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  1. #1 A manufactured oil and gas crisis lives on 
    Senior Member Janice's Avatar
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    GAO To Obama: More Oil Than Rest Of The World

    Energy: The Government Accountability Office tells Congress the Green River Formation out West contains an "amount about equal to the entire world's proven oil reserves." So why are we keeping it locked up on federal lands?

    Exploding the Big Lie pushed by President Obama that we can't drill our way out of high gas prices because we have but 2% of the world's proven oil reserves, Anu Mittal, GAO director of natural resources and environment, testified before Congress last week that just one small part of the U.S. is capable of outproducing the rest of the planet. >>>

    Given that current U.S. daily oil consumption is running at 19.5 million barrels, the staggering amount of Green River reserves would by itself supply domestic oil consumption for more than 200 years. >>>

    There are obstacles to be sure, but they are matters of will more than technology.

    The nation that put men on the moon because it wanted to could be energy-independent in the lifetime of most of its citizens. The choice in November will be between that future and one that consists of harvesting algae and driving electric cars that explode.

    Investor'sBusinessDaily

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    Any bets that our liar in chief gives some of that land to the UN or sells it to the Chicoms in return for more borrowed dollars?
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  2. #2  
    CU Royalty JB's Avatar
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    Good article. From what I understood shale extraction is quite expensive but the article states that we can extract this oil with current technology. So the obvious rhetorical question is...why aren't we damnit???

    The Obama administration recently rescinded 77 oil and gas leases in Utah.
    That's OK. Oil prices are down to $55 dollars a barrel due to proper tire inflation. Right?

    If there's legitimate cause for outrage rather than what we've been seeing lately as outrage, this is it.
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  3. #3  
    Senior Member Janice's Avatar
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    Those who create nothing morph quickly into those who destroy everything for a living.

    Just ask Zippy, the greatest creator of nothing this nation has ever seen.
    Last edited by Janice; 05-16-2012 at 06:40 AM.
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  4. #4  
    Senior Member Bailey's Avatar
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    Now I believe we should use our own oil but if we extracted all that oil shale what would that do to the environment? I am no tree huger but we should be good stewards of this land.
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  5. #5  
    Ancient Fire Breather Retread's Avatar
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    I'll tell you a secret - that is a secret only because the lsm can't give us any good news that isn't tied to the name 'obama'.

    ND Hits as #2 Oil Producer in Nation

    North Dakota plans first new U.S. oil refinery in 35 years

    Air Quality Trends

    We're not leaving it in the ground. We are building at least one new refinery. And pollution is down.
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  6. #6  
    Ancient Fire Breather Retread's Avatar
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    Eagle Ford shale an economic boom for Texas

    "The Eagle Ford shale oil and natural gas field in south Texas could turn out to be the largest recoverable oil deposit ever found in the Lower 48 states, according to a study released on Wednesday"
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  7. #7  
    Senior Member Janice's Avatar
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    The cheapest oil we have in the US is the from the Eagle Ford shale in TX, Retread. The independent producers have gotten proficient enough that they are releasing some of their oil rigs because they can develop the target amount of oil without as many rigs. That reduces the cost per barrel to below $50 and make it among the cheapest in the world today. This is looking like the year TX produced 2 million barrels a day.
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  8. #8  
    Ancient Fire Breather Retread's Avatar
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    Quote Originally Posted by Janice View Post
    The cheapest oil we have in the US is the from the Eagle Ford shale in TX, Retread. The independent producers have gotten proficient enough that they are releasing some of their oil rigs because they can develop the target amount of oil without as many rigs. That reduces the cost per barrel to below $50 and make it among the cheapest in the world today. This is looking like the year TX produced 2 million barrels a day.
    I respectfully disagree with your opening statement but, that said, it was only a matter of time before costs came down. I expect Shale oil to get below $30 bbl to find and produce within the next three years. Unless the feds make the operation so expensive from a regulatory pov as to kill the entire process.

    Permian Basin (West Texas Intermediate) is still available for under $20 bbl in some of the old Standard fields where secondary and tertiary recovery infrastructure has been in place for over 40 years. Admittedly, the production isn't millions of bbl but every bbl helps.
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  9. #9  
    Senior Member Janice's Avatar
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    We have a bright energy future and millions of jobs will be created as we access them, but we must wait until Zippy and the Green republicans are gone (from power). Otherwise (normal) life is on hold until then.

    We can only hope. Normal might not seem like such a bad thing after this experiance.
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  10. #10  
    Ancient Fire Breather Retread's Avatar
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    The great thing is that both the Bakken and the Eagle Ford are both primarily on private property such that the feds (currently) have absolutely no footprint on the operations and it is enriching individuals rather than the guvment. The refinery doesn't need fed approval, the pipeline from the Bakken to OK needs no fed approval and anyone who wants to work can get a good job with a good salary.
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