Posted on 01/11/2012 10:05:38 AM PST by bayouranger
Measured in Dollars, we are already past that point.
Measured in Barrels, who knows, maybe, maybe not.
Measured in unemployed following the boom, I sure hope not.
Est.’s on the Green River are off the charts, but geographiclly it sits in Co, Wy, Ut. on the western side of the Rockies.
They know that when they cannot sell their oil anymore, they will have to go back to living off camel dung.
I had a conversation a couple of months ago with the principal of an engineering firm that does lots of work in the Haynesville Shale in NW Louisiana. His crew also doing some work in Pennsylvania in the Marcellus Shale. I asked him about the tree huggers, etc. and how much of a problem they really were.
His comment was that once the royalty checks began to flow to landowners and local governments, that the racket from the enviros tended to abate.
Yep! Thanks for correction.
Yep! Thanks for correction.
Thanks. What’s holding back barrel production in TX?
Capitalism is the only thing to silence the muggers.
I don’t think anything is really holding back production in Texas. But you are talking about a rather big hill to climb compared to where we were in the 1980’s.
Remember the shale production in the Bakken has several years head start on the shale in Texas’ Eagle Ford and Permian Basin.
But it is not for lack of drilling. Lots of rigs working here now.
Nearly half of all drilling rigs operating in the United States are drilling in Texas 927 out of 2,007 at last count.
“...georgraphically it sits in Co, Wy, Ut. on the side of the Rockies.”
Hmmm, guess my memory is fading. Then again, it was a research paper I wrote in college back in 1985. Last time I looked at it was 20 years ago. Guess I need to read it again before I quote it next time.
Thanks.
Mainly from us, the taxpayers. They have a real scam going. The EPA gives them grants, they sue the gov’t for some bogus reason, and the EPA gives them even more $. It’s money laundering, pure and simple.
http://ostseis.anl.gov/guide/oilshale/
More than 70% of the total oil shale acreage in the Green River Formation, including the richest and thickest oil shale deposits, is under federally owned and managed lands. Thus, the federal government directly controls access to the most commercially attractive portions of the oil shale resource base.
I would argue that it might not be the problem it is thought to be.
As early as say 1985 the practice of Saudization began in earnest. That is foreign employees were eased out and replaced by Saudis. It was and is not now an easy process because there is not the backstop of experience to rely on. They now have 25 years more experience in the various non oil production businesses and manufacturing concerns than back then.
However, many ambitious young Saudis came to America and received first rate educations in a variety of fields. They are now in a generational position to take over from their fathers and uncles.
Years ago there was argument and disagreement in Saudi Arabia about conservation of resources, especially oil resources. While the change will produce a disruption of sales, it is not a shock, in fact there are likely plans in place to mitigate the change.
The loss of oil revenue will be the incentive for continuing growth and increased capacity of other industry. The current decrease will prolong the stream from known capacity
You were on the money on estimates 1.3 to 2.0 Trillion BOE. Recoverable is estimated at 750 billion BOE. Big numbers!
Northeast of this is the Niobrara.
Those koranimals tried to destroy America. (Spit)
Yeah, I know. FYI...my memory is fading.
I was quoting from memory based on a research paper I wrote in college (1985). Last time I looked at it was 20 years ago. I’ll be sure to read it and get my facts straight before quote it again.
Thanks.
There is oil shale over at the Appalachian mountains. It just isn’t continuous with the Green River.
I didn’t mean to pile on after others pointed it out. I just wanted to give a link for more information.
As long as Obama Democrats and RINOs are in office they have nothing to worry about.
The world’s cheapest oil to extract comes from Saudi Arabia and costs $2 a barrel, not the 30-60 bucks that they say it cost. they have been bleeding the world dry for 80 years it is now time to get off the Saudi teat.
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