PETROLPHOBIA (Page 41/66)
USFiero JAN 31, 09:56 AM
STILL ALIVE. $2.56 in south Florida. I understand we (the US) are now the leading exporter of energy again.

[This message has been edited by USFiero (edited 01-31-2018).]

maryjane JAN 31, 10:20 AM
Going to continue to rise too. The 140,000 bbl/day Philips66 refinery in NJ is due for a maintenance shut down before the spring/summer driving season begins and crude has pretty much stabilized at $60+ a barrel so refiners are having to pay more for feedstock than they did this time last year. Additionally, refiners have more contractual obligations this year for exporting finished products which lowers the inventory available for domestic sales.
MadMark JAN 31, 01:50 PM
Still a whole lot better than during the Obama regime when he was trying to tie up and shut down anything related to energy production from fossil fuels. Drill baby drill.
steve308 JAN 31, 02:44 PM
Read an article that a drilling rig somewhere in the Dakotas caught fire about ten days ago and sure enough the price of gas has jumped $ .29 since then. I also find it interesting that as the long term overall fuel economy of vehicles increases, the price of gas at the pump also increases to compensate for the oil companies lost revenue.
maryjane FEB 01, 01:05 AM

quote
Originally posted by steve308:

Read an article that a drilling rig somewhere in the Dakotas caught fire about ten days ago and sure enough the price of gas has jumped $ .29 since then. I also find it interesting that as the long term overall fuel economy of vehicles increases, the price of gas at the pump also increases to compensate for the oil companies lost revenue.



correlation does not = causation.

As far as I know, the last rig fire/blowout in the Dakotas was in 2016.
USFiero APR 17, 03:10 PM
Congratulations, America. We now produce more oil and export energy at a higher output than SAUDI ARABIA.

High Fives all around!
USFiero JAN 02, 10:28 AM
Do I even need to point out that gas prices have experienced.... relief?


Like, Holy Flashback to 2005 Batman!

[This message has been edited by USFiero (edited 01-02-2019).]

rinselberg JAN 02, 10:44 AM
Well, this seems like a good place to offer up a report that I have had captured in my web browser for several days, but actually have still not yet read all the way through with a careful focus.

"Texas, New Mexico Oil and Gas Reserves are Largest Ever Assessed, Bringing Economic Hope, Environmental Concern"
Pam Wright for Weather(.com); December 19, 2018.
https://weather.com/science...s-reserve-assessment

quote
An announcement by the U.S. Geological Survey earlier this month that the potential largest oil and natural gas reserve ever assessed is sitting beneath Texas and New Mexico has government officials rejoicing. Environmentalists are not as thrilled.

The USGS report says a four-year assessment at the the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province revealed underground petroleum reserves that may potentially hold up to 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids. This makes it the largest reserves ever assessed in the United States.

The deposit has nearly three times more oil and gas than the agency found in 2013 in North Dakota's Bakken shale and is nearly three times the amount of petroleum products used by the entire United States in a single year, NPR reports.

<SNIP>



Includes a brief video segment at the very top.
USFiero JAN 30, 06:20 AM
In spite of Iran trying to **** on the Middle East, gas prices have remained 'stable.'

American energy (near) independence has contributed to world Peace and economic stability. Only this nation could do something like that where 'promising' economies like Venezuela fail.

We will never be a Socialist nation, or we will fail and take the world with us.

P.S. wind energy is not a great solution in it's current form, unless you like ugly, inefficient bird shredders.
maryjane JAN 30, 12:10 PM
Unlikely that the NM/Tx field will be developed very soon. Developing a new play is VERY expensive and the returns right now pretty slim with overall global prices around $55/bbl but current WT/NM intermediate prices are a lot less. That big reserve has been known about for nearly 4 years now..the only thing new is how big it actually is. Questions however..remain:

The USGS qualifies the figures of their massive discovery as consisting of undiscovered, technically recoverable resources, which they define as, "those [resources] that are estimated to exist based on geologic knowledge and already established production, while technically recoverable resources are those that can be produced using currently available technology and industry practices. Whether or not it is profitable to produce these resources has not been evaluated."

https://oilprice.com/oil-price-charts#

[This message has been edited by maryjane (edited 01-30-2020).]