Posted on 12/13/2019 7:22:42 PM PST by brownwill6767
https://alfinnextlevel.wordpress.com/2018/04/16/still-waiting-for-peak-oil/
The western U.S. alone contains at least 2 trillion barrels of petroleum in oil shale formations. At a current U.S. annual consumption rate of 7.2 billion barrels, that’s a 278-year supply.
[[Prices are dropping.]]
Where? Not in my neck of woods- been at $2.85 for a year now
Low gas prices for the family car. It’s just the right thing to do, help the average joe with his wife and children. The rewards will be eternal.
~$2.14 / gallon, or less, here for the last year or so.
The Bakken alone has more than ten times the proven reserves of Saudi Arabia. And the oil is light and sweet. Not only is there plentiful oil, there are enormous amounts of natural gas that come up with the oil.
The reason that it took so long for the technology to come to fruition to tap into these reserves is because it was not economic. The average cost to bring a barrel of oil out of the Saudi desert is $6 whereas it’s on average $30 a barrel in the US.
If there is a decline in New Mexico, it’s likely die to a lack of pipelines and associated infrastructure. the infrastructure is still embryonic in the US. But that is changing.
Yeah, this smells like fake news.
The whack-a-doos in Cartelfornia are cutting their own financial throats...
One of the reasons we should buy Greenland
The Left Coast doesn’t have a monopoly on whack-doos. New York’s Cuomo banned fracking on huge reserves under Upstate New York.
Right on !
There were geologist working for Standard Oil, who understood oil was being manufactured proximal to Earth’s mantle, and for that reason, went so far as to recommend oil field rotation, (similar to crop rotation), as they had experiences oil cycles. Some of these began careers believing oil only to be a fossil fuel, but quickly learned they were discovering oul in deep and heated geologic formations consistently.
This has been experienced in large scale, in multiple locations, as in West Texas, the famous oil patch along energy trends throughut the gulf, central Iraq, and numerous points in Siberia, etc...
“Pressure” gets low, let it rest for a while.
Today, while still not politically correct, I have had classes where we were taught oil is a product of microbiology taking place down near or even beneath the Earth’s Mantle.
There is a shockingly large volume of water down there as well.
Rockefellers geologist were ahead of their time, or at least not so afraid of the left wing PC acedemic establishment.
Yup.
But in the intervening years, we got mosques.
True Dat
Next big energy gusher is sub sea liqid Methane
Plenty off the Atlantic coast
Japan also has some exploratory drilling
Why 'flammable ice' could be the future of energy - BBC Future
[Search domain www.bbc.com/future/article/20181119-why-flammable-ice-could-be-the-future-of-energy] https://www.bbc.com/future/article/20181119-why-flammable-ice-could-be-the-future-of-energy
Having very few other options in terms of domestic energy makes this hard-to-access source of methane an appealing prospect. Japan is not a country that has other carbon-based sources of energy .
Energy Resources from the Bottom of the Sea. Research is underway into the commercialization of natural methane hydrate believed to exist in the seabed layer in the waters surrounding the Japanese archipelago. Methane hydrate, a substance resting in Japanese coastal waters also known as "burning ice," has attracted attention in recent years.
SpaceX. Its Falcon Heavy rocket, first launched earlier this year, is the current record-holder for the most powerful operational launch system. Even so, the American start-up has its eyes on the horizon, planning its next vehicle, the Big Falcon Rocket.
This behemoth will run on the already-tested Raptor engine. And besides being one of the most advanced engines ever developed (more on that later), it will use methane instead of the purified jet fuel.
I’ve not read what percent of available share oil fracking extracts. It can’t be 100%.
The US Government needs to be pushing oil and natural gas sales to other countries.
NM is part of the Permian Basin zone. It touches the southern part of NM State. Do a google earth or equivalent and you will see all of the productions sights.
Absolutely.
I did a paper on this when studying Petroleum engineering back in the late 70's. Dinos my arse was pretty much what I concluded.
That is why they call it oil exploration
The Saudi dream is to get price low and run USA rigs out of business. Who buys them at that point...companies owned by Saudi.
T Boone Pickens said this was the Saudi strategy
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