USA now #1 oil producer

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Johnsell50
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USA now #1 oil producer

Post by Johnsell50 » Fri Jan 04, 2019 4:34 pm

Sorry I took the other thread off topic but as of about a month ago we became the #1 oil producer in the world.
here is a leftover from the other thread.
Johnsell50 wrote: ↑
Fri Jan 04, 2019 2:13 am
US still has massive underground reserves of non-shale oil they are just developing. New fields just found that are supposed to be larger than Arab countries just in Texas.
Again, source? I did read they found additional reserve in the Permian Basin region, and somewhat large but nothing near the magnitude of what you seem to have read.

Either way I wouldn't put much stock in such oil exploration announcements. Could be shady people trying to spur investment and increase land prices. Brazil reported massive offshore oil reserves long ago that have yet to materialize and so has Cambodia. Some formations cost well over $100 a barrel to extract.

Sources:

https://oilprice.com/Energy/Energy-Gene ... Basin.html
https://seekingalpha.com/article/418626 ... ounts-2020
https://www.oilandgas360.com/two-new-re ... -in-texas/
https://www.cnbc.com/2016/07/05/us-oil- ... ussia.html

And to answer the other question of why Germany should buy oil and natural gas from the USA instead of Russia is because if they become dependent on Russia for such a necessary item it could cost them in the future. Better to buy from an ally.
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Kammekor
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Re: USA now #1 oil producer

Post by Kammekor » Fri Jan 04, 2019 4:42 pm

Johnsell50 wrote:
Fri Jan 04, 2019 4:34 pm
And to answer the other question of why Germany should buy oil and natural gas from the USA instead of Russia is because if they become dependent on Russia for such a necessary item it could cost them in the future. Better to buy from an ally.
You must be joking. Transporting all the natural gas Germany needs across the Atlantic? Really?
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John Bingham
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Re: USA now #1 oil producer

Post by John Bingham » Fri Jan 04, 2019 4:46 pm

Johnsell50 wrote:
Fri Jan 04, 2019 4:34 pm
Better to buy from an ally.
Lying and making up crime statistics is not something allies do.
Image

https://www.theguardian.com/us-news/201 ... f-russians

Kammekor wrote:
Fri Jan 04, 2019 4:42 pm
Transporting all the natural gas Germany needs across the Atlantic? Really?
This guy knows about as much about pipelines as he knows about fence construction. :lol:
Johnsell50
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Re: USA now #1 oil producer

Post by Johnsell50 » Fri Jan 04, 2019 4:55 pm

Kammekor wrote:
Fri Jan 04, 2019 4:42 pm
Johnsell50 wrote:
Fri Jan 04, 2019 4:34 pm
And to answer the other question of why Germany should buy oil and natural gas from the USA instead of Russia is because if they become dependent on Russia for such a necessary item it could cost them in the future. Better to buy from an ally.
You must be joking. Transporting all the natural gas Germany needs across the Atlantic? Really?
https://foreignpolicy.com/2017/06/08/fi ... to-poland/
https://slate.com/business/2016/03/amer ... toric.html
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Re: USA now #1 oil producer

Post by clutchcargo » Fri Jan 04, 2019 5:16 pm

It's not just about amount of oil reserves but how cost effective it is to extract.

I recall reading that shale oil in the US that has to be fracked is only cost effective up to a certain oil price point. So the now the price is low so OK but if it rises, then it's not economic.

These new fields in the US sound like non shale tho..however, are they easy to extract?

Also those offshore Brazilian oil assets are apparently at very deep ocean depths and will require considerable investment and technology to extract...and probably not until the price of oil is much much higher.
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Kammekor
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Re: USA now #1 oil producer

Post by Kammekor » Fri Jan 04, 2019 5:18 pm

Johnsell50 wrote:
Fri Jan 04, 2019 4:55 pm
Kammekor wrote:
Fri Jan 04, 2019 4:42 pm
Johnsell50 wrote:
Fri Jan 04, 2019 4:34 pm
And to answer the other question of why Germany should buy oil and natural gas from the USA instead of Russia is because if they become dependent on Russia for such a necessary item it could cost them in the future. Better to buy from an ally.
You must be joking. Transporting all the natural gas Germany needs across the Atlantic? Really?
https://foreignpolicy.com/2017/06/08/fi ... to-poland/
https://slate.com/business/2016/03/amer ... toric.html
The links you posted do not really offer a solution to the problem of transporting HUGE amounts of natural gas over the Atlantic, to be honest....

Another issue is right now in Europe the USA is being reconsidered as an ally.
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Re: USA now #1 oil producer

Post by clutchcargo » Fri Jan 04, 2019 5:28 pm

This is how Australians transport LNG to customers in Japan, Sth Korean and China but also requires huge investment in processing plants at point of extraction..

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Re: USA now #1 oil producer

Post by Duncan » Fri Jan 04, 2019 5:41 pm

Lets be clear of what we are talking about. Correct me if I'm wrong.

When your talking about natural gas, your talking about gas that comes straight out of the ground and is a mixture of several types of gas which can be broken down to their own classification and is usually kept under pressure. CNG

If it is broken down to its separate gasses ,Nitrogen, CO2 etc,, the Propane and butane gas separated can be cooled and compressed and is sold as LPG.

For it to be transported over long distances, eg, Australia to Japan , natural gas has to be cooled to ??? degrees and compressed to get it to a liquid state. LNG.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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clutchcargo
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Re: USA now #1 oil producer

Post by clutchcargo » Fri Jan 04, 2019 5:47 pm

Duncan wrote:
Fri Jan 04, 2019 5:41 pm
Lets be clear of what we are talking about. Correct me if I'm wrong.

When your talking about natural gas, your talking about gas that comes straight out of the ground and is a mixture of several types of gas which can be broken down to their own classification and is usually kept under pressure. CNG

If it is broken down to its separate gasses ,Nitrogen, CO2 etc,, the Propane and butane gas separated can be cooled and compressed and is sold as LPG.

For it to be transported over long distances, eg, Australia to Japan , natural gas has to be cooled to ??? degrees and compressed to get it to a liquid state. LNG.
Yep, I'm no expert on this but if you want to transport across the Atlantic, and reduce bulk..it would have to be cooled into liquid form. Special processing plants to do that plus the ships to carry it and presumably some way to transfer it at the arrival port..
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Re: USA now #1 oil producer

Post by Duncan » Fri Jan 04, 2019 5:53 pm

clutchcargo wrote:
Fri Jan 04, 2019 5:47 pm
Duncan wrote:
Fri Jan 04, 2019 5:41 pm
Lets be clear of what we are talking about. Correct me if I'm wrong.

When your talking about natural gas, your talking about gas that comes straight out of the ground and is a mixture of several types of gas which can be broken down to their own classification and is usually kept under pressure. CNG

If it is broken down to its separate gasses ,Nitrogen, CO2 etc,, the Propane and butane gas separated can be cooled and compressed and is sold as LPG.

For it to be transported over long distances, eg, Australia to Japan , natural gas has to be cooled to ??? degrees and compressed to get it to a liquid state. LNG.
Yep, I'm no expert on this but if you want to transport across the Atlantic, and reduce bulk..it would have to be cooled into liquid form. Special processing plants to do that plus the ships to carry it and presumably some way to transfer it at the arrival port..



Transferred from ship to onshore storage all under the same conditions.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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