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Thread: Exxon finds 700 million barrels in the GOM

  1. #51
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    Why aren't you sinking all your spare cash into green companies?
    Why, do you need investment advice?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    So much for the peak oil myth.
    For someone who works in the field, it's kind of appalling you don't even know how little that is in comparison to world consumption.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by megaprogman View Post
    The oil market is a global market.
    It's amazing just how few people understand this. Like the idiots who think more domestic drilling will bring down prices. A simple projection of BRIC oil demand next to the most optimistic supply models shows oil prices have only one place to go.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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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.
    Not quite. Thermo depolymerization could produce oil as long as there is organic input and energy to power the TDP plan.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Tucker Case View Post
    At what point did the planet start producing oil at a rate even remotely close to the rate at which we deplete its reseviors?
    Quiet you. Apdst is at the bottom of the barrel. Literally and figuratively. Everyone knows he's lost this thread from the first page.

    Honestly, the only point in using oil now is to buy time in the search to replace it. Oil in itself is a crutch. The problem with more oil finds is that it prolongs the time making it less time sensitive to get off oil. And this keeps the largest oil consumer in the world driving up prices keeping regimes in Tehran and Caracas in power. The faster we get off oil, the faster our enemies perish. We need to start viewing the end of oil as the end of our enemies. This is without a doubt a security issue and should be treated as such. I would love to see Chavez and the Mullahs fall. But that will require knocking oil prices out from under them to say somewhere in the $10 to $30 range. That won't happen with the US consumption where it is now. The longer US demand stays in oil the longer powers that wish our downfall stay in power.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by obvious Child View Post
    Not quite. Thermo depolymerization could produce oil as long as there is organic input and energy to power the TDP plan.
    Dunno what that means, but I bet you understand the disinclination to bet the farm on it saving our species from going ape**** over oil decline. In any event, I'm glad someone with a clue or two joined the discussion. Cuz holy mary mother of god I have read enough bafflingly unhinged comments in this thread already.

    I've heard something about an averaged length of time the Earth took to produce the current amount of oil we could even hypothetically access right now, with that being in the ballpark of 150 million years. And beyond that, I think of hydrocarbon energy as originating with solar. In other words, I think of the current total amount of oil the world contains as condensed solar energy that took 150 million years to accumulate but will without any doubt take us less than 300 years total (i.e. starting in the mid 19th century) to consume. A simple division (150m/300) suggests humans use oil five hundred thousand times faster than the rate at which the Earth captures solar energy and turns it into oil.
    Last edited by Neomalthusian; 06-16-11 at 05:34 AM.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Lord Tammerlain View Post
    Wow 700 million barrels

    Boy the US can stop importing oil now for 70 days

    Energy independance here the US comes

    700 million barrels is what most consider a small field

    Ghawar is Saudi Arabia was estimated to have 120 billion
    Yea the problem with this argument is that we have had many reports of small finds before and if they are tapped while being added together, that can make a big impact.

    If that were the only source of oil on earth, you guys would have a great point, but it isn't.
    Last edited by Harry Guerrilla; 06-16-11 at 05:24 AM.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Harry Guerrilla View Post
    Yea the problem with this argument is that we have had many reports of small finds before and if they are tapped while being added together, that can make a big impact.

    If that were the only source of oil on earth, you guys would have a great point, but it isn't.
    This post, as well as sawyer in post #31, can refer to the quotes in post #9 and, if you disagree with the folks quoted there, cite some information of some kind that suggests a different outlook. Otherwise I will assume these notions, that we're doing fine in terms of global oil production relative to demand, are pretty much made up on the spot. That's indeed how they appear, so far at least. And that certainly goes for apdst too. Just sorta wingin' it with this whole "Peak Oil is a myth" thing, with no investigation to back it. Just assuming we'll figger it out somehow.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Neomalthusian View Post
    Dunno what that means
    Basically it uses heat and pressure to break material down into their base atoms and rearrange certain ones into hydrocarbons. Aka, Turkey waste into petroleum.

    but I bet you understand the disinclination to bet the farm on it saving our species from going ape**** over oil decline. In any event, I'm glad someone with a clue or two joined the discussion. Cuz holy mary mother of god I have read enough bafflingly unhinged comments in this thread already.
    I tend to take 2 week breaks from time to time to reduce my exposure to the idiocy here.

    I've heard something about an averaged length of time the Earth took to produce the current amount of oil we could even hypothetically access right now, with that being in the ballpark of 150 million years.
    Something like that. Millions of years to turn diatoms into hydrocarbons. Furthermore, oil doesn't get formed everywhere. Dependent on the conditions, organic material may turn into coal or gas.

    And beyond that, I think of hydrocarbon energy as originating with solar. In other words, I think of the current total amount of oil the world contains as condensed solar energy that took 150 million years to accumulate but will without any doubt take us less than 300 years total (i.e. starting in the mid 19th century) to consume. A simple division (150m/300) suggests humans use oil five hundred thousand times faster than the rate at which the Earth captures solar energy and turns it into oil.
    Which means we better find a replacement. Our oil problem is more of a liquid fuel rather then anything else. Many of petroleum's byproducts we can replace with organic substitutes like corn plastics. Not as cheap and not as good but there are substitutes. A billion dollars into an award for efficiency battery that stores power over long periods of time with large amounts of storage would do wonders.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Neomalthusian View Post
    This post, as well as sawyer in post #31, can refer to the quotes in post #9 and, if you disagree with the folks quoted there, cite some information of some kind that suggests a different outlook. Otherwise I will assume these notions, that we're doing fine in terms of global oil production relative to demand, are pretty much made up on the spot. That's indeed how they appear, so far at least. And that certainly goes for apdst too. Just sorta wingin' it with this whole "Peak Oil is a myth" thing, with no investigation to back it. Just assuming we'll figger it out somehow.
    I recognize that newer finds are becoming commonly smaller.
    With that said, people seem to be determined not to use what oil is available or to write it off as inconsequential.

    Until another source of energy is established for modern transportation, we should exploit all sources of oil.

    We're in the process of figuring something out, it takes time though and wishing that it didn't won't change that.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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