Oil Shortage

[tcmtech]

As local knowledge 3.8 billion barrels numbers was the late 1970's estimates.

Sorry but as a native local with first hand experience in the oil fields and having a fair amount of dealing with the workers I will take their words over what the media says every time.
Unfortunately I expect the rest of the world wont get to officially hear that stuff in reports for quite some time.

What ever is here certainly has them scrambling to develop a solid long term infrastructure around it. I know that much!

Anyway for some interesting and more up to date reading and fun information in general about whats going on here check this out. https://www.bakkenblog.com/

 

[Electroenthusiast]

It's better now to invest money on oil, rather than in shares.
I've heard that about 28,000 gallons is used everyday.

 

[Mikebits]

Sure, but the initial investment in oil stock is gonna cost ya.

 

[shortbus=]

@tcmtech - do they have 'waste brine injection wells' in your area? They have a few around here and are blaming one of them for causing local EARTHQUAKES. Most in the 2.0 range but the last one on New Years Eve day was a 4.0 . First earthquake I've ever felt! 4.0 is still small but it was kind of scary, loud boom and shook whole house.

 

[tcmtech]

Yes we have them here. However our subsoils and what not dont hit true basement rock untll way past 10,000 feet down. Everything else from the surface to there is actualy hard compacted clay and similar material thats flexible.

No real chance of earthquakes here in the center of the state being there is no actual rock with fault lines to be affected.

 

[Electroenthusiast]

Sure, but the initial investment in oil stock is gonna cost ya.

But, you can get good returns(for sure) as the time go by. IMO, Def. loss doesn't incur when you invest on it, because the oil prices only hike.

 

[alec_t]

I've heard that about 28,000 gallons is used everyday.

I think you need to add lots of zeroes to the end of that number

 

[Electroenthusiast]

I think you need to add lots of zeroes to the end of that number

Yes, i'm Wrong. I had grasped that some 28 ------- gallons is used in a single day. I dont remember the no. exactly, had noted that in one of my book, but haven't able to find that. It would have been nice if i could have used Ctrl+F to search my book. LOL

 

[shortbus=]

Thanks for the reply. The well injection well is 9,300ft deep. We do have some faults linked to the New Madrid fault line.