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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 xpiher View Post
    Having enough money to actually invest.
    Well, if O'Bama gets his way, you'll be waiting for a long time.

    I would love to invest in a natural gas filling station, but O'Bama destroyed my cash flow.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by American View Post
    No one is twisting your arm.
    Congratulations for once again failing to understand the basic mechanics of the market.
    "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 apdst View Post
    What blows my mind are the idiots that don't understand how speculation works.
    I understand more about finance then you will ever learn in your entire life. And if we strip out even the the most wildly optimistic estimates on oil, it still leaves oil at prices well capable of sustaining America's enemies.

    BTW, have gas prices been going down? Recent oil discoveries in the GOM and less demand might have something to do with that.
    Only if you have no idea how the market works. Which you would fall under.

    The U.S. has some of the largest natural gas reserves in the world.
    And that addresses what you quoted how? Or are you just wanting more fail-pie?
    "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 Lord Tammerlain View Post
    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.
    No, you're for stifling any attempt to drill and process oil for the US. You want us dependent on foreign sources. There is no other way to look at it. If it was 300B you be trotting out the "Oh it'll take ten years.....blah blah blah". You people are all the same. I don't give a **** if it's a finite commodity.

    It may not make us fully independent, but it will make us more independent. And that is fine with me. There's always a reason with you why we shouldn't drill refine, produce or whatever.
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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.
    Why not both? Drill baby drill and R&D. Why is it either or with you guys?

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by American View Post
    No, you're for stifling any attempt to drill and process oil for the US. You want us dependent on foreign sources. There is no other way to look at it. If it was 300B you be trotting out the "Oh it'll take ten years.....blah blah blah". You people are all the same. I don't give a **** if it's a finite commodity.

    It may not make us fully independent, but it will make us more independent. And that is fine with me. There's always a reason with you why we shouldn't drill refine, produce or whatever.
    Where did I say the US should not drill and extract the 700 million


    That is right I didnt, what I said is that 700 million is not a lot of oil, it is a minor field and will have minor effects on the oil market. I am all for the drilling in ND in the Bakken oil formation, in the gulf as well after procedures are tightened up to help prevent futher incidents like the large oil spill last year.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by apdst View Post
    BTW, have gas prices been going down? Recent oil discoveries in the GOM and less demand might have something to do with that.
    The recent oil discoveries would not have such a quick effect on gas prices. Refineries are actually processing less crude due to lowered demand, so having more crude available to not be processed won't effect prices immediately.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by sawyerloggingon View Post
    Why not both? Drill baby drill and R&D. Why is it either or with you guys?
    Because drill baby drill typically ****s with precious water supplies (natural gas) or would lead to the destruction of America's natural beauty. Even if you don't care about the beauty of the US, you should be concered with the destruction of water and other industries. I'm all for drilling safely and responsibly in the interim, I just it would only have a negligible, if any, affect on prices at the pump.
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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by Tucker Case View Post
    The recent oil discoveries would not have such a quick effect on gas prices. Refineries are actually processing less crude due to lowered demand, so having more crude available to not be processed won't effect prices immediately.
    They'll effect gas prices quicker than no new discoveries at all. Either way, these new discoveries will certainly create more jobs than the government has done.

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    Re: Exxon finds 700 million barrels in the GOM

    Quote Originally Posted by obvious Child View Post
    I understand more about finance then you will ever learn in your entire life. And if we strip out even the the most wildly optimistic estimates on oil, it still leaves oil at prices well capable of sustaining America's enemies.



    Only if you have no idea how the market works. Which you would fall under.



    And that addresses what you quoted how? Or are you just wanting more fail-pie?
    You're a high school student that reads alot of accounting text books. What could yu possibly know about running a business?

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