Posted on 02/03/2013 8:23:34 PM PST by 2ndDivisionVet
The US shale boom has led some to predict that it will overtake Saudi Arabia as world’s largest oil and gas producer by 2020, thanks to the massive reserves found in plays such as the Bakken Shale of North Dakota, the Marcellus Shale in New York, and the Eagle Ford Shale in Texas; even the newly discovered Tuscaloosa Shale formation in Louisiana holds large potential.
However there is a new shale formation that has been discovered in West Texas which could dwarf all others being drilled in the US at the moment.
The play is known as the Cline Shale play and has been discovered in the Permian Basin.
John Breyer a geologist at Marathon Oil Corp.(NYES: MRO) said that this new discovery could dwarf anything that exists in North Dakota...
(Excerpt) Read more at oilprice.com ...
The Green River formations are oil shale and are not feasible: some day, perhaps, but not now.
He may leave this alone as West Texas has far less population that NY and PA, so fracking and potential water damage would be less likely. Also, with so much potential I wonder if US oil interests may lobby against facilitating competition with Canada and the FX Pipeline. The FX run south from Cushing makes sense with so much US oil potential.
He may leave this alone as West Texas has far less population that NY and PA, so fracking and potential water damage would be less likely. Also, with so much potential I wonder if US oil interests may lobby against facilitating competition with Canada and the FX Pipeline. The FX run south from Cushing makes sense with so much US oil potential.
That statement is not factually accurate.
Remember: There are billions of barrels we can recover today that were out of our reach just decades ago. That means that technology soon will probably give us that which is now impossible to reach. Plus, some new form of energy is almost certainly bound to appear before we use up fossil fuel.
“He may leave this alone as West Texas has far less population that NY and PA, so fracking and potential water damage would be less likely.”
While the pollution problems associated with fracking would impact less people in West Texas, President Obama’s greater concern is about climate change. Because continued dependence on fossil fuels will delay the transition to alternative fuels, I think the EPA will still kill fracking.
He is in for an education.
He has opened pandora’s box with the gun grab BS. Not just in TX. He has not got enough stupid goons to do what he would like to do.
And it is not just the citizens of Texas that are defying Obozo. The State officials are right there too.
A time is coming when his conjured past is going to eat him alive. The most corrupt administration in the history of the U.S.
If those fields are so great, why is CA bankrupt?
AGW/Climate Change BS
You won’t last long here Troll.
How much gas is likely to be recovered versus how much oil. Gas as fuel is a lot less air polluting, so the ratio might affect decisions. Also, the Canadian tar sands oil production is far more polluting that underground oil shale.
It would if dollars were inflated til oil was about $1000/barrel.
On a related note, recent price of gasoline is $0.16/gal priced in pre 1965 US silver coinage...
According to Wikipedia, as of 2005, the US had reserves of 2 trillion barrels of shale oil. Oil is near $100 a barrel right now. So technically we do have enough shale oil to pay down our debt and even our unfunded liabilities. But it is pretty disturbing how much of this enormous resource we would have to sell off to pay down our debt.
What pollution problems associated with fracking? Some drilling mud which is already required to be processed and disposed of properly?
The alleged subsurface problems are about 99% bulls***...
I love peak oil! It just keeps peaking and peaking and ... ;^)
Therein lies the problem...the oil is still in the ground and likely to remain there for some time.
Gas went up again today.
I laugh every time I hear people seriously talking about "Peak" oil.
Ten years after Drake's well came in they were predicting that oil had peaked and we would be dry in a few years.
In the last ten years there is a report every few months of a new find that DWARFS the last big find. DWARFS it. lol
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