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Thread: Exxon finds 700 million barrels in the GOM

  1. #31
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Neomalthusian View Post
    Until it doesn't. Oil is finite ya know.

    "Technology is great, but it can't find what's not there. In the last five years, we consumed 27 billion barrels of oil a year, but the oil industry discovered only three billion barrels a year. So only one barrel was replaced for every nine we used.". - L.B. Magoon Report for US Geological Survey



    You have GOT to be kidding.



    Oh, good, you were kidding.



    What alternative energy replaces petrochemical fertilizers, pesticides, herbicides and fungicides that artificially boosts crop yields on which our massive population now depends? (hint, plugging electric currents into the ground does not work)



    You really don't get it. Without oil-based conventional agriculture, billions of people have to starve. We literally have been turning the energy contained in oil into the food that we eat. When oil supply diminishes, even gradually over time, both food and the oil we use to make it and ship it become prohibitively expensive, which necessarily causes a food crisis. This isn't like Y2K or global warming. It's guaranteed, concrete arithmetic. Cause and effect.

    If you want to just automatically write it all off as alarmism and sit comfortably in denial, be my guest. But if you want to actually read any of the literature (there's simply tons) that will illuminate this a bit more for you, let me know, and I'll point you to some.
    Yes I will write it off as alarmism. The tone of your response is alarmist and full of panic. We are nowhere near running out of oil and are finding more all the time. What you couldn’t seem to grasp from my first post was that as we get more efficient at using oil and more efficient at finding it, the point when there is no more oil to find gets farther away not closer and as other forms of energy come on line and we use less oil we may indeed never run out. It may become obsolete before it’s gone completely, that’s what I mean by we may never run out. When I was just a kid one of the original old surfers taught me to surf and taught me a lesson I have lived by ever since. He said “Panic will kill you. Remember, the human body wants to float, when a big wave rolls you around and bounces you off the bottom just relax, don’t thrash around, the calmer you are the longer you can hold your breath, you will come up.” There’s a lesson here that goes far beyond being held under water in big surf, think about it. That’s precisely what so many of you are doing, thrashing around like a man in panic drowning in 4 feet of water, it happens.

  2. #32
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Neomalthusian View Post
    Until it doesn't. Oil is finite ya know.

    "Technology is great, but it can't find what's not there. In the last five years, we consumed 27 billion barrels of oil a year, but the oil industry discovered only three billion barrels a year. So only one barrel was replaced for every nine we used.". - L.B. Magoon Report for US Geological Survey



    You have GOT to be kidding.



    Oh, good, you were kidding.



    What alternative energy replaces petrochemical fertilizers, pesticides, herbicides and fungicides that artificially boosts crop yields on which our massive population now depends? (hint, plugging electric currents into the ground does not work)



    You really don't get it. Without oil-based conventional agriculture, billions of people have to starve. We literally have been turning the energy contained in oil into the food that we eat. When oil supply diminishes, even gradually over time, both food and the oil we use to make it and ship it become prohibitively expensive, which necessarily causes a food crisis. This isn't like Y2K or global warming. It's guaranteed, concrete arithmetic. Cause and effect.

    If you want to just automatically write it all off as alarmism and sit comfortably in denial, be my guest. But if you want to actually read any of the literature (there's simply tons) that will illuminate this a bit more for you, let me know, and I'll point you to some.
    The planet is going to just stop producing oil? I doubt that's going to happen.

  3. #33
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    So, we're going to use this find to supply the world with oil? Or, just use it ourselves and put Americans back to work?
    Generally, the company who has the rights to the oil sells it on the world market. There's not really an "our oil" or a "their oil." It's all more or less fungible.

    More good news is that as the price of oil goes up, the amount oil that it's financially feasible to retrieve will keep going up. Yay high oil prices!
    I may be wrong.

  4. #34
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    The planet is going to just stop producing oil? I doubt that's going to happen.
    What do you suppose the timeline on making oil is?
    I may be wrong.

  5. #35
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Simon W. Moon View Post
    Generally, the company who has the rights to the oil sells it on the world market. There's not really an "our oil" or a "their oil." It's all more or less fungible.

    More good news is that as the price of oil goes up, the amount oil that it's financially feasible to retrieve will keep going up. Yay high oil prices!
    well, this is where commons sense comes into play. It's most cost effective to take oil from the GOM and refine it in...America!

    Have you noticed the pipelines that are running out of the GOM? Well, maybe you haven't, since you're not from here.

  6. #36
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Simon W. Moon View Post
    What do you suppose the timeline on making oil is?
    A long ass time. Do you think the planet stopped producing oil, though? new pools are maturing all the time.

  7. #37
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    well, this is where commons sense comes into play. It's most cost effective to take oil from the GOM and refine it in...America!
    Have you noticed the pipelines that are running out of the GOM? Well, maybe you haven't, since you're not from here.
    Point being that for many practical intents and purposes, oil is dumped into the same big-ass bucket. Sure the actual molecules of oil are moved as little as possible to help increase profits, but the system is such that there's no real difference to the market. Once the oil is out of the ground it is supplying the world with oil.
    I may be wrong.

  8. #38
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    A long ass time. Do you think the planet stopped producing oil, though? new pools are maturing all the time.
    How often?
    I may be wrong.

  9. #39
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Simon W. Moon View Post
    Generally, the company who has the rights to the oil sells it on the world market. There's not really an "our oil" or a "their oil." It's all more or less fungible.

    More good news is that as the price of oil goes up, the amount oil that it's financially feasible to retrieve will keep going up. Yay high oil prices!
    US domestically produced oil is generally restricted from entering the world market (Canada being an exception)

    It is currently a rather meaningless law though given the how much oil the US imports
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Simon W. Moon View Post
    How often?
    Just recently, as I pointed out.

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