To drill or not to drill?
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From: >wwOwww<
Who is it that is investing into drilling? I don't agree that it would take 20 years to get a return, but if it did, isn't that a concern for the investers? Aren't they aware of the risks of investing?
If it takes 5 years to get any oil out, which I don't believe it does, why is that a bad thing? Wouldn't that give more time to come up with viable alternatives?
I'm not the smartest guy around so, could you help me understand how it would be more efficient to just find a completely new source of energy when just about all of us are using vehicles that burn pertoleum, of which we know there is more to be had? In addition to the vehicles we use there are many other things that we rely on every day that are derived from oil. Here in the northeast, a lot of people heat their homes with heating oil. Is the alternative for our transportation going to be the same for our heating?
We need money. This money that is being "burned away" in Iraq would have otherwise been spent on oil for the American consumer? I don't think so. The money comes from investors. The democrats, with whom you are sharing an increasing number of talking points with, are proposing taking profits from "big oil". It seems to me that "big oil' is in the prime position to fund the research needed to come up with viable alternatives and make a fortune doing so. Our governemnt isn't there to make prices for commodities cheap, but one of their rolls is national defense. I'd rather the government "burned away" money in Iraq and other fronts in the war against terrorists than try to fund innovation.
If it takes 5 years to get any oil out, which I don't believe it does, why is that a bad thing? Wouldn't that give more time to come up with viable alternatives?
I'm not the smartest guy around so, could you help me understand how it would be more efficient to just find a completely new source of energy when just about all of us are using vehicles that burn pertoleum, of which we know there is more to be had? In addition to the vehicles we use there are many other things that we rely on every day that are derived from oil. Here in the northeast, a lot of people heat their homes with heating oil. Is the alternative for our transportation going to be the same for our heating?
We need money. This money that is being "burned away" in Iraq would have otherwise been spent on oil for the American consumer? I don't think so. The money comes from investors. The democrats, with whom you are sharing an increasing number of talking points with, are proposing taking profits from "big oil". It seems to me that "big oil' is in the prime position to fund the research needed to come up with viable alternatives and make a fortune doing so. Our governemnt isn't there to make prices for commodities cheap, but one of their rolls is national defense. I'd rather the government "burned away" money in Iraq and other fronts in the war against terrorists than try to fund innovation.
That means Iraq don't get anything anyway
WE get all of it.
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From: western washington
The board of directors dictate saleries for the execs. There is also a lot of money for investment in the company to grow it. And search for more oil. The point is, but public has a vested interest in seeing the oil companies do good.
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From: Sask. Canada
I don't know where you guys are getting your figures from for your 5, 10, 20 years to produce oil. I work the drilling rigs and have for some time. Right now my rig is punching ~2000 meter horizontal (6000 feet) wells in about 8 days. From the time the rig hits the lease the well is paid for within 90 days. Each well costs about $1,000,000 just to drill, then the service rig comes on for about 4 days and then they set up the pump jack and it starts producing within 2 weeks and its paid for within that 90 days so I have no idea where you guys are getting your 5-10-20 years to start producing. I haven't worked offshore but there is no way that it would not take 5 years for that well to start producing, the oil patch don't F U C K around.
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From: guess
http://finance.comcast.net/www/news....16/1010706.xml
Crude's slide follows a drop of $6.44, or 4.4 percent, during a volatile trading session Tuesday. That decline was the biggest one-day drop in dollar terms since the Gulf War.
Crude's slide follows a drop of $6.44, or 4.4 percent, during a volatile trading session Tuesday. That decline was the biggest one-day drop in dollar terms since the Gulf War.
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From: North of Dallas, South of Frisco
Didn't drop a penny here...
Funny, if it had gone up $10, we'd have seen them out there changing the signs, But, let it drop $10, and that takes days, if not weeks to trickle back to us. The reason the give is, we still have to pay for what they paid to get the fuel they already have (on the way down). On the way up, we have to pay what it will cost them to replinish their stores...
They've got a beneficial (for them) excuse for everything....
Funny, if it had gone up $10, we'd have seen them out there changing the signs, But, let it drop $10, and that takes days, if not weeks to trickle back to us. The reason the give is, we still have to pay for what they paid to get the fuel they already have (on the way down). On the way up, we have to pay what it will cost them to replinish their stores...
They've got a beneficial (for them) excuse for everything....
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Joined: Sep 1999
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From: Ventura, California
I don't know where you guys are getting your figures from for your 5, 10, 20 years to produce oil. I work the drilling rigs and have for some time. Right now my rig is punching ~2000 meter horizontal (6000 feet) wells in about 8 days. From the time the rig hits the lease the well is paid for within 90 days. Each well costs about $1,000,000 just to drill, then the service rig comes on for about 4 days and then they set up the pump jack and it starts producing within 2 weeks and its paid for within that 90 days so I have no idea where you guys are getting your 5-10-20 years to start producing. I haven't worked offshore but there is no way that it would not take 5 years for that well to start producing, the oil patch don't F U C K around.
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From: >wwOwww<
Maybe it's not the drilling and raising the oil to the surface that takes so long. It is probably the infrastructure, machinery, pipe lines, refineries,ETC; to get everything in place. That will take so long. I know the Alaska pipeline took along time to build , and it is antiquated now. Getting "the man" off his *** and making the desisions would speed the procsess up.
Knowng the authorities that are, they'll not do anything untill Uncle Sam gives them money and incentives to get the job done. So in the end we the tax payer wil foot the bill. Capitalist system for the huge corps., socialist system for the rest of us{as far as our wallets are concerned} to speed this process up
Knowng the authorities that are, they'll not do anything untill Uncle Sam gives them money and incentives to get the job done. So in the end we the tax payer wil foot the bill. Capitalist system for the huge corps., socialist system for the rest of us{as far as our wallets are concerned} to speed this process up
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From: Tulsa, O K L A H O M A!
According to the DOE Report, in Alaska, it would take 9 years to get oil flowing, and 21 years before it reached it's full potential.
-$100,000,000 PER DAY revenue for a USA-based oil company. $100,000,000 per day company revenue creates a lot of jobs here instead of sending them overseas.
-Assuming a 10% profit margin (which is reasonable), that is $10,000,000 PER DAY profit to the oil company shareholders. This includes a lot of pension funds, retirement accounts, state retirement plans, etc.
-Assuming a 10% tax rate on the revenue (which includes leasing fees, income taxes, etc. and is probably a bit low), that is $10,000,000 PER DAY revenue directly to the US government. The US Government could have had an additional $3.65 BILLION dollars this year in tax revenue just by not exercising the veto in 1996.
These numbers are a rough, but they are in the ballpark.
Grim
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From: Tulsa, O K L A H O M A!
Grim
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From: >wwOwww<
We even have an oil and brine museum in the area.
It's no Kuwait or anything , but we're pumping oil all the time down here
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From: Tulsa, O K L A H O M A!
South Arkansas only produces about 7 million barrels of oil per year, which isn't much compared to the natural gas production in NWA. Of course, every little bit helps!
Grim
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From: >wwOwww<
LOL, yeah, the company I work for sells to Murphy Oil. I was working on a big expansion project for them a few months ago (not to mention my wife is from South Arkansas).
South Arkansas only produces about 7 million barrels of oil per year, which isn't much compared to the natural gas production in NWA. Of course, every little bit helps!
Grim
South Arkansas only produces about 7 million barrels of oil per year, which isn't much compared to the natural gas production in NWA. Of course, every little bit helps!
Grim
New wells are opening weekly in the area. Like I said we're no Kuwait,but it is what we have.
Tou know there has been a new natural gas find in northern louisiana that is promising to be very large