Two interesting things to point out in the article
1.) Rising estimates on recoverable oil in the Permian.
“As that slide points out, Pioneer Natural Resources (NYSE: PXD ) now estimates the Spraberry/Wolfcamp shale formations in the Permian Basin contain 75 billion barrels of recoverable oil and gas. That number is actually a major upward revision from last year when Pioneer estimated the two formations held 50 billion barrels of recoverable oil and gas.”
2. Another mention of Tuscaloosa Marine shale in the Gulf Coast region as promising area along with a couple Rocky mountain plays.
“The two most promising appear to be the Tuscaloosa Marine shale in the Gulf Coast region and several shale plays in the Rockies. EOG Resources this year unveiled four new horizontal oil discoveries in the Rockies,”
In case you don't know, Fossil Fuel was a disinformation
campaign propagated
by the very same people against Coal whereas the oil was derived from
Dinosaurs and would run out. The exact opposite is true and oil does replenish itself.
How long earth pressures take to create said oil is not yet known
but it has been simulated and recreated.