Drill here, drill now... prophetic

#1
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sjt18

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#1
The unrest in the M.E. and Obama's tepid response may send oil prices skyrocketing. Had new on shore and shallow water drilling begun 2-4 years ago... many of the wells would be coming on line now.

The consequences of liberal idealism will once again hurt the American people. Wonder how Obama and the MSM will manage to blame this on Bush?
 
#3
#3
There isn't enough oil here to make much of a difference. I don't know why people don't get that.

I realize now someone will reply with rosy-looking huge estimates of various oil deposits, but if they do the math of US consumption against them, they'll realize our appetite is just too big to be satiated on domestic supplies, or even in large part by domestic supplies.
 
#4
#4
even a small domestic increase in supply can have a sizable effect on the oil price.
 
#6
#6
IPorange said:
There isn't enough oil here to make much of a difference. I don't know why people don't get that.

I realize now someone will reply with rosy-looking huge estimates of various oil deposits, but if they do the math of US consumption against them, they'll realize our appetite is just too big to be satiated on domestic supplies, or even in large part by domestic supplies.
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you don't know what your talking dude.
 
#8
#8
IIRC, official reserve estimates only include the "proved" sources. Where exploration has been prohibited at the behest of environmental groups, there is oil... we just do not know the exact amount. This would include potentially rich fields off of Florida, California, and in the Rockies.
 
#9
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sjt18 said:
IIRC, official reserve estimates only include the "proved" sources. Where exploration has been prohibited at the behest of environmental groups, there is oil... we just do not know the exact amount. This would include potentially rich fields off of Florida, California, and in the Rockies.
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Why do conservatives think that there is a left-wing conspiracy keeping us from being the new Saudi Arabia?


Unless you want to start doing crap with oil shale and have the nasty problems Alberta is dealing with, we simply don't have as much oil as the Palin-types seem to believe.
 
#11
#11
FWIW, we produce about 9 million barrels per day and use about 18 million per day. Libya produces about 1.5 million barrels per day. That IS an amount that could have been significantly offset by increased domestic exploration and drilling.
 
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IPorange said:
Why do conservatives think that there is a left-wing conspiracy keeping us from being the new Saudi Arabia?


Unless you want to start doing crap with oil shale and have the nasty problems Alberta is dealing with, we simply don't have as much oil as the Palin-types seem to believe.
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I don't. I simply don't want to be held hostage by these types of countries. We have significant oil reserves and "unproved" reserves.

FTR, I would much rather see FL and CA bite the bullet a tad on their tourism so we could get at the better, safer shallow water wells.

The simple, direct fact is that any additional oil we might be producing would help stabilize the world market.
 
#13
#13
Ok here's my question.. If there's no oil here why is china and others in the gulf drilling? Also, if they can do it and we fund it, why not us?
 
#14
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joevol320 said:
well dumb***, there has been countless tests and estimates that show we have enough oil for way over 50+ years.

as i say, you don't know what the hell you're talking about.
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Link? Or numbers? Often claims like that are made, but they cross two different variables: amount that can be produced per day, and the amount of days extraction will last. Thus, it will be preported that it x million barrels of oil will last 50 years, when if you do the math x million barrels wouldn't supply the US for a year. It is that the well will be active and thus supplying oil for 50 years.

Don't take my word for it, go back and crunch it yourself.
 
#15
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sjt18 said:
I don't. I simply don't want to be held hostage by these types of countries. We have significant oil reserves and "unproved" reserves.

FTR, I would much rather see FL and CA bite the bullet a tad on their tourism so we could get at the better, safer shallow water wells.

The simple, direct fact is that any additional oil we might be producing would help stabilize the world market.
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For how long? Cheaper prices = more consumption = the sooner we get to a supply demand crunch again. All of this talk isn't even a solution, but rather just punting the ball a few more years.
 
#17
#17
We could probably get a number of genuine "experts" together and they could nearly come to blows over disagreements on "how much", "how long" and the like but I see precious little downside to being "more" oil independent than we are now. (again, with the degree of "more" open to debate)

It's my understanding we're not in all that great a shape from the refining side at the moment either.
 
#18
#18
VolsNSkinsFan said:
Bakken Oil Field in North Dakota has 24 billion barrels

Continental: Bakken's giant scope underappreciated - Oil & Gas Journal
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And it's being currently tapped. So prices will now be stable, right? right?

Huh.


24 billion a year.

Droski stated the US consumes 18 million a day.

18 million x 365.25 = 6,574,500,000. So this whole giant field is enough to supply the US's total needs for 4 years and some change. And it's the biggest field found in the last 30 or 40 years, according to your article. And this is assuming that demand stays the same.

Doesn't seem like very much to me, compared to all of that.
 
#19
#19
I don't think anyone is claiming the US can supply all it needs or is the next Saudi Arabia.

However, allowing the exploration and access to what we have makes sense to me.

IP you seem to be saying that the US doesn't have enough so we shouldn't bother. I just don't get the second part of the argument.
 
#20
#20
we're sending billions and billions of dollars overseas, think how many union and non union workers could be hired by private companies if we could build more plants, refinaries, etc... We could help pay some of our massive debt off a little quicker.
 
#21
#21
I'm saying we are creating a temporary band aid by tapping out all domestic supply available, and in the end it will leave us more vulnerable than ever.

Also, there are many valuable industrial uses for oil besides combusting it for fuel.

I don't think it is a good idea to whistle by the graveyard, chop down the last tree of a forest in winter, and pretend like we aren't setting ourselves up to freeze to death tomorrow.
 
#22
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joevol320 said:
we're sending billions and billions of dollars overseas, think how many union and non union workers could be hired by private companies if we could build more plants, refinaries, etc... We could help pay some of our massive debt off a little quicker.
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How will that help us pay our debt quicker?
 
#24
#24
IPorange said:
I'm saying we are creating a temporary band aid by tapping out all domestic supply available, and in the end it will leave us more vulnerable than ever.

Also, there are many valuable industrial uses for oil besides combusting it for fuel.

I don't think it is a good idea to whistle by the graveyard, chop down the last tree of a forest in winter, and pretend like we aren't setting ourselves up to freeze to death tomorrow.
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I don't follow why more exploration and extraction makes us more vulnerable then not exploring and extracting.
 
#25
#25
sjt18 said:
The unrest in the M.E. and Obama's tepid response may send oil prices skyrocketing. Had new on shore and shallow water drilling begun 2-4 years ago... many of the wells would be coming on line now.

The consequences of liberal idealism will once again hurt the American people. Wonder how Obama and the MSM will manage to blame this on Bush?
Click to expand...


Well, let's see. You are critical of a lack of starting wells 2-4 years ago, so that would be during the presidency of ....
 
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