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Thread: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by apdst View Post
    Neither source names a single specific subsidy. Why is that, you think?
    Ask them.


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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by PirateMk1 View Post
    What subsidies are you talking about? The government provides NO money for exploration or anything else. And oh by the way the oil companies pay royalties permit fees and a whole host of other taxes and fees other industries DONT pay.
    You don't agree...take it up with them.

    I don't care whether you think they get subsidies or not.



    Good day.
    Last edited by DA60; 05-24-14 at 01:39 PM.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by DA60 View Post
    'May 21 (Reuters) - The U.S. Energy Information Administration (EIA) on Wednesday cut its estimate of recoverable oil in California's Monterey shale by 96 percent, casting doubt on what was once thought to be America's next major energy play.

    In what could be welcome news for environmentalists and a potentially bad omen for oil drillers, such as Venoco Inc, with large leases in the region, the EIA slashed its forecast of technically recoverable reserves, citing production difficulties from initial wells.

    The reserves were downgraded by 96 percent, from 13.7 billion barrels estimated by a government-funded report in 2011, to just 600 million barrels, the EIA said. A detailed report is expected to be released next month.'

    UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct | Reuters
    Does it really matter what the government believes? If private companies do the drilling and extraction, then we will soon know whether the reserves are viable or not.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by PirateMk1 View Post
    There isn't one. They are calling tax code a subsidy. Which its not.
    They STILL think, even after years a debunking, that oil companies somehow get tax deductions that no other business qualifies for.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by DA60 View Post
    You don't agree...take it up with them.

    I don't care whether you think they get subsidies or not.


    Good day.
    Ask who??
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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by apdst View Post
    They STILL think, even after years a debunking, that oil companies somehow get tax deductions that no other business qualifies for.
    What other business gets an "oil depletion allowance"?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by Gimmesometruth View Post
    What part of stock purchases/investment did you not understand?

    That is assuming all stock bought is sold and that the corp did not profit from the investment monies......but that still is not the point.....your point was that it is not in the oil corps interest to pump up possible findings....but it is...it attracts investment.

    Patently false.
    Dry holes don't generate profit; not even in the Liberal fantasy land.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by ttwtt78640 View Post
    What other business gets an "oil depletion allowance"?
    What do you want to make a bet that every other mineral extraction company gets a similar benefit in the tax code. By the way that's a fancy term for depreciation and an oil well is a depreciable asset. As is a mine or other limited life span asset.
    Semper Fidelis, Semper Liber.
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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by apdst View Post
    Dry holes don't generate profit; not even in the Liberal fantasy land.
    You keep moving your goal post:

    Quote Originally Posted by apdst View Post

    The oil companies have zero to gain by pressuring the EIA to over-estimate the size of the reserve.
    Again, patently false, speculative investment is spurred by such announcements.

    Not that I would ever imagine you to acknowledge your error.....but you are totally incorrect.
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    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
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    When it comes down to it, all facts are cherry picked.
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    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: UPDATE 2-U.S. EIA cuts recoverable Monterey shale oil estimate by 96 pct

    Quote Originally Posted by ttwtt78640 View Post
    What other business gets an "oil depletion allowance"?
    Every business in America is allowed to depreciate loss in capital. Farmers are allowed to count their crops as capital and can deduct a reduction in market prices. Grocery stores do it all the time.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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