Massive oil discovery in Alaska is biggest onshore find in 30 years


#1

Massive oil discovery in Alaska is biggest onshore find in 30 years
by Matt Egan
March 10, 2017: 11:45 AM ET

Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades.

The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices.

The new discovery was made in just the past few days in Alaska’s North Slope, which was previously viewed as an aging oil basin.
Spanish oil giant Repsol (REPYY) and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day.

Huge oil discovery in Alaska. Enviros hardest hit!


#2

Looking at your pic Pete I am going to guess you are not a newbie. In my college days late 60’s and early 70’s it was: Global Cooling and "Peak Oil. The Oil crises of '74 had the Peak Oil (PO) folks jumping for joy and confirming that it was ALL down hill from there, we were out of oil for sure and by the 80’s it will be pedal power for most.

Fact was we were never out of oil, and not out now. Been quite but a BIG field has been discovered in the Permian Basin just recently, its a Fracking play.

And let me add (from my friends in the oil business who go back more than one generation): All the oil plays in Texas DO NOT STOP at the Rio Grande. But Mexico does not have the ability to drill below 9000 ft. IF and when Mexico ever gets smart Mexico may possibly have the worlds largest petrol deposits below 9000 ft…


#3

I was in high school when the Enviros were hitting their stride (“In the year 2525 …”). They built their scare-frauds on assumptions that everything had been discovered, and that there would be no technological advances in oil extraction, agricultural production, etc., etc. And it was the Ehrlichmann scare-fraud prediction of mass famines that proved to me that the Enviros were more agenda than science: Watermelonians.


#4

Just like IBM once declared that there would never be any use for more that 5 computers in the world . . .


#5

And watch the enviros try to litigate this to death. Their hope is at the end of four or eight years to get the U.S. exactly as it was on January 20, 2017 @ 11:59 a.m.


#6

Is this in the massive ANWAR (sp?) refuge that the leftists prevented the fuelists from drilling?

I created that word, “Fuelists.” I won’t charge you to use it.


#7

Yes, the Enviros will try to obstruct, but it’s on state land (not Federal, not offshore), and on the North Slope where wells have been operating (not nearby, obviously) some for 4 decades. Between all those factors and changes happening in Interior and the EPA, obstruction attempts could be short-lived and unsuccessful (and bad PR with the general public).


#8

Now that is FUNNY, don’t care what your thinking is…

Great move on Alaska’s part paying each citizen a annual amount of $ as their share of the oil revenue. This gives people a stake holder role when they get a check and makes the very supportive.

The enviros are true nut jobs. They have been anti Petrol as least as far back as the 60’s that I know of. Some of their ideas are so goofy that make no sense…such as putting wind sails on cars! I remember when I first heard that, I asked the question how do you get the car moving if you were at a stop light…they had no answer.


#9

Most excellent.


#10

In the mid 19th century there were scientists predicting that big cities were doomed since at their rate of growth there wouldn’t be enough room for all the horse drawn wagons needed to collect and haul away all the horse manure in the streets which they also contributed to. The big cities were destined to be buried in an exponentially growing pile of manure. Come to think about it, maybe they were correct, just got the dates wrong.


#11

Are you sure they meant horse manure?


#12

Yes.


#13

[MENTION=1653]JBG[/MENTION]'s “confusion” is understandable. The streets of Washington, DC have been almost horse-free for many decades, but the city is still buried in horse manure. :ranger: