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Car Forum / Driving, Maintenance, Tuning / Driving / May 2007Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aoZ7q9LhDrVs&refer=home Colorado, Utah Rival OPEC Reserves, Lure Chevron, Exxon, Shell By Joe Carroll May 29 (Bloomberg) -- Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined. That's not science fiction. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to rival OPEC and supply the U.S. for a century. Exxon Mobil Corp. and Chevron Corp., the two biggest U.S. energy companies, and Royal Dutch Shell Plc are spending $100 million a year testing new methods to separate the oil from the stone for as little as $30 a barrel. A growing number of industry executives and analysts say new technology and persistently high prices make the idea feasible. ``The breakthrough is that now the oil companies have a way of getting this oil out of the ground without the massive energy and manpower costs that killed these projects in the 1970s,'' said Pete Stark, an analyst at IHS Inc., an Englewood, Colorado, research firm. ``All the shale rocks in the world are going to be revisited now to see how much oil they contain.'' (snip) ------------------------- And we wouldn't even need this if we could just get the idiot american to drive smaller cars and at lower speeds. Speeders & Drunk Drivers are MURDERERS wrote on 5/29/07 11:12 PM: > ``The breakthrough is that now the oil companies have a way of getting > this oil out of the ground without the massive energy and manpower costs > that killed these projects in the 1970s,'' said Pete Stark, an analyst > at IHS Inc., an Englewood, Colorado, research firm. ``All the shale > rocks in the world are going to be revisited now to see how much oil > they contain.'' IF they had a economically feasible way of extracting it, they would have started already.....More surveys are NOT what's holding it up...... P.S. That may be a record for a subject line.....CONGRATULATIONS!!! > IF they had a economically feasible way of extracting it, they would > have started already.....More surveys are NOT what's holding it up...... > P.S. That may be a record for a subject line.....CONGRATULATIONS!!! There already is an economically feasible way of doing it and is being done in Israel. The problem is that $30 a barrel extraction costs are much more than $5 a barrel extraction costs in the middle east. Now the real middle east extraction costs might be well over $30, but it's the US taxpayer that foots the security, military, and foreign aid bills that make up everything beyond the $5 technical and royality costs seen by the oil companies. When the taxpayers stop making that oil cheaper for the oil companies, then the oil companies will consider using other sources here in the americas that have higher technical costs, but have zero or near zero military/security/aid cost compared with middle east oil. On May 29, 8:34 pm, tetraethylleadREMOVET...@yahoo.com (Brent P) wrote: > In article <C28265B7.698BC%bla...@comcast.net>, Blash wrote: > > IF they had a economically feasible way of extracting it, they would [quoted text clipped - 4 lines] > done in Israel. The problem is that $30 a barrel extraction costs are > much more than $5 a barrel extraction costs in the middle east. Then how is it economically feasible? What you said was it is technically feasible. But if it's 6 times the cost to extract oil from the middle east, then it's not economically feasible. > Now the > real middle east extraction costs might be well over $30, but it's the US [quoted text clipped - 4 lines] > here in the americas that have higher technical costs, but have zero or > near zero military/security/aid cost compared with middle east oil. You either pay for it with security, or pay for it at the pump. Your choice. > On May 29, 8:34 pm, tetraethylleadREMOVET...@yahoo.com (Brent P) > wrote: [quoted text clipped - 10 lines] > technically feasible. But if it's 6 times the cost to extract oil > from the middle east, then it's not economically feasible. Have you looked at the price of oil recently? Hint: At $30 a barrel cost, one has 100+% margin... >> Now the >> real middle east extraction costs might be well over $30, but it's the US [quoted text clipped - 4 lines] >> here in the americas that have higher technical costs, but have zero or >> near zero military/security/aid cost compared with middle east oil. > You either pay for it with security, or pay for it at the pump. Your > choice. We are paying it both ways and then some. We are paying for the military mis-adventures of empire, we are paying costs of $65/barrel oil, and the dollar is losing value undermining our savings. For what? To avoid paying $30-40 for a barrel of oil made with resources right here in the americas? The ignorant american public is being robbed from all angles. >> On May 29, 8:34 pm, tetraethylleadREMOVET...@yahoo.com (Brent P) >> wrote: [quoted text clipped - 39 lines] > > The ignorant american public is being robbed from all angles. $30 margin???? I think you forgot a couple of middle men in there. 704set >>> On May 29, 8:34 pm, tetraethylleadREMOVET...@yahoo.com (Brent P) >>> wrote: [quoted text clipped - 41 lines] > > $30 margin???? I think you forgot a couple of middle men in there. Make up imginary middle men.... Big oil is vertically integrated, any 'middle men' are an accounting illusion. >> ``The breakthrough is that now the oil companies have a way of getting >> this oil out of the ground without the massive energy and manpower costs >> that killed these projects in the 1970s,'' said Pete Stark, an analyst >> at IHS Inc., an Englewood, Colorado, research firm. ``All the shale >> rocks in the world are going to be revisited now to see how much oil >> they contain.'' > IF they had a economically feasible way of extracting it, they would > have started already... If that inference were true, why isn't oil being drilled off the California coast? Eco-nuts and NIMBYs have stopped both projects. John David Galt: > >> ``The breakthrough is that now the oil companies have a way of getting > >> this oil out of the ground without the massive energy and manpower costs [quoted text clipped - 8 lines] > If that inference were true, why isn't oil being drilled off the California > coast? Eco-nuts and NIMBYs have stopped both projects. Kinda like how the kennedys scuttled a windfarm project off of Hyannis port. (Ref: http://snipurl.com/1mql5)  Signature"Do we operate under a system of equal justice under law? Or is there one system for the average citizen and another for the high and mighty?" --Senator Ted Kennedy > Speeders & Drunk Drivers are MURDERERS wrote on 5/29/07 11:12 PM: > [quoted text clipped - 8 lines] > have started already.....More surveys are NOT what's holding it up...... > P.S. That may be a record for a subject line.....CONGRATULATIONS!!! Oh yeah right. Like the oil companies care about the country. They want gas at $10, you idiot, and they'll avoid going after shale as long as they can. Speeders & Drunk Drivers are MURDERERS spewed: > And we wouldn't even need this if we could just get the idiot american > to drive smaller cars and at lower speeds. If we could just get more idiots like *you* off the roads, then we wouldn't need 1/2 of the oil we are importing nor this stuff in CO and UT. This is a killer video I found. All the free time I have from cutting down on the driving leaves me time to find stuff like this: http://www.youtube.com/watch?v=cgg_HZotd3M Word of warning to anyone who is thinking of clicking the link above (except for you, S&DDAM): if you are squeamish, love bunnies or hate snakes, you shouldn't click the link. I hope you re-incarnate as the bunny, you luser! SignatureLoco Laura Bush murdered her boyfriend defends a known *DRUNK DRIVER*: "Teddy went off a single lane bridge with no guard rail at night. The real killer was the idiot who built the bridge. Next question." --Laura Bush murdered her boyfriend/laura bush - VEHICULAR HOMICIDE June 20th, 2006 Ref: http://tinyurl.com/zlnyz Message ID: qcch92lislem5sqq92qgf7hf9mlm847sgh@4ax.com |
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