Comments on: American Solutions: The Peterson Amendment! http://08annodomini.wordpress.com/2008/06/17/american-solutions-the-peterson-amendment/ The right opinion about everything! Wed, 13 May 2009 00:28:39 +0000 http://wordpress.com/ hourly 1 By: Tom Casey http://08annodomini.wordpress.com/2008/06/17/american-solutions-the-peterson-amendment/#comment-6 Tom Casey Thu, 19 Jun 2008 02:46:14 +0000 http://08annodomini.wordpress.com/?p=17#comment-6 I have a Master's Degree in Geology and worked in the oil business for about 25 years begining in 1975. From 1977 until 1981 I was European Sales Manager for a Houston manufacturing company that made 'down-hole' equipment for the drilling industry. From 1982 until 1990 I was International Sales Manager for Mission Drilling Products Division of TRW, with plants in Belfast, Mexico City, Rio de Janerio, Melbourne, and Tokyo. I had ware houses in Aberdeen, Great Yarmouth,Antwerp, and Singapore. I negotiated joint-venture manufacturing agreements in Argentina and India. The reality of the oil business is that of those formations that have been produced over the last 75 years, less than 30% of the insitu oil has ever been recovered. In the past it was not economically feasible to get to those remaining reserves. In the past few years old over-produced fields have been rejuvinated by steam injection, water injection, acid injection and sand fracturing of the producing formations. Newer technology will be needed but there is probably two times the oil produced over the last 75 years still in place because of limited technology. New techniques of seismic mapping with locate previously un seen oil/gas bearing formations and structures. Historically, for every producing well, 9 dry holes were drilled. As you said on Fox News tonight, "That is why they call it exploration." Tom Casey tcasey_34@yahoo.com 3740 Guyton Road Birmingham, AL 35244 I have a Master’s Degree in Geology and worked in the oil business for about 25 years begining in 1975. From 1977 until 1981 I was European Sales Manager for a Houston manufacturing company that made ‘down-hole’ equipment for the drilling industry. From 1982 until 1990 I was International Sales Manager for Mission Drilling Products Division of TRW, with plants in Belfast, Mexico City, Rio de Janerio, Melbourne, and Tokyo. I had ware houses in Aberdeen, Great Yarmouth,Antwerp, and Singapore. I negotiated joint-venture manufacturing agreements in Argentina and India.

The reality of the oil business is that of those formations that have been produced over the last 75 years, less than 30% of the insitu oil has ever been recovered. In the past it was not economically feasible to get to those remaining reserves. In the past few years old over-produced fields have been rejuvinated by steam injection, water injection, acid injection and sand fracturing of the producing formations. Newer technology will be needed but there is probably two times the oil produced over the last 75 years still in place because of limited technology.

New techniques of seismic mapping with locate previously un seen oil/gas bearing formations and structures.

Historically, for every producing well, 9 dry holes were drilled. As you said on Fox News tonight, “That is why they call it exploration.”

Tom Casey
tcasey_34@yahoo.com
3740 Guyton Road
Birmingham, AL 35244

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