ROCKMAN wrote:A potential FULL CAPACITY of 1,000 bbls per day of HEAVY crude oil. Why are we wasting space here discussing it? According to the EIA latest numbers Texas oil production increased 46,000 bbls per day in July. And increased 575,000 bbls per day since the first of the year.
Currently producing 4,469,000 bpd we're probably spilling at least 1,000 bbls per day on the ground every day. That would be 0.02% for the math challenged out there. LOL.
Sure, right now. But as you well know a decade ago fracked shale formations were producing a trivial percentage of the North American oil total and look how things stand now. If Utah bitumen sands pay for themselves they will grow rapidly, at least for the next 2-6 years while President Trump is encouraging development to proceed. After that, well it all depends on who gets elected and what their policies are plus the economics of the whole deal.