Another well is drilled at the Wolverine Gas & Oil field Wednesday south of Sigurd, Utah (Associated Press)
Wildcatter Strikes Huge Oil Field in Utah
http://kutv.com/topstories/local_story_124174635.html
Oil Prices will drop fast if this ends up being true
Unfortunately, 1 billion barrels will last the US less than 50 days at current consumption rates.
Probably drilled into a pipeline.
I am a skeptic. Have been in the oil patch and have seen too many scams. The bigger they are the more suckers they attract.
I hope I am wrong and this is for real.
I hope and pray this is true.
Many times while flying over the desert areas of this country I've looked out the window and thought how there HAS to be a MAJOR source of oil here that is just waiting to be discovered. I just cannot believe there is not oil in this country.
You guys holding out on us?
:-)
Greenpeace or ELF or ALF or Liberals will now try to shut it down. I see court orders in our immediate future (days at most).
I would love to know what is going on with that oil in Iraq, Saddam managed to turn a profit.
The ME consortiums isn't going to sit on their hands either...they have the estimates of their oil field reserves...and they know they cannot last forever.
There are thousands upon thousands upon thousands of cubic feet of NG out there.
Of course "proposals" are one thing.....I figure there's awhole lot of "duck lining" to be done...With trillion$ at stake.
Interesting to see where it all leads........
FRegards,
Very nice, if true. But it's a bit early to say, judging from this article.
A well-kept secret is that the mid-west (fly-over) has always been a good source of oil. Here in Ohio, one of the earliest producers of oil, there's a renewed increase in drilling and my neighbors have all put in wells...I'm next, drilling this summer.
This reminds me of the cold fusion buzz that came out of Utah a few years ago. The late Wayne Owens, D-Utah, considered it worthy of an infusion of tax-payer funds.
Energy drives our reality, but we refuse to stand up to the lies of the Left and drill in the gulf and in the wilderness, and build more refineries. We seem to prefer "miraculous discoveries" that won't offend the eco-frauds, and there are always people peddling "magic" to drive our unreality.
This reminds me of the cold fusion buzz that came out of Utah a few years ago. The late Congressman Wayne Owens, D-Utah, considered it worthy of an infusion of tax-payer funds.
Energy drives our reality, but we refuse to stand up to the lies of the Left and drill in the gulf and in the wilderness, and build more refineries. We seem to prefer "miraculous discoveries" that won't offend the eco-frauds, and there are always people peddling "magic" to drive our unreality.
since refineries are at capacity, can this oil be processed ? or would it be sold for export ?
This story isn't passing the smell test. Claims aren't proven reserves. They've got 2 wells that are producing so little that they can truck it to the refinery.
Question is: what quality of oil? It's been well-known for years that the western U.S. and Canada have gigantic oil reserves -- making Saudi Arabia look like Israel in terms of oil wealth. Problem is that it's horrifically low quality -- tar sands and oil shale. It would cost more to produce most of it than it's worth at today's prices (although some tar sands are now profitable thanks to the price hikes of the past few years).
A billion barrels of crap is still crap.
Char :)