They Claim There's No Oil...Latest North Dakota Bakken Oil Field Estimates..........

Originally posted by beezzer
Drill, baby, drill.

I'd love to see OPEC come to us for a change, hat in hand.

I've never understood the whole 'drill baby drill' mentality. Drilling has increased exponentially over the years, and rising oil prices have risen along with the increase in available oil. The US already gets a lot of it's oil from within it's borders.

This is, of course, because the 'market' doesn't dictate prices, which are already kept artificially low in the US by subsidies. If it were up to the 'free market', gas would be about 10 bucks a gallon at the pump.

Sure, if the US could figure out a way to extract ALL their oil, overnight, it might lower the price of oil and gas TEMPORARILY, but then the US would have no more oil either. And this, of course, would play right into the hands of those other countries the US imports from.

That's right! "Drill Baby Drill" is the mantra of those who wish to squander our natural resources. They could care less of that oil is available in the coming decades. They want it NOW! Like the small child who can not understand how to save, and eats all his cookies at once.

Originally posted by Rockpuck
America will never drill for oil, because it would make it to cheap and thus no profit for oil companies.

It's funny how often that completely misleading meme gets perpetuated, but here's some actual facts;

America ALREADY drills for oil. About 5 million barrels a day, on average. Where have you been, under Iraq?

auto.howstuffworks.com...

www.eia.doe.gov...

I don't proclaim to know or understand the situation with the oil reserves of the US, however I am pretty confident that there is oil in the US the is being unused and rightfully so.

Imagine this, the United States could drastically alter the wealth structure of the world by simply purchasing oil and not using our own until the day that the rest of the world can not meet the demands of world oil consumption. At that point we can charge what we want and they will have no choice but to buy it.

It is an economic and military strategy that can and will work if practical alternatives are not developed before this event happens. Personally I'd prefer to not use our reserves until we have to provided it is still possible economically.

Peace
KJ

reply to post by incrediblelousminds




I'm saying at a rate which would either drive down the cost, and or become self reliant.

The US has the 3rd highest oil production in the World, after Saudi Arabia and Russia.

We produce half of all oil consumed in the US.. yet we import over 12m/bbl a day. We also export 1.8m/bbl a day.. how does that even make sense? Not as bad as Canada, who has the largest oil reserves in the World and imports most of it's petroleum. Canada's oil reserve to population ratio should make it the wealthiest country on earth.

reply to post by Rockpuck


America produces 8 billion barrels of oil per day, while we consume 20 billion barrels of oil per day.

And where was that poster who had that liberal socialist math saying we consume 20 billion barrels of oil per day. There is a big difference between millions and billions.

Anyway, producing 8 million barrels per day still leaves America at the mercy of OPEC.

But, wait! Liberal Socialists believe we should go back to the stone age and not use any oil at all??!!! Yeah, we almost tend to forget that liberal socialist fuzzy math stuff.

reply to post by KrazyJethro


America does not wait for the rest of the world to catch up to us. We are better than the rest of the world.

It's called American Exceptionalism. You should be proud to be an American Exceptionalist.

And what's all this stuff with Obama apologizing to the world because we are Americans??

we are out there in the rest of the world because the treehuggers will not let us drill here

we still have alot of resources ALOT and they handcuff drilling here at home.


its their fault. DRILL DRILL DRILL!

reply to post by ccponzi


I'm pretty extreme "conservative" and I don't find anything "conservative" about protecting oil companies? .. We should move away from oil, and oil based products. Hell if I had it my way, I'd ban plastic products as well. Being environmental does NOT have to be "Liberal" .. any God loving (not fearing!) man should want to do everything they can to protect the environment, even if it is at the cost of "conservatives" beloved oil corporations.

The so-called "obscene profits" of the oil comapnies is dwarfed by the obscene profits of government. The Federal tax is now 18.4 cents. State taxes are up to 44 cents (NY) and average 19 cents (AZ). When you add it all up the government makes about $14 Billion more per year than the oil companies do.

Oil company profit margins are also very small compared to other industries. Oil earns 5.7 cents per dollar. Beverages is over 20 cents. Drugs is 19 cents. Industry average is 8.5 cents. Even clothing is more at 7.7 centa. But you gotta have a bioogey man, and for the anti-capitalist crowd Big Oil serves that purpose.

The estimate seems to be incorrect, but even if it's 100% true it would only last us a decade or so. Not only that, but I seriously doubt you could extract enough out of this one spot to fill the gap in what we need to import.

I think we should be using algae oil, and am glad that there are many researchers experimenting with the green goo worldwide.

Yeah cause burning up the earths oil and turning it into disposable products is going well so far

How about we focus on replacing oil?

Originally posted by SmokeandShadow
Yeah cause burning up the earths oil and turning it into disposable products is going well so far

How about we focus on replacing oil?

Okay. Solar energy, windmills and rubbing two sticks together accounts for about five percent of the energy consumed in America.

What do you suggest we replace oil with? I mean, it's a nice Utopian thought, but, I'm just saying?

reply to post by unityemissions


You mean Oilgae. The stuff BP was pulling together when there was an accident in the Gulf, and the liberal socialists screamed to shut down all Oilgea production in the Gulf?

You mean that stuff?

Why is it that every time there is a potentially alternative energy, liberal socialists find something wrong with it? The answer: because liberal socialists never want to stop complaining about the state of the planet. It's a hobby with them.

Originally posted by Rockpuck
reply to post by ccponzi

 

I'm pretty extreme "conservative" and I don't find anything "conservative" about protecting oil companies? .. We should move away from oil, and oil based products. Hell if I had it my way, I'd ban plastic products as well. Being environmental does NOT have to be "Liberal" .. any God loving (not fearing!) man should want to do everything they can to protect the environment, even if it is at the cost of "conservatives" beloved oil corporations.

Yes, nice Utopian thoughts. Do you have a logical way of accomplishing all this. I mean, there's seven billion people on the planet. Do you tell them to all sit on their hands for ten or twenty years while you figure out a way to alter life completely?

Let's play a game: Does anyone here know anything about the alternative energy called Oilgae?

Give it a shot.

reply to post by ccponzi


bio fuels fuels made from algae

but people seem to forget that it has a lower burn rate than other fuels and it dependent on temperature

and people get less miles to the gallon

Do you posters realize that a third of all wells drilled are considered 'dry holes' and are capped but actually have oil in them but its not feasible right now to pump it out? Than many of the old wells of the 50's and 60's are now being re-drilled and large quantities of oil are now in those old 'Dry holes'?
Some folks need to actually go and talk to drillers and see exactly the games being played with our abundant oil supply here in the US. I come from a family of drillers going back to the early 1900's Peak oil is a scam folks and T.Boone Pickens who coined the term is playing the game to reap the profits. If you think for one minute that oil is scarce, I got this swamp I'm trying to unload for a very good price!

ZIndo

Originally posted by Rockpuck
reply to post by incrediblelousminds

 

I'm saying at a rate which would either drive down the cost, and or become self reliant.

The US has the 3rd highest oil production in the World, after Saudi Arabia and Russia.

I understand what you are saying. Unfortunately, taking as much oil out of the ground as possible in the shortest amount of time ALSO wouldn't effect the price of gas or oil, even in the short term, because oil prices are set by speculators who understand that oil is a finite resource, and that there is only so much that can EVER be taken out.

Look at it this way. You have one hundred gallons of oil under your property. Now, you could harvest that oil now and save a few bucks at the tank now (maybe), but then you have no oill to harvest in the future, meaning whatever nominal possible savings you see now would be negated by future increases directly related to the oil which you prematurely harvested.

It really is simple economics. And oil is a finite resource.

Originally posted by ccponzi
reply to post by unityemissions

 

You mean Oilgae. The stuff BP was pulling together when there was an accident in the Gulf, and the liberal socialists screamed to shut down all Oilgea production in the Gulf?

You mean that stuff?

Sources? What 'oilgae' that "BP was pulling together in the Gulf". And what 'liberal outcry'? As I recall, the only ones making any connection the BP spill and algae for fuel production were those who claimed Obama was working in cahoots with BP to turn the Gulf into an algae for fuel farm. It's in the deepwater discussion threads. I'm sure you recall.

reply to post by ccponzi


I'm not stuck in your box. The term liberal socialist has no meaning to me. There are many groups, some government funded, that are starting to produce algae oil. We should certainly be very wise about how we produce our energy needs, and how it effects the environment.