Posted: March 27, 2012 4:51 PM
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.
Read more here: http://www.newsobserver.com/2012/03/21/1947986/potential-bounty-for-north-carolina.html#storylink=cpy
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. See more click on this link----? http://www.newsobserver.com/2012/03/21/1947986/potential-bounty-for-north-carolina.html
Read more here: http://www.newsobserver.com/2012/03/21/1947986/potential-bounty-for-north-carolina.html#storylink=cpyhttp://www.newsobserver.com/2012/03/21/1947986/potential-bounty-for-north-carolina.html