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why aren't we drilling our way out of this recession?

Steve

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many would argue we don't...

But here's the catch: There is a chance that the MMS has miscalculated the amount of offshore oil, because its estimates are based on 30- to 40-year-old data. For example, MMS spokesperson Nicholas Pardi says a 1987 survey of the Gulf of Mexico indicated there was potentially nine billion barrels of oil there, but when the area was resurveyed nine years later (using newer technologies), the number jumped to potential 45 billion barrels.

why even bother drilling for nine billion barrels when it will take ten years to extract and won't make a huge dent.. is always the answer..

NEW YORK (AP) — ExxonMobil Corp. disclosed details Wednesday of an oil and gas field that could prove to be one of the largest discoveries in the Gulf of Mexico in recent years.

The oil giant said three discoveries at its exploration project 250 miles southwest of New Orleans have the combined potential for more than 700 million barrels of recoverable oil and gas equivalent.

Canada is scrapping oil off sand to sell to US.. and we constantly have to ignore huge oil discoveries in our own front yard.. WHY?

would 700 million barrels of oil help our economy?

at 87 bucks a barrel it wouldn't hurt..
 

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In May, Noble Energy Inc. announced it had discovered oil as part of a continuing drilling operation in the Gulf.

The company said it found oil deposits 60 feet thick when it drilled to a depth of about 18,920 feet, from a well located in 6,500 feet of water, about 70 miles southeast of Venice, La

Santiago is the third oil discovery in Noble's Galapagos project in the Gulf of Mexico, including prior successes at Santa Cruz and Isabela. Noble expects all three wells will be online early next year. The company estimates the three discoveries contain 130 million barrels of oil.

Noble now estimates the Galapagos project will increase its net oil production by more than 10,000 barrels per day, and deliver "significant near-production and cash flow for our business," Davidson said.

130 million barrels in May

700 million barrels in June
 

Steve

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After nearly of a year of drilling delays — first with a government-imposed moratorium and then a months-long “permitorium” — the administration has only recently begun to issue permits for deepwater wells. However, the pace still lags significantly behind the historical average, causing economic harm to the region.

New data from Greater New Orleans Inc. last week indicated that deepwater permit issuance from the Bureau of Ocean Energy Management, Regulation and Enforcement is down 88 percent from the previous year’s average.

Even shallow-water permits are down 15 percent from the historical average of 7.1 per month. The administration is currently approving six shallow-water permits per month.

Given the news of ExxonMobil’s discovery, one can only wonder how much oil production was sacrificed as a result of the moratorium and the Obama administration’s subsequent delays.

“Let’s remember that this successful project was approved and moving into location at the time the moratorium was put into place, and sat idle from 2010 through March 2011,” House Oversight Chairman Darrell Issa said in response to the news. “Lost time is lost opportunity and the economic price has been paid by workers in the Gulf region and consumers at the gas pump.”

The U.S. House recently passed a trio of bills that would increase energy production that now await action in the Democrat-controlled Senate.

if Obama really wanted to kick-start jobs.. he wouldn't be visiting a bunch of states up north,..
 

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The quarter-million barrels a day currently being produced from the Bakken is already partly responsible for the glut of oil seen in Cushing, Okla., one of the United States' main oil storage and distribution hubs. The glut has helped distort U.S. oil prices in relation to the worldwide market.

It has also already contributed to a modest drop in foreign oil imports.

Plus it's creating jobs.

Sheffield estimates that with the new technology, the country could produce an extra 2 million barrels a day from both the Bakken and from shale oil trapped in existing traditional oil fields.

"If we get 2 million barrels a day, that could have a major impact on world oil prices,"

creating jobs..


North Dakota State University estimates the oil workforce has gone from just over 5,000 in 2005 to over 18,000 in 2009.

Hamm said the industry now employs 30,000 in the state, and if production does hit a million barrels a day, it could employ over 100,000 people there.
if a million barrels would create 100,000 jobs..

then could we honestly say 130 million would create jobs as well..

and that 700 million barrels might just drop the unemployment rate a bit as well?

maybe someone could explain why the President who says jobs are his number one priority isn't looking at these two job markets?

oh I forgot he is looking at them.. at his own lazy pace, taking his own sweet time and delaying them as much as possible..
 

hypocritexposer

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Read today that obama is going to allow drilling permits to be issued in Alaska...

....too little too late in my opinion, but it may help a bit.
 

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BP's Tiber prospect, unveiled in 2009 as holding an estimated 4 billion to 6 billion barrels of oil equivalent,

The Tiber Oil Field is a deepwater offshore oil field located in the Keathley Canyon block 102 of the United States sector of the Gulf of Mexico. The deepwater field (defined as water depth 1,300 to 5,000 feet (400 to 1,500 m),[3]) was discovered in September 2009 and it is operated by BP. Described as a "giant" find, it is estimated to contain 4 to 6 billion barrels (640×106 to 950×106 m3) of oil in place.

Following the April 2010 destruction of the Deepwater Horizon while drilling the Macondo well, and the resulting oil spill, all appraisal activities at 33 wells under exploration in the Gulf of Mexico, including Tiber, were placed on hold

I realize the deep-water tragedy should be investigated and changes put in place to prevent them, but shouldn't these leases be opened up to other companies?

4 to 6 billion barrels would impact prices and create jobs..
 

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hypocritexposer said:
Read today that obama is going to allow drilling permits to be issued in Alaska...

....too little too late in my opinion, but it may help a bit.

it appears he does a few high profile permits occasionally just to make it look like he cares..

but as I have shown.. in the last few years we have seen some major oil discoveries..

and I only focused on recent discoveries.. we have oil in Utah.. not being produced.. most of Alaska and the whole east coast is still off limits..

and if a person did a bit of research, there are discoveries being made almost everywhere.. and for every barrel of oil we find and use, it creates jobs, and revenue..

so if we need oil.. jobs,.. and revenue.. why not go for the low hanging fruit today?
 

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hypocritexposer said:
Read today that obama is going to allow drilling permits to be issued in Alaska...

....too little too late in my opinion, but it may help a bit.

Shell Alaska permit revoked

Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans

Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits.

Shell has spent five years and nearly $4 billion dollars on plans to explore for oil in the Beaufort and Chukchi Seas. The leases alone cost $2.2 billion. Shell Vice President Pete Slaiby says obtaining similar air permits for a drilling operation in the Gulf of Mexico would take about 45 days. He’s especially frustrated over the appeal board’s suggestion that the Arctic drill would somehow be hazardous for the people who live in the area.

The closest village to where Shell proposed to drill is Kaktovik, Alaska. It is one of the most remote places in the United States. According to the latest census, the population is 245 and nearly all of the residents are Alaska natives. The village, which is 1 square mile, sits right along the shores of the Beaufort Sea, 70 miles away from the proposed off-shore drill site.

The EPA’s appeals board ruled that Shell had not taken into consideration emissions from an ice-breaking vessel when calculating overall greenhouse gas emissions from the project. Environmental groups were thrilled by the ruling.

At stake is an estimated 27 billion barrels of oil.

if this is the permit Obama allowed then it really isn't a new permit, but another permit that should have been already approved,.. but became tangled in his web of regulations..

27 billion barrels.. can we say jobs.. revenue.. and oil..

“It’s driving investment and production overseas,” said Alaska’s DNR Commissioner Dan Sullivan. “That doesn’t help the United States in any way, shape or form.”

Production on the North Slope of Alaska is declining at a rate of about 7 percent a year. If the volume gets much lower, pipeline officials say they will have to shut it down.
 

hypocritexposer

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It's not really that difficult.....learn by what others are doing, learn also from their mistakes.


but you have an ideologue as President.....it's his way or the highway, with some mobs, Black Panthers and some gun running, thrown in, just to get the point across.
 

Larrry

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No one could screw up the enegy situation and what we are going through unless it WAS THEIR INTENTION
 
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at this point, we could have all of the oil and gas in the world would not save us...wall street destroyed us during the bush years...

$60 trillion in debt...

s&p downgraded us...

destroying the land/water for our children by using frac drilling is not a solution...
 

hypocritexposer

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shaumei said:
at this point, we could have all of the oil and gas in the world would not save us...wall street destroyed us during the bush years...

$60 trillion in debt...

s&p downgraded us...

destroying the land/water for our children by using frac drilling is not a solution...


Bush's deficits were $574 Billion at their high....they are 3x that now.....revenue was increasing during the Bush years, but his liberal spending was still a problem.

the wars added $1 trillion to the debt, about the same as the failed stimulus.

Why is Canada doing so well, we've been fracing for years?
 
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hypocritexposer said:
shaumei said:
at this point, we could have all of the oil and gas in the world would not save us...wall street destroyed us during the bush years...

$60 trillion in debt...

s&p downgraded us...

destroying the land/water for our children by using frac drilling is not a solution...


Bush's deficits were $574 Billion at their high....they are 3x that now.....revenue was increasing during the Bush years, but his liberal spending was still a problem.

the wars added $1 trillion to the debt, about the same as the failed stimulus.

Why is Canada doing so well, we've been fracing for years?

Fracking will destroy water supplies...for generations...so, if you feel good about doing that to future generations, get after it...i do not feel good about it...especially when free energy exists...but is stopped by corrupt governments...
 

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shaumei said:
hypocritexposer said:
shaumei said:
at this point, we could have all of the oil and gas in the world would not save us...wall street destroyed us during the bush years...

$60 trillion in debt...

s&p downgraded us...

destroying the land/water for our children by using frac drilling is not a solution...


Bush's deficits were $574 Billion at their high....they are 3x that now.....revenue was increasing during the Bush years, but his liberal spending was still a problem.

the wars added $1 trillion to the debt, about the same as the failed stimulus.

Why is Canada doing so well, we've been fracing for years?

Fracking will destroy water supplies...for generations...so, if you feel good about doing that to future generations, get after it...i do not feel good about it...especially when free energy exists...but is stopped by corrupt governments...


Prove that frac'ing will destroy water supplies. while you are at it prove that what the Alberta oil industry is doing capturing CO2 is doing anything positive for the environment.

Would we be better to spend the tax dollars on something else?


Population growth is always going to provide challenges, when it comes to the environment, but it does not mean we have to fall into the trap of providing falsified data, so as to promote a man made reduction in population.

Do you believe in AGW? Might you be on the cusp of a fabricated scare about frac'ing?
 
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what does agw stand for?

fractional drilling destroys water supplies...

watch this video and you can discuss:

http://vimeo.com/20662676
 

hypocritexposer

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shaumei said:
what does agw stand for?

your whole argument is based on AGW, yet you are ignorant about it's meaning?


:lol: :lol:


Why not educate yourself first, before telling us what is happening
 
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hypocritexposer said:
shaumei said:
what does agw stand for?

your whole argument is based on AGW, yet you are ignorant about it's meaning?


:lol: :lol:


Why not educate yourself first, before telling us what is happening

why not say global warming if that is what you mean? this has nothing to do with that fraud...

watch the video and discuss that info...
 

hypocritexposer

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shaumei said:
hypocritexposer said:
shaumei said:
what does agw stand for?

your whole argument is based on AGW, yet you are ignorant about it's meaning?


:lol: :lol:


Why not educate yourself first, before telling us what is happening

why not say global warming if that is what you mean? this has nothing to do with that fraud...

watch the video and discuss that info...


AGW is not the same as "global warming", why would I define them as the same, when I know better?


I live the video, why would I need to watch it?


What state do you live in? Is there much frac'ing going on? and how is it hurting the people that live there?
 
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hypocritexposer said:
shaumei said:
hypocritexposer said:
your whole argument is based on AGW, yet you are ignorant about it's meaning?


:lol: :lol:


Why not educate yourself first, before telling us what is happening

why not say global warming if that is what you mean? this has nothing to do with that fraud...

watch the video and discuss that info...


AGW is not the same as "global warming", why would I define them as the same, when I know better?


I live the video, why would I need to watch it?


What state do you live in? Is there much frac'ing going on? and how is it hurting the people that live there?

if you do not know how it is hurting the people it means you are clueless about the issues...this is why i suggested you watch the video...i live in an area near the fracking and know what it does...ruins water, air quality while they do it that can cause extreme problems, hurts the cattle and other animals and wildlife...it destroys the environment by the way they do it...it is causing earthquakes in arkansas....on and on...you are clueless if you think it does nothing....
 

hypocritexposer

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shaumei said:
hypocritexposer said:
shaumei said:
why not say global warming if that is what you mean? this has nothing to do with that fraud...

watch the video and discuss that info...


AGW is not the same as "global warming", why would I define them as the same, when I know better?


I live the video, why would I need to watch it?


What state do you live in? Is there much frac'ing going on? and how is it hurting the people that live there?

if you do not know how it is hurting the people it means you are clueless about the issues...this is why i suggested you watch the video...i live in an area near the fracking and know what it does...ruins water, air quality while they do it that can cause extreme problems, hurts the cattle and other animals and wildlife...it destroys the environment by the way they do it...it is causing earthquakes in arkansas....on and on...you are clueless if you think it does nothing....


Why are you assuming that the "drilling" that is being mentioned in the Opening post, entails frac-ing?


Oh, by the way, it was wondered decades ago, how "conventional drilling" would "hurt people"


technology, within a free market economy took care of the worries and provided safe drilling.


Your knowledge and Alex's is lacking on this subject, but thanks for the input........
 

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