Obama: Offshore drilling will not lower gas prices this year, next year or 5 years from now

redviking · 07-06-2008, 08:25 AM

Originally Posted by Cyclone85

Well, there have been thousands studying this for decades and there are a goodly proportion that do not believe the theory anymore than man-made global warming. Peak oil is only a theory.......

Again, we've only scratched the surface of the earth so far. If you lined up *all* of the oil rigs ever made in the ocean (in a square), and then viewed the ocean from high up....all you see is ocean and no rigs. The rigs represent the head of a pin.

Here is the problem with that. Most of the oil that is left is extremely hard to get at, and requires more energy to access and extract than what is produced. Your analogy is not practical - drilling through thousands of feet of water and then trying to extract oil out of basalt rock. It takes certain geologic conditions for oil to be in concentrations that are economical to extract. It isn't like water where you can drill anywhere and find it.

Peak oil is pretty widely accepted. There are differing opinions on when it is going to occur, of course. However, it is not a "fringe theory" at all.

No need to discuss global warming. I don't really believe in that and don't care too much about it anyway. I live in WI and would actually welcome some warmer weather, especially after last winter.

Big · 07-06-2008, 08:26 AM

Originally Posted by Cyclone85

Well, there have been thousands studying this for decades and there are a goodly proportion that do not believe the theory anymore than man-made global warming. Peak oil is only a theory.......

Again, we've only scratched the surface of the earth so far. If you lined up *all* of the oil rigs ever made in the ocean (in a square), and then viewed the ocean from high up....all you see is ocean and no rigs. The rigs represent the head of a pin.

Drilling in the ocean is also very expensive. It is much more expensive than scooping it in the Middle East for example.

Cyclone85 · 07-06-2008, 10:19 AM

lol. I'm not making the companies do it! State oil and private oil companies are the ones making these monster finds 20,000 feet down. There are rigs in the Gulf pumping oil today at ultra-deep depths too. When oil is >+ $80 / barrel -- pretty much anything goes and that includes tar sand too.

Do you honestly think state and private oil companies would be drilling @ those depths if they didn't think they could make money?

Originally Posted by redviking

Here is the problem with that. Most of the oil that is left is extremely hard to get at, and requires more energy to access and extract than what is produced. Your analogy is not practical - drilling through thousands of feet of water and then trying to extract oil out of basalt rock. It takes certain geologic conditions for oil to be in concentrations that are economical to extract. It isn't like water where you can drill anywhere and find it.

Peak oil is pretty widely accepted. There are differing opinions on when it is going to occur, of course. However, it is not a "fringe theory" at all.

No need to discuss global warming. I don't really believe in that and don't care too much about it anyway. I live in WI and would actually welcome some warmer weather, especially after last winter.

Big · 07-06-2008, 10:25 AM

Small scale ocean drilling might be profitable but on a large scale it is definitely not. You set up all the heavy machinery only to see it dry up quickly.

redviking · 07-06-2008, 10:37 AM

I pretty much agree with Big. The drilling that is already being done is a moot point. I thought you were talking about extra capacity that we have to drill. There is a huge difference between drilling on the Gulf Coast and drilling in the middle of the ocean.

Secondly, you may not understand how this drilling works. You aren't just extracting the oil below you when you drill. You take it from a regional area. Therefore, adding a bunch of drill rigs to a small area won't help you extract more oil - it will just help you do it quicker.

The tar sands are already being developed.

Cyclone85 · 07-06-2008, 10:48 AM

This is too much. You let the companies and the free market determine that. Two guys on a wrestling forum are in no position to make that call.

Originally Posted by redviking

I pretty much agree with Big. The drilling that is already being done is a moot point. I thought you were talking about extra capacity that we have to drill. There is a huge difference between drilling on the Gulf Coast and drilling in the middle of the ocean.

Secondly, you may not understand how this drilling works. You aren't just extracting the oil below you when you drill. You take it from a regional area. Therefore, adding a bunch of drill rigs to a small area won't help you extract more oil - it will just help you do it quicker.

The tar sands are already being developed.

redviking · 07-06-2008, 10:53 AM

Originally Posted by Cyclone85

This is too much. You let the companies and the free market determine that. Two guys on a wrestling forum are in no position to make that call.

The free market isn't perfect, particularly when you are dealing with a finite resource. In fact, the limited oil supplies is a reason that more drilling isn't being done. Nations and companies see the oil prices going up and ask "why should I drill it now when I can get more for it in a few years"? I can see why entities are hoarding the oil.

hardcore · 07-06-2008, 11:01 AM

Gloom and Doom!

This article was published in the august 1936 edition of Inventions magazine.The same scare tactics about the depletion of the worlds oil reserves and here we are 72 years later and guess what? It was not the end of the world back then and it is not the end of the world now.
Just a little perspective check.
My garden beckons...later.

redviking · 07-06-2008, 11:13 AM

First of all, yes, Peak Oil was predicted decades ago. Few if any said we were at Peak Oil at the time (1936 or whatever) and few knew exactly when it would happen. Most knew that it would happen eventually though. I think we are pretty much there or knocking on the door.

Big · 07-06-2008, 11:15 AM

That's because back then most of the oil fields were not developed in the Middle East yet. Back then the reason was a lack of development whereas now it is a lack of accessible reserves.

Obama: Offshore drilling will not lower gas prices this year, next year or 5 years from now

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