Outer Continental Shelf Oil and Gas Assessment 2006 (66.6 to 115.3 billion barrels of oil in U.S.)

MMS ^ | 2006

[Conservative Coulter Fan]

The MMS has completed an assessment of the undiscovered technically recoverable resources (UTRR) underlying offshore waters on the Outer Continental Shelf (OCS).  This assessment was based on information available as of January 1, 2003, including information obtained from new exploration activities in the Gulf of Mexico and in the Scotian Basin offshore Canada. 

The MMS estimates that the quantity of undiscovered technically recoverable resources ranges from 66.6 to 115.3 billion barrels of oil and 326.4 to 565.9 trillion cubic feet of natural gas.  The mean or average estimate is 85.9 billion barrels of oil and 419.9 trillion cubic feet of natural gas.  These volumes of UTRR for the OCS represent about 60 percent of the total oil and 40 percent of the total natural gas estimated to be contained in undiscovered fields in the United States.  The mean estimates for both oil and gas increased about 15 percent compared to the 2001 assessment.  For the oil resources, the vast majority of this increase occurred in the deepwater areas of the Gulf of Mexico, while for gas resources the majority of the increase was in deep gas plays located beneath the shallow water shelf of the Gulf of Mexico.

These estimates represent the potential quantities of undiscovered hydrocarbons that can be conventionally produced using existing or reasonably foreseeable technology, without any consideration of economic feasibility.  Current technology includes drilling in water in excess of 3000 meters (10,000 feet) deep and to subsea depths in excess of 9600 meters (31,700 feet).

MMS periodically conducts comprehensive assessments of the undiscovered oil and gas resources on the OCS.  The last comprehensive inventory was completed in 2001, with an interim update in 2003 to reflect significant changes in natural gas potential in the Gulf of Mexico.  The resource assessments also include production and reserve estimates for the OCS as well as estimates of undiscovered economically recoverable resources.  Undiscovered economically recoverable resources (UERR), presented in the form of price-supply curves, represent the portion of the undiscovered technically recoverable hydrocarbons that can be explored, developed and commercially produced at given costs and price considerations.

The results of this assessment, published as a brochure entitled Assessment of Undiscovered Technically Recoverable Oil and Gas Resources of the Nation’s Outer Continental Shelf, 2006  is available in electronic form below or in printed form free of charge, as long as supplies last, from the MMS Resource Evaluation Division, 381 Elden Street, Mail Stop 4070, Herndon, VA 20170.

[kenth]

Great news for China!

[nopardons]

Thanks for the ping.

[nopardons]

bttt

[RedBloodedAmerican]

Great post except I am failry sure the slam on Jeb is wrong. It was debunked on here months ago.

[RedBloodedAmerican]

failry = fairly

sorry

[nopardons]

bttt

[jec41]

At the moment these remain undiscovered technically recoverable resources and not proved. I have drilled such sights and found nary a drop. Howerver there may be some oil there but at those depths its going to take a lot of investors and if one bad hole most will be gone.

[Sprite518]

Another reason why I have had it with the Republicans. They have no back bone to do what is right. NONE!

[BigSkyFreeper]

It's one of the reasons why I believe Jeb would never be president.

[TheLion]

Would be nice if we could tap it!

[Diana in Wisconsin]

a. You Rock!

b. When are we going to stop f-ing around with this? Grrrr! :(

[hedgetrimmer]

I heard Castro is going to allow the Chinese to drill right off the US coast

The Chinese are exploring/drilling just off Japan's maritime area of control. There has been a huge brouhaha over it for the last couple of years. It appears the chinese are just using their asymmetric warfare techniques on the first world economies again.

[hedgetrimmer]

China-Cuba-Venezuela-Iran-Russia and the quest for energy dominance. The quest for using oil and gas as a tool of foreign policy.

China is LOCKING UP OIL SUPPLIES, getting them under contract while we will be depending on the free market for our oil supplies. CHINA is also signing oil development deals with impoverished 3rd world nations that cannot afford to explore and don't have the know how.

3 posted on 04/26/2006 2:57:18 PM PDT by dennisw (http://www.immigrationshumancost.org/)

See article

[Diana in Wisconsin]

"The minute the capital markets are convinced that petroleum supplies are going to run out, the free market will start working on a replacement. That day hasn't come yet."

You are absolutely, positively, 100% correct my FRiend. :)

[hedgetrimmer]

PING

[Rte66]

Ehh, why rush into anything? It's not 2045 yet. When we have a year's worth left, "somebody (else)" will get to work and do it.

[windchime]

"Great post except I am failry sure the slam on Jeb is wrong. It was debunked on here months ago."

 

I thought so too, RBA.  The following article indicates Florida offshore drilling was scuttled by others, not Jeb Bush.

Florida offshore drilling proposal scuttled 

The drilling proposal had the active support of Gov. Jeb Bush, who portrayed it as a compromise that would loosen the ban on drilling in the Gulf but keep a 125-mile buffer zone to protect Florida's coasts. The plan would have allowed drilling closer than 125 miles only if a state's legislature and governor approved it.

Because of the current ban, drilling is now more than 200 miles from Tampa.

 

[taxed2death]

"Awesome threads. You are kicking ass today man. I'm going to have much fun throwing all of this information at the foolish idiots who insist that price gouging or oil companies are to blame for the problem."

I could be wrong....but isn't the real bottle neck on the refining end of things?

[dennisw]

Thanks for the ping. Yup. China is very busy getting oil supplies under contact and signing exploration deals. While arrogant Americans who worship "free markets" prefer to buy their oil on the open markets. Who is smarter here? A real capitalist always wants a monopoly. A sure thing. The inside track on a great deal. That's what the Chinese are doing.

China has a 100 million dollar exploration deal with Iran.

[RedBloodedAmerican]

Well i think we are dealing with a problem here.

Check out this thread and this post of mine

http://www.freerepublic.com/focus/f-news/1622068/posts?page=49#49

Anyone can go to http://www.ed.gov/nclb/overview/importance/nclbworking.html or http://www.ed.gov/news/opeds/factsheets/index.html?src=gu and look under "Achievement".

Or read here

http://www.whitehouse.gov/infocus/education/

and you'll come across this

"States Have Adopted Accountability Plans. Under NCLB, states are required to design accountability plans and test students every year, from third to eighth grade. All 50 states, the District of Columbia, and Puerto Rico have designed and adopted accountability plans to test students and measure progress.

Standards And Accountability Are Working. According to the National Assessment of Educational Progress (NAEP), also known as the Nation's Report Card, the achievement of young students has risen since 2002. In 2005, America's fourth graders posted the best reading and math scores in the test's history. For fourth graders in reading, there has been more progress in the last five years than in the previous 28 combined. Eighth graders earned the highest math scores ever recorded for that grade by the NAEP.

The Achievement Gap Is Closing. Minority students are also making progress at a faster rate, narrowing the achievement gap. According to the NAEP, African-American and Hispanic fourth graders set records in both reading and math scores. Eighth-grade Hispanic and African-American students achieved their highest math scores ever."

Yes spending is up. But only after the money was misused for 8 years previous.

Some people are still sore Gore lost and then Kerry lost.

Oh and the comment about Southern Baptists taking children out of public education is hogwash. That was written up by some pharisees and never made the sbc floor in 2004