Utica shale deposits larger than previously thought. The new estimate is 782 trillion cubic feet of natural gas and 1.9 billion barrels of oil—twice as much oil and twenty times more natural gas than the 2012 USGS estimate. Looks like “peak oil theory” just took another hit.
This post was last modified on September 27, 2021
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In Order to protect the farting, slithering, democrat fugly fish, Obama will say NOOOOOOOOO Drilling here. I must save the planet from Global warming,..ah Cooling...er..um Climate change...because Bill Nye Said so....
Don't forget the ozone hole. Whatever happened to the crisis over that?
I thought the ozone hole was our President??
Lucky for us we have an expert on the ozone in the White House. He's spent most of his life there.
No, you're getting the Ozone hole confused with the Obozone hole.
The Ozone hole is in the atmosphere, the Obozone hole is in the mom jeans, and gets plugged by Reggie.
"Peak Oil" falls into the manufactured crisis for political ends category like "Climate Change" and "New Ice Age".
If the progressives cannot bury this inconvenient truth they'll paper it over with some obscure gnat, flying fish, or inland sea tortoise, that they'll claim is endangered... and daring to access this fuel source will kill it, or poison the drinking water of children... CHILDREN!!!!
Oil is abiotic in origin, the Soviet-Union found that out already in 1951.
Careful, people will label you a crackpot. You're correct IMO, but still... One would think the finding of hydrocarbon-containing meteorites would convince people that decaying plant matter isn't necessary but...
I've also heard stories that the Russians have found that their REALLY deep oil wells are filling back up, after being tapped out...leading to the theory that oil is created by heat and pressure.
http://oilprice.com/Energy/Energy-General/Are-Oil-Wells-Recharging-Themselves.html
God knew there would be internal combustion engines and lots of them. He created their source of fuel and lubrication before man even walked the earth.
I'm sure King Barky will sign an executive order preventing the extraction of this oil and gas, because of Globull Warming and eleventy, SHUT UP!!
Well, you see that the formation overlaps parts of New York, just like the Marcellus shale formation, and the state of New York has forbidden fracking...
On a more positive note, Pennsylvania is balls to the wall on fracking because they see how much money it's bringing in and what it's doing for the economy. I'm not sure where Ohio stands on fracking. We'll see. It looks like most of the Utica formation's oil is inside Ohio, most of the natural gas in Pennsylvania.
Pa. WAS balls to the wall when Corbett was governor, but I dunno if that's still the case since we got saddled with that commie Wolf. I know for sure that he wants to tax the shit out of it, which will drive it into Ohio, and we'll get LESS taxes from it. "Liberalism always generates the exact opposite of it's stated intent." - Jim Quinn
I'm pretty sure Ohio is all in for fracking. They were bidding on a cracker plant (where the gas would be separated into all the wondrous things that oil and gas gives us), but lost out to Pa., and the plant is supposed to be just north of Pittsburgh.
http://powersource.post-gazette.com/powersource/companies/2014/11/07/Shell-to-buy-Horsehead-plant-in-Beaver-County/stories/201411070073
But it looks like Ohio is still in the game:
http://pittsburgh.cbslocal.com/2015/04/22/officials-say-proposed-cracker-plant-in-ohio-should-have-no-impact-on-beaver-co/
BTW, off topic...this state FINALLY got a bill through the state legislature that would abolish the State Store system...where you can only buy a bottle of wine or hard liquor in a state-run store. And Tom Wolf promptly vetoed it. His reasoning? It would drive prices UP. When have you EVER seen competition increase prices? The TRUTH is, the union that represents the State Store employees backed him in the election, and that was just his way of saying thanks.
"They were bidding on a cracker plant"
Say WHAT, Crackah?
Somebody oughta paint a big ol' Stars and Bars on the side of the building...
It's pretty complicated being a fracking-friendly state. There's also the matter of how state law handles property rights. If a drilling company is going at an angle a mile or two down, they're going to be sucking gas and oil from a lot of different mineral rights owners. When the company tries to acquire those rights, it's important that state law not make it impossible. If state law allows one recalcitrant stubborn mule in a cluster of parcels with a hundred different owners stop the drilling for everybody, then that's a difficult environment for the company. They'll probably move to a different state. Like patent law and copyright law, mineral rights in this country are out of date because our legislatures are full of boobs and idiots.
Around here it gets worse. We have what is called property rights, which is the surface area, and mineral rights, which is everything under that area. If you own both property and mineral rights you can negotiate on things like directional drilling that will cross into your property. If all you own is property rights a company can suck out everything underneath and you can't do a thing about it.
Things do get interesting around here when people move in and buy property without knowing all the different laws. Things really get wild when the outsider finds out that they bought the property but did not buy the water rights, which is a whole different set of property laws, and they can't drill a well to water their little patch of permanent pasture or a bean sprout farm.
Oh, that's gotta suck!
It does. Property rights lawyers is a big business in this state.
No problem with the NY area. PA can just angle drill across the border. It's all gas in NY anyway, and there isn't all that much of it there either. Most of the sweet spot is in PA.