Largest shale oil reserve in US history discovered in texas

Christian Sanchez
Christian Sanchez

This is the largest estimate of continuous oil that USGS has ever assessed in the United States.

The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey. This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.

The estimate of continuous oil in the Midland Basin Wolfcamp shale assessment is nearly three times larger than that of the 2013 USGS Bakken-Three Forks resource assessment, making this the largest estimated continuous oil accumulation that USGS has assessed in the United States to date.

“The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” said Walter Guidroz, program coordinator for the USGS Energy Resources Program. “Changes in technology and industry practices can have significant effects on what resources are technically recoverable, and that’s why we continue to perform resource assessments throughout the United States and the world.”

web.archive.org/web/20161116213159/https://www.usgs.gov/news/usgs-estimates-20-billion-barrels-oil-texas-wolfcamp-shale-formation

Other urls found in this thread:

google.com/finance
forbes.com/2011/05/10/oil-company-earnings.html
en.wikipedia.org/wiki/List_of_natural_gas_and_oil_production_accidents_in_the_United_States
api.org/~/media/files/policy/taxes/why-oil-gas-tax-treatments-not-subsidies-feb-2015.pdf
thesocialnationalist.com/profit-from-pain/
offshore-mag.com/articles/print/volume-55/issue-4/news/general-interest/middle-east-geology-why-the-middle-east-fields-may-produce-oil-forever.html
alfinnextlevel.wordpress.com/2015/11/06/earths-oil-gas-fields-to-produce-until-the-sun-blows-up/
en.wikipedia.org/wiki/Abiogenic_petroleum_origin
archive.is/ZsAmq
archive.is/4w34p

Jaxson Morris
Jaxson Morris

Perfect excuse to cut all ties with the Saudi cunts the instant Trump takes office

John Scott
John Scott

Texas did 9/11

Michael Gomez
Michael Gomez

Hopefully one of the many things to come of "things suddenly going totally right" after Trump's election.

Anthony Rogers
Anthony Rogers

We actually export most of our domestic oil for (((some reason)))

Can't wait until gas becomes like 50 cents a gallon in Texas because all the refineries are working overtime

Liam Stewart
Liam Stewart

gas will be 75 cents to the gallon again
jobs will be created to get to and refine the oil
God bless you Donald Trump, I'm sure you had something to do with this.

Benjamin Hill
Benjamin Hill

Isn't shale oil like the shittiest oil that's a bitch to refine?

Hunter Wilson
Hunter Wilson

We're gonna get America working again!

Ethan Rodriguez
Ethan Rodriguez

Still, thats alot of oil.
And trump wants to work on shale.\

Also it looks like a face. Thats some kind of good omen.

Christopher Green
Christopher Green

Not complaining. Hopefully it comes with advancements in the refining methods as well.

Christopher Hill
Christopher Hill

Those who stand against Trump are punished by his curse, those who stand up for him get rewarded. So shall it be

Evan Kelly
Evan Kelly

Shale huh?
Well that's probably going to leave one hell of a mess during extraction and be uneconomic

Ryder Rivera
Ryder Rivera

Wait, I just realized this pic got a lot more accurate with sleepy negro saying he won't be part of the cabinet. Baneposting does it again!

Brayden Scott
Brayden Scott

Kek's present to Trump.

Dylan Martinez
Dylan Martinez

My gut is he's going to be focused on fixing the black america problem.
If trump can get tangible results inside of 4 years he's won the next election

Isaiah Wright
Isaiah Wright

i still dont understand why Carson didnt want a cabinet position, what will he do? why did he really turn down a bright future working with Trump admin?

Luis Martinez
Luis Martinez

There's other things you can do for a president.
He's defined himself as a key ally so a cabinet post may not be the best use of him.

Aaron Cruz
Aaron Cruz

Because they expect one of us in the wreckage brother

Austin Campbell
Austin Campbell

This.

If there is so much in that location, people are gonna find the best methods and improve on it. Excess shale? Can't it be used for buildings or as an aggregate material?

they found a creepy stone mask in south america a year or two ago, and now we're finding an oil boom in the us. We JJBA now

Angel Smith
Angel Smith

Creepy stone mask?

And that's not how shale oil/gas extraction works.
It's fracked.
Hence why it's messy and dangerous.

Kevin Smith
Kevin Smith

Cut out your shilling
We're gonna start drilling

Leo Lee
Leo Lee

This is less than 100 days oil supply for the US, hardly enough to cut ties with the happy oil merchants. Shale oil is also not profitable to refine at less than $60 a barrel, so OPEC is going to fuck us on energy independence yet again. US has fucktons of shale, enough to be independent but the downside is more expensive gas and environmental damage. I would gladly pay an extra couple bucks a gallon and lose some trees to stop being the Saudi's bitch but various lobbyists, environmentalists, and idiot consumers will never let that happen. Nuclear power is the way to go anyway.

Bentley Bailey
Bentley Bailey

I wont pretend to know what I'm talking about. I tried to understand the petrochemical industry and read about it on wikipedia but it was just too much

Oliver Martinez
Oliver Martinez

No. You're confused. "Oil shale" is heavy kerogen trapped in marlstone and is a bitch to process. What they're calling "shale oil" is more appropriately called "light tight oil," or LTO, and it's high quality sweet crude.

t. Petroleum engineer

John Sanchez
John Sanchez

You have no idea what you are talking about and should refrain from commenting on the oil industry forever.

Evan Rodriguez
Evan Rodriguez

You're probably thinking of Canadian tar sands. Shale oil is fine, it just requires fracking to get it out of tiny pores in the formation.

Ethan Ross
Ethan Ross

Don't mind the water table contamination
White people don't need clean water

Jacob Sanders
Jacob Sanders

Fracking is safe when done properly. What should be done is to put such harsh punishment in place that they'd be fucking terrified to violate safety protocols.

Ryan Thompson
Ryan Thompson

Neo-80s Economic Boom confirmed?

Carter Cook
Carter Cook

Saudi Arabia on suicide watch. That will teach em for backing Clinton. They better get Pakistan's nukes soon.

Benjamin Clark
Benjamin Clark

What's the RoE ratio?

Nicholas Anderson
Nicholas Anderson

I hope we use these resources to maximize global competitiveness while simultaneously transitioning to high tech renewable that makes us even more competitive.

Sebastian Lewis
Sebastian Lewis

Fracking is perfectly safe in ideal conditions when all the appropriate measures are taken.
But the conditions are never ideal and the companies always cut corners.

The damage can well be permanent.
It's rarely worth the effort.

Camden Howard
Camden Howard

Depends on the energy required to extract aka Return on Energy. The more tools, the more chemistry, the more complicated, the more oil it takes to get that oil out of the ground. The main reason that the middle east does well is that it's retard entry-level oil capture, massive returns on energy expended.

The other problem with fracking is the possibility of fucking with aquifers and water tables. It's not necessarily direct causes, but indirect from drilling through structural rock and weakening it with density and pressure changes.

Samuel Brooks
Samuel Brooks

Hit the nail on the head, user.

Angel Morales
Angel Morales

Lockheed Martin supposedly has fusion coming down the pipeline. Nuclear is a decent stopgap in the meantime, I heard that the new reactors' waste is barely worth mentioning. Hopefully Trump's people have read Holla Forums and studied up on existing dam electrification as well.

Nathaniel Lopez
Nathaniel Lopez

Mostly has to do with the regulations on the refineries and the fact that we haven't built new ones in decades, you know, regulations and all. So we generally ship out crude oil and then import the refined oil to actually use.

Similar thing with Nuclear power plants, the "new" one that just got built/building has been in the works for over a decade and is only an extension if I recall, somebody double check me on that. And that liberals have absolutely poisoned the mind of most Americans on the subject (like most things) and Chernobyl didn't help either, even though France of all places uses mostly nuclear energy for the entire nation. They have some of the best, if not the best, nuclear power plants in the world.

Connor Foster
Connor Foster

The beauty of it is the more we win with Trump it continuously makes all those stupid libsht fucktards and msm shills look even more retarded.

Daniel Brooks
Daniel Brooks

Hence why you make the punishment extremely severe. Oh you cut a corner? Forfeit all your assets.

Sebastian Bell
Sebastian Bell

It's not like oil companies can't afford it. And it's not like another company won't come along and do it right. Fuck, oil companies need some competition and busting up anyway.

Ayden Long
Ayden Long

ideal conditions when all the appropriate measures are taken.
You just described every technology since Sharp Rock.

Fucking Greenpeace neoluddite moron.

Dominic Gray
Dominic Gray

Not to side with the oil companies, but many times their profit margins are actually not that big, they do make a lot don't get me wrong, but the amount of assets they hold and how many people they have to pay and the cost of the equipment is incredibly high, which cuts into the profits big time.

Brody Johnson
Brody Johnson

So they will get it out convetionally or by fracking?

The latter would be bad.

Very bad.

Kevin Diaz
Kevin Diaz

The profit margin of hydrocarbon mining companies is below that of the average coffee shop or fast food joint.

Alexander Stewart
Alexander Stewart

Can I have something to read about this?

Adrian Taylor
Adrian Taylor

Do you even know why it would be bad? Go back to leftypol.

David Wood
David Wood

MFW I moved to San Angelo less than a year ago

Joshua Thomas
Joshua Thomas

google.com/finance

Daniel Smith
Daniel Smith

Yea.

Who cares about polluted water and shit.

#YOLO

Chase Myers
Chase Myers

I was always fascinated by Tesla's wardenclyfe towers.Harnessing and amplifying the earths magnetosphere to make wireless electricity= energy everywhere on the planet.Oil at that point would only be used for plastics and lubrication of moving mechanical parts with zero pollution.

Asher Phillips
Asher Phillips

He says, while guzzling BPA and Fluoride.

Landon Davis
Landon Davis

Hurr durr kill yourself.

Gavin Phillips
Gavin Phillips

The fuck is wrong with you?

Grayson Miller
Grayson Miller

You're distracting.

As expected.

Justin Barnes
Justin Barnes

Oh and a snitching reward.

Kayden Long
Kayden Long

Oh shit lol. I didn't realize. I thought you were just telling me to google finance. My bad.

Charles Foster
Charles Foster

oh look its the episode where the only guy who actually knows something is the guy who have no idea what he's talking about

Juan Barnes
Juan Barnes

You're drinking government mandated polluted water because every water supply in America is fucked up since 1800s and you're bitching about the off chance that a tracking accident will pollute water? GTFO

Matthew Nguyen
Matthew Nguyen

These companies intentionally keep their profits at marginal levels for tax purposes.

William Roberts
William Roberts

"lel, water is polluted anyways, so why not pollute it even more"

Okay.

Easton Hall
Easton Hall

What diffrence does fracking mean to liberals?

The places where they frack is where they wouldn't be caught living.

Liberals would sooner shoot themselves before they live in ND. They prefer hip places to live such as the Bay Area.

In fact they're resorting to force property owners pay a 10,000 dollar tax on empty houses in in Canada in some expensive areas.

William Bennett
William Bennett

Industry profit margins are cyclical too. But on average, between 2006 and 2010, the largest oil companies averaged a profit margin of around 6.5%. This pales in comparison to profit margins in just about every other industry. The pharmaceutical industry, for example, routinely averages a profit margin of about 16%. The soft drink market is even more lucrative.

That is a quite from this article: forbes.com/2011/05/10/oil-company-earnings.html

Gabriel Gonzalez
Gabriel Gonzalez

Nope. Their profit margins are low because they use ridiculously expensive machinery and specialized labor to dig a substance out of the ground that makes all our lives possible, and if they try to sell it the government punishes them with a 50% fine.

Kayden Myers
Kayden Myers

Regardless I don't really give a fuck. You can follow all the safety protocols or forfeit your shit.

Tyler Wood
Tyler Wood

You're drinking government mandated polluted water because every water supply in America is fucked up since 1800s and you're bitching about the off chance that a tracking accident will pollute water? GTFO
This is how we quote, leftypol.

Bentley Wood
Bentley Wood

"They're" forcing (trying to) Chinese foreigners to pay for the houses they buy and own in Canada without occupying. They shouldn't be allowing chinks to own houses in the first place, but the housing market is seriously fucked up in cold land.

Cooper Watson
Cooper Watson

AAAAH WHAT HAS THIS TO DO WITH RADAR??

Ethan Butler
Ethan Butler

Who writes the safety protocols? If they follow safety protocols and STILL have an accident, who pays?

You're acting like safety protocols are given to government by a burning bush, inscribed on clay tablets.

Connor Garcia
Connor Garcia

Why waste all of this oil right now?

Why not just throw all the degenerates into the pits and then in 25 years, power our nation completely on the partially fossilized souls of liberals?

Lincoln Allen
Lincoln Allen

Just btw: no one, who is not completely retarded drinks tap water on a regular basis.

But this doesn't mean that companies should be given a free ticket to pollute it.

Owen Thompson
Owen Thompson

Trump wins
libtards go insane
America is being made great before the God Emperor steps into office
YUGE supply of oil suddenly found

Andrew Gomez
Andrew Gomez

No I'm acting like the oil industry has routinely cut corners resulting in people having flammable faucet water in some areas.

Carter Bailey
Carter Bailey

Just BTW the low chance of a cracking accident polluting water is not an excuse for claiming tracking pollutes water NO MATTER WHAT, or accusing me of condoning pollution. Read my post with more care.

Bentley Williams
Bentley Williams

Lets face it at this point fracking is fucked when you look at all the earthquakes in Oklahoma and the water pollution it's just fucking stupid degenerate profiteering.I am all for a white man having a job to feed his family yet like user said there needs to be really strict regulations on it because its obviously fucking shit up.

Blake Cooper
Blake Cooper

(Praise Kek)
May LA fall into the sea.

Luis Nguyen
Luis Nguyen

Low chance?

In which parallel universe are you living, user?

en.wikipedia.org/wiki/List_of_natural_gas_and_oil_production_accidents_in_the_United_States

Luke Morgan
Luke Morgan

Maybe before quoting a "documentary" by anti oil organization you should look into why some tap water has methane in it.

Protip: methane is a gas, it bubbles up through the ground naturally, and even gets into some aquifers. It has nothing to do with fracking.

Alexander Morris
Alexander Morris

so just use the hydrocarbons to desalinate seawater, duh

Jason Nelson
Jason Nelson

I know it's you Jeremy.

Brandon Brown
Brandon Brown

George?

Justin Cooper
Justin Cooper

discovered just at Trump is becoming President
TFW we immediately build oil wells and refineries and start cucking the Saudis
greenfags can't do shit about it because Republicans control the entire Federal govt.

Christian Rodriguez
Christian Rodriguez

the pipeline is evil and useless, goyim, do not look at the agencies behind the curtain
green energy will decrease your bill AND save the environment even though if we invested proportional money into nuclear plants we wouldn't need any traditional power plants at all
uninformed asshats buy this and have the audacity to say you're lying

Luis Harris
Luis Harris

Now we just need molten salt thorium reactors.

Kayden Perez
Kayden Perez

American oil and tobacco companies are some of the few left that are still controlled by white families. Guess why the kikes attack them constantly.

David King
David King

Gas leak, truck accident and train accident this year. None related to oil companies breaking regulations.

….. Yeah look into how many accidents ANY OTHER INDUSTRY has in a year.

Nathan Robinson
Nathan Robinson

I had a guy tell me that petroleum is "naturally occurring" meaning it isn't a fossil fuel as people suggest, and that it regenerates quite quickly. Anyone know about this?

Eli Long
Eli Long

Well, I could google over 9000 fracking-related accidents.

The problem is: the industry doesn't give a shit.
They don't care if you die from cancer as long as they got their profit.

How can this be good for the American people?

Zachary Green
Zachary Green

seerrreeennDIPaTUS timing let me Guess WE FOUND OIL , WE DONT need JAWA oil BRING TROOPS HOME Distablzzed Middle EAST MORE, EVERY ONES ASSCRACKASTAN 2.0™ months go bye CamelFUCKERS start NUKEING Each Other MURICA;RUSSIAN join forces CLEAR OUT DuneCoons CRUSADER Style Setting in motion.(((you know who's:^) ))) 💰 plans for GREATer CHOSENVILL
2017
YEAR OF THE FIRE BENIS
🔥🔥🔥🐔🔥🔥🔥

Cameron Bailey
Cameron Bailey

excellent informative posts user
Shadialy

Jackson Perez
Jackson Perez

Why do you care, you lefties hate Texas anyway.

The dangers of fracking is also way overblown. Saudi lobyists and (((green industry))) fags are behind a lot of the anti-oil propaganda. They don't want an independent America.

Owen Watson
Owen Watson

Is this the new "penguine of doom"?

Nathaniel Johnson
Nathaniel Johnson

wtf, who let some tumblr-tier retard in there? can the mods plz b& the excessive morons?

Jason Scott
Jason Scott

I want an independent America.
But not at this price.

If they would be able to get this stuff out in a regular, non-chemical way, I would have 0 problems with it.

Dominic Collins
Dominic Collins

suddenly found
not buying that, I'm sure the geologists were well aware of it but it was kept under wraps.

TFW we immediately build oil wells and refineries and start cucking the Saudis
tbh Trump could reopen the 9/11 investigation, blame the saudis, back yemen and curbstop the shit out of saudi arabia and take all the oil. and nobody would do a damn thing about it.

Jack Taylor
Jack Taylor

Yeah, but economy of scale more than makes up for it, even if profit margins are lower as a percentage they extract millions or billions of cubic yards of hydrocarbons, not many coffee shops sell millions of cubic yards of coffee, and not many pharma companies sell millions of cubic yards of drugs. the massive inflexible demand for oil plus economy of scale means that oil drillers still make many millions or billions of dollars, not to mention the trillions of dollars in fossil fuel subsidies handed out every year globally.

Anthony Price
Anthony Price

I've heard similar things, but only from /x/ tier sources. they say if you shave off the bottom of a depleted oil well it will replenish slowly. Obvious that would take a ridiculous amount of machinery. When the Russians did their super fucking deep hole they found hydrogen gas bubbling out of the bottom (they say)

Jordan Rodriguez
Jordan Rodriguez

🔥🔥🔥🐔🔥🔥🔥
TRIGGERED
YOUR GOING BACK 🌮

James Kelly
James Kelly

Let Texas take all the risks.

You can stay in your cozy, all-white, New England suburb and sip Starbucks while riding your dragon dildo.

Daniel Lopez
Daniel Lopez

Shouldn't we ask the Texans first?

I don't think they necessarily see it the same way.

James Hughes
James Hughes

I'm a Texan. We are pro-oil and red as fuck. We also hate Muslims. I guarantee we will support the extraction of this new oil.

Hudson Richardson
Hudson Richardson

Trump could reopen the 9/11 investigation, blame the saudis, back yemen and curbstop the shit out of saudi arabia and take all the oil. and nobody would do a damn thing about it.

This is now the best case scenario.

Angel Allen
Angel Allen

Shit.

Juan Ortiz
Juan Ortiz

That would be great actually,yet what tesla was doing is the way.He was discredited about AC current he proved them wrong.I think his idea of free electrical energy would also be proven viable however (((they))) don't want stupid goy making tech that far surpasses the current systems they have their hook noses in just because its better and more proficient with less pollution.

Ethan Perry
Ethan Perry

How long can the US last with all this oil without having to import any?

Bentley Davis
Bentley Davis

Theoretically long enough to reach the oil terminal point if energy reforms are put into place
in other words, "forever"

Aaron Morris
Aaron Morris

I love how a generation of kids got scared into thinking oil would be scarce.

And that was 5 years ago?

It's been sitting at 2 bucks a gallon for over a year.

Joseph Ward
Joseph Ward

Ughhhhh. My dissertation research was in biofuels/alt energy. Why couldn't they find this shit like 10 years later or so? Oy vey…

Ian Jones
Ian Jones

The meme that oil companies receive government subsidies is Leftist propaganda that essentially amounts to a glib argument for raising taxes on oil companies.

What they are calling "subsidies" are industry-specific tax treatments designed to calculate incurred costs to arrive at taxable income. The US tax system doesn't tax anything that isn't net income–otherwise people would be paying taxes while losing money.

Every business is taxed in this way, except that the oil industry is already singled out to get half the dd&a deduction that every other industry gets.

A subsidy is a direct payment or loan guarantee simply for existing, and the oil industry taxes are the second largest source of income for the federal government next to the personal income tax, so it's not like oil companies aren't paying a shitload in taxes.

The amount of stupid misinformation that gets propagated about the oil industry is utterly mind blowing, but lefties absolutely hate oil companies so it's not surprising.

Blake Harris
Blake Harris

researching something useless
if you want muh green cred and Nuclear isn't on the radar, go for anything that makes electric/biocell cars more efficient or emit less.
The only remaining function for liquid fuel of any kind within a few decades will be propellant for vehicles and rockets, assuming we don't rework the entire system of transport in the mean time.

Lucas Walker
Lucas Walker

Yeah man ! The fucking capitalists don't care! Eat the rich!!!!1!

Go fuck yourself lefty.

Well Saturn's moon titan is full of oil, it has literally oceans of the stuff. And we've found hydrocarbons in meteorites.

Needless to say it doesn't come from dinosaurs, that's a peak oil myth.

Plenty of coffee companies sell that much, coffee is the second most valuable commodity, and by far the most profitable.

Also nice attempt at trying to get me to hate on pharmaceutical companies, lefty asshat. Try that Jedi trick on your low IQ Starbucks customers, not me.

Mason Sanchez
Mason Sanchez

Nuclear is on the radar fam. Can't have nuclear powered jets now, can we?

Gabriel Reyes
Gabriel Reyes

Anyone with half a fucking brain knew the peak oilers were full of fucking shit. All Malthusian-style scenarios end up being disproved because economics doesn't fucking work that way.

I can't even begin describe how much contempt I have for that crowd, because no matter how many times they're proved wrong, they take the same retarded economic concept and move on to some other field… Agriculture, oil, coal, climate, it never fucking ends.

Nathan Morales
Nathan Morales

Why should that be surprising?
Coffee shops take virtually worthless raw materials and sell them to fashionistas for 100x mark-up.

Tyler Gomez
Tyler Gomez

Source? I was under the impression that the oil subsidies were direct handouts, but if that is not the case I am curious to figure out more, any links to oil "subsidy" analysis?

Angel Thomas
Angel Thomas

Funny how you can only think in stereotypes.
But it's probably not so funny anymore, when you're dying from cancer, I guess.

Aaron Bell
Aaron Bell

mfw $1.60/50 a gallon down here in Texas just a couple months ago

Brayden Nguyen
Brayden Nguyen

Here's a starting place. Should have enough info to lead you to more.
api.org/~/media/files/policy/taxes/why-oil-gas-tax-treatments-not-subsidies-feb-2015.pdf

William Kelly
William Kelly

Spoiler: oil companies routinely under-report the size of reserves, massively under-report.
Has to do with paying tax up front based on the size of the reserve.

Caleb Barnes
Caleb Barnes

just seems like a low-key guy who is actually interested in helping people and doesn't have the patience or willingness to put up with the media abuse. it's likely that he admires Trump for precisely this reason, and he can still be a valuable ally in the public sector

Austin Young
Austin Young

It's great for me in on aspect, but not great in another. I work for a big global oil company in an indirect way and they have been really stingy about money in the last year. Reorganizing and laying people off. Didn't affect what I do but, still. They got kind of stingy and changed a ton of processes.

They had enough money to get us all win10 laptops though.

Shrug.

Dylan Robinson
Dylan Robinson

Also nice attempt at trying to get me to hate on pharmaceutical companies, lefty asshat. Try that Jedi trick on your low IQ Starbucks customers, not me.

Defending the Big Pharma Jew
Defending regulatory capture/patenting that keeps medicine prices 20 times what they should be in a competitive market.
Defending (((APA))) and (((psychiatry))) which exists as a scam to market for big pharma and wreck the health and mental stability of white children and women at the same time.
Current year.

Gas yourself please, also material to educate on the pharmaceutical Jew and its machinations:
thesocialnationalist.com/profit-from-pain/

Kevin Collins
Kevin Collins

I'm an actual petroleum engineer who just got done doing reserves for a large oil company, and you are completely full of shit. We don't "underreport reserves," as there is absolutely no reason to do so. Reserves are the value of an oil company, and having smaller reserves does not in and of itself lower your overall tax burden.

Similarly, you aren't incentivized to over-report reserves either, especially under the new 5-year SOX regulations, because reality comes calling when you can't produce your booked reserves and write-downs have more of an impact besides simply lowering your company's asset portfolio value.

You people who think you know how the oil industry works who spew misinformation need to shut the fuck up forever.

Gabriel Parker
Gabriel Parker

Any big-c I'm getting is from your shitty cancerous posts, leftypol.

#micdrop

Can't tell if you're a scientologist or a disgruntled SJW concern troll off xis meds.

Please clarify.

Ethan Cox
Ethan Cox

I'm an actual petroleum engineer who just got done doing reserves for a large oil company
Yawn.
Am I supposed to be impressed?
I used to work for a British oil company and I got the information from someone a little higher up the chain than an engineer.
Cunt.
We don't "underreport reserves," as there is absolutely no reason to do so.
Are you in the UK?
No, didn't think so, cunt.
BRITISH oil companies under-declare the size of reserves, hence why our reserves should have been dry now, according to the press.
BRITISH oil companies have to pay the government based upon the size of the reserve at the time of discovery.
Now, kill yourself.

Dominic King
Dominic King

tfw gas gets more expensive

Landon Hughes
Landon Hughes

Spoiler: oil companies routinely under-report the size of reserves, massively under-report.
You're wrong because I'm British!

Bentley White
Bentley White

/x/ tier sources
offshore-mag.com/articles/print/volume-55/issue-4/news/general-interest/middle-east-geology-why-the-middle-east-fields-may-produce-oil-forever.html
alfinnextlevel.wordpress.com/2015/11/06/earths-oil-gas-fields-to-produce-until-the-sun-blows-up/
en.wikipedia.org/wiki/Abiogenic_petroleum_origin
Not only /x/ tier sources support abiogenic petroleum hypothesis, subduction zones catalyze hydrogen and carbon to produce abiogenic oil and hydrocarbons which are deposited in natural petroleum. The evidence for this are deep sea hydothermal vents which release hydrocarbons, and oil deposits which are massively underestimated on the first drilling and do not deplete as fast as petroleum engineers predict with initial observation (to be fair this could just be Saudi's bullshitting to hide the fact they are running low). Abiogenic petroleum is definitely plausible, the extent that it offsets scarcity is ambiguous though.

Jackson Flores
Jackson Flores

Ok.
So it only applied to UK sector.
Still didn't justify the mad triggered rant about "people".

Connor Hernandez
Connor Hernandez

You might be confusing the different categories of reserves, based on levels of certainty.

Oil companies CEOs like to be conservative in claiming how certain they are of a reserve when talking to the board, because it gives them a bit more ass covering margin in case of an error being made.

Not sure how this translates to publicized certainties.

Dylan Miller
Dylan Miller

The topic is TEXAS you fucking brittfag jult. You want deported?

Blake Phillips
Blake Phillips

Not in-house shimmying, this was definitely related to government fees of some kind.
Honestly though, this was 20 years ago, maybe something has changed in the interim. At the same time hiring practices in the UK sector had unwritten rules about not hiring minorities, same manager as told us about the under declaration also revealed the gentleman's agreement between departments, simple : no niggers, no chinks, no mudshits.
The reasoning at the time was that homogeneity makes for a stronger, more efficient team.

Jace Evans
Jace Evans

Implying that wasn't the plan all along
Why do you think that Al-Waleed bin Talal has been kissing Trump's ass non-stop since he won?

Saudi civil war soon.

Leo Ward
Leo Ward

Considering that you can't even properly differentiate reserves from resources, you aren't exactly a reliable source of information and you're gonna have to cite your shit.

But let's assume you are correct that UK companies deliberately underestimate resource/reserve volumes up-front to avoid a one-time tax, presumably at the time of asset acquisition. After this, there would be absolutely no incentive to continue under-reporting reserves, since this would only cripple the value of your company and subsequently inhibit its ability to obtain capital for future asset development.

Further, literally nobody else in the world books reserves in this way, so asserting that "peak oilers were wrong because there's a massive conspiracy to hide how much oil is in the ground" is fucking retarded. The reason peak oilers (and their intellectual ilk) are always wrong is because they fundamentally misunderstand economics and what actually gives value to resources.

This level of retardation is why I rarely come to 8ch anymore. The only people left here have turned this into a hybrid of /r9k/ and /x/.

Joseph Lewis
Joseph Lewis

We know methane can be made abiotically, because Titan is covered in oceans of the stuff.

The methane is made in the crust, out of hydrogen and carbon trapped in siliceous material of the upper mantle.

The methane bubbles up through the crust to reach the ocean bottom, where it becomes methane clathrate (trapped in ice).
[Spoiler]The methane that doesn't reach the ocean bottom to become clathrate, ends up in some hippies illegal water supply, and he complains about it in an anti-oil "documentary". [/spoiler]

The methane clathrates are brought back into the crust in subduction zones, as you said, and the solid clathrate is squeezed/heated in a way that can't be done to gaseous methane.

This temperature/pressure combination makes long chain and aromatic ring hydrocarbons (oil) out of methane!

Nicholas Jones
Nicholas Jones

mfw

Ayden Morgan
Ayden Morgan

that image

Are you going to report him or send him to pedo island? Is he going to be the loli in this episode of Epstein's Red Shoe diaries?

Daniel Edwards
Daniel Edwards

When companies are talking reserves, they're talking proved reserves (pd, pdnp, and pud).

Mason Collins
Mason Collins

you're gonna have to cite your shit.

Yeah, I'll just go and find you a reference for secret in-house practices.
Hang tight right there I'll brb…

Cooper Brooks
Cooper Brooks

"peak oilers were wrong because there's a massive conspiracy to hide how much oil is in the ground" is fucking retarded.
Btw I made no such claim.
You're so angry that you're imagining things or extrapolating meanings that were not stated.

Hudson Lewis
Hudson Lewis

Given your jist, you know the plan…

Luis Baker
Luis Baker

What a stupid post. Shut up.

Nicholas Torres
Nicholas Torres

uhh huh huh your kinda smart and stuff come around more mkay thanks.

Jason Carter
Jason Carter

Yeah I'm not from UK so I can't comment on anything like that. Also East Europe has no colored minorities except gypsies, and they don't even want to be respectable and have a job. We didn't even have CEOs until recently, only štab directors.

It might be so.

Josiah Barnes
Josiah Barnes

There is no other reason to respond to a denigration of peak oilers with an assertion that oil companies have a super-secret /x/-tier practice of massively underreporting their reserves.

Carson Turner
Carson Turner

How geologists find oil that was only now memed into existence during one of many digits threads?

We alchemy now.

Isaac Wright
Isaac Wright

There is no other reason
"I can't think of any other reason"
Fixed that for you, Mr. mind reader.

UK (off-shore) sector had many illegal and secret practices that it's impossible to find any documented evidence of.
Industry-wide blacklists.
Whites-only policy.
Dumping contaminated water at night so that the slick has drifted away by morning.

If you think that multinationals don't have secrets then you're not the brightest bulb yourself.

Ian Torres
Ian Torres

Hey user I'm a senior Cnc machinist in oil field, medical, aerospace, defense and learning Mastercam. Mind swapping info for networking?

Nicholas Sanchez
Nicholas Sanchez

I hope that shit-bagger snorts a line of LSA scale; but I'm still going to say he'd be fucking retarded to swap info with anyone from this place.

Chase Gomez
Chase Gomez

CNC
You'd be better off in the sign industry. A signage installer/manufacturer has a 100k a year salary.

Or maybe automotive. CNC guys get promoted really fast.

Nathaniel Edwards
Nathaniel Edwards

Peter Zeihan must have the hugest erection in the world right now.

Hunter Robinson
Hunter Robinson

Good. Maybe this will get some of those fucks out of the Eagleford. I'm all for oil energy, but wells in the Eagleford were fucking thick as theives. Hot hotshot truckers would blast down caliche country road at 80mph and shit. They contaminated the water table. The whole countryside was filled with the din of machinery.

A mixed blessing, to say the least.

Josiah Perez
Josiah Perez

Holy shit I need to proofread. Hopefully yall can figure out what I meant.

Logan James
Logan James

cherry picking your replies
Get fucked.

Jaxson Hughes
Jaxson Hughes

i am irrelevant but hear me out anyway

Daniel Garcia
Daniel Garcia

I am paying attention to this thread but to be honest *WE** whites are smarter than fucking fossil fuel and have been for quite some time.Matter of fact if it wasn't for those (((parasites))) can only imagine how much further we would have taken this.

Landon Cox
Landon Cox

Neo-80s Economic Boom
Just remembered who was president then
FUCKING MEME MAGIC BOYS

Alexander Jones
Alexander Jones

just like (((einstein))) was a total fucking fraud by using white mens genius then claim he came up with theories lol fucking (((rat)) couldn't even tie his own shoes.So sick of (((them))) taking credit from great men.

Lincoln White
Lincoln White

Most of the gains we could make right now would be from efficiency. We're using fractions of what was normal back in the day for energy expenditures. As we need less energy, then more marginal sources like solar become more viable. Not too hard to be innawoods with a solar panel with a good power saving laptop and cellphone while still having a pretty comfy tech level. Realistically we can get by more efficiently with lower tech levels in certain parts of our lives, but higher tech levels in others. Plastic packaging is becoming almost irrelevant now with direct mail order, for example. Renewable paper and cardboard packing do a perfectly sufficient job for mailing from a warehouse to your door, you don't need to seal shit in invulnerable blister packs to keep the niggers from opening it.

Michael Young
Michael Young

When I was 3 years old in 1973 when the "oil crisis" hit. I remember getting up before dawn so we could go wait in line to buy gas.

Turns out it was all a big scam. OPEC intentionally restricted supply to increase prices - and the USA let it happen with world oil trading exclusively in dollars only to prop up our money supply. The US stopped producing - they poured concrete down oil wells in Texas to stop them up. Fake "environmentalists" crusaders made new exploration and refinement impossible.

Looks like that grand bargain may be coming to an end. Reality is that oil is as cheap as dirty.

If we are shifting now to a cheap oil glut to restart America it could mean a drop in dollar demand abroad. Only place to put dollars will be to bring them back home - and that would make the economy roar.

Aiden Bailey
Aiden Bailey

Did I dead?
Things are so perfect I feel like this is not reality. I mean maybe the Lord Kek is showing us the malleable nature of reality.
I'm so happy.
Trump is going to take us to the stars and mudslimes can eat their oil as Qatar slowly sinks into the sands.

Asher Butler
Asher Butler

current situation dictates conservation in the event of a shtf happening sure,I am getting at how much the White Man has been held back by fucking yids.They have to go away for science to progress in all areas not just energy.All they do is take our talent and use it against us when will ALL WHITE MEN realize it and send those fuckers away like the Fuhurer tried and failed.Gotten to the point they are interbreeding with whites which basically produces a cucked liberal ughhh!!!!!

Matthew Thompson
Matthew Thompson

Keep in mind it specifically states shale oil, the machines for which and the process to extract costs far more than just pumping saudi oil.
Shale only became a thing because foreign oil became so expensive ($100+ a barrel) that shale extraction actually had a similar or slightly lower price, even though saudi oil was just pumped from the ground and cost next to nothing.

Of course technology always gets better and cheaper with time, but it likely wont be a buck or less per gallon any time soon.

Ryder Torres
Ryder Torres

it specifically states shale oil
So you think the news is accurate and nobody had explored the oil reserves in West Texas until 2016 when suddenly this "shale" was magically found?
It's a cover story - there is a huge amount of crude oil intentionally being obscured.

Kevin Watson
Kevin Watson

There is, but it isn't a nefarious plot. Once a reserve is fully assessed, it becomes the property of the company with MER over the field. This represents a sudden increase in company assets, which is taxable in the present year. By "discovering" deposits a little at a time, prospectors can incur a tax bill consistent with sales, rather than finding $400 billion in oil and instantly owing $60 billion in taxes for product that will take 20 years to fully develop.

Nicholas Murphy
Nicholas Murphy

You're living in the past, m8, fracking is a hell of a lot cheaper then it was in 2012 - price competitive with most of the "conventional" oil extraction in the world right now.

Leo Ramirez
Leo Ramirez

FUCK you Texas

Juan Lopez
Juan Lopez

?

Angel Cruz
Angel Cruz

Carson never even seriously wanted to be president, he just wanted to sell his books.

Isaiah Hall
Isaiah Hall

Dang really?
That didn't take long.
Well, relatively speaking.

Kevin Harris
Kevin Harris

Holy fuck lads do you think this is a coincidence? Right before the God Emperor gets into pour a yuuuge fuel source is discovered after he literally says there is a 1000 year supply of energy in America a thousand year energy Reich

Is Trump a grand master wizard who memed this shit into reality?

Carson Roberts
Carson Roberts

Are you going to tell Michigan to stop building cars because they pollute also?

That entire region of Texas is basically oil towns. This is their livelihood.

The 80's were a bit of an oil bust for Texas. Conventional reserves had begun to dry up so extraction became difficult. My family had long known there was oil beneath our land but nearly every drilling attempt back then resulted in a dry well. 20 years later drilling technology had improved and now there are wells everywhere.

t. texan

Blake White
Blake White

There seems to be massive confusion on the issue of fracking. I did a speech on it recently. Here are a few relevant points:

Environmental concerns.
According to the EPA, “there are above and below ground mechanisms by which hydraulic fracturing activities have the potential to impact drinking water resources… We did not find evidence that these mechanisms have led to widespread, systemic impacts on drinking water resources in the United States” (Assessment of the Potential Impacts of Hydraulic Fracturing for Oil and Gas on Drinking Water Resources, pg. 6).
“As noted above, hydraulic fracturing water use and consumption are generally less than 1% of total annual water use and consumption at [national and state scales]” (Assessment of the Potential Impacts of Hydraulic Fracturing for Oil and Gas on Drinking Water Resources, pg. 9).
“Of the 151 spills characterized by the EPA, fluids reached surface water in 13 (9% of 151) cases and soil in 97 (64%) cases. None of the spills of hydraulic fracturing fluid were reported to have reached ground water ” (Assessment of the Potential Impacts of Hydraulic Fracturing for Oil and Gas on Drinking Water Resources, pg. 13).
“While it is theoretically possible for fissures created by hydraulic fracturing to connect well bores with shallow aquifers, in practice this is unlikely: Targeted shale formations are generally 1 to 3 kilometers below the surface and the fissures created during operations rarely extend more than 600 meters” (The environmental costs and benefits of fracking: The state of research).

Seismicity.
Most induced earthquakes are caused by wastewater disposal wells, not hydraulic fracturing (Myths and Misconceptions, U.S. Geological Survey, par. 1).
The occurrence of earthquakes at wastewater injection wells depends on factors such as the presence of large faults, water pressure, or whether there are pathways for the liquid to travel through. (Myths and Misconceptions, U.S. Geological Survey, par. 1).
Saltwater is produced as a byproduct during the extraction process. Wastewater is found at nearly every oil and gas extraction well. Hydraulic fracking is actually more efficient at utilizing and disposing this wastewater, since it is re-injected back into the fissure rather than just dumped after one cycle. (Myths and Misconceptions, U.S. Geological Survey, par. 2).
Regarding Oklahoma pollution: “In Oklahoma, less than 10% of the water injected into wastewater disposal wells is used hydraulic fracturing fluid. Most of the wastewater in Oklahoma is saltwater that comes up along with oil during the extraction process.” (Myths and Misconceptions, U.S. Geological Survey, par. 2).

Fracking is no more dangerous than any other heavy industry.

Jackson Bailey
Jackson Bailey

Ben Carsson
It actually made me laugh, top kek.

Wyatt Jackson
Wyatt Jackson

just like (((einstein))) was a total fucking fraud by using white mens genius
Actually his white wife did the math for him.

Hudson Myers
Hudson Myers

There's oil in Texas

this is news?

Isn't texas KNOWN for having large oil reserves? All the generic oil barons in my head are either arabs or texans.

Camden Rivera
Camden Rivera

no one responded to this

Liam Long
Liam Long

I read it, enjoyed it, and had nothing to say about it.

Henry Williams
Henry Williams

I wish I was a petroleum engineer

Henry Garcia
Henry Garcia

U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E
U N B A N N A B L E
MODS = FAGS
MODS = KIKES
HEIL IS A JEW
HEIL IS A JEW
U N B A N N A B L E

Jayden Jenkins
Jayden Jenkins

It's okay user. I just wanted to put that out there for anyone who gives a shit.

Here's some more details about the effects of fracking, and why it could lay the framework for an American Imperium:

The U.S. is set to achieve energy independence, freeing the U.S. from Persian Gulf exports.
Since 2009, “US net imports of oil dropped 44 percent” as domestic production has increased.
The International Energy Agency states that “in one or two years, the US will be the number one oil producer in the world, overtaking Saudi Arabia… the US and Canada will be energy self-sufficient by 2020, and the US alone by 2035” (Abeshouse, par. 4).
Since World War Two we’ve relied on energy (through the Petrodollar) to support free trade, our trade relationships to bribe countries into alliance structures, and our alliances to guarantee our geopolitical security. Now we can have our security without any of those steps thanks to shale.

We’re seeing a retrenchment of U.S. foreign policy away from direct intervention, towards a balance of power strategy.
In the Middle East, a balance of power is forming between Turkey, Iran, and the Gulf Arabs.
Japan, still the world's third largest economy, is remilitarizing to offset China's growing influence.
A European army is being formed, with the Dutch army being recently annexed by Germany.

These nations rely on an international system the Americans set up in the Cold War, but no longer benefit from. Therefore they are being forced foot the bill if they want to maintain stability in their respective regions. I expect these attempts to fail. Trump's America will be an island of stability and prosperity if Leftists don't fuck it up.

Parker Nelson
Parker Nelson

How do they explain the well water that suddenly became flammable after fracking started? Just coincidence?

Ethan Rodriguez
Ethan Rodriguez

It's a fraud. Methane was already in the local water supply before fracking took place. Oil in the ground and underground methane have a common origin: decaying organic matter.

archive.is/ZsAmq

Dominic White
Dominic White

Texas should declare independence.

Jeremiah Wood
Jeremiah Wood

OPEC is going to fuck us on energy independence yet again.
Well USA can just pull out the troops then. and Let's see how long SA lasts.

Lincoln Walker
Lincoln Walker

According to kikepedia you are correct.

archive.is/4w34p

Cameron Wright
Cameron Wright

Wow. It's like the heavens are blessing Trump everything.

Brody Flores
Brody Flores

I doubt we will under Trump.

Texans care about making money more than almost anything else, and the US under Trump will most likely be relatively prosperous.

don't think that we aren't preparing regardless, though. who knows who will come after Trump.

Logan Foster
Logan Foster

ditto for the bay area. kikes and chinks as far as the eye can see, cheapest houses are $800k and those are in Niggerville

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