Leave the land alone. It is far more productive to use it for fruit trees and tourism than anything that can be returned by drilling or fracking.
This is no minor issue to the USA or its' leases. There is going to be lot of movement around these new studies in DC. Lower reserves means lower value to leases. It also has to be taken into account for the USA strategic reserve. This is a very big deal.
Banks made loans based upon the return on investment.
Those investors that removed their financial exposure to petroleum stocks for moral reasons, congratulations.
Wednesday, October 7, 2015
Sacramento, CA
Orange orchard above the Monterey Shale in California
(AP) - A new study (click here) plays down the fracking potential of California's vast Monterey Shale oil deposits.
Federal energy experts in 2011 estimated the Monterey Shale formation overall to hold a staggering 14 billion barrels of recoverable oil.
A study out Tuesday by the U.S. Geological Survey is the latest to deflate those boom estimates. The new study says that the most productive part of the giant Monterey formation has just 21 million barrels of oil recoverable by fracking. That's in addition to 393 million barrels recoverable by conventional drilling.
The Monterey Shale not long ago was regarded as a game-changer in California, where Gov. Jerry Brown has resisted calls from environmentalists to ban fracking.
Kindly keep in mind the old oil estimates were conducted under a corrupted Mineral and Mining Management department. They would bump up estimates to stave off the advancement of alternative fuels while supporting the idea the USA had vast amounts of gas and oil to obtain by fracking.
That simply is not the truth. Globally Peak Oil was 2005 and if any of these bloated assessments were included in that year, then Peak Oil occurred far before 2005.
Predicting higher returns on oil investments also maintained an investment pool. If the oil was drying up, why invest?
This is no minor issue to the USA or its' leases. There is going to be lot of movement around these new studies in DC. Lower reserves means lower value to leases. It also has to be taken into account for the USA strategic reserve. This is a very big deal.
Banks made loans based upon the return on investment.
Those investors that removed their financial exposure to petroleum stocks for moral reasons, congratulations.
Wednesday, October 7, 2015Sacramento, CA
Orange orchard above the Monterey Shale in California
(AP) - A new study (click here) plays down the fracking potential of California's vast Monterey Shale oil deposits.
Federal energy experts in 2011 estimated the Monterey Shale formation overall to hold a staggering 14 billion barrels of recoverable oil.
A study out Tuesday by the U.S. Geological Survey is the latest to deflate those boom estimates. The new study says that the most productive part of the giant Monterey formation has just 21 million barrels of oil recoverable by fracking. That's in addition to 393 million barrels recoverable by conventional drilling.
The Monterey Shale not long ago was regarded as a game-changer in California, where Gov. Jerry Brown has resisted calls from environmentalists to ban fracking.
Kindly keep in mind the old oil estimates were conducted under a corrupted Mineral and Mining Management department. They would bump up estimates to stave off the advancement of alternative fuels while supporting the idea the USA had vast amounts of gas and oil to obtain by fracking.
That simply is not the truth. Globally Peak Oil was 2005 and if any of these bloated assessments were included in that year, then Peak Oil occurred far before 2005.
Predicting higher returns on oil investments also maintained an investment pool. If the oil was drying up, why invest?
