subject: Fortune Oil and Gas of Willis Texas Reveals Useful Facts on Oil and Gas in America [print this page] Fortune Oil and Gas of Willis Texas Reveals Useful Facts on Oil and Gas in America
AT HOME IN THE U.S, two-thirds of the energy we benefit from is either Oil or Natural Gas. Trending higher Oil and Natural Gas fees are mostly a result of a demand and supply difference , although the latest volatility has many parts of market rumours through the use of futures contractsthe inescapable fact is, the major Oil fields of the world, Saudi Arabia, Mexico as well as others , are in decline.
We have seen few big finds in the last 30 yrs, and the discoveries are reliant on consistently increased prices to warrant the elevated expense of, as an example, accessing an offshore field that may require a 20,000 ft. deep drill in 10,000 ft of water.
Confronted with the prospect of diminished availability and greater demand, we must strenuously increase our domestic production. Luckily for us , we have the opportunity to do this. The science 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 typically 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 designs the world relies on.
OIL like never before, is a worldwide commodity. We vie with various other consuming nations, like China and India, for this fuel source. With increased 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 significantly (from 10 million barrels on a daily basis ten years ago to 2 million barrels a day or less today).
NATURAL GAS is our country's next greatest energy resource (behind coal) and a significant 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 ongoing development of renewable biogas are continually adding to present reserves. Mainly due to much better drilling technology, our reserves have doubled over the last five years and are expected to double again in
the next five. A recent study presented by the American Clean Skies Foundation indicates that we have enough natural gas to last more than 100 years.
Natural gas is the most clean 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 historically 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.
