Chevron Finds Big Oil Field

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Blood Transfusion

Postby JD » Tue Sep 05, 2006 7:52 pm

<!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>Why are Peakers so convinced there won't be more such discoveries? I'm not sure I'm real happy about digging that far under the sea with all the potential environmental disasters, but from a pure engineering standpoint, it is amazing...and probably not taken into account by past attempts to gauge world oil supplies.<hr></blockquote><!--EZCODE QUOTE END--><br><br>No question we are going in deeper water offshore than previously thought possible. This will add somewhat to the inventory of undrilled petroleum prospects, but less than one might think.<br><br>There is simply more sedimentary rock onshore. Imagine that as you go offshore there is a wedge of sedimentary material that gets progressively thinner and finder grained as you move away from the shoreline.<br><br>Accordingly, the wedge of sedimentary material is limited as you go offshore. Less sedimentary material means a smaller volume of material to trap oil in.<br><br>Yeah we've certainly pissed away the best energy source available on the planet. Going forward conservation opportunities are enormous. Think of this: Americans use 5 times as much energy as Europeans for approximately the same standard of living. <br><br>Given this fact I'm puzzled why people take Peak Oil and turn it into a doom and gloom excercise rather than practially getting on with the job of pushing out the date of its occurance as long as possible.<br><br>About 10 years ago I built some spreadsheets to look at sensitivities of peak oil and found that the biggest variable in when peak oil hit was not the reserves in place but in the growth of consumption.<br><br>If Americans could get oil consumption down to European levels; peak oil would be put off a very long time indeed.<br><br>I remember Dick Cheney saying (pre 9/11) that in response to energy prices going up he wasn't going to ask Americans to stop driving their SUV's (I can't find the actual quote) which at the time I thought was a baffling comment.<br><br>I mean, knowing the American dependance on imported oil, wouldn't a smart geopolitical player want to decrease the dependance of the American economy on imports? Wouldn't a smart economic player want to reduce the American trade deficit by reducing oil imports?<br><br>I also remember just after 9/11 when there was concern that consumers would stop spending a gal paraded on TV proudly stating she'd just bought a new Toyota Four Runner to help with the economy, that she was "doing her part".<br><br>Again at the time I found this baffling.<br><br>Now I'm starting to wonder if it is American geopolitical strategy to consume as much oil as possible to deny its use in the future to other people?<br><br>Bizarre strategy; I can see hoarding it or controlling the sources to deny it to competitors, but to USE it in a form of denial just doesn't seem to make sense. But it certainly seems to be what is happening, and happening with official approval.<br><br><br><br><br> <p></p><i></i>
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Re: Blood Transfusion

Postby Et in Arcadia ego » Tue Sep 05, 2006 8:27 pm

<!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>Happy prospecting<hr></blockquote><!--EZCODE QUOTE END--><br><br>Anecdotal chart I whipped up a minute ago:<br><br><!--EZCODE IMAGE START--><img src="http://www.sickle666.com/images/asteroid_oil_connection.jpg" style="border:0;"/><!--EZCODE IMAGE END--><br><br>There's a few places that line up, but it's really unworkable as any kind of suggestive evidence due to the fact that(<!--EZCODE ITALIC START--><em>and only in regards to our pet theory here</em><!--EZCODE ITALIC END-->):<br><br>A - There may be large oil fields that occur naturally, or by that I mean not caused by Impacts, btu vast geological upheavals that could provide the same stress/pressure as an impact.<br><br>B - The places indicated as Impact Zones simply haven't been checked for oil, or<br><br>C - They've found more of the 'vast' regions, and are sitting on them as a means of backing down from every significantly lowering prices again..<br><br>Again, I'm just approaching this with a what-if perspective. If something like what I suggested is true, chances are good the prospecters already knew it ages ago and are hanging on to that kind of data for profit reasons. <p>____________________<br>Some are born to sweet delight, some are born to endless night.</p><i></i>
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Re: Blood Transfusion

Postby Dreams End » Tue Sep 05, 2006 9:02 pm

I think the point of the article overlooked here is that they got this oil because they did something that wasn't previously done...dug that deep and that far out. So even if this field isn't as big as hoped, I assume the new techniques will be used by others.<br><br>Meanwhile, the stock of companies which simply have rights in the same general area went up as well, so perhaps that means people think there are more fields. <br><br>JD...good points on peak doom. There was a very adament "conservation won't help us" among certain of the peak promoters...which is suggestive, I think. <br><br>And from now on, I think I'll call the Peak Oilers I have the problems with "Peak Doomers" as there's a lot of middle ground there. <p></p><i></i>
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Re: Blood Transfusion

Postby bvonahsen » Tue Sep 05, 2006 9:41 pm

<!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>Given this fact I'm puzzled why people take Peak Oil and turn it into a doom and gloom excercise rather than practially getting on with the job of pushing out the date of its occurance as long as possible.<hr></blockquote><!--EZCODE QUOTE END--><br><br>Because we know that poor folk like us will be the ones to take the brunt of it. A big plate of ham is nice for you, not so nice for the pig.<br><br>re: Cheney keeping oil prices high.<br>If you agree with <!--EZCODE LINK START--><a href="http://www.gregpalast.com/section/articles">Greg Palast</a><!--EZCODE LINK END--> the whole reason we are in the mideast is to shut down Iraq's oil fields. Keep the prices high for our masters, the Saudis.<br><br><br><!--EZCODE LINK START--><a href="http://www.gregpalast.com/big-oil-and-the-trillion-dollar-war-bonus#more-1475">Big Oil and the Trillion-Dollar War Bonus</a><!--EZCODE LINK END--><br><!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>It has been a very good war for Big Oil — courtesy of OPEC price hikes. The five oil giants saw profits rise from $34 billion in 2002 to $81 billion in 2004, year two of Iraq’s “transition to democracy.”<br><br>But this tsunami of black ink was nothing compared to the wave of $113 billion intrilliondollarbabies2 profits to come in 2005: $13.6 billion for Conoco, $14.1 billion for Chevron and the Mother of All Earnings, Exxon’s $36.1 billion.<br><br>For these record-busting earnings, the industry could thank General Tommy Franks and the troops in Baghdad, the insurgents and their oil-supply-cutting explosives. But, most of all, they had to thank OPEC and the Saudis for keeping the lid on supply even as the planet screamed in pain for crude.<br><br>When OPEC raises the price of crude, Big Oil makes out big time. The oil majors are not simply passive resellers of OPEC production. In OPEC nations, they have “profit sharing agreements” (PSAs) that give the companies a direct slice of the higher price charged.<br><br>More important, the industry has its own reserves whose value is attached, like a suckerfish, to OPEC’s price targets. Here’s a statistic you won’t see on Army recruitment posters: The rise in the price of oil after the first three years of the war boosted the value of the reserves of ExxonMobil Oil alone by just over $666 billion. (The devil is in the details.)<br><br>Smaller Chevron Oil, where Condoleezza Rice had served as a director, gained a quarter trillion dollars in value. Chevron named a tanker after Rice, but given the firm’s change in fortunes once she became National Security Advisor and then Secretary of State, they should rename the whole fleet in her honor. Altogether, I calculate that the top five oil operators saw their reserves rise in value by over $2.363 trillion.<hr></blockquote><!--EZCODE QUOTE END--><br><br>As someone else said, "This has worked out very well for them hasn't it?" <p></p><i></i>
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Re: Blood Transfusion

Postby Dreams End » Tue Sep 05, 2006 10:00 pm

bv, you seem to be contradicting yourself or maybe I'm misunderstanding. I believe Palast, but this sort of contradits the claim of Peak oil. that is, this shows a deliberate creation of a shortage to manipulate prices rather than the natural result of oil depletion.<br><br>In addition, I think you might have to add a few American oil companies on your list of "masters" which evidently now only includes the Saudi's. <br><br> <p></p><i></i>
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Re: Blood Transfusion

Postby bvonahsen » Wed Sep 06, 2006 12:01 am

Yeah, you're right I did contradict myself. I've been up and down and back and forth on peak oil. I don't know what to think really. All I know is that real or fabricated, it won't be good for most of us.<br><br>We can't use it all anyway. No more than we can use all the coal in the ground. There is enough coal to last hundreds of years but to do that would render the earth a dead cinder. Same with oil. Seems kind of pointless to worry about it to me. <p></p><i></i>
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feel the burn

Postby phineas » Wed Sep 06, 2006 1:18 am

<!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>There is enough coal to last hundreds of years but to do that would render the earth a dead cinder. Same with oil. <hr></blockquote><!--EZCODE QUOTE END--><br><br>To put it another way-<br>If increasing global warming is mostly due to fossil fuel burning, isn't the discovery of even more oil to burn <!--EZCODE ITALIC START--><em>bad</em><!--EZCODE ITALIC END--> news? <p></p><i>Edited by: <A HREF=http://p216.ezboard.com/brigorousintuition.showUserPublicProfile?gid=phineas@rigorousintuition>phineas</A> at: 9/5/06 11:25 pm<br></i>
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Re: Blood Transfusion

Postby chiggerbit » Wed Sep 06, 2006 1:20 am

Et, I think, now that I look at it, that that impact map is far, far from a complete map of impact sites. They were probably just using particular sites for that map because the effects are still so visible. Most are so old that they're buried. The reason I wondered was that there were so many impact sites missing, not that I know that much about them. Anyway, to check it out, I looked for the one here in Iowa, the Manson one, as well as for the Iowa Horst (you won't believe that oddity).<br> <br><!--EZCODE AUTOLINK START--><a href="http://www.igsb.uiowa.edu/Browse/manson99/manson.htm">www.igsb.uiowa.edu/Browse...manson.htm</a><!--EZCODE AUTOLINK END--><br><!--EZCODE AUTOLINK START--><a href="http://www.igsb.uiowa.edu/browse/rift/mrs_loc.htm">www.igsb.uiowa.edu/browse...rs_loc.htm</a><!--EZCODE AUTOLINK END--><br><!--EZCODE AUTOLINK START--><a href="http://www.igsb.uiowa.edu/browse/rift/mrs.htm">www.igsb.uiowa.edu/browse/rift/mrs.htm</a><!--EZCODE AUTOLINK END--><br><br>Sure enough, I found that Amoco had done some test drilling:<br><br><!--EZCODE AUTOLINK START--><a href="http://www.igsb.uiowa.edu/inforsch/eis_exec.htm">www.igsb.uiowa.edu/inforsch/eis_exec.htm</a><!--EZCODE AUTOLINK END--><br><br>I wish I could find a map that I saw a while ago showing the bigger impact sites. Not having any luck. But, really, it seems to be more than coincidence. Check out this impact site:<br> <br><!--EZCODE AUTOLINK START--><a href="http://volcanoes.usgs.gov/jwynn/3wabar.html">volcanoes.usgs.gov/jwynn/3wabar.html</a><!--EZCODE AUTOLINK END--><br><br>Now that I think about it, there's something in my abstract for my property back in the sixties, about having a contract to test drill for something--maybe natural gas. I'll have to dig that out. I'm quite a ways from the horst and all, but there does seem to be something interesting about the geology/geography in this area. I wish I could get a copy of that report.<br><br>I'd sure love to see that overlay again, if I can find the right map.<br> <p></p><i>Edited by: <A HREF=http://p216.ezboard.com/brigorousintuition.showUserPublicProfile?gid=chiggerbit@rigorousintuition>chiggerbit</A> at: 9/6/06 12:03 am<br></i>
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Re: Blood Transfusion

Postby Dreams End » Wed Sep 06, 2006 1:37 am

Just want to make sure people are clear...I don't encourage the use of lots of oil. This was specifically about Peak Oil type predictions. In my view, the majority of oil price increase at the moment...the VAST majority is either deliberately engineered world events (Iraq) or exploitation of natural events (Katrina (though some suspect it wasn't so natural)).<br><br>I got an email from the local peace group where an alleged progressive was DEFENDING the obscene oil profits. She chided those who would deride those profits as not understanding that such profits are determined by evil middlemen and speculators (okay, exaggerating the language but not the argument), not the benign oil companies. <br><br>This, of course, presupposes two things.<br><br>a. Oil companies do not have a major impact (overtly or covertly) on world events.<br><br>b. Oil Companies don't do things to make the speculators drive up the price of oil (i.e. float rumors of impending disasters, etc.)<br><br>And did I mention this same activist founded "Peak Oil Nashville"?<br><br>If we come to understand that there's enough oil, given moderate efforts to use alternatives (not a given, I realize) then we are left with the idea that something besides natural supply and demand is shaping oil prices. To see progressives defending oil price gouging is really a sad commentary on how screwed up politics has gotten.<br><br> <p></p><i></i>
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Re: Blood Transfusion

Postby Et in Arcadia ego » Wed Sep 06, 2006 2:34 pm

<!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>I'd sure love to see that overlay again, if I can find the right map<hr></blockquote><!--EZCODE QUOTE END--><br><br>I'll gladly produce an new overlay if you are able to find what you are looking for. Just let me know. Maybe we're onto something, eh?<br><br><!--EZCODE EMOTICON START :) --><img src=http://www.ezboard.com/images/emoticons/smile.gif ALT=":)"><!--EZCODE EMOTICON END--> <p>____________________<br>Some are born to sweet delight, some are born to endless night.</p><i></i>
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Re: Blood Transfusion

Postby chiggerbit » Wed Sep 06, 2006 4:42 pm

Is this one the same?<br><br><!--EZCODE AUTOLINK START--><a href="http://www.unb.ca/passc/ImpactDatabase/NorthAmerica.html">www.unb.ca/passc/ImpactDa...erica.html</a><!--EZCODE AUTOLINK END--><br><br>I don't think the above map includes this imact site:<br><br><!--EZCODE AUTOLINK START--><a href="http://www.newscientist.com/article.ns?id=dn2622">www.newscientist.com/arti...?id=dn2622</a><!--EZCODE AUTOLINK END--> <p></p><i>Edited by: <A HREF=http://p216.ezboard.com/brigorousintuition.showUserPublicProfile?gid=chiggerbit@rigorousintuition>chiggerbit</A> at: 9/6/06 2:55 pm<br></i>
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Re: maps

Postby Et in Arcadia ego » Wed Sep 06, 2006 5:04 pm

That one has greater resolution than the google map, so no, it's a better one. I'm trying to find a better map of US oilfields but not having much luck, but from looking at your new one, I'm not seeing a whole lot of correllary, which again, doesn't mean much either way for the reason that many of these impact sites haven't been surveyed by big Oil for various reasons.<br><br>One thing about the topic's article that makes me think is that maybe they have dozens of other 'major' locations like this already tucked away.<br><br>If they bleed these locations out slowly, like a time-release medication, they can keep themselves at the antecenter of international economics for the next couple centuries..<br><br>Isn't <!--EZCODE ITALIC START--><em>that</em><!--EZCODE ITALIC END--> an awesome thought? Where's my smiley..<br><br><!--EZCODE IMAGE START--><img src="http://www.kvraudio.com/forum/images/smiles/party.gif" style="border:0;"/><!--EZCODE IMAGE END--><br><br>There it is..<br><br>edit: best I can find for US oil fields, but I know this <!--EZCODE ITALIC START--><em>has</em><!--EZCODE ITALIC END--> to be under-represented:<br><br><!--EZCODE LINK START--><a href="http://maps.google.com/maps?q=largest%20oil%20%20fields&ndsp=18&svnum=10&hl=en&lr=&client=firefox-a&rls=org.mozilla:en-US<!--EZCODE EMOTICON START :o --><img src=http://www.ezboard.com/images/emoticons/embarassed.gif ALT=":o"><!--EZCODE EMOTICON END--> fficial&sa=N&ie=UTF-8&oe=UTF-8&tab=il">Google maps link</a><!--EZCODE LINK END--> <p>____________________<br>Some are born to sweet delight, some are born to endless night.</p><i>Edited by: <A HREF=http://p216.ezboard.com/brigorousintuition.showUserPublicProfile?gid=etinarcadiaego@rigorousintuition>et in Arcadia ego</A>  <IMG HEIGHT=10 WIDTH=10 SRC="http://www.sickle666.com/images/Arcadia.jpg" BORDER=0> at: 9/6/06 3:06 pm<br></i>
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Re: Blood Transfusion

Postby Et in Arcadia ego » Wed Sep 06, 2006 5:10 pm

<!--EZCODE QUOTE START--><blockquote><strong><em>Quote:</em></strong><hr>I don't think the above map includes this imact site:<hr></blockquote><!--EZCODE QUOTE END--><br><br><!--EZCODE AUTOLINK START--><a href="http://www.newscientist.com/article.ns?id=dn2622">www.newscientist.com/arti...?id=dn2622</a><!--EZCODE AUTOLINK END--><br><br><!--EZCODE ITALIC START--><em>"Petroleum giant BP had asked him to look at 3D seismic data from a gas field four kilometres below the North Sea. During his analysis, Allen discovered some unusual features in layers of chalk lying <!--EZCODE BOLD START--><strong>above</strong><!--EZCODE BOLD END--> the gas field, one kilometre <!--EZCODE BOLD START--><strong>beneath</strong><!--EZCODE BOLD END--> the seabed (Nature, vol 418, p 520)."</em><!--EZCODE ITALIC END--><br><br>heh...<br><br>We're gonna be rich, chiggerbit. <p>____________________<br>Some are born to sweet delight, some are born to endless night.</p><i></i>
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Re: Blood Transfusion

Postby chiggerbit » Wed Sep 06, 2006 5:21 pm

<br><!--EZCODE ITALIC START--><em>edit: best I can find for US oil fields, but I know this has to be under-represented:</em><!--EZCODE ITALIC END--><br><br><br>Ahem, that is my place. <p></p><i></i>
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Re: Blood Transfusion

Postby chiggerbit » Wed Sep 06, 2006 5:48 pm

I don't know, et, maybe we better think about this. Having all that kind of dough means we'll never know if people only love and respect us for our money. I mean, it's bad enough that I can never be sure if it's my great beauty and luscious figure, not my brilliant brain and lovely temperament that attracts so many to me. And consider this: we would become THEM-- it's a given--always worrying how to turn our millions into billions, getting all stressed out about it. But, just in case, let's keep this theory secret, ok? <p></p><i></i>
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