Posted on 03/12/2017 8:32:52 AM PDT by rktman
Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades.
The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices.
The new discovery was made in just the past few days in Alaska’s North Slope, which was previously viewed as an aging oil basin.
Spanish oil giant Repsol and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day.
The oil resources lie in a well, called Horseshoe, that’s 75% owned by Denver-based Armstrong. Repsol owns the rest of this well.
(Excerpt) Read more at ktla.com ...
Peak oil.
We always have to listen to the oil experts and accept their analysis as gospel because they definitely know what they are talking about.
Same with the global warming experts
That's, like, ten years away. Stop drilling now! /s
Dammit. How are we ever going to realize Algore’s dream of becoming a nation of hunter gatherers depending on the sun and wind for all of our energy if people keep discovering more cheap oil?
Oil exploration teams are discovering major oil fields faster than President Obama can place areas off limits to exploration.
OBLIGATORY (Save for your liberal friends):
“Peak oil is now.” German Energy Watch Group –2008
“By 2012, surplus oil production capacity could entirely disappear..…” U.S. Department of Defense –2008 & 2010.
“A global peak is inevitable. The timing is uncertain, but the window is rapidly narrowing.” UK Energy Research Centre -2009
“The next five years will see us face … the oil crunch.” UK Industry Taskforce on Peak Oil and Energy Security –
You know, these people should be in charge of controlling the climate too!
LOL! Yeah, but the warmists keep insisting things are based on record keeping. The other billion years————meh!
Because you have higher taxes on gasoline?
When in the southeast I always buy gas in the states surrounding Florida because of the price.
For years it was why will Jeb not drill was another remark. Today it is taxes?
Doesn’t make sense.
Inventories are brimming...
BOOM! Or is that Varoooom!
M-ore
O-utstanding
P-ower
A-nd
R-aceability
Close to $3.00?
Here in the rural Rocky Mountains, usually more expensive than the nearby city, gas is about $2.20.
Proves again that Oil is a renewal resource.
$2.40 here in PA with a huge state tax. Heating oil is $1.99.
[455 hp and 455 ftlb. torque, and a motor that roars to life when the engine starts. 0-60mph in 4.2 sec.]
“Pistons the size of trashcans articulating up and down in a never-ending quest to build horsepower”
Too bad Obama isn’t around to prevent economic growth and to “protect” the environment :)
Gas is $2 here in south Texas.
“His estimate was that there was enough oil there to last hundreds of years.”
About 20 years ago I worked for a computer reseller...my largest account was ARCO-Alaska Division. The engineers with the company told me not to believe anything the politicians or the MSM tell us...there is enough oil in Alaska to supply the US for 100 years or more and NO it does not harm wildlife ONE bit.
They said all the arguments for not drilling in Alaska are the biggest con job on the American public in history.
If you remember,it was President Carter who warned us we would not have enough oil, then just before he left office, he turned the Northwest quarter of the state into a Federal Monument, taking all it’s oil off the table. The oil in this area of Alaska was originally set aside for national security. Carter ended up a traitor to his country...probably to help his Iranian Mullah buddies keep market share.
I paid $2.11 yesterday in Kansas, and I think $0.43 of that is tax. I think, relative to inflation, gas prices have not really gone up too much over the last 40 years...especially when the tax is taken out of the equation.
The Fry’s Supermarket half a block from here is charging $2.09 per gallon for regular.
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