Posted on 03/12/2017 8:32:52 AM PDT by rktman
Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades.
The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices.
The new discovery was made in just the past few days in Alaskas North Slope, which was previously viewed as an aging oil basin.
Spanish oil giant Repsol and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day.
The oil resources lie in a well, called Horseshoe, thats 75% owned by Denver-based Armstrong. Repsol owns the rest of this well.
(Excerpt) Read more at ktla.com ...
“I live in Florida and when I visit California is almost $1.00 more per gallon for 93 octane.”
Here in California the state mandates “specially reformulated gas” for the winter, so the state is closed to refiners that are out of state. I think it forces Nevada to buy it too because they have no in-state refining capacity. Was just in Vegas last weekend and gas prices there were as high as they are in CA.
I still think there is some merit to believe that the earth is manufacturing oil by its own internal physiology...
“Why is gas at the pump close to $3.00???”
Because, due to the ‘environmentalists’ America hasn’t been allowed to build a refinery in over 30 years.
Two words. Democrat Governor.
Autor doesn’t know his facts.. the Bakken Shale/Three Forks play has aleady produced over one billion barrels and should make close to 3 bbbls. The Permian Basin Shale Play in West Texas and New Mexico could be bigger yet and all were really on line in the last 15 years. Tecnically, the Bakken was discovered in 1958, but the shale play developed as the target in the last 15 years.
They probably found it a couple of years ago, and kept it secret for this very reason.
If I had the time, I would use that gas to visit every single Waffle House in the nation.
Pennsylvania tax recently went up from 50 cents to 58 cents per gallon . . .
A quick search for California where I live:
California, 58.83 cents per gallon. The bulk of the Golden State’s gas taxes comes from its excise tax of 30 cents per gallon. The state also collects a 2.25% sales tax on gasoline, plus applicable district taxes.
Breakdown on the actual tax and not the posted one.
http://watchdog.org/232083/california-gas-taxes/
Jerry Brown Wants 42% Gas Tax Hike to Bail Out CalPERS
http://www.breitbart.com/california/2017/01/15/gov-brown-wants-42-gasoline-tax-increase-bailout-calpers/
42 percent increase in gasoline taxes and a 141 percent increase in vehicle registration fees.
I remember reading about them finding a large field in Texas a few years ago. I remember them saying something like “Enough to last us a hundred years or more”. I looked it up article says “3 billion barrels of oil and 75 trillion cubic feet of natural gas”
Drill Baby, Drill.
The peak just keeps getting higher. lol
I can’t even count how many “record setting” finds I’ve read about in the last ten years.
NJ jacked their tax up maybe two months ago. See the chart at #47.
It is still lower than NY or PA so I still drive the six miles into NJ to buy gas...
Why is gas at the pump close to $3.00???
Depends on where you are. I just bought unleaded at $1.96 north of Houston.
Someday :-(
Ed
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