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The US Is No Longer The King Of Shale Oil & Gas
If you thought the US was the king of shale, we are sorry to burst your bubble... it no longer wears the crown. China has more proven oil reserves than the US. As the following chart shows - from the EIA's 730-page report, which assesses the shale formations of 41 countries - the global race for shale development has started. As Casey Research's energy report discusses, countries that are not now known for their oil and gas production are showing much shale oil and gas promise.
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Oh goodie, I guess we are all saved now...
"...I guess we are all saved now..."
Right. What are the externals?
Spoiling fresh water resources?
We might want to think this one through a little bit.
You are likely not familar with my playbook...
We may not be, but the vice squad is.
Do you have anything to add of value?
Or do you just get off trying to bait and torment people anonymously?
So many shale bubbles to blow
"Spoiling fresh water resources?"
Beats eternal wars...
Me thinks that's a 'false choice'.
Pure Neptune in Pisces, bitchez!
Dreamin??? explain
Russia, land of the free... looking better all the time.
I would be willing to run a collection to buy you a one-way ticket for there....
I fear a guy like you would simply redistribute the funds.
no thanks.
Naw, I would personally escort you to make sure you got on the plane...
"We shouldn't be so dependent on foreign oil"
- John Corzine
It ain't "foreign" if it's got our energy companies expanding the resources, and our Cavalry expanding our Manifest Destiny.
They're all just 'savages', waiting to be civilized/Americanized.
/s
Quick! Get Matt Damon to China before they start fracking underneath the peasants' homes and turning their rivers into uninhabitable... oh wait.
Seriously, if China starts fracking what will happen to the fresh rotting pork deliveries floating down river? Whadda mess.
Seriously, if China starts fracking what will happen to the fresh rotting pork deliveries floating down river? Whadda mess.
Seriously, if China starts fracking what will happen to the fresh rotting pork deliveries floating down river? Whadda mess.
Well ~ at least we're still the "King of Pain"
~~~
http://www.youtube.com/watch?v=egakOKsSzhg
Wake me up when crude oil production from tight shale deposits exceeds 3% of world crude oil production...
In the mean time call me RV for short (that is short for Rip Van)....
I prefer to call you DS (that's short for DipShit).
And I would prefer to call you...
Never
The beauty is China is importing instead of running their reserves dry, unlike us here
Surely you jest....
Edit: I forgot that for the most part, the denizens here are clueless when it comes to energy... The Chinese are pumping just as hard on their reserves... Producing 4 mmbpd off of reserve base of 14.8 billion barrels is very similar to the US R/P..
PS Call me when China starts actually producing from those shales....
Oh, no worries. If those numbers are accurate, they have 10 years of oil not even counting the shale they havent developed yet.
Meh, China has coal, same as the US. It can always be turned into gasoline, and diesel fuel when pumping oil out of the ground proves too costly.
Really, care to discuss the required CAPEX to replace even 10% of Chinese or American crude oil demand with CTL? Not to mention what increases in coal production one would required?
Shouldn't have the NIMBY issues like in America either.
So sorry China. You're going to need a lot of water to get that oil and gas out of the shale. Oh, you say you're having a slight problem with water? Well then, no gas for you!
See, that's the beauty of it, we'll be able to drive around looking for water....
Oh, a final note, notice the use of the term "Proven Reserves". Now for a prospective field that is yet to be tapped that is one hell of a claim. In other words, listen to the snake oil salesman at your own risk...
Ah fuck, does this mean we are going to war with China also now?
We've always been at war with Eastasia
Fracking commies!
Gold, manufacturing ,and oil.
Whats a petrodollar again ?
If you thought the "oil wars" were fun, you are going to love the "water wars"
who fights over a renewable resource?
Please remind us how the various aquifers being pumped dry constitute "renewable"....
Where does the water go? What happens to it? If its not accessible for 6 months to a year, thats one thing. That obviously puts a cap on water usage.
But its still very different from that water being USED UP.
Obviously, water moving around will have impacts as well. Its not all the same if one aquifer gets larger, while another gets smaller. But there is no need to be alarmist.
Anyone ever been to Manitoba? Northwest Territories? What did you see?
It gets degraded from potable to non-potable among other things... Remind me what you think happened to Aral Sea?
Is rain potable? Where do you think it comes from? What about ice?
Besides that, there are a multitude of methods that we have to turn non-potable water into potable. One of the easiest, and least energy-consuming being a sand filter. There's also reverse-osmosis, and dehydration. Any one of these methods can turn piss into pure, drinkable water.
Great, extend that to about 2 billion people, their associated live stock and get back to us...
It's ok, they'll just have to become vegans. I mean, what is so bad if people have to work 30 hours per week just to get food and water? Sure, society will get a lot less complex for some people who will go to / back to subsistance farming.
Which 2 billion people?
Here is one study
http://www.cdc.gov/healthywater/global/assessing.html
There are other estimates: e.g.
http://www.one.org/c/international/issue/954/
http://www.indianexpress.com/news/indias-first-aquifer-atlas-released/1009272/
http://www.waterworld.com/articles/wwi/print/volume-25/issue-2/editorial-focus/groundwater-treatment/recharging-india-s.html
(I'll understand it if you pooh-pooh the Indian issue, after all it does not affect you)...
Maybe this could help:
http://en.wikipedia.org/wiki/Great_Recycling_and_Northern_Development_Canal
"Hudson Bay: Excess fresh water causes ice problems, with poor fisheries and short shipping season."
http://en.wikipedia.org/wiki/File:North_American_Fresh_Water_Run-Off2.png
Flak,
Finally you found a real subject to comment on.
About the time I was being taught about the coming ice age there was a defence colloge lecture
/debate about whether scarce potable water, or oil would cause WWIII.
Looks like the answer will be both.
The boetians are thick as moths around a porch light tonight....
PS Wasn't oil at the root of WWII? And lest we overlook the Golan Heights and the Jordan River?
Maybe from a Japanese perspective. Not from a German one though. They were still pissed, and legimately so, from getting fucked over at Versailles. Wilson reneged and made sure that his War to End All Wars wasn't.
It was a lot more than that buddy, but it is nice to see that you at least took High School history....
According to common knowledge, the whole purpose of WW2 was just to nab USSR's huge natural resources, and that Poland was just in the way (yet again), thus (unwillingly) dragging the UK/France into the fight, but not everyone shares the same opinion:
- http://en.wikipedia.org/wiki/Anglo-Polish_military_alliance#Criticism
With that line of thinking we only have a few million more years until more light sweet crude is available!
Do you realize how quickly we are draining the Ogalla aquifer in the Midwest? Not to mention the damage we are doing to our water sources building housing developments in the desert. We have the bulk of the worlds fresh water and we are wasting it just like everything else.
We "need" that Ogalla aquifer water to grow corn to make ethanol to feed SUVs carrying soccer moms. Haven't you heard?
Dr,
I've been to china twice and europe several times and nowhere have i seen the levels of consumption that occur in Canada and the US. Canada and the US are rich lands and fortunate historically but also very young historically. I get disheartened at MOAR MOAR MOAR attitudes that the earth can handle this. 7 billion sceaming MOAR. Less is more in my mind and I'm trying to figure out how to position myself.
regards
Who is this we? Don't include me in your collective.
Of course the aquifier is being drained, and when it is gone, the farmers will adapt, and grow their crops more efficiently or go bankrupt. I don't like change more than anyone else, but it's also none of my business what people do with their land. I would point to government intervention, and unintended consequences of Amerika's failed energy, and agricultural policies if you are looking for someone to blame.
Canada has more fresh water than the USA. I am not sure about it if you add in Alaska. Alaska has incredible amounts of fresh water.
Hoepfully Las Vegas, that corrupt shit hole that resembles hell, will be negatively imapcted.
Get a history book and an atlas and educate yourself.
? Fresh water is continually renewed, and re-distributed via evaporation, and precipitation. In second grade I was taught that this process is called the "water cycle"
Besides, I live in Canada, and the over-abundance of precipitation fed ground water is mainly a pain in the ass. The water table will drop 10 feet in 5 years, and the next year my basement is flooded. Nobody needs to threaten me to get their hands on it.
Haven't the Chinese talked about buying supertankers filled with Canadian fresh water? I know the USA talked to Canada about a water pipeline to the SW USA and Canada said forget it. I don't blame them.
BTW - Canada is the Saudi Arabia of water. I think Can and Venez have (separately) more shale oil than the Saudis have oil.
Hopefully they will be better than Waterworld with that douchebag Kevin Costner.
The key word here is proven !
The key word is water.
Since this is the end of peak oil, we need something to replace it. Peak water!
I'm game, please explain how this is the end of peak oil. I suggest you start by explaining what exactly you think Peak Oil is...
PS On a per capita basis Peak Fresh Water is fading in the rearview mirror...
We'll just use more oil to produce the oil in the ground and once we bring it out, we'll use all that oil to get even more oil!
It's kinda like cockroaches, eh?
http://www.powerlineblog.com/admin/ed-assets/2013/06/Chart2-copy.jpg
From this chart, we see that the faster we consume oil, the more the proven reserves grow.
Why no love for New Zealand??????
Tin FOIL HAT......NZ is solid red maybe?
Well, under NAFTA, all the energy in Canada and Mexico is ours for the 'taking', at pump prices lower than there. Ditto for S. Amer., and a coming SAFTA. Pretty soon Brasil will need our protection from Foreign Insurgents, disrupting our energy supplies and pathways. Then there are Libya and Pakistan, who are already enjoying the benefits of our protection and democracy. /s
BTW, Exxon already walked away from those Polish shales....
Caveat: Possibly related to guarenteed access to the Sakhalin II project as oil is far more lucrative than gas....
The Japanese horribly miscalculated when they decided to fight against the West instead of Russia. Heck, they probably could have just bought the other half of Sakhalin and avoided WW2 altogether.
i still dont see all of the fuss over energy.........we have world central bank brain power.............puts solar and wind to shame..................
Items:
1) All things oil related from China are state secrets. That means any data you get from them came from their government.
2) All shale doesn't have oil in it. In fact, "oil" gets redefined almost daily by whomever is trying to sell what. "All liquids". "Barrels of oil equivalent". Bottom line, it's mostly natural gas. Not oil. Look up the Marcellus shale. That's the one from Pennsylvania to New York. They came. They drilled. They found natural gas. They didn't sell it for much. They stopped drilling. Oil makes the drilling world go round. If you don't find it, it's a shale gas play and the drilling budget gets cut (or more likely you try to sell that lease to someone unsuspecting).
3) The Bakken now has more oil wells than Saudi Arabia. After four years, vs 60 years. April Bakken output was up 10,000 bpd with 135 new wells drilled/fracked and added. April 2012 Bakken output was up 35,000 bpd with 94 new wells drilled/fracked and added.
Ah. Drilling. Bullish for Haliburton. And Dick Cheney. Drill, baby, drill!
Unlike the US, China does not have a hat named Canada.
an aptly dunce-hat will do,...
"The Himalayas and Everest" http://library.thinkquest.org/20443/everest.html
You are right, they call their hat "Russia".
Ever get the feeling that all the fuss and modern wars are an end-run and claim for the last of the earth's precious energy resources?
People, sunlight, paper money... plenty more of where that came from. Oil... not so much. And w/o cheap, hi-grade Energy, all the other resources don't mean much.
This is not the first time China got slanted eyes over jerking itself off in a fracking earth shattering experiment.
So, are these shale plays more profitable than the Bakken?
https://www.dmr.nd.gov/oilgas/stats/historicalbakkenoilstats.pdf
'water and bluegold will be what 21st c. Wars will be fought over?'
"Turkey ready to deliver (via Ankara's distribution hub) Turmen(-istan) natural gas to Europe" 5/30/13 http://www.reuters.com/article/2013/05/30/gas-turkmenistan-turkey-idUSL5N0EB26M20130530
Note: Turkey has water: 90% of the Euphrates River and 50% of the Tigris River originate in Turkey. Turkey's Dam's allowance[s]?, can cause great unknown, unknown's damage to Syria... but can completely devastate Iraq! http://www.futuredirections.org.au/publications/food-and-water-crisis/678-water-shortage-crisis-escalating-in-the-tigris-euphrates-basin.html 8/28/12
Note2: Approx. 85% of the Blue (White?) Nile River originates in Ethiopia, servicing some 238 million people downstream (egypt)?
Now back to Pure, 'BlueGold (not shale!)' Natural Gas! China now consumes more energy than the U.S., and has growing pains,...?
Today's [6/19/13] fantastic article by Peter Dale Scott, on the 'Front Page' of www.atimes.com/ regarding Geopolitic's! Great H/T www.zerohege.com/ :-)) Tyler http://www.atimes.com/atimes/Middle_East/MID-01-190613.html "Hawks, doves and pipeline politics in Syria" {Iran, Iraq, and Syria bypass Turkey's Ankara [the central hub for Western Europes Gas supply]}
Note3: http://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_proven_reserves ie.) some reserves take into shale-gas exploration & findings?
,... on a final note I'd like to mention 'America's Asia-Pivot' and how counterproductive it has already been for America's backyard[dation?], regarding China? Nicaragua's Caribbean/ Atlantic vis-a-vis Pacific{a}.... Venezuela, Argentina, and Brazil! http://en.wikipedia.org/wiki/Nicaragua_Canal http://hknd-group.com/press-release/ < http://hknd-group.com/ >
Ps. The British have done extensive studies on 'Shale-Gas Exploration' and our concerned about #1/2) tectonic plate disturbance #2/2) subterranean ground-water aquifier contamination, and massive 100 km wide sink-holes!?
thankyou Tyler (iF OT abit... i'm sorry-- just ahead of past?)
The EIA likes to contract out for some reports. Some of these reports are way way way too optomistic. Hmmmm.....reminds me of a story by economic hitman John Perkins where private consultants in deals with certain government entities greatly exaggerated the natural resources of a country then used that as a basis for developing a rediculous financing package for the county that the country could never repay. Why invent a new soveriegn financing scheme when you already have one that still works? Tight oil/gas sounds like the new high quality collateral needed to support $1,000 trillion in new derivatives.
yep - it's peak oil time folks. the world is running out.
the only joke is the near $100 price per barrel oil - daily chart below.
http://bullandbearmash.com/chart/spot-wti-oil-daily-falls-05-top-place/
outlook for oil remains bearish.