whats kind of funny about this story is Marathon dominated this area for years then sold their holdings and started chasin gas over in the Hanisville Shale over in LA. They were sitting right on top of this.

[B212]

does this mean, that we don’t have to kiss some muslims butt in order to buy foreign oil...time to pack up and leave the middle-east....who needs muslim oil?