The World Probably has Unlimited Oil and Natural Gas

Oil, coal and natural gas have given the world its current prosperity by providing us with the concentrated energy needed to do huge amounts of work. But if you are old enough then you might remember the first ‘earth day’ in 1970 when we heard predictions like this from an ecologist named Kenneth Watt:

“By the year 2000, if present trends continue, we will be using up crude oil at such a rate… that there won’t be any more crude oil. You’ll drive up to the pump and say, ‘Fill ‘er up, buddy,’ and he’ll say, ‘I am very sorry, there isn’t any.'”

This prediction has been made over and over through the years. ‘Greenies’ use this scare story to raise money for their groups like the Sierra Club. Yet from extensive study of statistics believes that the world has a virtually unlimited supply of oil and natural gas since our known reserves are vast while most of the world is either untapped, unexplored or underexplored at the same time that oil industry efficiencies have advanced dramatically.

CNN Money even reported in July 2016:

Move over, Saudi Arabia and Russia. America now has more untapped oil than any other country on the planet.

This news came after the ecologists warned us for decades that “America is running out of oil” and that “peak American oil production has passed”. This is yet another example of the falsehoods that the ‘greenies’ spread constantly like ‘global warming’ and ‘rising seas’.

Here are a few examples of global petroleum abundance. The estimates given below are available on the internet as averages or maximums. They are given as general references since the size of an oil deposit is never known until it is pumped out, and thus the estimates are highly variable based on a variety of criteria.

As an example, the Prudhoe Bay oil field in Northern Alaska was first discovered in the 1960s and was estimated at 1 billion barrels. It since has produced 18 billion.

*The United States has tapped into the Bakken oil formation in North Dakota over the last decade. On the first ‘earth day’ the Bakken was little known and was considered an unlikely source for much of anything. It holds up to 40 billion barrels of oil including the Canadian side. It now is playing a major role in keeping US gasoline prices down.

*The so-called ‘oil sands’ in the Canadian province of Alberta, where oil is mixed with sand that is on or near the surface, hold up to 2 trillion barrels. The province of Manitoba also has oil sands.

*US ‘oil shale’ deposits in Colorado and Utah hold up to 2 trillion barrels. (Note: The whole world has used 1.1 trillion barrels of oil in the last 150 years.)

*The ANWR deposit in Northern Alaska is estimated at 10 billion barrels. Alaska is enormous – twice the size of Texas – and it certainly has large numbers of significant oil and natural gas deposits besides ANWR. It is largely unexplored.

*For many decades we have heard that the US has a “500 year supply of coal”. Since that coal can all be converted to gasoline and heating oil and other products then we, in effect, have “a 500 year supply of oil”.

*Tiny Israel only recently discovered massive supplies in underground ‘oil shale’ formations. Here is reporting in 2015:

Energy geologists estimate that billions of barrels of crude oil are available in shale in the occupied Golan Heights, but will Israel be able to get to it? If it can, the field could make the Jewish state self-sufficient in oil for years.

Afek Oil and Gas, a subsidiary of the U.S. company Genie Energy, had been drilling in the southern Golan Heights for more than a year, and in September announced the discovery of the shale deposit. But the size of the field wasn’t confirmed until Oct. 7.

In an interview with Israel’s Channel 2 News, the company’s chief geologist, Yuval Bartov, said, “We are talking about a strata which is 350 meters (1,150 feet) thick, and what is important is the thickness and the porosity.”

“On average in the world strata are 20-30 meters thick,” Bartov said, “so this is 10 times as large as that, so we are talking about significant quantities.

… So far, Afek has drilled three times into the Golan shale and reported finding huge reserves of crude that could easily meet Israel’s demand for fuel for a long time. The country now uses about 270,000 barrels of oil every day.

Wow… 1,150 feet thick is almost as thick as the Empire State Building is tall and the shale covers 1,200 square miles or the size of the state of Rhode Island. That is a huge amount of oil for a nation that fretted for decades that it was oil-poor and that its Arab enemies were all oil-rich.

How many other places around the globe have these ‘hidden’ deposits that have not yet been discovered?

Nobody knows. Only a small part of the earth has even been seriously explored. There could be oil or natural gas somewhere deep under YOUR house. Or mine.

*Russia’s vast Siberia region is 1.5 times the size of the US. Its established and abundant oil and natural gas deposits indicate that it probably has huge untapped oil and gas treasures, particularly in light of new mapping technologies which have replaced the hit-or-miss drilling practices of the past. The cold climate and the remoteness of the terrain are major hindrances to oil and gas development but if there is a demand the Russians will get the oil.

There are countless more examples worldwide. Oil is not only becoming easier to find with advanced mapping, but “fracking” and directional drilling allow more and more oil to be extracted from fewer and fewer wells. This is increasing global oil and gas production by leaps and bounds.

Naturally environmentalists vehemently oppose ‘fracking’ because it debunks their theory that “the world is running out of oil”.

Perhaps you remember when gasoline approached $4 a gallon under Obama back around 2012 and 2013. This came after years of ‘green’ obstruction that pushed up the price through scarcity of supply.

And then it fell to almost $2 a gallon in 2014. That drop came from big new supplies from “fracking” in the Bakken formation, and in Texas and other places. There are estimated to be 2 million ‘fracked’ oil wells that have been drilled in the US over the last 70 years.

The only reason that gasoline today is $8 a gallon in British Columbia, Canada while it is less than $3 a gallon just over the border in the US state of Washington is that liberal British Columbia pushes up the price artificially through ‘green’ taxes to discourage consumption, not because of a lack of supply.

Don’t ever believe the ‘green’ myth that “the world is running out of oil” and that we are doomed to $10 a gallon for gasoline. ‘Greenies’, on the other hand, want to produce scarcity and high prices so that we use less oil and so that ‘green’ energy seems like a good deal in comparison. We should not allow them to do it.

Most of the world has never even been explored or is underexplored like the deep oceans, the shallow oceans, the continental shelfs, Siberia, the Canadian wilderness, Australia, Africa, Alaska, China (Wikipedia reports: A total Chinese shale resource amounts of 720 billion tonnes, located in 80 deposits of 47 oil shales basins. This is equal to 48 billion tonnes of shale oil. At the same time there are speculations that the actual resource may even exceed the oil shale resource of the United States), India, Antarctica, South America, the Middle East, etc. There even are vast untapped natural gas deposits in New York state.

And we keep finding more and more oil and gas in places where we thought that it didn’t exist, like North Dakota.

Environmentalists are now desperately seeking to block “fracking” in their states so as to limit the supply of oil and natural gas in order to hide its obvious abundance.

Look at this from Newsmax:

U.S. crude oil production jumped 215,000 barrels per day (bpd) to 10.47 million bpd in March, the highest on record, the Energy Information Administration (EIA) said in a monthly report on Thursday.

Production in Texas rose by 4 percent to almost 4.2 million bpd, a record high based on the data going back to 2005. The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield.

Output from North Dakota held around 1.2 million bpd, while output in the federal Gulf of Mexico declined 1.1 percent to 1.7 million bpd.

The agency also revised February oil production down by 5,000 bpd to 10.26 million bpd.

U.S. natural gas production in the lower 48 states rose to an all-time high of 88.8 billion cubic feet per day (bcfd) in March, up from the prior record of 87.7 bcfd in February, according to EIA’s 914 production report.

Output in Texas, the nation’s largest gas producer, increased 1.3 percent in March to 22.7 bcfd, the most since April 2016.

In Pennsylvania, the second biggest gas producing state, production dipped to 16.4 bcfd in March, down 0.6 percent from February’s record high of 16.5 bcfd. That compares with output of 14.8 bcfd in March 2017.

Now consider some facts about natural gas which is replacing oil and coal in many applications:

The Marcellus Shale is one of the world’s largest natural gas formations covering much of Pennsylvania and West Virginia, and parts of Ohio and New York state. It could have up to 600 trillion cubic feet of gas. Tapping Marcellus has brought US natural gas prices way down while the extraction of this gas has contributed to major US gas exports, creating jobs and wealth for America. reports:

Recent data compiled by the U.S. Energy Information Administration shows that last year the U.S. exported more natural gas than it imported. This is a significant milestone because the last time this happened, in 1957, Dwight Eisenhower was in the White House, cars had big tail fins, and the brand-new Frisbee was all the rage.

As recently as a decade ago, the U.S. was thought to be running out of natural gas supplies, and had started building terminals to import liquefied natural gas, or LNG. But innovations like horizontal drilling and hydraulic fracturing have completely flipped the script. Today, America has more than enough natural gas to meet its own needs and to export gas to customers around the world.

Some of that natural gas is exported via pipelines to Mexico and Canada. But a growing portion of it is exported as LNG. The gas is liquefied by cooling it to -260 degrees Fahrenheit, reducing its volume by a factor of 600. It’s then loaded and shipped aboard specialized LNG vessels. The Sabine Pass terminal, one of two U.S. LNG export terminals, was originally built as an import facility but later retrofitted to export LNG.

Here are five facts and figures driving America’s rise as a natural gas export champion.

1.94 billion cubic feet a day – That’s how much LNG the U.S. shipped overseas last year – four times the amount it exported in 2016.

$20 billion – Annually, LNG exports could add more than $20 billion to the U.S. economy and create up to 35,200 jobs.

3 countries – Combined, Mexico, China and South Korea purchased more than half of all U.S. LNG last year.

7 terminals – Right now the U.S. has two operating LNG export terminals: Sabine Pass (Louisiana) and Cove Point (Maryland). Under construction, however, are five other terminals, which by the end of next year could ramp up the country’s export capacity to 9.6 billion cubic feet per day.

81.7 billion cubic feet per day – That’s the amount of natural gas the Energy Information Administration forecasts the US will produce this year, up from 73.6 billion cubic feet per day last year. U.S. consumption will trail behind, averaging 78.8 billion cubic feet per day. The difference is a surplus and itself a strong indication that U.S. natural gas exports aren’t slowing down anytime soon.

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