Posted on 02/04/2013 8:21:48 PM PST by 2ndDivisionVet
While touting his ostensible “all of the above” energy plan and working the campaign trail not so very long ago, President Obama would justify his many expensive green-energy plans by repeatedly saying something along the lines of, “America consumes 20 percent of the world’s oil, but only has two percent of its reserves” — which is about as bogus a statistic as it gets. America only having two percent of the world’s oil relies on measures of its proven reserves, i.e., the amount of oil that has both been discovered and is technologically and economically feasible to extract, remaining static.
New technology means that oil deposits the world over are suddenly a lot more available for cost-effective human productivity, and while certain states have taken advantage of the effectively growing oil-and-gas abundance — North Dakota has been raking it in by tapping into the Bakken shale formation — California is sittin’ pretty atop a formation four times the size of that one. The NYT reports:
These wells are tapping crude directly from what is called the Monterey Shale, which could represent the future of California’s oil industry — and a potential arena for conflict between drillers and the state’s powerful environmental interests. …
Comprising two-thirds of the United States’s total estimated shale oil reserves and covering 1,750 square miles from Southern to Central California, the Monterey Shale could turn California into the nation’s top oil-producing state and yield the kind of riches that far smaller shale oil deposits have showered on North Dakota and Texas.
For decades, oilmen have been unable to extricate the Monterey Shale’s crude because of its complex geological formation, which makes extraction quite expensive. But as the oil industry’s technological advances succeed in unlocking oil from increasingly difficult locations...
(Excerpt) Read more at hotair.com ...
Amazing, you must be drunk, and a hostile drunk to have missed all the humor on this thread.
Wow, accusing me of actually reposting your words. Liberal Life must be hell.
What do you have to say about your statement......
Pull a liberal misdirect if you must.......
LOL
LOL, you really must be wasted, that was a funny remark that I made about Ghia, and it led to a number of humorous posts.
Drinking isn’t serving you well tonight.
You seem to hung-over on this drinking thing. Let me guess your a “Fancy 49rs” fan.
It is pretty clear that you are drunk, and angry, a bad drunk.
Look at your posts on this thread and this wild ranting and attacking.
Every empty gas station was filled with gasoline and at one time there were 19 tankers in L.A. harbor with no place to unload.
In 72 I had given up our allotment with Union Oil because they had gone to unleaded gas and it was seizing up the valves in our small Wisconsin engines but until the 74 crunch I was able to buy bulk delivery on the open market.
The only thing that saved my ass was we worked on almost every gas station and So. Calif Refinery in the 1st 2/3 of the last Century and a good friend who built and demoed gas stations was busy tearing down stations the were marginal and if the tanks had any gas in them he would call me and I would have a few hours to pump them out and haul the gas to our tanks before he turned the tanks over and dumped it.
In 74 the environmental wackos weren't in force and no one cared how much gas you dumped.
I finally hooked up with a distributor I knew in San Diego and he had a 500,000 gallon allotment for a school district that they didn't completely use and he would deliver me a truck and trailer of gas and diesel every month or 2 to L.A..
LOL, after 30,000 posts I think I’m OK. Check yours HR.
It’s called Up Yours in old school.
all the wells on Huntington Beach are gone but there is an oil platform off of Seal beach which taps a portion of that field.
That was an interesting post, it was interesting to hear the different theories and stories from behind the scenes, those Brown and Root guys weren’t buying the mainline story either.
I wonder if Al Gore owns the mineral rights under his palatial estate in California? He would be willing to develop the oil reserves there - for a price.
The US has more refining capacity than the fuel we use. We have not built a new refinery for 3 decades but we spent that time expanding and upgrading the ones we have. The US is now a net refined product exporter because we refine more than we use ourselves.
I remember .29 ethyl. And it was .27 on sale. I named my Oldsmobile “Ethyl” because she sure liked ethyl more than regular.
BA
Thanks!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.