With all the recent activity around the globe and conflicts going on in the eastern countries, there will be a decreasing of oil supply importing into the United States. Some of these countries (such as Libya and Egypt) have some of the largest oil fields and reserves known in the world. With that being said, it is important to recognize the importance of domestic oil and start targeting oil reserves in the United States to keep our oil prices within reason. Below is a movie from Thomas Petrie, Vice Chairman of Bank of America, talking about the opportunities in US Shale oil right now. He also discusses about investment opportunities into medium and smaller companies that are focusing on these shale plays today. Please take a look at the video...I would like to here your thoughts on it with the current situations of higher oil prices relative to the conflicts going on in the east right now.
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"Plateau Oil!" I really like the sound of that. The shale plays are really a big thing today as he said. One of my classes this semester consists of designing a drilling plan in the Niobrara formation, most likely a horizontal well to access more formation. Horizontal wells several years a go were just a dream but attribute to much of the success today. I hope natural gas and oil will be pouring out of these huge plays in the U.S. sometimes soon.
ReplyDeleteMy understanding is that this is really controversial. It makes sense for natural gas, as far as I understand, because we have tons of that research. But my understanding was that oil shale was still not for sure (the jury is still out, as the video says). I thought that even if we drill tons here we will not be able to achieve energy independence in any sense of the word.
ReplyDeleteSo this is another example of a post where you give us a little tidbit of something interesting, but then don't follow through and give us the full picture.