Discovery of significant oil and gas fields in the United States
The results of a study sponsored jointly by the US Geological Survey and the Department of Energy that examines US petroleum potential are reported. The study concluded that the US can continue producing domestic supplies of petroleum liquids for 20 to 40 years and natural gas for 17 to 26 years at 1979 rates of production, allowing for exploration and production costs of up to $40/bbl. The rather pessimistic prognosis is based on the predicted exhaustion of geological possibilities in the US. The study noted that the amount of oil discovered has declined steadily since 1930, and the amount of natural gas has declined substantially since the 1950s. Most new discoveries are predicted to be in frontier areas, i.e., offshore or in Alaska. (BLM)
- OSTI ID:
- 6194653
- Resource Relation:
- Related Information: Paper No. R-2654/1-USGS
- Country of Publication:
- United States
- Language:
- English
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03 NATURAL GAS
NATURAL GAS
PRODUCTION
PETROLEUM
USA
NATURAL GAS DEPOSITS
PETROLEUM DEPOSITS
FORECASTING
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
MINERAL RESOURCES
NORTH AMERICA
RESOURCES
020100* - Petroleum- Reserves- (-1989)
030100 - Natural Gas- Reserves- (-1989)