"As much as two thirds of the conventional crude oil originally discovered in U.S. fields remains unproduced; left behind due to the physics of fluid flow. In addition, hydrocarbons located in unconventional rocks or that have unconventional characteristics (e.g., oil in fractured shales, kerogen in oil shale, bitumen in tar sands) constitute an enormous potential domestic supply of energy. The application of enhanced oil recovery (EOR) technologies to overcome the physical forces holding these hydrocarbons underground can turn these well known accumulations into oil reserves, enhancing U.S. energy security while helping to support economic growth. Carbon dioxide injection, already the most common EOR method, holds even greater promise if it can be applied to mature oil fields across the country. The three research focus areas of Enhanced Oil Recovery are carbon dioxide EOR (CO2 EOR), environmental, and other EOR and oil resources."
EOR is evolving rapidly. Precise drilling and reservoir modeling is allowing sweeps that were thought impossible without vast amounts of water and freezing whole walls of earth. Not to mention material science which forces oils from cracks.
I couldn't give a RLP'd about the major oils. The innovation comes from American entrepreneurs like Mr. Hamm. Get the Progressives with their dissembling and legions of low information automaton environmentalist Luddite religionists out of the way.
If we had elected Romney I have no doubt our economy would be exploding into growth at this point. Obama delayed capital investment suddenly competing to be the first mover on free ethane, natural gas and discounted ngls.
I have no doubt either that the insane corn ethanol mandates would have been waived. Setting the industry up for competition from our cleaner and cheaper natural gas.
Well to remember Obama is claiming to lead by abusing executive power he does not have the authority to wield over our common sense.
This is all old news and it costs a lot to try and get every drop of oil out of old fields. I remember this from years and years ago. It is pretty much a waste of money and time and very over publicized like people like Norris/ dadnorris/ false and any other id he carries.