$100 A Barrel Oil is on the Way

#1,227
#1,227
overseasorange2 said:
Back in the 80's I remember my company paying $ 1,000,000 for the rights to shoot a seismic survey over someone's oyster lease. These folks have benefited greatly from the oil industry in their state.
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Sure doesn't look like it. At least, by judging from the majority of the people there.
 
#1,228
#1,228
IPorange said:
Perhaps, but there isn't nearly enough oil offshore to eliminate middle eastern imports. Or even cut them half (yes, I am speculating on that last part).
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I love it when people share their expertise with us.

U.S. Oil Reserves Get a Big Boost - washingtonpost.com

Giant oil find by BP reopens debate about oil supplies | Business | guardian.co.uk

And that is on top of what we thought was there as of 12/31/2001.

Estimated Oil and Gas Reserves Gulf of Mexico Outer Continental Shelf, December 31, 2001 - OCS Study MMS 2004-073

For the past 6 months the U.S. has averaged 8.6 million bbls imported per day.

U.S. Imports of Crude Oil and Petroleum Products
 
#1,229
#1,229
KentheOrange said:
I love it when people share their expertise with us.

U.S. Oil Reserves Get a Big Boost - washingtonpost.com

Giant oil find by BP reopens debate about oil supplies | Business | guardian.co.uk

And that is on top of what we thought was there as of 12/31/2001.

Estimated Oil and Gas Reserves Gulf of Mexico Outer Continental Shelf, December 31, 2001 - OCS Study MMS 2004-073

For the past 6 months the U.S. has averaged 8.6 million bbls imported per day.

U.S. Imports of Crude Oil and Petroleum Products
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You're going to have to spell it out for me. I'm just a big dummy who thinks we consume over 20 million barrels a day in this country alone.

Oil consumption (most recent) by country

So I fail to see how these (UNPROVEN) reserve estimates make my statement wrong.

But I am sure you'll provide your "expertise" yourself.
 
#1,230
#1,230
so obviously we need to bring all the oil execs to washington. that will change everything! damn these capitalist pigs!

Oil Execs Called To Testify Before Congress On Gulf Coast Spill, Consumer Pricing

love this part too:

Four dollar gasoline helped break our economy's back. And now, just as we are starting a recovery, the price of gas is creeping back towards three dollars, threatening the budgets of families and small businesses across the nation," said Rep. Markey. "We need to craft a comprehensive strategy that protects consumers, and our nation's oil companies must join us in that effort."
 
#1,231
#1,231
droski said:
so obviously we need to bring all the oil execs to washington. that will change everything! damn these capitalist pigs!

Oil Execs Called To Testify Before Congress On Gulf Coast Spill, Consumer Pricing

love this part too:

Four dollar gasoline helped break our economy's back. And now, just as we are starting a recovery, the price of gas is creeping back towards three dollars, threatening the budgets of families and small businesses across the nation," said Rep. Markey. "We need to craft a comprehensive strategy that protects consumers, and our nation's oil companies must join us in that effort."
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There's no need. Kentheorange has demonstrated that there is no oil shortage in America. All we need is in the gulf. He's solved the crisis of foreign dependence, with links to 2001. He sure showed me.
 
#1,232
#1,232
BP, which owns the sunken rig, reported a first quarter net profit of $6.08 billion, an increase of 137 percent.
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Should go a long ways toward paying for cleanup.

Wait, who am I kidding?
 
#1,234
#1,234
IPorange said:
You're going to have to spell it out for me. I'm just a big dummy who thinks we consume over 20 million barrels a day in this country alone.

Oil consumption (most recent) by country

So I fail to see how these (UNPROVEN) reserve estimates make my statement wrong.

But I am sure you'll provide your "expertise" yourself.
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Do you really not understand the difference between what we "consume" and what we "import"?

Your statement was that there is not enough petroleum in the gulf to make a difference in our imports. If you will read the links you will notice that is not true. In addition to the Gulf you have reserves in the Atlantic, the Pacific and onshore. We could be energy independent if the politicians allowed it.
 
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#1,236
#1,236
KentheOrange said:
Do you really not understand the difference between what we "consume" and what we "import"?

Your statement was that there is not enough petroleum in the gulf to make a difference in our imports. If you will read the links you will notice that is not true. In addition to the Gulf you have reserves in the Atlantic, the Pacific and onshore. We could be energy independent if the politicians allowed it.
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Those numbers don't crunch. We CAN'T be energy dependent, as long as we consume as much oil as we do.

20,000,000 barrels a day X 365.25 days a year = 7,305,000,000 barrels a year.

Your link estimated a little over 4,000,000,000 barrels were down there in 2001, plus the additional discoveries you linked which were unproven, but one was said to be about 3 billion, and the other being possibly as much as 4 billion.

So we have 14,000,000 barrels in the gulf (enough to supply us completely for only 2 years at present consumption), minus whatever we have extracted over the last nine years.

IF we had been extracting 8.6 million barrels a day all this time since 2001, as your link says we are doing now:

(8,600,000 barrels X 365.25 days) X 9 years = 28,270,350,000.

In other words, more than even the best case scenario for what they think is down there right now with unproven reserves. Could there be more than that down there? Possibly. But as you can see, even if we could magically transport every last drop to the mainland, and there was twice as much as we think, it wouldn't be enough to meet our current needs. Even if you tap all the other coastal deposits, and drill ANWR, etc., we wouldn't be able to meet all of our needs for very long.

Sorry.
 
#1,237
#1,237
IPorange said:
Those numbers don't crunch. We CAN'T be energy dependent, as long as we consume as much oil as we do.

20,000,000 barrels a day X 365.25 days a year = 7,305,000,000 barrels a year.

Your link estimated a little over 4,000,000,000 barrels were down there in 2001, plus the additional discoveries you linked which were unproven, but one was said to be about 3 billion, and the other being possibly as much as 4 billion.

So we have 14,000,000 barrels in the gulf (enough to supply us completely for only 2 years at present consumption), minus whatever we have extracted over the last nine years.

IF we had been extracting 8.6 million barrels a day all this time since 2001, as your link says we are doing now:

(8,600,000 barrels X 365.25 days) X 9 years = 28,270,350,000.

In other words, more than even the best case scenario for what they think is down there right now with unproven reserves. Could there be more than that down there? Possibly. But as you can see, even if we could magically transport every last drop to the mainland, and there was twice as much as we think, it wouldn't be enough to meet our current needs. Even if you tap all the other coastal deposits, and drill ANWR, etc., we wouldn't be able to meet all of our needs for very long.

Sorry.
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But we can minimize our dependance on other countries...
 
#1,238
#1,238
I have worked as a geologist in the oil business for 30 years now. I can tell you that the advances in our technology are light years ahead of what they were in 1981. In the early 80's, nobody thought there were sands in the water depths they drill now, much less oil reservoirs. In addition, the advances in 3D/4D seismic, geomodeling and reserve simulation have resulted in the delineation of many opportunities in the older fields. The future is bright,,,,,,,
 
#1,239
#1,239
overseasorange2 said:
I have worked as a geologist in the oil business for 30 years now. I can tell you that the advances in our technology are light years ahead of what they were in 1981. In the early 80's, nobody thought there were sands in the water depths they drill now, much less oil reservoirs. In addition, the advances in 3D/4D seismic, geomodeling and reserve simulation have resulted in the delineation of many opportunities in the older fields. The future is bright,,,,,,,
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By definition, a future of indefinite combustion of fossil fuel is dim.
 
#1,245
#1,245
I just realized that the Exxon Valdez spill was 11,000,000 gallons (I thought that I had previously read barrels, and I don't have a good enough sense of scale to know if that was insane). Anyway, I had originally thought that it would take a year of this leak to rival the Valdez based on that number. But, this well is leaking about 200,000 gallons a day, so if left unchecked for a month and a half it could exceed the Exxon Valdez spill.
 
#1,248
#1,248
TennTradition said:
I just realized that the Exxon Valdez spill was 11,000,000 gallons (I thought that I had previously read barrels, and I don't have a good enough sense of scale to know if that was insane). Anyway, I had originally thought that it would take a year of this leak to rival the Valdez based on that number. But, this well is leaking about 200,000 gallons a day, so if left unchecked for a month and a half it could exceed the Exxon Valdez spill.
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I heard 50k.
 
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