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Massive Oil Discovery in Alaska Is Biggest Onshore Find in U.S. in 30 years
ktla.com ^ | 3/10/2017 | unknown

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 Alaska’s 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, that’s 75% owned by Denver-based Armstrong. Repsol owns the rest of this well.

(Excerpt) Read more at ktla.com ...


TOPICS: Business/Economy; US: Alaska
KEYWORDS: alaska; alaskaoil; bigoil; drillbabydrill; drillnow; energy; oil; palinwasright
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To: Zenjitsuman
Cameron? Just get the Vette.

 photo IMG_0991_zps7gpafhxx.jpg

61 posted on 03/12/2017 11:31:27 AM PDT by Cobra64 (Common sense isn't common any more.)
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To: Blue Highway

“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.


62 posted on 03/12/2017 11:31:56 AM PDT by vette6387
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To: iontheball

I still think there is some merit to believe that the earth is manufacturing oil by its own internal physiology...


63 posted on 03/12/2017 11:35:07 AM PDT by Shady (We WON the Battle, Now let's WIN THE WAR!!!!)
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To: corkoman

“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.


64 posted on 03/12/2017 11:35:27 AM PDT by kagnew
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To: americas.best.days...
DRILL BABY DRILL.....Just think “if we had drilled 10 years ago....when the Damn rats said never never.....we'd be bathing in oil not and not Kissing Saudis asses.
65 posted on 03/12/2017 11:38:43 AM PDT by mastertex
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To: Blue Highway

Two words. Democrat Governor.


66 posted on 03/12/2017 11:39:18 AM PDT by Shady (We WON the Battle, Now let's WIN THE WAR!!!!)
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To: rktman

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.


67 posted on 03/12/2017 11:39:25 AM PDT by richardtavor
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To: Pearls Before Swine

They probably found it a couple of years ago, and kept it secret for this very reason.


68 posted on 03/12/2017 11:47:23 AM PDT by castlegreyskull
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To: rktman
To put this find in perspective, 1.2 billion barrels comes to about 50,400,000,000 gallons of gas. <>That is a lot of gasoline. That's almost 300 gallons for every licensed driver in the United States. Assuming an average of 24mpg, that's 7,200 miles of driving for every licensed driver. Enough to drive from New York City to Los Angeles. And then back again. With plenty of gas left over for side trips.

If I had the time, I would use that gas to visit every single Waffle House in the nation.

69 posted on 03/12/2017 11:48:01 AM PDT by SamAdams76
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To: PapaBear3625
Pennsylvania tax recently went up from 50 cents to 58 cents per gallon . . .

70 posted on 03/12/2017 12:36:58 PM PDT by conservatism_IS_compassion (The idea around which ‘liberalism’ coheres is that NOTHING ACTUALLY MATTERS except PR.)
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To: corkoman

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.


71 posted on 03/12/2017 1:11:59 PM PDT by minnesota_bound
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To: rktman

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”


72 posted on 03/12/2017 1:14:39 PM PDT by freeonefrom (God bless America and our troops.)
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To: rktman

Drill Baby, Drill.


73 posted on 03/12/2017 1:16:59 PM PDT by AFreeBird
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To: headstamp 2

74 posted on 03/12/2017 1:22:39 PM PDT by AFreeBird
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To: riverrunner

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.


75 posted on 03/12/2017 1:26:12 PM PDT by TigersEye (We all have a stake in MAGA! We all need to contribute our efforts.)
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To: Blue Highway
Also surprised NJ tax is so low.

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...

76 posted on 03/12/2017 1:46:08 PM PDT by NoCmpromiz (John 14:6 is a non-pluralistic comment.)
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To: corkoman

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.


77 posted on 03/12/2017 2:11:44 PM PDT by chaosagent (Remember, no matter how you slice it, forbidden fruit still tastes the sweetest!)
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To: chaosagent
⛽️ $2.79 for regular in Reno, NV. No pipelines. All trucked in I believe. 🎰
78 posted on 03/12/2017 2:41:35 PM PDT by rktman (Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?!)
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To: vette6387
Yup! 🐎💩. Summer/winter blends.
79 posted on 03/12/2017 2:43:05 PM PDT by rktman (Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?!)
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To: rktman
We're gonna run out of oil by 1980 1990 2000 2025

Someday :-(

Ed

80 posted on 03/12/2017 2:59:49 PM PDT by husky ed (FOX NEWS ALERT "Generalissimo Francisco Franco is still dead" THIS HAS BEEN A FOX NEWS ALERT)
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