Oil Drilling

[SilverSliver]

Here is an interesting if old article http://money.cnn.com/2006/05/09/news/economy/oil_cuba/index.htm
My question is this, so china is or has (not sure where there at) for oil off of cuba, yet the environmentalist are stopping us. Here is a clip

"an Interior Department study that said the U.S. continental shelf contained 115 billion barrels of oil and 633 trillion cubic feet of natural gas. That would be enough oil to satisfy U.S. demand, at current consumption levels, for 16 years and enough natural gas for 25 years"


I say with $4 gas, start drilling!

What do you all think, I haven't looked up the environmental considerations, but they can't be that bad.

 

[My Name is Nobody]

Here is an interesting if old article http://money.cnn.com/2006/05/09/news/economy/oil_cuba/index.htm
My question is this, so china is or has (not sure where there at) for oil off of cuba, yet the environmentalist are stopping us. Here is a clip

"an Interior Department study that said the U.S. continental shelf contained 115 billion barrels of oil and 633 trillion cubic feet of natural gas. That would be enough oil to satisfy U.S. demand, at current consumption levels, for 16 years and enough natural gas for 25 years"


I say with $4 gas, start drilling!

What do you all think, I haven't looked up the environmental considerations, but they can't be that bad.

I don't think we'll be drilling our way out of 4 dollar gas. It's here to stay and will probably just get worse. The gas tax proposal from McCain is a joke.

 

[SilverSliver]

Thats true, a lot of the reason gas is as high as it is right now, is because a lot of countries subsidize it. I do think that it will go down after a while, society is giving the oil companies and speculators enough rope. All this whole thing does is fuel the search for alternatives.

 

[gösta berling]

If you want to understand "peak oil", read this:
http://caseyresearch.com/pdfs/20080529_PeakOilsubX.pdf

 

[gösta berling]

Excerpt:


“If we were lucky enough to open up the entire outer continental shelf and then we were lucky
enough to invent quickly enough seismic equipment to start doing some sort of a high-grading
of where we should drill, and then we were lucky enough to have a growing fleet of newer
offshore rigs that could drill wells and we discovered two new North Seas, then there’s grounds
that we could basically spend four or five hundred billion dollars and maybe end up – ten
years from now – with six million barrels a day of fresh supply.
“But the problem is that each one of those things that I said, ‘If we were lucky enough,’ we
don’t have. And to create each one of those is going to take ten to fifteen years to do. And ten to
fifteen years from now, our 73 million barrels a day* of current crude production could easily
be down to 50 or 45. So you say even if you had another 6 million barrels per day, you can’t
climb back out of the hole.”

 

[reset]

Bush wanted driling in Alaska, it was shot down by democrats. He tried.