OIL---you better be sitting down when you read this ! ! At 100$ a barrel you should.

[jrr344]

thats BP...
How many refineries have they blown up?
How many fires and releases in refineries have they had?
BP specifically has a horrific track record.

Not to mention the inspector found problems every time and failed to do anything.

 

[Fronty Owner]

Not to mention the inspector found problems every time and failed to do anything.

issued a fine and moved on.

I guess as long as they pay a days income fine every year or so, they are fine.
Or maybe we need to start a three strikes law for general managers or executive board members.

If your facility blows up and kills someone, lets put the GM on trial for negligent homicide.

 

[blades]

The problem with the shale oil deposits out west and PA , it requires a system called Fracking. Where it has been used the ground water contamination is unbelievable. It has been hushed up pretty well. Look up fracking, there are some very dire results. I just wish to point this out as every time this comes around, the method of procurement is left out. NO I am not a greene, just like to see both sides commented on.

 

[mga]

Read about that Bakken formation several years ago. It's not a conventional resource. More costly to get . Wouldn't last that long.

snopes.com: Bakken Formation

altho i have used snopes to check things, they are owned and run by a liberal group and often people have caught mistakes by snopes, either intentional or unintentional.

 

[pacman]

I use to work for a company that cleaned out oil and water separators for different companies. One company I use to go and do work for was a drilling company Slumbeger in New Orleans Louisana. I was told this almost 3 years ago that there was enough oil here in the usa that we didnt need any oil form any other country. I heard this from actual drilling company. This information has just made me realize it had to be true.

 

[olyman]

Its funny we haven't run out yet.

dont burst the bubble of those that want the oil to run out!!!!!

 

[ray benson]

altho i have used snopes to check things, they are owned and run by a liberal group and often people have caught mistakes by snopes, either intentional or unintentional.

Ya, can't trust any site completely.
Email: "Oil Discovery...You Better Sit Down!!!" | Media Matters Action Network

 

[AIM]

Did we decide yet wether it was 2041 years or "until the year" 2041?

Although the extraction method might indeed be costly. I wonder if it would end up evening out cost wise for us due to no shipping costs etc?
(I really don't know due to knowing NOTHING about oil)

I wouldn't mind paying $100+ per barrel so bad if I knew the money was staying here in the USA. I just hate making towel heads so rich!

 

[TreeClimber57]

so what would we do after 2041? we need to get off of this oil kick. i'm not saying we shouldn't, but we need to understand it will run out.

Yes it will. But if this report is right, it won't run out in 2041.

It says "Stocks start February with a bang. Dow closes above 12,000 for 1st time since June 2008; S&P 500 hits new 2-1/2 year high."

That puts it somewhere around 4030. So you and I likely are not going to worry about it soon.

That is of course based upon current consumption.. and we still need to work on the most efficient solutions regardless, or we will be causing other issues.

 

[olyman]

I don't think so, the gulf was a staged event. I don't think regulation stopped that anyways because it was already there.

Everyone should not be punished for anothers ignorance.

agreed,,and staged by whom???--and they should all be in a prison cell,deep in a dungeon--

 

[7hpjim]

Its funny we haven't run out yet.

+14trillion

 

[jrr344]

agreed,,and staged by whom???--and they should all be in a prison cell,deep in a dungeon--

The Elite running the world, and it accomplished its target no more offshore drilling, they are trying every way to destroy America and so far they are winning.

 

[7hpjim]

issued a fine and moved on.

I guess as long as they pay a days income fine every year or so, they are fine.
Or maybe we need to start a three strikes law for general managers or executive board members.

If your facility blows up and kills someone, lets put the GM on trial for negligent homicide.

public hangings...oops..hate speech:teeth:..I meant a really firm slap on the wrist:shame:

 

[7hpjim]

The Elite running the world, and it accomplished its target no more offshore drilling, they are trying every way to destroy America and so far they are winning.

If I could figure out how to rep ya, I would, product of government run screwl sistem....FONICS WURKS!!!!!

 

[Ambull]

The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels.

I did a little research, and we use 19 million barrels per day. Here is a recently released Reuters article:

UPDATE 2-US Nov oil demand up 1.71 pct from prev year-EIA | Energy & Oil | Reuters

19 million barrels a day is roughly 7 billion barrels a year. 503 billion barrels would last 72 years at our current consumption rate. Not bad, if it is really there.

 

[anymanusa]

so what would we do after 2041? we need to get off of this oil kick. i'm not saying we shouldn't, but we need to understand it will run out.

you need to understand how it is made before you can understand if it will run out. It ain't made from dead dinosaurs either.

 

[ray benson]

There is another big formation with oil in N.Dakota. But recoverable oil in it and Bakken are about 8 billion barrels. Less than a 2 year supply.
New oil reservoir rivals rich Bakken formation; ND recoverable oil reserves nearly double

 

[danrclem]

you need to understand how it is made before you can understand if it will run out. It ain't made from dead dinosaurs either.

But scientists used to say it was and we know that scientists are always right. LOL
__________________________________________________________________



Now we'll have people come along and say, Well it'll be ten years before we even get any of the oil out of the ground. They said that in 2008 and several years before that. If our (not allowed to put words here as to what I really think) government had let drilling happen back about the year 2000 we could be using that oil right now.

Oh BTW, our current POTUS has to take care of his old buddy Soros by making sure he makes plenty of money by drilling in South America. He's gonna want more millions for his 2012 campaign. The way oil is going up in price right now Soros ought to have plenty of money to donate.

 

[Wood Doctor]

I'll Sell More Firewood Next Year

The higher the price that crude oil reaches, the more firewood that I sell. That's because propane, natural gas, (and most electricity) follow suit.

So, I better bring in 40 cords next year. I sold out all 30 that I cut and split for 2010-2011. I am stocked out. The wolves just may be more hungry next year.

 

[wvlogger]

i really wish onshore oil drilling would pick up here. Then i could go back to doing what i love, building huge locations for oil rigs. And if yall do not think we have oil here in WV.a think again. In my area that i oversee the care and state of the roads we have 10 wells that produce 20/bbl a day a piece and that a low production figure. if the Marcellus shale continues like it is i am a very firm believer that we will find a huge oil pay zone in southern WV.a.