$100 A Barrel Oil is on the Way

#1,276
#1,276
I don't recall advocating more oil imports, rather that there isn't that much oil offshore relative to growing domestic demand.
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#1,277
#1,277
IPorange said:
I don't recall advocating more oil imports, rather that there isn't that much oil offshore relative to growing domestic demand.
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every drop helps and i definetly think we have enough untapped domestic oil reserves to make a rather sizable dent in our mid east oil reliance.
 
#1,278
#1,278
volinbham said:
It's more fun to ignore facts to make political points and support our own views.

spoil sport.
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Facts are there isn't much to be gained by expanding drilling there, and we are at the beginning of a multibillion dollar catastrophe.
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#1,280
#1,280
IPorange said:
I don't recall advocating more oil imports, rather that there isn't that much oil offshore relative to growing domestic demand.
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You may be right, but I doubt it. Last year, my company made the biggest discovery in the Gulf of Mexico history. Considering that there has been drilling in the Gulf for over half a century, that is pretty amazing.

The only other option is to cut back on consumption. When you sell your car and buy a horse, I will take you more seriously.....:hi:
 
#1,281
#1,281
overseasorange2 said:
You may be right, but I doubt it. Last year, my company made the biggest discovery in the Gulf of Mexico history. Considering that there has been drilling in the Gulf for over half a century, that is pretty amazing.

The only other option is to cut back on consumption. When you sell your car and buy a horse, I will take you more seriously.....:hi:
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I don't own a car and bike everywhere, actually. Thanks for now taking me seriously. :)
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#1,283
#1,283
overseasorange2 said:
You may be right, but I doubt it. Last year, my company made the biggest discovery in the Gulf of Mexico history. Considering that there has been drilling in the Gulf for over half a century, that is pretty amazing.

The only other option is to cut back on consumption. When you sell your car and buy a horse, I will take you more seriously.....:hi:
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let's also not forget that we have retapped a bunch of wells thought before to tapped out. the technological advances are unbelievable.
 
#1,285
#1,285
Sure, there is more theoretical domestic oil, but at what cost? Some of the stuff mentioned above only makes economic sense at prices well above $100/barrel.

Those of you talking oil independence must be assuming $6 or $7 a gallon gasoline.
 
#1,287
#1,287
Velo Vol said:
Sure, there is more theoretical domestic oil, but at what cost? Some of the stuff mentioned above only makes economic sense at prices well above $100/barrel.

Those of you talking oil independence must be assuming $6 or $7 a gallon gasoline.
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There is a ton of it.

We call it Alaska.
 
#1,288
#1,288
there's also trillions of cubic feet of natural gas in the US. T. Boone Pickens is a little nutty for thinking that wind energy was going to be cost effective, but he's right on the money with natural gas, especially his desire to convert the US commercial truck fleet to NG.
 
#1,289
#1,289
btw, it's been well over a week since the oil rig exploded and the Obama administration has done little, if anything.

Where are all the people who *****ed about the Bush admin's slow response to Katrina? I'm hoping you'll be consistent, but I won't be surprised if you're not.
 
#1,290
#1,290
Velo Vol said:
Sure, there is more theoretical domestic oil, but at what cost? Some of the stuff mentioned above only makes economic sense at prices well above $100/barrel.

Those of you talking oil independence must be assuming $6 or $7 a gallon gasoline.
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Not oil independence, but definitely less dependent.
 
#1,293
#1,293
@IP - awesome. :thumbsup:

ANWR represents about 10 days of supply in the neoliberal world.

There was a good reason for not allowing deep water drilling before. I find the theory that the whole culture suffers from post-traumatic stress disorder compelling if we really want to go round two on completely destroying the Gulf of Mexico.

IP is certainly right that the supplies of conventional oil are just about half-gone (see my ORNL data thread for some interesting data on production the last 10 years). I was talking to a guy at Schlumberger who thought some of the unconventional stuff could be extracted at $80 / barrel. I didn't have enough data to dispute.

But, I do have enough data to say, it is absolutely infantile to try to extract it. We will cook the planet and destroy the planet's biodiversity. LEAVE IT IN THE GROUND. We have three generations of work retooling our economy (work that should have begun three generations ago....), and we have half the conventional supplies left. We'd better get working on real solutions - and fast.
 
#1,294
#1,294
utgibbs said:
@IP - awesome. :thumbsup:

ANWR represents about 10 days of supply in the neoliberal world.

There was a good reason for not allowing deep water drilling before. I find the theory that the whole culture suffers from post-traumatic stress disorder compelling if we really want to go round two on completely destroying the Gulf of Mexico.

IP is certainly right that the supplies of conventional oil are just about half-gone (see my ORNL data thread for some interesting data on production the last 10 years). I was talking to a guy at Schlumberger who thought some of the unconventional stuff could be extracted at $80 / barrel. I didn't have enough data to dispute.

But, I do have enough data to say, it is absolutely infantile to try to extract it. We will cook the planet and destroy the planet's biodiversity. LEAVE IT IN THE GROUND. We have three generations of work retooling our economy (work that should have begun three generations ago....), and we have half the conventional supplies left. We'd better get working on real solutions - and fast.
Click to expand...

Wow. Just wow...
 
#1,296
#1,296
In the barbershop yesterday and they were in there complaining about gasoline going over $3. They said that it could get up to $5 by the summer.

They were just shaking their heads. But...

I can remember 3-4 years ago when we had gas above $4, they couldn't wait to blame GWB and his Big Oil buddies for the prices going up.

But now, no one wants to blame Obama?
 
#1,297
#1,297
Rasputin_Vol said:
In the barbershop yesterday and they were in there complaining about gasoline going over $3. They said that it could get up to $5 by the summer.

They were just shaking their heads. But...

I can remember 3-4 years ago when we had gas above $4, they couldn't wait to blame GWB and his Big Oil buddies for the prices going up.

But now, no one wants to blame Obama?
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I didn't blame W; the writing has been on the wall since 1973 when US production peaked.

ORNL data is certainly on a plateau for last five years. My guess is the guys who said it world peak would come sooner rather than later are looking smarter every day.
 
#1,300
#1,300
Sorry guys but im hoping it stays high for a bit! Production testing out here in so cal. If it stays high daddy might get to pay off the boat and join the vol navy!
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