U.S. uses 21 million barrels of oil a day, produces 7 million
06-18-2008, 11:59 PM
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U.S. uses 21 million barrels of oil a day, produces 7 million
So billionaire oil investor T. Boone Pickens said on Tuesday. "I do believe you have peaked out at 85 million barrels a day globally," Pickens, who heads BP Capital hedge fund with more than $4 billion under management, said during testimony to the Senate Energy and Natural Resources Committee.
It looks like the U.S. consumes about ¼ of the World oil, and produces about 1/3 of what it uses. With 10 quarts of oil per oil change and 20mpg of fuel burn, we are not looking so good. As we watch the inflation of goods, and the deflation of the housing assets and U.S. Dollar with the largest export of our wealth in U.S. history, the 911 becomes more dear and important to many of us.
The “drive”, once taken for granted is more appreciated. The time to tinker, fiddle, fix, adjust or rebuild----- that special time that takes us away from the down side of some of the realities of the past months------- can not have a price attached to it. It is a freedom and joy of the mind that is a gift returned for the passion.
So we drive a little less, but appreciate it more. Sometimes in life, especially with the near miss, life becomes more appreciated. For those who have been fortunate enough to own a Porsche and have been able to hold on to it---- appreciate what we have.
It looks like the U.S. consumes about ¼ of the World oil, and produces about 1/3 of what it uses. With 10 quarts of oil per oil change and 20mpg of fuel burn, we are not looking so good. As we watch the inflation of goods, and the deflation of the housing assets and U.S. Dollar with the largest export of our wealth in U.S. history, the 911 becomes more dear and important to many of us.
The “drive”, once taken for granted is more appreciated. The time to tinker, fiddle, fix, adjust or rebuild----- that special time that takes us away from the down side of some of the realities of the past months------- can not have a price attached to it. It is a freedom and joy of the mind that is a gift returned for the passion.
So we drive a little less, but appreciate it more. Sometimes in life, especially with the near miss, life becomes more appreciated. For those who have been fortunate enough to own a Porsche and have been able to hold on to it---- appreciate what we have.
06-19-2008, 12:21 AM
#2
Burning Brakes
Go Nuke, Coal to liquid fuel, Drill Drill Drill......
Go Nuke for domestic electricity like the europeans do
Convert coal to liquid fuel at $60 /barrel....industry not doing it because of fear of the evirnomentalist
***** in congress might tax them so much for carbon production that its not worth it..yet this
country is sitting on the worlds largest coal supply
Drill Drill Drill....the Chinese are doing it 60miles off the coast of Florida...why aren't we?
More refinaries....California has not built one in over 25years! Yet our population has doubbled.
How much are you willing to pay before you realize that we have alot of oil that has not been tapped because of the evirnomentalist...how much unemployment are you willing to tolerate as a result of less energy=less growth=stagnant economy
Think about, we want OPEC to give us more....but we are not willing to drill in our own back yard. bears.
Don' t get me wrong...I too want clean water/air...but when you have idiots in congress who vote against Nuke, drilling, want to tax natural gas, oil, coal and are telling us that will help solve the problem..they are the problem. They complain about BIG OIL making $8bill on 100bill sales last quarter and call this a windfall profit that must be taxed. Yet most industries make 10-15% on their sales....and the government made $16 billion on that same $100 billion without producing anything just on TAXES.
They also tell us that us producing more oil will not help the price of gas...helloooowwww, what economic class did you attend...university of the USSR
Oh yes, an there is alternative fuel. Look people when it becomes ecomically feasible it will come.
Don't need to tax us out of existence looking for an alchemist to invent some fuel that will be cleaner...but cost you the equivalent of $$$$/mile.
Sorry for my rage...and the board monitor be free to delete this if its too hot.
Pickens is right...we have peaked...because our congress wants it that way. Well, maybe when we hit
$10/gallon, and you can't afford food and you are unemployed living like a third world country..maybe,just maybe congress and the people will do what 2 week old pups do...OPEN there eyes!
Then again we can kill whales for oil, burn wood to cook, ride a horse and buggy, light a candle at night, and forget work... grow our veges/chickens/pigs.... delightfull thought. And you think oil and coal polutes.
On last thing for those living off the coast of Santa Barbara....I have sailed to all the islands in the Channel Islands. Everytime you walk the sands of those islands there is a good chance your are going to get tar/oil on your feet. Why you may ask....well the place under water is ooozing with oil. In fact there is a natural well ooozing off the coast of San Miguel Island that equals an Exxon Valdez every ten years! I say tap those wells relieve some of the pressure and you will have cleaner ocean!... Drive by Goleta....same thing tar/oil oooziiing off the sand into the ocean!
Let be KING for 8 years...I will solve this energy problem
abe
Convert coal to liquid fuel at $60 /barrel....industry not doing it because of fear of the evirnomentalist
***** in congress might tax them so much for carbon production that its not worth it..yet this
country is sitting on the worlds largest coal supply
Drill Drill Drill....the Chinese are doing it 60miles off the coast of Florida...why aren't we?
More refinaries....California has not built one in over 25years! Yet our population has doubbled.
How much are you willing to pay before you realize that we have alot of oil that has not been tapped because of the evirnomentalist...how much unemployment are you willing to tolerate as a result of less energy=less growth=stagnant economy
Think about, we want OPEC to give us more....but we are not willing to drill in our own back yard. bears.
Don' t get me wrong...I too want clean water/air...but when you have idiots in congress who vote against Nuke, drilling, want to tax natural gas, oil, coal and are telling us that will help solve the problem..they are the problem. They complain about BIG OIL making $8bill on 100bill sales last quarter and call this a windfall profit that must be taxed. Yet most industries make 10-15% on their sales....and the government made $16 billion on that same $100 billion without producing anything just on TAXES.
They also tell us that us producing more oil will not help the price of gas...helloooowwww, what economic class did you attend...university of the USSR
Oh yes, an there is alternative fuel. Look people when it becomes ecomically feasible it will come.
Don't need to tax us out of existence looking for an alchemist to invent some fuel that will be cleaner...but cost you the equivalent of $$$$/mile.
Sorry for my rage...and the board monitor be free to delete this if its too hot.
Pickens is right...we have peaked...because our congress wants it that way. Well, maybe when we hit
$10/gallon, and you can't afford food and you are unemployed living like a third world country..maybe,just maybe congress and the people will do what 2 week old pups do...OPEN there eyes!
Then again we can kill whales for oil, burn wood to cook, ride a horse and buggy, light a candle at night, and forget work... grow our veges/chickens/pigs.... delightfull thought. And you think oil and coal polutes.
On last thing for those living off the coast of Santa Barbara....I have sailed to all the islands in the Channel Islands. Everytime you walk the sands of those islands there is a good chance your are going to get tar/oil on your feet. Why you may ask....well the place under water is ooozing with oil. In fact there is a natural well ooozing off the coast of San Miguel Island that equals an Exxon Valdez every ten years! I say tap those wells relieve some of the pressure and you will have cleaner ocean!... Drive by Goleta....same thing tar/oil oooziiing off the sand into the ocean!
Let be KING for 8 years...I will solve this energy problem
abe
06-19-2008, 12:33 AM
#3
I am just happy to wear my Jimmy Carter sweater while sitting on my enviromentally correct low flush toilet lighted by a compact flourscent bulb comtemplating the Left's energy policy.
06-19-2008, 08:38 AM
#4
Drifting
It's getting real expensive for offshore drilling-lack of ships and oil platforms
http://www.newsobserver.com/print/th...y/1113105.html
As a result, drilling costs for some of the newest deepwater rigs in the Gulf of Mexico -- the nation's top source of domestic oil and natural gas supplies -- have reached about $600,000 a day, compared with $150,000 a day in 2002.
Demand is so high that shipbuilders have raised prices since last year by up to $100 million a vessel to about half a billion dollars.
I would love to see out country stop it's addicton to oil and let China/Russia deal with the problems in the middle east for their needs.
John
http://www.newsobserver.com/print/th...y/1113105.html
As a result, drilling costs for some of the newest deepwater rigs in the Gulf of Mexico -- the nation's top source of domestic oil and natural gas supplies -- have reached about $600,000 a day, compared with $150,000 a day in 2002.
Demand is so high that shipbuilders have raised prices since last year by up to $100 million a vessel to about half a billion dollars.
I would love to see out country stop it's addicton to oil and let China/Russia deal with the problems in the middle east for their needs.
John
06-19-2008, 11:37 AM
#5
Addicted Specialist
Rennlist Member
Rennlist Member
06-19-2008, 11:47 AM
#6
Banned
............................................. ................Don't get me started............it is certainly not the first time, but we (America and Americans) when benchmarked against the rest of the world with our policies regarding the development of our own natural resources are quite simply singularly stupid. Please advise if you are aware of another country on the planet which sits on undeveloped (and needed) natural resources (hydrocarbon deposits or platinum, gold, etc.) and does not seek to develop same.
Also- some of you may have seen this as well, but BP just paid $1.2Billion, yes BILLION, for an exploration license in the Canadian Beaufort sea. A check for $1.2 Billion was deposited into the Canadian Treasury for the right to EXPLORE for hydrocarbons. There is NO GUARANTEE of any kind that there are commercially feasible hydrocarbon deposits in that specific exploration area. If BP finds hydrocarbons they will still need to spend more BILLIONS to develop and produce those hydrocarbons and the Canadian Treasury will reap further royalty revenue when these deposits are developed.
http://www.thestar.com/Business/article/440116
What does this have to do with anything? If we open the US continental shelf for drilling.............BILLIONS upon BILLIONS will be put into the US Treasury as soon as the area can be parced up and auctioned for EXPLORATION licenses/leases (could fix a few of the current and future problems on our plate). Not to mention the future royalty streams which also go into the US Treasury (MMS) if and when the hydrocarbons are developed and produced.
I'm done for now.
Cheers
06-19-2008, 12:06 PM
#7
Rennlist Member
So billionaire oil investor T. Boone Pickens said on Tuesday. "I do believe you have peaked out at 85 million barrels a day globally," Pickens, who heads BP Capital hedge fund with more than $4 billion under management, said during testimony to the Senate Energy and Natural Resources Committee.
It looks like the U.S. consumes about ¼ of the World oil, and produces about 1/3 of what it uses. With 10 quarts of oil per oil change and 20mpg of fuel burn, we are not looking so good. As we watch the inflation of goods, and the deflation of the housing assets and U.S. Dollar with the largest export of our wealth in U.S. history, the 911 becomes more dear and important to many of us.
The “drive”, once taken for granted is more appreciated. The time to tinker, fiddle, fix, adjust or rebuild----- that special time that takes us away from the down side of some of the realities of the past months------- can not have a price attached to it. It is a freedom and joy of the mind that is a gift returned for the passion.
So we drive a little less, but appreciate it more. Sometimes in life, especially with the near miss, life becomes more appreciated. For those who have been fortunate enough to own a Porsche and have been able to hold on to it---- appreciate what we have.
It looks like the U.S. consumes about ¼ of the World oil, and produces about 1/3 of what it uses. With 10 quarts of oil per oil change and 20mpg of fuel burn, we are not looking so good. As we watch the inflation of goods, and the deflation of the housing assets and U.S. Dollar with the largest export of our wealth in U.S. history, the 911 becomes more dear and important to many of us.
The “drive”, once taken for granted is more appreciated. The time to tinker, fiddle, fix, adjust or rebuild----- that special time that takes us away from the down side of some of the realities of the past months------- can not have a price attached to it. It is a freedom and joy of the mind that is a gift returned for the passion.
So we drive a little less, but appreciate it more. Sometimes in life, especially with the near miss, life becomes more appreciated. For those who have been fortunate enough to own a Porsche and have been able to hold on to it---- appreciate what we have.
abe: I remember, as a boy, walking on Zuma Beach in Malibu, and running across patches of the tar-like substance at water's edge. I personally don't see a problem with coastal drilling - Katrina didn't cause any damage/leaks, so I assume that the folks building those rigs know what they're doing. It won't be the end-all, cure-all, but it'll go a long way toward the USA providing for the USA. And, in the middle of all of this let's not forget about Iraq. We've contributed about $500 B to give them a chance at freedom, their country is slowly but surely turning a corner, isn't it time for them to return some of our investment in the form of discounted oil - kind of to tide us over while we're building rigs?
Last edited by Peter Zimmermann; 06-19-2008 at 12:33 PM.
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06-19-2008, 02:02 PM
#8
Burning Brakes
Peter come on over and Ill take you the islands to show the oil....
Brilliant, simply brilliant...
abe: I remember, as a boy, walking on Zuma Beach in Malibu, and running across patches of the tar-like substance at water's edge. I personally don't see a problem with coastal drilling - Katrina didn't cause any damage/leaks, so I assume that the folks building those rigs know what they're doing. It won't be the end-all, cure-all, but it'll go a long way toward the USA providing for the USA. And, in the middle of all of this let's not forget about Iraq. We've contributed about $500 B to give them a chance at freedom, their country is slowly but surely turning a corner, isn't it time for them to return some of our investment in the form of discounted oil - kind of to tide us over while we're building rigs?
abe: I remember, as a boy, walking on Zuma Beach in Malibu, and running across patches of the tar-like substance at water's edge. I personally don't see a problem with coastal drilling - Katrina didn't cause any damage/leaks, so I assume that the folks building those rigs know what they're doing. It won't be the end-all, cure-all, but it'll go a long way toward the USA providing for the USA. And, in the middle of all of this let's not forget about Iraq. We've contributed about $500 B to give them a chance at freedom, their country is slowly but surely turning a corner, isn't it time for them to return some of our investment in the form of discounted oil - kind of to tide us over while we're building rigs?
abe
abe
06-19-2008, 06:25 PM
#9
"Our continent has at least three times more oil than the Arabs"
one of the more ridiculous stmts above. where did you hear that one??
there is little oil left anywhere (Iraq is one exception) and even less easy to reach oil left.
even if using oil to power cars (little is used to lubricate cars) and trucks did not demand more than we can easily & cheaply find, said usage is destroying the ecosystems we depend on for food via CO2 inputs to the atmosphere -- you can forget the spills -- even the Exxon Valdez was small potatoes to what is coming.
sure, off shore drilling will add a small amt. of oil in 5 years or so, but at what cost?
do you seriously think the Gov.s of FL and CA are going to allow it?
one of the more ridiculous stmts above. where did you hear that one??
there is little oil left anywhere (Iraq is one exception) and even less easy to reach oil left.
even if using oil to power cars (little is used to lubricate cars) and trucks did not demand more than we can easily & cheaply find, said usage is destroying the ecosystems we depend on for food via CO2 inputs to the atmosphere -- you can forget the spills -- even the Exxon Valdez was small potatoes to what is coming.
sure, off shore drilling will add a small amt. of oil in 5 years or so, but at what cost?
do you seriously think the Gov.s of FL and CA are going to allow it?
06-19-2008, 06:47 PM
#10
Rennlist Member
I think that this would be a Fed deal, not State. If the two states don't comply all the Fed has to do is cut off funds to them (anyway, I think that Crist recently took a hard look at what FL's people are going through, because of high gas prices, and has changed his mind about drilling). That said, it's the dems in the legislature that keep shooting down giving states the choice, maintaining control over the ban on drilling.
Last edited by Peter Zimmermann; 06-19-2008 at 07:13 PM.
06-19-2008, 07:49 PM
#11
I expect it depends on how far off the coast. The US maintains an exclusive economic zone that is far wider than state jd. Nonetheless, states do have a zone of their own (like the alliteration?) -- part of the sea like navigable rivers have always been seen as "waters of the state." altho I can't recall the case right off-hand.
There is pending legisl. to let states choose more - I expect it is for political reasons. We are not going to see offshore drilling (except for in La.) for the next 4 to 8 years at least.
Oh - BTW - the republicans could have easily passed a bill when they had complete control of every branch of govt. They didn't. Guess why? People in FL and CA hate the idea. Repubs. need FL badly.
There is pending legisl. to let states choose more - I expect it is for political reasons. We are not going to see offshore drilling (except for in La.) for the next 4 to 8 years at least.
Oh - BTW - the republicans could have easily passed a bill when they had complete control of every branch of govt. They didn't. Guess why? People in FL and CA hate the idea. Repubs. need FL badly.
06-19-2008, 08:00 PM
#12
Rennlist Member
...and the Clinton admin. surely could have built some nuke plants, encouraged construction of a few new refineries, upped the cause for solar, etc., when the dot.com money was pouring in from the incredible business being done in the mid-'90s - what got done besides Monica? Butkus, that's what...
06-19-2008, 08:59 PM
#13
Burning Brakes
People need to do their homework...shell, coal to liquid fuel that can be converted to gas, atlantic, pacific, carribean....its there. We have been led to believe that we are running out because this country has not been allowed to drill for 25-30 years!. I can remember when it was 'the end of the world" in the late 70's....only 10 more years and no more oil....I guess most people here are too young to remember.
I'll bet you didn't even know that the USA is the third largest producer of oil!. Recently the Canadians are drilling and pumping and we are buying from them....yet we cant drill ourselves. The Chinese/Indians with the Cubans are drilling off Florida....and we can't drill. We have a large reserve if we tap it....sure we will run out soon because we are not drilling.
abe
I'll bet you didn't even know that the USA is the third largest producer of oil!. Recently the Canadians are drilling and pumping and we are buying from them....yet we cant drill ourselves. The Chinese/Indians with the Cubans are drilling off Florida....and we can't drill. We have a large reserve if we tap it....sure we will run out soon because we are not drilling.
abe
06-19-2008, 10:37 PM
#14
I'm a progressive, liberal, democrat-voting, vegetarian, tree-hugger. Yet one of my great passions is driving my 911.
What a hippocrit, huh? I won't even pretend not to be. Afterall, I could choose another hobby/interest that didn't cause nearly as much environmental harm.
I wrestle with my conscience over it. Then, I go drive my Porsche.
It ain't the Republicans or Democrats that are to blame. It's me. And I think a lot of other people just like me.
What a hippocrit, huh? I won't even pretend not to be. Afterall, I could choose another hobby/interest that didn't cause nearly as much environmental harm.
I wrestle with my conscience over it. Then, I go drive my Porsche.
It ain't the Republicans or Democrats that are to blame. It's me. And I think a lot of other people just like me.
06-19-2008, 11:55 PM
#15
Banned
Randy,
...................................................... .............................
Please educate me. I beg you to tell me of one other country on the face of the earth which does not seek to fully utilize its available natural resources? Please just tell me one. Also curious to learn your thoughts about the $1.2 Billion of BP cash in the Canadian Treasury......
Also I would urge you to take a read of the attached (of course it is by the API.............).........just take a read...............curious to hear your thoughts on the factual information contained therein.........
http://www.energytomorrow.com/media/resources/r_526.pdf
BTW - Governors Crist and Schwarzenegger will have a very difficult time dictating anything beyond 12 nautical miles from their respective coasts - I guess unless they commission their own navies.............
...................................................... .............................Please educate me. I beg you to tell me of one other country on the face of the earth which does not seek to fully utilize its available natural resources? Please just tell me one. Also curious to learn your thoughts about the $1.2 Billion of BP cash in the Canadian Treasury......
Also I would urge you to take a read of the attached (of course it is by the API.............).........just take a read...............curious to hear your thoughts on the factual information contained therein.........
http://www.energytomorrow.com/media/resources/r_526.pdf
BTW - Governors Crist and Schwarzenegger will have a very difficult time dictating anything beyond 12 nautical miles from their respective coasts - I guess unless they commission their own navies.............