peppercorn wrote:C5, ... bad news for the author of that prediction, Out of the blue comes this news that knocks the narrative off the rails....20 billion barrels found right in Texas, true its shale oil, but unlike North Dakota shale oil, this formation is contiguous..way easier/cheaper to extract than the separate pools in North Dakoda.... They say economical to extract starting at 60 per barrel. http://www.cnn.com/2016/11/17/us/midlan ... index.html
and found with over 1.6 billion barrels of natural gas! In Texas of all places, That's like finding oil in Nisku.
Are you trying to punk me? Was this just to draw me out? Well I was thinking of chatting about it anyhow. I take it you are talking about the Wolf Camp play. Can you say Ponzi scheme? Confidence game? As they say, You cant con an honest man. The wolf camp play was already known. Nothing was just DISCOVERED here. Someone is looking for desperate gullible investors.
Since we started this post quoting Cassandras Legacy, here is some appropriate reading- Peak Oil in a Fact-Free World: the New "Oil Bonanza" in West Texas - http://cassandralegacy.blogspot.ca/2016 ... w-oil.html
Since we have CL up, This one has been getting around- Tiffany's fallacy: the mineral pie is shrinking, and most of what's left is in the sky - http://cassandralegacy.blogspot.ca/2016 ... ie-is.html
This was put out by The Hills Group, themselves, themselves, in response- "Yes, the magic words; “technically recoverable”. "- https://srsroccoreport.com/the-hills-gr ... l-deposit/
And for those still not understanding the concept of EROEI, THG dumbs it down- https://srsroccoreport.com/the-hills-gr ... depletion/
The EROEI narrative is now out of the bag and lots of people are now on this. This person explains it way better.
E is for EROEI - http://22billionenergyslaves.blogspot.c ... eroei.html
"Note, however, that EROEI has nothing to do with money. Getting EROEI mixed up with EROI (Energy Return on Investment) is a common mistake. One deals with the immutable laws of physics and the other deals with the infinitely manipulable world of finance - and only one of these sets of conditions is negotiable"
In the couple months since posting this, the narrative of EROEI has made a lot more of modern history make sense than any other narrative. There is absolutely NOTHING that Berni Trump can do to Make America Socially Great Again. That tank is empty.