T.Boone Pickens talks energy

westbranch · May 2013

there are 2 video clips to watch here.
1, the Milken Institute and
the second over on the right. Solar and wind are mentioned in the second 1/2 of it in a discussion period.

Very INFORMATIVE

Enjoy

http://www.pickensplan.com/boonecam/2013/05/21/t-boone-pickens-at-the-2013-milken-institute-global-energy-conference/

waynefromnscanada · May 2013

Re: T.Boone Pickens talks energy

VERY interesting. This is a very smart guy!

solarvic · May 2013

Re: T.Boone Pickens talks energy

We don,t need any oil from Saudi The USA has more oil than we can use. It is estimated that there is more shale oil in Eastetrn ohio, and western Pennsylvania that Saudi has. So why are we sending our money to all the countrys that hate us? Between what oil Canada and Usa have we don,t need anyone elses oil. I am not against the pipeline from Canada but I don,t see why it needs to go to texas and lousiana And then send the refined gasoline back north to the northern states. Why not have some of the refinerys located in the north of usa to be refined and used in that area. Trouble now most of the refinerys are in the south and any weather event is a good reason to raise prices for gasoline. I think the southern refinerys can process the oil from the Gulf and that area and the northern refinerys can refine northern canadian and us oil. :Dsolarvic:D

ggunn · May 2013

Re: T.Boone Pickens talks energy

solarvic wrote: »

We don,t need any oil from Saudi The USA has more oil than we can use. It is estimated that there is more shale oil in Eastetrn ohio, and western Pennsylvania that Saudi has. So why are we sending our money to all the countrys that hate us? Between what oil Canada and Usa have we don,t need anyone elses oil. I am not against the pipeline from Canada but I don,t see why it needs to go to texas and lousiana And then send the refined gasoline back north to the northern states. Why not have some of the refinerys located in the north of usa to be refined and used in that area. Trouble now most of the refinerys are in the south and any weather event is a good reason to raise prices for gasoline. I think the southern refinerys can process the oil from the Gulf and that area and the northern refinerys can refine northern canadian and us oil. :Dsolarvic:D

There are at least a couple of reasons we buy oil from the Middle East. One is that whatever shale oil that exists in North America is bound up in rock and is far more expensive to extract and refine than is liquid oil in pools where all you have to do is drill a hole into it and it squirts out of the ground. Do you want to pay $20/gallon for gasoline? $50/gallon?

Another may be a long term strategy where we use up all of theirs first.

Understand as well that underground reserves of shale oil are a lot harder to estimate than are liquid oil reserves because the seismic signature of oil bearing shale is so similar to that of the surrounding rock. Some folks claim that we have staggeringly huge reserves of the stuff, but there is no way to know for sure until it is produced; there very well may be less (a LOT less) than these optimistic scenarios predict.

But of course the irony is not lost on me that when US planes fly over the Middle East dropping bombs, they are powered by petroleum which may have been purchased from the country they are bombing.

solarvic · May 2013

Re: T.Boone Pickens talks energy

Well I can tell you that around where I live shale oil producing has already begun. We have many business,s locateing here to make all the production equipment needed to produce the shale oil. Some of them moved here from Texas. Maybe you don,t want to admit that the area where I live will produce more oil than Texas. Why are they building all the infostructure for the shale boom which is the name for it here? We have the wet gas which has all kinds of components that need fractured from the original production of the wells. There is a pipeline bieing built to the east coast so we can export propane and lng. The oil company,s like to keep everyone in the dark as long as they can. Ohio has a law that the producers have to publish the well outputs and production. There was an internet broadcast explaining what happened last year. A shale well produces 441 times as much gas as a conventional vertical well. The ng gas from the shale wells have to high of a btu rating for conventional use so needs to be have the btu lowered before it can be used. All the shale wells have the production choked down so far as the inforstructure and pipelines still need to be built. If you are a welder that can pass a drug test you can be sure to get a JOB. It will be the revitalization of our rust belt. People are moviing here for jobs instead of moving away for jobs. My working days are over but hope to get some of the big money. I get about as many phonecalls from landmen and people wanting to buy my mineral rights as creditcard offers. I already have a conventional vertical well so can,t get a signup bonus for leasing my land like my neighbors got. You call, that held by production. The original leaseho;der gets all the signup bonus and I only get 1/8 rolalty. The ones that just leased get between 17% and 20% rolality. I have been offered a quarter million just for the right to collect on my 12 1/2 rolalty. mr gunn, Tell me this, Why are landowners in my area getting these offers and payments? I declined the 1/4 million offer for my rolalty rights because I know they only pay penny,s on the dollar. I am not selling out for that. I know I am 68 years old and might never get any money in my lifetime from it but my daughter will. :Dsolarvic:D Oh, and I forgot to say that lots of the rigs came from Texas and there is a shortage of rigs. Shell is even using all the older vertical rigs to do the verticle drill and move out so a horizontal rig can finish the horizontal drill. This is so they can. DRILL BABY DRILL

James B. · May 2013

Re: T.Boone Pickens talks energy

Not to be confused with an environmentalist or humanitarian, T.Boone Pickens is fundamentally a business man. A very successful one, because he knows how to lobby the government. He built an LNG (Liquefied Natural Gas) supply and distribution empire in what was then a "soft market". The problem was that LNG for transportation has limited practicality for many reasons. Basically, he's pulled off several major accomplishments - he was instrumental in getting grants approved for the construction, pushed for and got tax dollars approved in subsidies and incentives for fleet operators to replace trucks with LNG-powered units. He helped argue that certain areas should have LNG-powered trucks mandated - like the port of Long Beach, where LNG now IS mandated. All of this activity is carefully orchestrated to artificially increase the demand for LNG which his company Clean Energy is all too happy to provide. He's also done a fine job of diverting attention away from how much pure Methane (a greenhouse gas) is released into the atmosphere in the process chain - condensing, transferring, transporting, offloading, storing, dispensing, and finally endpoint consuming.
CNG (Compressed Natural Gas), on the other hand, suffers from far fewer of the application limitations that LNG does. It is never released or purged into the atmosphere anywhere in the distribution process once it leaves the well. It is safer to dispense into the vehicle and requires no personal protective gear to do so like LNG does. CNG can be stored onboard the vehicle long term - it does not purge. CNG supply has no need to be transported over the road because it can be manufactured with compressors on-site at refueling stations connected directly to underground natural-gas service lines. So, one could conclude that CNG (also domestically sourced) is not only more practical and cost effective it's also more environmentally responsible than LNG. However, until Clean Energy finds a way to reap profit from CNG you are unlikely to find them promoting it.
T.Boone Pickens will always talk about vast reserves of domestic "American" natural gas, but there is a dark and ugly side to drilling and fracking rock to get to the gas. The chemicals involved are an industry-protected secret because they're so dangerous. Worth it? Probably, so why not own up to all the facts?
Draw your own conclusions. There is a tremendous amount of information out there on each side of the fence of these subjects. The speeches, like everything else, are a little misleading IMO.

ggunn · May 2013

Re: T.Boone Pickens talks energy

solarvic wrote: »

Well I can tell you that around where I live shale oil producing has already begun. We have many business,s locateing here to make all the production equipment needed to produce the shale oil. Some of them moved here from Texas. Maybe you don,t want to admit that the area where I live will produce more oil than Texas.

I could care less if where you live has more oil than Texas.

niel · May 2013

Re: T.Boone Pickens talks energy

solarvic,
did we exhaust all of our oil and gas that they must frack for it now? as far as i know there's still plenty of that in shallower areas than that of the marcellus levels.

btw, nobody around me that has property owns the mineral rights because of all of the coal that was mined way back in the 1800s. i grew up in an area that the sores still showed above ground from where some of the entrances were. we even had a smoldering mine fire for a few years until it was smothered due to much excavation for a shopping area. at least i think it was smothered for if not my 1st wife will suffer being she lives there.:-)

westbranch · May 2013

Re: T.Boone Pickens talks energy

The one statement I found most revealing was that NG has to be above $6 per MCu Ft (or what ever unit they use) for wind power to be cost/price competitive, since it is competing with NG fueled generators... SO... unless wind is subsidized/mandated it will fail (at this time).

solarvic · May 2013

Re: T.Boone Pickens talks energy

Niel. They have been fracking since the 1940,s. All those wells that were drilled in the late 70,s and 80.s around hear and the coniuett lake area were fracked and people didn,t have all the fears they have now. Rushia started the antifraq movement so other countrys would be afraid to drill. That way they could have more control of the ng prices. It spread from there. Some people in our country want us to be dependent on foriegn oil. There are many shale levels that they drill for. From what I heard most marcellos wells have dry gas that can be directly be put in the pipeline. For now they have a surpluss of dry gas and moved farther east into eastern ohio,wesyern pa. and west virginia to get the wet gas which has many other componets that are nore valuable than the dry gas. A lot of the biproduct will go to a plant that breaks down the separate components that will be used in other industry. There is ethane, propane, oil, nitrogen, ng, stuff for antifreeze and plastic making and fertilizer. Most of the vertical shallow wells around here were drilled by smaller O/G operators. IF the small operators have your land leased with a producing well they can sell the deeper rights to the big boys and still keep and produce the shallow wells. I have went to some landowner meetings and they say it cost about $70,000 to drill a conventional well about a mile down. All the shale wells are deeper than the shallow wells and cost about 7 million. per wel and they can drill more wells from the same drilling pad. I guess at least 4 at one shale play and 4 more at a different shale play. The only companys that have enough money drill the horizontal wells and the little guys get the shallow wells. In Mercer county so far Shell, Chevron, Halcon and a couple others. What is holding things up now is the construction of pipe lines. a couple chemical plants and the processing plants that process the wet gas from the well. As soon as some of that is built we will have a big boom.
In answer to your original question the conventional wells are still in production. The lease holder of my well from pittsburg is still drilling shallow wells over near titisville and west from there. Don,t think the small producers want or need to drill for any gas till the market improves or thier present wells quit producing. :Dsolarvic:D Westbranch. I read somewher that the oil companys need about $6.00 yo be profitable. Why the drilling of the marcessos shale has slowed. Gas seems to stay over $4.00 now.

T.Boone Pickens talks energy

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