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 ...
Check my Post 46
We were cross posting :)
Have to figure that there is more than that. They always find more in those types of discovery than they estimate.
Feds found it? Seriously? I have many Oil and Gas friends who actually sid, in spite of the government under Obama regulations.
Haven’t read any of the responses but I’m sure a few of them have pointed out that the FED’s didn’t discover a damn thing. They didn’t do any of the exploration or the drilling, they just discovered what those of us in the oil business here in West Texas have known for decades.
Yes, and Gold references this in his book...but it is still a “theory”...unlike man-caused global warming, cooling, whatever.
LOL...happens!
WOW!!
fake news, barkie already said we can’t drill our way to energy independence.
Next they’ll be finding corroboration for abiogenic oil.
CC
Could’ve happen without obama..ha ha
I was enjoying the moment, and you had to bring up the name of that jamoke!
Bad, your rum ration should be cut for that sort of behavior.
More to be found if we explore hard enough.
Look up the word “fungible” and get back to me on that statement.
CC
So I added up the list. This list represents about 175 million cubic meters of gas.
The US now has provens of 7.9 trillion cubic meters. If you combine our provens, with the ROW provens, the number looks like this:
7,900,175,000,000 cubic meters.
In other words, THE REST OF THE WORLD’S PROVEN RESERVES IS A ROUNDING ERROR.
We have 7,900 billions. The ROW has 175 millions.
Sometimes, the numbers get so large it is tough to have perspective on what it really means.
So is this fake news, old news, or no news?
I thought it was every three in the exponent. 3,6,9,12 = 4 orders.
You see my latest post on that thread? The entire provens for the ROW are a ROUNDING ERROR.
We just became the Galactic Price Setter for Natgas. One country all by itself, if this really is true.
#gaiatoo
Funny you mention Carlin. In the '90's I was involved in several projects at both Barrick and Newmont. Spent many hours at both sites (though primarily at the Barrick site).
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