Often quoted is the potential amount of oil that might be below the surface of the Galisteo Basin. From a previous Drilling Santa Fe post:
Tuesday, October 9, 2007
How many barrels?
"This world uses a thousand barrels of oil a second-- that's 86 million barrels a day. With China, India and other emerging nations continuing to grow, that number's not going anywhere but up."
-- mywesttexas.com
"According to Dirks, the portion of the rift between Santa Fe and Socorro may contain one of the largest hydrocarbon resources in New Mexico, containing 50 to 100 million barrels of light sweet crude oil and 5 to 10 trillion cubic feet of natural gas." -- Tecton Energy, LLC Press Release, September 19,2007.
Enough oil for just about a day of current world consumption; but, what about the adverse economic, cultural, water source, and environmental impacts to Santa Fe and Santa Fe County?
Yet, experts in the field question not only the quanity, but the quality of hydrocarbon in the area. The New Mexico Independent covered the debate recently. Click here to go to the video.
-- mywesttexas.com
"According to Dirks, the portion of the rift between Santa Fe and Socorro may contain one of the largest hydrocarbon resources in New Mexico, containing 50 to 100 million barrels of light sweet crude oil and 5 to 10 trillion cubic feet of natural gas." -- Tecton Energy, LLC Press Release, September 19,2007.
Enough oil for just about a day of current world consumption; but, what about the adverse economic, cultural, water source, and environmental impacts to Santa Fe and Santa Fe County?
Yet, experts in the field question not only the quanity, but the quality of hydrocarbon in the area. The New Mexico Independent covered the debate recently. Click here to go to the video.
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