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Thread: Exxon finds 700 million barrels in the GOM

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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
    What the hell is your problem? I hope that you aren't driving a car or using any of our oil, given your oil hatred.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by obvious Child View Post
    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.



    I tend to take 2 week breaks from time to time to reduce my exposure to the idiocy here.


    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.



    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.
    No one is twisting your arm.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by American View Post
    What the hell is your problem? I hope that you aren't driving a car or using any of our oil, given your oil hatred.
    Oil hatred?

    I love oil, I have worked at a refinery found it fun, live in a province that produces the majority of oil in Canada, been at the oil sands sites around Fort Mac.

    What I am is realistic.

    Oil is a finite commodity in realistic terms. It is getting harder to find and more expensive to extract and refine as we use up more of it. Dozens of small fields are helpfull but they are not going to replace fields like Cantarell or Ghawar as they are depleted. The Super Giant fields helped make oil generally quite cheap to extract, produce and to use. Oil sands are not cheap to extract produce and use in comparison. The US without some technological breakthrough is not going to become energy independant. Dozens of small finds like the one in the OP will help but will not produce enough oil to make the US energy independant.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by American View Post
    What the hell is your problem? I hope that you aren't driving a car or using any of our oil, given your oil hatred.
    I should really start keeping a record of all the conservative absolutism around here.

    They guy pointed out that this isn't actually a lot of oil compared to our current consumption, and you somehow translated that to "I HATE OIL NOBODY SHOULD USE ANY EVER"
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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 obvious Child View Post
    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.
    What blows my mind are the idiots that don't understand how speculation works.

    BTW, have gas prices been going down? Recent oil discoveries in the GOM and less demand might have something to do with that.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by obvious Child View Post
    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.
    The U.S. has some of the largest natural gas reserves in the world.

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    Re: Exxon finds 700 million barrels in the GOM

    If you really hate giving US dollars to those who hate America you would be for drilling in USA as we make the transition from oil to whatever combination of things we will eventually replace oil with.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by sawyerloggingon View Post
    If you really hate giving US dollars to those who hate America you would be for drilling in USA as we make the transition from oil to whatever combination of things we will eventually replace oil with.
    Or putting the money into alternative R&D.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by xpiher View Post
    Or putting the money into alternative R&D.
    What are you waiting for?

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    What are you waiting for?
    Having enough money to actually invest.
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