IEA: US will be the world's biggest oil producer by 2017

[Viking]

That's why china is full of feathered dinosaurs, america east of the rockies is full of fish and europe is full of large sea monsters. 

And you say Christians are gullible . . .

Science works beeyotches. Reality is real beeyotches.

[Cecil]

Fracking takes a similar amount of water as regular drilling.  China can't do this fracking thing because it wasn't under shallow water 100 million years ago like central europe and the mississippi basin and consequently doesn't have shale everywhere.

That's why china is full of feathered dinosaurs, america east of the rockies is full of fish and europe is full of large sea monsters. 

Water has little or nothing to do with it. It's an insignificant blip and water tankers shuttling to and from the location are more than enough.   Remember the extra amount of water in liters needed for a frack job is slightly more than the well volume if you choose not to recycle the saline used for drilling.

So where in europe is the major shale deposits located and why arent we using it? Cost I guess?

[crazy canuck]

Once the Americans Frack up their water supply liquid gold will have a whole new meaning.  I got an ice berg to sell you - cheap.

[Viking]

Fracking takes a similar amount of water as regular drilling.  China can't do this fracking thing because it wasn't under shallow water 100 million years ago like central europe and the mississippi basin and consequently doesn't have shale everywhere.

That's why china is full of feathered dinosaurs, america east of the rockies is full of fish and europe is full of large sea monsters. 

Water has little or nothing to do with it. It's an insignificant blip and water tankers shuttling to and from the location are more than enough.   Remember the extra amount of water in liters needed for a frack job is slightly more than the well volume if you choose not to recycle the saline used for drilling.

So where in europe is the major shale deposits located and why arent we using it? Cost I guess?

http://shalestuff.com/shale-industry/europe-invest-technology-development/article02046

Basically on the really really big unbroken plains stretching from the pyrenees to the urals is sedimentary and the entire set of orogenic mountain ranges that were the bottom of the tethys sea from spain to pakistan not only is sedimentary but was the bottom of a shallow sea 100 -50 million years ago. So, basically all of europe except norway and scotland.

The limitations have been economic and political. Getting permission to drill in inhabited areas is difficult since neighbors who don't own the land get a say and are hard to bribe since you need to compensate for loss of property values associated with having gas production in your cul-de-sac. This costs alot and is difficult. Shale gas operations have to be of a sufficient size to be worth while. The cost of transporting natural gas is expensive on land unless you have a pipeline, which requires a certain amount of throughput to be economical. So, you need to convince alot of farmers and often residents to allow for the drilling and then convince even more farmers and residents to allow the pipeline.

It is difficult from a regulation perspective. The population is too dense and the only country where that doesn't matter already has more gas than it has pipelines for (Russia).

[Richard Hakluyt]

According to the IEA by 2035 90% of Middle east oil will be exported to Asia, mainly China.....

http://www.ogj.com/articles/2012/11/iea-us-to-overtake-saudi-arabia-in-oil-production.html

So we will be able to give the Middle East two fingers and forget about the bloody place, this will provide comfort as I "celebrate" my 80th birthday 

[Viking]

According to the IEA by 2035 90% of Middle east oil will be exported to Asia, mainly China.....

http://www.ogj.com/articles/2012/11/iea-us-to-overtake-saudi-arabia-in-oil-production.html

So we will be able to give the Middle East two fingers and forget about the bloody place, this will provide comfort as I "celebrate" my 80th birthday 

Mid East oil already primarily goes to japan and europe today.

[Eddie Teach]

Reality is real

Prove it.

[Viking]

Reality is real

Prove it.

Solopsism.

[The Minsky Moment]

Stands to reason that as price goes up, supply will follow.  That is something a first year micro student could tell you.  Yet some of the more extreme proponents of the peak oil theory questioned that apparent truism on the ground of geologic limits.  In, reality the total volume of hydrocarbons in the earth is enormous, far in excess of yearly oil and gas consumption.  What is limited is the amount of economically recoverable hydrocarbons, and that limit is simply a function of the existing technology and the price paid for oil.  The key factor for the US boom is the latter.  Fracking and horizontal drilling are decades-old technologies.  But using them in the US made no economic sense with oil at $20/barrel.  With prices steady and holding at or above 100, it's a different story.

Economists say and do dumb things all the time, but the rudiments of price theory are very simple and very powerful explanatory tools for lots of purposes.

[crazy canuck]

Economists say and do dumb things all the time, but the rudiments of price theory are very simple and very powerful explanatory tools for lots of purposes.

Maybe but you have a certain flair for explaining economics so that even I can understand them.

[Viking]

Economists say and do dumb things all the time, but the rudiments of price theory are very simple and very powerful explanatory tools for lots of purposes.

And yet there are still socialists out there.... sigh.....

[dps]

Just wait until ohio gets to fully exploit its resources. We might even out douchebag the Texans.

Ohio has never been lacking in the douchebag department.

It's actually referred to as the Ohio Secretary of State, not the Department of Douchebag, like other states.

Surely they insist on it being referred to as THE Ohio Secretary of State.

[Richard Hakluyt]

A reductio ad absurdum. The free oxygen in the Earth's atmosphere exists as a consequence of photosynthesis, if we could somehow get our hands on all the carbon sequestered by plants and burn it then we would use up all the oxygen and return to a carbon dioxide/nitrogen atmosphere. The limit to fossil fuel consumption is the carbon dioxide level, not "peak oil".

[MadImmortalMan]

Fracking takes a similar amount of water as regular drilling.  China can't do this fracking thing because it wasn't under shallow water 100 million years ago like central europe and the mississippi basin and consequently doesn't have shale everywhere.

That's why china is full of feathered dinosaurs, america east of the rockies is full of fish and europe is full of large sea monsters. 

Water has little or nothing to do with it. It's an insignificant blip and water tankers shuttling to and from the location are more than enough.   Remember the extra amount of water in liters needed for a frack job is slightly more than the well volume if you choose not to recycle the saline used for drilling.

So where in europe is the major shale deposits located and why arent we using it? Cost I guess?

Most of Germany and Eastern France. Go nuts.

[Razgovory]

Reality is real

Prove it.

Solopsism.

Isn't that the French for "whore"?