Posted on 09/12/2016 4:22:31 PM PDT by 2ndDivisionVet
By completely overhauling the old rules of the business.
Last week, the Wall Street Journal reported on an energy bonanza. A company discovered a new field with “the equivalent of at least two billion barrels of oil” that “has the promise to become one of the biggest energy finds of the past decade.”
But the discovery wasn’t made by a foreign company in the Amazon, or deep in the waters off the coast off Africa, or in Kazakhstan—or any of the other politically treacherous, high-risk, low-infrastructure places where Big Oil has been prospecting for gigantic new gushers. Instead, the lucky firm was Texas-based Apache Corporation, which struck black gold in Texas’s Permian Basin, one of America’s most prolific and picked-over sources of oil and natural gas for decades. It’s as if vintners discovered millions of acres of previously unknown prime grape-growing territory in the Loire Valley. Or the owners of Vail Mountain suddenly happened upon miles of previously untouched ski slopes...
(Excerpt) Read more at slate.com ...
No such thing.
Because peak oil.
Also, it’s getting colder because of global warming.
Get your minds right, you deplorable basket cases.
/s! /s! /s!!!
Haha, Slate, in your face!
I have a relative in the fracking equipment industry. He says that one of his customers can now produce oil at $2.50/bbl.
Frack you, Saudia Arabia!
Could it be that the Earth produces oil a lot faster than previously thought?
“Could it be that the Earth produces oil a lot faster than previously thought?”
NO! Because all oil is dino oil and humans are destroying the Earth and will be evelutioned out of existence anyway within 1 million years! /s
Aren’t there scientists convinced that oil is a plant like biologic substance?
How? They know it is there so they think and work hard to come up with ways to get it out. Why? To make money and to piss off the kind of people that work at Slate.
I wonder if the find is called the “Alpine High” because it is close to Alpine, Texas?
I’ve heard that number in Permian basin
No, not from dinosaurs. From something else.
Great article until it slips down the greasy slide of wind generation.
Just like the media look hard for racism, sexism, etc and find it the energy industry finds what it looks for.
The “Trump IS the next POTUS” Prophecy says that under Trump/Pence Administrations the United States will enjoy an extravagance of wealth and prosperity never ever seen on the planet before. This oil is just a small harbinger of what’s on the way.
The “Trump IS the next POTUS” Prophecy says that under Trump/Pence Administrations the United States will enjoy an extravagance of wealth and prosperity never ever seen on the planet before. This oil is just a small harbinger of what’s on the way.
Thanks for the link.
Here’s how. Energy companies keep their mouth shut until they are ready to tap and produce. If Energy companies let their secrets out the Obamatons would be on them like whit on rice on a paper plate in a snow storm. The EPA would shut down every well. The environmentalists would find the Green horned lizard that ONLY lives where the wells are going to go.
We live in a planetary system where atmospheres are composed of hydrocarbons and have surfaces of liquid hydrocarbons. BUT, oil on Earth comes from dinosaurs and is unnatural....
Maybe because the earth produces oil as a natural phenomenon.
I’ve read where plugged/dead wells in La. were re-visited years after shutting them down as they were non-producing.
They were later found to be productive.
Disclaimer - My dad was a La. based geophysicist (and a Normandy vet) so I kinda read about this stuff.
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