The world biggest IPO is coming

[Jobster]

Originally Posted by IDtheftV

This is a nice try, but totally mixed up.

There IS NO DIFFERENCE between tight oil and shale rock oil. They are the same thing.

It is also ALL rock. Traditional vertical wells drill through rock.

Tight oil exists ALL OVER the world. US shale deposits will outlive you and who knows how much of it is in countries that are members of OPEC(?)

US technology ( again ) has turned a business on its head. Oil production is now MINING. We know where it is, ow much is there and what it takes to get at it.

The biggest thing you missed is that this not only applies to tight oil, but tight gas.

You also didn't mention the massive increases in carbon emissions that will result from the world's further continuing reliance on fossil fuels. It's going to happen. What is the world going to do about it?

Oh yeah. The US is also the technology leader in electric cars, solar energy, and wind energy. .... Surprise! .... NOT. These are all SOURCES of oil/gas. Every bbl/CCF NOT consumed is the same as one produced.

Sigh.

No they're not.

To get tight oil out, you pump it out with water and it rises to the top. You can't do that with shale rock. It's not the same.

Please read this or be ignorant. It's your choice. I'm not trying to do anything.

Setting the Record Straight on U.S. Oil Reserves

Shale oil and tight oil | Econbrowser

Oil shale — sedimentary rock that contains solid hydrocarbons called kerogen (e.g., Green River Formation)

Shale oil — the oil that can be obtained by cooking kerogen

Tight oil — liquid hydrocarbons that are obtained by hydraulic fracturing of shale formations (e.g., Bakken Formation and Eagle Ford Formation)

The Bakken Formation is already in decline.

[C2BP]

Originally Posted by Jobster

It probably means they have depleted their reserves, so it's a cash grab before the music stops.

Saudi Arabia is not running out of oil anytime soon. Your kids will grow up and read this and speculation Saudi Arabia is hitting peak production and say no duh. Saudi Arabia is diversifying their economy, not rapidly expanding their pumping, and most telling trying to privatize their oil company. Sure you will not see a drop in reserves until they get someone else to hold the pigeon. These are pretty clear signs. Saudis are smart and don't want to drain more that they already are of what they should see as a limited commodity.

So why do they pump so much still in a low priced environment? They need the money to support their economy and support the lavish lifestyles of the people and the people in power. They also don't like to weaken their already diminished control over oil. And last, they don't want to scare more buyers into buying Iran's oil.

[oregonwoodsmoke]

Let's see... do I want to give any of my money to the government of Saudi Arabia?

Probably not.

[IDtheftV]

Originally Posted by Jobster

Sigh.

Sigh all you want to, it doesn't make you correct.

Originally Posted by Jobster

No they're not.

Yes they are.

Originally Posted by Jobster

Please read this or be ignorant. It's your choice.

It's more like read this AND be ignorant.
Setting the Record Straight on U.S. Oil ReservesYour link does NOT show the bakken to be in decline. The chart show clearly shows a production rate going UP and to the RIGHT.

It would really help if you would learn to correctly interpret your incorrect cite.

The defining characteristic is that the rock is not sufficiently porose or permeable to allow oil to flow out if all you do is drill a hole into the formation.

The hole [sic] point of the technological feat of horizontal drilling *AND* fracking is to turn previously unresponsive deposits into production.

The Bakken was discovered in the early '50s, but every well just petered out. The "Bakken" also includes other shale/tight oil deposits called the Three Forks, which include three tight layers as well as other lesser, but significant fields ( ie. The Tyler ).

To say the US is "running" out, is like saying that Brazil is running out. Brazil's oil might be "nothing" at $50/bbl and 100 B bbls at $100.

There are hundreds of billions of bbls of oil in the ND/MT/SK deposits. Even if only 3% is recoverable, that's significant. Every time technology is developed that allows another 1%, that's huge.

Also horiz drilling and fracking technology can be applied to old and traditional fields to squeeze another 2% or 12% or whatever .... out of them.

When this technology gets applied to the countries in the Middle East, there are a number of countries that are likely to be "Trillion bbl plays."

Originally Posted by Jobster

The Bakken Formation is already in decline.

Again, not according to your cite.

< sigh! >

The world is awash in oil/gas. Now, what are we going to do about it? It's both good and bad, in that it encourages bigger vehicles and engines and more ouput of C.

With cheaper prices, it becomes relatively painless to improve our roads, bridges, and infrastructure and mass transit. I'm not saying I'm hopeful, but it COULD be worked-on.

[shanv3]

Originally Posted by IDtheftV

Back in the early '70s, the assets of Aramco were created when the Saudi's nationalized ( stole ) the equipment ( private oil company assets ) being used at that time to produce oil.

All that stuff is in their country and they can make any confiscatory rules they want on the fly.

The reason for the IPO is the failure of the assets to pay for the lavish social programs. The only difference between Aramco and Petróleos de Venezuela is the ratio of population to oil production.

No thanks.

Stole from who ? British?? Pay back time may be??

[IDtheftV]

Originally Posted by shanv3

Stole from who ? British?? Pay back time may be??

Western countries oil company oil assets.

ie: Exxon - US
.... BP ----- British
.... Shell -- Dutch . . . . and so on.

If it's in their country, it belongs to them. ( "them" = OPEC member nations )
( Hugo/Venezuela just got done doing this trick recently. )

The largest oil refinery in the US - Motiva is "owned" by Saudi Aramco. ( Just sayin' )