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More oil production in TX
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More oil production in TX

  #1 (permalink)
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More oil production in TX

Here is a very recent article about the Eagle Ford Shale area in south Texas. Fundamentals point to oil prices staying where they are or drifting lower for the foreseeable future...

Wood Mackenzie says Eagle Ford Shale output to reach 2 million barrels per day - San Antonio Business Journal

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  #3 (permalink)
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Amazing chart...
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All credit to www.fundamentalanalytics.com who produce this research

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Almost 70% increase in 5 years! Wow.

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I am surprised CL hasn't dropped already. I wonder if specs will not allow it to drop.

Here is North America supply
http://omrpublic.iea.org/world/wb_nasup.pdf

Here is world supply.
http://omrpublic.iea.org/world/wb_wosup.pdf

The gains for the world supply look to be only the increase in North America supply.

I wonder if fracking can/will be done in rest of world and what the supply will be then.

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ron99 View Post
Almost 70% increase in 5 years! Wow.

I wonder if fracking can/will be done in rest of world and what the supply will be then.

there is nothing unique to fracking in North America. The technology is still new and still needs a lot of work in development to make it a safe sustainable method of resource development.

To me Fracking is a trojan horse as it is performed today. What is the major requirement for Fracking....water...and lots of it. If you look at the goings on in any fracking operation the biggest activity is the trucking of fresh water to and disposal of used water from the site. Each well requires millions of liters of fresh water per year....water that after it is used (albeit reused) becomes so contaminated that it must be disposed of some how.

Tell me...Is the USA rich in fresh water??? Can it afford long term to be a water waster?? I don't think so

That is the trojan horse in this scenario....

As to fracking around the world here is a chart showing known reserves of Shale oil.

there is no shortage of potential shale oil basins world wide. There is special technology to exploit the areas such as horizontal drilling rigs of which North America leads in developing but those rigs and technology will be spread around the world soon enough through Canadian and American oil companies.



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Underexposed View Post
Tell me...Is the USA rich in fresh water??? Can it afford long term to be a water waster?? I don't think so

Enron were at least 20 years to early on this but I personally think water trading is coming.

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SMCJB View Post
Enron were at least 20 years to early on this but I personally think water trading is coming.

well, there have been proposals on diverting Canadian rivers into the USA to feed the need there...and speaking as a Canadian....that is not going to happen in my lifetime.

water issues have been at the forefront of USA/Canada discussions for a long time. But Canada is not an endless source of fresh water. IF the global rise in temperature continues then a major source of water for western Canada will slowly disappear.... that is the glaciers of the Canadian Rockies.

Glacier National Park on the Canadian/USA border is an oxymoron in name. There are NO glaciers there any more.

And it is happening to glaciers on the Canadian side as well. Here are pictures of the famous Columbia Icefields - Athabasca Glacier which is the most accessible.

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this glacier was at the highway in the 1940's...you can see a thin walking trail to the toe of that glacier. Here is a picture I took looking back toward the information center for a different perspective. An interesting aspect to the hike along that trail is the markers that show where the toe of the glacier was as the years progress.

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I visit this site about every 5 years or so taking visitors here and it amazes me as to how much more of the glacier has disappeared each time.

That water supply from this and other glaciers in the Canadian Rockies feeds 4 provinces...it is adequate for our needs now but not forever....you only have to see the draw down of the Great Lakes to understand that.

then we have the issue of contamination of Canada's freshwater fish resources by allowing competitive species from the USA into our waters by diverting Canadian rivers south.

No, other than bottled water...there will not be trade in water for a long time if ever.

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  #8 (permalink)
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Underexposed View Post
No, other than bottled water...there will not be trade in water for a long time if ever.

Getting a little off topic here but there's lots of people in the US who wish we could redistribute our own water

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Or even worse last year...
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