New Mexico and West Texas are sitting on a bonanza of potentially recoverable oil and gas reserves in the Delaware Basin that lies between the two Western states, the Department of the Interior announced Thursday.
Two underground layers in the Delaware known as the Wolfcamp Shale and Bone Spring Formation contain 46.3 billion barrels of unrecovered oil and 281 trillion cubic feet of natural gas, the DOI announced. That’s the largest oil and gas reserve the U.S. Geological Survey has ever discovered.
“Even for someone who understands the resources and potential of the Permian Basin, I can’t help
but be surprised by the sheer enormity of what the USGS has reported,” New Mexico Oil and Gas Association Executive Director Ryan Flynn told reporters.
He added: “The Permian resources shared by New Mexico and Texas make this area one of the most important places in the world in terms of oil production.” Total reserves in the Delaware Basin could be far larger than reported.
Editor: As long as we all understand that discoveries such as this, give us time, and comfortably so, to transition from a fossil fuel economy, or, at last reduce our current level of dependence. 100 years of time should do the trick, and we have 4x that amount of time . . . . but the sooner the transition, the better. Barack wanted to transition "now," and in making that decision, he threatened to bankrupt us all. With this extention of time, we have "afforability" mix into the transition.
But nothing last forever except "forever." Never forget. Our world, our Earth, will pass from the scene as well as we who live on this Earth. Tic toc, tic toc, and now you know.
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