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Oil, Oil and more oil
If we could only have access to the Gulf of Mexico.
A good article about the Gulf and it's oil:
http://www.nytimes.com/2006/11/08/business/worldbusiness/08gulf.
Html
As oil consumption grows and access to most oil-rich regions becomes increasingly restricted, companies are venturing farther out to sea, drilling deeper than ever in their quest for energy.
The next oil frontier — and the next great challenge for oil explorers — lies below 10,000 feet of water, through five miles of hard rock, thick salt and tightly packed sands.
Oil discoveries we aren't allowed to use:
http://www.rumormillnews.com/cgi-bin/archive.cgi/noframes/read/8 7888
We can't use it for enviromental reasons.
WASHINGTON — The United States has an oil reserve at least three times that of Saudi Arabia locked in oil-shale deposits beneath federal land in Colorado, Utah and Wyoming, according to a study released yesterday.
http://blogs.moneycentral.msn.com/topstocks/archive/2008/04/10/n orth-dakota-oil-discovery-called-biggest-in-u-s.aspx
Around 105 million barrels of oil had been produced from the Bakken through the end of 2007, so the idea that energy producers may get 40 times that amount has brought a lot of attention to the area’s top drillers and leaseholders.
http://www.news.cornell.edu/Chronicle/03/4.3.03/ACS-Cathles.html
"The undiscovered gas and oil potential of the Gulf of Mexico is very large," said Cathles.
"We have produced only a small fraction, and the deep-water potential for finding more there is big.
In terms of potential, it is bigger than the North Sea.
It's about a big a deal as there is."
So my contention is that we need to get rid of these restrictions in the Gulf and the shales of Colorado and Nebraska and our oil production will surpass that of Saudi Arabia
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I just posted this in another thread.
But it should help you out.
This EIA report explains why OCS drilling would be an insignificant impact oil prices.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.
Leasing would begin no sooner than 2012, and production would not be expected to start before 2017.
Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day.
For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20).
Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Source.
I highly recommend reading the entire article.
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And this guy is a retard.
"WASHINGTON — The United States has an oil reserve at least three times that of Saudi Arabia locked in oil-shale deposits beneath federal land in Colorado, Utah and Wyoming, according to a study released yesterday.
http://blogs.moneycentral.msn.com/topstocks/archive/2008/04/10/n orth-dakota-oil-discovery-called-biggest-in-u-s.aspx
Around 105 million barrels of oil had been produced from the Bakken through the end of 2007, so the idea that energy producers may get 40 times that amount has brought a lot of attention to the area’s top drillers and leaseholders."
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Why increase production when the use is going down?
(per VanArsdall's thread) Another example was Bush trying to push the Saudis to increase production and they rejected his offer, claiming they are meeting all demands.
The only reason we have to increase production is so it will look great in the eyes of the investors.
So long as the market eases speculators minds, the public will ignore oil as a dying and volatile resource.
Waste of money and time to penis waving contest with the Saudis over production.
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Why can't people get that fucking Bakken story right?
4.3 billion barrels IS NOT THREE TIMES THE AMOUNT OF SAUDI RESERVES...
~250 Billion barrels.
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Max Fischer, President Rushmore Atabrine Society:
I just posted this in another thread.
But it should help you out.
This EIA report explains why OCS drilling would be an insignificant impact oil prices.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.
Leasing would begin no sooner than 2012, and production would not be expected to start before 2017.
Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day.
For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20).
Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Source.
I highly recommend reading the entire article.
Did you read that article?
The whole article is based on the unrestricted output and what it has produced, and assumes it will be the same amount as the restricted area.
What I posted were studies and FINDINGS in those restricted areas.
THEY ARE NOT ASSUMPTIONS, which is what the article you posted is.
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Groucho Marxist:
Why increase production when the use is going down?
(per VanArsdall's thread) Another example was Bush trying to push the Saudis to increase production and they rejected his offer, claiming they are meeting all demands.
The only reason we have to increase production is so it will look great in the eyes of the investors.
So long as the market eases speculators minds, the public will ignore oil as a dying and volatile resource.
Waste of money and time to penis waving contest with the Saudis over production.
To me it's about getting off foreign dependence on oil not just reducing costs.
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JP:
Max Fischer, President Rushmore Atabrine Society:
I just posted this in another thread.
But it should help you out.
This EIA report explains why OCS drilling would be an insignificant impact oil prices.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.
Leasing would begin no sooner than 2012, and production would not be expected to start before 2017.
Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day.
For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20).
Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Source.
I highly recommend reading the entire article.
Did you read that article?
The whole article is based on the unrestricted output and what it has produced, and assumes it will be the same amount as the restricted area.
What I posted were studies and FINDINGS in those restricted areas.
THEY ARE NOT ASSUMPTIONS, which is what the article you posted is.
From your own article:
"Even after hitting pay dirt, it will take another decade and billions of dollars to transform oil from these ultra-deep reserves into gasoline.
Some of the technology to pump the sludge from these depths, at these pressures and temperatures, has not yet been developed;
Only about a dozen ships can drill wells that deep, and no one knows for sure how much oil is down there."
and "The most optimistic estimates???
Srsly??
"According to the most optimistic estimates, there could be 40 billion barrels of undiscovered reserves in the deep water, which starts at about 1,500 feet, enough to satisfy American consumption for more than five years."
and
"These reserves might lift the offshore output to 2.2 million barrels a day by 2012, up from 1.5 million barrels today.
Still, that’s a drop in the bucket.
Even as the deepwater resources are developed, the nation is expected to continue to import more than two-thirds of the 20 million barrels of oil it consumes each day."
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Max Fischer, President Rushmore Atabrine Society:
Why can't people get that fucking Bakken story right?
4.3 billion barrels IS NOT THREE TIMES THE AMOUNT OF SAUDI RESERVES...
~250 Billion barrels.
You're a liar:
A 2005 estimate set the total world resources of oil shale at 411 gigatons — enough to yield 2.8 to 3.3 trillion barrels (520 km³) of shale oil.[2][3][4][5]
The largest deposits in the world are found in the United States in the Green River basin, which covers portions of Colorado, Utah, and Wyoming;
About 70% of this resource is located on federally owned or managed land.[22] Deposits in the United States constitute 62% of world resources;
I think that is a bit more than what the Saudis have.
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Max Fischer, President Rushmore Atabrine Society:
JP:
Max Fischer, President Rushmore Atabrine Society:
I just posted this in another thread.
But it should help you out.
This EIA report explains why OCS drilling would be an insignificant impact oil prices.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.
Leasing would begin no sooner than 2012, and production would not be expected to start before 2017.
Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day.
For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20).
Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Source.
I highly recommend reading the entire article.
Did you read that article?
The whole article is based on the unrestricted output and what it has produced, and assumes it will be the same amount as the restricted area.
What I posted were studies and FINDINGS in those restricted areas.
THEY ARE NOT ASSUMPTIONS, which is what the article you posted is.
From your own article:
"Even after hitting pay dirt, it will take another decade and billions of dollars to transform oil from these ultra-deep reserves into gasoline.
Some of the technology to pump the sludge from these depths, at these pressures and temperatures, has not yet been developed;
Only about a dozen ships can drill wells that deep, and no one knows for sure how much oil is down there."
and "The most optimistic estimates???
Srsly??
"According to the most optimistic estimates, there could be 40 billion barrels of undiscovered reserves in the deep water, which starts at about 1,500 feet, enough to satisfy American consumption for more than five years."
and
"These reserves might lift the offshore output to 2.2 million barrels a day by 2012, up from 1.5 million barrels today.
Still, that’s a drop in the bucket.
Even as the deepwater resources are developed, the nation is expected to continue to import more than two-thirds of the 20 million barrels of oil it consumes each day."
And that is only one source.
If we tap everything we could say FUCK YOU to the MIddle East and leave them alone.
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JP:
Max Fischer, President Rushmore Atabrine Society:
Why can't people get that fucking Bakken story right?
4.3 billion barrels IS NOT THREE TIMES THE AMOUNT OF SAUDI RESERVES...
~250 Billion barrels.
You're a liar:
A 2005 estimate set the total world resources of oil shale at 411 gigatons — enough to yield 2.8 to 3.3 trillion barrels (520 km³) of shale oil.[2][3][4][5]
The largest deposits in the world are found in the United States in the Green River basin, which covers portions of Colorado, Utah, and Wyoming;
About 70% of this resource is located on federally owned or managed land.[22] Deposits in the United States constitute 62% of world resources;
I think that is a bit more than what the Saudis have.
Once again, and from YOUR OWN ARTICLE:
"According to a government report published today that has stunned the energy biz, a thin layer of rock known as the Bakken Shale, located a couple of miles under the Badlands, holds up 4.3 billion barrels of recoverable oil, making it the single largest oil reservoir that federal scientists have ever assessed."
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JP:
Max Fischer, President Rushmore Atabrine Society:
JP:
Max Fischer, President Rushmore Atabrine Society:
I just posted this in another thread.
But it should help you out.
This EIA report explains why OCS drilling would be an insignificant impact oil prices.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.
Leasing would begin no sooner than 2012, and production would not be expected to start before 2017.
Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day.
For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20).
Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Source.
I highly recommend reading the entire article.
Did you read that article?
The whole article is based on the unrestricted output and what it has produced, and assumes it will be the same amount as the restricted area.
What I posted were studies and FINDINGS in those restricted areas.
THEY ARE NOT ASSUMPTIONS, which is what the article you posted is.
From your own article:
"Even after hitting pay dirt, it will take another decade and billions of dollars to transform oil from these ultra-deep reserves into gasoline.
Some of the technology to pump the sludge from these depths, at these pressures and temperatures, has not yet been developed;
Only about a dozen ships can drill wells that deep, and no one knows for sure how much oil is down there."
and "The most optimistic estimates???
Srsly??
"According to the most optimistic estimates, there could be 40 billion barrels of undiscovered reserves in the deep water, which starts at about 1,500 feet, enough to satisfy American consumption for more than five years."
and
"These reserves might lift the offshore output to 2.2 million barrels a day by 2012, up from 1.5 million barrels today.
Still, that’s a drop in the bucket.
Even as the deepwater resources are developed, the nation is expected to continue to import more than two-thirds of the 20 million barrels of oil it consumes each day."
And that is only one source.
If we tap everything we could say FUCK YOU to the MIddle East and leave them alone.
It is not possible to just TAP EVERYTHING.
And its incredibly expensive.
We don't know that even if we tap everything we can match our 20 million barrels a day consumption.
You have to pay attention to the details, not just the exciting headlines such as total amounts.
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JP:
Max Fischer, President Rushmore Atabrine Society:
I just posted this in another thread.
But it should help you out.
This EIA report explains why OCS drilling would be an insignificant impact oil prices.
"The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.
Leasing would begin no sooner than 2012, and production would not be expected to start before 2017.
Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day.
For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20).
Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Source.
I highly recommend reading the entire article.
Did you read that article?
The whole article is based on the unrestricted output and what it has produced, and assumes it will be the same amount as the restricted area.
What I posted were studies and FINDINGS in those restricted areas.
THEY ARE NOT ASSUMPTIONS, which is what the article you posted is.
Oh, and I missed this the first time.
I wouldn't have mentioned it, but you made such a point of bolding it for me.
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My contention is this is backwards thinking....reinventing the cart and horse just before the car was invented.
If all the restrictions were dropped and drilling started tomorrow, the first oil would be on line for a dozen years.
We need to work on alternatives, not antiquated thinking.
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JP:
Max Fischer, President Rushmore Atabrine Society:
Why can't people get that fucking Bakken story right?
4.3 billion barrels IS NOT THREE TIMES THE AMOUNT OF SAUDI RESERVES...
~250 Billion barrels.
You're a liar:
A 2005 estimate set the total world resources of oil shale at 411 gigatons — enough to yield 2.8 to 3.3 trillion barrels (520 km³) of shale oil.[2][3][4][5]
The largest deposits in the world are found in the United States in the Green River basin, which covers portions of Colorado, Utah, and Wyoming;
About 70% of this resource is located on federally owned or managed land.[22] Deposits in the United States constitute 62% of world resources;
I think that is a bit more than what the Saudis have.
Oil shale is not the same thing as light sweet crude oil.
You know this is true yet you insist on spewing your Cornucopian bullshit here.
I'm sick of it.
In Saudi Arabia, all you do is stick a pipe into the ground and up comes high quality crude at about $1-$2 a barrel.
No one has figured out how to process oil shale economically yet, and it's even harder to produce than the tar sands in Canada, which require massive amounts of fresh water and natural gas to produce, not to mention tens of billions of dollars of infrastructure investment, and practically nuking the area where it is dug up (Alberta).
Do you think there are massive amounts of fresh water available in Colorado?
I didn't think so.
As for the Bakken deposits, it is very difficult to utilize those resources, they've been trying for a long time.
And that's the main point about peak oil ...
It doesn't matter how much oil there is, it matters how quickly you can get it out of the ground and if producing it is economically, geologically, and thermodynamically viable.
The amount of methane hydrates in the world dwarfs all the oil shale, crude oil, tar sands, etc.
-- but no one has figured out how to exploit the resource, and we may never.
Just because a resource is there doesn't mean it's useful anytime soon.
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