Hell yeah!!!! CJ and Barry laying down knowledge on da hippies!!! Oil rules planet Earth, get over it or become the next Elon and have an epiphany yourselves. Also welcome Rocdoc, good to get some thoughts from and industry person.
oil makes lots of stuff and makes the world go round. but it cannot forever, Rocdoc, speculate on peak oil? and I was under impression Saudi wells 'HAVE' to pump because salt water was injected into well to keep well producing @ high outputs? if they stop pumping, salt water will ruin the well? am I grossly misinformed? I have a hard time seeing the Saudis overproducing purely to spite the US as it spites them too. voice of reason is welcomed here, mostly
Good stuff. Does the OPEC perspective of "squeezing" our domestic efforts play in to your reasoning for lower gas prices/crude oil? I think they are certainly maintaining output levels to saturate, which drove prices down. Are they doing it knowing that it will eventually squeeze some of the domestic folks because they produce it cheaper? MIS, I'll play...I think $70-80 oil before the end of 2015...and an all time high within 5 years.
right on JD, I would guess and extend low oil for 18 months not just 8, and then the ATFH within half decade
Also welcome Rocdoc, good to get some thoughts from and industry person.[/QUOTE] Yes, because those opinions won't be biased by profit or loss thereof? Not an attack on you personally rocdoc but the oil industry has not been the beacon of truth over the years. My concerns are have there been improvements for dealing with another deepwater horizon situation or will BP, or other said oil co., let the rig bleed out again to protect their investment over the well being of the ecosystem and general populace. Will the rig benefit more than a relative few investors while possibly endangering millions of people? Is the risk worth the possible decimation of local economy like what happened on the gulf? Will BP simply be slapped on the wrist again while us commoners are left to deal with the negative effects?I fail to see why these questions should offend anyone. Just curious what has been learned and implemented to ensure there will not be yet another disasterous oil spill. Yes rcarter, big oil runs the world, owns our goverment and therefor controls our military. Hence, the situation in the middle east but that's a whole other discussion. First time I've been called a hippy.lol Could be worse.
Man, what the fark did this place turn into the RNC over the weekend??? With the oil folks it's always the same..."blah it's our only option nothing else works...it's safe, nothing will happen. If you don't agree you're a hippy bent against national gdp". Bollocks. Barry, good Jefferson quote. Hey you dudes see that refinery explosion in CA today? The sad thing is this, despite the fact that it hasn't been mentioned, it doesn't matter. Standard of living...it can be lowered and we can still be comfortable. But like lemmings, our consumption will only increase, we will only get slower and fatter, until there's no turning back. "Rearranging the deck chairs on the Titanic"
Maybe Saudi Arabia is producing so much because they want to decimate Iran's economy that relies on oil being $160 a barrel. Maybe we have something to do with it to reel-in Russia, another country who balances their budgets with $160 barrels of oil. Maybe.
Hope I'm not being too forward but shouldn't we all be buying all the petro related securities that we can afford right now?? Its goin back up and there's inflation too. Lets get paid my ni9as
http://www.tech-flo.net/salt-water-disposal.html 'Companies may choose to recycle the salt water by injecting it back into the well for secondary oil recovery, or dispose of it at a salt water well disposal site.' salt (not just NaCl, but technical term) water is used to extract more from wells _________________________________________________________ purposely lowering standard of living is a losers game finding solutions for all that raise standard of living is what should be the idea. oil consumption doesn't have to equal high standard of living _______________________________________________________ the talk of lowering the price solely for political gains / regime change enters conspiracy territory you are saying the market is manipulated for political gain? I'm shocked /sarc off
I am under impression if they stop pumping it contaminates the well making oil too difficult/costly to separate, thus ruining well. so, oil needs to be pumped to bleed pressure out, thus making it difficult to cut production and match market ideally rocdoc will confirm/deny this
I'm not saying there are not other ways and that we should not try and find them. Like Barry and I said Elon Musk is seeming to head down those paths and I hope others follow. I'm just saying the world is what it is and change is like evolution, slow moving, so we have to deal with where we are now. Like others said almost every thing we use in life is oil based and without a huge breakthrough and shi!t tons of $ it ain't happening in any of our lifetimes.
Here's the deal. The estimated reserves off the atlantic coast for the entire basin is about 3.3 Billion barrels of oil. Now that sounds like a lot until you look at how much oil the US uses in a year, which is about 6.9 Billion Barrels of oil. So even if we pumped out all of the oil in the Atlantic, it would only fuel the US for about 6 months. The pockets of oil off the coast only represent about 4% of the total available oil in the US. It doesn't seem worth the risk to me. There also is a lot more at stake beyond a potential hypothetical spill. To find the pockets of oil, companies will start seismic testing, which will fire a 250 decibel air gun into the ocean every 10 seconds, 24 hours a day, 7 days a week for months on end mapping the bottom for oil. To give you an idea of how loud that is, a 747 checks in at 140 decibels. The sound has been proven to destroy or temporarily damage the ear drums of aquatic creatures which is life threatening to marine mammals. Seismic testing off of Peru led to over 900 whales beaching themselves and similar results have been witnessed in New Zealand and the UK. We have to start drawing the line somewhere, why not the Atlantic? Is it really worth the death of countless whales and dolphins for a 6 month supply of oil? Is it really worth risking a spill along the Outer Banks, Assateague, or any of our coastal beaches that we call home? I don't think so.
rectified diffusion, those sonic blasts cause oxygen to come out of solution (marine mammal tissue) and form bubbles (rip apart from inside) this will casue them to try and leave the water (mass strandings) whats an omlette, without a few eggs, eh? /sarc off http://scitation.aip.org/content/asa/journal/jasa/33/2/10.1121/1.1908621
As a surfer and a lover of the earth's beaches, oceans and waves...I have to say it's not all about the Benjamins. I agree, investing in petroluem related securities is definately a profitable endeavor, ut there are other ways to make a fast buck without despoiling our oceans. Try Ratheon or some other defense industry stocks if that gets your juices flowing. I would rather err on the side of protecting nature's beauty passed down to future generations. Teddy Roosevelt would agree, and he probably killed alot more men and beasts than any one here on this forum (at least I hope so, if not, you know who you are and pleasssseeee don't take offense to this post). Any long lasting change has to begin with a raising of awareness. I know I am a hypocrite in my consumerism. So I try to mitigate it with other actions. That is all one surfer can do, but it all adds up, and I do not want to cave in to the sucking whirlpool of corporate profits that destroy our natural world. You all are free (thanks to those that fought and died for our freedom) to choose. I choose to try to protect our Mother.
Well said surfdogg. We live in a complex and interconnected world. It's impossible to avoid using products that were obtained by exploiting people, animals, and their environments. That doesn't mean that you can't try. A better future has to start somewhere. There's nothing wrong with imagining that; innovation has to start somewhere.
I have been doing that all week. End of the is year, or next, I will be a very happy man. I would also invest in Tesla--this dude Elon is going to change the world, IMHO.
We have to start drawing the line somewhere, why not the Atlantic? Is it really worth the death of countless whales and dolphins for a 6 month supply of oil? Is it really worth risking a spill along the Outer Banks, Assateague, or any of our coastal beaches that we call home? I don't think so.[/QUOTE] I agree with this statement surfnut. As I posed as a question earlier a few will profit at the peril of the masses. Our Govenor is all drill baby drill 'cause guess where a substatial part of her funding comes from.