US Leads the World in Oil Reserves : Ofcourse this would be fake news to some folks because they will deny the shale reserves HAHA!

The U.S. currently holds the title of global leader in recoverable oil resources, according to the latest annual report of world recoverable oil resources by energy research firm Rystad Energy.

With 293 billion barrels of recoverable oil resources, the U.S. beats out both Saudi Arabia and Russia by 20 billion barrels and 100 billion barrels, respectively.

Rystad’s estimates of U.S. recoverable oil is also five times more than reported proven reserves published in the BP Statistical Review of World Energy 2019.

According to Rystad analysis, the Permian’s tight oil plays hold 100 billion barrels of recoverable oil resources and the resources there remain largely flat from the previous year. Improvements in well configuration plays a part in this.

“We also note that production has not been fully replaced by increased reserves in some U.S. shale plays, including Eagle Ford in Texas and Utica in Ohio,” Rystad Energy CEO Jarand Rystad said in a release “Oil companies have been focusing on core development and cash flows rather than exploration and de-risking non-core assets.”

Using the standard of the Society of Petroleum Engineers (SPE) when estimating reserves and resources in fields in order to consistently compare OPEC and non-OPEC countries as well as conventional and unconventional fields, Rystad estimates the world’s proven oil reserves to total 386 billion barrels.

“Official reserves reporting from Saudi Arabia indicates an upwards revision of 10 percent, but we don’t see increases in activity that would justify such a large upgrade, so this revision could be due to changes in reporting methodology,” said Per Magnus Nysveen, Rystad’s head of analysis. “The 20 percent revision to official U.S. reserves, on the other hand, is due to higher reserves reported by the operators and is based on more stringent rules from the U.S. Security Exchange Commission.”

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The oil reserves are actually much, much higher than that.  Oil is contained, albeit in different from, in coal, and the US has vast reserves of coal.  All coal can be transformed easily enough into oil, and oil products including diesel, gasoline, and jetfuel. The stuff that comes from coal conversion is much cleaner than from crude, burns better,and has higher octane and cetane.  For example, diesel from oil has a typical cetane rating of 42.  The cetane from coal is 75.  That is huge. 

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10 minutes ago, Jan van Eck said:

The oil reserves are actually much, much higher than that.  Oil is contained, albeit in different from, in coal, and the US has vast reserves of coal.  All coal can be transformed easily enough into oil, and oil products including diesel, gasoline, and jetfuel. The stuff that comes from coal conversion is much cleaner than from crude, burns better,and has higher octane and cetane.  For example, diesel from oil has a typical cetane rating of 42.  The cetane from coal is 75.  That is huge. 

Coal is another source of cleaner burning hard and liquid and gaseous fuels.

Many years ago I had funded/acquired a technology from a chem engineer who worked for a mining company and invested further to develop the tech. Over the last several  years, I revived that potential tech and funded the development of pilot plants to run and upgrade coal as well as CTL options. After many many pilot plants that worked but needed refinements and adjustments etc , we are at a stage of putting up 1000MT/day coal processing and upgrading plants in a few States in the US and in October/Nov. will have an official press release and coverage that will include visits from DOE officials and perhaps some key US lawmakers and industry groups/execs and some of our JV groups plus coal power plant owners/operators etc.

We have clean burning fuels, gasoline, diesel, some petchem feedstocks and clean stream of water and separate stream of heavy metals and sulphur etc in segregated collection streams. The dry coal products are 97% solid fuel pellets with essentially no contaminating emissions.

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12 minutes ago, ceo_energemsier said:

We have clean burning fuels, gasoline, diesel, some petchem feedstocks and clean stream of water and separate stream of heavy metals and sulphur etc in segregated collection streams. The dry coal products are 97% solid fuel pellets with essentially no contaminating emissions.

That is seriously great stuff!  Congratulations!

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1 minute ago, Jan van Eck said:

That is seriously great stuff!  Congratulations!

I am hopeful that it will solve a lot of problems, releasing a valuable cheaper cleaner energy source, creating a supply of fuels domestically and globally, retaining jobs and creating more good paying long term  jobs and cleaning up the environment and keep the emissions down.

Wont be getting involved in operating coal mines but will be providing a service to coal producers, power plant owners/operators to upgrade the coal and to generate the liquids fuels and feedstocks and doing licensing deals.

The coal miners will have to follow enhanced mining protocols to mine better and in a much more cleaner way and maintaining the priority of a better environment around their mines and operating areas, minimise any impacts as much as possible.

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10 minutes ago, ceo_energemsier said:

I am hopeful that it will solve a lot of problems, releasing a valuable cheaper cleaner energy source, creating a supply of fuels domestically and globally, retaining jobs and creating more good paying long term  jobs and cleaning up the environment and keep the emissions down.

I view that as a certainty. 

It should also make your business a ton of cash, which is always nice! :D

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6 minutes ago, Jan van Eck said:

I view that as a certainty. 

It should also make your business a ton of cash, which is always nice! :D

Well, that is a very good stream of product to come into my pockets LOL :D

I have 3 JVs signed up for upgrading coal for power plants and developing a stand alone CTL plant with a daily conversion of upto 50,000bpd . We started from the lab for a couple of ML of coal to liquids then to a few litres a day then progressed to 10 bpd and 50 till we reached a 500bpd rate and from there it went to 5,000bpd.

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14 minutes ago, ceo_energemsier said:

Well, that is a very good stream of product to come into my pockets LOL :D

I have 3 JVs signed up for upgrading coal for power plants and developing a stand alone CTL plant with a daily conversion of upto 50,000bpd . We started from the lab for a couple of ML of coal to liquids then to a few litres a day then progressed to 10 bpd and 50 till we reached a 500bpd rate and from there it went to 5,000bpd.

That is great work!  Kudos to your team, for jobs well done!

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US to become net oil exporter in November: EIA

Imports projected to meet 8% of US demand this year

US net oil exports to average 550,000 b/d in 2020

The US will become a net oil exporter for the first time on a monthly basis in November, with crude and refined product exports exceeding imports by 220,000 b/d, the Energy Information Administration said Tuesday.

 

EIA sees the US continuing to be a net oil importer on an annual basis in 2019, with imports exceeding exports by an average of 620,000 b/d. Then the US will flip to annual net exporter in 2020, with exports exceeding imports by 550,000 b/d.

The US snagged the net oil exporter title for all of one week last November, driven by a surge of 3.2 million b/d in crude exports that pushed crude and product exports above 9 million b/d, according to S&P Global Platts Analytics.

The growth of the Gulf Coast refining sector made the US a net exporter of refined products in 2011. Rising crude exports since 2015 have made the overall net oil exporter status possible.

Still, US crude imports will continue to exceed crude exports by 4.43 million b/d in 2019 and 4.4 million b/d in 2020, EIA said.

IMPORT RELIANCE PLUMMETS

EIA's Annual Energy Outlook 2019 predicted in January that foreign oil would meet just 7.5% of US demand this year.

A decade ago, EIA forecast in its 2009 AEO that foreign crude would meet 44% of US demand in 2020. Imports met 60% of US consumption in 2006 and were projected to fall to 50% by 2010, according to the 2009 report. That was before the US tight oil revolution got underway in earnest.

EIA's projections have accelerated as US oil production growth keeps beating expectations.

Even just two years ago, EIA's 2017 AEO forecast the US remaining a net importer through 2050, with foreign oil meeting 17.7% of national consumption that year. Last year's AEO predicted the US would gain net exporter status in 2029 - nine years later than the current forecast.

President Donald Trump praised the net oil exporter milestone in his State of the Union speech to Congress in February, albeit before it actually happens.

"The United States is now the number one producer of oil and natural gas anywhere in the world. And now, for the first time in 65 years, we are a net exporter of energy," Trump said at the time.

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2 hours ago, ceo_energemsier said:

The U.S. currently holds the title of global leader in recoverable oil resources, according to the latest annual report of world recoverable oil resources by energy research firm Rystad Energy.

With 293 billion barrels of recoverable oil resources, the U.S. beats out both Saudi Arabia and Russia by 20 billion barrels and 100 billion barrels, respectively.

Rystad’s estimates of U.S. recoverable oil is also five times more than reported proven reserves published in the BP Statistical Review of World Energy 2019.

According to Rystad analysis, the Permian’s tight oil plays hold 100 billion barrels of recoverable oil resources and the resources there remain largely flat from the previous year. Improvements in well configuration plays a part in this.

“We also note that production has not been fully replaced by increased reserves in some U.S. shale plays, including Eagle Ford in Texas and Utica in Ohio,” Rystad Energy CEO Jarand Rystad said in a release “Oil companies have been focusing on core development and cash flows rather than exploration and de-risking non-core assets.”

Using the standard of the Society of Petroleum Engineers (SPE) when estimating reserves and resources in fields in order to consistently compare OPEC and non-OPEC countries as well as conventional and unconventional fields, Rystad estimates the world’s proven oil reserves to total 386 billion barrels.

“Official reserves reporting from Saudi Arabia indicates an upwards revision of 10 percent, but we don’t see increases in activity that would justify such a large upgrade, so this revision could be due to changes in reporting methodology,” said Per Magnus Nysveen, Rystad’s head of analysis. “The 20 percent revision to official U.S. reserves, on the other hand, is due to higher reserves reported by the operators and is based on more stringent rules from the U.S. Security Exchange Commission.”

This seems to be ignoring Venezuela's massive deposits!

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28 minutes ago, ronwagn said:

This seems to be ignoring Venezuela's massive deposits!

I believe, Venezuela was some where around 297 billion barrels and that was sometime in 2013? Since then they havent found more oil reserves nor have replaced much . And as of today, Venezuela's billions of barrels mean nothing to  the world's energy supply and security and stability when all that oil is stuck in the ground and the country is in a deadly downward spiral.

Again I dont believe Venezuela had added any significant new reserves since 2013.

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3 minutes ago, ceo_energemsier said:

I believe, Venezuela was some where around 297 billion barrels and that was sometime in 2013? Since then they havent found more oil reserves nor have replaced much . And as of today, Venezuela's billions of barrels mean nothing to  the world's energy supply and security and stability when all that oil is stuck in the ground and the country is in a deadly downward spiral.

Again I dont believe Venezuela had added any significant new reserves since 2013.

https://www.worldatlas.com/articles/the-world-s-largest-oil-reserves-by-country.html

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37 minutes ago, Jan van Eck said:

That is great work!  Kudos to your team, for jobs well done!

Thanks , they will all be even happier when they started getting their profit sharing payments!!! :D

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(edited)

2 hours ago, Jan van Eck said:

The oil reserves are actually much, much higher than that.  Oil is contained, albeit in different from, in coal, and the US has vast reserves of coal.  All coal can be transformed easily enough into oil, and oil products including diesel, gasoline, and jetfuel. The stuff that comes from coal conversion is much cleaner than from crude, burns better,and has higher octane and cetane.  For example, diesel from oil has a typical cetane rating of 42.  The cetane from coal is 75.  That is huge. 

What waste is left? Coal waste has been a well reported problem lately. It often ends up in rivers and groundwater. 

Edited by ronwagn

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4 minutes ago, ronwagn said:

What waste is left? Coal waste has been a well reported problem lately. It often ends up in rivers and groundwater. 

There should not be any.  It is a chemical conversion, not thermal or mechanical.

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1 minute ago, Jan van Eck said:

There should not be any.  It is a chemical conversion, not thermal or mechanical.

That would entail using pure carbon wouldn't it? It must be processed first, leaving tailings right?

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10 minutes ago, ronwagn said:

That would entail using pure carbon wouldn't it? It must be processed first, leaving tailings right?

Apparently not.  There is no record of SASOIL operations leaving tailings piles. 

Even if there were, any leftovers would be valuable products that would be sold, 

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22 minutes ago, ronwagn said:

What waste is left? Coal waste has been a well reported problem lately. It often ends up in rivers and groundwater. 

We are not dealing with fly ash and coal slurry

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14 minutes ago, ronwagn said:

That would entail using pure carbon wouldn't it? It must be processed first, leaving tailings right?

There are no tailings left behind, no chemical and toxic soup ponds, all other separated heavy metals , sulphur and other components found in the coal chunks are removed and collected and sold off to different industries. The solvents and majority of the chemicals used are recycled and put back into the next cycle of CTL and or coal upgrading.

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2 hours ago, ceo_energemsier said:

There are no tailings left behind, no chemical and toxic soup ponds, all other separated heavy metals , sulphur and other components found in the coal chunks are removed and collected and sold off to different industries. The solvents and majority of the chemicals used are recycled and put back into the next cycle of CTL and or coal upgrading.

I know how to upgrade coal, but you need a hydrogen source to turn carbon into a hydrocarbon. Are you getting it from methane? 

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