Sign North Dakota Banking Living Will Free

Industry sign banking north dakota living will free

in 1859 a man named Edwin Drake tried doing something that no one had succeeded to do before he began drilling specifically for patron drink and his Seneca oil company began to drill in northwestern Pennsylvania near Lake Ontario on the banks of the Allegheny River system interpret haricots hype on Sunday August 28th after months of trying and fears of bankruptcy Drake and his partner Billy Smith found a black liquid seeping to the top of their pipes they had struck oil what would be known as black goo dregs drilling was the first large-scale extraction of petroleum in history and people investments and commerce poured into western Pennsylvania forever revolutionising the history of Crawford County soon northwestern Pennsylvania had holes drilled through the soil not only by the Cenacle oil company but by their competition as well this was the pennsylvania oil rush and it started a revolution not only in the United States but the world by providing it with a large economical source of formerly untapped energy in the early 21st century we are experiencing another petroleum revolution in the United States this time it is the shale revolution the phenomenon that describes the tapping of American petroleum reserves that were not accessible with the past technology there are technological advancements and its newly usable Natural Resources the United States is on the way to become energy independent this will of course have enormous consequences in the century of the ten thousand I will discuss the beneficiaries of the shale revolution and simplification on global politics this is the ten thousand if you enjoy the content like and subscribe to help the chin [Music] to understand what the shale revolution is we must first understand why shale oil is most petroleum can be found in shale rock fragments shale is a type of rock formation that frequently contains petroleum whose petroleum is from the ancient remains of plankton analogy when these organisms die they sink to the bottom of whatever body of water they lived and settled into the mud after millions of years this mud filled with microscopic bodies stacks up to become the soft rock traditionally what the petroleum industry tried to do is find pools and bubbles of the dead plankton and algae inside the earth that they can pop and suck up that remains to be used as energy when the petroleum is obtained from the shale rock eventually many reservoirs of petroleum or left behind in the soft rock as it is much more difficult to obtain the petroleum from them but the shield industry does is come up with unconventional ways in order to extract the extra petroleum from these deposits that aren't perfectly packaged the amount of these crudely packaged hydrocarbon resources can add up to as much as orphis to nine tenths of the total petroleum in an oilfield unfortunately with this new supply of hydrocarbon resources not all areas of the globe will benefit equally the areas that would benefit the most obviously will be the places that have these hydrocarbon resources to extract the known areas of lordship plays include Western Europe the United Kingdom Poland the Baltics Russia China Australia with America including Mexico Argentina the Maghreb in South Africa however these will all still see stratified benefits from shale based on the geography political systems and their technical expertise we didn't have time to compare and contrast each shale economy it is important to know certain outliers apparent since Russia as the world's most petroleum rich shale deposit the bashing off shale play in Siberia but Russia will not be able to read much reward from it during the decades after the collapse of the Soviet Union Russia has emerged its intellectual base that is vital for the extortion of its shale resources numerous sanctions by the Obama and Trump administrations have made it incredibly difficult for Russia to develop the capital to extract the hydrocarbons and that shale is located under permafrost in the winter and swamp during the summer China faces a similar situation but it's shale reserves are not located under the set they're in swamps but the secessionist leaders being culturally unique etc means the land confiscation and earthquakes that the shale industry would undoubtedly cause would make this shale in China more politically risky than anywhere else in the world as it profits to regions that are politically problematic for Beijing the Western Europeans have politically risky shale as well their shell is not located under secessionist regions but under the city of Paris the heavily urbanized areas of northern french belgium the netherlands and western germany all have shield deposits as well as a politically conscious green movement and no established mineral rights earthquakes in frankfurt increased pollution in the rhine and a lack of compensation will make the green movement even more conscious the shale boom in Western Europe will be hard to be significant the rest of Europe will be slightly better UK Pullen are keen on ship technology as their resources are better spread out and it will provide large consumer basis with the energy they need Poland especially will use shell technology as a geopolitical weapon to combat Russia Owen is upset that Western European allies consume energy from gas pump a Russian energy company and sees it as a security concern over the past few months Owen has even begun to bully Gazprom spike one that is under construction Nord Stream 2 trying to hold production in season assets in the future of Poland's shale industry will be used as a weapon to jockey for dominance in Central and Eastern Europe Australia and Argentina will be two of the big winners in the southern hemisphere but they run in similar problems Captain Australia's shell is located in the heart region isolated areas of the continent we can't expensive to extract well though Argentina has very well-educated shield plays it has the problem of being perpetually broke both Australia and Argentina will will simply seek outside benefactors willing to exploit their capital problems most likely China and the US perspective however not all holders of shale plays just have money problems some of them face existential crises mobius shell will be impossible to develop in the current political plan Libya is a failed state and has effectively been sucked since the Arab Spring the civil war that has been waged since 2014 has made it hard for Libya to take advantage of exploited reserves but not for Turkey Turkish president heir to one has differently taken advantage of the civil war in Libya and has granted oil rights by the GNA the Congressional faction in the conflict the Turkish position is incredibly strong in the eastern Mediterranean a position even Putin publicly acknowledged in January of 12 if turkey continues to strengthen its position in southern waters it will most likely take full advantage of the shale fields in Libya however this Winfred turkey will pale in comparison to the shale boom in North America where the title of revolution will truly be armed like many revolutions the shale revolution is not something that happened overnight but over a long period of time of tinkering and production the shell began decades ago in North America at the dawn of the millennium shell was only 1% of a crude oil production in the United States and in 2019 it reached 63% far outperforming expectations part of the surge in American shield production is due to the fact of how far the price has fallen down the price curve in 2012 the US shale breakeven point was about $90 per barrel well has gone down to about 46 dollars per barrel in 2019 but reference the cheapest break-even point for all oil production is the coveted Saudi Aramco break-even at $42 but there since the only cheaper crude oil production in the world that North American shale is the Saudi conventional oil price there has been a lot of shale production in recent decades this production can even be seen from space in Northwest North Dakota there is an area of bright lights those people who are not geographically inclined might be tricked into thinking that Northwest North Dakota contains eight bustling metropolitan center however 15 years ago these lights were non-existent the only people who live in North Western North Dakota are farmers that grow wheat corn oats and alfalfa on the Great Plains what does exist there is the back in Champlain the epicenter of the shale revolution in the United States these lights are really just excess natural gas they lured a byproduct of the extraction process there's so much natural gas being produced in North Dakota that the gas isn't profitable as fuel and is thus burned to prevent an environmental catastrophe the energy company's an area have not yet built deep infrastructure that will carry the gas away and sell it and the natural gas cannot be stored or integrated into the existing power system so it is burned off natural gas the building block of modern civilization is so cheap and so readily available in North Dakota that it has burned as a waste product dubbed Quaid of the Prairie North Dakota is now the biggest oil producing state outside of Texas in 2018 because of the shale technology the United States became the world's largest crude oil producer this not only has important economic benefits for the United States but important environmental ones as well despite environmental protest against the fracking process in the US the shale revolution has been the biggest thing for the American environment since the formation of the Environmental Protection Agency by Richard Nixon in 1970 from its height of carbon emissions in the mid 2000s the US has seen a dramatic secular decline as the economy crashed in 2007 the carbon emissions in the u.s. did with it but unlike the economy the carbon emissions never recovered and has since improved dramatically in 2007 the US produced 6000 million metric tons of the emissions into the atmosphere but after the shale revolution unfolded in 2015 the US only produced around 5,000 100 million metric tons of emissions the lowest level since 1992 when the economy was half its size in real terms as cheaply extracted natural gas food the pipelines across the continent the use of inexpensive but dirty coal diminished and so has pollution across the country the u.s. knew with American neighbors will also be positively affected by this boom both Mexico and Canada share the resource deposits with the United State but both will be affected different in this new energy relationship Mexico will have the most benefit although Mexico does not have the skills or the capital to take advantage of its shale resources its neighbor to the north will be more than happy to assist if Mexico's energy sector continues to liberalize American corporations will provide it with the resources it needs a sign of the progressing relations fraternity and the integration of the economies between the u.s. and Mexico as energy costs are brought down across the board in Mexico real wages will rise and the new American products that will be made there will become cheaper the integration of the Mexican and American economies will be fruitful for both parties Canada however will get the short end of a stick although Canada already has a booming shell economy and the continuation of that economy will improve Canada's carbon emissions and draw it away from dirtier energy sources the shale revolution will not be the best for traditional Canadian or Canada already oil giant especially for its size has been a dependable producer above food to the United States however with shale Canada's large conditional energy industry must be wire its system that is already configurated with us and find new markets as both the Canadian and American shale industries have competed on price as the extraction from shale requires a vastly different skill set from the traditional oil industry there will be a large sector of economic losers in Canada however the most impactful factor of shale will not be what she'll does to the North American economy but what it allows them with America to do to the world stage as a geopolitical imperative the United States that majorly contends in a few places in the world Northeast Asia to prevent a hegemonic power from the challenging its position in the Pacific Europe to prevent a Ejim on for doing the same in the Atlantic and the Straits of Hormuz to protect its energy supply in deep artery of its economy as she continues to boom in the North American continent the United States has less use for the artery the textbook does not use with the only formidable Navy the US has much more leverage over the Straits and therefore the world's supply of energy shale also frees up the United States from the problems and the release geopolitical problems that has had for almost a century and has distracted it from the fall of the Soviet Union and the rise of China if it wants to the US might be able to walk away what is most interesting from the formation of the show economy in North America is that it gives a clear example of where power comes from on the continent the US and Canadian governments have spent minimal on the ship and just cruise development pennies on the R&D dollar the most that the Obama Trump Trudeau and Harper administration's have done for the shale industry is allowed to drill just like Drake in 1859 the United States with its developed property rights system its multitude of expertise luck of geography and its abundance of capital has become as powerful as it's ever been without planning committees congressional meetings bureaucratic dictates or the stroke of a pen in Washington this has been the ten thousand thanks for watching if you enjoy the content don't forget to Like and subscribe to help the channel