Garrett County and Natural Gas - Risks and Benefits

A selection of categorized links to allow one to assess the risks and benefits of gas development in Garrett Conty.

Garrett County Montage

Oil

Many Marcellus Shale wells produce oil, which is the most desirable product because of its energy density.

- 1596 - [March 27, 2015] - Bakken.com, Jonathan Fahey | The Associated Press - "Oil council: Shale won’t last, Arctic drilling needed now"
"The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study to be released Friday.
The U.S. has drastically cut imports and transformed itself into the world’s biggest producer of oil and natural gas by tapping huge reserves in shale rock formations. But the government predicts that the shale boom won’t last much beyond the next decade."
- 1800 - [September 12, 2012] - Crude Oil Peak, MATT - "US shale oil hype"
"The media are full of reports – quoting the recently published World Energy Outlook of the International Energy Agency (IEA) – about an energy revolution in the US, which is going to change global oil and gas markets. In this article, we look at shale oil only."
- 1836 - [September 2, 2013] - Forbes, Nathan Vardi - "What Saudi Arabia Has Bought For $50 Billion In Its Oil War"
"In October of 2014, Saudi Arabia signaled that it was willing to let oil prices fall and no longer cut production to support higher prices. Since that time Saudi Arabia has spent nearly $50 billion of its foreign reserves to keep its domestic social contract going in the face of diminishing oil revenues.
The oil kingdom has put its money where its mouth is in an effort to protect market share and get both OPEC and non-OPEC members to limit oil production."
- 1840 - [NA] - Bakken.com, Zach Koppang | Shale Plays Media - "Update: ND town evacuated after oil train explosion"
"Wednesday morning at around 7:30 a.m. a portion of a 109-car oil train derailed near a small North Dakota town in Wells County, resulting in large fire involving numerous tank cars, prompting the evacuation of Heimdal and the surrounding area.
The Burlington Northern Sante Fe train hauling Bakken crude went off the tracks about two miles outside the unincorporated community. As of the 2010 census, Heimdal, located between Harvey and New Rockford, had a population of 27. The town is currently home to about 40 people."
- 1895 - [September 2014] - Bakken.com, John Kemp | Reuters - "How do you lose 100 million barrels of oil?"
"Oil-market watchers are struggling to reconcile the large estimated oversupply in the market with the much smaller buildup of reported inventories and narrowing contango in futures prices.
Some blame the barrel counters who compile official statistics on supply, demand and stocks. But the truth is that information on the world oil market is incomplete and it is easy for hundreds of millions of barrels of oil to disappear from the supply chain without being counted.
According to the three main statistical agencies, the global market has been oversupplied by between 1.5 million and 2.5 million barrels per day (bpd) since the start of the year."