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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: KyrosL who wrote (96417)	8/18/2008 9:22:40 PM
From: Keith Feral	Read Replies (1) of 110194

Here was an interesting article about world oil production, including conventional and unconventional deposits. It brought back to mind that Canadian oil sands are not even considered oil deposits, they have to be listed as mining deposits even though it accounts for 2/3's of Canandial oil production in Alberta. en.wikipedia.org I think that peak oil is a bit far fetched given the potential for unconventional reserves like oil sands and oil shale. Conoco can't even include oil sands into their replacement reserves. If we tap into OCS reserves, we could boost US production for the next 50 years by 3 mbd without even fracturing the oil shale to get to the oil. I'm struggling to get some idea of how much oil is beneath the oil shale vs. how much oil is in the oil shale. Why not just burn the shale with coal to produce all the oil that we need? The US is in a very odd spot of having more undeveloped sources of energy than any other country in the world, even if they are unconventional. Thankfully, the oil and gas companies have used the lastest super spike in nat gas prices over the past 2 years to drill wells for nat gas. Beyond that, the oil and gas can recover as much oil as the we need. I don't know, it just doesn't seem too difficult to imagine the US being able to produce 6 mbd of oil from our own resources from OCS and Shale. That would eliminate 50% of the 12 mbp of oil that we are importing. If Canada can make oil from oil sands, I don't know why we can't do the same thing from shale. Really, we could become energy dependent if we absolutely had to with cars that ran at least 30 to 40 mpg. We should really try to come up with a North America fuel group between Cananda, Mexico and the US to achieve total energy independence. We really don't need to go out of NA to get all the energy we need. It was interesting to see that Brazil or Venezuela were not included in the linked report.

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