The largest untapped oil reserve in the world is more than 2 TRILLION barrels. , page 2

Nasdaqreply to post by Now_Then

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Shale oil can be drilled, like Bluto said normally using horizontal drillinig and fracturing. A Company here in Texas is using triple laterals and multiple fractures on each of the well bores in shale field causing huge increases in production of Oil and Natural Gas from Shale prospects. Being an investor in Domestic Drilling Programs gives huge tax benfits on top of the fact that recovered domestic oil sellss as soon as it is delivered not when it can be recieved. Therefore while other product waits in ships to go into the reserves domestic oil goes directly into the reserves. While drilling is expensive gains have been good for alot of companies due to the price of oil products and the tax benifits related to Intangable Drilling Costs.

Where I foresee there being a serious problem for Domestic Drilling in the future is not technology to get it out of the ground it is the leglislation in the works attempting to eliminate the tax benifits that make Domestic Drilling Programs so attractive to investors.

The comment came after the White House released new details of a budget that showed it is also sticking with other plans to eliminate $26 billion in tax breaks for oil and gas companies. Half of that would come from eliminating a tax break for domestic oil and gas production. Companies say the tax measure keeps jobs in the U.S.

"Oil and, to a large extent, gas are internationally traded commodities and their prices are determined on the world market," the White House said in justifying the tax plans. "As a result, domestic oil and gas production subsidies do not significantly reduce the prices that consumers pay for products such as gasoline and home heating oil, resulting primarily in higher returns to the oil industry."

I didn't get the link right but the news articl is above where it says "Nasdaq" sorry

[edit on 8-5-2009 by wastedown]

[edit on 8-5-2009 by wastedown]

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