Bush wins another one for his buddies in the oil Industry

Chellspeck, baby, chellspeck!

 

Since you allegedly are more knowledgeable, please explain to me in exact $ figures, and listing your equations and assumptions, the effects of an additional 1 million barrels per day on 1. worldwide oil prices and 2. retail gasoline prices in the US.

Thanks.

 

Save the towel! Bigtexx might need it if his aim is off.

 

I really don't understand the other side. If there is a way to reduce the cost of oil then we should pursue it.

 

If there is a way to find alternative sources of energy, we should pursue that as well, dontcha think?

 

Good, then I'm glad. I hope you will support me when I call for the banning of all non-hybrid or non-electric cars in the US. Also you should be forced to take public transit 3 days a week.

This will drastically reduce the cost of oil, far more than any pitifully minor addition to global oil reserves.

This may seem extreme to you, but if there is a way to reduce the cost of oil then we should pursue it. So send me your keys.

 

Out of curiousity, assuming you're married, would you cheat on your wife if no one in the world, her included, would ever find out? Just curious.

 

I'm not going to believe a guy's interview from a Petroleum publication when even Chevron won't release it's crude details. I have trouble finding the actual USGS report detailing its characteristics. Do you happen to have it?

The crude we have seen from the arctic has been heavy. If I'm totally right when they start drilling, that'll be their bad.

 

and isn't bush a big supporter of fuel cells???

did yall ever think that maybe its because the oil supply for the future is a HUGE issue???? christ i swear u people think oil is only used for cars in america. and you guys think this will destroy the environment or something. quit being so over the top and start looking at facts.

 

we already are....wake up! there was just a HUGE development in solar power cells about a week ago that increases power production 3 to 7 times and cuts the costs of solar cells by a factor of 100.

 

Do expand upon this please. Links, etc. Interested party here.

 

from what i see the world uses about an avg of 81 million barrels per day. so don't you agree that it is a massive find when you can possibly supply 1%+ of the world's daily oil demands from a 2,000 acre exploration site?

 

Bush supports fuel cells that run on the hydrocarbon model of refueling. The petrol industry would maintain it infrastructure, and everyone wins....

 

Actually, by the time that site is pumping out 1 million per day (best case scenario, of course), global consumption will be much higher.

But anyway, that's what I'm asking.

Crude oil is around 50$ a barrel. How much will this 1% increase in supply affect that price?

 

What model of refueling do you advocate? By "hydrocarbon model of refueling", are you talking about having hydrogen refilling stations at the existing gas stations? Or are you talking about producing hydrogen from natural gas through steam methane reformation, which currently is the cheapest way to produce hydrogen? Hydrogen is a tricky gas to create, since most of the time you're expending more energy in creating it that you receive from converting it into electricity. It has value in its ability to store energy, but it's a long way from being economic.

 

i feel kind of dumb now since i didnt do more research when i originally heard this news story as a blurb.

here is the link http://www.technewsworld.com/story/science/40971.html

basically it is much more speculative than the way i understood it to be before. but time will tell...

 

http://www.eia.doe.gov/emeu/cabs/usa.html

i'm sure that will explain a lot.

 

The taxpayer's proceeds is cheaper gas. We're wringing the oil reserves dry until it can't sustain us anymore. Our entire infrastructure relies on oil, from transportation, shipping, energy, energy services, manufacturing, construction, etc...

Since we have no reliable way to determine the world's entire net reserves, we could run out of oil real fast. When that time comes, the proponents of ANWR drilling will claim that they were right all along. We better hope that private industry is making a cheap and reliable alternate energy source because the White House is primarily interested in short term greed.

 

Wow, instead of investing oil why not invest more into finding and researching other fuel types. According to current estimates there is about 50 years of oil left on the Earth and it is probably much lower than that considering that oil consumption is constantly rising. If Bush is so favorable of other fuel sources why do we keep trying to find ways to produce more oil? To try and drive prices down? Seems to me if you find a better source the price of oil would drop even further than if you found more. Then you have people say that technology is years away but England has a hydrogen-powered motorcycle and Chrysler said that hydrogen-powered cars are 6-7 years away from being on the market. With extra money going to these alternative fuel sources couldn't we cut that time and then cut the time before we see a sweeping change of fuel usage among Americans?

 

sam,

also i dunno where u got that 2.5 month figure for 10 bln barrels of oil. the u.s. currently uses 20.5 mln bpd. so thats over a year's worth of oil. it may not sound like the mother load but the U.S. only produces like 5+ million bpd. so something that could augment that total by 15-20% would be pretty nice.