Massive Oil Deposit Could Increase U.S. Reserve by 10X

[DDMac]

Bring olives or mixer, please. Mac.

[Teresa Heilevang]

Well.. I have in my sack,, ( when I have to set on the sidelines and only listen) some cheese dip, nachos, summer sausage, beer, Rum, lemons. I guess I can add some olives, vermouth and gin. * I may need to buy a bigger sack*

[DDMac]

Not you, dear. Outlaw could bring olives (please). I have a Class III hitch on the Jeep, so I'll bring the tank of Ethanol. You can just referee the next round of insight on the oil price crisis.
I am genuinely astounded by the scope of real knowledge and experience y'all have to share. What I could understand makes sense.
Thanks, Mac.

[tombogan03884]

Not you, dear. Outlaw could bring olives (please). I have a Class III hitch on the Jeep, so I'll bring the tank of Ethanol. You can just referee the next round of insight on the oil price crisis.
I am genuinely astounded by the scope of real knowledge and experience y'all have to share. What I could understand makes sense.
Thanks, Mac.

I'm with these guy's (ans M'ette) in the listen and learn seats. Mac, I got paper cups. 

[Hazcat]

Shale Oil

 Our shale oil deposits alone can PRODUCE over 3x the known oil in Saudi Arabia with current technology.  If we got 20% of our current oil usage from this one resource, it would last over 400 years. Selling point to make PROFIT is 35 to 54 dollars a barrel.

http://www.rockymountainnews.com/drmn/energy/article/0,2777,DRMN_23914_4744357,00.html

Oil shale costs (35 - 54 a barrel)
http://www.unconventionalfuels.org/publications/factsheets/Oil_Shale_Economics_Fact_Sheet.pdf

Oil shale fact sheet
http://www.unconventionalfuels.org/overviewfuels.html

[Sponsor]

[DDMac]

While that would finally get "our interests" out of the Land of Sand, it locks in the continuation of what we think of as high gas prices. Gingrich is right to suggest large government prizes for the development of the first marketable 100 mpg car. When I was a pup, we had 90cc Honda Super Hawks that would get that kind of mileage, but we also had GTOs and Super Sports that you could afford to drive, even at 12 mpg.. Hate that our kids will miss that.
If we (the oil companies) move forward on the shale project, OPEC would drop the price of crude to make it financially unsound to not buy theirs. The decision then would be whether it is better to look at it as a profit/loss issue, or freedom/independence issue. I say let's get off the hook.
Mac.
And cheaper ammo!!

[Hazcat]

While that would finally get "our interests" out of the Land of Sand, it locks in the continuation of what we think of as high gas prices. Gingrich is right to suggest large government prizes for the development of the first marketable 100 mpg car. When I was a pup, we had 90cc Honda Super Hawks that would get that kind of mileage, but we also had GTOs and Super Sports that you could afford to drive, even at 12 mpg.. Hate that our kids will miss that.
If we (the oil companies) move forward on the shale project, OPEC would drop the price of crude to make it financially unsound to not buy theirs. The decision then would be whether it is better to look at it as a profit/loss issue, or freedom/independence issue. I say let's get off the hook.Mac.
And cheaper ammo!!

Amen to that statement.  It would have a duel benefit of lowering foreign oil cost and profit as well as making us less dependent.

[Rastus]

Kewl kat...I looked at that post link.  I would have to review their work thoroughly.  For me, I saw insufficient data or citations to confirm the claims made.  Legally, on a professional engineering basis, I have no cause to question their statements.

For other projects I know of (and there are hundreds) that are being offered to and requesting funding from Wall Street or whoever they can suck in, I would say "run Gump run".  There are lots of unscrupulous people out there who are hawking "plays" or "projects" that don't have enough gas or oil in them to ever pay out...some of the front guys may be lawyers.  There are people who put together lease positions at a few dollars an acre, then turn those acres (5,000 to 100,000 range blocks usually) by promoting them as a resource for hundreds or, in the case I'm thinking of, $4,000 and acre for about 20,000 acres.  $4,000 an acre asked...settle for 2,500 to 3,500 and paid maybe $200 an acre....and the guys aren't engineers how could they know there wasn't enough gas/oil there to make money??

So....the super-intelligent, know-it-all, I-am-god, MBA's get snookered by some slick front men and slugs get rich.  Then the MBA's defense is 1) I'm not an engineer and 2) they had a study by an "engineer" (yeah, right).  Insufficient defense, I'd say...don't be cheap hire your own engineer at 1/10 to 1/1000 your Investment Banker MBA payoff.  Oh yeah, there may be another financial crash on the way somewhere down the road if many of the projects get funded.

[Hazcat]

Rastus,

I put more links in a later post.

Most of this is from the government but it seems to be backed up pretty well.  Shell oil is working on an 'in situ' retorting process that seems to be promising.

In any case at current prices you can fund a lot off reasearch and still undercut market prices.

[DDMac]

I JUST got an email about Canadian Oil Sands and what a great opportunity it will be. Rastus, you nailed that one.
Mac.