[ckilmer]

Despite being a true breakthrough, the first phase of horizontal oil production is only expected to recover 2% to 15% of the oil in areas such as the Bakken and Eagle Ford shales.
..............
do you agree with this assessment?

[txrefugee]

As the sheeple fill up their tanks for holiday trips, paying over $3/gal. for gas, do not celebrate this “oil boom” too loudly. Our shale oil will be sent from Cushing, OK to Houston for refining and then shipped to Japan and China.

Our devalued dollar will still be used to price gasoline, unfortunately, so we will still be screwed.

[Ken522]

What’s EOR stand for? Expended Or Recovered?

[Christian1]

Does it mean the Arabs will be swimming in their oil as America won´t need it ?
would love to see Arab countries going down.

[Chode]

The price per barrel of oil sold isn’t going to change, but the cost to produce that incremental oil through EOR is going to decrease.

and there it is...

[sefarkas]

The suspect sentence is this one: The price per barrel of oil sold isn’t going to change, but the cost to produce that incremental oil through EOR is going to decrease. Such a claim defies basic human nature and economics. Increased supply and constant demand must yield lower equilibrium price. Changing the cost of production per barrel via EOR shifts the supply curve right. In the end, a sudden step change decrease in the cost of production must lead to lower equilibrium prices. A lower equilibrium price will limit the application of EOR (extended oil recovery) because the economics of oil recovery are a strong function of the final price being paid for the oil and gas produced. On the other hand, the lower price will make some uses of fossil fuel economical that had not been economical (movement along the aggregate demand curve) affecting the economics of fossil fuel substitutes, e.g., nuclear, solar, wind.

[St_Thomas_Aquinas]

I have a degree in mechanical engineering, and horizontal drilling blows me away.

This is great news! Hopefully we can purge the government of liberals of both parties

[Beagle8U]

“The price per barrel of oil sold isn’t going to change, but the cost to produce that incremental oil through EOR is going to decrease.”

Cool! More oil for less cost and we pay the same price./sarc

[Rodamala]

LSFMT 1 year performance chart... the 5 looks rougher.

Perhaps it is turning around... perhaps the writer is pulling typical pump and dump? You decide...

[hellinahandcart]

mark

[Entropy Squared]

bttt

[Kenny Bunk]

Boom, Shboom.

Gasoline (and soon please God, Diesel) is the lifeblood of our country. At $3.50 per gallon, it is also killing us, business, and everything else in Obamaland.

How soon until we get back to reasonbly priced American-sourced fuel? Where are the new refineries? Until we get the green Left wing assklowns of the EPA and the Obamanauts off'n our arse and get back to normal activity, we are economically SOL. I know we'll never get back to "cheap" gas, but a fair supply and demand price strikes me as around $1.50. As far as supplying the CHICOM, screw'em. Let'em deal with OPEC on their own. They run it now ... so what's the difference.

We have Mexico on our team, Canada, Brazil, and when Fidel dies Cuba, plus our own immense domestyic resources. So, why this agopny at the pump.

On the price of gas alone The Mombasa MF should have been shut out of the WH. I do not understand 53% of those what are supposedly my countrymen.

[therightliveswithus]

Wow. Would be something

[Salvation]

Are refineries prepared for additional production?

[Domestic Church]

Makes sense to sell it and use before Toyota comes out with a new engine that doesn’t need it...in a decade or two.