Posted on 02/09/2011 1:07:50 PM PST by Son-Joshua
A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day — more than the entire Gulf of Mexico produces now.
This new drilling is expected to raise U.S. production by at least 20 percent over the next five years. And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.
"That's a significant contribution to energy security," says Ed Morse, head of commodities research at Credit Suisse.
Oil engineers are applying what critics say is an environmentally questionable method developed in recent years to tap natural gas trapped in underground shale. They drill down and horizontally into the rock, then pump water, sand and chemicals into the hole to crack the shale and allow gas to flow up.
Still wish that Bush would have made drilling oil/gas a national security issue and prompted congress to pass legislation to drill domestically. The mood of the nation after 9-11 would have likely supported it. No future president, including the muslim, would try to change the law for fear that a domestic attack would be interpreted as being the cause.
Greenies hate everything that ain't in Marx's writings. Green is truly the new red!
I do disagree with one statement, though.
At today's oil prices of roughly $90 per barrel, slashing imports that much would save the U.S. $175 billion a year.
Slashing imports wouldn't save us a dime. We would still pay $175 billion for the oil. Just because it's made here, doesn't mean it's free. Dumb reporter.
I thought that W should have signed and executive order(that is how it was created in the first place) to make the Escalate National Monument about 1 acre in size.
This is right up your alley Joe.
The Left has largely shut down drilling and exploration on the BLM lands there.
Remember this when Sen Udall is up for re-election in 14.
He is responsible for this.
I could be working there.
bookmark
I can't speak for elsewhere, as I am not familliar with the well plans in Texas nor in Pennsylvaina, but out here, when the frac job is done there are two casing strings cemented in the hole above the pay stratum, which is roughly 10,000 ft. below the surface.
The cement jobs on those casing strings are pressure tested, then logged with a tool which can show the quality of the cement job (known as a Casing Bond Log, or CBL). State inspectors have to pass that before the frac happens.
In other words, the chances of down hole frac fluids contaminating any near-surface aquifers are zero.
So much for environmentally questionable, at least in the 7 states I have worked in.
Yet the EPA wants a one-size-fits-all set of rules (ban) which would end these plays for all practical purposes.
Not only would this bring the few healthy areas in this economy to a screeching halt, it would further put the US behind the curve for energy self-sufficiency.
Things were slow but steady before that here, and I still recall the bumper stickers which said "Please God, give us one more oil boom. I promise not to pi$$ it away this time."
Now, If I can just keep my half of the bargain...
Not to mention felt insoles in your winter boots... You can feel the noise.
Quite right - thanks for clarifying. I do recall it looking very much like a payoff to his major Indonesian contributor.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.