Who's Hiding All the Oil?
This link was sent to me in an email. If you can believe it, it leads to a major conspiracy regarding the vast amounts of oil buried in the U.S.
What or who do you think is behind this?
I think the government is hiding all the oil. There's too much conspiracy these days that it is frightening to live.
Obama. Just joking, kind of.
The amount of oil in a reserve is guess-i-mated from a series of exploratory wells drilled strategically but spaced apart. By luck (or lack thereof) you can drill next to a deposit and report dry, where 1,000 feet away you might hit a gas pocket and have a gusher. These wells are expensive to drill, and no one is going to drill hundreds of them just to tell you there is a lot of oil. They will only drill when they can reasonably expect to extract the oil they find and make some money (actually a lot of money).
Obama's drilling policy has made it uneconomical for developers to explore in the USA, because there are no guarantees they can get a permit for the production wells. We are now paying for that policy at the gas pump.
In addition to the oil in the Bakken Formation, there is also a huge reserve of natural gas in the Appalachian Mountains recently discovered and being exploited in Pennsylvania. Both ‘discoveries’ have huge financial impacts, especially finding a gigantic gas reserve so close to the east coast population zones.
Maybe Americans can let their politicians know that until ‘green’ technologies become economically feasible, we should be exploring and drilling.
by Stump Parrish7 years ago
How do we make sure this doesn't happen again you ask? Deregulate further and open more of the gulf to drilling. That could only makes sense to those in the oil companies back pockets.
by CaribeM7 years ago
The recent events in the Gulf after the explosion of the Deepwater Horizon, reminds us again that offshore oil drilling is too dangerous for marine ecosystems and coastal communities and economies, I think it should not...
by kerryg6 years ago
Contrary to what has been suggested in several posts here over the last few weeks, Obama's supposed imposition of "regulation after regulation, roadblock after roadblock" is not what's holding up domestic oil...
by David Zephaniah6 years ago
Do you support to domestic oil drilling?To become independent of foreign oil forever, and to reduce gas prices?
by Don W7 years ago
Would a free market have prevented this from happening?I'm guessing the libertarian argument would be that the failings of state regulation was a contributing factor. Those failings stemming from the fact that the...
by CMHypno7 years ago
Obama's attacks on BP are increasingly being viewed in the UK as signs of his anti-British stance. Or is he just trying to pull attention away from his own administration's...
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