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Tuesday, December 02, 2008 11:50:18 PM

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All the Oil We Need Thursday, August 21, 2008
The New York Times -- WHILE oil prices have declined somewhat of late, the volatility of the market and the political and religious unrest in major oil-producing countries has Americans worrying more than ever about energy security. But they have little to fear — contrary to common understanding, there are robust stockpiles of oil around the globe that could see us through any foreseeable calamities on the world market. True, trouble for the world’s energy supplies could come from many directions. Hurricanes and other natural disasters could suddenly disrupt oil production or transportation. Iran loudly and regularly proclaims that it can block oil exports from the Persian Gulf. The anti-American rhetoric of President Hugo Chávez of Venezuela raises fears of an export cutoff there. And ongoing civil unrest wreaks havoc with Nigeria’s output.
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	Thursday, August 21, 2008 The New York Times -- WHILE oil prices have declined somewhat of late, the volatility of the market and the political and religious unrest in major oil-producing countries has Americans worrying more than ever about energy security. But they have little to fear — contrary to common understanding, there are robust stockpiles of oil around the globe that could see us through any foreseeable calamities on the world market. True, trouble for the world’s energy supplies could come from many directions. Hurricanes and other natural disasters could suddenly disrupt oil production or transportation. Iran loudly and regularly proclaims that it can block oil exports from the Persian Gulf. The anti-American rhetoric of President Hugo Chávez of Venezuela raises fears of an export cutoff there. And ongoing civil unrest wreaks havoc with Nigeria’s output. Visit The New York Times for full article

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E-Squirrel All-Star Author Orange County Posts:555 Points:87,750 Joined:Feb 2005	Message Posted: 8/24/2008 3:31:34 PM	Ignore E-Squirrel Report Abuse
	Don1222 replies: "This may be a matter of semantics but for all practical purposes there is a limit to the amount of oil that can be taken out of the earth." I still have to disagree with that. Unless you set a price limit, the supply is flexible. Although the 19th century was primarily a wood and coal powered century, and the 20th was mostly oil powered, today, in the 21st century, we are still using coal. I believe that the dominant energy source in the 21st century will not be oil, but I believe that like coal, we will still be using it for a long time to come. Also, its not accurate to compare hydrogen with oil. Oil is an energy source, and hydrogen is not; its a fuel, that must be manufactured, as is gasoline from some energy source. While hydrogen appears very appealing for a fuel cell vehicle, its has many, many issues and problems. Because of these, I suspect that when the cost of fuel cells drops enough to permit their use in production vehicles, we will opt for methanol instead, as it can be used in the existing, present, infrastructure, and hydrogen cannot.
jim92065 Veteran Author San Diego Posts:360 Points:56,560 Joined:Jul 2008	Message Posted: 8/23/2008 11:33:03 PM	Ignore jim92065 Report Abuse
	BluestarAZ, You are using rational arguments. Sorry to say, they have little effect on the general public.
gas101CA All-Star Author California Posts:632 Points:75,605 Joined:Aug 2008	Message Posted: 8/23/2008 10:15:54 AM	Ignore gas101CA Report Abuse
	but how much is their?
niceguytx Champion Author Houston Posts:5,756 Points:1,116,720 Joined:Sep 2005	Message Posted: 8/23/2008 10:12:43 AM	Ignore niceguytx Report Abuse
	I hope there is plenty.
BluestarAZ Sophomore Author Arizona Posts:103 Points:68,940 Joined:May 2008	Message Posted: 8/23/2008 8:30:49 AM	Ignore BluestarAZ Report Abuse
	We need the offshore drilling. California says NO because of an oil spill in 1969. Technology has progressed so much in 39 years, the risk is basically nill. Hurricane Katrina didn't cause any spills!
LtBill Rookie Author Louisville Posts:37 Points:50,680 Joined:May 2008	Message Posted: 8/23/2008 4:12:03 AM	Ignore LtBill Report Abuse
	The problem is not so much the amount of oil available, but our dependency upon oil and the resulting harm to the environment.
E-Squirrel All-Star Author Orange County Posts:555 Points:87,750 Joined:Feb 2005	Message Posted: 8/22/2008 5:09:41 PM	Ignore E-Squirrel Report Abuse
	"Oil will run out - that's a fact - but it won't be for many decades, perhaps not in this lifetime." I have to respectfully disagree. We really don't know where all of the oil is, or what future technologies might let us recover oil that, at present, we cannot. Its impossible to predict therefore "when it might run out". Also, it will never really "run out". What will happen is that the cost of recovery will rise until its just not worth drilling for, and some new energy source will supplant it, much the way that wood as a source of energy from the past has been replaced. We never really ran completely out of wood either, we just moved on to other sources.
jat60 All-Star Author California Posts:761 Points:353,040 Joined:Sep 2005	Message Posted: 8/22/2008 10:11:18 AM	Ignore jat60 Report Abuse
	"Drill for oil independence." Now that's got to be the silliest thing I've heard in a long time. Look up the numbers, do the math, and you decide how long our "independence" would last.
no1doc Champion Author Milwaukee Posts:1,045 Points:177,850 Joined:Oct 2007	Message Posted: 8/22/2008 9:56:47 AM	Ignore no1doc Report Abuse
	Drill for oil independence.
jat60 All-Star Author California Posts:761 Points:353,040 Joined:Sep 2005	Message Posted: 8/22/2008 9:42:28 AM	Ignore jat60 Report Abuse
	For those who don't want to be bothered by reading this article, here's a synopsis: Strategic petroleum reserves, US and otherwise, contain plenty enough oil to prevent a disruption of refining capacity in the event of any realistic disruption in oil production. In other words, if a country shuts off their oil supply, or if there's a natural disaster, we have a backup supply to keep the oil flowing for many months. However, these reserves can't and shouldn't be used to influence oil prices. ____ Here's a quote: "Emergency reserves have their limits. They cannot free the industrialized world from the underlying economic fundamentals that drive energy prices." So when you hear politicians talk about using the SPR to help gas prices, just know that they're full of hot air. (Big surprise, eh?)
greywolves Champion Author Las Vegas Posts:1,237 Points:946,875 Joined:Dec 2004	Message Posted: 8/22/2008 9:41:15 AM	Ignore greywolves Report Abuse
	i think navy guy means prudhoe bay alaska. and we would need a couple of them and we would need a multi billion dollar pipeline and or billion dollar tankers.... my recollection is it took 14 years from lease to production, multiple federal lawsuits, a supreme court decision and an act of congress (brokered by that bag of nuts, mike gravel who tried running for president this spring). good luck
jat60 All-Star Author California Posts:761 Points:353,040 Joined:Sep 2005	Message Posted: 8/22/2008 9:33:45 AM	Ignore jat60 Report Abuse
	AlaRedNeck, you're right. With a twist. Oil will run out - that's a fact - but it won't be for many decades, perhaps not in this lifetime. Those shouting "drill now" are quick to point that out. But the twist is that while there's perhaps a lifetime supply of oil (that's ONE lifetime - ours - not our childrens' and grandchildren's), it's getting harder to get to, and more expensive, and with increasing political risks due to a finite resource that we're using up. If we increase drilling now, it won't help in the short term, may help by a few percent a few years out, and most certainly will hurt later. So drill here, drill now - I don't care. But don't do so with the expectation that it will help oil prices. And make damn sure you know where we're going to get more oil when we use up what we have.
USAFA82 Champion Author Colorado Springs Posts:1,591 Points:271,445 Joined:Feb 2008	Message Posted: 8/22/2008 9:29:40 AM	Ignore USAFA82 Report Abuse
	Still need to drill here and find alternative energy sources.
greywolves Champion Author Las Vegas Posts:1,237 Points:946,875 Joined:Dec 2004	Message Posted: 8/22/2008 9:29:06 AM	Ignore greywolves Report Abuse
	drill drill drill guys, like priceit,napermike,andthe rest are advocating the impractical and ineffective solution. fact1: at todays prices for crude,EVERY DRILL RIG IN THE WORLD IS ALREADY DRILL DRILL DRILLING AND LEASED OUT IN THE FORESEEABLE FUTURE AND A BACKLOG IN PRODUCTION OF DRILL RIGS. fact2:EVERY HIGHLY TRAINED SKILLED ENGINEER CAPABLE FOR RUNNING THESE VERY EXPENSIVE AND COMPLEX RIGS IS EMPLOYED! it is a good time to send your college educated kid with a engineering degree to haliburton in houston to get a great paying job. fact3 even very smart oil men, like george h w bush and t boone pickens, who HAVE BEEN DRILLING HERE AND DRILLING NOW FOR FIFTY YEARS, AND ARE STILL DRILLING HERE AND DRILLING NOW, know we can t drill our way out of this crisis in less than five to ten years AT BEST.
AlaRedNeck Champion Author Kansas Posts:1,233 Points:221,800 Joined:Apr 2008	Message Posted: 8/22/2008 9:18:06 AM	Ignore AlaRedNeck Report Abuse
	We are never going to get out of this mess until we stop depending on oil for our energy needs...period. As long as we ignore the fact that oil WILL eventually run out, we are just delaying the inevitable.
NavyEOD Champion Author Los Angeles Posts:2,021 Points:443,290 Joined:Jul 2007	Message Posted: 8/22/2008 9:11:14 AM	Ignore NavyEOD Report Abuse
	All the oil we need is in Purdo Bay, Alaska. Bottom Line!!!
flatcoatfun All-Star Author Orlando Posts:668 Points:200,515 Joined:Nov 2007	Message Posted: 8/22/2008 9:10:38 AM	Ignore flatcoatfun Report Abuse
	Finally - someone talking some sense!!! Lets send lots of copies of this article all over the world!!! And drill here and keep conserving - we can get out of this mess!!
niceguytx Champion Author Houston Posts:5,756 Points:1,116,720 Joined:Sep 2005	Message Posted: 8/22/2008 9:10:35 AM	Ignore niceguytx Report Abuse
	All the mergers and OPEC are keeping prices high to produce nice profits for them.
gasman50 Champion Author Portland Posts:1,363 Points:831,325 Joined:Nov 2005	Message Posted: 8/22/2008 9:10:30 AM	Ignore gasman50 Report Abuse
	Drill, drill here, drill now
LaCajunDJ Veteran Author Louisiana Posts:414 Points:95,230 Joined:Jul 2008	Message Posted: 8/22/2008 9:10:03 AM	Ignore LaCajunDJ Report Abuse
	Yeah...so what??? Old news!!
Kthyme Champion Author Fort Worth Posts:2,739 Points:888,290 Joined:Apr 2006	Message Posted: 8/22/2008 9:05:22 AM	Ignore Kthyme Report Abuse
	Picken has enough money...now he's going both ways...I call it GREED. I just know that I don't want a windmill in my front yard...I live in America...not in Europe...Drill Here...Drill Now!!! ;)
metronj Veteran Author New Jersey Posts:286 Points:122,775 Joined:Jun 2008	Message Posted: 8/22/2008 9:01:13 AM	Ignore metronj Report Abuse
	support Picken @ http://www.pickensplan.com/
DarthDadJr Veteran Author Virginia Posts:478 Points:99,155 Joined:Jul 2008	Message Posted: 8/22/2008 8:54:38 AM	Ignore DarthDadJr Report Abuse
	OK...so the point is...the world has oil...and stuff happens to affect its price. Brilliant!
CheapoBob Champion Author Alabama Posts:1,440 Points:965,185 Joined:Apr 2005	Message Posted: 8/22/2008 8:53:59 AM	Ignore CheapoBob Report Abuse
	spit in the wind can cause a disruption. crooks
slarttybartfast All-Star Author Hamilton Posts:700 Points:158,450 Joined:Jan 2007	Message Posted: 8/22/2008 8:48:17 AM	Ignore slarttybartfast Report Abuse
	its a fools paradice if they think they can drill and no spill..
spartangas Sophomore Author Lansing Posts:146 Points:63,175 Joined:Dec 2006	Message Posted: 8/22/2008 8:42:56 AM	Ignore spartangas Report Abuse
	Everyone wants to drill now, saying that the technology is there that there will be no spills on our scenic coasts. If you trust BIG OIL, just look at BP and the Alaska Pipeline that the stopped corrosion control efforts on the save a few bucks
Gerund1 Champion Author Toronto Posts:1,166 Points:830,985 Joined:Apr 2003	Message Posted: 8/22/2008 8:42:36 AM	Ignore Gerund1 Report Abuse
	I heard/watched two interviews on oil yesterday. One stated the belief that oil would drop to about $80, the second said that oil would reach $200, soon. I state that no one knows where oil is headed, except for the few major speculators who actually have a great deal of control on where the price goes. May they rot in a very special dark and uncomfortable place for eternity.
priceit Champion Author Portland Posts:8,554 Points:1,595,345 Joined:Sep 2003	Message Posted: 8/22/2008 8:42:25 AM	Ignore priceit Report Abuse
	Drill here and now and take away the power of OPEC. It is silly. In order to keep an area of the earth "pristene" we are willing to possibly put thousands of lives at risk in eventual and current wars. Sad.
oncotime Champion Author Milwaukee Posts:9,358 Points:1,666,695 Joined:May 2003	Message Posted: 8/22/2008 8:42:18 AM	Ignore oncotime Report Abuse
	keep the hummers parked
ramshot412 Champion Author Riverside Posts:12,036 Points:1,206,605 Joined:Apr 2004	Message Posted: 8/22/2008 8:41:54 AM	Ignore ramshot412 Report Abuse
	"We have enough oil in Alaska to last us 200 years, if we would just use it." What, at one gallon a day????
Dennis783 Champion Author Wisconsin Posts:5,663 Points:1,134,845 Joined:Sep 2005	Message Posted: 8/22/2008 8:36:26 AM	Ignore Dennis783 Report Abuse
	That's why we need to go after the oil that is here now and move to other sources of energy soon
irish15pilot All-Star Author Charleston Posts:575 Points:963,355 Joined:Feb 2005	Message Posted: 8/22/2008 8:35:35 AM	Ignore irish15pilot Report Abuse
	Eaglev has a very good point.
SLAPSHOT351 Veteran Author Long Island Posts:413 Points:85,540 Joined:Jul 2008	Message Posted: 8/22/2008 8:35:14 AM	Ignore SLAPSHOT351 Report Abuse
	Can some politician grow a set of balls and just start the drilling in the U.S already. We have more than enough oil in our own country to supply ourselves for at least one hundred years or so. Enough with dealing and depending on foreign oil. This is what happens when our country farms out all of the work we used to do in this country and let foreign countries do it for us because labor is cheaper. It's costing everyone more in the long run, including all the companies that are saving on labor.
throttle Champion Author Maryland Posts:4,645 Points:1,033,725 Joined:Jul 2004	Message Posted: 8/22/2008 8:35:03 AM	Ignore throttle Report Abuse
	Drill now, conserve, develop alternate souces, and be suspicious of the self-serving pronouncements of both political parties.
esquared Champion Author Oklahoma City Posts:1,458 Points:641,745 Joined:Jan 2006	Message Posted: 8/22/2008 8:32:51 AM	Ignore esquared Report Abuse
	Puh-LEEZE, folks: the federal government has already auctioned off 15 MILLION acres of off-shore lands with proven reserves into which oil companies have yet to sink a single well.
napermike79 All-Star Author Twin Cities Posts:640 Points:401,550 Joined:May 2001	Message Posted: 8/22/2008 8:31:36 AM	Ignore napermike79 Report Abuse
	Drill here now
RC_RACER Champion Author Tacoma Posts:1,284 Points:278,375 Joined:Jun 2004	Message Posted: 8/22/2008 8:28:57 AM	Ignore RC_RACER Report Abuse
	I totally agree with eaglev, well said.
Gassie1 Champion Author Akron Posts:4,458 Points:576,760 Joined:Apr 2007	Message Posted: 8/22/2008 8:27:20 AM	Ignore Gassie1 Report Abuse
	Good let's drill and suck it out
eaglev Champion Author Oklahoma City Posts:1,038 Points:344,045 Joined:Jul 2005	Message Posted: 8/22/2008 8:25:49 AM	Ignore eaglev Report Abuse
	What we need is to drill for our own oil. Alternative sources will come, but we cannot let other countries dictate our future.
Pseudorious Veteran Author Philadelphia Posts:499 Points:225,875 Joined:Sep 2005	Message Posted: 8/22/2008 8:24:43 AM	Ignore Pseudorious Report Abuse
	Oil in the ground is not the issue. Oil for sale is.
Don20 Champion Author Oklahoma City Posts:1,587 Points:1,025,670 Joined:Mar 2005	Message Posted: 8/22/2008 8:23:26 AM	Ignore Don20 Report Abuse
	We have enough oil in Alaska to last us 200 years, if we would just use it..
bluebird1 Champion Author Toronto Posts:7,415 Points:1,510,525 Joined:May 2004	Message Posted: 8/22/2008 8:20:59 AM	Ignore bluebird1 Report Abuse
	A lot of the cleaner/accessible oil though is falling, leaving what's left more expensive...unless protection rules change.
tobasco Champion Author Los Angeles Posts:3,164 Points:842,570 Joined:Mar 2004	Message Posted: 8/22/2008 8:19:06 AM	Ignore tobasco Report Abuse
	Wait...the NYT said there was no more oil...
Chazzer Champion Author Nevada Posts:8,137 Points:1,740,610 Joined:May 2002	Message Posted: 8/22/2008 8:18:19 AM	Ignore Chazzer Report Abuse
	Everybody, let's get to drilling!
The_WB Champion Author Detroit Posts:4,659 Points:490,875 Joined:Apr 2007	Message Posted: 8/22/2008 8:17:39 AM	Ignore The_WB Report Abuse
	All greed
ScottE Champion Author Los Angeles Posts:2,846 Points:891,080 Joined:May 2002	Message Posted: 8/22/2008 8:13:04 AM	Ignore ScottE Report Abuse
	TRY USING THE WORD INFINITE THERE TOMOK. HOW ABOUT AMERICAN SPRINTING KNUCKLEHEADS LEARNING HOW TO PAss the Baton!~!*?^.
evasilion All-Star Author Virginia Beach Posts:701 Points:132,320 Joined:Mar 2008	Message Posted: 8/22/2008 8:10:25 AM	Ignore evasilion Report Abuse
	"could see us through". Too bad it doesn't say "will see us through".
lucky69 All-Star Author Austin Posts:651 Points:173,635 Joined:May 2008	Message Posted: 8/22/2008 8:08:33 AM	Ignore lucky69 Report Abuse
	Then prices shouldn't be going up.
tbybee Veteran Author Omaha Posts:327 Points:114,650 Joined:Apr 2008	Message Posted: 8/22/2008 8:02:48 AM	Ignore tbybee Report Abuse
	Sure, but will they share??
crbTX Sophomore Author Houston Posts:185 Points:43,580 Joined:Mar 2008	Message Posted: 8/22/2008 7:59:53 AM	Ignore crbTX Report Abuse
	Another day more news no change.