Saudia Arabia: $200 Oil In 2 Years

Yeah but look at how cheap Scotch is over there.
 
You won't get drill baby drill. The eco bozo's are already working hard in Florida to keep drilling away from them. I hear on the NPR FSU news almost every other day about this local state rep or that talking about trying to fund this study or that study. And if you don't know what that means in political speak it means they are going to study it to death! As long as some "study" is being funded they can always kick that can down the road for a long time and guess what, we never get to drill for oil in our own back yard. :smt013

Perry Fla just south of me recently attempted to install a coal fired power plant to serve the whole region, it was shot down with eco bozo's tv ads. It would have put 200 people to work in Perry and the area. Tallahassee tried to put a bio-mass power plant and it was shot down because of where they wanted to put it. In a economically depressed part of town. Guess what, not in our poor "Hood". So that plant is trying in Port St Joe. Another job loss for the area. :smt009
 
Buy a sailboat and screw them all...:smt021
 
The dollar is so devalued that the price of oil is extra cheap. If OPEC decides to price oil in another currency, then watch out! This deficit spending is going to cause very very serious problems.
 
C-SIDE said:
The good ole US of A has plenty of oil. However, since the tree hugging special interest groups (and democrats) actually run the country, it is highly doubful this oil will ver be tapped

http://www.usgs.gov/newsroom/article.asp?ID=1911

C-Side
270 Sundancer 2000
Gas Guzzling 454
Chicago, IL - home
New Buffalo, MI - boat home
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C-Side, How long you figure that'll last us?
 
Apparently, the lead researcher of the study, James Bartis, has indicated that there could be up to 2 trillion barrels of oil there - who really knows. Assuming we consume 20 million barrels a day, the I think we have about 1,900 years worth of oil - not sure if my math is right. Even if my math is wrong, its safe to say there is enough oil there to last us a very very long time


Why no one ever talks about this, I don't know. I guess everyone is to busy figuring out ways to spend our tax dollars and rob my kids of their economic future
 
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Who cares how long a certain oil field will supply us? They only people who really care are the people who spend money to buy the equipment and manpower necessary to extract it. If the supply doesn't last long enough for them to recoup their expenditures, they care.

This is the problem. Every time we find a supply of oil, we get this "and what do we do when we run out of that?" argument. Those who do not want us to use oil as fuel simply do not understand that there is, at this point in time, no suitable alternative. I am all for cleaner fuels and alternative energy, but lets be realistic for a minute. We cannot stop using oil until a suitable alternative is available in large enough quantities to replace the oil we use. Not before. C-Side's math was a little off. If there are 2 trillion barrels in that reserve, and we use 20 million barrels a day, then that is 100,000 days worth of oil. Divide that by 365, and we get 274 years worth of oil. In my opinion, that is plenty of time for us to develop an alternative that works.

This is a no brainer. Drill that reserve, and continue looking for the alternative. When we find it, stop using oil. The only reason NOT to drill is that some people really do want us to live in the stone age. They just hate industrialized civilizations.
 
The article referenced states 3 to 4.3 billion recoverable barrels using the latest technology. This is approximately 6 months supply for the good old USA. It’s good news to find out the Bakken Formation has more recoverable oil than previously thought but the key word is recoverable. In the whole scope of things this is sort of like finding a few extra barrels sitting in the back corner of some old warehouse. What about $$$? Developed or undeveloped, all reserves are not equal. What market conditions would be required to stimulate the development of some of our oil reserves? Set everything else aside, it’s not going to happen unless money can be made. Heck in the last year or so some domestic wells were shut down because of market conditions. Goodness, how could that have happened when many CSR members were chanting “drill baby drill” as they pictured a spigot next to their slip oozing cheap fuel.:huh:
 
Woody said:
Heck in the last year or so some domestic wells were shut down because of market conditions. Goodness, how could that have happened when many CSR members were chanting “drill baby drill” as they pictured a spigot next to their slip oozing cheap fuel.:huh:
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The 2 trillion barrel reserve is not the one mentioned in the article. C-Side was referring to shale oil in the Rockies.

Does the cost of complying with government regulations count as "market conditions"? Where I come from, that is called shooting ones self in the foot. The costs that government and unions build into the product make it unprofitable to sell the oil at a price that would return a profit.

Oops... I'll stop now. I said a dirty word. Can I get kicked off of CSR for saying "profit"???
 
It’s my understanding that the shale oil is even more costly to extract but maybe the future will bring better technology. While regulation hampers the development of new oil and refining in our country I’m not so sure it and unions really have that big an affect on current prices. Remember we have been importing near 60% of the petroleum we use. This includes some finished products. European fuel prices, 2-3 times what we pay, might be a good reminder of the way it could be and that things aren’t so bad here.
 
Will never get that high... economy will crash again due to high prices like that and cause the price of oil to fall again. I mean, eventually it will hit that due to inflation, but average people can't handle that price so demand would end up dropping off so badly and cause another recession....

Need to get off of oil.. that's for sure. Our lives are too intertwined in it!
 
Where is my hydrogen powered boat.
America grows on cheap oil. 200 years ago we used elbow grease and it was wrong,we changed. 150 years ago we used whale oil and it was wrong,we changed. Is fossil fuel oil wrong today? When oil prices skyrocketed our economy plummet. Business and family budgets busted. Jobs,homes gone. Even our pleasure gone. Boat builders,boat sales,boat stores gone. If we go green today and buy hybrid cars(ten year battery life)and install solar,wind power(ten years to recoup the cost),we still need oil for our ten year old boats. America has a huge supply of fossil fuel and can use it more efficient and cleaner than any other country. Not tomorrow but in time, America will find a new cheap fuel oil. America needs cheap oil today or there will not be an America tomorrow.
 
chuck1 said:
Dave,
That is why it is in the Tiki Bar area.
Keep the good stuff in the boating area. Personally I wanted to hear what other great minds think about. My personal belief is we may be hitting it in a year or two because of the devaluing of the US dollar. Just my two cents.
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DING..DING..DING...We have a winner! I work in the industry, but believe me thats the last thing I want.
 
Other side of the coin - Oil goes up, our economy crashes, we buy gas-efficient cars, expand our alternative energies, immediately decrease our use, and their economies crash, our dependence decreases, we start to use our oil, we recover, they don't. It's my belief that our goal is to run them out of oil before they become nuclear powers, then we switch to our oil while we develop alternative energy sources (nuclear?). We thrive and they stay in the stone age.
 
Hampton said:
Other side of the coin - Oil goes up, our economy crashes, we buy gas-efficient cars, expand our alternative energies, immediately decrease our use, and their economies crash, our dependence decreases, we start to use our oil, we recover, they don't. It's my belief that our goal is to run them out of oil before they become nuclear powers, then we switch to our oil while we develop alternative energy sources (nuclear?). We thrive and they stay in the stone age.
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I'll go for that. Cold fusion anyone?
 
John, our government is too damn stupid to develop and implement a brilliant plan like that...
 
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