CrappieKeith
Addicted to ArboristSite
So without the ability to refine it ...it does not matter how much oil we can pump on our own.
OIL---you better be sitting down when you read this ! ! At 100$ a barrel you should.
- Thread starter CrappieKeith
- Start date
Help Support Arborist Forum:
So without the ability to refine it ...it does not matter how much oil we can pump on our own.
D&B Mack
Sawin Wit It!
Yes, but the think the point is where the raw material generates, not if we can generate more. If we are using 19 a day and 12 come from overseas (hypothetical only), but then we tap our own and produce an additional 7, then we are only importing 5, but still using 19.
For the most part, we import 99% crude. Refined product is rarely imported. So our refining product is about equal to the amount we use.
TreeClimber57
Addicted to ArboristSite
Well, it depends upon how much we use and if demand increases. If demand stays level then presumably they could simply switch source of supply, taking some demand off of middle east.. and thereby taking some pressure off of the global supply.
It is easier to refine than the heavy crude coming from the tar sands we have up here.
On other hand, if price drops significantly then it is not economically viable to take it out of sources like the tar sands - which indirectly can then put some pressure on other sources again.
Then again, there is always offshore drilling.. although not quite vogue right now.. it was shown in investigations that some serious neglect took place in some decisions there.. and it could have been prevented.
D&B Mack
Sawin Wit It!
The real problem I have with the blame game on off shore drilling or the Marcellus Shale for the matter, is this reasoning is not possible in other areas of life. Imagine for a second, a tree falls on a house, well, no more cutting trees down cause we had an accident. I know the magnitude of each is not the same, but point being the same...
as posted by treeclimber57
Then again, there is always offshore drilling.. although not quite vogue right now.. it was shown in investigations that some serious neglect took place in some decisions there.. and it could have been prevented.
as quoted by Rahm {dead fish} Emanuel:
Media MIA On Emanuel's Crisis Comment | NewsBusters.org
Then again, there is always offshore drilling.. although not quite vogue right now.. it was shown in investigations that some serious neglect took place in some decisions there.. and it could have been prevented.
as quoted by Rahm {dead fish} Emanuel:
Media MIA On Emanuel's Crisis Comment | NewsBusters.org
sesmith
ArboristSite Operative
Here's the real facts as I read them from your link:
USGS Frequently Asked Questions - How much oil and gas are actually in the Bakken Formation?
"The USGS estimates that there may be 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation (with a mean estimate of 3.65 billion barrels)"
The oil in this formation has to be recovered using horizontal drilling and hydrofracking, which is more expensive and environmentally questionable than standard drilling.
From here:
Crude Oil FAQs - Energy Information Administration
" In 2009, the United States consumed a total of 6.9 billion barrels of oil"
From here:
USGS Frequently Asked Questions - Does the Bakken Formation contain more oil than Saudi Arabia?
"In 2000, the USGS assessed undiscovered technically recoverable oil and gas in Saudi Arabia at 87 billion barrels (USGS 2000 World Petroleum Assessment"
"the estimate of technically recoverable oil in the Bakken Formation is larger than all other current USGS oil assessments of the lower 48 state"
No small puddle of oil, but still only a little more than the US uses in 1/2 of a year! Nothing new here. Still just a drop in the bucket of our usage...we're still using more than we could ever produce.
USGS Frequently Asked Questions - How much oil and gas are actually in the Bakken Formation?
"The USGS estimates that there may be 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation (with a mean estimate of 3.65 billion barrels)"
The oil in this formation has to be recovered using horizontal drilling and hydrofracking, which is more expensive and environmentally questionable than standard drilling.
From here:
Crude Oil FAQs - Energy Information Administration
" In 2009, the United States consumed a total of 6.9 billion barrels of oil"
From here:
USGS Frequently Asked Questions - Does the Bakken Formation contain more oil than Saudi Arabia?
"In 2000, the USGS assessed undiscovered technically recoverable oil and gas in Saudi Arabia at 87 billion barrels (USGS 2000 World Petroleum Assessment"
"the estimate of technically recoverable oil in the Bakken Formation is larger than all other current USGS oil assessments of the lower 48 state"
No small puddle of oil, but still only a little more than the US uses in 1/2 of a year! Nothing new here. Still just a drop in the bucket of our usage...we're still using more than we could ever produce.
zogger
Tree Freak
Green has nothing to do with it, except folding green
The big oil companies have no interest selling you oil that cheap. It has nothing to do with the environmental aspects. zero,zilch,nada, none.
They use the old "divide and keep them conquered" routine, effectively. They want you blaming those folks, the "greenies", when it is the big global companies, the cartels, and the big banks and wall street speculators that control prices. They want you to keep voting in politicians that are in the pockets of those big bucks guys, keep you faked out. They want top dollar forever and they know that you will pay it as long as they control the supply.
A lot of guys here are in the wood business, say they sell a cord for 200 bucks. So, why don't they sell a cord for 25 bucks? I remember when cords cost that much, so why not today, when will we see "good old days" firewood costs?
It's the same with oil. They charge those high prices because they can get it, and if it costs them less to produce, they still don't care, it just means they make more. If it costs them more, they still don't care. They could care less about epa costs driving up prices or whatever, they'll just bump up their prices because they can, and they know you will pay it.
In other words, you ain't ever gonna see real cheap fuel prices again. Them days are over. Look at demand rising in places like india and china, it is a TREMENDOUS growth level there. Just between those two nations you have 3 billion people, in a transition stage from ox carts to cars and trucks.
Oil is a *globally* traded fungible. It doesn't matter where it is produced, and there is no such thing as "our oil" speaking as someone who just goes to the local truckstop to fuel up, it isn't yours and it isn't mine it is THEIRS, it is THEIR oil unless you personally own the complete vertical stack from pumping it out to refining it and delivering it. If that ain't you, then "you" don't have any oil, it doesn't matter what section of the globe it comes from. And they'll charge what they want, and if you balk at the price..tons of new markets out there elsewhere that will take it, all of it, every drop of it. If you want "our" oil, the only way to do that is to nationalize the fields and refineries, etc. that's it. Two choices, let the global oil companies run things, or nationalize it. Places where it is nationalized, yep, cheap for the people there.
That ain't the US though, the big oil dogs/wall street/banks like goldman sachs make damm sure that don't happen. They sorta like being billionaires and have no probs buying off government, no matter what batch of R or D sockpuppets are in charge.
The big oil companies have no interest selling you oil that cheap. It has nothing to do with the environmental aspects. zero,zilch,nada, none.
They use the old "divide and keep them conquered" routine, effectively. They want you blaming those folks, the "greenies", when it is the big global companies, the cartels, and the big banks and wall street speculators that control prices. They want you to keep voting in politicians that are in the pockets of those big bucks guys, keep you faked out. They want top dollar forever and they know that you will pay it as long as they control the supply.
A lot of guys here are in the wood business, say they sell a cord for 200 bucks. So, why don't they sell a cord for 25 bucks? I remember when cords cost that much, so why not today, when will we see "good old days" firewood costs?
It's the same with oil. They charge those high prices because they can get it, and if it costs them less to produce, they still don't care, it just means they make more. If it costs them more, they still don't care. They could care less about epa costs driving up prices or whatever, they'll just bump up their prices because they can, and they know you will pay it.
In other words, you ain't ever gonna see real cheap fuel prices again. Them days are over. Look at demand rising in places like india and china, it is a TREMENDOUS growth level there. Just between those two nations you have 3 billion people, in a transition stage from ox carts to cars and trucks.
Oil is a *globally* traded fungible. It doesn't matter where it is produced, and there is no such thing as "our oil" speaking as someone who just goes to the local truckstop to fuel up, it isn't yours and it isn't mine it is THEIRS, it is THEIR oil unless you personally own the complete vertical stack from pumping it out to refining it and delivering it. If that ain't you, then "you" don't have any oil, it doesn't matter what section of the globe it comes from. And they'll charge what they want, and if you balk at the price..tons of new markets out there elsewhere that will take it, all of it, every drop of it. If you want "our" oil, the only way to do that is to nationalize the fields and refineries, etc. that's it. Two choices, let the global oil companies run things, or nationalize it. Places where it is nationalized, yep, cheap for the people there.
That ain't the US though, the big oil dogs/wall street/banks like goldman sachs make damm sure that don't happen. They sorta like being billionaires and have no probs buying off government, no matter what batch of R or D sockpuppets are in charge.
wvlogger
Rock trucker
i never deal with that no company here that i know of does there own locations and drilling. typically you sub contract the location and a sub contract a driller.
TMFARM 2009
Addicted to ArboristSite
I
they will drive oil prices up until you are paying $8-10 a gallon and then they will start tapping that reserve,but will regulate what is produced,pure economics why give it away when you can make more later. i hear people say all the time, they wouldn't do that... but given the chance to make more money, all people would!!!! you cant say you wouldn't.it all comes down to greed...
i agree with zogger... its more of the same old thing...greed..
they will drive oil prices up until you are paying $8-10 a gallon and then they will start tapping that reserve,but will regulate what is produced,pure economics why give it away when you can make more later. i hear people say all the time, they wouldn't do that... but given the chance to make more money, all people would!!!! you cant say you wouldn't.it all comes down to greed...
Similar threads
