{"id":26090,"date":"2016-11-17T05:30:13","date_gmt":"2016-11-17T10:30:13","guid":{"rendered":"http:\/\/admin.patheos.com\/blogs\/geneveith\/?p=26090"},"modified":"2016-11-17T02:47:04","modified_gmt":"2016-11-17T07:47:04","slug":"vast-oil-deposit-discovered-in-texas","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/","title":{"rendered":"Vast oil deposit discovered in Texas"},"content":{"rendered":"\n<\/head>

Geologists have found a site in the Permian Basin in Texas that holds some 20 billion barrels of oil. \u00a0The entire area may hold 75 billion barrels, making it the largest unconventional deposit in the United States, and the second in the world, next only to the Ghawar field in Saudi Arabia.<\/p>\n

The oil is\u00a0in shale and will take fracking. \u00a0This will bother some people. \u00a0Does it bother you, or do you see this discovery\u00a0as a big economic shot in the arm for the country?
\n<\/p>\n

From\u00a0Shale oil in Permian\u2019s Wolfcamp formation called biggest field in U.S. | The Star-Telegram<\/a>:<\/em><\/p>\n

In a troubled oil world, the Permian Basin is the gift that keeps on giving.<\/p>\n

One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That\u2019s almost three times larger than North Dakota\u2019s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.<\/p>\n

\n

The estimate lends credence to the assertion from Pioneer Natural Resources CEO Scott Sheffield that the Permian\u2019s shale could hold as much as 75 billion barrels, making it second only to Saudi Arabia\u2019s Ghawar field. Irving-based Pioneer has been increasing its production targets all year as drilling in the Wolfcamp produced bigger gushers than the company\u2019s engineers and geologists forecast.<\/p>\n

\u201cThe fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,\u201d Walter Guidroz, coordinator for the geological survey\u2019s energy resources program, said in the statement.<\/p>\n

[Keep reading. . .]\u00a0<\/a><\/em><\/div>\n\n<\/div>\n<\/blockquote><\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

Geologists have found a site in the Permian Basin in Texas that holds some 20 billion barrels of oil. \u00a0The entire area may hold 75 billion barrels, making it the largest unconventional deposit in the United States, and the second in the world, next only to the Ghawar field in Saudi Arabia. The oil is\u00a0in […]<\/p>\n","protected":false},"author":1281,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,44],"tags":[4948,4947],"class_list":["post-26090","post","type-post","status-publish","format-standard","hentry","category-economics","category-technology","tag-oil-deposits","tag-oil-industry"],"yoast_head":"\nVast oil deposit discovered in Texas<\/title>\n<meta name=\"description\" content=\"Geologists have found a site in the Permian Basin in Texas that holds some 20 billion barrels of oil. \u00a0The entire area may hold 75 billion barrels, making\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vast oil deposit discovered in Texas\" \/>\n<meta property=\"og:description\" content=\"Geologists have found a site in the Permian Basin in Texas that holds some 20 billion barrels of oil. \u00a0The entire area may hold 75 billion barrels, making\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/\" \/>\n<meta property=\"og:site_name\" content=\"Cranach\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/cranachblog\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-17T10:30:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-11-17T07:47:04+00:00\" \/>\n<meta name=\"author\" content=\"Gene Veith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gene Veith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/\",\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/\",\"name\":\"Vast oil deposit discovered in Texas\",\"isPartOf\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#website\"},\"datePublished\":\"2016-11-17T10:30:13+00:00\",\"dateModified\":\"2016-11-17T07:47:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1\"},\"description\":\"Geologists have found a site in the Permian Basin in Texas that holds some 20 billion barrels of oil. \u00a0The entire area may hold 75 billion barrels, making\",\"breadcrumb\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2016\/11\/vast-oil-deposit-discovered-in-texas\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vast oil deposit discovered in Texas\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#website\",\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/\",\"name\":\"Cranach\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1\",\"name\":\"Gene Veith\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g\",\"caption\":\"Gene Veith\"},\"description\":\"Gene Edward Veith, Jr. is a writer and retired literature professor, serving as Provost Emeritus at Patrick Henry College. 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