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  1. #11

    Angry Some more stuff

    I can remember back in the 70's (yea, I'm showing my age) when the doomsayers were lamenting the fact of how wasteful us "poor" people were. These doomsayers were driving Cads and Lincolns then. What a bunch of you know whats? I'm sick and tire of listening to a bunch of enviromentalists going around telling me how messy my house is when their own envirs ain't any better than mine. As far as Bush is concern, he did try the Alaska route, it's part of the record in Congress, and kind of failed in the attempt. At least he did try which is better than Clinton did (he was too busy in the oval office having some fun with Moncia).
    As far as having 37 different blends within the United States, I guess that speaks for itself. With California being the worse, you have so call enviromentalists running the state governments (with a few in National office) and this is what happens when they run amok.
    Are the oil companies making a killing on us consumers? You bet!!!! If we are stupid enough to have 37 different blends of fuel in one country, then nail it to us for doing so by passing stupid laws demanding the oil companies comply with state regulations.
    Enough of the political horse pucky, hopefully people are going to realize what a mess this all is and increase the refineries that are here. 20 years ago there was over 300 refineries running and today there is only about 150 running. Increase demand for fuel and cutting refining capacity is a recipe for diaster. Again this can be tied directly to the enviromentalist who wanted to close refineries for the sake of us idiots who do not know any better. Bullhocky.

  2. #12

    Default Wildcatter Strikes 1 Billion Barrel Oil Field in Central Utah

    Well, here you go...............this sounds kinda like:

    Come and listen to a story about a man named Jed
    A poor mountaineer, barely kept his family fed,
    Then one day he was shootin at some food,
    And up through the ground came a bubblin' crude.

    Oil that is, black gold, Texas tea.

    Well the first thing you know ol' Jed's a millionaire,
    Kinfolk said Jed move away from there
    Said Californy is the place you ought to be
    So they loaded up the truck and moved to Beverly.

    Hills, that is.
    Swimmin pools, movie stars.

    The Beverly Hillbillies!

    Wildcatter Strikes 1 Billion Barrel Oil Field in Central Utah

    By Paul Foy The Associated Press
    Published: May 4, 2005

    SALT LAKE CITY (AP) - A tiny oil company has snapped up leasing rights to a half-million acres in central Utah that it says could yield a billion barrels or more of oil.

    Geologists are calling it a spectacular find - the largest onshore discovery in at least 30 years, located in a region of complex geology long abandoned for exploration by major oil companies. It's turning out to contain high-quality oil already commanding a premium at refineries.

    With the secret out, industry players expect a bidding war to break out at the next Utah leasing auction, set for May 17 in Salt Lake City.

    At today's prices the oil reserve could bring Utah $5.6 billion in royalties, state auditors conservatively estimate. Although the discovery is still playing out, the oil will take years to recover and some skeptics question the company's projections for a region yet to be fully surveyed.

    "It's just very highly unlikely because the U.S. onshore has been picked clean, if you will," said Fadel Gheit, senior oil analyst at Oppenheimer & Co. in New York.

    "That's like finding a wallet in the subway after all the cleaners went through it. It's possible, but very highly unlikely," he said.

    Gov. Jon Huntsman said he was aware of the discovery "and we are tracking the progress with great interest. If the prospects prove to be true, it will be important that the resources are developed responsibly."

    The discovery is playing out just outside Sigurd, Utah, more than 100 miles from any of Utah's other major oil fields and 45 miles from the nearest operating well.

    The find, 130 miles south of Salt Lake City, was made by Wolverine Gas & Oil Corp., a privately held company with just 25 employees improbably located in Grand Rapids, Mich.

    Wolverine's test well hit "pay" in late 2003, and by May 2004 it started producing from a single deposit estimated to contain 100 million to 200 million barrels of oil.

    Wolverine and government geologists said the company is examining 25 deposits in all that could contain 1 billion barrels of oil.

    Those underground deposits are widely scattered over a crescent-shaped belt 100 miles long and up to 50 miles wide that contains all the geologic "right stuff" for oil pockets in folds of Jurassic Navajo sandstone, said Tom Chidsey, petroleum section chief for the Utah Geological Survey.

    If Wolverine could produce 1 billion barrels at once, it could satisfy the nation's demand for about 45 days - less than the reserve that Congress may open at the Arctic National Wildlife Refuge, which by equally speculative estimates may contain 10 billion barrels of oil.

    Chidsey said Wolverine's discovery could dwarf Utah's last major find, the still-producing Pineview field overlapping the Wyoming border. That field, tapped in 1975, has produced 31 million barrels and may contain another 100 million barrels, he said.

    Oil companies began exploring central Utah more than 50 years ago without success, even though it's part of an oil-producing belt thrust ranging from Mexico to Alaska. The complex geology of central Utah produced only dry wells - 58 of them in the past 25 years.

    In 1999, Wolverine bought Chevron's leasing rights and seismic data and started poking around itself, bouncing seismic waves more than 5,000 feet deep. With just two wells operating at full capacity now, Wolverine is pumping 1,500 barrels of oil a day from the ground and trucking it to Salt Lake refineries.

    "The secret's out and we will face competition" at the next BLM auction, said Doug Strickland, a geologist for Wolverine. "We had a year and three months to ourselves."

    The BLM will auction 300,000 acres throughout Utah. Acres that Wolverine once picked up for $10 are now being valued at $1,200 in central Utah. Leasing rights are good for five years and as long as a well is producing.

    Oil companies pay 12.5 percent of the value of oil taken from federal lands - and half of that comes back to Utah, which shares some of it with local governments, said Steve Schneider, audit manager for the Utah Division of Oil, Gas & Mining.

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