WaEx: The Interior Department has identified a massive basin of oil and natural gas in Texas and New Mexico, enough to cover nearly seven years of all U.S. needs.
“Christmas came a few weeks early this year,” said Interior Secretary Ryan Zinke in announcing the discovery, which his department described as the “largest continuous oil and gas resource potential ever assessed.”
How much: 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids. The U.S. consumes about 7 billion barrels of oil a year.
“Now, I know for a fact that American energy dominance is within our grasp as a nation,” said Zinke, who has bullishly been promoting the tapping of energy on federal lands. read more
“I think that, at some point, you’ve found enough oil and gas reserves.”
Barry 0bama.
I remember when the debate was going on about the Alaskan Pipeline, back in the ’70’s. At that time the so-called “experts” opposing the pipeline, said it would only provide oil for at most, 10 years. Now, 45 years later, it is still carrying oil.
Now that’s Trump’s fault right there. Oorah!
Looks like I’ll be busy hauling crude and condensate until I’m ninety.
“Peak oil” is a crock of shite.
The really good news is that there is virtually no federal land in Texas, other than the national parks. When Texas agreed to join the United States in 1836, it was with the condition that Texas retained ownership of all public lands rather than turn them over to the US Government. Don’t mess with Texas!
They keep finding more so-called fossil fuels. I don’t think world reserves are finite, nor do I think it’s made from rotten old ferns and dinosaur bodies. God keeps making more of it for our use.
One of my best friends sells tools in Texas. This is good news for him.