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Light Sweet Crude for $16.00 a BARREL


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Of course the major oil companies dont want anyone to know about THIS...

 

http://www.usgs.gov/newsroom/article.asp?ID=1911

 

 

Wtf people... There're BILLIONS of barrels worth of oil there... and more was discovered in the rockies... we would NO LONGER BE DEPENDANT on foreign oil...

 

 

NOT AT ALL!!!

 

 

:smoke:

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In 2007 we consumed 20,680,000 barrels of oil a day.

 

Assuming we are able to pump it out of the ground fast enough, we would be independent from foreign oil for...

 

Almost 208 days.

 

Then what do we do?

 

 

 

ETA

 

IMHO, the oil is worth more in new jobs.

Edited by KrisFox
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Kris... I agree its a small deal... but the point is its ANOTHER source of domestic oil... one we COULD tap... and its NOT THE ONLY ONE.... There are others they ignore as well... BIG OIL doesnt want us to have cheap oil! They want our money in their pockets!

 

 

:smoke:

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Any reason Bush/Obongo isn't trying to overflow the Strategic Petroleum Reserve right now? Should be trying to overflow that sucker theoretically. If for no other reason than to sell it off at a profit later this year or next when it's not dirt cheap. Oh yeah I know why, that'd actually make sense. I believe there is a motherload of oil rich shale in the OH//PA/TN/VA/WVA region as well. God forbid we actually create some jobs and risk spilling some oil on a bird or a cute baby otter.

Edited by Wotan1105
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Most oil production in the US will shut down is the value even gets close to that mark. Here in Kern County (oil country), Drilling has stopped and massive layoffs are occuring, production is being cut massively, and our refineries are closing. The Big West refinery (does 8% of California's Diesel and 4% of California's Gasoline) just anounced a shutdown. People do not realize how very slim the profit margins are in oil and gas - they rely on volume, and the world is using much less. Chevron is netting an 8% profit off of a gallon of gasoline, yet the state of California is netting a 23% profit off of a gallon of gasoline. An 8% profit margin on $16 a BBL oil does not justify production in most areas of the US. That massive amount of oil-based shale that started the oil boom in the Rockies needs about a $60 a BBL price in order to turn a profit. If it hits $16 a BBL, US production will shut down. That is the sad double edged sword of the American oil industry - the Saudis have profit margins our petroleum industry could only dream of for the same reasons that all of the manufacturing is being done in China and Korea.

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If we refused to let these crooks milk us for all we are worth and demanded new technology we would be extracting the massive amounts of hydrogen that can be pulled from petroleum sources rather than just refining it and burning it like some damned primitives.

 

Imagine 1 gallon of diesel powering a car for a week!

 

This kind of technology is withheld because it would destroy the oil business and end the corporate ass raping that makes them rich and grinds us to dust.

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I'm all for tapping our own natural resources, but I saw a segment on 60 minutes a few weeks back which "claimed" one of the biggest problems with the price of oil ping ponging around has to do with the way oil futures are traded on the stock market, not just supply and demand. If it's true, some type of market regulation would be a welcome change. As far as I'm concerned, if we can suck the other countries dry at a decent price while maintaining our reserves, at some point in time they're going to be our bitch for both food and oil.

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North America could be in the top 3 of oil producing regions if "they" would let us. Suspected deposits are everywhere. But another thing is Coal, with today's technology the stuff burns VERY clean. But that industry/fuel is no good to "them" Nuclear energy?? NOPE....

 

Only "Green Industry" will survive in the future. Our "leaders" have decreed this.

 

Fucking sad.

 

Its seems its only good if it makes us weaker and Al Gore richer.

Edited by Bean.223
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Unfortunately, our home-grown "enviro pirates" will highjack this opportunity, demand a complete environmental impact statement before proceeding to exploit this, and then tie it up in courts long enough for the cost to go up to $150/barrel. The bastards don't care; in fact, I'm beginning to think that these environerds are sleeping with the enemy; they may very well be part of the sleeping cells of anti-American population of the world. Think about it: what better way to keep us dependent on foreign oil than to hide behind the environmental issues associated with exploiting what we have underneath our feet and off our shores?

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If we refused to let these crooks milk us for all we are worth and demanded new technology we would be extracting the massive amounts of hydrogen that can be pulled from petroleum sources rather than just refining it and burning it like some damned primitives.

 

Imagine 1 gallon of diesel powering a car for a week!

 

This kind of technology is withheld because it would destroy the oil business and end the corporate ass raping that makes them rich and grinds us to dust.

 

 

You realize that a windmill sitting in the ocean can generate hydrogen all day long right.. aparently Denmark has windmills doing this right now...

 

But you're right, oil & coal are the materials that have the most hydrogen packed into them...

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Unfortunately, our home-grown "enviro pirates" will highjack this opportunity, demand a complete environmental impact statement before proceeding to exploit this, and then tie it up in courts long enough for the cost to go up to $150/barrel. The bastards don't care; in fact, I'm beginning to think that these environerds are sleeping with the enemy; they may very well be part of the sleeping cells of anti-American population of the world. Think about it: what better way to keep us dependent on foreign oil than to hide behind the environmental issues associated with exploiting what we have underneath our feet and off our shores?

 

Yep, thats what is going on and why we cant compete with the Saudis.

 

On related topic of enviros "sleeping with the enemy", I recently heard an analyst propose the following scenario;

 

Russia and/or China extend the hand of peace and cooperation to Obama, agreeing to enter the Kyoto Accord if the United States Does the same. The world celebrates and Obama is worshiped as a uniter of the world and a champion of the environment. Lots of photo ops and the world seems to be headed into liberal utopia. Meanwhile, the US destroys what is left of our production and energy sectors by putting impossible limitations on everything from travel to making candy bars. The Russians and Chinese submit plans outlining changes they are implementing, but really do nothing to comply with Kyoto, and in fact do just the opposite and expand energy development, infrastructure, and military capability. The US collapses into quasi third-world status while Russia and China emerge as global Goliaths. Interesting scenario.

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