topic Nearly 1 Trillion Dollar Oil Deposit in Community Chat

Nearly 1 Trillion Dollar Oil Deposit

Kachina624 — Sun, 20 Nov 2016 23:25:22 GMT

Has been found in West Texas, the largest ever discovered in the US. Hopefully this find will make in unnecessary to consider drilling in the pristine areas of Alaska where exploration has been proposed. Midland, Texas is in the epicenter of this discovery.

Re: Nearly 1 Trillion Dollar Oil Deposit

BabyYoda — Sun, 20 Nov 2016 23:27:48 GMT

Wow that's incredible! I hope they do drill and keep prices down.

Re: Nearly 1 Trillion Dollar Oil Deposit

deepwaterdotter — Sun, 20 Nov 2016 23:33:09 GMT

"Black Gold, Texas Tea. Old Jed's a millionaire!"

Re: Nearly 1 Trillion Dollar Oil Deposit

jaxs mom — Sun, 20 Nov 2016 23:33:29 GMT

The oil industry in West Texas has been booming for awhile now.

Re: Nearly 1 Trillion Dollar Oil Deposit

Lucky Charm — Sun, 20 Nov 2016 23:37:40 GMT

I don't know anything about Texas, but I'd like to think all states are *pristine* in their own ways.

Re: Nearly 1 Trillion Dollar Oil Deposit

Mz iMac — Sun, 20 Nov 2016 23:45:48 GMT

@deepwaterdotter wrote:
"Black Gold, Texas Tea. Old Jed's a millionaire!"

The owner(s) of that land where the oil was discovered--->

Re: Nearly 1 Trillion Dollar Oil Deposit

Kachina624 — Mon, 21 Nov 2016 01:15:30 GMT

@jaxs mom wrote:
The oil industry in West Texas has been booming for awhile now.

@jaxs mom It boomed when oil was $110/barrel. They built new homes, apartments and schools like crazy. Then the price dropped and is now about $45/barrel, so buildings are sitting empty. They're all ready for another boom. Midland is a very wealthy community; out in the middle of nowhere but a nice place to live.

The land involved covers a huge area so many land owners are involved, including one from China that recently bough the lease on a large property.

Re: Nearly 1 Trillion Dollar Oil Deposit

Sooner — Mon, 21 Nov 2016 01:19:41 GMT

@jaxs mom wrote:
The oil industry in West Texas has been booming for awhile now.

Midland has been the center of things since I THINK the 1950s and the Wolfcampian has long been a prime drilling target.

I remember how afraid I was in the 1970s that we would be at the mercy of the Middle East oil fields forever. Our economy would have been ruined. Thank goodness for the roughnecks and so many others that work so hard for us!

Re: Nearly 1 Trillion Dollar Oil Deposit

Kachina624 — Mon, 21 Nov 2016 01:20:59 GMT

Heres a map of the area.

Re: Nearly 1 Trillion Dollar Oil Deposit

Noel7 — Mon, 21 Nov 2016 01:29:20 GMT

I think that's great, but we also need to keep working on alternatives to fossil fuel.

Fossil fuel won't last forever and we need a cleaner alternative.

Re: Nearly 1 Trillion Dollar Oil Deposit

Kachina624 — Mon, 21 Nov 2016 01:30:17 GMT

The area between Midland and Lubbock is flat as a pancake and just one small town where the farmers live. There are already oil and gas wells aplenty. Most of this land is now used for growing Pima cotton. It's dryland farming with no irrigation. The Southern part of this area is in the Chichihuan Desert.

Re: Nearly 1 Trillion Dollar Oil Deposit

Lila Belle — Mon, 21 Nov 2016 02:27:17 GMT

I'm hopeful the east coast won't be drilling off shore.
Glad that the president isn't going for drilling in the Arctic.

I'm hoping that this doesn't lead to us opting out from the Paris Accords.

Re: Nearly 1 Trillion Dollar Oil Deposit

jaxs mom — Mon, 21 Nov 2016 17:35:27 GMT

@Kachina624 wrote:
@jaxs mom wrote:
The oil industry in West Texas has been booming for awhile now.
@jaxs mom It boomed when oil was $110/barrel. They built new homes, apartments and schools like crazy. Then the price dropped and is now about $45/barrel, so buildings are sitting empty. They're all ready for another boom. Midland is a very wealthy community; out in the middle of nowhere but a nice place to live.

The land involved covers a huge area so many land owners are involved, including one from China that recently bough the lease on a large property.

@Kachina624 I live in West Texas and the only reason we are here is because of my husbands work in oil and gas. I'm not unfamiliar with the situation here.

Re: Nearly 1 Trillion Dollar Oil Deposit

ROMARY — Mon, 21 Nov 2016 21:16:53 GMT

It's about time, and Go Texas! We need to be self-sufficient and efficient in many areas/industries, and that's that! (jmo)

Re: Nearly 1 Trillion Dollar Oil Deposit

SilleeMee — Mon, 21 Nov 2016 22:23:47 GMT

As long as they keep finding cheap oil sources, we'll never quit using it....and we need to.

Re: Nearly 1 Trillion Dollar Oil Deposit

Puzzle Piece — Tue, 22 Nov 2016 05:05:57 GMT

I heard about this but from a Conspiracy Theory group a few years ago. Those folks can hold a bit of truth to many of their beliefs. Like - this find isn't the only one there in the southern US - there's several and there are some who know about them.

Re: Nearly 1 Trillion Dollar Oil Deposit

151949 — Tue, 22 Nov 2016 05:59:53 GMT

Where we stay in Pa is an area rich in shale gas and for the first few years we were there they were drilling like crazy all around the area. Many of the workers stayed in our campground. Many. Winter and summer. Then OPEC lowered the price of oil to try to undercut the American oil companies - and all of a sudden they stopped drilling and fracking for the shale gas.Last summerf no drillers or pipeline workers were at our camp and all the well sites and refineries were very guiet as opposed to how active they had been in the past. Oddly though they started this summer to build a huge "cracking plant" west of Pittsburgh at the site of a defunct steel plant. Just the building of it will take a few years as it is going to be huge and it will create a lot of jobs just to build then after it is up & running that will be more jobs. Those jobs are desparately needed in that area. While OPEC keeps the price of a barrell of oil downit is certainly good for us when we fill our car up but it's not the best for the American economy in general.

Re: Nearly 1 Trillion Dollar Oil Deposit

maestra — Tue, 22 Nov 2016 16:55:43 GMT

@jaxs mom

I lived in Midland TX in the late 70's and informally met w.former Pres. George Bush (younger) at a local restaurant. He wasn't married yet, but just beginning his political career locally.

Since my DH was a 'tool pusher' (well designer/chem. engineer) he had to be at the rigs so he purchased me a .22 caliber pistol for home protection in the local Eagle Foods while we were grocery shopping.

This was 1977; driving w/an open beer in the car was legal then; I recall us using a drive up liquor store to BYOB for a party we were going to.

We would drive to Big Spring to buy records for the record player and Midland opened a big movie theatre at that time also.

Re: Nearly 1 Trillion Dollar Oil Deposit

jaxs mom — Tue, 22 Nov 2016 17:12:46 GMT

@maestra We don't actually live in Midland, although he goes out there to meet with customers along with Clovis and Hobbs ect. He got transferred up here to supply oil and gas.

Re: Nearly 1 Trillion Dollar Oil Deposit

Jacie — Wed, 23 Nov 2016 15:43:09 GMT

I'm for anything that keeps us from depending on foreign oil and keeping people working in America.

Made in the USA.