The stuff is miles down.
Posted on 11/16/2016 9:06:41 PM PST by fision
The U.S. Geological Survey says it has found the largest continuous oil and gas deposit ever discovered in the United States. On Tuesday, the USGS announced that a swath of West Texas known as the Wolfcamp shale contains 20 billion barrels of oil and 16 trillion cubic feet of natural gas. That is nearly three times more petroleum than the agency found in North Dakota's Bakken shale in 2013. As NPR's Jeff Brady reported, the amount of oil in the Wolfcamp shale formation is nearly three times the amount of petroleum products used by the entire country in a year.
The New Middle Texas Town's Fortunes Rise And Fall With Pump Jacks And Oil Prices The USGS says all 20 billion barrels of oil are "technically recoverable," meaning the oil could be brought to the surface "using currently available technology and industry practices." "The Texas discovery is in a place that has been drilled before by conventional methods," Jeff reported for NPR's Newscast Unit. "But now that oil companies use horizontal drilling and hydraulic fracturing — or fracking — they can access reserves that previously were out of reach." "Changes in technology and industry practices can have significant effects on what resources are technically recoverable, and that's why we continue to perform resource assessments throughout the United States and the world," said Walter Guidroz, a program coordinator for the USGS Energy Resources Program, in the USGS statement. "Even in areas that have produced billions of barrels of oil, there is still the potential to find billions more," he said. The complete oil and gas assessment is publicly available here. A map shows the six separately assessed regions, designated according to depth by the petroleum industry, that make up the Wolfcamp shale.
Thanks, it’s new to me.
Was Bush better than Gore...HELL YES!!!
Was Bush disappointing...HELL YES.
But who knows where we be now with a GORE Presidency...........
And THAT was my point.........
The Green River formation weighs in at an estimated 3 Trillion barrels of oil....with an estimated 1 Trillion recoverable with todays technology.
For comparison...the known global reserves of oil at 1.5 Trillion barrels.
The Green River Formation is an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming that contains the world’s largest deposits of oil shale.
The United States Geological Survey (USGS) estimates that the Green River Formation contains about 3 trillion barrels of oil—yes I said trillion—with only half of it being recoverable, depending on available technology and economic conditions. So if my math is correct, the Green River Formation has the capability to produce around 1.5 trillion barrels of oil until it has been tapped dry. In comparison, 1.5 trillion barrels of oil is about equal to the entire world’s proven oil reserves.
Colorado alone contains about 1,300,000 barrels of oil per acre on average, making it the most oil-rich deposit in the United States–and probably the entire world, according to the Environmentally Conscious Consumers for Oil Shale (ECCOS).
Doesn't sound like a whole lot of oil to me...
Would be interesting to do a study
as to the amount of hydrocarbon
in the atmosphere above these areas.
I would bet the amount leaked into
the atmosphere plays right into the
globull alarmists hands...
and it’s not even fuel burned yet...
“But who knows where we be now with a GORE Presidency...........”
Quite true! And I stayed up nights at each of Bush’s two elections worrying that he might not win. Furthermore, at the time I thought of him as a good president. That said, when viewing the whole of his (and his father’s) presidency, I came to realize that while his opponents would have been worse, he was no prize. I guess the thing that angers me the most is that they were both globalists and supported globalism to the serious detriment of our citizens. And finally, I hate him for the financial depression he brought on with his “buddies” on Wall St. The “crash of 2007” materially and unalterably destroyed our retirement plans, as we watched our retirement funds evaporate in a matter of a very few days. I am 76 and I still work today managing real estate investments that we managed to keep that have kept us out of the poor house. Thankfully, I am still healthy and able to do the work necessary to maintain what we have.
As I said earlier today, thanks to The Booshes, Clinton and Obola, the 21st Century has, thus far, been a complete bust! And for that reason, all of them should be shunned by all of us. This bullshit of all of them refusing to support Trump’s candidacy until after he had won without them is shameful. Thankfully, Booshe’s dickhead idiot brother is forever gone from the political scene. His planned “it’s my turn coronation” would have assured the final destruction of this country with the election of Hitlary. Shame on all of us for not demanding better leadership. Let’s hope that Donald Trump means to do what he has promised, and that he will be able to accomplish his goals despite the RATS and RINOS!
“But but but PEAK OIL!!!!!!”
With much more efficient cars and the growth in electric cars and higher supplies, the thing oil companies have to worry about is peak oil prices.
Barring government regulations and taxes, we could see gas prices go well below the $2/gallon price.
And I loved seeing him vanquished...as much as I loved Hillary going down for the count.
We should be done with them both...........
While the Housing Bubble burst on GWB's watch and he is thereby assigned responsibility, it wasn't his actions that caused the collapse.
Instead, you have Chuckie Schumer, Chris Dodd and Barney Frank to thank for your difficulties. They are the ones who "made it happen". Oh, not to mention the Democrat Senators as a group, who filibustered the bill designed to correct the problems (the 2005 Mortgage Lending & Financial Reform Act).
And don’t forget, there’s still the whole continent of Antarctica...
And the willingness of some people to drill THROUGH BAMBI’S HEAD for another half-barrel :)
This (Texas now and Dakotas 2013) represents somewhere in the neighborhood of $100-to-$150 Trillion.
Might help make a dent in that $20-Trillion debt we're watching the "clock" on.
IMHO.
The highest concentration of atmospheric methane on the continent is found above the 4-corners area, which is a major producer of oil & gas.
Interestingly, satellites have identified the area on the globe with the highest photosynthesis activity -- which is where the greatest oxygen production would be going on.
To the enviros dismay, it is NOT the Amazon Basin.
It is the American Corn Belt.
The stuff is miles down.
Do you suppose this is the beginning of a trend among the federal agencies to curry favor with the new president?
“I have good news! Don’t close me down.”
I’m surprised that the USGS was even out looking for oil — under the Obama regime?
The USCGS doesn’t look for oil. They’re in charge of mapping proven formations and estimating their content for statistical purposes.
That should read that they finally admitted what has already been known about the Wolfcamp play. We;ve been drilling the Wolfcamp for years.
Did the USGS really discover this?
Or did Conoco and well drillers discover this?
Who gets the credit?
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