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Getbig Main Boards => Gossip & Opinions => Topic started by: Mark Kerr on June 18, 2008, 08:29:18 AM
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I think this is all it will take for Saudi Arabia to increase oil production.
Bush asks Congress to clear way for offshore oil drilling
WASHINGTON (CNN) -- President Bush asked Congress Wednesday to permit drilling for oil in deep water off America's coasts to combat rising oil and gas prices
"There is no excuse for delay," the president said in a Rose Garden statement.
Bush also renewed his demand that Congress allow drilling in Alaska's Arctic National Wildlife Refuge, or ANWR, clear the way for more refineries and encourage efforts to recover oil from shale in areas such as the Green River Basin of Colorado, Utah and Wyoming.
Bush said that the basin potentially contains more than three times as much recoverable oil as Saudi Arabia's proven reserves, and that the high price of oil makes it profitable to extract it.
"In the short run, the American economy will continue to rely largely on oil, and that means we need to increase supply here at home," said Bush, adding there is no more pressing issue than gas prices for many Americans.
The White House estimates there are 18 billion barrels of oil offshore that have not been exploited because of state bans, 10 billion to 12 billion in the Alaska National Wildlife Reserve, and 800 billion barrels of recoverable oil in the Green River Basin.
However, much of the U.S. oil is difficult or impossible to extract under current law.
As for gas prices, resuming offshore exploration would not be a quick fix.
"If we were to drill today realistically speaking we should not expect a barrel of oil coming out of this new resource for three years, maybe even five years, so let's not kid ourselves," said Fadel Gheit, oil and gas analyst with Oppenheimer & Co. Equity Capital Markets Division.
But it almost certainly would be profitable.
Candida Scott, an oil industry researcher at Cambridge Research Associates, said oil needs to be priced at $60 a barrel or more to justify deep-shelf drilling. With oil now selling for $134 a barrel, companies are almost assured of profiting from offshore drilling, Scott said.
"For years, the president has pushed Congress to expand our domestic oil supply, but Democrats in Congress have consistently blocked such action," White House Press Secretary Dana Perino told CNN before Bush spoke.
She added, "As with several existing Republican congressional proposals, he wants to work with states to determine where offshore drilling should occur, and also for the federal government to share revenues with the states. The president believes Congress shouldn't waste any more time."
Congressional Democrats last week introduced a bill to compel oil companies to begin utilizing federal land they already lease.
"Oil companies are sitting on 68 million acres they have already leased from the American people for the purpose of oil and natural gas production," said Sen. Bob Menendez, D-New Jersey.
"It is about time they use these resources already at their disposal instead of waiting for more federal handouts and pushing to drill in the Arctic National Wildlife Refuge or up and down our coasts," he added.
Bush's request came a day after presumed Republican presidential nominee John McCain issued the same call at a campaign event in Houston, Texas.
"We have proven oil reserves of at least 21 billion barrels in the United States," he said. "But a broad federal moratorium stands in the way of energy exploration and production. And I believe it is time for the federal government to lift these restrictions and to put our own reserves to use."
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I'm not reading all that but I hope you are right!
Bump for Free Gas!
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it'll take 4 years for those rigs to start pumping.
exxon will raise prices to pay for those rigs.
enjoy your lower prices in 2017.
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it'll take 4 years for those rigs to start pumping.
exxon will raise prices to pay for those rigs.
enjoy your lower prices in 2017.
as opposed to $20/gallon in 2017? i'll take it.
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it'll take 4 years for those rigs to start pumping.
exxon will raise prices to pay for those rigs.
enjoy your lower prices in 2017.
If they don't do anything, these gas prices will bankrupt the country. This is also a great political move. It will make the countries in the middle east take a look at increases their oil production. They don't want to lose money in the long run over price gouging. It's good to see something is being done about it.
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If they don't do anything, these gas prices will bankrupt the country. This is also a great political move. It will make the countries in the middle east take a look at increases their oil production. They don't want to lose money in the long run over price gouging. It's good to see something is being done about it.
How's the training going Mark?
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your gettn it easy in the states, were payin almost double what your paying, as we get a massive tax added on too... the prices are rising because of the clever fuckers gambling in the city,,, the production will and always will be just ahead of demand, only thing thats changed is the current market
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Dont worry if Obama gets his way and that moron Gore gets his way. Taxes on gas will go thru the roof.
And we will be paying as much as you.
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it'll take 4 years for those rigs to start pumping.
exxon will raise prices to pay for those rigs.
enjoy your lower prices in 2017.
If dems in congress(and people with ur type of logic) didnt stop us 10 years ago it would be done already.
Oh yeah and say thanx to the environmentalist wackos too.
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If dems in congress(and people with ur type of logic) didnt stop us 10 years ago it would be done already.
So um, why didn't the repub controlled congress do it from 2000 til 2006?
Zinggggggggggggggggg
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How's the training going Mark?
shut up, stupid.
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So um, why didn't the repub controlled congress do it from 2000 til 2006?
Zinggggggggggggggggg
When the Dems took over almost 2 years ago, Polosi promised they would see to it gas went down. Since then it's gone almost $2.00 per gallon.
There is 19mil acres set aside in Anwr, the Oil companies only want to drill on 2000 acres and libs are stopping it.
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When the Dems took over almost 2 years ago, Polosi promised they would see to it gas went down. Since then it's gone almost $2.00 per gallon.
There was 19mil acres set aside in Anwr, the Oil companies only want to drill on 2000 acres and libs are stopping it.
Why didn't the republicans drill it from 2000 til 2006?
Look, we all know dems are pussies about drilling, Bush knows it too. Why the hell didn't he start drilling when he had the power to push the legislation thru?
If the dems had prevented it for 7 years, I'd agree here. But it was the repub senate that killed the bill over and over from 00 to 06. You expect dems to do that... but repubs?
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it'll take 4 years for those rigs to start pumping.
exxon will raise prices to pay for those rigs.
enjoy your lower prices in 2017.
Jesus man, your always so negative about everything..just bury your fucking head in the sand like the rest of us!
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If they don't do anything, these gas prices will bankrupt the country. This is also a great political move. It will make the countries in the middle east take a look at increases their oil production. They don't want to lose money in the long run over price gouging. It's good to see something is being done about it.
What will happen is that, if enough Americans revolt against Washington, a non-oil President will turn Saudi Arabia into the next Afghanistan.
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revolt against Washington
revolt how?
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Why didn't the republicans drill it from 2000 til 2006?
Look, we all know dems are pussies about drilling, Bush knows it too. Why the hell didn't he start drilling when he had the power to push the legislation thru?
If the dems had prevented it for 7 years, I'd agree here. But it was the repub senate that killed the bill over and over from 00 to 06. You expect dems to do that... but repubs?
Bill Clinton pushed through a 30 moratorium on drilling in ANWR, that would be something very tough indeed to push aside. Environmentalists are quite vocal and well funded plus they have some powerful voices with the media machine. Face it, in this country politics is a job and getting elected/re-elected trumps everything..even common sense, foresight and doing something that is right but unpopular. Besides, back then who cared about exploiting our own resources and truly becoming energy independent? It wasn't a "hot button" issue that people cared about, gas was cheap and it wasn't going to get anyone any cheap political points and no-one cared b/c gas was so cheap. Now it seems like a real no-brainer because people care now that it effects them, and with that, the politicians can get re-elected.
Although the Repub. congress from 2000-06 wasn't exactly "good" or "conservative", since the Dems promised all sorts of stuff like a "solid, common sense plan" to bring gas prices down (it sounds so easy when they say it!!) gas has gone up to the stratosphere and the best "ideas" they can bring to the table have been suing OPEC, having quaint populist show trailer with the oil Execs (Chairman Mao would be so proud!) and still be vehemently against domestic energy production and exploration.
Both sides have fumbled the ball horribly, no doubt about that...
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revolt how?
With arms and tax dollars, my friend.
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What will happen is that, if enough Americans revolt against Washington, a non-oil President will turn Saudi Arabia into the next Afghanistan.
lol at "non-oil president"
Brutal 4th grade view of the petroleum based worldwide economy.
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I think this is all it will take for Saudi Arabia to increase oil production.
U.S.A continues to search for new oil sources like a retard, instead of eliminating the root of the problem: the dependency on oil in the first place. It is amazing that in 2008 the U.S still continues to use massively an energy source from the 19th Century. The burning of oil prduces far more carbon monoxide than the burning of alchols, for instance, and yet the U.S refuses to utilize that energy source because it requires a large initial investement, even though it becomes very cost-effective once you have the refineries installed for processing. Americans' colossal greed and stupidity will destroy Planet Earth. This single country with only 4% of the World's population is responsible for one third of all toxic wastes expelled into the air, oceans, rivers and ground.
SUCKMYMUSCLE
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U.S.A continues to search for new oil sources like a retard, instead of eliminating the root of the problem: the dependency on oil in the first place. It is amazing that in 2008 the U.S still continues to use massively an energy source from the 19th Century. The burning of oil prduces far more carbon monoxide than the burning of alchols, for instance, and yet the U.S refuses to utilize that energy source because it requires a large initial investement, even though it becomes very cost-effective once you have the refineries installed for processing. Americans' colossal greed and stupidity will destroy Planet Earth. This single country with only 4% of the World's population is responsible for one third of all toxic wastes expelled into the air, oceans, rivers and ground.
SUCKMYMUSCLE
Give in to your HATE! Embrace the dark side!
(http://www.head-cleaners.com/palpatine.jpg)
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My truck gets great gas mileage!
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your gettn it easy in the states, were payin almost double what your paying, as we get a massive tax added on too... the prices are rising because of the clever fuckers gambling in the city,,, the production will and always will be just ahead of demand, only thing thats changed is the current market
What is your average drive time round trip to work?
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U.S.A continues to search for new oil sources like a retard, instead of eliminating the root of the problem: the dependency on oil in the first place. It is amazing that in 2008 the U.S still continues to use massively an energy source from the 19th Century. The burning of oil prduces far more carbon monoxide than the burning of alchols, for instance, and yet the U.S refuses to utilize that energy source because it requires a large initial investement, even though it becomes very cost-effective once you have the refineries installed for processing. Americans' colossal greed and stupidity will destroy Planet Earth. This single country with only 4% of the World's population is responsible for one third of all toxic wastes expelled into the air, oceans, rivers and ground.
SUCKMYMUSCLE
The U.S. and the world is doing this as we speak, better cars, nuclear power, solar, wind new sources of biofuels...the list goes on. In the mean time the U.S. must exploit its domestic sources to be able to purchase oil not from state owned OPEC companies but from U.S. firms from U.S. sources. I know it is a global market and the price will be the same whoever you buy it from, but we will be buying domestic. This will cut our trade deficit (400 billion dollars from imported oil or 50% of our total trade deficit) strengthen our dollar and will even provide jobs sourced from local sites and hired nationally for this endeavor. Hell, our natural gas deposits could be used to replace imported oil in the short and intermediate term until nuclear and other green and sustainable sources are developed.
You know, it would be cute to say "hey, forget the oil and do something else man!!!" and then snap your fingers and magically we are energy independent but that is an amateurish and naive way to look at it. You can't be energy independent without producing more domestically, that means oil and electricity.
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This is the best speech I've seen from Bush. F*ck the middle east. They have been a thorn in the worlds ass since the beginning of time.
http://www.cnn.com/2008/POLITICS/06/18/bush.offshore/index.html#cnnSTCVideo
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The world oil market has been supply driven since 1999.
Any new domestic production will be just a pimple on the ass of world oil demand.
Experts like Stephen Leeb were writing about this back in 2001.
Even ANWR at FULL PRODUCTION is only estimated at 500,000 bbls/day and that would take us 15 years to hit that peak production.
We had CHEAP ENERGY (10 dollar/bbl oil) in the 80's to pull us out. We don't have that this time, Our country and standard of living as we know it are royally fucked.
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The world oil market has been supply driven since 1999.
Any new domestic production will be just a pimple on the ass of world oil demand.
Experts like Stephen Leeb were writing about this back in 2001.
Even ANWR at FULL PRODUCTION is only estimated at 500,000 bbls/day and that would take us 15 years to hit that peak production.
We had CHEAP ENERGY (10 dollar/bbl oil) in the 80's to pull us out. We don't have that this time, Our country and standard of living as we know it are royally fucked.
Good post, I agree. You are right about the idea's of the 80's, it's too late to convert the country to electric and solar energy.
We are fu*ked.
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U.S.A continues to search for new oil sources like a retard, instead of eliminating the root of the problem: the dependency on oil in the first place. It is amazing that in 2008 the U.S still continues to use massively an energy source from the 19th Century. The burning of oil prduces far more carbon monoxide than the burning of alchols, for instance, and yet the U.S refuses to utilize that energy source because it requires a large initial investement, even though it becomes very cost-effective once you have the refineries installed for processing. Americans' colossal greed and stupidity will destroy Planet Earth. This single country with only 4% of the World's population is responsible for one third of all toxic wastes expelled into the air, oceans, rivers and ground.
SUCKMYMUSCLE
exactly - fuck the wildlife who would die with all this drilling, fuck the atmosphere and the planet we want cheap fucking gas !!! get a grip of yourselves people.
you were told there would be cheaper gas after the 1st war in Iraq - it went up. ::)
you were told you'd have cheaper gas after the 2nd war in Iraq - it went up ::)
now your being told if you ruin wildlife reserves, etc etc you'll have cheaper gas ::) trust me it will go up again.
the only constant in this is ( and you can look this up) the oil company's are making record profits year after year.
The U.S. and the world is doing this as we speak, better cars, nuclear power, solar, wind new sources of biofuels...the list goes on. In the mean time the U.S. must exploit its domestic sources to be able to purchase oil not from state owned OPEC companies but from U.S. firms from U.S. sources. I know it is a global market and the price will be the same whoever you buy it from, but we will be buying domestic. This will cut our trade deficit (400 billion dollars from imported oil or 50% of our total trade deficit) strengthen our dollar and will even provide jobs sourced from local sites and hired nationally for this endeavor. Hell, our natural gas deposits could be used to replace imported oil in the short and intermediate term until nuclear and other green and sustainable sources are developed.
You know, it would be cute to say "hey, forget the oil and do something else man!!!" and then snap your fingers and magically we are energy independent but that is an amateurish and naive way to look at it. You can't be energy independent without producing more domestically, that means oil and electricity.
you need to get your head out of your ass. it is well known oil is running out, it has been known since the 70's that we had reached a peak and it was all running dry.
now 30+ years later and they still haven't come up with something ::)
it would be cute if people weren't so fucking dumb to magically believe that 30+ years isn't enough to develop one of the countless cheaper/more efficient/ cleaner forms of energy production that have been discovered by the scientific community since the 70's. ::)
but hey fuck all that shit - i want cheaper fucking gas >:(
so sad :'(
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exactly - fuck the wildlife who would die with all this drilling, fuck the atmosphere and the planet we want cheap fucking gas !!! get a grip of yourselves people.
you were told there would be cheaper gas after the 1st war in Iraq - it went up. ::)
you were told you'd have cheaper gas after the 2nd war in Iraq - it went up ::)
now your being told if you ruin wildlife reserves, etc etc you'll have cheaper gas ::) trust me it will go up again.
the only constant in this is ( and you can look this up) the oil company's are making record profits year after year.
you need to get your head out of your ass. it is well known oil is running out, it has been known since the 70's that we had reached a peak and it was all running dry.
now 30+ years later and they still haven't come up with something ::)
it would be cute if people weren't so fucking dumb to magically believe that 30+ years isn't enough to develop one of the countless cheaper/more efficient/ cleaner forms of energy production that have been discovered by the scientific community since the 70's. ::)
but hey fuck all that shit - i want cheaper fucking gas >:(
so sad :'(
Lol, calm down there buddy. I do agree though that we need to find alternative fuels. Imagine what it would be like with us running on clean burning coal. We literally would not need to worry about energy production and buying fuel from other countries. Something tells me we already have the technology though.
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Lol, calm down there buddy. I do agree though that we need to find alternative fuels. Imagine what it would be like with us running on clean burning coal. We literally would not need to worry about energy production and buying fuel from other countries. Something tells me we already have the technology though.
agreed, i also believe we have it already.
unfortunately i can also see what will happen before its released.
world war, famine, mass riots, etc etc :'(
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Gas will go down... ;D So will insurance rates, health care cost, college tuition... Not a F-ing chance.
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agreed, i also believe we have it already.
unfortunately i can also see what will happen before its released.
world war, famine, mass riots, etc etc :'(
No, I think they will just fuck us completely and then when the end seems near they will unveil this technology. If it is cheap, and should be considering the amount of coal we have, then we will all consume like never before. One nice thing will be the break in the dependence on the Middle East.
As far as the oil companies go, I think they will start losing trucks like in the Carter days.
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agreed, i also believe we have it already.
unfortunately i can also see what will happen before its released.
world war, famine, mass riots, etc etc :'(
Yeah...we are all gonna die..... ::)
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exactly - fuck the wildlife who would die with all this drilling, fuck the atmosphere and the planet we want cheap fucking gas !!! get a grip of yourselves people.
you were told there would be cheaper gas after the 1st war in Iraq - it went up. ::)
you were told you'd have cheaper gas after the 2nd war in Iraq - it went up ::)
now your being told if you ruin wildlife reserves, etc etc you'll have cheaper gas ::) trust me it will go up again.
the only constant in this is ( and you can look this up) the oil company's are making record profits year after year.
you need to get your head out of your ass. it is well known oil is running out, it has been known since the 70's that we had reached a peak and it was all running dry.
now 30+ years later and they still haven't come up with something ::)
it would be cute if people weren't so fucking dumb to magically believe that 30+ years isn't enough to develop one of the countless cheaper/more efficient/ cleaner forms of energy production that have been discovered by the scientific community since the 70's. ::)
but hey fuck all that shit - i want cheaper fucking gas >:(
so sad :'(
Wow, epic meltdown and not offering any solutions or ideas of your own. Apparently you are an idiot. Also, if we start exploring and exploiting more domestic oil, coal and natural gas this doesn't mean that all of a sudden the alternatives and sustainables will stop being produced and researched you fucking moron. You can do both at the same time....epic idiocy. I do remember me saying that producing domestically was for the short to intermediate term, not something to completely rely on. Before utterly melting down and making a mockery of the English language, you should stop and think before you type.
Epic inability to use logic and comprehend the English language.
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Lol, calm down there buddy. I do agree though that we need to find alternative fuels. Imagine what it would be like with us running on clean burning coal. We literally would not need to worry about energy production and buying fuel from other countries. Something tells me we already have the technology though.
There is evidence that suggest the technology is there, and has been for at least ten years which would make oil irrelevant. It is not irrational to believe there have been very powerful commercial interests which have suppressed the reality of this technology.
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There's plenty of oil out there fucktards.
It's just going to sit there unless you go get it.
Hope that helps.
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Wow, epic meltdown and not offering any solutions or ideas of your own. Apparently you are an idiot. Also, if we start exploring and exploiting more domestic oil, coal and natural gas this doesn't mean that all of a sudden the alternatives and sustainables will stop being produced and researched you fucking moron. You can do both at the same time....epic idiocy. I do remember me saying that producing domestically was for the short to intermediate term, not something to completely rely on. Before utterly melting down and making a mockery of the English language, you should stop and think before you type.
Epic inability to use logic and comprehend the English language.
wow epic ignoring the facts , and burying your head in the sand.
here's a clue for your retarded 3 brain cells - they already have solutions !
try google once in a while before you type more bullshit.
they have the solution but wont use it. they are simply bleeding you dry, your just too retarded to realise. ::)
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From an economic standpoint even if ANWAR(sp?) and Offshore drilling wouldnt have a noticable impact upon the market from a supply standpoint, it might have an effect upon the price of oil since it shows a sign that we are doing something and the price of oil right now really is based in large part upon fear. The market is consumer driven and if consumers have confidence then the price will go down. I know there are several other factors, but this would be a residual benefit besides the few extra barrels we would produce.
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U.S.A continues to search for new oil sources like a retard, instead of eliminating the root of the problem: the dependency on oil in the first place. It is amazing that in 2008 the U.S still continues to use massively an energy source from the 19th Century. The burning of oil prduces far more carbon monoxide than the burning of alchols, for instance, and yet the U.S refuses to utilize that energy source because it requires a large initial investement, even though it becomes very cost-effective once you have the refineries installed for processing. Americans' colossal greed and stupidity will destroy Planet Earth. This single country with only 4% of the World's population is responsible for one third of all toxic wastes expelled into the air, oceans, rivers and ground.
SUCKMYMUSCLE
1-we have no evidence humans have any impact on the climate...it might be the biggest hoax of the century and one day people will look at what have been said with laughters.
2- recent researches say that earth is actually PRODUCING crude oil from far under the crest , and that oil's origine is not fossile, but far deeper into the earth's mantle. It means that there will never ever be any shortage.
3-USA are responsible for 90% of the world being at PEACE being the policemen of the world. Maybe you should think what the world would look like WITHOUT the USA leading it.