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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times | Debt Rattle Apr 9 2014: The Great Unwashed American Energy Independence |
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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times |
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,103
Liked: 2456 times | SRSRocco has posted quite a bit about the economics on shale oil. It doesn't look sustainable.
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug |
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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times | Yeah, only about 20 billion barrels of oil with todays technology, we probably should just abandon it since it will run out in the next 20-50-100 years. Oh and burning off over a billion dollars worth of nat gas every year makes more sense than building a pipeline and/or adding rail capacity.
__________________ https://videos.utahgunexchange.com/@11C1P Last edited by 11C1P; 04-17-2014 at 12:49 PM. |
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Ground Beetle Join Date: Oct 2011 Location: Here, There, and Everywhere
Posts: 633
Liked: 388 times | Wasting the energy does not make sense. Even if it is not cost-effective to export it, just getting it to local markets, many of which rely on imported energy, would increase the worldwide total energy supply thereby driving worldwide prices down. In addition, it would lessen our need for imported energy leaving more available for foreign nations to fight over and Putin with a smaller carrot and stick. Of course, the environuts would rather burn the NG than increasing capacity and employment to move it where it can be used. Talk about cutting your nose off to spite your face!
__________________ If you keep doing what you are doing, You will keep getting what you are getting. If you don't like what you are getting, You must change what you are doing. http://mmerlinn.com GOLD is the money of KINGS. SILVER is the money of GENTLEMEN. BARTER is the money of PEASANTS. DEBT is the money of SLAVES. - Norm Franz |
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PM Bug Supporter ![]() Join Date: Oct 2011 Location: SE USA
Posts: 1,275
Liked: 691 times | ... US energy supplies is a big subject, and I do not pretend to have the answers. But, clearly raising US oil and gas production is part of the equation, I do not see how we can be serious about our energy future without working on all fronts of the energy industry. *** And I just saw that ex-President Jimmy Carter (and "other Nobel Laureates") have asked our current Nobel Peace Prize President to stop the Keystone XL pipeline... Link for those who might think "I lie!" and/or who have a strong stomach...: http://www.cbc.ca/news/business/jimm...tion-1.2612326 *** Keep stacking. |
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Yellow Jacket Join Date: Nov 2011 Location: off world
Posts: 2,001
Liked: 883 times |
Why did Exxon and Shell pull out ? Its easy to claim numbers in the ground ..........
__________________ if it cant be done with a digger .... it cant be done | |
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times |
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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times |
__________________ https://videos.utahgunexchange.com/@11C1P | |
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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times | LOL, here's the chief kid with the fingers in the ears. After getting so embarrassed in the other thread you had to start another thread to try and figure out what you were going to deny next. First you said it was "science" that it was impossible to ship nat gas via ships. Then you said it was too hard to come up with the technology even if it was scientifically possible. Then you said it just wasn't profitable enough for your tastes, so these companies shouldn't attempt it, even though they have been doing it for decades. I don't know how many times I can keep telling you science deniers that it IS possible and it IS profitable, especially if the GOVT. and the enviro-wackos get out of the way. After umpteen times it's clear you just can't accept reality and/or are a big govt. enviro-wacko yourself.
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times |
"There is a principle which is a bar against all information, which is proof against all arguments, and which cannot fail to keep a man in everlasting ignorance—that principle is contempt prior to investigation." | |
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times |
I am 55 years old. When I was twenty, the world population was estimated to be somewhere around 4.5 billion people. Now it is over 7 billion, thirty years later. In a world of rapidly dwindling resources, how much longer do you think we can continue this growth? As near as I can tell, it seems you think that if only (fill in the blank) will get out of the way, then we can restore the massive levels of production and consumption this country has known before.... (which is why I refer to people with this mindset as cornacopians). | |
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times |
https://en.wikipedia.org/wiki/Peak_oil most Americans think oil will continue to come out of the ground forever. moving natural gas to Europe and around the United States are two different cats. | |
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times | forwarded this thread to my friend who's been mudlogging gas wells the last ten years, here's his response: If we send all our NG to Europe, won't that leave us a little short? This well I'm on in the Cook Inlet is a total fiasco. The rig generators aren't big enough to drill, so they're using a very long extension cord to 2 power plants on shore. Only problem is they can't handle the load either. These guys are hemmoraging Cash Big Time. Company Man says This Rig's Record is 300 days ... to drill one 14,000 foot hole, that didn't make a well. The part of the inlet that we're drilling in is a old flood plain ./ river channel.. think Mississippi Delta with shifting sand, silt ect. ... unpredictable ... so it's a crap shoot ... drill and hope you get lucky ... with Megabucks on the line on every roll ... It's all smoke and mirrors ... a bubble just like everything else. Milk investors for every dime, then fold the tent and move on. I'm guessing the ND guy doesn't actually Work in the Oilfield ??? he's hoping to get two more years work before it all collapses. |
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Yellow Jacket Join Date: Nov 2011 Location: off world
Posts: 2,001
Liked: 883 times | We have to be careful this discussion doesnt become a dumb shouting match. I do not know what the truth is regarding oil availability going forward, so I try to read articles by people like Rune Likvern who closely follows Bakken oil activity e.g. - http://fractionalflow.com/2013/12/23...kenzie-county/ Clearly as long as there is drilling there will be something coming out but if it costs a dollar to recover a dollars worth of energy then having lots of oil /gas in the ground is no real benefit. Could we perhaps step back from shouting what are, in the end, no more than opinions ?
__________________ if it cant be done with a digger .... it cant be done |
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times | Yep, I'm done. I don't even care how much oil or gas there is. We had a wonderful Easter egg hunt, a zillion little kids and a lot of good food. Happy Easter everyone. |
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,103
Liked: 2456 times |
From January: Quote :
More recently: Quote :
You can find the current price here (looks like we're right at [just above] the $4.50 mark right now): http://www.eia.gov/naturalgas/weekly/#jm-prices
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug | |||
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