AubreyJ’s Energy Update Report - Tuesday, May 27, 2008

AubreyJ’s Energy Update Report
Bans May Soon Be Lifted On Drilling?
Tuesday, May 27, 2008

* The Wall Street Journal website had this article out on May 23rd and it goes in part like this...
...Last week, Exxon Mobil Corp. Chief Executive Rex Tillerson chided President Bush for asking Saudi Arabia to boost its production, while not doing more to increase production at home in the U.S., particularly off the coasts of Florida and California... "There is no question in my mind that there is significant conventional resources available," Mr. Tillerson said in an interview last week. "If you are looking for larger fields, they will probably be found in the offshore areas that are currently off limits."...
Read the full article at link below...
Oil Industry, Lawmakers Aim To Lift Bans on Drilling

* BusinessWeek.com reports it this way...
A new report from the Bush administration says most of the oil and more than 40 percent of the natural gas beneath public lands in the United States are off limits to drilling... Opening those reserves would give energy companies access to an estimated 19 billion barrels of oil and 95 trillion cubic feet of natural gas, administration officials said Wednesday. That would require Congress to roll back environmental safeguards and lift drilling prohibitions on vast areas -- from Florida to Alaska and across the Rocky Mountain West...
Read the rest at link below...
Feds: Much of oil, gas under lands off limits

* The Salt Lake Tribune, (I just couldn’t help myself in putting this one up,) brings us this bull crap for a news article at link below...
Cost of drilling: Wells threaten tourism, hunting and natural beauty

(My take is... If/when we get to $10.00 a gallon for fuel at the pumps... you are not going to have ANY TOURISM, there will be no hunters out, simply because they want be able to afford to drive to the woods to go hunting... and beauty is in the eyes of the beholder.)

* CentreDaily.com brings us this news article today and it goes in part like this...
Snow Shoe Township resident Don Morgan thought $200 an acre for gas rights to his 48-acre property sounded like a good deal, especially compared with the $3.50 an acre he gets each year under a soon-to-expire lease... Then he heard about other landowners getting offers of $600, $800 and even $2,500 an acre in some places... “I don’t feel like I was ripped off, but you feel like you got left out,” said Morgan. “I did what I thought was the right thing at the time.”... He’s one of many Pennsylvania residents flooded with offers from gas companies combing the state in hopes of tapping into gas reserves... Natural gas is a hot commodity. Demand is climbing for energy - particularly clean-burning energy that doesn’t have to be imported - and natural gas prices have increased sharply, if not steadily...
Read the article in full at link below...
NATURAL GAS RUSH
> Note: The above report sounds all so familiar as to what’s been going on in my area, (The Ark-La-Tex) over the last so many months...
Read up on the Haynesville Shale - Large Natural Gas Deposit In Northwest Louisiana HERE

* USAToday.com has this article that should sound somewhat familiar...
Pastor Elvis Bowman of the Greater Mount Tabor Christian Center, an aging, homespun church in a low-income neighborhood here, has a new title: energy mogul... By letting Chesapeake Energy drill wells and pump natural gas from beneath its 50 acres, the church has pocketed tens of thousands of dollars and stands to clear tens of thousands more in royalties each month after drilling begins. The money will help pay for a new $8 million church and performance center, a $12 million mixed-use development nearby and a slate of community programs to help the less fortunate...
Read the full story a t link below...
Landowners get windfalls from natural gas drilling

Image credit: WPClipArt
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* VOTE DBD for a Better Tomorrow *

DRILL Wells...

BUILD new Refineries/Plants...

and

DEVELOP New Technologies

for a better, Energy Independent, Tomorrow.

Read more at link below...
Sheer Stupidity by many in Congress Put Large Areas of Potential U.S. Oil/Gas Supplies TOTALLY Off-Limits

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AubreyJ.........