We Could Unlock More Than 267 Billion Barrels of Oil in America

fool.com ^ | July 30, 2014 | Tyler Crowe

[HiTech RedNeck]

Loosen that tight oil

[ckilmer]

The genesis of this article is that in Core Labs earnings conference call they talked about new work in their labs that will result in recovery rates that are double or triple current rates.

Their work in the baaken and eagle ford has declined in the last couple quarters so in the very least it looks like they want more work there.

As well this may mean that they’ll enable companies in the Tuscaloosa marine shale — where they are currently getting more work — to get more oil. Same goes with the permian basin where they’re also getting more work.

May be that they learned something new recently by doing more stuff in these very different formations.

[Tennessee Nana]

Obama will build the pipeline if he has to to support his illegal aliens...

for the veterans...Butkis...

[353FMG]

Oh no, don’t!

That would annoy our muzzie “friends” in the ME.

[henkster]

Ten years ago I would have said that these figures are wildly inflated and nowhere near reality, and do not represent economically recoverable reserves.

I’m not saying that today.

[gov_bean_ counter]

Ping.

[piytar]

But but but Peak Oil and Global Warming and stuff!!! /libidiot

[SkyDancer]

Would have to clean house in DC first.

[hoagy62]

Nope...the enviro-weenies would NEVER agree to it.

Which is why they need to have a shoot-on-sight rule for protesters who show up to picket. We need a leader who will look out for the interests of the US FIRST and give these libtards the big middle finger.

Just my .02

[rockinqsranch]

Damnocrats will fight against any improvements in Oil recovery. We must make certain they get to minority status, and kept down.

[ckilmer]

Ten years ago I would have said that these figures are wildly inflated and nowhere near reality, and do not represent economically recoverable reserves.

I’m not saying that today.
...........
From looking at old production numbers going back decades and correlating them with other parts of the USA econonmic and political activity...I think that a lot of the vigor went out of the USA when oil production peaked in 1970. What most people don’t realize is that oil production had been going up almost steadily since before the turn of the century.

Anyhow that vigor is returning.

[spokeshave]

More foolish non sense from the fools...

The Green River Formation weighs in a 3 TRILLION Barrels of oil with 1 trillion recoverable with todays technology...

An American Oil Find That Holds More Than All of OPEC Nov. 13, 2012 By ALAN FARNHAM via World News

Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp OPEC.

A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be "equal to the entire world's proven oil reserves."

Both the GAO and private industry estimate the amount of oil recoverable to be 3 trillion barrels.

"In the past 100 years — in all of human history -- we have consumed 1 trillion barrels of oil. There are several times that much here," said Roger Day, vice president for operations for American Shale Oil (AMSO).

The Green River drilling is beginning as shale mining is booming in the U.S. and a report by the International Energy Agency predicts that the U.S. will become the world's largest oil producer by 2020. That flood of oil can have major implications for the U.S. economy as well as the country's foreign policy which has been based on a growing scarcity of oil

[ckilmer]

yeah, I love that story too. But its not going to happen anytime soon. There’s easier picking in shale oil—which is a very different animal from oil shale which is the hard rock of the green river basin. That oil shale has to be melted before its oil—which is a process that’s currently more expensive than expensive fracking techniques—and requires lots of electricity and water in places where there is little available—especially water.

[jyro]

Remember when Bush said “drill baby drill” and Obama said it would never work?

[crusty old prospector]

The TMS ain’t working. Too much clay and too little TOC.

[Mastador1]

Loosen that tight oil

there is something just a bit off in that

[piytar]

Yup. And drilling is the only thing keeping us of a deeper Great Depression.

So obastard of course hates it. Well, that, and a lot of the money is flowing to Texas.

[agincourt1415]

We need another Ronald Reagan to see the future is bright. Oil Shale recovery is the future.

The BLM controls most the Green River Lands. That is a major problem.

If we had a Congress and President with half a brain, we could be exporting oil in 5 years.

[American Constitutionalist]

I am not sure if this question has been explored here on FR but whats the fracking world concerning fracking for oil in the oceans ?
Is it more difficult in the oceans ?
Not counting the difficulty of drilling for conventional oil deep in the oceans is the geology more difficult or more easy for fracking in the oceans ?