Scott, they are not capturing much of the ND gas because 1) production has ramped up very quickly; 2) many drill sites are scattered and remote, making running pipeline cost prohibitive, especially at current prices. There are some pilot programs underway to reuse the gas onsite to power equipment or to capture it in pressurized container trucks for transport to a gas processing plant. But much more needs to be done.
He might be talking about exports. The U.S. is now a net exporter of nat gas. Soon we will be exporting NGLs through new terminals.
We are still a net importer of crude.
A lot of this has to do with the supply/demand imbalance between nat gas and oil. Even though nat gas is more plentiful we still consume more of our energy via crude.
Heinrich may be looking at old data - the 2008 bp study he cited included numbers from 2006. US dependence on foreign oil only reversed in 2005, so the picture looks different today.
Yea, obviously. That is not what Heinrich said. What he said was: "The global economic impact of fracking in the US is due almost entirely to natural gas production." and that needs clarification because I do not know what he is trying to say.
@Noreen
Nat Gas is a byproduct of fracking for oil. More oil = more gas. Right now they are flaring a lot of the gas but over time they capture more of it. This has contributed to the collapse in natural gas prices.
What I'm interested in knowing is why you think fracking is correlated more with nat gas than oil.
The data's out there. The 20 million b/d consumption figure is from the 2008 BP study. FT reports current OPEC output at 31.85 million b/d, here's an recent look at . US regulatory actions vis-a-vis OPEC.
Fanfare always kicks over the skeptic in me, a healthy amount hopefully.
Re: Solar and oil
Phoenix
5/25/2012 2:02:07 AM
It would be interesting to see how this solar and oil 'relationship' plays out. The lights and security cams are a good starting point and it looks like it is going to be a good supporting industry at present. If more solar based supporting equipment gets invented to cater to the varying demands in the harsh territory we might just have another booming industry in hand.
Heinrich,
Niot sure where you are getting your data. The Bakken is an oil play, and the field with the most extensive use of hydraulic fracturing. There is some associated gas, but ND, as I stated, is primarily oil.
And six figures is just ND.
Add that to Texas, which has a field production of crude oil of 1.72 million barrels of crude oil per day in February, 2012, and all the other states with oil production.
By the way, if you had any doubts which way the energy industry is leaning in the Presidential election, this should dispel any doubt.
Continental Resources CEO Harold Hamm, whose company is a leader in the use of horizontal drilling in North Dakota, led a panel discussion today. His speech was basically three words: a directiive to everyone in attendance to "Beat Barack Obama."
Hamm, who is also Republican presidential front-runner Mitt Romney's energy committee chairman, called Obama's energy policy a failure.
So now you know.
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