America the Bountiful

April 4, 2019

 

I love this satellite thing. Click on the image  and it will give you a time lapse realization of how much associated gas flaring from shale oil wells has grown in the good 'ol US of A, the land of plenty, in the past seven years. Once you click on the image, zero in on the Eagle Ford, Permian Basin and Bakken and watch how the Permian has exploded with flared gas in the past 2 years. 

 

Remember, there are laws against this sort of thing. In Texas, anyway. They are simply not enforced.  Too much money and too many "votes" are tied to many great paying jobs. We have to waste associated gas, perhaps now as much as 1.5 BCF of gas per day in Texas alone, so that America can export nearly 3 MM barrels of oil per day to Asia. All of this is being done... on credit, by the way. 

 

Just 8 years ago we had such a shortage of natural gas in America that the price was over $12 per MMBTU at Henry Hub. 

Now days, at WAHA Hub in West Texas, the price of natural gas is wandering back and forth from a negative $3.00 per MMBTU to even -$9.00 per MMBTU. 

 

We're the greatest industrialized nation the world has ever known, those shale oil dudes have been bragging about how many drillable locations they have in inventory for five years... and we're flaring gas like we live in Siberia. 

 

Giddy up, America ! 

 

 

 

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