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Huge oil find in gulf a Hoax?

F

farmer101IL

Member
Kind of bored tonight. Not in a mood for politics. So i was thinking about the oil strike by BP in the Gulf. If my calculations are right what they really are drilling for is the backdoor to Saudi Arabia Oil Fields. We are going to suck them bstrds dry!!!!! Can you imagine if we could drill into their bottom side.!!!!!!! Heck maybe the oil will just fall out of the hole no sucking needed. LOL LOL Whooo hooooo. Just some big thinking tonight.
Get to do a little baling tomorrow and i mean a little say 60 small squares. Been beautiful weather here in north illiniois. What a beautiful full moon!!!

Farmer
 
Not a hoax. BP's market cap went up by
$7,000,000,000 (that's billions) after the
announcement. Production is many years away.

Still plenty of oil in the Gulf of Mexico. They
still haven't drilled anything east of New Orleans
all the way around to the Florida Straights, the
body of water between Cuba and Florida. Some of
those oil bearing blocks have only been recently
released for exploration.

If you want action in the oil sector, look at the
Gulf of Guinea off the West Coast of Africa.
Sinopec (China) just paid 7.2 billion for a small
exploration and production company, Addax
Petroleum. They are drilling now and will
probably scoop up others with their surplus of
depreciating US dollars. Yep, the dollar got
clobbered today. Look what happened to gold.

Anyway, click the link for the next likely Sinopec
purchase.
Small company with large oil rights.
 
We wouldn't need Saudi oil, we have plenty of our own that our lawmakers refuse to make available.

Taxpayer funded wind generators are more trendy right now.
 
Most everyone has known that there is a large oil field in the Gulf of Mexico. It will take years to make offshore rigs to drill for it and recover it. There is a lot of oil off the shore of California too, but the morons in DC are afraid that some fish might die if oil is recovered there.
 
There is lots of oil. But the cheap oil is gone. This discovery is in very deep water, and will require $80+ per barrel to be profitable. It will take years to construct the production infrastructure to get the oil out.
 
All the oil in the world doesn't do any good without the refinery capacity to process it. The oil companies have little reason to up their capacity when they can just jack the price up on what they refine now.
 
And oil companies' RECORD profits last year were...how many BILLION dollars? Truth is, oil companies don't WANT supply-side solutions to energy problems...because then the price they can charge for each gallon goes down, and so do profits.

And I think this "huge" find in the gulf IS a hoax. If it's only 4 billion gallons, it's only 210 days' worth of oil to the US if we pump it dry. So that's nothing to get excited about...hardly worth even reporting.
 
Alaskan oil comes to the USA -- period. The only time Alaskan oil was exported to Asia was from 1996 to 2000 when Monica Lewinskys boy friend lifted the export ban --- wonder if he needed some chinese and korean campaign and lawyer contributions.
 
So are you saying Clintoon told the oil company they HAD to export it...or did they CHOOSE not to sell it in the US? If the oil company CHOSE not to sell it in the US, I would think the OIL COMPANY is to blame for that oil not going to US consumers...

Or are the oil companies all run by Boy Scouts?
 
I am pretty sure the oil companies chose to sell their product where they would make the most profit. That is how successful and profitable businesses are run. Maybe you are a sainted philanthropist and donate all you produce or earnings to help Pelosi and Reid stay in power but most of us try to sell our products to the highest bidder.
 
So then you're implying that, since Clinton lifting the export ban was BAD, then you're in favor of the government restricting a business's "right" to sell their product to the highest bidder? And then saying you're in favor of the company having the right to sell to the highest bidder?

When you figure out what your actual position is--rather than being "in favor" of opposing views--come back and tell us how you REALLY feel.

And for the record, I think Clinton, Pelosi, and Reid are destroying our country,and I'm not a fan of any of them.
 
Don't kid yourself. Four billion is a significant, in fact, large find and worth the cost of extraction. A 100 million barrel field of deep water oil is marginal in today's market. Extraction costs for deep water oil is around $30 per barrel in a large field. It is significantly higher in a small field.

Why be so US centric? Oil is a world market. It doesn't matter where it goes until there is a shortage. And then it will flow to the highest bidder as it should.

Increases in economically produced world oil reserves, no matter what size field, helps everyone. A similar situation works in farming. There is more than one cornfield but its individual output doesn't move the market.
 
I don't think there is any doubt as to what my views are regarding goverment interference or involvement in private enterprise. For the record I agree with you 100% on who is out to destroy our country.
 
Alaska oil was originally planned to go to Southern California refineries- but the state polution laws sort of stopped that. The large refinery complex in Los Angeles has been almost idle for past 15/20 years waiting on LA city council building permit to add the newer scrubbers to smoke stack and update burner to meet the pollution standards- city council won't let building permit be issued. Refinery does some recycling of used oil-about 5 to 10% of its capacity- and acts as a large tank farm for Mexican unleaded base gasoline stock and some light oil from Texas/Arizona pipelines. Alaska crude could go to texas after LOOONG tanker trip or go to close, profitable market (Japan, Asia)The cross Canada pipeline proposal to existing Minnesota pipeline gets tangled in legal hassles regarding contracts with union and local Canadian laws but is physically practical- pipeline from Alaska would be about 400miles to link with existing (small diameter) pipelines, they could then send oil to Minneapolis, Milwaukee and possibly to Chicago old Ashland oil refinery. Los Angeles residents shouldn't complain about fuel prices when the LA refinery could make all the gas LA needs- capacity exists, just blocked by their local politicians. RN
 
"Why be so US centric?"

Oh, I dunno...maybe it's because I was born in the USA, I've lived all my life in the USA, and I have a vested interest in the USA being energy independent...for national defense purposes, as well as for economic purposes.

Of course, if you're from Canada, I guess you'd rather oil extracted from the US continue to be sold overseas, so you Canadians can keep selling YOUR oil to the US. I guess there's no "selfish" national interest on YOUR part, either.
 
I didn't know about this particular situation, but it sure does not surprise me one bit.

This abundant kookism is this nation's undoing if people don't get it under control, very soon.
 
The morons in DC are being paid by Saudi Arabia to keep finding excuses not to use oil from anywhere else.If there was no oil in Saudi Arabia then they would drill all over the place fish or no fish.
 
Right,and why do we care what the world does?Also why do we buy any oil from Canada?We have way more oil thats easier to get than theirs.I guess its got something to do with people in government being so stupid they let Britain use us like a colony AGAIN.Wonder who the stupid paid off blowhards were?They didnt care as long as they got paid it didnt matter what happened to the United States.Some billions in a few offshore accounts and whoopie!Who cares about the economy?I got mine the rest of you all can suffer.Whatever lie works from then on to keep that money flowing into the offshore account.George Bushs(both of the crooks)probably have more money than a lot of countries.England is jacking the price of our fuel up,and the people in government that get it,are being paid off.Too bad nobody is going to do anything about it.So here we are,economy ruined,government taken over by foreign neocons,politicians dont care,people too stupid to figure out what happened,news media thats just a propaganda mill.Then there will be some on here,probably from Canada,that will try to say Im crazy.Doesnt matter now,the damage is done so you all can quit lying and admit that you all are just as bad as England wanting to ruin us.However who will bail you all out when you get the rest of the world mad at you?You all didnt think of that,did you?
So its real simple now,screw us over,and everybody else,and watch the missles flow towards you when billions of people are starving and find out its because you ruined our economy and the rest of the worlds economy collapsed because ours did.If there is a war over it,just like always,England will get in trouble,and who will save them if we are down?Maybe by thinking like you do you should study nnalert language because that could be your future.
 
(quoted from post at 18:07:53 09/04/09) Right,and why do we care what the world does?Also why do we buy any oil from Canada?We have way more oil thats easier to get than theirs.I guess its got something to do with people in government being so stupid they let Britain use us like a colony AGAIN.Wonder who the stupid paid off blowhards were?They didnt care as long as they got paid it didnt matter what happened to the United States.Some billions in a few offshore accounts and whoopie!Who cares about the economy?I got mine the rest of you all can suffer.Whatever lie works from then on to keep that money flowing into the offshore account.George Bushs(both of the crooks)probably have more money than a lot of countries.England is jacking the price of our fuel up,and the people in government that get it,are being paid off.Too bad nobody is going to do anything about it.So here we are,economy ruined,government taken over by foreign neocons,politicians dont care,people too stupid to figure out what happened,news media thats just a propaganda mill.Then there will be some on here,probably from Canada,that will try to say Im crazy.Doesnt matter now,the damage is done so you all can quit lying and admit that you all are just as bad as England wanting to ruin us.However who will bail you all out when you get the rest of the world mad at you?You all didnt think of that,did you?
So its real simple now,screw us over,and everybody else,and watch the missles flow towards you when billions of people are starving and find out its because you ruined our economy and the rest of the worlds economy collapsed because ours did.If there is a war over it,just like always,England will get in trouble,and who will save them if we are down?Maybe by thinking like you do you should study nnalert language because that could be your future.
Click to expand...

Trucker get off the Bush kick. From what you are saying about them is they are having orgies everyday. They have bought up all of texas with their oil wealth. I see they live in huge monstrous houses, they throw huge parties weekly. Both Bush boys have been divorced at least a dozen times, they truely have no morals. They have oceanliners for yachts. Heck i think they have more money than Bill Gates. They have huge jets, lavish parties all over the world. Heck i think they stilll are manipulating the price of oil. They all got very wealthy. How much money do you think they have?
If all of this i pointed out was true the left media would be on that fast. Oh wait they are hiding their money so they can take it with them. Get real man!!

Farmer
 
Thats right!Also there are way less companies who control refineries than there were even 5 years ago.British Petroleum and the others can work together now to jack up the price since the other guys that held the price down are gone.These companies that are still around might even be the same company.Whats bad is this happened before.Its even the same people that did it the first time,Rockefeller and others,only now they are Internationalists instead of just having a monopoly in the United States they control the world supply of oil,the price,how much is refined,where it comes from to be refined and even though some of them are from the United States they think they will just get more money.Looks like they are going to ruin the United States.Looks like oil companies want to beat us down so we will fight wars for them so they can take oil for nothing and sell it for whatever price they want.Tyranny.
 
Wonder how much a 98,840 acre ranch in Paraguay costs anyway?Well thats just since 2008.I think they are puppets,but real rich ones.Check them out a little,they arent poor by any means.Somewhere I read"useful idiot",could be lots of them that way including the one in charge now.Still doesnt mean we have to act like it didnt happen.A group put a useful idiot in the White House,blatantly stealing an election,and I dont like it,or the tools either.
 
There is a lot of oil under ground in the United States now,that we dont have to drill under the ocean.We have oil wells all over the United States.Plus Alaska still has oil.There is an ocean of oil somebody told me if you go far enough down.All we have got to so far is just a little off the top.
Another thing is Russia has been looking where US companies said there wasnt any oil and found 2 or 3 times more oil.Maybe if we brought some Russians over here to drill in places the American oil companies say doesnt have any oil and we might have plenty?
These people running oil companies have a different view since that last merger.They must either be the same group,or think alike and want control more than care about our economy.Seems like they just dont like America.Our freedom made them rich,now they want to ruin us,or they are foreigners that hate us.Whatever it is,things dont look good.There is probably a lot more oil than these oil companies will say there is or the price of fuel would be in outer space.We are buying high priced Canadian oil now I think because nobody else wants to.I bet there are places with oil cheaper than ours,and we are smart enough we could figure out how to run cars on hydrogen or even ethanol or propane.They just want us to think we have to buy this oil at the highest price they can get us to pay.Seems like foreigners to me,or greedy hogs.They sure arent going to say there is still lots of easy to get to oil right here on land,and there is.
 
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