US State Utah Could See Mini Oil Boom As Company Seeks To Change Industry

[Economy 52,837]

https://oilprice.com/Energy/Oil-Prices/Clean-Oil-That-Only-Costs-20.html

 

Utah has the largest Oil Sands reserves in the US at 30 Billion Barrels (article was unclear if that is in place reserves or recoverable reserves)...

 

Anyway, due to cost and environmental opposition, operations in Utah's Oil Sands have been small but an Oil Company with some stakes there has experimented with new technology that barely produces waste while simultaneously it produces oil at a cheaper price than before

 

Utah could see it's oil production increase if this success lives up to the hype as the companies new technology would not only reduce environmental opposition but also lower cost constrains

[Economy 52,837]

@Woolfsmck

 

Welcome to the oil sands club... At 30 Billion Barrels I believe that would make the US the 3rd largest Oil Sands holder in the world

 

Send that new technology here. It would help with Alberta's 75 Million Megatones a year of pollution from Oil 

 

Edit: ok so it's in place reserves not recoverable reserves. But it's still a lot of oil

 

Heavy Oil like this is good to mix with ultra light tight oil that comes from shale. It makes it easier to refine

[LateToCult 41,827]

The good sis @Economy showing the world not all of us are just walking holes,but intelligent and opinionated citizens.  

OT: I highly doubt the new technology is as great as they make it out to be but it’ll help them sell their pitch.

[weed 78,870]

55 minutes ago, Economy said:

At 30 Billion Barrels I believe that would make the US the 3rd largest Oil Sands holder in the world

If that’s just Utah wouldn’t the US have more oil elsewhere?

[samuelx 1,309]

ahh yes my state

[Economy 52,837]

6 hours ago, neptugne said:

If that’s just Utah wouldn’t the US have more oil elsewhere?

I searched it up online cuz this article didn't specifiy. 30 Billion is the in place reserves not the proven or recoverable reserves. Proven reserves is only 6.3 Billion barrels so it's not as huge as I thought. Still enough to grow an industry

 

Canada's Oil Sands by comparison has 1.7 Trillion in place reserves with 170 Billion recoverable reserves

 

But the US does have a fairly high amount of oil yes. Most of it in shale especially in the Permian in Texas

 

[Woolfsmck 2,763]

17 hours ago, Economy said:

https://oilprice.com/Energy/Oil-Prices/Clean-Oil-That-Only-Costs-20.html

 

Utah has the largest Oil Sands reserves in the US at 30 Billion Barrels (article was unclear if that is in place reserves or recoverable reserves)...

 

Anyway, due to cost and environmental opposition, operations in Utah's Oil Sands have been small but an Oil Company with some stakes there has experimented with new technology that barely produces waste while simultaneously it produces oil at a cheaper price than before

 

Utah could see it's oil production increase if this success lives up to the hype as the companies new technology would not only reduce environmental opposition but also lower cost constrains

When it comes to oil company exex’s,,,,, “lower production cost” is the only thing they will see,,,,they could’nt care less about environmental impact.

[Economy 52,837]

1 hour ago, Woolfsmck said:

When it comes to oil company exex’s,,,,, “lower production cost” is the only thing they will see,,,,they could’nt care less about environmental impact.

I think they care in the sense that it gives them less backlash and opposition if their operations are seen as cleaner than before

[Woolfsmck 2,763]

2 hours ago, Economy said:

I think they care in the sense that it gives them less backlash and opposition if their operations are seen as cleaner than before

Maybe some of the newer ones who have a sense of public opinion