"CRUDE" oil, an absolute must see program !!!

ummm,,,,where do you get your figures??since i'm half owner of a company that rents equipment to these oil wells,,,,and that equipment also counts the barrels of water and oil that come out of the ground,(also the natural gas,,,,but that not counted in barrels) and i eat lunch every thursday with exxon,united,and other feild managers,,and i get the monthly report from conoco phillips,,,,where do you think converting corn is cheaper then pumping oil?
and crude oil will NEVER return to its 50 or 60 bucks a barrel,,,and only 14% of ALL new wells last year was in those "oil rich" countries,,,,,they've already got more wells then their ground "faults" will handle. the united states made it o.k. just 7 months ago to allow 1 more well an acre,,bringing total to 5,,,which even the industry has worries about.and after the new regulation,,,,most companies have exhausted their quota.
and frosty,,,,,i got a horse and 2 cows i'll trade ya fer the row boat

 

Texas may have ALL the oil under the ground but Oz has most of the iron ore - and it just sits on the surface for the taking. We're laughing all the way to the bank.
http://www.reuters.com/article/companyNews/idUSN2521971920080225

Pity is it will run out as well - in 300 to 400 years. Not my worry.

Rick W.

 

texas aint crap compared to them canukes that has oil ON TOP and mixed with their ground.,,,,,GO NORTH they say GO NORTH hehe

 

can someone tell me if this is true?? in USA we have more oil resrves than aneywhere else in the world including the middle east ,,we have texas ,oklahoma louisianna ,the gulf of mexico the atlantic ,,pennsylvania ,kentucky and alaska ,,but choose to use the rest of the worlds supply,,why? dubui is gonna run out in 10 years ,,the middle east ?maybe 40 or 50,,,,,,whats going on,longliner

 

The odd thing about $100 is that so long as demand is strong, which it is, the oil rich countries have plenty of revenue so the incentive is to actually husband the resource and exhaust it slowly. Over producing a well can reduce the ultimate production from that well, once they figure they are in decline they will get more defensive about the resource. Irony is at $10 a barrel they had to pump as much as they could to keep the economics of their counties working. Then the incentive was to lie about quotas and reserves etc so they got to pump more. Hence the ME BS'ed its way to reserves it has not got during the bear market years. I know that's against economics 101 but economics 101 doe not deal with finite resources very well.

 

Expensive oil though!

 

If its true it may be strategic. If you believe the powers that be planned the cordoning of of reserves way back in the 70's sometime. Why use yours when you can use theirs first? If it is true... how you find out ? For a critical resource a chit load of guess work goes on.

 

we have enough oil to power the military for 100 yrs,,,all over the place in storage tanks,,,,but I just cant imagine a oil full America while the rest of the world is dry,longliner

 

We can make fuel from coal, the US also has heaps of coal, but at what cost and how dirty? Cheap, clean energy is the issue.

 

we are investing billions in wind turbine tecnology,and water turbines,,,,some solar ,,what about Austrailia?,,not being confrontational,,,,just curious....longliner

 

Yeah whats the bloody Aussies doing about it,--bugger all mate.

I see that in Melbourne today they have set up a dummy refugee camp to show the aussies how terrible living in a camp with no home or country to go to.

What they are really saying is the Aussies should let more refugees in and be a little more compassionate and less greedy. They have hundreds of thousands of miles of unoccupied land.

Im not being curious,,,,, just ,,,,confrontational.

 

In reality it don't matter what we do, we don't add up to one big northern hemisphere city, we are bit players, what ever we achieve is largely symbolic unless its a great new tech. But yeah all of the above... we are world leaders in solar just in case ya all did not know. For my money geothermal is the most promising supply of base load power and yeah we are doing that as well. I'd wager that per head we are out doing a lot of places...

 

Frosty
We are building massive desalination plants to overcome our water shortage. Started before we committed to Kyoto I should add.

Why put up with water shortages when we can just burn some of our crappy brown coal to produce an abundance of water. Water is our issue not oil.

In fact isn't oil used around the Mediterranian to produce purified water. If you have heaps of the stuff why not use it to make life easier.
http://www.turkishweekly.net/news.php?id=30894
At 25halalas per litre for diesel YOU could even afford to use your boat. (To save you the effort of converting that is USD0.07/litre). About 1/20th the cost of diesel in Oz. But then we have so much filthy coal we just let it burn in the ground:
http://news.ninemsn.com.au/article.aspx?id=80140&rss=yes]
Maybe you should convert to coal and make a trip down here to bunker.

Rick W.

 

Yeeee Haaaaa

Replying to your message requiring my attention on the "CRUD" thread.... Woooops, CRUDE - - -Eh did not see the E, Eh

The 20/30 year thing is not far off the mark - from crowded suburb to fully operational nukulululuar power plant or major cole fired electric system the oft quoted time lag is in the vicinity of 20/30 years which also needs a lot of infrastructure, training, design, earthquake & other anal ysis etc...

It's just that this time-lag was presented by some proponents, including all the ground work & research to be up and fully running.....

 

Yup ,--I guess so,----- Yaaaawn.

Oh Oh heres something interesting the ******** are putting the beer up during happy hour at the yacht club,---yeah I know,--- bloody disgusting.

happy hour beer will be 4 ringet from 3 ringet ---thats --thats nearly 1 ringet increase. 3 ringet to an AU dollar.

I dont know what that is in %