Has anyone heard anything about the rate of production declining abnormally fast? It was brought to my attention that there is some concern that production might fall off in Utica wells faster than in other shales. Does anyone know if this is the case?
China has more shale but maybe not more gas. They have only drilled a couple of test wells and the results were poor from I read. The sale has less porosity and doesn't fracture as well. They, along the help of US companies will probably improve on the early results but they have a long way to go.
China's energy needs will be huge. Doubt if they can supply all the nat gas they need themselves. But even if they don't buy from us, that's ok because the global demand will still be humongous.
No you didn't Jim.
You've described a few foreign flags.
Are those our only enemies ?
Enemy states are those who are not with us / not our allies I guess.
Not with us means they are against us.
Heck even our allies could turn a corner and become our enemies.
Use our resources here domestically -
Matthew, good post. I have always doubted our ability to completely eliminate oil imports because of the price inequities. All of our crude is expensive to extract and as soon as we get our own production high enough to limit imports, the global price will fall well below our cost of extraction. This will limit just how much we will produce domestically.
Oil in the ME can be extraxted for as low as $8/br. They can easily undercut domestic producers. The one thing we have in our favor is that most of those countries need prices over $60/br to finance all their governmental functions.
I just wish our companies could invest more into our resources. I read a while back where our current administration in Washington invited a team of China scientists to learn how to use our fracking methods by the US Dept. of Energy. Exporting LNG would be a huge benefit for US, why give China the edge?
For the same reason we gave Brazil two billion dollars to drill for oil there. This is not a pro US energy administration.
Amen, Lynn. So why in the heck are Ohioans determined to re-elect Obama? He is NOT in favor of any fossil fuel whatsoever despite a speech that he gave a few weeks back in Ohio where he stated he was in favor of natural gas development. Of course he came out for coal and added it to his energy piechart the day after an incarcerated felon got 40%of the vote in the West Virginia presidential primary.
Cause the white folk are the minority now.they are now the slaves, they do the work, pay the majority of taxes.
Why sell any foreign flag including (especially) China our strategic advantage and key to energy independence ?
Instead, why not concentrate on Domestic development, production and use - like Conversion from Diesel and Gasoline to CNG ?
A major program like that would create thousands of Domestic Jobs and fund our standard of living instead of the 3rd world's.
Meg-look for the source of the production decline rates. Most of the ones I found were anti-drilling sources.