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USA oil reserves #7530526
03/17/22 09:18 AM
03/17/22 09:18 AM
Joined: Dec 2006
Posts: 5,759
Williamsport, Pa.
J
jk Offline OP
trapper
jk  Offline OP
trapper
J

Joined: Dec 2006
Posts: 5,759
Williamsport, Pa.
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
Re: USA oil reserves [Re: jk] #7530554
03/17/22 09:59 AM
03/17/22 09:59 AM
Joined: Nov 2017
Posts: 11,356
Maine, Aroostook
Posco Offline
trapper
Posco  Offline
trapper

Joined: Nov 2017
Posts: 11,356
Maine, Aroostook
I remember twenty years ago when "peak oil" was just around the corner. What happened?

Re: USA oil reserves [Re: jk] #7530566
03/17/22 10:08 AM
03/17/22 10:08 AM
Joined: Dec 2006
Posts: 29,972
williamsburg ks
D
danny clifton Offline
"Grumpy Old Man"
danny clifton  Offline
"Grumpy Old Man"
D

Joined: Dec 2006
Posts: 29,972
williamsburg ks
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)
Re: USA oil reserves [Re: jk] #7530611
03/17/22 10:45 AM
03/17/22 10:45 AM
Joined: Jul 2017
Posts: 2,672
Ohio
W
Willy Firewood Offline
trapper
Willy Firewood  Offline
trapper
W

Joined: Jul 2017
Posts: 2,672
Ohio
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
Re: USA oil reserves [Re: jk] #7530644
03/17/22 11:08 AM
03/17/22 11:08 AM
Joined: Dec 2006
Posts: 15,822
MN, Land of 10,000 Lakes
T
Trapper7 Offline
trapper
Trapper7  Offline
trapper
T

Joined: Dec 2006
Posts: 15,822
MN, Land of 10,000 Lakes
Originally Posted by jk
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.


Most in this country have things people in other countries only dream about. Yet, they want America to be more like those other countries.
Re: USA oil reserves [Re: danny clifton] #7530650
03/17/22 11:11 AM
03/17/22 11:11 AM
Joined: Dec 2008
Posts: 4,421
Yukon
Y
yukon254 Offline
trapper
yukon254  Offline
trapper
Y

Joined: Dec 2008
Posts: 4,421
Yukon
Originally Posted by danny clifton
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!


do unto others as you would have them do unto you

www.grizzlycreeklodge.com
Re: USA oil reserves [Re: jk] #7530657
03/17/22 11:19 AM
03/17/22 11:19 AM
Joined: Dec 2008
Posts: 4,421
Yukon
Y
yukon254 Offline
trapper
yukon254  Offline
trapper
Y

Joined: Dec 2008
Posts: 4,421
Yukon
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.


do unto others as you would have them do unto you

www.grizzlycreeklodge.com
Re: USA oil reserves [Re: jk] #7530672
03/17/22 11:29 AM
03/17/22 11:29 AM
Joined: Mar 2007
Posts: 35,211
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,211
McGrath, AK
jk: Just an FYI:

What you have posted is an old chain email from about 10-12 years ago. It is a mixture of 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.


Mean As Nails
Re: USA oil reserves [Re: jk] #7530695
03/17/22 11:42 AM
03/17/22 11:42 AM
Joined: Jul 2017
Posts: 2,672
Ohio
W
Willy Firewood Offline
trapper
Willy Firewood  Offline
trapper
W

Joined: Jul 2017
Posts: 2,672
Ohio
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. [Linked Image]


FRAC LIVES MATTER
Re: USA oil reserves [Re: jk] #7530696
03/17/22 11:44 AM
03/17/22 11:44 AM
Joined: Mar 2007
Posts: 35,211
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,211
McGrath, AK
X 2 Willy !!


Mean As Nails
Re: USA oil reserves [Re: danny clifton] #7530699
03/17/22 11:45 AM
03/17/22 11:45 AM
Joined: Jan 2007
Posts: 5,263
Northern Minnesota
BernieB. Offline
trapper
BernieB.  Offline
trapper

Joined: Jan 2007
Posts: 5,263
Northern Minnesota
Originally Posted by danny clifton
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!

Re: USA oil reserves [Re: jk] #7530709
03/17/22 11:54 AM
03/17/22 11:54 AM
Joined: Dec 2010
Posts: 11,217
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 11,217
Armpit, ak
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?
Re: USA oil reserves [Re: Dirt] #7530712
03/17/22 11:57 AM
03/17/22 11:57 AM
Joined: Dec 2008
Posts: 4,421
Yukon
Y
yukon254 Offline
trapper
yukon254  Offline
trapper
Y

Joined: Dec 2008
Posts: 4,421
Yukon
Originally Posted by Dirt
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!


do unto others as you would have them do unto you

www.grizzlycreeklodge.com
Re: USA oil reserves [Re: danny clifton] #7530722
03/17/22 12:09 PM
03/17/22 12:09 PM
Joined: Sep 2013
Posts: 10,406
Northeast Oklahoma
M
Mike in A-town Offline
trapper
Mike in A-town  Offline
trapper
M

Joined: Sep 2013
Posts: 10,406
Northeast Oklahoma
Originally Posted by danny clifton
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-03

Mike


One man with a gun may control 100 others who have none.

Vladimir Lenin
Re: USA oil reserves [Re: white17] #7530725
03/17/22 12:12 PM
03/17/22 12:12 PM
Joined: Dec 2008
Posts: 4,421
Yukon
Y
yukon254 Offline
trapper
yukon254  Offline
trapper
Y

Joined: Dec 2008
Posts: 4,421
Yukon
Originally Posted by white17
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


do unto others as you would have them do unto you

www.grizzlycreeklodge.com
Re: USA oil reserves [Re: Dirt] #7530888
03/17/22 03:43 PM
03/17/22 03:43 PM
Joined: Nov 2017
Posts: 11,356
Maine, Aroostook
Posco Offline
trapper
Posco  Offline
trapper

Joined: Nov 2017
Posts: 11,356
Maine, Aroostook
Originally Posted by Dirt
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?

Re: USA oil reserves [Re: Posco] #7530893
03/17/22 03:56 PM
03/17/22 03:56 PM
Joined: Dec 2006
Posts: 21,716
Sandhills Nebraska
G
Gary Benson Offline
trapper
Gary Benson  Offline
trapper
G

Joined: Dec 2006
Posts: 21,716
Sandhills Nebraska
Originally Posted by Posco
Originally Posted by Dirt
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.
Re: USA oil reserves [Re: yukon254] #7530902
03/17/22 04:20 PM
03/17/22 04:20 PM
Joined: May 2008
Posts: 3,888
Mn
N
nightlife Offline
trapper
nightlife  Offline
trapper
N

Joined: May 2008
Posts: 3,888
Mn
Originally Posted by yukon254
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
Re: USA oil reserves [Re: jk] #7530915
03/17/22 04:50 PM
03/17/22 04:50 PM
Joined: Dec 2010
Posts: 11,217
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 11,217
Armpit, ak


Who is John Galt?
Re: USA oil reserves [Re: jk] #7530951
03/17/22 05:58 PM
03/17/22 05:58 PM
Joined: Apr 2012
Posts: 2,994
new york
M
mike mason Offline
trapper
mike mason  Offline
trapper
M

Joined: Apr 2012
Posts: 2,994
new york
Advances in drilling geophysical and well log interpretation with the development of computers put the oil industry in the fast lane.

Re: USA oil reserves [Re: jk] #7531169
03/17/22 09:49 PM
03/17/22 09:49 PM
Joined: Dec 2006
Posts: 2,213
central Missouri
B
Bigfoot Offline
trapper
Bigfoot  Offline
trapper
B

Joined: Dec 2006
Posts: 2,213
central Missouri
When I was in the Bakkan staying in a man camp run by Hess. I ate dinner with a geologist that said there were geologist that believed oil was actually a fossil fuel , and there was a growing number of geologist that believed it is inorganic and is constantly exuded by the earth's mantle and trapped under impermeable layers of rock . This is why when they uncapped many old dead wells to find they now produced more than they did when they were active back in the day . He said the reason they find DNA is that there is life everywhere on this planet and it's silly to think that a rich hydrocarbon would not have bacteria adapted to feeding on it .

Re: USA oil reserves [Re: jk] #7531294
03/18/22 03:05 AM
03/18/22 03:05 AM
Joined: Jul 2017
Posts: 2,672
Ohio
W
Willy Firewood Offline
trapper
Willy Firewood  Offline
trapper
W

Joined: Jul 2017
Posts: 2,672
Ohio
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”.

[Linked Image]

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
Re: USA oil reserves [Re: jk] #7531303
03/18/22 04:59 AM
03/18/22 04:59 AM
Joined: Mar 2021
Posts: 611
Sergievsk, Russia
K
KOSOI Offline
trapper
KOSOI  Offline
trapper
K

Joined: Mar 2021
Posts: 611
Sergievsk, Russia
Where is the logic? If you have so much oil, why don't you produce it and sell it to other countries?

Re: USA oil reserves [Re: KOSOI] #7531309
03/18/22 05:21 AM
03/18/22 05:21 AM
Joined: Jul 2012
Posts: 3,626
N. Carolina
S
Scout1 Offline
trapper
Scout1  Offline
trapper
S

Joined: Jul 2012
Posts: 3,626
N. Carolina
Originally Posted by KOSOI
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 & MTG in 2024!
Re: USA oil reserves [Re: KOSOI] #7531406
03/18/22 08:28 AM
03/18/22 08:28 AM
Joined: Jan 2007
Posts: 5,263
Northern Minnesota
BernieB. Offline
trapper
BernieB.  Offline
trapper

Joined: Jan 2007
Posts: 5,263
Northern Minnesota
Originally Posted by KOSOI
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.

Re: USA oil reserves [Re: KOSOI] #7531482
03/18/22 09:37 AM
03/18/22 09:37 AM
Joined: Dec 2010
Posts: 11,217
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 11,217
Armpit, ak
Originally Posted by KOSOI
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. smile


Who is John Galt?
Re: USA oil reserves [Re: jk] #7531518
03/18/22 09:59 AM
03/18/22 09:59 AM
Joined: Dec 2006
Posts: 2,213
central Missouri
B
Bigfoot Offline
trapper
Bigfoot  Offline
trapper
B

Joined: Dec 2006
Posts: 2,213
central Missouri
Willy are there any of the small oil companies left after the oil glut/slump that started up in the fracking boom . The ones that had to pump cheap oil or go broke

Re: USA oil reserves [Re: jk] #7531540
03/18/22 10:18 AM
03/18/22 10:18 AM
Joined: Mar 2021
Posts: 611
Sergievsk, Russia
K
KOSOI Offline
trapper
KOSOI  Offline
trapper
K

Joined: Mar 2021
Posts: 611
Sergievsk, Russia
Originally Posted by Dirt
Originally Posted by KOSOI
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. smile

I have a feeling you won't be able to buy it anytime soon.

Re: USA oil reserves [Re: jk] #7531597
03/18/22 11:31 AM
03/18/22 11:31 AM
Joined: Jul 2017
Posts: 2,672
Ohio
W
Willy Firewood Offline
trapper
Willy Firewood  Offline
trapper
W

Joined: Jul 2017
Posts: 2,672
Ohio
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
Re: USA oil reserves [Re: jk] #7531632
03/18/22 12:20 PM
03/18/22 12:20 PM
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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 01:11 PM.

Who is John Galt?
Re: USA oil reserves [Re: jk] #7531765
03/18/22 02:55 PM
03/18/22 02:55 PM
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Chesapeake and rex were ones I was thinking of maybe Mark West . it's been awhile . I don't remember all the names . They were drilling on credit and when things went south they went bankrupt and got bought out by bigger companies .

Re: USA oil reserves [Re: jk] #7531776
03/18/22 03:23 PM
03/18/22 03:23 PM
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To address the OP., recoverable reserves in the United States are tens of billions of barrels compared to hundreds of billions of barrels in the Persian Gulf region. Anyone who claims otherwise has no idea what they are talking about.

Re: USA oil reserves [Re: jk] #7531943
03/18/22 07:42 PM
03/18/22 07:42 PM
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Who is John Galt?
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