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Potential Bounty for North Carolina (Gas & oil) Dr. Daniel Fine's News & Observer Op-Ed

Why is North Carolina not yet a site for drilling rigs, mud and service companies? Why is there shale gas exploration and production in the Marcellus Shale in Pennsylvania and West Virginia, in Arkansas, Texas and the Rocky Mountains?

 
PRLog - Mar. 30, 2012 - Nearly 40 years ago, when the first oil price shock from the Middle East and OPEC disrupted the American economy, North Carolina and Appalachia briefly became an oil and gas frontier. Following geological investigations, Chevron drilled an exploratory well in the Deep River Basin beneath Lee County, N.C. Oil was discovered at 5,000 feet, but it contained excessive paraffin and Chevron plugged the well.

It remains there today as a new natural gas and oil technology has emerged: the capability of opening tight rock formations or shale through hydraulic fracturing and horizontal drilling.

Why is North Carolina not yet a site for drilling rigs, mud and service companies? Why is there shale gas exploration and production in the Marcellus Shale in Pennsylvania and West Virginia, and on different rock formations in Arkansas, Texas and in the Rocky Mountains?

The answer is political. North Carolina has been in self-imposed isolation from the industry that invests and operates oil and gas exploration. Until now, it has not been worth the airfare for a company to send an exploration geologist from Denver to Raleigh. North Carolina law prohibited hydraulic fracturing.

New state political leadership is prepared to change this......

Read more here: http://www.newsobserver.com/2012/03/21/1947986/potential-...

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Source:New Mexico Center for Energy Policy
Country:United States
Industry:Energy, Environment, Government
Tags:shale gas, oil, oil and gas, north carolina, Dr.Daniel Fine, u s congress, elections, Energy, politics, News, raleigh, republican
Shortcut:prlog.org/11837989
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