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  #11  
Old 09-11-2006, 11:31 AM
They They is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.


Quote:
Shadow_ wrote:
A great big bubble? I thought that was your picture!!! I'm sorry Justin.
That was a good one. You are becoming my favorite 13 year old spammer on this site. You slay me. Stop, before I pee my pants laughing.

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  #12  
Old 09-11-2006, 09:48 PM
truebeliever truebeliever is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

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TB, a recent discovery of Oil is south of the southern US states in the ocean, and it will likely take 5 years to develop it. It will be one of the deepest wells in the world. Oil is currently cheap, as cheap as say - a disposable plastic fork.
I heard about this field in the Gulf over a year ago. I've been gob smacked at how it's being portrayed as some sort of "just discovered" field.

There's billions of barrels more in the area...of course you and I wont hear about that just yet. :-)

Quote:
Still, even if there is no end to the amount of oil (think about it, do you really think there was enough biomass to support the vast 'fossil' fuel reserves?) lifting costs are as important as absolute quantity.
True, but at $68 a barrel thats still a HUGE profit!

I do believe oil at a Saudi well head is around $3-$6 a barrel...probably less. I heard back in the late eighties it was just over 50c a barrel at the well head production cost.

In Russia there oil is "sludgy" and of low quality and yet they pump that muck out from deep down at a profit even when a barrel of oil was at $12 a barrel.

Russia BTW is rebuilding there economy at a vast pace with the high price per barrel. Both them and Iran have a HUGE vested interest in keeping the price high by provoking confrontation in the M.E...as does the U.S of course where ALL those petro dollars from the Sheikdoms get invested...not forgetting the City Of London banking establishments either. :-)
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  #13  
Old 09-12-2006, 12:18 AM
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

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OSLO, NORWAY (AP) - Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies announced Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves by as much as 50 percent.

The well was drilled by U.S. oil company Chevron Corp., with partners Statoil ASA of Norway and Devon Energy Corp. of Oklahoma City.

"Test results are very encouraging and may indicate a significant discovery. The full magnitude of the field's potential is still being defined," Statoil said in a statement.

During the test, the well sustained a flow rate of more than 6,000 barrels of oil per day, Statoil said. The Wall Street Journal reported the region where the well is located could become the nation's biggest new domestic source of oil since the discovery of Alaska's North Slope more than a generation ago. The journal said Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico's lower-tertiary formations hold up to 15 billion barrels' worth of oil and gas reserves, a total that would boost the nation's current reserves by 50 percent.
artical

There IS an energy crisis allright. You won't hear about it in the media. It has nothing to do with resources and everything to do with finances.
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  #14  
Old 09-12-2006, 12:44 AM
DoctorX DoctorX is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

This is one of the crisis that they create but they don't have to lift a finger since it is the people who keep the crisis going. Single women driving gas guzzlin suvs, big cars everywhere. The elite must be laughing about it all since we have a crisis that everyone is complaining about yet the people themselves keep making it worse.
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  #15  
Old 09-12-2006, 04:49 AM
They They is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

Quote:
truebeliever wrote:
I heard about this field in the Gulf over a year ago. I've been gob smacked at how it's being portrayed as some sort of "just discovered" field.

There's billions of barrels more in the area...of course you and I wont hear about that just yet. :-)
Well, that is not suprising. The seismic info was in hand and the contracts etc. had to be let for the leases and test wells well in advance of drilling. All this really did was confirm what everyone already knew or suspected.

The bigger question is why are they drilling so deep? There is as much oil and gas in the near offshore areas of the GOM and the Atlantic coast as all the current PnP reserves in the US today.

Unfortunately, it is illegal to drill there. Good, sound environmental protection? Perhaps. Or, a tactic to keep oil 'scarce' and prices high?
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  #16  
Old 09-12-2006, 09:20 PM
truebeliever truebeliever is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

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The bigger question is why are they drilling so deep? There is as much oil and gas in the near offshore areas of the GOM and the Atlantic coast as all the current PnP reserves in the US today.
Keeping up appearences? I dont know.

I do know that you will see Australia emerge over the next ten years as an "energy super power" as our Prime Minister John Howard put it.

I see the M.E being abandoned in the coming years.
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  #17  
Old 09-12-2006, 09:22 PM
truebeliever truebeliever is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

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There IS an energy crisis allright. You won't hear about it in the media. It has nothing to do with resources and everything to do with finances.
True.

"Peak Oil", war etc...all will help in explaining the coming economic collapse.
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  #18  
Old 09-12-2006, 11:41 PM
Stranger Stranger is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

This is second hand info, so...

An acquaintance of mine has a friend of the family that works for a major oil company, believe she said Exxon. Anyway, this employee says the amount of oil in the Gulf of Mexico is just huge. The recent discovery of oil that was in the news recently is just the tip of the iceberg. He feels the cost of a barrel of oil will be falling into the $20ís in the future. I cant see the oil companies letting that happen, but it sure would be nice.

Time to get a Hummer!
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  #19  
Old 09-13-2006, 05:10 AM
They They is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

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Stranger wrote:
He feels the cost of a barrel of oil will be falling into the $20ís in the future. I cant see the oil companies letting that happen, but it sure would be nice.
We will definitely see $20/ bbl oil in the future. We have seen it in the past (heck, we have seen $12 not too long ago). I don't know when, but I would guess it would be the date that the first new nuke in the US goes on line, given the history of utilities missing the market.
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  #20  
Old 09-13-2006, 08:08 PM
truebeliever truebeliever is offline
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Default Re: The "Peak Oil" Fraud - An Industry Publication.

Quote:
An acquaintance of mine has a friend of the family that works for a major oil company, believe she said Exxon. Anyway, this employee says the amount of oil in the Gulf of Mexico is just huge. The recent discovery of oil that was in the news recently is just the tip of the iceberg. He feels the cost of a barrel of oil will be falling into the $20ís in the future. I cant see the oil companies letting that happen, but it sure would be nice.
I agree that we could see this relatively soon.

There are multiple reasons but ONE I think we are forgetting is the HUGE grass roots backlash against the absurdities of the "Peak Oil" crowd like Ruppert.

Mike Ruppert by the way is finished.

The oil speculators and industry execs have over stepped the mark. :-)
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