Exactly what the environmentalists dont want:
US shale oil supply shock shifts global power balance. A steeper-than-expected rise in US shale oil reserves is about to change the global balance of power between new and existing producers, a report says. Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA). The US will change from the world's leading importer of oil to a net exporter. Demand for oil from Middle-East oil producers is set to slow as a result.
What If We Never Run Out of Oil? In the 1970s, geologists discovered crystalline natural gas — methane hydrate, in the jargon — beneath the seafloor. Stored mostly in broad, shallow layers on continental margins, methane hydrate exists in immense quantities; by some estimates, it is twice as abundant as all other fossil fuels combined. Despite its plenitude, gas hydrate was long subject to petroleum-industry skepticism. These deposits — water molecules laced into frigid cages that trap "guest molecules" of natural gas — are strikingly unlike conventional energy reserves.
The Editor says...
"Methane hydrate" is no more jargon than "carbon dioxide." This is an example of a writer dumbing down a technical article, presumably to avoid alienating poorly educated readers, of which there are so many.
A Tale of Two Oil States. Barely unnoticed [sic] outside energy circles, Texas has doubled its oil output since 2005. Even with the surge in output in North Dakota's Bakken region, Texas produces as much oil as the four next largest producing states combined.
Companies line up to drill after survey shows Dakota oil, gas fields far bigger than believed. Energy companies are lining up for their shot to drill in the Dakotas and Montana after a new government report revealed that a massive geological formation stretching across the states contains twice the oil and three times the amount of natural gas than was originally believed.
N.D. oil is more plentiful than previously thought. The sea of oil and natural gas underneath North Dakota is far larger than first thought. There are 7.4 billion barrels of recoverable oil in the western part of the state and extending into Montana, according to the latest estimate by the U.S. Geological Survey. That's more than twice the oil the USGS estimated could be recovered five years ago. What's more, the USGS has nearly tripled its estimate of the natural gas available in the area.
An Era of Endless Energy Is At Hand. The cost of energy is one of the key determinants of economic growth, and the United States is poised to become the world's great energy superpower for the foreseeable future. Cheap energy is like an across the board tax cut: it lifts all the boats. If the U.S. only had a competent government, there would be no stopping us.
ND oil production has increased more than 600%. Oil production in North Dakota has increased more than 600% in the past several years, from 35.7 million barrels of oil in 2005 to 237 million barrels in 2012. In 2005, North Dakota was the No. 8 oil-producing state in the nation, and in just seven years has moved up to become the No. 2 state for oil output in 2012, behind only No. 1 Texas.
Gas News: North Dakota building first US oil refinery since 1976. In one of the biggest news to come out of North Dakota, one of the first domestic oil refineries in the U.S. is under construction, the first since 1976. This, and the Keystone XL oil pipeline, could help the U.S. wean itself from past over-reliance on foreign oil.
Texas oil and gas jobs flourished in 2012. A recent report confirms what you already knew: People in the oil and gas industry make more money than you, and Texas is producing lots more oil. The Texas Independent Producers & Royalty Owners Association's "State of Energy Report" says the industry employs more than 971,000 people in the U.S., including about 379,800 in Texas.
America Can Drill Its Way Out Of The Middle East. Iraq, relieved of a tyrant and transformed into a representative government, is falling under Iran's command. Meanwhile, Afghanistan resists progress. We need a new Mideast policy, which begins with a new energy policy.
Peak Oil Cult Is Proved Spectacularly Wrong. In December, U.S. oil exports hit a record of 3.6 million barrels per day, thanks in part to soaring domestic petroleum production. Last year, domestic natural gas production averaged 69 billion cubic feet per day, a record, and a 33% increase over the levels achieved back in 2005. That year, Lee Raymond, the famously combative former CEO of ExxonMobil, declared that "gas production has peaked in North America."
UK Shale Gas Numbers Could Be Stratospheric. While Europe dithers over whether the blatant economic success of the US shale gas 'miracle' will translate to these shores, the UK Government has been slightly more pro-shale active. But, while the threat of (liberal democrat-instituted) over-regulation still casts a shadow, the pro-shale (mostly conservative) wing of government looks set for a stratospheric boost.
Oil's new reign in Texas draws comparisons to the Kingdom. Oil production in Texas is soaring, jumping to an average 2.139 million barrels a day in November — the best showing in more than 25 years. Analysts are chalking up Texas' booming production to shale plays, especially South Texas' Eagle Ford, where production was minuscule just five years ago, along with a revival of West Texas' Permian Basin.
The President's Energy Policy Leaves a Lot of Energy Out. In Obama's big Energy Speech, at the truck plant in North Carolina, he reiterated his usual excuse that "America has just two percent of the world's oil, but we use twenty percent of the world's oil." President Obama's two percent is that teeny little red pyramid on the top.
Oil production to grow at fastest rate ever. Driven by the shale boom, the United States in 2014 will hit its highest daily oil production level since 1988 and will grow oil output at the highest rate ever, the U.S. Energy Information Administration predicted Tuesday [1/8/2013]. U.S. daily oil production, which averaged 6.4 million barrels a day in 2012, will surge 23 percent to average 7.9 million barrels a day in 2014, the administration said.
Robber Barony: Obama Energy Policy By Another Name. It is time for more Americans to learn about the real energy boom that the Obama Administration is trying to keep under wraps in major and countless minor ways.
California could edge out Texas in oil production. Last week, the U.S. Bureau of Land Management sold 15 leases for about 18,000 acres in California's Monterey Shale, which stretches 200 miles south from San Francisco. The U.S. Energy Information Administration estimates the shale formation could hold 15.4 billion barrels of oil, which would be double the combined reserves of the Bakken formation in North Dakota and the Eagle Ford shale of South Texas, Bloomberg News reports.
Energy to Spare. Coal, natural gas, and oil remain the least expensive and most convenient fuels. That's why they supply more than 85 percent of energy today. There are technical alternatives to these energy sources, but no economic alternatives. [...] Americans could produce even more energy if the U.S. government freed up access to existing resources. The U.S. alone is estimated to possess 30 billion barrels of oil reserves based on current technology. Total resources are far greater and will yield even more recoverable supplies as technology advances. Off-shore oil deposits add even more.
Oil and Gas Jobs Hit 25-year High; Coal Slumps. The number of oil and gas jobs in the U.S. climbed to 196,300 in November, according to Friday's Bureau of Labor Statistics (BLS) monthly jobs report. This is their highest level since February 1988. According to the BLS report, oil and gas jobs rose from 183,200 in November 2011, and grew slightly over October's numbers, continuing a trend of resilient job growth in the oil and gas sector. Meanwhile, coal job numbers continued to slump down from 81,100 in September to 80,500 in November. Those numbers are both down from the 87,00 coal jobs reported in November 2011.
U.S. To 'Become Largest Global Oil Producer' By 2020, 'Net Oil Exporter' By 2030 — If We Let It. In a striking blow for the environmental left, the International Energy Agency has released a report detailing how the United States is on track to outpace Saudi Arabia in oil production. This surely puts the Obama administration in a bind concerning its green energy monomania that has dominated their energy policy for the past four years. This finding shows that the United States can be energy independent, and we have the resources to do so. However, the boot of government is trying to centralize and control those resources to expand their dependency agenda.
IEA: U.S. to Become the World's Largest Oil Producer Oil. The International Energy Agency (IEA) is telling us what we already know: the shale oil boom will make the global energy picture with the United States as the top oil and natural gas producer. According to the IEA, the United States will become the world's largest producer of oil by 2017 overtaking both Saudi Arabia and Russia.Company drilling in Nevada could be sitting on 187 Million oil barrels. U.S. Oil and Gas, of Dublin, has been using 'groundbreaking' technologies for its first major drilling project in Hot Creek Valley, Nevada, with local media suggesting it is sitting on an enormous oil lake. One well could generate a breathtaking 187 million barrels of oil, reports suggested — although the company has insisted testing is not yet complete and the size of the oil field is not yet certain.
The U.S. will be the world's leading energy producer, if we allow it. As readers of these pages know, the key to this U.S. energy boom has been technological innovation and risk-taking funded by private capital. Specifically, the private oil and gas industry pioneered the use of horizontal drilling and hydraulic fracturing (or fracking) to tap unconventional deposits such as shale that once were technologically out of reach. It also wouldn't have happened if the industry wasn't able to drill on private land, free from federal regulation. This is a real energy revolution, even if it's far from the renewable energy dreamland of so many government subsidies and mandates.
Barack H. Obama is doing everything he can to prevent this:
U.S. Oil Output to Overtake Saudi Arabia's by 2020. U.S. oil output is poised to surpass Saudi Arabia's in the next decade, making the world's biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said. Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about five years starting about 2020, the Paris-based adviser to 28 nations said today [11/12/2012] in its annual World Energy Outlook.
This is an original compilation, Copyright © 2013 by Andrew K. Dart
An Alaskan Challenge for 'All of the Above' Energy. An accident with no environmental impact is being exploited for political purposes in an effort to halt offshore exploration in Alaska.Obama's Great Alaska Shutout. President Obama is campaigning as a champion of the oil and gas boom he's had nothing to do with, and even as his regulators try to stifle it. The latest example is the Interior Department's little-noticed August decision to close off from drilling nearly half of the 23.5 million acre National Petroleum Reserve in Alaska. The area is called the National Petroleum Reserve because in 1976 Congress designated it as a strategic oil and natural gas stockpile to meet the "energy needs of the nation." Alaska favors exploration in nearly the entire reserve. The feds had been reviewing four potential development plans, and the state of Alaska had strongly objected to the most restrictive of the four. Sure enough, that was the plan Interior chose.
America's Big Fat Advantage. "Peak oil" and our "oil addiction" were supposed to have ensured that we ran out of either gas or the money to buy it. Now, suddenly, we have more gas and oil than ever before. But the key question is: Why do we? The oil-and-gas renaissance was brought on by horizontal drilling and fracking that opened up vast new reserves that were previously either unknown or considered unrecoverable. Both technological breakthroughs were American discoveries, largely brought on by entrepreneurial mavericks and engineers exploring on mostly private lands.
BP CEO: 'Peak oil' talk quieted by abundance. BP CEO Robert Dudley said booming oil-and-gas production from sources including onshore shale formations and deepwater regions has defeated arguments that global oil production will soon peak and go into an irreversible decline. Dudley, in a speech, noted projections of overall global demand energy growing by over a third by 2030, including the need for around 16 million more barrels per day at that time. But he said that the ability produce from oil-and-gas reservoirs that were once out-of-reach will enable supply to keep up.
Is the Theory of 'Peak Oil' Dead? Yet another voice has questioned the theory of "peak oil," which posits future scarcity, rising prices, and economic collapse due to the lack of precious fuels that drive the global economy. [...] In North America oil supply has grown annually by roughly 500,000 barrels per day while demand shrinks because vehicles are increasingly burning less gasoline.
End of an Era: The Death of Peak Oil. For decades, pundits have been trying to predict a tipping point for Peak Oil — when a sustained and unabated climb in oil prices sparks a near-collapse of the global economy. According to Peak Oil theory, the rate of petroleum extraction will crest and then begin an immutable decline, pushing oil prices ever higher as demand for this finite resource permanently exceeds supply. However, an array of structural shifts in the Energy industry is conspiring to insulate the global economy from any such dramatic increase in the price of oil. After decades of indifference, pivotal U.S. consumers have radically altered their consumption of petroleum and related products, moderating demand for the world's largest market. Concurrently, heightened investments and technological breakthroughs have spurred an explosion in resources, as source rock has expanded the definition of "finite resource."
Great Moments In Failed Predictions. In 1865, Stanley Jevons (one of the most recognized 19th century economists) predicted that England would run out of coal by 1900, and that England's factories would grind to a standstill. In 1885, the US Geological Survey announced that there was "little or no chance" of oil being discovered in California. In 1891, it said the same thing about Kansas and Texas.Mexico details Gulf oil find. After more than a dozen attempts, Mexico's national petroleum monopoly has struck significant oil very near the U.S. boundary in the ultra-deep waters of the Gulf of Mexico, President Felipe Calderon said Wednesday [8/29/2012]. "This is a great discovery," Calderon said in announcing the find by Petroleos Mexicanos, or Pemex, beneath more than 8,300 feet of water and miles of earth, the first successful well in a system that he said ultimately may hold as much as 10 billion barrels of oil.
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Updated May 20, 2013.
©2013 by Andrew K. Dart