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re: Heard on the news $4 a gallon gas again
Posted on 1/16/11 at 9:03 pm to TH03
Posted on 1/16/11 at 9:03 pm to TH03
quote:
Fail. Nice assumption though, but do some research. The Bakken in the Dakotas/Minnesota has enough oil, not to mention the up and coming Delaware Basin in West Texas.
Fail. While the oil shales are significant and fantastic discoveries - they will not produce enough oil to cover US consumption. Do you realize just how tremendous US oil consumption really is? And just so you understand, I would like to drill everywhere and anywhere, however, I have no illusions that the US will ever be energy independent.
It's interesting that you would forget to mention the Eagle Ford, Niobrara and Utica shales - all oil, all very significant. The Eagle Ford has been called the 6th largest domestic oil "discovery" - it was there but the tech wasn't.
2
Posted on 1/16/11 at 9:37 pm to cwill
Hopefully it goes to $4 and oil goes to $150. I would give me the opportunity to short the crap out of some funds/stocks when people go into mass hysteria like they did 2-3 years ago.
Posted on 1/17/11 at 8:42 am to cwill
quote:
It's interesting that you would forget to mention the Eagle Ford, Niobrara and Utica shales - all oil, all very significant.
Yea, I've worked the Eagle Ford and Niobrara. Most companies in the Haynesville Shale (Chesapeake and Petrohawk to name a couple) are shifting most of their efforts towards the Eagle Ford and the Delaware Basin, with Petrohawk planning to be pretty much out of the Haynesville by 2012.
quote:
The Eagle Ford has been called the 6th largest domestic oil "discovery" - it was there but the tech wasn't.
Same with any shale, Haynesville, Marcellus, the technology, as well as the ridiculous cost to drill the vertical and then bring in the horizontal wasn't available until the past 5 or so years. Not to mention all the water needed for the fracs, which only brings the cost up higher. But until we utilize the abundance of natural gas in the NW LA area, drilling will continue to go down, as most companies already have plans to pull out of the Haynesville.
quote:
I have no illusions that the US will ever be energy independent.
It is possible, but not independent on Oil alone. The only thing I agree with Obama on is utilizing the domestic natural gas reservoirs thus preserving the new oil discoveries.
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