Posted on 12/06/2018 3:29:18 PM PST by Hojczyk
This is terrific news for American workers and consumers… Unless, of course, Democrats ever regain control of government.
Science Daily reported:
Today, the U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.
“Christmas came a few weeks early this year,” said U.S. Secretary of the Interior Ryan Zinke. “American strength flows from American energy, and as it turns out, we have a lot of American energy. Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation.”
“In the 1980’s, during my time in the petroleum industry, the Permian and similar mature basins were not considered viable for producing large new recoverable resources. Today, thanks to advances in technology, the Permian Basin continues to impress in terms of resource potential. The results of this most recent assessment and that of the Wolfcamp Formation in the Midland Basin in 2016 are our largest continuous oil and gas assessments ever released,” said Dr. Jim Reilly, USGS Director. “Knowing where these resources are located and how much exists is crucial to ensuring both our energy independence and energy dominance.”
(Excerpt) Read more at thegatewaypundit.com ...
The difference between the US and SA is that SA can extract their oil for 1-2 dollars a barrel, the US is far higher. We have also been lied to for many years about the Saudi reserves. They are sitting on trillions of barrels of oil and can decimate any market at anytime. The price of oil could go to 20 and they would make money while US shale producers are filing bankruptcy.
They are always a fun project(s)
self ping
Ha!
I paid $1.92/gal here in Montgomery AL to fill up my truck. Costco across town is currently at $1.89/gal.
Russian shale reserves are even greater; they have reason to be happy as technology improves.
But... but... but... PEAK OIL!
Right? Hard to not be depressed at getting a socialist loser next time in the wh. We should calexit for a better chance.
And now Snyder looks better than he ever did with Gretchen coming in. Ugh. Why are we turning blue again?
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