Are you in favor of lifting the 40 year ban on oil exports?

I just read a head line on Fox News Channel website that the politicians are trying to lift the 40 year ban on oil exports... Sounds like that will send the prices back up and level the playing field for the U.S. against the OPEC countries... Any one else have any insight about this?

 

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Permalink Reply by Joseph-Ohio on December 17, 2015 at 6:51am

Thanks again Bluflame.

Best of luck to all of us.

J-O

Permalink Reply by Joseph-Ohio on December 17, 2015 at 7:12am
Need to develop a bigger market for the Natural Gas the way I see it.

That's gonna take a political sea change.

Thinkin' that's what's probably gonna happen too.

Good luck to all of us.

J-O
Permalink Reply by james david lamm on December 20, 2015 at 7:18am

joe, I have a friend working at marathon canton refinery tank farm. they have ben split streaming heavy crude with condensate in order to refine it to fuel for a good while. they cant over do it or the feed stock gets to thin for what it was designed for. the black oil side of Utica has not shown good results and many e&p have stopped drilling there.

Permalink Reply by Joseph-Ohio on December 20, 2015 at 12:26pm

Thanks for your insights JDL.

But, personally, I wouldn't chalk it all up to the 'black oil' side of the Utica not showing good results as of yet because :

1) As far as I know there hasn't been many attempts (that I know of again) to develop it.

2) Oil's new low price of $34.73 per barrel (as is currently posted at the top of this very page as I write).

3) No (or at least insufficient) infrastructure in place to handle increased production (as far as I know).

4) Probable Legislation modifications yet required to enable marketing overseas.

Just think it's probably premature to pin it all on poor Utica 'black oil' zone performance.

Just MHOs / read / interpretations right now.

Permalink Reply by Bluflame on December 20, 2015 at 12:37pm

J-O,

  There have been several attempts to drill in the Western "black oil" section of the Utica over the past few years. All have been unsuccessful at producing commercial quantities of oil, even at fondly-remembered prices exceeding $100/brl.

   IMHO, someone may find a successful drilling formula in the black oil segment, but it won't be happening any time soon.

   Oil/Condensate is separated at the well site, stored on site in dedicated tanks, and periodically shipped to final destinations via truck. The E&P's get a second bite at the condensate apple during the fractionation process. This is the condensate formerly used as diluent.

BluFlame

Permalink Reply by Joseph-Ohio on December 20, 2015 at 8:06pm

Bluflame,

That would be the 1st several (basically failed) 'black oil' recovery attempts in the western Utica that I've read of.

I have read of a couple of attempts in the 'black oil' zone awhile ago on these pages but never advised of results (good or bad).  I also recall that the lessors were signed into 'secrecy agreements' or instructed to maintain secrecy regarding results (or some such). 

And, I infer from your reply, that no new infrastructure (such as specialized 'gathering' / main transfer piping systems) would be required to handle the 'black oil' / condensate parts of the Utica as you've offered that both are standardly hauled away via tanker trucks.

Thank you for those insights.

Keep me honest.

Best Regards

Permalink Reply by Robert Bond on December 16, 2015 at 2:38am

If we don't allow exports  should we limit imports to a level that keeps our domestic production at a healthy level now that we have the shale technology?  This could help our balance of trade.

Permalink Reply by Joseph-Ohio on December 16, 2015 at 3:51am

I think we and our western allies should embargo / ban S. A. / O.P.E.C. oil altogether.

I think we should only trade with 'vetted' allies myself.

Trade agreements with 'vetted' allies are in order as well.

Coalition time.

All IMHO.

Permalink Reply by lance on December 16, 2015 at 6:43am

YES! Now that makes sense... I think our next P.O.T.U.S. should go with that... Go Trump!!!

Permalink Reply by Bluflame on December 17, 2015 at 3:15am

J.O.,

  I suggest letting the market determine flow of oil trade. Any restriction risks invoking the "Law of Unintended Consequences". Not to mention creating yet another government agency to monitor compliance. 

  I get your idea, but do not believe such an embargo would be in our best national interest.

IMHO,

BluFlame

Permalink Reply by Joseph-Ohio on December 17, 2015 at 3:58am

I hate (read despise / detest) even thinking about trading with non-allied / potential enemy states.

Guess it's just not my make up / contained in my DNA.

Better to kick them in the shins at every opportunity.

Especially when we have all of these matters to tend to here at home.

Thinking we need to coalesce with our allies.

The opposition is (as it appears to me anyway).

Never understood any of it of our leadership (and there have been many examples).

 

 

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on December 16, 2015 at 3:32am

Let's wait until we get these Appalachain Basin producer thieves under control.

They are taking without being audited and are in an "imaginary" throttle back right now, breaking Ohio production records for oil along with records for royalty underpayment.

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