Drill here, drill now, drill often

[sgreger1]

These words may have been heard by some of us from our republican friends. Why buy oil from our enemies? Drill here, drill now and drill often they would chant.


How does Obama respond? By listening to the people and doing just that, opening up US offshore areas to drilling. Hats off to you Mr Obama.

Will republicans spin this to somehow be a bad thing? Most likely.

The U.S. Geological Survey estimates the U.S. Atlantic coast waters may hold 37 trillion cubic feet of gas and nearly 4 billion barrels of oil, while the Pacific Coast has 10.5 billion barrels of oil and 18 trillion cubic feet of gas.

To put that in context, the United States imports about 2 billion barrels of oil a year from OPEC nations and is expected to import 2.7 trillion cubic feet of natural gas from all sources this year, according to the Energy Department.

http://www.reuters.com/article/idUSTRE62T06520100330


Do you think we should drill on American property, such as the CA coast? Or is it too big of an environmental threat?

Thoughts?

[texasmade]

california would find shit to tax and raise a bitch fit about minnows :roll:

[sgreger1]

Lol, yah I am positive that every single oil reserve in the US is home to some endangered species of algae or something. I hate california.

[justintempler]

Re: Drill here, drill now, drill often

Do you think we should drill on American property, such as the CA coast? Or is it too big of an environmental threat?

Thoughts?

Of course we should be drilling at home.

But do you have any idea at all what those numbers actually mean?

USGS numbers are Undiscovered "Technically Recoverable" Resources

I'll give you an example.
Atlantic OCS
1.12 Billion Barrels of Oil - 95% chance - They call this F95
7.57 Billion Barrels of Oil - 05% chance - They call this F5

That 4 Billion number is actually rounded off from 3.82
3.82 is the combined average between 1.12 (95% chance) + 7.57 (5% chance)

Here is a link to the USGS report:
http://www.usowc.org/pdfs/ExecutiveSummaryMMS.pdf

[sgreger1]

You have a good point justin, while we do have resources here which we should be exploiting, our supply is very limited. More reason to find alternative energy sources.

Either way I think anything is better than buying from the Saudi's.

[Owens187]

california would find shit to tax and raise a bitch fit about minnows :roll:

THIS.

[justintempler]

Either way I think anything is better than buying from the Saudi's.

Problem is those numbers are almost meaningless. They are the USGS's best guess at what is possible You still have to go find it and hope that it's there somewhere.

You've got another big problem. The shortage of drillings rigs. Having a lease to explore for undiscovered oil don't do you any good unless you have a drill rig.

This article is almost 2 years old but things haven't changed much.

http://www.nytimes.com/2008/06/19/bu...drillship.html

But even as oil trades at more than $135 a barrel — up from $68 a year ago — the world’s existing drill-ships are booked solid for the next five years. Some oil companies have been forced to postpone exploration while waiting for a drilling rig, executives and analysts said.

Demand is so high that shipbuilders, the biggest of whom are in Asia, have raised prices since last year by as much as $100 million a vessel to about half a billion dollars.

“The crunch on rigs is everywhere,” said Alberto Guimaraes, a senior executive at Petrobras, the Brazilian oil company that has discovered some of the most promising offshore oil but has been unable to get at it.

“Almost 100 percent of the oil companies are constrained in their investment program because there is no rig available,” he said.

[justintempler]

http://www.jeffrubinssmallerworld.co...ll-baby-drill/

Drill, Baby, Drill
Posted by Jeff Rubin on April 7th, 2010

Maybe it’s a gesture to the American right, which is still seething over the recent passage of Barack Obama’s national heath care package in Congress. Or maybe it’s just soma for increasingly anxious American motorists, so they can sleep at night without wondering how long their petroleum-based lifestyles can possibly last.

But either way, President Obama’s sudden reversal on banning new oil and gas drilling in previously protected US waters is nothing more than a public relations exercise that will still leave Americans facing the daunting reality that they must learn to consume less, not more, of the one substance they have grown so overwhelmingly dependent on.

There are no Spindletops waiting to be found anymore, neither in the mid-Atlantic nor in the Gulf of Mexico. There aren’t even Prudhoe Bays or North Seas—just ridiculously expensive stuff found miles below the ocean’s floor, like the recently discovered Tiber field. By the time any oil flows from these newly opened offshore areas, the American economy will have abandoned oil as a transport fuel—a change that will be dictated by a series of oil-induced recessions like the one we’ve just exited.

But that won’t stop America from drilling. Probably nothing much will; certainly not the oil industry’s recent track record. It was only a few years ago that the “drill, baby, drill” movement viewed the Gulf of Mexico as the promised land of oil self-sufficiency. Back in 2004, the same Department of the Interior that now claims they’ve opened up billions of barrels of oil for industry development was confidently forecasting that US oil production from offshore fields in the Gulf of Mexico would quadruple by 2020 to as much as four million barrels per day.

The energy bureaucrats in Washington, along with the oil industry, ridiculed suggestions that America was running out of oil, pointing to the vast treasure chest of oil reserves that lay trapped under the seabed of the Gulf of Mexico. New deep-water platforms, like BP’s Thunderhorse, adorned the cover of BusinessWeek, heralding a new age of advanced deep-water drilling technology, which would tap previously unrecoverable or even unknown oil resources.

But despite all the billions spent on offshore development then, US oil production in the Gulf of Mexico has not grown in the half-decade since Hurricane Katrina left her mark. In fact, production in the region has only recently climbed back to its pre-Katrina mark of roughly 1.6 million barrels per day.

And that was with the benefit of a below-normal hurricane season last year. Throw in another bad storm season, along with the rapid-fire depletion rates that normally dog offshore fields, and oil production in the Gulf of Mexico will soon be heading backwards again.

So baby, you can drill all you want, but what you’ll find won’t keep you on the road.

[sgreger1]

After your last post Justin I researched it and you are completely correct. There is no use in opening it up for drilling. I think it was just a peace token to the right and nothing else, it will not affect anything and will likely never actually get us any oil.

[sheilalynn]

This was actually the first thing of Obama's that I agreed with. We have to get away from getting most of our oil from those towel heads and stick with good ole' American products, even oil. :wink:

[Roo]

You seem to be a fan of ethnic slurs, Sheila. I know my bald ass would wear a "towel" if I lived in a 115 degree desert, and my back would probably be wet if I picked fruit in the Mexican sun. Actually I already do fashion a turban out of a T-shirt if I'm caught in excessive sun without a hat. My scalp depends on it.

[sgreger1]

Actually I already do fashion a turban out of a T-shirt if I'm caught in excessive sun without a hat. My scalp depends on it.

Pics or it didn't happen

[Roo]

I could arrange that. People do look at me like I'm some kind of John Walker Lindh-type maniac, but screw 'em, it's a great way to stay cool, protect your brain, and prevent sunburn. Don't get me wrong, I don't walk around town like that, but when I was hiking in Hawaii and such, you bet you're ass. I think this summer I'm gonna go to the Army Navy Surplus and buy one of their straight up Iraqi keffiyeh head wraps. Then I'll be legit.

[sgreger1]

I could arrange that. People do look at me like I'm some kind of John Walker Lindh-type maniac, but screw 'em, it's a great way to stay cool, protect your brain, and prevent sunburn. Don't get me wrong, I don't walk around town like that, but when I was hiking in Hawaii and such, you bet you're ass. I think this summer I'm gonna go to the Army Navy Surplus and buy one of their straight up Iraqi keffiyeh head wraps. Then I'll be legit.

I was just about to say that. In the army we know we are fighting in the desert, and as such, need the best equipment for that particular theatre of conflict. Therefore, as part of standard army issue, they give you a bunch of garments etc that are all the stuff the middle easterns wear. Everything from terrorist/bank robber looking masks, to garments that shield your neck from the sun, to Keffiyeh's like you said. I have a whole box of stuff I brought back that would make me look like a terrorist but I would take on any hiking or camping trip because it's just what works best.