I meant conventional oil when it was the main stay years long past vs tight oil.
Yes I should have clarified what I meant.
Here is a good question ? Before all the conventional oil was tapped vs tight oil, which one was, or is the larger supply under ground world wide ? Which one was in larger formations ?
Yes, no one knows the future except God him self and it’s foolishly rash to dare to predict the future, it’s my hopes of a brighter ecomonic future for America that gets the best of me, however ? I rather be called insane and be corrected for that and perhaps that future hopes turn out to be true ? Then us being in a constant state of malaise with no hope at all.
I still believe with God’s blessings and with American innovation, ingenuity, and perhaps miracles of what I said
Will happen in the next 5 to 10 years with America”s oil boom revolution self substaining. One can only hope so.
I think we are still learning the amount of recoverable oil found in tight formation. Remember that currently the recoverable rate of oil found in a formation like the Bakken is only ~5%. 95% of the hydrocarbons will remain in the ground when we finish using today's technology.
Most traditional fields get 30~60% of the total oil removed, depending on how much enhanced oil recovery methods are used. For this I mean items like water flood or CO2 injection, more than just pumping.
There is no way we could spend 20 times the money and do 10 times the amount of physical work required for these tight formation and think we would match the cost of wells without that requirement.