Carrying over from islandboy’s EIA thread:
From post above:
TRUMP PROPOSES VAST EXPANSION OF OFFSHORE DRILLING
(Zinke) “This is a start on looking at American energy dominance,”
Regardless of emotional reaction to this announcement, I am skeptical of its viability.
My skeptical mind tells me, when all else fails, look at the numbers. The numbers per MMS chart on Wikipedia:
Undiscovered technically-recoverable oil resources on the outer continental shelf, 2006:
Washington/Oregon – 0.4Bbo
Nor Cal – 2.08 Bbo
Central Cal – 2.31 Bbo
So Cal – 5.74 Bbo
All Atlantic + east FL – 3.84 Bbo
GOM – 44.92 Bbo
North Slope – 23.6 Bbo
Alaska less NS – 3.0 Bbo
Total 85.88 Bbo
I conclude that most of the “new” oil unleashed by this stunning decision is in the GOM and and the North slope, both of which are well-known by the industry and which have been open to Federal leases in the past. After Shell’s bad experience, oil will take a much higher price to get any bids for the NS and for the GOM, this is just BAU. The Atlantic and Pacific Coasts don’t have enough resource to be worth exploring, much less leasing.
OK, there are some sharp oil people here on the forum and I’m just a dumb HVAC engineer. Help me. Am I missing something? Are they actually going for the natural gas, and is it worth going after?