USA oil reserves
#7530526
03/17/22 08:18 AM
03/17/22 08:18 AM
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Joined: Dec 2006
Posts: 6,206 Williamsport, Pa.
jk
OP
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OP
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Joined: Dec 2006
Posts: 6,206
Williamsport, Pa.
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I was aware of the reserves, but not the magnitude reported here. If the "New Green Deal" folks thought they could profit from this, they'd jettison their BS and jump in.
Here's an astonishing read. Important and verifiable information:
About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest. The host said to Forbes, "I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more than all the Middle East put together." Please read below. The U. S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana ..... check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5...3 trillion.
"When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.." says Terry Johnson, the Montana Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reportsThe Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' It stretches from Northern Montana , through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves..... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL! That's enough crude to fully fuel the American economy for 2041 years straight. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006! U.S. Oil Discovery- Largest Reserve in the World Stansberry Report Online - 4/20/2006 Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling? They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth.. Here are the official estimates:- 8-times as much oil as Saudi Arabia - 18-times as much oil as Iraq - 21-times as much oil as Kuwait - 22-times as much oil as Iran - 500-times as much oil as Yemen
!!! AND IT'S ALL RIGHT HERE IN THE WESTERN U.S. !!! HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy.....WHY? James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post. Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC just might be funding the environmentalists?
Free people are not equal. Equal people are not free. What's supposed to be ain't always is. Hopper Hunter
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Re: USA oil reserves
[Re: jk]
#7530566
03/17/22 09:08 AM
03/17/22 09:08 AM
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Joined: Dec 2006
Posts: 31,039 williamsburg ks
danny clifton
"Grumpy Old Man"
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"Grumpy Old Man"
Joined: Dec 2006
Posts: 31,039
williamsburg ks
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I think the earth is still making oil. Not as fast as we are burning it maybe but for the life of me I can't see why organic material would stop becoming oil.
All the great scientists and thinkers of 50 years ago said we were headed to another ice age. That oil was about to run out. Now we have more available than we did then?
Oh yeah eggs are bad for you, meat and salt is good
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: USA oil reserves
[Re: jk]
#7530611
03/17/22 09:45 AM
03/17/22 09:45 AM
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Joined: Jul 2017
Posts: 2,695 Ohio
Willy Firewood
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Posts: 2,695
Ohio
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And remember that here in this country, oil is produced in cleaner ways than any other countries.
Now look at the economics. If we import 500,000 barrels of oil at $50 per barrel, we pay out to that country $25 million per day to use against us. It would be wiser to pay domestic companies that money to provide jobs and support our economy.
$25 million per day for one year is $9.125 billion. Wouldn’t that be nice to keep in our economy instead of throwing to the wolves who openly hate us? Russia, Venezuela, or Iran. America first.
FRAC LIVES MATTER
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Re: USA oil reserves
[Re: jk]
#7530644
03/17/22 10:08 AM
03/17/22 10:08 AM
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Joined: Dec 2006
Posts: 16,616 MN, Land of 10,000 Lakes
Trapper7
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trapper
Joined: Dec 2006
Posts: 16,616
MN, Land of 10,000 Lakes
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I was aware of the reserves, but not the magnitude reported here. If the "New Green Deal" folks thought they could profit from this, they'd jettison their BS and jump in.
Here's an astonishing read. Important and verifiable information:
About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest. The host said to Forbes, "I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more than all the Middle East put together." Please read below. The U. S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana ..... check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5...3 trillion.
"When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.." says Terry Johnson, the Montana Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reportsThe Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' It stretches from Northern Montana , through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves..... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL! That's enough crude to fully fuel the American economy for 2041 years straight. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006! U.S. Oil Discovery- Largest Reserve in the World Stansberry Report Online - 4/20/2006 Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling? They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth.. Here are the official estimates:- 8-times as much oil as Saudi Arabia - 18-times as much oil as Iraq - 21-times as much oil as Kuwait - 22-times as much oil as Iran - 500-times as much oil as Yemen
!!! AND IT'S ALL RIGHT HERE IN THE WESTERN U.S. !!! HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy.....WHY? James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post. Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC just might be funding the environmentalists? Trump opened up many of these places. That increased the world's oil production causing the price for a barrel of oil to drop and gas at the pump to drop. Same as the fur market. If there was an abundance of a certain fur, the price would drop. When there was a shortage of a certain article, the price went up. Biden has stopped most everything Trump put in place regarding oil drilling causing the cost for a barrel of oil to rise due to a shortage in the market. His solution: Everybody needs to buy an electric car or take the bus.
Sign in a restaurant: Warning! Children left unattended will be sold to the circus.
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Re: USA oil reserves
[Re: danny clifton]
#7530650
03/17/22 10:11 AM
03/17/22 10:11 AM
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Joined: Dec 2008
Posts: 4,421 Yukon
yukon254
trapper
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trapper
Joined: Dec 2008
Posts: 4,421
Yukon
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I think the earth is still making oil. Not as fast as we are burning it maybe but for the life of me I can't see why organic material would stop becoming oil.
All the great scientists and thinkers of 50 years ago said we were headed to another ice age. That oil was about to run out. Now we have more available than we did then?
Oh yeah eggs are bad for you, meat and salt is good Bingo. I said the exact same thing on here many years ago and people said I was a nut so be careful!
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Re: USA oil reserves
[Re: jk]
#7530695
03/17/22 10:42 AM
03/17/22 10:42 AM
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Joined: Jul 2017
Posts: 2,695 Ohio
Willy Firewood
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Ohio
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White - There is an abundance of false information about the petroleum business. That is why I post info here that I know to be true.
FRAC LIVES MATTER
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Re: USA oil reserves
[Re: danny clifton]
#7530699
03/17/22 10:45 AM
03/17/22 10:45 AM
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Joined: Jan 2007
Posts: 5,427 Northern Minnesota
BernieB.
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Joined: Jan 2007
Posts: 5,427
Northern Minnesota
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I think the earth is still making oil. Not as fast as we are burning it maybe but for the life of me I can't see why organic material would stop becoming oil.
All the great scientists and thinkers of 50 years ago said we were headed to another ice age. That oil was about to run out. Now we have more available than we did then?
Oh yeah eggs are bad for you, meat and salt is good Exactly!
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Re: USA oil reserves
[Re: jk]
#7530709
03/17/22 10:54 AM
03/17/22 10:54 AM
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Joined: Dec 2010
Posts: 11,686 Armpit, ak
Dirt
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Posts: 11,686
Armpit, ak
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I was out hunting moose a couple of weeks ago and shot and missed and up through the ground came a bubbling crude.
Who is John Galt?
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Re: USA oil reserves
[Re: Dirt]
#7530712
03/17/22 10:57 AM
03/17/22 10:57 AM
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Joined: Dec 2008
Posts: 4,421 Yukon
yukon254
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Posts: 4,421
Yukon
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I was out hunting moose a couple of weeks ago and shot and missed and up through the ground came a bubbling crude. So yer the fella their looking for thats been shooting up the pipeline!
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Re: USA oil reserves
[Re: danny clifton]
#7530722
03/17/22 11:09 AM
03/17/22 11:09 AM
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Joined: Sep 2013
Posts: 10,408 Northeast Oklahoma
Mike in A-town
trapper
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Northeast Oklahoma
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I think the earth is still making oil. Not as fast as we are burning it maybe but for the life of me I can't see why organic material would stop becoming oil.
All the great scientists and thinkers of 50 years ago said we were headed to another ice age. That oil was about to run out. Now we have more available than we did then?
Oh yeah eggs are bad for you, meat and salt is good I don't think it takes as long to convert into oil as conventional science claims... Put anything with some carbon content in an anaerobic pressure cooker and you can get a usable oil. I read somewhere that this process produced enough oil to power the thermal portion of the process with enough left over to sell. This is from 2006... https://www.discovermagazine.com/technology/anything-into-oil-03Mike
One man with a gun may control 100 others who have none.
Vladimir Lenin
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Re: USA oil reserves
[Re: white17]
#7530725
03/17/22 11:12 AM
03/17/22 11:12 AM
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Joined: Dec 2008
Posts: 4,421 Yukon
yukon254
trapper
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Posts: 4,421
Yukon
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jk: Just an FYI:
What you have posted is an old chain email from about 10-12 years ago. It is a mixture on half truth and outright false hood. It is a compilation of statements and estimates from multiple articles over several years, in an attempt to make you think it is all in context. It isn't.
Anytime you see anything from Stansberry Reports or Stansberry Research..............it is an attempt to sell you a subscription to what they euphemistically call an investment newsletter. It is nothing more than a pump & dump operation who's main goal is to sell subscriptions. USUALLY their headlines are preceded by the words AD or SPONSORED ...........always in faded text so you might not notice it.
Most of their publications are not credible. Thats the problem isnt it ? Who to believe. Its become a favorite tactic to claim every source is false unless its one we happen to agree with. The real truth no doubt is somewhere in the middle. https://oilprice.com/Energy/Energy-General/US-Has-Worlds-Largest-Oil-Reserves.html
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Re: USA oil reserves
[Re: Dirt]
#7530888
03/17/22 02:43 PM
03/17/22 02:43 PM
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Joined: Nov 2017
Posts: 11,539 Maine, Aroostook
Posco
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Maine, Aroostook
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I was out hunting moose a couple of weeks ago and shot and missed and up through the ground came a bubbling crude. State or feds have the mineral rights?
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Re: USA oil reserves
[Re: Posco]
#7530893
03/17/22 02:56 PM
03/17/22 02:56 PM
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Joined: Dec 2006
Posts: 22,981 Very SE Nebraska
Gary Benson
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Very SE Nebraska
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I was out hunting moose a couple of weeks ago and shot and missed and up through the ground came a bubbling crude. State or feds have the mineral rights? Hollywood.......
Life ain't supposed to be easy.
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Re: USA oil reserves
[Re: yukon254]
#7530902
03/17/22 03:20 PM
03/17/22 03:20 PM
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Joined: May 2008
Posts: 3,990 Mn
nightlife
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Mn
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A few years back we had some consultants from the Alberta oil patch come fishing with us on a regular basis. One summer I asked them how much oil was in the tar sands. They told me that in the areas that are currently under production, there was enough oil to supply the world at current rates for the next 500 years. The tar sands extend all the way into southeast Yukon so there is a lot of oil that isnt even tapped into yet. We should have access to cheap energy. The current fuel prices are criminal, but elections have consequences, and i hope every single communist who supports the lefts policies go broke. A lot of the so called green groups and lobbyists have been funded by Russia who has also supported them with strategic and lobbying support and institution in effective messaging, all of which has been an open secret largely ignored by those in government as well as the media
�Everything in excess! To enjoy the flavor of life, take big bites. Moderation is for monks.� ― Robert A. Heinlein
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Re: USA oil reserves
[Re: jk]
#7531294
03/18/22 02:05 AM
03/18/22 02:05 AM
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Joined: Jul 2017
Posts: 2,695 Ohio
Willy Firewood
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White - same back to you for being a straight shooter and sharing your expertise and experience. In fact thanks everyone who shares accurate info. Well guys, another well going in. I took this photo today. This is the second well going in close to the last one. These wells are on the phase two section of the well pad. The first phase is full. After this well is finished, the drilling rig will travel approximately 4 miles to a waiting well pad where they will spud in 5-7 wells. Here in Ohio we are working hard to produce crude oil, natural gas, propane, butane, and other petroleum constituents. As I recently read - “We produce the energy to make the horsepower to run this Superpower”. The body of knowledge about fossil fuels and the petroleum industry is extremely diverse, immense, and probably is not available to everyone who studies or works in the field. Please understand that I do not mean that info is kept secret. What I mean is that there is so much knowledge that cannot practically be known by everyone. For example a geologist, petrochemical engineer, seismologist, helicopter pilot, hydro engineer, roughneck, trucker, security, refining, and more are all involved and have special knowledge and skills. Hopefully this info will help others understand this business.
FRAC LIVES MATTER
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Re: USA oil reserves
[Re: KOSOI]
#7531309
03/18/22 04:21 AM
03/18/22 04:21 AM
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Joined: Jul 2012
Posts: 3,818 N. Carolina
Scout1
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N. Carolina
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Where is the logic? If you have so much oil, why don't you produce it and sell it to other countries? Great question! Maybe uncle Joe will chime in shortly?
------------------------------------- DJT in 2024!
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Re: USA oil reserves
[Re: KOSOI]
#7531406
03/18/22 07:28 AM
03/18/22 07:28 AM
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Joined: Jan 2007
Posts: 5,427 Northern Minnesota
BernieB.
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Northern Minnesota
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Where is the logic? If you have so much oil, why don't you produce it and sell it to other countries? LOL there is no logic.
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Re: USA oil reserves
[Re: KOSOI]
#7531482
03/18/22 08:37 AM
03/18/22 08:37 AM
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Joined: Dec 2010
Posts: 11,686 Armpit, ak
Dirt
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Armpit, ak
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Where is the logic? If you have so much oil, why don't you produce it and sell it to other countries? Since we keep devaluing the Ruble it makes Russian oil cheap. So we buy yours.
Who is John Galt?
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Re: USA oil reserves
[Re: jk]
#7531540
03/18/22 09:18 AM
03/18/22 09:18 AM
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Joined: Mar 2021
Posts: 621 Sergievsk, Russia
KOSOI
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Sergievsk, Russia
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Where is the logic? If you have so much oil, why don't you produce it and sell it to other countries? Since we keep devaluing the Ruble it makes Russian oil cheap. So we buy yours. I have a feeling you won't be able to buy it anytime soon.
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Re: USA oil reserves
[Re: jk]
#7531597
03/18/22 10:31 AM
03/18/22 10:31 AM
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Joined: Jul 2017
Posts: 2,695 Ohio
Willy Firewood
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Ohio
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This oil field is under parts of Ohio, West Virginia, and Pennsylvania. The wells produce enormous quantities of oil and natural gas. The federal government will not approve a new interstate pipeline to send the oil or gas to a big market. Oil and gas must be moved by truck which is not very cost effective and adds significantly to the selling price.
These well produce wet gas - meaning high pressure gas that pushes some oil out of the ground with the gas. That passes through tanks so the oil can settle out of the gas. Note that this does not require any energy or a pump to get the oil out of the ground.
The amount of natural gas is immense. Of course the natural gas is used regionally. About 10 years ago a company built a state of the art electricity generating plant that runs on the local natural gas for which there is a short pipeline. It sends electricity into the grid.
KOSOI - personally I have no interest selling oil to foreigners until this country is again energy independent. At this point, I am concerned about energy supplies to meet needs that are local, then state, then regional, then national. When those needs are met and the strategic oil reserves are refilled, we could consider selling to friendly / allied countries.
Bigfoot - in this area I am not aware of any companies that did what you outline. There are small companies operating Clinton formation level wells. They have been around for a long time. Small companies do not have the capital to get into leasing, drilling wells and producing. There were a few companies leasing and got into production Rex Energy, Chesapeake, and Enervest. Enervest was a subsidiary of Chesapeake. Both Rex and Chesapeake went bankrupt and their assets were purchased and new companies started. Production from the wells can be controlled so they adjust production based upon price.
FRAC LIVES MATTER
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Re: USA oil reserves
[Re: jk]
#7531632
03/18/22 11:20 AM
03/18/22 11:20 AM
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Joined: Dec 2010
Posts: 11,686 Armpit, ak
Dirt
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Joined: Dec 2010
Posts: 11,686
Armpit, ak
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"In 2021, we oscillated between net imports and net exports on a month-to-month basis. In certain months, we were net importers (and hence, lost our “energy independence” per that definition). In other months, we were a significant net exporter.
What wasn’t clear was whether the U.S. would be a net exporter for the entire year of 2021. But the Energy Information Administration (EIA) recently posted the numbers for December, and we now have an answer. Net exports grew each month from September through December to push the final average for the year to a net export number of 162,000 BPD. That is significantly down from 2020, but it is still energy independent according to the net export definition.
We had lost our energy independence several times on a monthly basis since May 2020. But, the full calendar years of 2020 and 2021 both turned out to be net export years. (I should note that sometimes the EIA revises these numbers, but it would take some pretty big revisions to change the energy independence status of 2021)."
I'm sure the U.S. will be exporting more LNG to Europe in 2022.
FYI: WV, OH, PA combined produce about 1 to 2% of U.S. crude oil.
Last edited by Dirt; 03/18/22 12:11 PM.
Who is John Galt?
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