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  1. #1
    370H-SSV-0773H linux_author's Avatar
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    Uh oh! Possible 'Significant' U.S. Gulf Oil Find

    - don't know if this could be considered comforting or catastrophic:

    http://www.foxnews.com/story/0,2933,212169,00.html

  2. #2
    yes
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    Not such a big deal. It's between 1/6th and 1/2 of the us strategic reserve. It's less than 1/20th to 1/50th of Saudies reserves, so probably less than a percent of world reserves. It could supply the U.S. for 1/2 year.

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    Senior Member Juilin's Avatar
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    What will it take to change a mindset? :/

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    Senior Member wahoonc's Avatar
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    Quote Originally Posted by yes
    Not such a big deal. It's between 1/6th and 1/2 of the us strategic reserve. It's less than 1/20th to 1/50th of Saudies reserves, so probably less than a percent of world reserves. It could supply the U.S. for 1/2 year.
    Yep and will take 4-5 years just to get to it....all the more reason to seek alternate transportation!

    Aaron
    Webshots is bailing out, if you find any of my posts with corrupt picture files and want to see them corrected please let me know. :(

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    RIDE, YOU FOOL, RIDE!"
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    "Steel: nearly a thousand years of metallurgical development
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    Which one would you rather have under your butt at 30mph?"
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  5. #5
    Dare to be weird!
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    This is good news at a time when the U.S. desperately needs some good news about oil.

    I'm also glad that gasoline prices are down. I think many families were feeling the pinch. I've been to some malls lately and I thought there were fewer shoppers than there usually are.

    As others have pointed out, it won't take but about six months for the world to burn through this 15 billion barrels of oil. The petroleum problem has a demand dimension as well as a supply dimension. Both sides of the problem need solutions.

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    Quote Originally Posted by Platy
    This is good news at a time when the U.S. desperately needs some good news about oil.

    I'm also glad that gasoline prices are down. I think many families were feeling the pinch. I've been to some malls lately and I thought there were fewer shoppers than there usually are.
    And this is bad news because...? Seriously, i'm all for higher gas prices, higher natural gas prices, malls losing business. As has been said about 10,000 times before, it's gotta get wrose before it gets better. I just wish people would look at their lives and how they operate...I know that some of them are living their current lifestyle because they simply have no choice, or their are no other means to adjust...hopefully people will see the error of their ways
    yep.

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    Well there is oil that is inexpensive to retrieve such as that which lies under the sands of Saudi Arabia and Iran. Then there is this oil - 7000 thousand feet to the ocean floor then miles of hard rock. We won't be buying this stuff for $2.00/gallon!

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    Dare to be weird!
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    Going after that ultradeep Gulf of Mexico oil might create lots of well paying technical and support jobs in the U.S. We're still good at developing new technology.

    Sure, Middle East oil looks cheaper, but if you account for the military overhead I bet its real cost is around $10 a gallon.

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    Quote Originally Posted by Platy
    Going after that ultradeep Gulf of Mexico oil might create lots of well paying technical and support jobs in the U.S. We're still good at developing new technology.

    Sure, Middle East oil looks cheaper, but if you account for the military overhead I bet its real cost is around $10 a gallon.
    This is good news at a time when the U.S. desperately needs some good news about oil.

    I'm also glad that gasoline prices are down. I think many families were feeling the pinch. I've been to some malls lately and I thought there were fewer shoppers than there usually are.

    As others have pointed out, it won't take but about six months for the world to burn through this 15 billion barrels of oil. The petroleum problem has a demand dimension as well as a supply dimension. Both sides of the problem need solutions.
    Excellent points. It certainly won't help matters much if we tip into recession and we are close to it now. Fuel prices are up over 50% in the past 3 years, people are beginning to get the messsage on long-term fuels scarcity, and global warming is in the news constantly. I applaud all that but believe the system can only adjust so fast. Most people tend to shut down their rational thought processes and go into survival mode when the news gets too bad, so I think Platy is on the right track here. Slow but steady change in the right direction, but not so fast that we can't adapt.
    Specialized Roubaix SL4 Disc, Cannondale T2000 (touring), Stumpjumper M5 (Mtn - hardtail), Cannondale Rize4 (Mtn - full susp)

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    Quote Originally Posted by Slow Train
    Well there is oil that is inexpensive to retrieve such as that which lies under the sands of Saudi Arabia and Iran. Then there is this oil - 7000 thousand feet to the ocean floor then miles of hard rock. We won't be buying this stuff for $2.00/gallon!
    We can't really count on Iran because it looks like the president is getting ready to bomb them so we'll have to take them out of the equation.

    I don't think anyone can predict how this new discovery will effect the world market on oil because another natural disaster or a war with Iran could change the price of fuel dramatically.

  11. #11
    Humvee of bikes =Worksman Nightshade's Avatar
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    Quote Originally Posted by Dahon.Steve
    We can't really count on Iran because it looks like the president is getting ready to bomb them so we'll have to take them out of the equation.

    I don't think anyone can predict how this new discovery will effect the world market on oil because another natural disaster or a war with Iran could change the price of fuel dramatically.
    Let's not forget that China has an exclusive oil deal with Iran now. If G.W. is really nuts enough
    to invade Iran he may find a billion Chinese waiting to protect 'their' oil.
    My preferred bicycle brand is.......WORKSMAN CYCLES
    I dislike clipless pedals on any city bike since I feel they are unsafe.

    Originally Posted by krazygluon
    Steel: nearly a thousand years of metallurgical development
    Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?

  12. #12
    Burn-em Upus Icephaltus Gojohnnygo.'s Avatar
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    I seen this in the paper at the gym this morning "Major Oil Discovery In the Gulf" I was quick to cross out the major part. The people who seen my cross out agreed with me. It kind of shocked me at first. Then most of them saying how lame it was to say MAJOR and we need to find alternative energy supply's. I replied you can always ride your bike. Then I get the OMG look on their face? WTF
    Sick BubbleGum

  13. #13
    gwd
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    Quote Originally Posted by Tightwad
    Let's not forget that China has an exclusive oil deal with Iran now. If G.W. is really nuts enough
    to invade Iran he may find a billion Chinese waiting to protect 'their' oil.
    Is this correct? It would be another reason to invade Iran- to deny the Chinese their oil before their military becomes too globally strong. It would be good for Iranian and Chinese bicycling. An Iranian friend tells me the religious police wouldn't let her or any woman ride a bike in public. That might change with severe gas shortages. The Chinese too might return to bicycling if we bomb Iran's oil facilities and create a shortage for them. Maybe we should support a war on Iran as a war to promote biking and energy conservation. So what if Bush's oil patch cronies get even richer if the result is the greater good of extensive car free living.

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    Quote Originally Posted by gwd
    Is this correct? It would be another reason to invade Iran- to deny the Chinese their oil before their military becomes too globally strong. It would be good for Iranian and Chinese bicycling. An Iranian friend tells me the religious police wouldn't let her or any woman ride a bike in public. That might change with severe gas shortages. The Chinese too might return to bicycling if we bomb Iran's oil facilities and create a shortage for them. Maybe we should support a war on Iran as a war to promote biking and energy conservation. So what if Bush's oil patch cronies get even richer if the result is the greater good of extensive car free living.
    Iran and China already have fuel shortages, where have you been? not uncommon for many chinese to wait as much as 2 days for fuel, and Iran imports the majority of its gasoline,kerosene, and diesel plus has frequent shortages and lines.

    As far as the Chinese military getting stronger globally, I doubt it will happen, they have zero intentions so far in building big capital ships and being able to export war thousands of miles, thats something the US does prettymuch by itself in the world.

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    Humvee of bikes =Worksman Nightshade's Avatar
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    Quote Originally Posted by okpik
    As far as the Chinese military getting stronger globally, I doubt it will happen, they have zero intentions so far in building big capital ships and being able to export war thousands of miles, thats something the US does prettymuch by itself in the world.
    China doesn't "need" a big navy or air force. All they have to do is re-invade Korea and fire off a few
    nuke missiles to defend their interest. The could also invade Tiawan to tie up massive amount of the
    U.S. military forces. The draft would happen overnight to feed the men/women to defend these allies
    as we promised. The Chinese could also cripple our economy because the U.S. has no real
    manufacturing capablity anymore. It all went to China!!! (thank you wal-mart)

    G.W.Bush / Cheney / Rumsfield are playing very dangerous no win game that will kill millions if
    it gets down to a shooting war. "They" can pound their chest all they want.....it's our kids that die
    to defend their lies.
    My preferred bicycle brand is.......WORKSMAN CYCLES
    I dislike clipless pedals on any city bike since I feel they are unsafe.

    Originally Posted by krazygluon
    Steel: nearly a thousand years of metallurgical development
    Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?

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    china doesnt have to fire a shot or invade anything or anyone, just dump about 20% of their dollar holdings all at once and its game over for the US, the US has been so incredibly stupid its ridiculous, the US is a paper tiger

    back to the original topic, the tertiary zone of the GOM is still about 7-8 years best case scenario away from being productive, its a tiny reserve as fields go, incredibly expensive to develop, and already Chevron has set numerous world records with the oil well named "jack" just doing this-----truly heroic measures to get oil, that speaks volumes about the current situation, we should NOT be saying "cool we have some more time", we should be saying "oh sheot, this is deadly serious and we better get to work at conservation and lifestyle changes"

  17. #17
    370H-SSV-0773H linux_author's Avatar
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    Quote Originally Posted by pedex
    the US is a paper tiger
    - which would be a serious underestimation by our enemies.... haven't they learned yet?

    - i'm all for energy conservation and alternative sources of energy (i use much solar and 'green' tech at the homestead - in addition to cycling), but when it comes to protecting our nation - enemies beware!

  18. #18
    Humvee of bikes =Worksman Nightshade's Avatar
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    [QUOTE=pedex]china doesnt have to fire a shot or invade anything or anyone, just dump about 20% of their dollar holdings all at once and its game over for the US, the US has been so incredibly stupid its ridiculous, the US is a paper tiger [QUOTE]

    THIS is why the U.S. is no longer on the gold standard. All we gotta do is crank up the printing
    press.

    The world runs today on "Fiat" paper money that really is worthless.
    My preferred bicycle brand is.......WORKSMAN CYCLES
    I dislike clipless pedals on any city bike since I feel they are unsafe.

    Originally Posted by krazygluon
    Steel: nearly a thousand years of metallurgical development
    Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?

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    printing press is already cranked up, has been for a long long time, banking cartel has been forced to do so, there are limits to their control obviously, still, a sudden drop in the value of the dollar would crash things big time

    and yes our money is indeed worthless, its at what like about 9-15 cents per dollar or so since that infamous day in 1913?

  20. #20
    Dagger Boy Extort's Avatar
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    The oil companies have not exactly had a stellar record when it comes to protecting open bodies of water, and now we want to let them control a massive section of the Gulf of Mexico.

    This is what we will be hearing soon:
    "Get your fresh fish here, filled with Omega-3, Omega-6, and Exxon nutrients!!!"
    Women think they're so clever because they can fake an orgasm for the sake of a relationship, but men can fake a whole relationship for the sake of an orgasm.

  21. #21
    Senior Member cyclezealot's Avatar
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    Ah. Source is from the happy News channel. The find is nothing compared to switching US electric production from oil to solar/wind/renewables. And increasing fleet mileage by even 20%.And the oil spills will soon go undetected since the beaches of Fla and LA are soon to move inland. Soil there is too mucky for the toursists to enjoy.

  22. #22
    Sophomoric Member Roody's Avatar
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    Quote Originally Posted by linux_author
    - which would be a serious underestimation by our enemies.... haven't they learned yet?

    - i'm all for energy conservation and alternative sources of energy (i use much solar and 'green' tech at the homestead - in addition to cycling), but when it comes to protecting our nation - enemies beware
    !
    Now if we could only learn the distinction between "protecting our liberty" and "protecting our right to park less than 50 feet from Starbucks." Our paper money is backed by the faith and credit of the US government, which is backed largely by the military providing continued access to limitless fossil fuels. Iran is trying to open a second oil market trading in euros instead of dollars, and favoring European and Asian consumers over Americans. This is probably the real reason Bush wants to attack them.


    "Think Outside the Cage"

  23. #23
    Been Around Awhile I-Like-To-Bike's Avatar
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    Quote Originally Posted by Tightwad

    The world runs today on "Fiat" paper money that really is worthless.
    Please PM me and I can provide an address for you to mail all your worthless paper dollars and Euros. You can keep your bags of gold dust. Thank you.

  24. #24
    Senior Member oilfreeandhappy's Avatar
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    According to the article, the lower-end estimate of the entire discovery is less than 1/2 a year of the current US consumption. It's a finite resource. Any discoveries will only delay the inevitable.
    Jim
    Make a BOLD Statement While Cycling!

  25. #25
    Burn-em Upus Icephaltus Gojohnnygo.'s Avatar
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    Last week they told us significant oil find in the gulf? This week they tell us to use less! WTF.

    http://www.usatoday.com/money/indust...s_x.htm?csp=26

    VIENNA (Reuters) Some of the biggest oil companies are urging consumers to use less energy to bring down prices and slow rising global demand.
    The move comes as concern grows about global warming and as the oil industry contends with limited access to new reserves and criticism from politicians for not investing enough.

    "It's interesting they are saying that because very often they have not said anything on (the subject of curbing demand)," says Claude Mandil, head of the International Energy Agency.

    "I fully agree with them," he told Reuters on the sidelines of an OPEC seminar on Wednesday.

    Chevron, the second largest U.S. oil company, ran a two-page advertisement in Britain's Financial Times Sept. 6 encouraging consumers to use less fuel.

    "A 5% reduction in global energy use would be enough to power Australia, Mexico and the entire UK," the ad said. "So what are we waiting for?"

    Chevron, which says it has improved its energy efficiency 24% since 1992, is not alone among international oil firms in encouraging consumers to burn less fuel.

    France's Total has advised the French government and the European Union to cool oil demand to avoid a supply crunch as production peaks and starts to decline.

    Global oil production will peak around 2020, earlier than some estimates, if output growth remains at current levels, according to Total Chief Executive Thierry Desmarest.

    More efficient use of energy is the cheapest and quickest way to cut greenhouse gas emissions, Mandil said.

    "If we want to have a long term sustainable future, including a cap on CO2 emissions, we will need everything at our disposal," he said.

    "The most important tool and the one most immediately available at least cost is energy efficiency."
    Sick BubbleGum

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