Uh oh! Possible 'Significant' U.S. Gulf Oil Find
09-13-06, 12:47 PM
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All the exploration / research is writeoffable if I am not mistaken. So it looks like the oil companies are working hard to get more fuel, when really it is all a bill of goods, paid for in part by individual tax payers, 9less tax paid for by the corps). The amount of oil in this find is insignificant.
Good side is that it would mean that there was some oil we could get without killing or occuping another hostile country, and without increasing our national debt.
But look at the facts:
"Chevron on Tuesday estimated the 300-square-mile region where its test well sits could hold between 3 billion and 15 billion barrels of oil and natural gas liquids. The U.S. consumes roughly 5.7 billion barrels of crude-oil in a year."
and
"During the test, the Jack 2 well sustained a flow rate of more than 6,000 barrels of oil per day, but analysts and executives believe the payoff could be much larger than that."
This means that if there where 10,000,000,000 (10 billion) barrels there, and they could pump 10,000 barrels a day it would take 2740 years to extract. If they set up 100 platforms and they all pumped 10000 a day it would take more than a generation to pump it out. Get real. And they are not even going to start for 5 -10 years! Oil is going to be prohibitively expensive before the field matures.
I dont mind if the price of oil goes up. But it would mean that there would be more sickness, higher death rates, lower birth rates. People would spend more on gas and less on food and medical care.
Good side is that it would mean that there was some oil we could get without killing or occuping another hostile country, and without increasing our national debt.
But look at the facts:
"Chevron on Tuesday estimated the 300-square-mile region where its test well sits could hold between 3 billion and 15 billion barrels of oil and natural gas liquids. The U.S. consumes roughly 5.7 billion barrels of crude-oil in a year."
and
"During the test, the Jack 2 well sustained a flow rate of more than 6,000 barrels of oil per day, but analysts and executives believe the payoff could be much larger than that."
This means that if there where 10,000,000,000 (10 billion) barrels there, and they could pump 10,000 barrels a day it would take 2740 years to extract. If they set up 100 platforms and they all pumped 10000 a day it would take more than a generation to pump it out. Get real. And they are not even going to start for 5 -10 years! Oil is going to be prohibitively expensive before the field matures.
I dont mind if the price of oil goes up. But it would mean that there would be more sickness, higher death rates, lower birth rates. People would spend more on gas and less on food and medical care.
Last edited by slagjumper; 09-13-06 at 12:54 PM.
09-13-06, 12:49 PM
#27
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Originally Posted by Gojohnnygo.
Last week they told us significant oil find in the gulf? This week they tell us to use less! WTF.
https://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.
https://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.
during times of plenty never thinking about time when there will be less to consume. This leads
to faminie in the commodity in question.
So it is with Oil.
Oil companies dare not tell the world that they are running our of places on the planet to "find"
new oil sources because of the panic & hoarding it will cause. This is of little matter really as
hoarding is underway now in all major countries along with the "oil wars" in the middle east.
The prize at the end of the day is the simple ability for the winners population to live a slightly
easier lifestyle just as the Romans did during the height of Rome's power when slavery was
used. Slave's = The easy life. The battle over oil is no different.
All that said....
Being car-lite / carfree is VERY smart because you postpone most of your share of consumable
oil for the future to use which ,for many, will be their own children.
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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?
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?
09-14-06, 12:25 PM
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Tightwad thanks,
Now I see! I have been hoarding my full 575 gallon tank of fuel oil for years. I keep the temp at 62F in the dead of winter 20F down to -40 below, with the back up ready a wood/pellet stove for those very cold days. I'm still working on some solar panels and a small wind turbine.(Money) I live on top of a 947' hill. The wind is always ragging on top here. I have the wind turbine, now to get it appoved by the local goverment.
Johnny
Now I see! I have been hoarding my full 575 gallon tank of fuel oil for years. I keep the temp at 62F in the dead of winter 20F down to -40 below, with the back up ready a wood/pellet stove for those very cold days. I'm still working on some solar panels and a small wind turbine.(Money) I live on top of a 947' hill. The wind is always ragging on top here. I have the wind turbine, now to get it appoved by the local goverment.
Johnny
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09-15-06, 11:11 AM
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Originally Posted by Gojohnnygo.
Tightwad thanks,
Now I see! I have been hoarding my full 575 gallon tank of fuel oil for years. I keep the temp at 62F in the dead of winter 20F down to -40 below, with the back up ready a wood/pellet stove for those very cold days. I'm still working on some solar panels and a small wind turbine.(Money) I live on top of a 947' hill. The wind is always ragging on top here. I have the wind turbine, now to get it appoved by the local goverment.
Johnny
Now I see! I have been hoarding my full 575 gallon tank of fuel oil for years. I keep the temp at 62F in the dead of winter 20F down to -40 below, with the back up ready a wood/pellet stove for those very cold days. I'm still working on some solar panels and a small wind turbine.(Money) I live on top of a 947' hill. The wind is always ragging on top here. I have the wind turbine, now to get it appoved by the local goverment.
Johnny
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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?
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?
09-15-06, 12:32 PM
#30
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Originally Posted by Tightwad
WTF!!!! I wasn't picking at you, mate !!
You’re taking it the wrong way. I was simply saying I'm doing my part to to help out. I have saved (Hoarding) the fuel I have for a few years, because I live in the cold Northeast. I was just saying our car free lifestyles could go a long way or did you miss the part about my wind turbine?
Car Free forever,
Johnny
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09-16-06, 11:35 AM
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Originally Posted by Gojohnnygo.
I wasn't picking at you either.
You’re taking it the wrong way. I was simply saying I'm doing my part to to help out. I have saved (Hoarding) the fuel I have for a few years, because I live in the cold Northeast. I was just saying our car free lifestyles could go a long way or did you miss the part about my wind turbine?
Car Free forever,
Johnny
You’re taking it the wrong way. I was simply saying I'm doing my part to to help out. I have saved (Hoarding) the fuel I have for a few years, because I live in the cold Northeast. I was just saying our car free lifestyles could go a long way or did you miss the part about my wind turbine?
Car Free forever,
Johnny
__________________
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?
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?
09-16-06, 06:15 PM
#32
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Originally Posted by slagjumper
I dont mind if the price of oil goes up. But it would mean that there would be more sickness, higher death rates, lower birth rates. People would spend more on gas and less on food and medical care.
09-17-06, 01:26 PM
#33
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Originally Posted by Tightwad
Sorry, mate. Forgot my meds that day.
Peace I understand. We need to do more about the worlds oil consumptions as I need to do more about my own oil consumptions. I have started, I wish many more would do the same as we have done.
In the fight with you,
Johnny
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