"I just don't know what went wrong!"
Posted on 05/23/2014 5:56:46 AM PDT by thackney
The same government group is raising the producible reserves in the Bakken and Eagle Ford.
"I just don't know what went wrong!"
Actually they do know and have said so. The stated the bad assumption in the original report of using production rates from other specific fields that have little to do with the Monterey other than the word “shale”.
They now have enough production data to show just how bad that assumption was.
"...new competition from alternative sources, namely solar and wind..."
What I think they meant to say: "...additional taxpayer subsidies of solar and wind..."
Sorry, I’m not really part of this conversation. Any excuse to post a pony!
Exactly. The current admin has more to gain by poo-pooing reserves.
I thought light vehicles in the US only accounted for about 15% of oil demand?
Lol! Touche.
This shows 60% of all transportation energy is light-duty.
93% of transportation energy is petroleum. 72% of all petroleum is used for transportation.
I would estimate 40~45%
That chart is only the oil demand for transportation, right?
I believe it is all energy sources, but by the second, that is 93% oil.
“The majority of oil produced from the Monterey appears to have migrated, owing to the fractured nature of much of the Monterey. The existence of very extensive areas of uplifted mature source rock with non-migrated oil comparable to plays like the Bakken is highly speculative.”
That would seem to be the “money” quote.
California. ‘Nuff said.
Escuse me, his name is "Tina!"
Now Thackney, that website that's linked has a name that makes me a little suspicious before I even go there to check it all out. Do you know this author or the blog she's writing for or any of there bona fides???
Didn’t read the author’s name.
He/she, what’s the difference? Stupid transcends sex.
I picked her article to post because it gave some nice summaries, expressed not too much opinion and did a good job of sourcing the original documents in the weasel words used in the original “estimate”.
I posted the whole article. Nothing more to see.
I don’t find any real opinion expressed, just a comparison of what was original and changed.
my 2¢, worth nothing more...
Hey you never let me down! You da MAN!!! (no kiddin)
> Also contributing to downward pressure on oil prices is new competition from alternative sources...
Yeah, I laughed too.
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