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Started By
Message
Christmas came early: Zinke announces MASSIVE new oil/NG discovery in NM
Posted on 12/6/18 at 1:26 pm
Posted on 12/6/18 at 1:26 pm
LINK
OPEC just collectively shite their pants and Obama is trying to figure out how to take credit for this.
Muh finite resources!
quote:
The U.S. Geological Survey announced Thursday that it discovered one the largest new sources of oil and natural gas under Texas and New Mexico. "Christmas came a few weeks early this year," Interior Secretary Ryan Zinke said as he unveiled the new find. "American strength flows from American energy, and as it turns out, we have a lot of American energy." Zinke said the new assessment makes him even more bullish that "American energy dominance is within our grasp as a nation."
quote:
The new shale oil and gas formation known as Wolfcamp, which is adjacent to the oil-rich Permian region in Texas, contains an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids, according to the U.S. Geological Survey. "The results of this most recent assessment and that of the Wolfcamp Formation in the Midland Basin in 2016 are our largest continuous oil and gas assessments ever released,” said Dr. Jim Reilly, director of the U.S. Geological Survey. “Knowing where these resources are located and how much exists is crucial to ensuring both our energy independence and energy dominance.”
OPEC just collectively shite their pants and Obama is trying to figure out how to take credit for this.
Muh finite resources!
23
Posted on 12/6/18 at 1:28 pm to bamarep
Truck nuts [ON] OFF
Posted on 12/6/18 at 1:29 pm to WildTchoupitoulas
Go ahead bootlicker, tell us how inexpensive fuel and energy independence is a bad thing.
Even you dumbasses can't spin this as bad.
Even you dumbasses can't spin this as bad.
Posted on 12/6/18 at 1:30 pm to bamarep
quote:
Muh finite resources!
Well, they are finite, technically.
Posted on 12/6/18 at 1:30 pm to bamarep
I will wait until 90Proof and IB Reeeeeman chime in.
Posted on 12/6/18 at 1:31 pm to bamarep
I guess we are clear from pea oil for a while longer lol
Posted on 12/6/18 at 1:31 pm to bamarep
I am always amazed when they find these things. Doesnt' west texas already have a ton of oil/ng? How is that they are just finding this now?
Posted on 12/6/18 at 1:32 pm to bamarep
The USGS updated the proven/probable reserves of the wolfcamp, a well known formation that's been producing for years. These sensationalist headlines are odd.
Posted on 12/6/18 at 1:32 pm to bamarep
Where is that gif from????
I can’t imagine ever having a reason to set a well on fire.
I can’t imagine ever having a reason to set a well on fire.
Posted on 12/6/18 at 1:33 pm to WildTchoupitoulas
quote:
Damn, that's bad news.
It's good news for the country so libs think it's terrible news! Seek help
Posted on 12/6/18 at 1:33 pm to bamarep
quote:
Even you dumbasses can't spin this as bad.
Low energy prices are bad for Louisiana.
Less jobs here, less severance tax revenue for the state - leading to another budget crisis.
Before that find, I was seeing gas in BR going for just over $2.00 a gallon. That's ALREADY inexpensive. As a matter of fact, it's cheaper than the 35 cents per gallon they were paying back in '65, before the oil embargoes - adjusted for inflation.
Posted on 12/6/18 at 1:35 pm to Bunyan
quote:
It's good news for the country so libs think it's terrible news! Seek help
Guess what, Bossier, that's going to collapse the fracking industry that's been going on around your part of the country.
Posted on 12/6/18 at 1:35 pm to WildTchoupitoulas
As with most things, what’s good for the nation is bad for Louisiana and vice/versa.
Posted on 12/6/18 at 1:37 pm to bamarep
That gif is awesome.
Posted on 12/6/18 at 1:37 pm to bamarep
Remember the peak oil BS theory?
Lol
Lol
Posted on 12/6/18 at 1:37 pm to kingbob
quote:
As with most things, what’s good for the nation is bad for Louisiana and vice/versa.
Yep.
Posted on 12/6/18 at 1:39 pm to bamarep
Uh the Wolfcamp isn't a new discovery? The Permian boom in NM and TX has been going on for a while now - with the Wolfcamp being the most actively drilled formation.
Posted on 12/6/18 at 1:41 pm to HailHailtoMichigan!
Posted on 12/6/18 at 1:42 pm to HailHailtoMichigan!
quote:
Remember the peak oil theory?
Yes.
Peak discovery occurred in the 60s.
Unless you think petroleum is a renewable resource, peak oil is inevitable. Sorry.
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