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he Marco Polo field is located in Green Canyon block 608, 160 miles south of New Orleans. It is fully owned and operated by Anadarko Petroleum. The field was discovered in April 2000 and lies in water 4,300ft deep. It produced its first oil in March 2004. The field is drained by six delineation wells with an average net pay of 292ft. It is expected to produce approximately 50,000 barrels of oil and 150 million ft³ of gas per day.
Originally posted by Fathom
Why will it take ten years in Alaska??????????
2008 - E.O. 13454 - E.O. 13466 (13 Executive orders issued)
2007 - E.O. 13422 - E.O. 13453 (31 Executive orders issued)
2006 - E.O. 13395 - E.O. 13421 (27 Executive orders issued)
2005 - E.O. 13369 - E.O. 13394 (26 Executive orders issued)
2004 - E.O. 13324 - E.O. 13368 (45 Executive orders issued)
2003 - E.O. 13283 - E.O. 13323 (41 Executive orders issued)
2002 - E.O. 13252 - E.O. 13282 (31 Executive orders issued)
2001 - E.O. 13198 - E.O. 13251 (54 Executive orders issued)
Last month the Department of Energy produced a report titled, “Analysis of Crude Oil Production in the Arctic National Wildlife Refuge.” (Hat tip, Menzie Chinn) The report makes two points that indicate that drilling in ANWR won’t do much to decrease energy prices any time soon.
First, the report states that drilling wouldn’t add to domestic production for at least 10 years, and peak production can’t be expected until the 2020s. Meanwhile, under the middle-of-the-road estimate for output oil prices would be expected to decline by only 75 cents per barrel in 2025. If there’s less oil than expected in ANWR the reduction in prices would be 41 cents per barrel in 2026, and if there’s more than expected the drop in prices is seen around $1.44 per barrel in 2027. That would translate into a reduction in gas prices between just one cent and four cents, according to an analysis prepared by Congress’s Joint Economic Committee.
1. When will the new oil arrive? Brutal truth: maybe in a decade for the early oil, though the EIA’s quote above indicates more like two decades before enough oil arrives to matter. The industry doesn’t have any identified offshore fields like Prudhoe Bay, our all-time largest producer, to come on line quickly. Exploration takes time. Drilling takes time, when you can get a drill. Building infrastructure takes time. Delays are commonplace.
2. How much new oil will arrive then? No one can say conclusively. Think in terms of one to two million barrels per day by 2025-2030. But now the world consumes 86 million a day, the US consumes 20 million, imports 13 million, produces only 7 million (see Figs. 1 and 2). Offshore clearly won’t be a savior.
3. Where are the rigs? The personnel? Deepwater rigs are already reserved several years in advance; in a few years supply may be even tighter as Brazil’s offshore drilling increases; new rigs for offshore waters take years to build. Each rig and crew will cost much more than during previous years, so no price relief there.
Originally posted by BlueTriangle
What's so bad about 3-4 cents a gallon cheaper gas?
Thursday, 3 July 2008
Scientists are just beginning to explore deep-water coral reefs, possibly millions of years old, that stretch from North Carolina to Florida. They form pristine oases, alive with fish, crabs and weird creatures that one researcher says "look like Dr. Seuss went crazy down there."
...
President Bush also called last month for more offshore oil and gas exploration. A federal moratorium now prohibits drilling along most of the U.S. coastline until 2012, and political opposition in North Carolina remains strong. But momentum to lift the ban is growing with the price of gasoline.
1. Canada
2. Mexico
3. Saudi Arabia
4. Venezuela
5. Nigeria
6. Angola
7. Iraq
8. Algeria
9. United Kingdom
10. Brazil
Originally posted by BlueTriangle
I've also seen photographs of the actual area where they're wanting to drill...it's a barren wasteland.
The next day a few of us flew from Kaktovik to Deadhorse, the “town” at the center of the Prudhoe Bay oil fields. The oil fields lie just to the west of the Canning River, which marks the western boundary of the Arctic Refuge. As we descended into Deadhorse, I noticed a brown layer of smog in the air above the oil fields. It was more like flying into Los Angeles than Alaska’s Arctic. The departure from the airplane into the heart of the largest industrial site on the planet (over 1,000 square miles of development, 100’s of miles of roads, and growing) was the rudest awakening of my life. After nearly three weeks of hearing nothing but the sounds of the wind, the river, the animals and birds, and the sound of my companions’ voices, the sound of heavy equipment was an assault to the senses.
I knew right then and there that we cannot let the coastal plain of the Arctic Refuge meet the same fate as had befallen the area around Prudhoe Bay. After all, the coastal plain of the Arctic Refuge is the only 5% of Alaska’s North Slope that is protected from development. The other 95% is either currently producing oil or will be available for future development. Where do we draw the line?
The 2,000-acre limitation only applies to “surface acreage covered by production and support facilities.” It doesn’t apply to seismic or other exploration activities, which have forever altered the arctic environment to the west. It doesn’t include gravel mines or roads. Since it applies only to “surface acreage,” the 2,000-acre limitation does not apply to pipelines that are elevated above the tundra - only to the vertical supports that actually touch the ground.
The Alpine oil field to the west of Prudhoe Bay contains 37 miles of pipelines. If we apply the oil industry’s “new math,” that would use up less than one-quarter of an acre. Paul Krugman of the New York Times recently calculated that his work “impact” is only a few square inches – the bottom of the legs on his desk and chair and the soles of his shoes. The rest of his office is pristine wilderness. Theoretically, British Petroleum or Exxon could blanket the Refuge with 296,000 miles of pipeline and still not exceed the 2000-acre limitation.
Originally posted by gimme_some_truth
I dont think I ever heard TEN years. Ive heard 3-5 years numerous times, wich seems to tie in with your post saying that it took that one crew 4 years.
Originally posted by Open_Minded Skeptic
More drilling just moves the problem, it does not solve it. And the later a problem is solved, the more expensive and painful the solution is.
Bad, bad, BAD idea.
Originally posted by BlueTriangle
We need to follow both roads