THE US HAS "MORE THAN ALL THE MIDDLE EAST PUT TOGETHER" ( oil )

Atlas Shrugs ^ | October 10th | Pamela Geller

[Halfmanhalfamazing]

Thanks.

This may not make a difference though if cap and tax passes.

[Halfmanhalfamazing]

Whoa that is the second excellent link given in this thread.

Have you seen one that shows seeps nationwide?(U.S.A.)

Thanks.

[wolf78]

Damn straight, we have more oil than OPEC!

Naah, it's more difficult than that. "Technically recoverable oil" is like 100% electricity from solar and wind. Or hydrogen fuel cell cars. It's sure doable even today, if you don't look at the costs. And it will be done in the future when demand is high enough.

But right now, in most cases, there are cheaper alternatives. So what really matters isn't "technically" but "economically recoverable oil" (Which I'm sure there's still plenty to find in Alaska or off the coast).

Why do so few people understand economics?

[paulycy]

Why do so few people understand economics?

Govt schools.

[Lurkina.n.Learnin]

At the northern tip of the outlined area is Petrolia, the site of the first oilwell in California.

http://en.wikipedia.org/wiki/Petrolia,_California
Petrolia (formerly, New Jerusalem and Petrolea) is an unincorporated community in Humboldt County, California

“The place was originally called New Jerusalem; when the first oil was pumped in 1865, it was renamed Petrolia.[2] It was the site of the first oil well drilled in California. The oil was very fine and ultimately dried up.”

That map at http://geomaps.wr.usgs.gov/seeps/where.html shows the oil fields in socal but would lead a person to believe that it is just gas up north. After seeing these threads
A California ‘Black Gold’ Rush
http://www.freerepublic.com/focus/f-news/2350368/posts

“But Occidental felt there was more to be found and that the technology for finding and recovering it had advanced somewhat from that day in 1859 when America’s first well was drilled in Titusville, Pa.

It was only a matter of time before the “code” of California’s seismically fractured underground was deciphered. That code was cracked this summer, when Oxy announced that it had found the equivalent of between 150 million and 250 million barrels of oil and natural gas in an undisclosed part of Kern County.

“In our view, Oxy’s declared discovery may only scratch the surface of the ultimate potential of its acreage in the San Joaquin basin,” said Doug Leggate, an oil analyst at investment firm Howard Weil Inc. “We suggest the resource potential could reasonably exceed 1 billion barrels.”

New oil find in California
http://www.freerepublic.com/focus/f-news/2346942/posts

I believe that drilling technology has changed so much since that oilwell in the 1860’s that there is oil and gas the full length of California on and off shore. What do you think with your experience in the industry ?

[thouworm]

yes; nearly as disastrous as Obamacare