Drilling for Oil in the Bakken formation

[sailaway21]

CD, Your logic should mean that you refuse to fill up your car or truck with gas; after all we're just going to run out eventually, so what's the use?

[Cruisingdad]

Originally Posted by retclt

Texas is the Saudi Arabia of coal and natural gas. We have more than anyone else in the world. The same folks who won't let us drill, dig, build nuke plants or refinery's are the same folks fighting against new coal power plants here. I was watching an Oil & Energy hearing on Cspan last week. It was alternating Democrats and Republicans speaking. The Democrats all used the same party line. “We can’t drill our way out of this problem”. Dem after Dem used it. One energy spokesman looked right at the Dems and said “you live by the banana theory, build absolutely nothing now”.

We have it . . . lets go get it! I don’t care to buy “Our” oil from the Cubans and Chinese. I’m all for alternative energy sources. We SHOULD invest in it . . . just not this way . . . while watching our economy fall off a cliff. The ONLY thing I give Jimmy Carter credit for is the tax incentives’ for solar and other alternative energy R&D he put in place in the 70’s. Reagan let them expire . . . the ONLY thing about Reagan I disapproved of. Why can’t we do both? Drill AND research new energy sources.

We have as much or more oil than anyone else in the world. It’s just off limits so it doesn’t get counted!! It’s like money in the bank that I’m not allowed to touch.

. . . . . . . on a little off note . . . . . . . CNN is the only choice we have at the cafeteria upstairs. They ran a story this morning on how Europe is fawning over Obama. I need to puke now.

Saudia Arabia has the largest, followed by Canada. We are not even in the top 10.

Once again, as I have stated a hundred times in this thread, please show me where you get your facts from. Mine come from the gas company web sites, the USGS, US Dept of Interior, and many independent reviews.

We have: Coal. We have food. We do NOT have a large supply of crude oil.

- CD

[Cruisingdad]

Originally Posted by sailaway21

CD, Your logic should mean that you refuse to fill up your car or truck with gas; after all we're just going to run out eventually, so what's the use?

Your logic would have you pour the last gallon of drinking water into the radiator so you could get another 5 miles on a transatlantic crossing. My logic says keep the water to drink and raise your sails.

- CD

[retclt]

I think wind, natural gas, Coal and Nuclear power have a lot to do with oil. Aren't a lot of the houses up North heated by oil? Generate electricity and use the oil for things that can ONLY use oil.

CD, I missed the link you provided for exactly who has how much of what.

[Cruisingdad]

Please provide me with facts.

The facts do NOT support your conclusions.

I have said many times that I started this debate with an open mind. Believe it or not, I still have that open mind and will be happy to admit I am wrong. In fact, I would LOVE to admit I was wrong. The energy issues with this country scare me to death for my kids. However...

I have spent MANY hours researching the information. I have presented my sources and the links to them. I am more than willing to change my point of view if you can provide a solid bed of TRUTH to what you claim.

What are your facts? WHere did you get them? What is the source of funding for them? In essense, WHAT ARE YOU BASING YOUR DECISIONS AND ACCUSATIONS ON!

Keep an open mind in this debate and at least consider the possibility, however unlikely it might seem at this moment, that you have been sold a bill of goods on domestic supply and use of oil/energy in the United States.

- CD

[Cruisingdad]

Originally Posted by retclt

I think wind, natural gas, Coal and Nuclear power have a lot to do with oil. Aren't a lot of the houses up North heated by oil? Generate electricity and use the oil for things that can ONLY use oil.

CD, I missed the link you provided for exactly who has how much of what.

I will get you that info... hold on.

- CD

[retclt]

I'll dig for yours too.

Read this whlie you wait. . . . . . .

Drill now, drill here, pay less - Pittsburgh Tribune-Review

[Cruisingdad]

Here you go, Bob. By the way, I went to the USGS and Dpt of Int site and reaffirmed much of this information. It is just harder to get to (typical). All they did was copy paste.

Greatest Oil Reserves by Country, 2006 — Infoplease.com

You will find this of interest too (almost scary):

Top World Oil Producers, Exporters, Consumers, and Importers, 2006 — Infoplease.com

THen take a look at ANWR:

"A 1998 United States Geological Survey (USGS) study indicated at least 4.3 billion (95% probability) and possibly as much as 11.8 billion (5% probability) barrels (0.9 to 2.5 km³) of technically recoverable oil exists in the Arctic National Wildlife Refuge 1002 area, with a mean value of 7.7 billion barrels (1.7 km³)." (Wikipedia)

Study: ANWR oil would have little impact - Environment - MSNBC.com

- CD

[Cruisingdad]

Originally Posted by retclt

I'll dig for yours too.

Read this whlie you wait. . . . . . .

Drill now, drill here, pay less - Pittsburgh Tribune-Review

THat looked like another diatribe of factless information thrown out to get a reaction to those who have not researched the facts. My opinion.

However, I back tracked throught the Dept. Of Interior and found the link:

Offshore Minerals Management Home Pge

Check it out for yourself. The key phrase (although there are actually two) is:

1) 'MMS estimates of oil and gas resources in undiscovered fields on the OCS (2006, mean estimates) total 86 billion barrels of oil and 420 trillion cubic feet of gas'.

Now, that does not mean there IS that much, that is how much they guess MIGHT be there in UNDISCOVERED fields. UNDISCOVERED. That is like saying there is 50 billion dollars of Spanish gold coins sitting on the bottom of the ocean if we could just find the armadas. Bottom line, this is not based upon what they know is there, it is them guessing what might be there. Contrast that to ANWR or Bakken where they KNOW It is there and have a reasonable, educated guess on how much.

2) The key is not how much oil reserves are there - the key is (and read carefully as most people leave this out) HOW MUCH IS RECOVERABLE. Recoverable!! How much oil reserves are there is really irrelevant if you cannot get it. The recovery rate varies depending on the soil conditions, porosity of the rock, etc. Modern techniques have allowed us to maximize this rate of "absorption" or "recovery". However, we are still very limited to what the soil allows us to pull.

Basically, if you have 100 billion barrels of reserves, but can only pull 1 million out of it due to leeching, how much is the reserve? 100 billion or 1 million? I say 1 million. Now ask yourself who says 100 billion, and why??

[retclt]

I can't wait to dig into these links CD, thanks. I will after a couple of meetings (work) over the next couple of hours.

Back to my simple mind . . . I work with engineers who would like to hash out data 'til the cows come home. I work with others who jump in and get the job done. We need to $#!% or get off the pot. Drill drill drill!!! The Cubans and Chinese don't seem to have a problem with drilling our oil off Florida.