Fortune Oil and Gas of Willis Texas Explains Important Info on Oil and Gas in America

Fortune Oil and Gas of Willis Texas Explains Important Info on Oil and Gas in America

AT HOME IN THE U.S, two-thirds of the energy we use is either Oil or Natural Gas. Trending higher Oil and Natural Gas fees are primarily the end result of a supply and demand imbalance , even though latest volatility has many elements of market rumours through the use of futures contractsthe inescapable fact is, the main Oil fields of the world, Saudi Arabia, Mexico among others , are in decline.

There have been very few big finds in the last 30 yrs, and those findings are dependent on consistently increased prices to warrant the elevated expense of, for example, accessing an offshore field that may require a 20,000 ft. deep drill in 10,000 ft of water.

Faced with the prospect of reduced availability and increased demand, we must vigorously increase our domestic production. The good thing is , we now have the ability to do this. The systems to discover , locate and access, undiscovered Oil and Natural Gas assets here in the United States, is better than ever. The worlds best Geologists and Geoscientists are for the most part either from the U.S.A. or were educated in the U.S.A. , we pioneered the industry and are at the forefront of the innovative developments the world relies on.

OIL like never before, is a worldwide commodity. We compete with other consuming nations, like China and India, for this fuel source. With higher competition/demand and no major new supplies, prices will rise worldwide. We also have higher prices because of supply disruption "fears" from potential hot spots in the Middle East, South America, and Russia. Worldwide spare capacity has declined considerably (from 10 million barrels everyday ten years ago to 2 million barrels each day or less today).

NATURAL GAS is our country's 2nd major energy resource (behind coal) and a crucial component of our energy supply-98% of the Natural Gas used in the United States is from North America. Domestic Natural Gas reserves are twice that of petroleum, and new discoveries of Natural Gas and continuing development of renewable biogas are continually adding to active reserves. Largely because of superior drilling technology, our reserves have doubled over the last five years and are expected to double again in

the next five. A recent study unveiled by the American Clean Skies Foundation shows that we have enough natural gas to last more than 100 years.

Natural gas is the greenest transportation fuel in widespread use today. According to the California Energy Commission, greenhouse gas emissions from natural gas are 23% lower than diesel and 30% lower than gasoline. Natural Gas is a clean-burning, preferred fuel choice that powers most new homes and buildings, as well as power plants. But government policies have been inconsistent. Policymakers and environmentalists have customarily encouraged Natural Gas use because it was clean burning and plentiful in the U.S. But , until very recently, the exact same groups have discouraged the pursuit and production of new domestic gas supplies. This paradox creates another supply-demand imbalance. The increase in Natural Gas demand isn't met with supplies. Thus, prices rise.

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