On December 6, 2018, the US Geological SurveySummary announced an assessment of continuous oil and gas in Texas and New Mexico’s Delaware Basin. It is the largest USGS has ever conducted, with an estimate of 46.3 billion barrels of oil and 281 trillion cubic feet of natural gas
The Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain a lot of energy that is just waiting to be extracted. It means that American energy dominance is within our grasp. Infrastructure needs to be built, refineries need to be built, and government needs to get out of the way and allow industry to do what they do, safely and with an eye toward protecting the environment.
This could be bad news for the Middle East because US/Canada could be the new OPEC. It is clearly horrible news for Russia because they had entertained hope that one day THEY would be able to set the price of crude oil – and change the mandatory exchange currency from dollars to rubles. If wishes were horses, beggars would ride.
The new oil field will produce many tens of thousands of dollars of jobs in the US and will lead to trillions in profit (and taxes for the US Treasury). I’ve often said that oil is the American escape clause for the massive and increasing national debt. I still believe that could be possible but it’s impossible to implement with a government intent on growing larger and spending more.
The location of that much energy under the ground in America’s heartland means that it is local, easy to access and easy to defend.
Now the tree-hungers will start their protest and the government will case it to slow down because of humane interest of freedom of speech,and it will be years before any benefit can be had. Who cares about jobs and financial growth as long as a prairie dog can be saved?
Of course. They'll be screaming "save the planet", etc. Al Gore will revise his former prediction that the polar bears will be dead by last year, etc. Alexia Ocassio-Cortez, the brain trust of the donkeys, will lash herself to a drilling rig or something like that.
But for the next two years of President Trump – or six years if things work out well, we shall drill and pump.
Drill, drill, drill.
Might help with that awkward Debtstar.
The Texas economy will boom. You might want to build a new cathedral or something in Odessa.
More jobs and new grounds for fractivists. Six years can help. New Mexico is turning blue.
As to the fractivists, stirring shit in Colfax County, NM might be hazardous to their health. One can hope, no?
The fractivists shouldn't use any gasoline or gas because it could have originated from fracturing. That will keep them home.
I hate to get my hopes up, but maybe I'll be able to afford to heat my home in the winter in my retirement after all.
Small hope…
Yes, it will be somewhat the same as Anwar up in Alaska: developing this wasteland will kill the horned-tooth rattlesnake, or devastate the endangered spotted dung beetle. And of course, this new oil field is lousy with sacred burial grounds of the Commanche, Apache, Hopi, Javapai, and a few dozen other tribes (all to which Sen. Elizabeth Warren belongs as a blood member).
It will be awhile before we ever see one drop of oil from this new patch. Mark my words, LL.
Yeah, there is no such thing as "wasteland" to the enlightened, unless THEY want to do something with it, like build a retreat where freaks and misfits can gather to contemplate their navels.
Texas could always approve the drilling and such and leave New Mexico to whine that Texas is stealing all their energy…
Using directional drilling, they can send the drills deep into NMEX from Free Texas and pump the field dry without paying a cent of royalties to NMEX.
Congratulate. This will fund the wall. The US will prosper and new opportunities will arrive as the US cover its own demand for oil and gas and become independent of import.
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