User Panel
jq.....how about the environment (ala ANWAR). I believe Clinton and the left in general, blow the crown princes cock just as hard...no? |
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Once the technology advances to where it's cheap to go after, we'll be drilling there. In the '80s, deepwater drilling was expensive. When the oilfield shut down in '85-'86, the shallow water jackups were mostly still drilling while the semi's were stacked. When things dropped again in '98, the jackups were out of work and the floaters were going good. It had to do with technology and costs. When you do something for the first time, it costs more. Deepwater used to be expensive. Now we're going deeper every day and floaters and DP rigs are in high demand. Hell, my company is upgrading one floater for a 10,000' water depth and building 2 new jackups.
Once they figure a way to do it fairly cheap, expect to see a lot of derricks in CO. |
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Sure he did. Both political parties are little limp dicks when it comes to energy, although the left has looked more seriously at alternative fuels while at the same time acting ailly with their fear of nuke plants. ANWR's oil reserves are purely speculative and might end up being more trouble than it's worth, but I wouldn't care either way if they drilled it or not. |
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This is old news. We have known for quite some time about this. It was the cost of extracting it that stopped us. I think this may be a small part of the reason that Bush is letting oil prices get out of hand: So we eventually depend upon ourselves for oil. Because we can't attack a country that sells us our oil (Saudi Arabia is on the "Evil" list, by the way).
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It's been general knowledge for a long time that there is huge amounts of oil in various parts of the world in difficult to extract forms. We've been trying to tell the Peak Oil whackoes this for years. Let me go through it real quick again:
There is no magic point at which we will run out of oil. There is enormous amounts of oil all over the world, only some deposits are harder to get to then others. We've been producing from all of the "easy" resevoirs so far. What will happen is that oil prices will gradually rise (due to the continuous increases in demand, and the increasing cost of production), and we will have the financial incentive and technology to produce the harder to get resevoirs. The slow rise in the price of oil will create increasing incentive to research and implement other sources of energy. At some point, some other energy source will become more economical then oil, and oil use will dwindle to almost nothing. Then, we'll do the whole thing all over again. And BTW, the Saudis do have a substantial amount of oil, but it isn't all the oil in the world, and they don't have any special control over the market. Then can either produce more, or they can produce less. Producing more will tend to drop the market price slightly, and producing less will tend to raise it slightly. Their ability to do this decreases as other countries supply more oil, and as we stabilize the other oil-producing countries in the middle east. |
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They is extensive drilling going on in western kansas right now. I know one man who said his company alone was drilling 290 wells in one county alone. They are also getting some very good wells. One was hit about a month ago which is producing so much oil they had to bring in a special pump to handle the volumn. |
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After seeing what gas prices are at $70 a barrel $50 a barrel sounds damn good. Now if the GOP would grow some balls and start repealing stupid ass control legislation. |
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If Mexico is selling that much oil to us, how can they possibly remain such a complete shithole? Jim |
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Those deposits have been known about for 50 years.
To extract the oil from them, you have to spend a LOT of money and a LOT of energy. When we were pulling oil out of the ground in the 1930s, we were getting 100 barrels for each single barrel we used to get the oil. The tar sands in Alberta and Venezuela and the shale in CO yield around 3 barrels of oil for each single barrel we use to get the oil. Furthermore, you use shitloads of fresh water in the tar sands to get steam to heat the sand and extract the oil. My understanding is that the Canucks will need to build 1 to 3 nuclear reactors in Alberta. That's multi-billion dollar investments to get the oil. Gas ain't gonna be $1.50 a gallon when this oil comes onstream. $3 - $6 gas and the "crazy profits the oil companies are making raping us" are what will pay for the infrastructure to bring these oil sources onstream. For the communist set that thinks that profits are evil, they are the things that fund new exploration and development. To really rain on the parade, here are some numbers. According to the Energy Information Agency (www.eia.doe.gov): As of 31 December, Global Proven Producing Crude Oil Reserves were 1 trillion barrels. Now, figure the world goes through 85m bbl/day of oil. That's 31.025 billion barrels in a year. We have 32.2 years of crude oil left. One big caveat. The Saudis' reserve numbers are shit. They don't allow audits of field by field production of their wells and reserves, and just supply the number with zero transparency. When Aramco was US owned in the early 70s, they reported around 120 billion bbl in reserves. When the Saudis took it over in the late 70's, their reserves magically shot up to 260 billion bbl. That's the same number they report today. If we bring the Alberta tar sands, which may have 160 billion bbl, and the Colorado / Wyoming shale deposits into the mix with 500 billion bbl, then world reserves would be 1.66 trillion, that gives us 53.5 years of oil left. In any case, we need to get our shit together and figure out what we're gonna use to drive, fly, make fertilizer, pesticides and plastics with pretty goddamn soon. |
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$50 per barrel works out to a hair over $2 per gallon. A lot better than $3 at $70
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Wouldn't bother me if they use eminent domain to put a few oil derricks on Robert Redford's ranch. |
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We only get 19% of our oil from Saudi Arabia. |
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2 guesses corrupt leadership and Socialism. Think U.S. in early and mid 80's but worse. Rich get richer everyone else can move abroad to a better life. |
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From The Rocky Mountain News:
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Thats amazing... I hope that we can do it. |
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Practical fuel cell technology will make all this business about oil mute.
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No but they do influence the price in a pretty signifigant way. More influence than a terrorist should have anyway. |
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As long as you can figure out where to get the hydrogen and oxygen to run through the fuel cell, sure. Jim p.s.--It wouldn't make it quiet or unable to talk(mute), it would make it moot. |
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Wrong state and its NOT shale oil or tar sands: Major Oil Discovery In Central Utah LAST UPDATE: 5/4/2005 7:56:30 PM SALT LAKE CITY (AP) -- Geologists are calling it a spectacular find in an unlikely place. A tiny oil company says there could be as much as one billion barrels of oil in central Utah. Wolverine Gas and Oil has snapped up leasing rights to a half-million acres in a part of the state that major oil companies gave up on long ago. Geologists are calling it the largest onshore discovery in at least 30 years. The area contains high-quality oil that is already commanding a premium at refineries. But some industry analysts have their doubts. Oppenheimer senior oil analyst Fadel Gheit calls the expectation of one billion barrels "highly unlikely." Industry players expect the find will prompt a bidding war at the next Utah leasing auction in two weeks. |
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www.resourceinvestor.com/pebble.asp?relid=12595 |
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Theve know about the oil shale in Colorado, Utah and Wyoning since at least the past 30-years, just can't economically extract it
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... Oh yeah, you didn't know?
... Utah, Colorado and parts of Wyoming were HUGE dinosaur hang-outs in their day! |
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Great news. We'll have our own oil and the Chinese can fuck with the ME. Can't get much better than that can it?....huh?....c'mon......?
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Thats old, old, old news. We have known about oil shale for a long, long time. In fact there is much more oil in tar sands in Canada. The oil found in Utah is authentic new news. |
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500 billion barrels.
At 9 million a day, that's about 150 years worth of oil. Hopefully we'll put more effort into alternatives (hopefully replacing gasoline in our vehicles with electricity from nuclear sources, much less figuring out a way to power our air and space industries with other forms of energy), so that the petrol will last us much longer than that, and even longer for non-fuel purposes (basically everything that we can't synthesize until we can). |
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Ahhhh right only 1 person from Colorado chimed in,and I just found this thread.
Yes there is drilling,extration going on here.Yes there is opposition,nobody wants a drilling rig in their backyard.Mineral rights are NOT included in the purchase of property,neither are water rights. At least not here in Colorado.Most drilling is for natural gas but also new experimentation on oil shale . Supposedly they tried nuking it out in late early 50's -60's,,guess what it came out radioactive and unsable They both need to be bought seperatly.Save the Roan Plateu Colation is fighting a losing battle ,thanks to the BLMs opening for exploration.Now on top of all this Chinesse rigs are inbound with crews. So not only are people upset about the drilling now we gotta rely on foreign help. Estimated plans are now for another 120-180 more rigs/wells Company's involved Encana,Williams,Haliburton and others http://www.garfield-county.com/home/index.asp?page=594 |
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Im very sorry residents of Colorado. But majority rules in this situation.
Oil is really the only reason we arent going after the real terrorrists in the ME. And oil is the only reason they have money. |
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What the hell do you mean, you don't get mineral/water rights with land in Colorado? That's insane! What, does the deed say you own the soil down to a depth of 3 feet, not including precious metals and gems? Jim |
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Thier influence is to reduce supply. They can temporarily hurt us, but all it it does in the long run is drive us faster to domestic sources to replace them and thus cuts their throats. They don't have the additional capacity to dump enough crude on the market to drive prices below $50 a barrel. Unless they are hiding some huge reserves and keeping them offline that we don't know about. Think about it. Choking supply is counter-productive now. People are already making changes at todays prices of 3 and 4 dollars a gallon. It is causing people to conserve and switch to other means of transport. That means your product would then be priced above maximum profit as you are now facing declining sales due to cost. The only way to affect the price of oil is to adjust supply and all SA can do to adjust is produce less. They don't have nearly the power you think they do. |
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Exactly right. It's a damn shame that info like this can't be released until a crisis emerges because the god-damned environmental wackos wouldn't allow it to be explored during a normal time. Now, I think there is enough public outcry about the price of gas to sail anything regarding oil exploration. |
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Uhm how bout this, And it's cheaper and would create jobs.
May get flamed. Drill Alaska. |
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Barrels will be around $30 in the near future. Forbes told me.
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And gas would still be $2.50 a gallon. |
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Mineral estate is often separated from the surface estate in the Western US. I did a fair amount of mineral property work, lemme know if you have any questions. SRM |
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Yes, there is significant activity on the western slope right now. The Wolverine oil discovery is still being evaluated, no one wants another Busang. The NIMBY's will lose this fight and Colorado will still survive. They did not nuc the oil shale. It is still there and awaiting better extractive technology. SRM |
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MOOT, not Mute. |
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How about we find an alternative source so we dont have to deal with the middle east. Without oil money pouring in it they will become no existant and lessen the threat of terrorism
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VGs is right we need to expand our refineries and deregulate state-by-state regs on gas blends, their are over 40+ blends if we could consolidate down to sat 10 not including ethanol/biodeisel it will make it far cheaper. Also whether we use it great numbers or not we should tap our sources now so in a decade or two when needed it is available. Short of some massive cheap new fuel source other than oil based gas that is viable in current and past combustion engines we will need oil for a long time. The GOP needs to grow balls and deregulate EPA, Fed and State Gov. laws, and expand our capacity. It would only be a good thing if we export nore oil than we import. |
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You can have your acid bath should you get in a bad accident. Problems and not viable shortterm. Even hybrids will only help short-term and we will quickly be where we are now unless we deregulate. |
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Hmmm.....those are different numbers than I have seen. What I have seen indicates the total petroleum reserve is some 2.5 to 3.5 trillion barrels. Approximately 1 to 1.5 trillion barrels on the CO/UT border, primarily in oil shale. To date, we humans have used about 500 billion barrels of petroleum. It is out there. How much do you want to pay? SRM |
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I say drill anywhere to get some prices down to less than $1.80
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Fuel Cells dont use acid. Modery hybrids and LithIon Batteries do not use a liquid acid like led-acid batteries. You are arguing against 21st century technology with a 30 year old strawman. |
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