Texas pumping more oil than some OPEC countries

This story gets better. See.
http://www.freerepublic.com/focus/news/3041479/posts?page=1

In the last year, Citibank predicted that the USA would be oil independent in five years. I used to wonder how Eagle Ford and the Bakken could scale up to produce that much oil. And if they did scale up...— the price of oil would fall below what they could produce oil for profitably—so oil production would fall.

Turns out Eagle Ford and the Bakken don’t have to scale up. The next mega oilfield comes out of west texas permian basin in the cline shale formation. This formation is twice as big as Eagle Ford and the Baaken COMBINED.

What’s more they’ll be able to extract the oil in the Cline shale formation at much lower costs than those in the Bakken fields —so even when prices fall their margins will be so high —they can keep on drilling.

We’re coming up to a real sweet spot in the oil patch in the next decade.

The thing is, the Eagle Ford formation extends down into Mexico.
http://fuelfix.com/blog/2013/05/09/u-s-mexico-collaboration-seen-necessary-on-eagle-ford-drilling/

Its a shame Mexico can’t drill for oil/gas there. That would help make that country rich rather than just fat.

Mexico has recently replaced the USA as being the #1 country with fat people.
http://www.itwire.com/science-news/health/60665-mexico-replaces-america-as-fattest-country-in-world

http://www.trentonian.com/article/20130708/NEWS05/130709714/how-mexico-got-to-be-the-fattest-country-in-the-world

Come to think of it, that might be a great republican slogan.

“Help Mexico become rich and not just fat.”

That way fewer illegals would come north and those illegals north of the border would have lesser incentives to stay & send remittances south.

Maybe we should make it easier to Cross the Border? (Both Ways)

Seriously ... Petition Mexico to adopt OUR Immigration Laws, (talk about a transfer of Immigrants).

We know all the reasons it wouldn’t happen, but we argue stupid made up reasons why we can’t secure the Border.

It also works the other way, Adopt Mexican Immigration Policy and get super strict, No Rights, No Property etc.

Either way ... but what we have is stupid to anyone that isn’t a Politician trying to get Re-elected so it won’t change.

We could fix our Border problem with about 1/2 the $ we just gave to Egypt. (and that’s just buying off their Politicians)

Low Information Voters do run this Country, Harry Reid can see many more. (on this path, so do I)

“Help Mexico become rich and not just fat.”

Just recently started listening to Leno. He is really on a roll since he’s going to be leaving soon. Really funny one-liners about Mexicans and their dual citizenship now that they are so fat - half of their body is in Mexico and half in the U.S.

Your suggestion to help them with their drilling program is superb, even though it makes way too much sense. Wonder if Obama would approve the Keystone Pipeline if it went to Mexico from Canada instead of Texas.

I have never understood why we keep sending money to foreign countries and buy their oil as well. None of this makes any sense.

We spent a few days with friends in early June out in the West Texas oil patch. There is activity absolutely everywhere. Wish I was about 40 years younger!

Now, OPEC is earning at least 4 times more money than in the 90s. Outside the Middle East, new drillings are arround 10 times more expensive than drillings in the Middle East. Christopher Helman, Forbes Staff : "Despite the enormous growth in the U.S., the costs of getting that oil out are growing at unprecedented rates. Bernstein figures that the cost of producing the last barrel rose from $89 in 2011 to $114 in 2012 The IEA estimates it costs between $4 and $6 to produce each barrel of oil from the conventional fields in Saudi Arabia and Iraq, including capital expenditures. Algerian, Iranian, Libyan, and Qatari fields cost slightly more, at about $10 to $15 per barrel.

Totally agree with both posts.

I didn’t tell you the worst however; the mexicans are currently buying up 3% of US natural gas. That number will go up to 10% in the next year or two because the Mexicans are switching from coal to natural gas in their electric power plants. That will drive US natural gas prices up considerably from their historic lows.

The mexicans of course don’t need US natural gas. They could get their own.

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