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Feds Discover Largest Oil, Natural-Gas Reserve in History
National Review ^ | December 6, 2018 | MAIREAD MCARDLE

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 ...


TOPICS: Business/Economy; Government; News/Current Events; US: New Mexico; US: Texas
KEYWORDS: drillbabydrill; energy; interior; natgas; naturalgas; oil; palinwasright
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To: reaganaut1

Clarification: this resource, while enormous, is not the largest ever found worldwide. It is the largest directly assessed by USGS.

Fabulous, incredible news in any case, but the post may give the impression this was the largest ever worldwide.


21 posted on 12/06/2018 2:42:08 PM PST by Trump_the_Evil_Left (FReeper formerly known as Enchante (registered Sept. 5, 2001), back from the wild....)
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To: Paladin2
USGS is doing seismography and exploratory drilling?

That is my question as well...since when does the USGS conduct grass-roots exploration projects?

It may be that the GS has compiled reservoir reserves from independents' drilling on Federal leases??

22 posted on 12/06/2018 2:42:22 PM PST by Cuttnhorse (Never fear the cow)
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To: seawolf101

Is this not the San Juan field north of Farmington NM?

Drilling has been ongoing there for years


23 posted on 12/06/2018 2:42:31 PM PST by bert ( (KE. N.P. N.C. +12) Invade Honduras. Provide a military government)
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To: reaganaut1

Wheee...that quantity of “natural gas liquids” oughta bring down the cost of gasoline!


24 posted on 12/06/2018 2:42:38 PM PST by Wonder Warthog (The Hog of Steel and NRA Life Member)
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To: reaganaut1

Oil and Gas for days ,LOL, ya right we should have run out 20 years ago


25 posted on 12/06/2018 2:42:49 PM PST by butlerweave
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To: Eric in the Ozarks

Might need thorazine.


26 posted on 12/06/2018 2:43:44 PM PST by wally_bert (I will competently make sure the thing is done incompetently.)
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To: reaganaut1

At current Natural Gas consumption levels, this field alone can supply 10 years.


27 posted on 12/06/2018 2:48:19 PM PST by taxcontrol
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To: reaganaut1

Peak Oil was back around 2008, about 20 years before we were going to get the Next Ice Age, and just before Global Warming (aka Climate Change) became a thing.


28 posted on 12/06/2018 2:48:40 PM PST by glorgau
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To: Paladin2

I wondered about that as well. the *FEDS* are looking???


29 posted on 12/06/2018 2:50:19 PM PST by Blueflag (Res ipsa loquitur: non vehere est inermus)
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To: reaganaut1

Very misleading headline. No news here. The Delaware Basin has been in active exploration for several years now. And oh by the way, the Federal Government had -0- to do with discovery and development of this basin. 100% drilled, discovered and developed by private oil and gas companies risking capital in the free market system.


30 posted on 12/06/2018 2:50:32 PM PST by con-surf-ative
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To: reaganaut1

Musical version: http://m4gw.com/videos/950-drill-baby-drill

31 posted on 12/06/2018 2:51:19 PM PST by RightGeek (FUBO and the donkey you rode in on)
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To: bert

Nope....Farmington is the San Juan Basin...this is SE of Farmington in the Delaware and Permian Basin.


32 posted on 12/06/2018 2:51:35 PM PST by Hogblog
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To: Cuttnhorse

There could easily be forced data sharing of various private exploration efforts on Fed land that they (USGS) are able to integrate.

It sorta makes sense except for the parcel extraction lease bidding process where the many could unethically benefit from the expenditures of the few if the USGS didn’t have appropriate data privacy.


33 posted on 12/06/2018 2:52:50 PM PST by Paladin2
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To: bert

Actually, it’s the Delaware Basin in West Texas and Southeast New Mexico. The oil and gas industry has known about it for about a hundred years. But the federal government just now figured out that it was there. So, they “discovered” something everybody else was aware of around 1920.


34 posted on 12/06/2018 2:52:59 PM PST by Milton Miteybad (I am Jim Thompson. {Really.})
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To: reaganaut1

Drill Gaia like a drunken prom date!


35 posted on 12/06/2018 2:53:24 PM PST by mozarky2 (Ya never stand so tall as when ya stoop to stomp a statist...)
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To: reaganaut1

7 years worth? That’s it? Shouldn’t it be 70?


36 posted on 12/06/2018 2:56:22 PM PST by Salvavida
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To: reaganaut1

Cool!


37 posted on 12/06/2018 2:56:25 PM PST by Anti-Bubba182
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To: reaganaut1

I think the name needs to be changed. “Delaware” Basin? Joe Biden is from Delaware. Not good.


38 posted on 12/06/2018 2:57:24 PM PST by 43north (Its hard to stop a man when he knows he's right and he keeps coming.)
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To: reaganaut1

Frack-a-laka


39 posted on 12/06/2018 2:58:17 PM PST by rktman ( #My2nd! Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH)
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To: reaganaut1

It doesn’t matter. We will just ship it all over seas for a little or nothing and then buy overseas oil for a fortune.


40 posted on 12/06/2018 2:58:43 PM PST by Revel
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