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The devastating fallout of the Biden administration's job-killing rampage continues after he canceled the sale of 80 million acres of Gulf of Mexico oil leases that was scheduled for Wednesday in New Orleans, KLFY-TV in Lafayette, Louisiana, reported Monday. “It would kill our state. It would kill workers,” Mike Moncla, president of the Louisiana Oil and Gas Association, said of the Biden administration's move. “It would kill jobs, and it would be a terrible thing.” According to the Moncla and the association, nearly 250,000 Louisiana residents work in the oil and gas industry, and 98,000 of them have offshore jobs.

West Texas has seen its share of oil booms, but the people there say this one is unlike any they’ve seen. Driven by shale drilling, a gusher of crude production has transformed the Permian Basin into America’s hottest oilfield, turning what was a remote stretch of towns spread among mesquite trees and scrubland into an industrial zone, seemingly overnight. Oil prices have fallen about 25% since October to around $57 a barrel. But West Texas residents are hopeful the boom won’t go bust soon because companies have pumped billions into building out the oilfield, and drilling is not expected to...

Millions of acres worth of requests for oil speculation on federal lands were submitted in Nevada just years before former President Barack Obama designated two national monuments in the state, the Center for Biological Diversity (CBD) found Friday. Expression of Interest (EOI) documents are submitted to state Bureau of Land Management (BLM) agencies for any parcel of federal land that prospectors think may produce oil. The BLM is then required by law to study the area and decide whether it should be leased to an oil company for development. The Nevada EOIs are mostly worthless and a waste of taxpayer...

California may be on the cusp of an oil fracking boom along its 1,750-square-mile Monterrey Shale Formation, which is potentially the richest shale oil reserve in the United States. Earthquakes have disturbed the layers of shale rock that run under most of the western state, making fracking more challenging than in a region like North Dakota. But when the next cyclical El Niño brings the huge amounts of water necessary for fracking, California could experience an economic boom similar to North Dakota’s oil rush.

Why This Oil Baron Thinks U.S. Oil Production Could Double By Adam Galas | More Articles August 17, 2014 | Comments (0) America's oil production is on a roll. After peaking in November of 1970 at 10 million barrels per day (bpd) and declining for nearly 40 years to a low of just 5 million bpd in 2008, today's oil production has soared 67%. The Energy Information Administration (EIA) is expecting another 13.6% increase by 2016 to 9.5 million bpd, before production tapers off in 2020. This miracle has been made possible by soaring shale oil production out of Texas...

Much larger than Eagle Ford and once thought to have reached peak production, new technology has brought us full circle back to the Permian Basin in Texas and New Mexico, where the recent shift to horizontal well drilling has rendered this play the unconventional ground zero. Determining where the next real oil boom will be depends largely on following the technology, and while the Permian Basin has been slower than others to switch from vertical well drilling to horizontal drilling, horizontal has now outpaced vertical, and investors are lining up to get in on the game. Until about 12 years...

Shocking Prediction: The 'Second Phase' Of The Oil Boom Could Eclipse The First By Jody Chudley December 31, 2013 Shocking Prediction: The 'Second Phase' Of The Oil Boom Could Eclipse The First Five years ago the idea of an oil boom happening in the North America was not much more than a dream. Today, the U.S. is on pace to overtake Saudi Arabia as the world's top oil producer by the end of the decade. It isn't as though the oil industry didn't always know that formations such as the Bakken in North Dakota and Eagle Ford in Texas contained...

The developed world is slowly emerging from the Great Recession, but a question lingers: How fast and how far will the recovery go? One big source of pessimism has been the idea that we are running out of investment opportunities – and have been since before the 2008 crash. But is that true? The last big surge of innovation was the Internet revolution, whose products came onstream in the 1990s. Following the dot-com collapse of the early 2000s, speculation in real estate and financial assets – enabled by cheap money – kept Western economies going. The post-2008 slump merely exposed...

* US crude production forecast to reach 7.5 mbd by 2019 * Imports as share of energy production seen sliding * US seen as net LNG exporter by 2016 U.S. oil and gas production over the next two decades will be higher than previously expected, the government said on Wednesday, underscoring the push toward greater energy self-sufficiency and more exports of natural gas. In its annual outlook, including the first forecasts through 2040, the U.S. Energy Information Administration said imports as a share of total U.S. energy production, including oil, gas and renewables, would be 9 percent by 2040 against...

GOLDMAN: The Shale Oil Revolution Is Real, And It Will Have A Massive Impact On The Global Economy Rob WileDec. 5, 2012, 7:55 PMWe are seeing calls that, thanks to shale drilling, the U.S. is poised to become the world leader in oil production, leading some to begin invoking "Saudi America." Today, Goldman Sachs analyst Kamakshya Trivedi, weighed in on the global macro implications of this phenomenon in a note titled: The shale revolution is changing the global energy landscape. The note actually goes further, talking about how the entire economic landscape could potentially change. The main impact, they write,...

The only chapter missing from Pradipkumar Vora’s “American Dream” is the one with the happy ending. In just four years, Vora has gone from providing room service to pay for his rent at the Wildflower Inn to owning the same Cuero motel. Vora is now capitalizing on the oil and gas boom by constructing an RV park behind the Wildflower Inn and has plans to build a Taco Bell restaurant nearby on Esplanade. But despite being one of the most successful buesinessmen in Cuero, Vora, along with his wife, Kokila, are far from content. Overcoming tragedy Vora was raised in Mumbai,...

With oil exploding under the sea, the Alberta oilsands suddenly don't seem that...'dirty'. Now, all we need is to get rid of the idiot in charge.

Denver City first built literally from scrap B.L. Dulin & Sons born from leftovers of Texas oil boom BY JOHN REYNOLDS AVALANCHE-JOURNAL DENVER CITY — Although many businesses are built from scratch, the first business in Denver City was built from scrap. Scrap lumber, that is. Walter "Dub" Dulin, 91, built the B.L. Dulin & Sons filling station in July 1938, a year before Denver City was incorporated. As he tells it, the lumber was left over from a Shell Oil Co. camp. During the area's oil boom years, oil companies built housing for their workers. Dulin was walking by...