JayS, do you have a link to that quote? I would like to read it. Thanks.
http://ostseis.anl.gov/guide/tarsands/index.cfm
You’ll see a lot of money going into research on how to extract that, especially if oil says above $80/barrel which I think it will for a very long time.
And this is my problem with “peak oil theory”. Most of stuff that says we’re near peak only looks at current technology and recovery methods. They don’t consider tar sands, deep ocean drilling, CO2 injection etc etc.
The big up side to 100+/barrel oil is the huge amount of money to be made finding new oil. @$30/barrel no one would invest in figuring out how to extra the oil from the tar sands, or drill deep in the ocean. At $140/barrel they’re pouring money into this research.
I didn’t quote anything from them though. Anyway:
no, I was talking about the sand oils. Thank you very much I have never heard any of that. You may have just changed my opinion on that subject.
Alberta estimated that the Athabasca deposits alone contain 35 billion barrels (5.6×109 m3) of surface mineable bitumen and 98 billion barrels (15.6×109 m3) of bitumen recoverable by in-situ methods
well, not nearly that much is currently recoverable, but hopefully in the future it will be.
Yeah, they say only about 10% was recoverable @$62/barrel. Now that it’s $140 I’m sure that number goes up. And with each year of new investment I’m sure that number goes up too.
The days of drilling a 100 foot well and pumping out oil are coming to an end. The days of $20/barrel oil have also come to an end. If you believe that’s the only oil the planet has then we’re probably at peak oil. That really isn’t the case though.
It actually works out quite well though. There’s enough harder to reach oil to get us through until we find a replacement, but it’s hard enough to get that it forces us to really start looking for that replacement. It still doesn’t warrant oil over $100/barrel though.
President Bush will lift executive ban on offshore drilling, the White House says.
:tup:
:lolno:
http://www.cnn.com/2008/POLITICS/07/14/bush.offshore/index.html
WASHINGTON (CNN) – President Bush lifted an executive order banning offshore oil drilling on Monday and urged Congress to follow suit…
Reid rejects Bush call to lift drilling moratorium
wow, maybe he needs to come to Buffalo and work with our politicans, he’d fit right in.
:picard:
I just wanted to mention the show the other night with Jim Kramer on NBC.
When asked about gas prices, the very first words our of his mouth were India and China.
It is not just this looney old man saying it, there are also respected financial people saying it.
The media only blames Bush(war) and speculators, there is more to it than just that kiddies.
That is all.(for now)
Psh. Supply and demand has nothing to do with the price of oil.
Anyhow.
I will see the end of oil in my lifetime.
I’m going to quote this right before Al Gore turns off the internet amidst the anarchy of an unindustrializing society.
Or maybe I’ll quote it someday amidst the age of Aquarius when everything runs sunshine and rainbows.
You’re not really the only one, fwiw. I’ve been calling out China & India by name for at least two years now.
:sario:
Oil prices tumble more than $10
WAT? Shit just dropped $6 bucks in 10 minutes?
question, which price should I be looking at from this, http://www.bloomberg.com/markets/commodities/energyprices.html
there are 3 different prices