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Posted on 10/20/2012 2:34:17 PM PDT by 2ndDivisionVet
Drilling companies beginning to explore the Utica shale got a piece of good news Friday when the U.S. Geological Survey estimated the rock formation in Ohio, Pennsylvania and other states holds enormous reserves of natural gas and oil.
Releasing its first estimate of the Utica, the USGS calculated the shale formation holds about 38 trillion cubic feet of undiscovered, recoverable natural gas, 940 million barrels of oil and 9 million barrels of natural gas liquids like ethane and propane.
The Utica lies beneath the Marcellus shale...
(Excerpt) Read more at pennlive.com ...
This is not really new knowledge—some government bureaucrats must have been desperate to keep busy to justify their outrageous salaries.
Or trying to figure out a way to justify their jobs during the Romney/Ryan Downsizing. .....
Thanks 2ndDivisionVet.
But, but... peak oil! We’re running out of energy. And, globull warming, and meteors!
‘Peak cheap light oil’ ~ there’s still plentiful expensive heavy oil somewhere ~ but the big story at the moment is natural gas. We can convert our surface transportation industry to it in short order.
This is (obviously) way below the drinking water that wells tap into. The only contamination can come from leaks and misuse of fracking compounds so rein in the idiots (prosecute them) who ruin it for the honest gas exploration outfits
For those who want to see a short 6 minute video showing how horizontal drilling and fracking is done. This includes a piece on how groundwater contamination is avoided: http://www.northernoil.com/drilling
The Obama EPA is sad to hear this. So is Iran and Russia.
It’s nice to draw a fat paycheck and also have tons of money in the bank. That’s the situation we find ourselves in with these two reserves, not to mention North Dakota, the Barnett Shale in North Texas and all the others. I suspect the reserves in Alaska are much bigger than what has been found so far, don’t you?
I agree about AK. More than likely there are huge undiscovered reserves in AK.
Cuomo hasn’t even hired the consultants to complete the feasibility and safety studies. Jobs are going to PA, WV, and Ohio. New York just raises taxes and bridge tolls.
If someone lives there, they have only themselves to blame. Here, we squeeze the oil out of everyone’s hair to make gasoline. LOL
In a discussion with a Freeper who was a protoge of the gent who did the original estimates of ANWR vs. using the 3D mapping thought of the top of his head ANWR is probably 5 times the Original estimates...
Their was a story a while back in the NYT posted or referenced here, that they Cuomo is aware of the $ and it sounded like they were negotiating with the Greenies to give them a piece of the action or control. In the mean time they are behind the curve a few years IMHO...
I have friends just North of the 2 fields in Up-State NY, I feel for them, but I am not sorry for the ruling liberal-loons in NY that have screwed everyone in the state with this one and so many other issues like shutting down Shoreham Nuke Plant just before it was ready to go on line.
So many NY'ers are getting the Gov't they deserve, they voted for it, and so many that have had enough have left...
Obama has always been in love with oil and gas. This is conclusive proof.
And don’t ever forget...we’ve always been at war with East Asia.
Correct.
Now if we can get the pantytwisters to stop fretting about hydrofracking...
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