Texas Oil Well's reduce oil flow by one half.

During these times of super outragous gas prices what do you think the US oil companies are doing about it. My friend in Fairfield Texas has over 12 oil wells on his property. He said his monthly cash flow has been cut in half the past three months because the US oil companies are reducing the flow from the wells by half. I asked him why now, when the US needs to reduce gas prices. He was told because of politics and treaties that the US had signed with the OPEC nations we have to make it look like we are still dependant on forgein oil. The worse thing about this is you and I can not do anything about it. They were planing on drilling three more wells on his property because they have found one of the largest oil feilds in the US under Texas but it is at twice the depth they are currently drilling. He was told rescently by the same people that told him to purchase the land he now lives on back in 1998 that the US has enough oil in California and Alaska to last the US needs for the next 100 years, not including the oil feild that what was just found under Texas the last quarter of 2005. Its all politics.

Comments

  • System2System2 Posts: 6,290 admin
    Re: Texas Oil Well's reduce oil flow by one half.

    Politics? I doubt it. Economics? Maybe. Large oil pools, of course, are bigger than anyone's property, even in Texas. If they are going to be putting down a bigger/deeper well-and-pump-rig on his property (or an adjoining one), the cost of recovering "his" oil might be reduced once the new well is in place. If so, then of course they would want to delay the extraction, and pay him less, later, than they pay him now.

    Bill (who knows nothing about oil)
  • boBboB Posts: 952Solar Expert ✭✭✭✭
    Re: Texas Oil Well's reduce oil flow by one half.


    Very interesting ArcAndSparc ! Appreciate the info. Keep us updated if anything new
    happens.

    boB
  • nielniel Posts: 10,311Solar Expert ✭✭✭✭
    Re: Texas Oil Well's reduce oil flow by one half.

    welcome back arcandspark. i've been wondering what happened to you and if all is well. that info in a way doesn't surprize me somehow. i knew of a few people years back with wells here in pa and they use to hold out selling much oil until the price went up and now you tell us the oil companies don't want to buy the oil domestically when the price is up. what it boils down to is you can only depend on yourself and as i found out anything can happen and did so even yourself may not always be reliable as crap happens.
    some have been asking about geothermal systems and you were the most experienced here so maybe you could create a thread for it. i know a buddy of yours in tx was asking about it and i told him that you knew the most here on the subject. shawndecker1 also asked me about it and he's in nj.
    send me a pm on what you're up to and how you're doing.
  • FrankFrank Posts: 54Solar Expert ✭✭
    Re: Texas Oil Well's reduce oil flow by one half.

    If the US has enough oil in Alaska and California to last the next 100 years - someone forgot to tell the geologists. Alaska has about 6 months supply (except it can't be pumped out that fast). I don't know anything about California reserves. US domestic production peaked in 1970.
  • System2System2 Posts: 6,290 admin
    Re: Texas Oil Well's reduce oil flow by one half.
    Frank wrote:
    If the US has enough oil in Alaska and California to last the next 100 years - someone forgot to tell the geologists.  Alaska has about 6 months supply (except it can't be pumped out that fast).  I don't know anything about California reserves.  US domestic production peaked in 1970.
    I think it is ANWAR they say has 6 months worth of oil, which is why so many don't feel it is worth tearing up for such a small amount of oil. Of course it does still represent an awful lot of profit for the oil companies anyway...
  • nielniel Posts: 10,311Solar Expert ✭✭✭✭
    Re: Texas Oil Well's reduce oil flow by one half.

    "For me, I still want to produce what I am using, but I am still a long ways from there.

    Jay (I'm back!)"

    first of all welcome back although i don't recall talking to you. as for your statement i gather you have oil you produce on your land. are they cutting back on you as arc has indicated they are doing to his buddy?
  • nielniel Posts: 10,311Solar Expert ✭✭✭✭
    Re: Texas Oil Well's reduce oil flow by one half.

    actually i think i had several conversations like that. hope you get it going like you want to. you might want to see this. http://www.wind-sun.com/smf/index.php?topic=1589.0
  • System2System2 Posts: 6,290 admin
    Re: Texas Oil Well's reduce oil flow by one half.

    Discovery channel showed today a program on huge off shore oil rigs being built in Korea for Russia. They said that the one location just off the east cost of Russia has enough oil to last the worlds entire needs for the next fourty years. May not seem like a long time but we are looking at only one site and the entire worlds oil demand for that period of time. Oil will be with us for a long time.



    arcandspark

    LAST MONTHS PROJECTS:
    Installed temporary backup 11Kw generator after 22Kw generator unit failed. Kohler Rep said the 22Kw unit can not be fixed, after four years and over 5000 hours. Waiting on new 36Kw unit. Finished pouring concrete slabs to move Generators and Propane Tanks to new location. Started installing outdoor electrical transfer switch boxes. Will run PVC conduit next month. Owner has now decided to have me install the PV panels and start using free energy from the sun, he's about four years to late since the panels have been in storage that long, but better late than never. He has about 1700 watts of PV panels not installed yet. Tested the Windseeker wind generator that was sold to my friend about five years ago never installed and it does not seem to be working. The company Southwest Wind says they do not build that generator anymore because they had design problems and can not help me to get it repaired. The lesson here is make sure when you spend you money on solar you purchase stuff from a company that will back up their products.

    THIS MONTHS PROJECTS:
    This July 4th weekend I started installing a 950 watt PV system using ten Photowatt PW1000 panels. It will take me about three more weekends to finish the projects since I can only work on it on my days off. Also next weekend will finish installing outdoor electrical transfer boxes and run under ground PVC conduit and be ready for new generator. The system will have redundancy built into it using a 200 amp transfer switch to choose between two backup generators. Will have to install new Propane fuel plumbing at new location and plumb to generator slabs. Started a fouth energy system install, this is a small, system using a Trace 2400 watt inverter. The owners only want to power a small refrigerator or freezer and a 5000 BTU window air conditioner. I have the inverter, a backup 8000 watt generator and currently we are looking for CHEAP batteries which will end up costing about $1000 to be able to run those appliances through the night.

    NEXT MONTHS ROJECTS:
    August will be HOT and I will be installing the second PV system which will be eight BP585 panels on a Sun Tracker unit that will track the sun using Freon to transfer weight and move the panels from East to West as it follows the sun across the sky. I will also be installing a grounding system for lightning protection using a grounding grid like the one used on cellular phone transmitter sites. August the new generator should arrive and I will install it and wire it back into the system. Also I will start installing plumbing for the Co-generator system I am using to capture the wasted heat energy from the generators engine and transfer it to the domestic water heater used in the home.

    FUTURE PROJECTS:
    I need to find time to install a third set of 24 volt 1500 amp hour batteries that weight a total of about 1500 pounds. These will make up a battery system capible of 4500 amps at 24 volts. Also the Thrid Trace SW4024 inverter needs to be hooked up and checked out.

    I love this hobby!

  • nielniel Posts: 10,311Solar Expert ✭✭✭✭
    Re: Texas Oil Well's reduce oil flow by one half.

    hi arc,
    wow you're fairly busy there. if it's at all possible do you think you could send a few pics to me when you get it in or have something interesting to show me, with the owner's permission of course? i can't post them to the forum if you want them here so if you lack that ability on any you'd want to show here in the forum i can't help you with it. there is a way of doing it, but if i remember right you have to use another site somehow. i never did it or understood how others did. if you don't remember it's my callsign at yahoo.com.
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