Wolf DeVoon Posted August 8, 2014 Share Posted August 8, 2014 Government statistics on U.S. oil production are a pack of lies (just like "unemployment" number).Gail Tverberg, one of the guiding lights of the now-archived Oil Drum forum, has written a new must-read article about U.S. oil & gas production and consumption. We are not nearing "energy independence" and never will. The U.S. only produces 55% of the petroleum energy we consume, and we're consuming a lot less. Worse: production from North Dakota is bankrupting every one of the producers involved in hydraulic fracturing. If interest rates rise, they're out of business. Heating oil and gas prices have nowhere to go but up.http://www.zerohedge.com/news/2014-08-07/making-sense-us-oil-story Link to comment Share on other sites More sharing options...
Francisco Ferrer Posted August 8, 2014 Share Posted August 8, 2014 Ever notice how the "Drill, baby, drill" fire-breathers never talk about the potential deposits off the coast of swing state Florida? Link to comment Share on other sites More sharing options...
Wolf DeVoon Posted August 8, 2014 Author Share Posted August 8, 2014 Ever notice how the "Drill, baby, drill" fire-breathers never talk about the potential deposits off the coast of swing state Florida?That's because it has so little potential as a petroleum province. http://energy.usgs.gov/OilGas/AssessmentsData/NationalOilGasAssessment/USBasinSummaries.aspx?theTab=dataTab&provcode=5050Compare the Gulf Coast and Outer Continental Shelf http://pubs.usgs.gov/of/1997/ofr-97-470/OF97-470L/gulfofmexico.pdfTo see why OCS, Texas, Louisiana, Oklahoma, Colorado, and Alberta are prolific systems, look back 100 million years. Link to comment Share on other sites More sharing options...
Francisco Ferrer Posted August 8, 2014 Share Posted August 8, 2014 I read the USGS report: "The future of Florida’s moderate potential for undiscovered resources may be limited by environmental and political controls that discourage oil and gas exploration and development within the South Florida Basin."I thought that's why we have the drill-baby-drillers. To go on talk radio and bash the environmentalists and politicians getting in the way. Link to comment Share on other sites More sharing options...
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