Wanna see a miracle?
Wanna see an absolute miracle? Take a look at the figure below:
If you've never been in the oil business you probably don't understand why this is absolutely astonishing. I can help you with that.
As should be obvious, when you produce oil from the rock that contains it, less remains to BE produced. As a result, in every oil well ever drilled, production rapidly falls from its initial peak.
Of course as more wells are drilled, production rises, but at some point total production peaks and then starts to decline. And production from that "field" never recovers. Cuz most of the oil has already been brought to the surface. Obvious.
Total U.S. production peaked back in 1970. Huge new oil discoveries in the Gulf of Mexico slowed the decline but couldn't reverse it.
But as the graph shows, around 2009 oil production started climbing again. And now it's tied with our nation's all-time high. And this summer we're expected to set a new record.
So how did this happen? A few independent oilmen--folks who owned their own companies--bet their fortunes on a different way of doing things. All private money. The federal government didn't contribute a single dollar to help with the testing.
The new approach was able to squeeze "commercial amounts" of oil--amounts large enough to make a profit after the huge expense of drilling and "completing" a well--from rocks that had never produced before. As a result, areas that had been written off as non-commercial were suddenly "prospective" again--i.e. were back in the list of possible oil reservoirs.
Hundreds of independents pioneered the new approach, and the major oil companies eventually followed suit. Soon thousands of wells had been drilled using the new approach, and total production began to rise again.
A decade from now--if not sooner--idiot Democrats and communists will note that the up-turn in total production came in 2009 or so, and since Obozo the First was emperor, he must have made this happen, with one of his infamous, unconstitutional decrees, like DACA. Had to be, right? Cuz as he infamously put it, "You didn't make that!" Meaning that in his insane world-view, private business is powerless and can't do anything without government help.
Yeah, right.
But in fact the oilmen didn't get massive government (i.e. taxpayer-) subsidies. In fact they didn't get so much as a single dollar. No pencil-neck government bureaucrats--Hahvahd grads--issued decrees on what approach was to be used, or what crony-connected company would win massive, lucrative wasteful government contracts. (Google "Solyndra" to see how Obama did it--if the communists at google haven't scrubbed it.)
The entire technology and development was funded with private risk-dollars.
This is one of the hundreds of reasons why free markets and capitalism kick socialist ass.
Remember this the next time some socialist asshole tries to tell you that we need government-run health care. It's a disaster. But Nancy and Chuck and Kamala Harris (God forbid) and Lieawatha (the idiot senator from Massachusetts who lied about being native American to get hired as a "minority faculty member" at Hahvahd) will keep pushing for the gruberment to take over all health care.
It'll work just as well as Obamacare has.
So let's hear from the idiot emperor himself, who ridiculed the idea that drilling would help. Yes, ridiculed. Said the idea to drill for more energy was stupid. (This would be in response to Sarah Palin's slogan "Drill, baby, drill.") Of course if you're a college student you can't possibly believe the man touted by the Lying Media as the smartest guy ever to be presidennt would say that, right? Well take a look:
Didja hear the idiots in the college audience (U. of Miami) applaud his contemptuous, deprecating, ridiculing lines? If not, go back and listen again.
He certainly knew his audience. But he's still a socialist idiot.
Let him who has ears, hear.
If you've never been in the oil business you probably don't understand why this is absolutely astonishing. I can help you with that.
As should be obvious, when you produce oil from the rock that contains it, less remains to BE produced. As a result, in every oil well ever drilled, production rapidly falls from its initial peak.
Of course as more wells are drilled, production rises, but at some point total production peaks and then starts to decline. And production from that "field" never recovers. Cuz most of the oil has already been brought to the surface. Obvious.
Total U.S. production peaked back in 1970. Huge new oil discoveries in the Gulf of Mexico slowed the decline but couldn't reverse it.
But as the graph shows, around 2009 oil production started climbing again. And now it's tied with our nation's all-time high. And this summer we're expected to set a new record.
So how did this happen? A few independent oilmen--folks who owned their own companies--bet their fortunes on a different way of doing things. All private money. The federal government didn't contribute a single dollar to help with the testing.
The new approach was able to squeeze "commercial amounts" of oil--amounts large enough to make a profit after the huge expense of drilling and "completing" a well--from rocks that had never produced before. As a result, areas that had been written off as non-commercial were suddenly "prospective" again--i.e. were back in the list of possible oil reservoirs.
Hundreds of independents pioneered the new approach, and the major oil companies eventually followed suit. Soon thousands of wells had been drilled using the new approach, and total production began to rise again.
A decade from now--if not sooner--idiot Democrats and communists will note that the up-turn in total production came in 2009 or so, and since Obozo the First was emperor, he must have made this happen, with one of his infamous, unconstitutional decrees, like DACA. Had to be, right? Cuz as he infamously put it, "You didn't make that!" Meaning that in his insane world-view, private business is powerless and can't do anything without government help.
Yeah, right.
But in fact the oilmen didn't get massive government (i.e. taxpayer-) subsidies. In fact they didn't get so much as a single dollar. No pencil-neck government bureaucrats--Hahvahd grads--issued decrees on what approach was to be used, or what crony-connected company would win massive, lucrative wasteful government contracts. (Google "Solyndra" to see how Obama did it--if the communists at google haven't scrubbed it.)
The entire technology and development was funded with private risk-dollars.
This is one of the hundreds of reasons why free markets and capitalism kick socialist ass.
Remember this the next time some socialist asshole tries to tell you that we need government-run health care. It's a disaster. But Nancy and Chuck and Kamala Harris (God forbid) and Lieawatha (the idiot senator from Massachusetts who lied about being native American to get hired as a "minority faculty member" at Hahvahd) will keep pushing for the gruberment to take over all health care.
It'll work just as well as Obamacare has.
So let's hear from the idiot emperor himself, who ridiculed the idea that drilling would help. Yes, ridiculed. Said the idea to drill for more energy was stupid. (This would be in response to Sarah Palin's slogan "Drill, baby, drill.") Of course if you're a college student you can't possibly believe the man touted by the Lying Media as the smartest guy ever to be presidennt would say that, right? Well take a look:
Didja hear the idiots in the college audience (U. of Miami) applaud his contemptuous, deprecating, ridiculing lines? If not, go back and listen again.
He certainly knew his audience. But he's still a socialist idiot.
Let him who has ears, hear.
posted by SF at
6:37 PM
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