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Thread: Oil rises above $90 amid US crude supply drop

  1. #1671
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    Re: Oil rises above $90 amid US crude supply drop

    "Post Carbon Institute"??? maybe your 'peak oil' rhetoric would be better served with a thread in the religion board....lol...

    j-mac
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by j-mac View Post
    "Post Carbon Institute"??? maybe your 'peak oil' rhetoric would be better served with a thread in the religion board....lol...

    j-mac
    A lame attempt at a joke in rebuttal to facts is very poor debating style, but one of your better posts! Congrats!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    A lame attempt at a joke in rebuttal to facts is very poor debating style, but one of your better posts! Congrats!
    So you agree to an extent that your 'peak oil' rhetoric is really more religion than fact...good to see an honest post from you cat. Congrats...


    J-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Oil rises above $90 amid US crude supply drop

    finite resources run out. it's hardly a matter of faith.

    unless, i suppose, you're one of the "abiotic oil" people who imagine that we are floating on an ocean of oil that replenishes itself faster than we can pump it out.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Helix View Post
    finite resources run out. it's hardly a matter of faith.

    unless, i suppose, you're one of the "abiotic oil" people who imagine that we are floating on an ocean of oil that replenishes itself faster than we can pump it out.
    Everything in this world is finite, nothing is infinite in quantity. We are discovering more oil every day, some of these finds are huge. Our country has more oil than any other country in the world. Unfortunately, we also have more regulations on drilling than any other country in the world, estimated we have 8 times as much oil as Saudi Arabia.

    Before It's News

    Definitely not something you'll hear on the mainstream media:

    USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by dontworrybehappy View Post
    Everything in this world is finite, nothing is infinite in quantity. We are discovering more oil every day, some of these finds are huge. Our country has more oil than any other country in the world. Unfortunately, we also have more regulations on drilling than any other country in the world, estimated we have 8 times as much oil as Saudi Arabia.

    Before It's News

    Definitely not something you'll hear on the mainstream media:

    USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)
    an in depth analysis of the Bakken formation :

    The Oil Drum | The Bakken Formation: How Much Will It Help?

    Will Bakken ever produce as much as 4.1 billion barrels (= 3,649+500 million barrels), the amount suggested by the USGS estimate? It seems very unlikely. Production so far has been 111 million barrels. If the industry is able to discover several more prolific areas such as the Elm Coulee field in Montana (43 million barrels, or 38% of the Bakken oil recovered to date), it might be possible to increase this recovery to 500 million barrels, or 4.5 times the current production. Is total production of 500 million barrels likely? It's difficult to say. The USGS estimate is vastly higher than this, so much less likely.

    If 500 million barrels turns out to be the ultimate recovery, the recovery factor would range from 0.13% to 0.25% of estimated oil in place. This very low percentage recovery of the estimated oil in place is not unreasonable if one considers that many of the more marginal areas of the field are likely to be deemed sub-economic and will never be drilled and produced. Technology improvements that will inevitably be made during an era of high energy prices will undoubtedly render some of this more marginal oil recoverable, but the total recovery is still likely to be low.

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    Re: Oil rises above $90 amid US crude supply drop

    Technically recoverable is not cheaply recoverable....last I heard, shale oil recovery is very energy intensive....so I wonder if it will sell for under $90 a barrel?
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by dontworrybehappy View Post
    Everything in this world is finite, nothing is infinite in quantity. We are discovering more oil every day, some of these finds are huge. Our country has more oil than any other country in the world. Unfortunately, we also have more regulations on drilling than any other country in the world, estimated we have 8 times as much oil as Saudi Arabia.

    Before It's News

    Definitely not something you'll hear on the mainstream media:

    USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)
    Peak oil has nothing to do with how much new discoveries there are or how much "technically recoverable oil is out there. Peak oil is when consumption exceeds production. That has been the case in this country since 1971, and the US military says world peak oil is approaching in just a few years.

    Of course, that doesn't mean there will be no oil, it will just become much more expensive. Have you not noticed the price increases over the years???? Well you ain't seen nothing yet as to how expensive it will become. That is why the military issued the warning and are preparing for it.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Isn't it funny how information that plays to one side of the argument is constantly given as fact, and anything disputing it is dismissed. The oil drum is a great example of this.

    So called Peak oil may exist in this nation, but only due to over burdensome regulation that hinders the exploitation of our own resource.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by j-mac View Post
    Isn't it funny how information that plays to one side of the argument is constantly given as fact, and anything disputing it is dismissed. The oil drum is a great example of this.

    So called Peak oil may exist in this nation, but only due to over burdensome regulation that hinders the exploitation of our own resource.

    j-mac
    More personal opinion.

    Only one side has presented facts on peak oil in this forum so far. All the rest have either been personal opinion or not related to peak oil. Do you have some facts you would like to present in rebuttal of peak oil? Well what are you waiting for?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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