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Thread: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    If oil shale was viable USA would have exploited it some 50 years ago and till today it's not viable.

    Scientists’ best estimates of the Energy Return on Investment (EROI) of oil shale suggest it is very inefficient compared to conventional fuel and emits up to 75% more greenhouse gases (GHGs. However, differences in the way energy efficiency is calculated can cause confusion over its potential use, according to the US study.
    Fully accounting for all energy used is also vital in assessing GHG emissions. Emissions from oil shale, which result from the direct energy input and as a product of the extraction reaction, are estimated to be 1.25 -1.75 times higher than for conventional crude oil. Oil shale production also requires large amounts of land and up to three barrels of water per barrel of oil produced. These environmental costs together with the low EROI lead the researchers to conclude that, although the energy accounting process needs rigourous review, there is little economic or environmental incentive to use oil shale as a fuel source.
    http://ec.europa.eu/environment/inte...pdf/276na3.pdf

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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by RDS View Post
    If oil shale was viable USA would have exploited it some 50 years ago and till today it's not viable.

    http://ec.europa.eu/environment/inte...pdf/276na3.pdf
    Oil Shale and Shale Oil are emphatically not the same thing. The current boom in production stems from exploiting the vast amounts of Light Tight Oil (LTO) that is locked up in shale but can be released by hydraulic fracturing methods along with gas. Oil Shale is not really oil at all but Kerogen that must be extracted and then heated up to produce longer carbon chain molecules such as among other things crude oil, it may be possible to extract and utilize these resources one day bit it is not commercial yet.

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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by Harshaw View Post
    If it isn't regulated out of existence.
    That my friends is the trick. I am in the oil industry you would think at the prices we are seeing per barrel that we would be pumping like mad. Not so much everything has pretty much shut down because of the election and hasnt picked up. I am hoping it picks up in the new year. We will see. My customers have to deal with the like of California and the EPA. That is not pleasent or cheap. I sincerly dont know whats going to happen.
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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by RDS View Post
    If oil shale was viable USA would have exploited it some 50 years ago and till today it's not viable.
    1.You left off/didn't even quote my reply which gutted yours in all it's absurd aspects.

    2. Many things weren't "viable" 50 years ago because of Price and Technique.
    People used to laugh at Canada's Oil sands 30 years ago.. now a thriving business.

    There's NO question Shale Fracking IS viable economically and has ALREADY exploded in usage.
    How Ridiculous to bring up 50 years ago (oil was $18) and say if it wasn't viable then it isn't now.
    Last edited by mbig; 11-15-12 at 04:04 AM.
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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by mbig View Post
    If it is regulated because fracking is truly untenable.. so be it.
    But that isn't the case now.

    GAS PRICES FACT: Domestic Oil Production Has Soared Under President Obama | ThinkProgress

    Here in NY we haven't allowed fracking yet, despite the boom in PA next door, as the Gov/Govt is concerned about the NYC watershed.
    There may be some areas like that where it is more problematic, but overall, probably not. To be seen.

    France has outlawed Fracking.
    That was in Feb this year when they wrote that article my understanding is that a large percentage of rigs in North Dakota have been stacked out as well as were I am. That started about September.
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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by tererun View Post
    This is not overly new at all. It was somewhere around 1990 when i heard about it for the first time. Technically there is a lot of oil locked up in shale rock. It is also costly to get and fracking is not the great idea some claim it to be. If the technology is improved it may be far more efficient, but it still seems to have problems. It pollutes local water tables with chemicals. It is destructive to the rock formations and may increase the likelihood of earthquakes. The water issue is obviously a problem for farming areas that rely on wells that could be polluted by the process. The eathquake thing would cause it to be problematic in areas with faults or potential underground magma flows. It's long term effects have not been studied very much. I just have a general mistrust of oil companies doing the safe and proper thing, for example BP who dumped millions of gallons of crude into the gulf because they disregarded safety, then forced people to help clean up the oil without safety equipment if they wanted recovery money, and then said bacteria ate up all the oil only to have it washing up on gulf shores after hurricane isaac this year. These are the people we are going to give license to explosively jam hazardous chemicals into rock that contains our drinking water?

    I know no one is going to stop the quest for oil until we are all covered in black cancerous sores, but it might be nice if we stopped letting our greed get the better of us and did something like make sure it is safe and not let the modern oil dip****s anywhere near the process. Oh well, the impact in thirty or so years is really not my problem anyway. Enjoy your cancer kiddies it is the gift your loving caring greedy lazy fat ass parents are giving you. All because they don't want to pay extra to drive their 2 MPG hummer to the store to buy a coffee.
    You are so ignorant of the facts that to try to correct you would be pointless. You havent bothered to even know rudimentery facts so the only point I am going to make is you are so uneducated to them as you make yourself look foolish at best. I would suggest actually going to wikipedia to at least get a rudimentry understanding of what you are talking about, because as of now, you have absolutely NO clue.
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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by mbig View Post
    1.You left off/didn't even quote my reply which gutted yours in all it's absurd aspects.

    2. Many things weren't "viable" 50 years ago because of Price and Technique.
    People used to laugh at Canada's Oil sands 30 years ago.. now a thriving business.

    There's NO question Shale Fracking IS viable economically and has ALREADY exploded in usage.
    How Ridiculous to bring up 50 years ago (oil was $18) and say if it wasn't viable then it isn't now.
    The fracking tecnique does open up new fields. It is used a lot more however in existing fields to further enhance production of holes that are already drilled, and in new holes in those fields.
    Semper Fidelis, Semper Liber.
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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by Sherman123 View Post
    Oil Shale and Shale Oil are emphatically not the same thing. The current boom in production stems from exploiting the vast amounts of Light Tight Oil (LTO) that is locked up in shale but can be released by hydraulic fracturing methods along with gas. Oil Shale is not really oil at all but Kerogen that must be extracted and then heated up to produce longer carbon chain molecules such as among other things crude oil, it may be possible to extract and utilize these resources one day bit it is not commercial yet.
    That is good clarification on your part but I like to add further. The boom is about the oil shale and not shale oil.

    There has been some confusion lately about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to be produced if the Obama Administration will simply stop blocking development. So, I thought it might be a good idea to elaborate somewhat on the issue.

    Oil production has been increasing in the U.S., primarily driven by expanding production from the Bakken Shale Formation in North Dakota and the Eagle Ford Shale in Texas. The oil that is being produced from these shale formations is sometimes improperly referred to as shale oil. When politicians speak of hundreds of billions or trillions of barrels of U.S. oil, they are most likely talking about the oil shale in the Green River Formation in Colorado, Utah, and Wyoming. Some have assumed that since we are accessing the shale in North Dakota and Texas, the Green River Formation and its roughly 2 trillion barrels of oil resources will be developed next. But these are very different types of resources.
    Setting the Record Straight on U.S. Oil Reserves | Robert Rapier | FINANCIAL SENSE

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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by PirateMk1 View Post
    The fracking tecnique does open up new fields. It is used a lot more however in existing fields to further enhance production of holes that are already drilled, and in new holes in those fields.
    Depends on how you define “a lot more”. It is better to just characterize it as something that is very common. Fracking has been used in wells, new and existing, for several decades. However new techniques and processes have been developed and refined that allow production in formations that just weren’t economically feasible before.

    A decade ago this was coal bed methane, for example, where the NG is being extracted from seams of coal. More recently NG from shale, such as the Marcellus Shale formation that extends through large portions of coal country in the Appalachians. Now this shale oil is the next big hit coming up. All of these “unconventional” wells (and frankly, even a serious number of traditional “conventional” holes for some time now) they would never be drilled and put into production without fracking.
    Last edited by Dwight; 11-15-12 at 11:06 AM.

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    Re: Shale Boom to Turn U.S. Into World's Largest Oil Producer, Watchdog Says

    Quote Originally Posted by Sherman123 View Post
    Just to be clear, shale oil and oil shale are emphatically NOT the same thing. Oil shale which you are talking about refers to the kerogen that is locked up in shale rock which if extracted can then be heated up to release crude oil among other things. Whereas shale oil is a byproduct of exploiting hydrofracking methods in shale deposits which releases light tight oil (LTO) that already exists in the shale but could not previously be accessed.

    In other words...

    Oil Shale=Kerogen in rock that can be heated up to produce oil.

    Shale Oil=Oil that is already present in shale and which innovative extraction methods like hydrofracking can release.
    *two thumbs up*

    This is a huge, important distinction. Oil shale has some serious production issues yet to overcome, not the least of which is water requirements.

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