Posted on 12/06/2018 2:26:32 PM PST by reaganaut1
The federal government has discovered a massive new reserve of oil and natural gas in Texas and New Mexico that it says has the “largest continuous oil and gas resource potential ever assessed.”
“Christmas came a few weeks early this year,” Secretary of the Interior Ryan Zinke said of the new reserve, which is believed to have enough energy to fuel the U.S. for nearly seven years.
In all, the new reserve is said to contain 281 trillion cubic feet of natural gas, 46.3 billion barrels of oil, and 20 billion barrels of natural-gas liquids, the Interior Department’s U.S. Geological Survey said.
Almost a third of the U.S.’s total crude-oil production comes from the Permian Basin where the reserve was found, making it the biggest shale-oil-producing region in the U.S.
(Excerpt) Read more at nationalreview.com ...
We should cut a deal with Mexico to explore and extract petroleum there to pay for the wall.
Is this a new Horizon in the Permian?
USGS Report Expands Permian’s Wolfcamp, Bone Spring Potential Bounty
Velda Addison Senior Editor, Digital News Group Hart Energy Thursday, December 6, 2018 - 2:23pm
2018 date
I always liked the idea of Bio-Diesel from solar grown algae, but it seems to be much like Fusion. Just 20 years away.
Dude, don’t be so sustainable...
Funny.
The GOPee are toast.
Even PRyno knows this as he is run off.
Only in a Base10 world.
Try casting out eights in Base9....
[I know the academics have come up with new terminology, but screw ‘em...]
They do assessments of data collected by others, but have been known to do seismographic tests on unleased lands.
From the USGS page on this story:
USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of onshore lands and offshore state waters. The USGS Delaware Basin Wolfcamp shale and Bone Spring Formation assessment was undertaken as part of a nationwide project assessing domestic petroleum basins using standardized methodology and protocols.
What’s this New Mexico I see on your map? Is that some kind of foreign country? It’s certainly not a state. I guess we’ll have to ask their permission to drill.
You got me. Just think about who profit$ off the “carbon economy” because of the climate change/nonrenewable oil hoaxes.
Then ask yourself why China and India and even Mexico aren’t being penalized for their CO2 emissions, which are millions of times worse than the US...
I stopped using the term fossil fuel a long time ago. I call it hydrocarbons. We have only drilled a few short miles into the Earth. Who knows just how much oil and natural gas lie beneath the surface of the Earth. There are oceans of hydrocarbons on the moons of Jupiter and Saturn. I sincerely doubt that ancient dinosaurs and savannahs morphed into hydrocarbons on these moons.
bmp
Yep I like this ... US now can look seriously into some sort of natural gas to power vehicles, should the powers that be find gas and electric (already teddering on brink of no demand) unacceptable.
Ahnuld will go back in time and prevent the deposits from forming to Save The Planet.
I read that he just took delivery of a new Bentley convertible.
Maybe he can stay back in time...
We’ll find out in a few years.
First order of business is getting him reelected.
Hmmm, when exactly was that “Peak Oil” thing supposed to happen?
Oopsy.Looks like wikipedia needs some editing. (and they’re begging for money from the US right now)
>> According to the International Energy Agency, conventional crude oil production peaked in 2006.[5] A 2013 study concluded that peak oil “appears probable before 2030”, and that there was a “significant risk” that it would occur before 2020,[6] and assumed that major investments in alternatives will occur before a crisis, without requiring major changes in the lifestyle of heavily oil-consuming nations. Pessimistic predictions of future oil production made after 2007 state either that the peak has already occurred,[7][8][9][10] that oil production is on the cusp of the peak, or that it will occur soon.[11][12]
Hubbert’s original prediction that US peak oil would occur in about 1970 appeared accurate for a time, as US average annual production peaked in 1970 at 9.6 million barrels per day and mostly declined for more than 3 decades after.[13] However, the use of hydraulic fracturing caused US production to rebound during the 2000s, challenging the inevitability of post-peak decline for the US oil production.[14] In addition, Hubbert’s original predictions for world peak oil production proved premature.[6] Nevertheless, the rate of discovery of new petroleum deposits peaked worldwide during the 1960s and has never approached these levels since.[15] <<
Actually that is going on now. There are companies that are converting over the road trucks to run on natural gas. Also the railroads are starting to convert their engines to run on it too.
Actually that is going on now. There are companies that are converting over the road trucks to run on natural gas. Also the railroads are starting to convert their engines to run on it too.
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.