[Arthur75]

$this->bbcode_second_pass_quote('', '[')b]North America: The new energy kingdom
NEIL REYNOLDS
Includes correction


The American Petroleum Institute reports that the United States produced more crude oil in October than it has ever produced in a single month, “peak oil” or not.

This reversal of trend helps explain why U.S. domestic production for the year will be 140,000 barrels a day higher than last year (which was 410,000 barrels a day higher than 2008). Although the U.S. Energy Information Administration (EIA) says U.S. production will decline next year, who knows?
....

[GHung]

http://money.cnn.com/2016/07/05/investi ... oplead-dom

$this->bbcode_second_pass_quote('', '[')b]U.S. has more untapped oil than Saudi Arabia or Russia

Move over, Saudi Arabia and Russia. America now has more untapped oil than any other country on the planet.

That's according to a new report from Rystad Energy that estimates the U.S. is sitting on an incredible 264 billion barrels of oil reserves. It includes oil in existing fields, new projects, recent discoveries as well as projections in undiscovered fields.

More than half of America's untapped oil is unconventional shale oil, according to Rystad. Shale oil is the previously-unreachable crude that, thanks to fracking and new technology, has reshaped the global energy landscape and vaulted the U.S. into the upper echelon of global oil producers. ....

....But there are seas of oil just waiting to get tapped once oil prices rebound. Texas, home to the Eagle Ford, Permian and Barnett shale oil plays, holds more than 60 billion barrels of shale oil alone, Rystad estimates. That's more than the untapped oil in all of China. There are also vast sums of oil beneath the ground in North Dakota, where the Bakken shale oil play sits.

[eugene]

And more untapped bullshit.

[Plantagenet]

$this->bbcode_second_pass_quote('GHung', '
')
More than half of America's untapped oil is unconventional shale oil, according to Rystad. Shale oil is the previously-unreachable crude that, thanks to fracking and new technology, has reshaped the global energy landscape and vaulted the U.S. into the upper echelon of global oil producers. ....

[ennui2]

Hey PStarr and Whatever...



...it's still a glut.

[copious.abundance]

Abundance aplenty.

[ennui2]

$this->bbcode_second_pass_quote('pstarr', '
')Yes indeed! Saudi America will rise from its own peakoil ennui (that's a fancy word for being sad (: ) and rise up to a new day of Energy Independence! Whoopeee!

[vtsnowedin]

Now wait a minute! There isn't any more oil in the ground in the USA today then there was yesterday. Some bureaucratic weenie coming up with a new number doesn't make it so. A sixty billion barrel reserve would only last eight years if imports and old fields dried up. And could we extract that 60 billion barrels in those eight years?
It is nice that we have what we have but don't for a moment think that it is large enough to support "Business As Usual" once the countries that export oil to us today find they need to shut us off.

[sidzepp]

I was beginning to worry that the warming climate would be intolerable, but can rest comfortably knowing that there will be enough oil to fuel the power plants that produce the electricity to run my air-conditioning.

[AdamB]

$this->bbcode_second_pass_quote('eugene', 'A')nd more untapped bullshit.

[AdamB]

$this->bbcode_second_pass_quote('copious.abundance', 'A')bundance aplenty.

[AdamB]

$this->bbcode_second_pass_quote('pstarr', 'L')ooks who is back! Whoopee! Howdy Oilfinder, you old cornie you.

[tita]

$this->bbcode_second_pass_quote('Plantagenet', '
')US oil production is inching back up, especially from shale oil producers, and global oil demand continues to slow
Cheers!

[ROCKMAN]

tita - "What exactly do these 264 billions means?" Easy answer: if you drill down thru THE ACTUAL DATA THEY PRESENT, that number includes all probability sets of reserves (such as the lowest probability) AND undiscovered reserves which actually don't even reach the value of RESOURCES. They clearly post their highest probability reserve number at less then 30 billion bbls. Which itself doesn't actually mean a 100%' probability of being correct.

And why post so many different probability sets of "reserves"? Because actually mapping in detail is beyond their capabilities. Hell, it's beyond XOM's capability. LOL.

[radon1]

$this->bbcode_second_pass_quote('ROCKMAN', 't')ita - "What exactly do these 264 billions means?" Easy answer: if you drill down thru THE ACTUAL DATA THEY PRESENT, that number includes all probability sets of reserves (such as the lowest probability) AND undiscovered reserves which actually don't even reach the value of RESOURCES. LOL.

[ennui2]

You never know what's recoverable until you try to recover it. Until then, this stuff is just an inkblot test. Doomers discount these resources completely. Cornies overstate them. But the reality is somewhere inbetween, that some of it WILL be recoverable.

[efarmer]

Cowboys sat around fires and threw in oil shale rocks as a conversation starter.
"Hey Clem, did you ever see a rock that burns?" The buffalo chip fire was the
preferred fuel for cowboy cuisine though, those burning rocks made everything
taste like crap. Sweet light crude is the stuff that made this big burn we are
riding on get going good, sour crude came in when sweet light got expensive,
and now the idiots are acting like oil shale is the next wave instead of the last
crap to thrown into the big burn to keep it running. I suppose this is like the cowboys
deciding to have a wing ding and roast their horses on them burning oil shale rocks.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'S')weet light crude is the stuff that made this big burn we are
riding on get going good, sour crude came in when sweet light got expensive,
and now the idiots are acting like oil shale is the next wave instead of the last
crap to thrown into the big burn to keep it running.