Prodigy Oil and Gas Company chief prognosticator and CEO, Shawn Bartholomae, has always been of the position that the U.S. had more than adequate oil and gas to produce. It is a matter of applying new technology to existing fields.
Shawn Bartholomae – America Has Oil
Shawn Bartholomae says, America was “chastised “a few short decades ago and we were collectively warned that we were indulging in a lifestyle that was calling upon resources that were rapidly diminishing and we were heading for an apocalyptic disaster. This lifestyle is at the end of its rope. In short, we were told that what we were doing, the comforts that we were taking for granted are unsustainable.
This was 1977 and the president was Jimmy Carter In essence, the nation was told “We are running out of oil and gas. The abundance of energy that has made our society so vibrant is in jeopardy. “
For years, many drillers and operators were not buying the story. It was often reported that we have reserves in our formations in North Central America that are as vast and extensive as to be found anywhere in the world. Many in the industry wondered how we could be in the position of importing 700 billion dollars a year for oil that we could be producing ourselves.
The comeback to that comment was “Yes, that may be true, that we do have large reserves but the reserves that you speak of are in shale formations and the shale is not relinquishing its treasure.”
Shawn Bartholomae also talked about two newly formatted methods of extraction came along, largely through developments in Texas, as George Mitchell applied the twin innovations of hydraulic fracturing and non-conventional drilling to the scene. The new technology not only gave a large gas shale, the Barnett Shale, a new lease on life but the methods being used changed the landscape of the world’s oil and gas situation.
The world now seems awash in newly discovered energy, Much of what is hitting the books and is now called ‘proven reserves” is in fact due to the fact that we can see better what we are going for and that we can hit the target with a higher degree of accuracy . We can also do so much more with the formation when we get there. It is nothing less that an energy revolution.
Shawn Bartholomae says that, no nation has endorsed the energy revolution and has endeavored to bring in the new technologies and keep an ongoing progress in new thinking as much as America. The increasing sophistication and ability of the oil and gas industry is causing a real transformation of the landscape of the oil industry. The increased prosperity goes beyond the oil. It is beginning to re-shape the political systems in many countries.
Many societies are beginning to re-think the way the newly found wealth is disseminated Change is the key word for energy developments. The energy revolution and the changes in technology it has wrought continues at a furious tempo.