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Exxon finds 700 million barrels in the GOM

apdst

apdst

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So much for the peak oil myth.

Exxon Mobil Corp. (XOM) announced it found the equivalent of 700 million barrels of oil beneath the Gulf of Mexico, the biggest discovery in the region in 12 years.
The estimated size of the Hadrian field may increase as drilling continues, Exxon said in a statement today. The discovery is about 250 miles (400 kilometers) southwest of New Orleans in 7,000 feet of water, Irving, Texas-based Exxon said.

Exxon Finds Biggest Oil Field in Gulf of Mexico Since 1999 - Bloomberg
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apdst said:
So much for the peak oil myth.
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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
 
World oil consumption is about 80 million barrels per day. So we gain a little over a week.
 
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Boooyyaaah a week of oil! Yayyyyyyy!:thumbs:
 
apdst said:
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?

I forgot to post the link to another new find by Noble Energy. My apologies.

Noble Energy reports Gulf oil find - San Antonio Express-News
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You cannot be for free tade and protectist policies. Either way, peak oil is going to happen eventually, and liberal estimates we'll hit it up 2050, conservative estimate put it at 2025. Peak oil means demand is going to out pace the supply we can create, it means sky rocketing prices if we don't transfer to something else.
 
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xpiher said:
You cannot be for free tade and protectist policies. Either way, peak oil is going to happen eventually, and liberal estimates we'll hit it up 2050, conservative estimate put it at 2025. Peak oil means demand is going to out pace the supply we can create, it means sky rocketing prices if we don't transfer to something else.
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How much money have you invested into green energy projects?
 
apdst said:
How much money have you invested into green energy projects?
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I wish I had the money to invest period. In about 9months I plan on starting my retirement savings with appox 60% dedicated to green
 
"It is definitely depressing, more than depressing, I would say alarming, which is what we try to do, to alarm the governments. In many OECD countries....oil consumption came to a peak and it is slowing down, but the growth of the demand is coming from China, the Middle East, India. So demand will grow. The question is, whether or not we will be able to increase the production to meet that demand growth. According to our projections in the World Energy Outlook, even if we were to assume, and this is very important, even if we were to assume the next 20 years global oil demand growth was flat, no growth at all, in order to compensate the decline in the existing fields we have to increase the production about 45m bpd just to stay where we are in 20 years, which means to find and develop 4 new Saudi Arabias, and this is a major challenge." -Fatih Birol, Chief Economist of the International Energy Agency, September 2010 interviewed on BBC One Planet
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“Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand.” -Jeroen van de Veer – CEO of Shell, 22nd January 2008
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"If you think that at the moment the world is consuming 30-plus billion barrels a year of oil and is finding seven or eight billion barrels a year, and this state of affairs has been going on now for 20 or more years. "It's obviously unsustainable and the world is increasingly drawing on the bigger, older fields. You couple that notion with the irreversibility of decline and you've got a very alarming picture." -James W. Buckee -Retired President and CEO of Talisman Energy Inc., 29th January 2008.
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“In the longer run, unless we take serious steps to prepare for the day that we can no longer increase production of conventional oil, we are faced with the possibility of a major economic shock—and the political unrest that would ensue.” -Dr. James Schlesinger - former US Energy Secretary, 16th November 2005
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"In my humble opinion, we should now have reached peak oil. So it is high time to close this critical chapter in the history of international oil industry and bid the mighty peak farewell." - Ali Samsam Bakhtiari, Vice President of the National Iranian Oil Company
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"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." - Magoon Report for U.S. Geological Survey
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"The current relatively low oil prices give a respite to prepare for the coming new oil crisis. We have to reduce our dependency in all those areas in which black gold is not indispensable... And in all sectors, we have to accelerate our efficiency being aware that every barrel of oil that we are using is one of the last." -Andris Piebalgs, EU Energy Commissioner, May 2009
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Oil-producing-countries-past-peak-Oct-2007.png
 
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I suppose it only makes sense to have Brazil or China drill for and have it. It would be bad for the environment if the USA did. Then the USA can instead buy the Gulf oil on the world market.
 
apdst said:
All these cats said this stuff before these latest finds. Yes?
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What you don't understand is that these latest finds have no bearing on increasing demand and the fact the oil is getting more and more expensive to even get out of the ground.
 
xpiher said:
What you don't understand is that these latest finds have no bearing on increasing demand and the fact the oil is getting more and more expensive to even get out of the ground.
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How much of your own money are you investing in green energy projects?
 
apdst said:
How much of your own money are you investing in green energy projects?
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What the hell does that have to do with anything? The argument about peak oil is only substantiated by one's asset allocation in alternative energies? Pfft.

Green investments are still tied to the dollar and we are waging war on it. Alternative energies won't replace oil. You can't fertilize, weed and de-bug your crops with electrical currents. Petroleum will hit food production hard and that's when things will get weird. Commercial aviation goes away completely. Food economies are forced to relocalize where they can, and where they can't people will get really desperate.

Within a year I expect to be investing as much of my money as I can in a parcel of rural farm land and a super-insulated structure utilizing solar radiant floor heating. My wife's cousin is an architect and certified solar panel guru who specializes in those types of structures.
 
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apdst said:
So much for the peak oil myth.
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I say we throw the environmentalists out on their keister, and drill in Alaska, and anywhere else we can find oil. Enough of the BS!
 
Tucker Case said:
How much of your livelihood is invested in oil?
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Oh, probably about 100%, when you figure that my non-oilfield related businesses serve people who work in the oilfield.

Is this the part where you call me a shill?
 
apdst said:
Oh, probably about 100%, when you figure that my non-oilfield related businesses serve people who work in the oilfield.

Is this the part where you call me a shill?
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No, that's the part where I point out that your perfectly understandable pro-oil personal bias makes it impossible for you to objectively argue this topic.

You have a vested personal interest in oil and that's perfectly understandable (I would too, in your position) but this certainly clouds your arguments.
 
Tucker Case said:
No, that's the part where I point out that your perfectly understandable pro-oil personal bias makes it impossible for you to objectively argue this topic.

You have a vested personal interest in oil and that's perfectly understandable (I would too, in your position) but this certainly clouds your arguments.
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I would make the same argument, either way. it's just common sense.

By the same token, anyone who doesn't have anything vested in the oilfield can't argue the topic objectively, either; against oil and gas production.

The reason I ask the anti-oilers if they are investing any money into green energy, is because if it's such an awesome idea, they should be dumping every spare dime they have into green energy companies and recruiting more investors, so the industry can grow.
 
Well excellent, now that we've found an estimated 35 days worth of oil based roughly on current daily US consumption, we need not worry anymore about importing oil or peak oil... for 35 days at least.
 
The United States uses about 7 Billion barrels of oil per year so this won't last very long at all.

We need to open every possible field offshore or on ASAP
 
Lord Tammerlain said:
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
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I spewed my coffee
 
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