Texas Shale Oil Could Add "Another Venezuela Or Kuwait" Worth Of Oil By 2020

Business Insider ^ | May 31, 2011 | Robert Johnson

[thackney]

Oil companies are moving quickly to tap shale oilfields in Texas that could increase domestic oil production by 25 percent over the next decade.

According to a report in the New York Times, more than a dozen companies will drill up to 3,000 wells in the next 12 months at Eagle Ford and other sites. Just five years ago the fields were thought to be worthless.

Despite concern about the environmental dangers of fracking, oil companies are betting the government won't stop such a big boost to reserves.

Texas shale is up to three times larger than Alaska's Prudhoe Bay, the last great onshore oil discovery in the U.S.

And it's coming online fast...

[null and void]

Oh, and stopping it after all the money has been spent on infrastructure and drilling? Icing on the cake!

[Maverick68]

b

[Buckeye McFrog]

The Democrats will find a way to stop it.

A buddy of mine works for a shale gas company that canceled their plans to open an office in upstate New York because NY totally caved to the Enviros and put it all off limits. New York is now suing to force the EPA to stop fracking in the Delaware Basin, which includes all of NJ and a good chunk of PA.

[MrEdd]

Actually this article is still trying to under report the amount of oil in shale and sands.

The over used iceberg metaphor applies.

There is and always was more oil that is hard to retrieve than oil that was simple to pump out of the ground.And this is not a new discovery.

My paternal grandfather was a petroleum engineer from the late 1920s through the early 1970s. My mother was middle management for Shell all my growing up years.
The oil business was a dinner topic at our house a lot of the time.

The ratio of free oil to more embedded oil has always been known - unless you grew up reading environmentalist revisionism.

If oil runs out, it wont be in my lifetime, my children's lifetime, or even my great grand children's lifetime.

You may indeed be able to fool all of the people some of the time - but not about every subject.

[Ancesthntr]

If Odumbo and the Demonrats manage to stop this drilling, then I will be on the phone literally every day to the Governor’s office, asking the simple question:

NOW can we secede?

[Vinnie]

The Democrats will find a way to stop it.

Hasn't the environmentalists found a lizard that they want to put on the 'endangered species' list?
It lurks on the shale territory and a ruling would effectively place the area off limits.

[thackney]

And this is not a new discovery.

I was under the impression the very first well into the Eagle Ford shale formation was in 2008. Do you have different information?

http://www.rrc.state.tx.us/eagleford/index.php

[MrEdd]

The break point was forecast to be about $35 a barrel back in the 1930s be commercially viable. New technical developments in the 90s lower the recovery cost, and the recent drilling has come about because the price oil finally rose to the point that profit exceeds the greater recovery cost for shale oil.

But again, it wasn't extracted before not because it wasn't possible, but because it wasn't profitable.

If a change of governments and regulations causes drilling conventional oil world wide you will see shale oil production back off as it will be unable to compete at the pump.

None the less, there is still more of it in existence than free oil.

[thackney]

I believe you are talking about retorting shale to release Kerogen to produce a syncrude.

This is not that process. This drilling to bands of crude oil. Steerable horizontal drilling combined with hydraulic fracturing has increase the amount of oil that can be produced.

[PATRIOT1876]

The clowns in the jester hats shaking hands with the “lack of joy” buzzers in the Climate Alarmist Cabal, the anti-fracking nonsense vomiters, the environazis and the dullards at the EPA want to put the kibosh on anything that is helpful concerning low cost energy in the USA.

Note to the drooling masses, if a FICTION film with an agenda tells you that fracking contaminates groundwater: DON’T YOU BE-LIEVE IT!

Also:
Don’t confuse Tina Fey with Sarah Palin.
Don’t listen to master scientist extraordinaire Al “I’m melting” Gore when he tells you it’s “millions of degrees” about a mile and a half down.
Don’t listen to ANYTHING Harry Reid, 0bama, Pelosi, or Bill Maher says!

[GSWarrior]

Progressives are not just against drilling for oil; they are against cheap, plentiful energy sources that involve corporations making a profit.

[PATRIOT1876]

*Progressives are not just against drilling for oil; they are against cheap, plentiful energy sources that involve corporations making a profit.*

Yep, the anti-human, envirokooks do NOT want us to have a lot of good cheap oil here at home:

“Giving society cheap, abundant energy . . . would be the equivalent of giving an idiot child a machine gun.” Paul Ehrlich