Oil Reserves US & Canada

Story time:

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US O&G reply:

US Oil & Gas Association
@US_OGA

Actually what's ironic is rain on your wedding day.

A free ride when you've already paid etc.

But America’s energy independence because we bet on shale - when others bet on wind - well -

Life has a funny, funny way of helping you out.

Heard that somewhere.

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An idiot replying to US O&G:

Sumbolus
@sumbolus

Weren’t you the assholes lying to us about ‘world pricing’ of oil?

Now here you are lying about natural gas having an ‘American’ price.

Correct me if I am wrong, but doesn’t natural gas come roughly from the same place as the oil?

And doesn’t natural gas get shipped in roughly the same ways as oil?

Wouldn’t that mean there is roughly the same level of risk that you claimed had to be priced into the product?

Then natural gas should have a ‘world’ price, too. Right?

Or do you have some other standby lie to tell us in the vain hope that nobody is paying attention and will just forget about all of it soon enough?

Because the one thing that will tell if I am an idiot and you are telling the truth are the quarterly reports from the all those oil companies. If they have a bumper crop of profits, then they - and you - have been lying and they - and you - were gouging on the prices the entire time.

Tick tock… don’t want to keep the IRS in the dark and miss those deadlines, do you?

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US O&G reply to idiot:

US Oil & Gas Association
@US_OGA

Friday night and time for a random execution of a typical USOGA critic.

How do we choose?

If your leadout is calling us an a-hole and accusing us of lying.

That moves you to the top of the list.

Let's begin.

Yes - you are wrong.

Are you an idiot? l don't know but others can weigh in. Evidence is strong however.

Some basic corrections.

"Doesn’t natural gas come roughly from the same place as the oil?"

Yes it comes from underground. Good job.

"And doesn’t natural gas get shipped in roughly the same ways as oil? Wouldn’t that mean there is roughly the same level of risk that you claimed had to be priced into the product? Then natural gas should have a ‘world’ price, too. Right?

Sort of, sort of and no.

Oil and natural gas are not produced in equal amounts at the same time from the same well

Some wells are primarily nat gas wells. Some are primarily crude oil with gas as a byproduct.

Many wells are very expensive dry holes.

Crude trades globally because it can be moved by tanker, truck, rail or pipeline anywhere in the world.

Nat gas trades regionally and is moved by primary by pipeline. Outside of pipeline networks it is difficult to ship

North American gas is produced, transported and consumed in North America.

The North American market is abundantly supplied thanks to US shale gas. So much so our LNG is beginning to link US gas to global markets but nat gas remains and will be priced regionally for a long time from now.

We didn't "lie" about world pricing—we told the truth about physics, infrastructure, and markets.

Shale innovation delivered American energy dominance.

Companies risked billions and sometimes earn profits but only after we pay billions in expenses, taxes, royalties and leases.

Tick tock....