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Drilling American Oil?

D

Dave in GA

Member
There"s been a lot of debate again about drilling our own oil in the Gulf and elsewhere in the U.S.A. to reduce our dependence on imports, and that drilling our own oil will reduce prices at the pumps. But this brings up a serious question. What if we were to pump a lot more oil out of our domestic lands, telling the premier oil nations to "get lost, we don"t need you?" What if our wells run dry in 5, 10, or 15 years? Then we"re COMPLETELY at the mercy of the foreigners, and they would know we"re totally dependent on them. We would have no negotiating power, and they"d have us down for the count. When I was a child, we pumped lots of oil in Texas and CA, and the experts said that the oil was so plentiful, there was no end in sight. But it didn"t take long before they dried up. What if we pumped the oil deposits in the gulf dry, too? Not only would we be out of domestic oil, but our adversaries would be drooling over what they could do to us. Wouldn"t it be wiser to leave our own oil deposits intact for a real crisis, such as an oil embargo? I"m no expert on oil drilling and international politics, but maybe some of you are. It seems to me that as long as we can obtain oil from the rest of the world at affordable prices (whatever that means, another issue for debate), then shouldn"t we leave our precious supply alone for a truly rainy day? And yes, this is tractor-related, as we all need gas, diesel, and various oils for our machines.
 
What if they came up with a battery that would a charge and electric cars became the standard mode of transportation for city dwellers. What if they came up with a farm sized oil press so the individual farmer could supply his own fuel needs. What if we expanded our wind energy to homestead size and made it affordable. To much stuff for me to worry about but i do know 1 thing. as long as we think oil is our own source of energy we will always be at the mercy of "those guys" be they foreign or be they our own people that own the oil companies. there is so much room for expanding our technology it's ridiculous but we will never do it when it always has to be so "big" that it will feed the world. nobody knows how to clean up their own backyard anymore.
 
It does not matter if we even flood the market! Oil is traded on a global scale if the yahoo"s on wall street think it should be priced at $200 a barrel because the Ayatollah in Iran has the sniffles and might sneeze on an oil rig and all the workers get the flu so be it! Its $200 a barrel. The world has been running out of oil for decades! Why are we still pumping? Those wells you deemed dry may now have oil in them once again since they have been idle for many years. Besides another way to look at this is currently we are producing ethanol and bio diesel. It would not take too much more to convert us over to 100% ethanol and bio diesel nation. With all the money our president is wasting on other trivial items he could be helping to curb our oil dependence to something a little more stable and we know. I will say this in a way the US is very smart for using the worlds oil up before their own. Its just at a cost to us Americans that I believe has reached the threshold and we need to seriously look in another direction. Energy policies from the past 50 years will simply not cut it here in 2011 anymore!
 
I saw something recently that the north slope of Alaska has more oil than Saudi Arabia, and I have heard that the tar sands of Alberta, Canada can produce more oil than Saudi Arabia too! And they are doing lots of successful drilling in North Dakota. But I agree, we should use Middle eastern oil first, as long as we can buy it at a good price, witch is why we started using it years ago, it was cheap!
 
Just for what it's worth, my farm is on US83 and I see a LOT of heavy oilfield equipment going north. Every day. They ARE doing a lot of drilling in North Dakota
 
High oil prices are actually kind of a good short term thing, it stimulates growth in other energy sources which long term can lead to lower prices.

5 big wind turbines have gone up this year in my area. Most of our electricity comes from oil burning plants. Good to see some of that coming in.
 
The problem with electric cars is that the one in charge said he would make it so expensive to build new power plants that nobody would even try. So let's increase our electric use, but not increase our supply. I see a problem with that. I really have my doubts that solar and wind will make up the difference. I read an article the other day that the much bragged about Volt would only go 28 miles on a charge in cold weather. That severely limits it's use in the cold climates.
 
Oil will not stay above $80 per barrel for "long". It might stay there for 6 months to a year but no longer than that.

The US 5 times the oil in the tar sands than the entire Middle East has but it costs about $80 a barrel to extract it. OPEC knows this and will drop the price everytime the US gets serious about tapping that resource. After a year of high prices they'll roll the price back and count their profits. Meanwhile anyone that spent money to extract oil from sand tar will go broke competing against cheap imported oil.
 
I don't think thats entirely true, if we could flood the market with oil the price would force lower and be more stable because it would be coming from a stable source.
You're right it could still force higher, say the big flood of oil came from Alaska, then pipeline issues would become a concern. If it came from the gulf then gulf weather issues would influence prices.
A large increase in North American supply would force prices lower though, theres no doubt about that.

That said it would take YEARS for that to happen. Even if we could start 100 holes a day right now (which we can't, it takes time to setup) it'd take days to drill the holes, and then even more time to setup pumps etc.

Finally I think you're right, pull oil from elsewhere first, and incidentally let them develop the technology, and then worry about our supply.
 
How do you figure if we flood the market prices will go down? The jockeys that run the oil show have done this to us for how many years now? Think really hard and read the news they think an ideal price is between $70 and $80 a barrel. With that in mind if the US were to flood the market it would be temporary at best because these oil jockeys called opec will drop production so they are at their target of $70-$80 per barrel!
 
"Helms said the state currently is pumping about 350,000 barrels of crude per day and was on pace to produce about 110 million barrels in 2010, up from 79.7 million last year and more than double the amount produced less than three years ago.

Record rig activity pushed by strong crude prices and refinements in drilling technology could result in North Dakota seeing a twofold increase in production. The drilling technology alone has cut the amount of time needed to complete a well from 65 days in 2008 to about 25 days.

"We are now looking at the possibility of 700,000 barrels a day and we see that coming in the next four to seven years," Helms said.

At that rate, North Dakota would surpass California and Alaska based on those states' current production, said Steven Grape, the domestic reserves project manager for the U.S. Department of Energy's information administration."
Lots of the stuff
 
Middle east oil imports? Not much goes to US from middle east. Look north to Canada for 20% of US oil, look south to Mexico for about 10-12%. Nigeria and Chavez Socialist Republic that own Citgo supply 8-9% each. North Africa/Middle East supply US with 1-3% total for the about 1/2 of US oil needs. Italy is really hurting with Lybian oil stopping- they get 1/3 to 2/3rds (stats vary depending on source) of their oil needs from Lybia. Dakota oil fields using new "fracturing" procedure getting a 20%-30% boost in yield- the previous estimate was it would give 5-8% greater yield so investvents from past 5 years in doing the fracture and float paying off triple. This about makes up for the Europeans buying Nigerian and Algerian oil that would have gone to US before Lybian unrest. Amish still not worried about oil embargoes or short range batteries- Horses and oxen can be fueled with ditchweeds in summer, corn stalks and hay in winter. RN
 
Any wells going in around you, Bob? I know that when we sold the farm a couple years ago we retained mineral rights for (I think) 5 years. We don't really expect them to get that far east, though, so I don't expect to see anything from it.
 
You can't imagin the changes in battery technology that are coming. What could reduce your dependance on your local energy provider, and on foreign oil more than producing your own energy with the sun, wind, or a stream, (free fuel) if you have a sufficient source of one or combination of them on your property. Just think!, Solar on your roof, or a residential wind turbine, or Hydro turbine in your back yard,suppling a portion of, or all of your electric needs.
The best money you that you DON"T have to spend is to reduce your consumption by cutting back on waste, and we All CAN do that. If everyone lived smarter we would have far less dependance on foreign oil.
The thickness of our wallets seem to dictate our willingness, or lack of, to conserve, and invest in renewables. How can You reduce your energy consumption? May be as simple as turning lights of behind yourself or making fewer trips into town. I can go on and on about things Americans could do, but don't!
PS to keep this tractor related, How many gals. of gas and diesel do we tractor guys consume anually to transport our "toys" to shows and tractor rides, and what usefull purpose does this serve, other than making us feel good. I plead guilty to this, but my sun and I are taking a close look at this years plans.
 
Imagine a battery that's so efficient that electric cars are practical. That would mean that we're no longer beholden to the Arabs. We'd be beholden to the Chinese that control 95% of the rare earth materials!
 
If the USA really extracted our own oil from the main sources, Texas, Alaska, the Dakotas and the waters off the California coasts then we may get oil down in price. But the Saudi oil is the most ideal for refining into gasoline and diesel fuel, I have read this.
I agree with you to a point about using up the Arabs oil first but then you are at the whims of these wack jobs.
I think that the USA has about 6% of the worlds oil reserves. And we have the most coal reserves, something like 250 year supply at current usage rates.
 
You know that oil companies live on greed and greed only. Why would they lower prices when everyone is paying. There is no supply and demand anymore. If that was true we would be paying a more like a dollar a gallon. N.D., Mont. and Canada sands have more oil reserves right now than all ofasian counties together, Plus this is what they call sweet oil which means a lot less refining process. And they think there is more oil then thay have found so far including the mountains of Montana.
 
Lots of equipment coming here. I think the last count was around 172 wells being drilled right now. And that is increasing every day. And along with this oil comes the very big problem of them completely ruining the roads. So far the state has been very slow in reimbursing tyhe counties and townships. So guess what? The roads are deteriated so bad the local farmers can't use them. AND ALOT OF THEM DON'T HAVE OIL WELLS SO THEY ARE SUCKING HIND SO AND SO.
 
Look at the cycle oil prices take. I predict they will go up before the next election and then come back down. Gas prices seem to jump just before a holiday and most of the time on Thursday. Gas prices jump $.19-$.25 and decline $.01-$.02. Some think the oil companies cause prices to jump, I think it's the profit takers on Wall Street pulling our chain. Some think the oil companies are bad for making a profit, when your state and federal governments are making more in taxes than the oil companies make in profit.

Gas prices, sports and weather seem to give people something to talk about.

Hope I live long enough to see this country become energy independent. If you recall, we were going to be after the first oil embargo in the early 70's.

That's my 2 cents worth.
 
Many scientists now believe the earth is constantly making more oil. The deposits in west North Dakota have been dramatically undersestimated and are now believed to be in the one trillion barrel range. We have plenty of oil. We need additional refining capacity and much more domestic exploration.

Looks like the trucking industry may be making a huge turn toward natural gas for over the road trucks in comming years.

Lots of oil, no man made global weather crisis, we just need to tell the Greenies to get lost and leave us alone.
 
The key word is "believed" to be. Nothing proven.
the USGS article said undiscovered reserves. Undiscovered reserves?
 
Unfortunately you are wrong about several things. Please read up on tar sands/oil shale and world demand......Goole is your best friend...
 
I heard on the radio that all of the oil that comes out of the gulf does not come to the U.S. market exclusively and that alot of it goes out on the world market and gets sold to foreign countries or the highest bidder.Is this true?Would it not make sense to require that the oil comes to the U.S. if a permit is granted to drill in our waters.I suppose the big money guys would just buy their way around it anyway but it seems like it would help us control prices a little better,and let other countries fight over that mid-eastern oil.just my 2 cents
 
I am like you, drill and cap our resorces.

We all have the mind set that if we drill on our soil everything will be ours. So the same logic would somehow apply to the Alaskan pipe line project that was built several years ago. My research shows far different results, but as usual, who can you believe as it is all motivated by two parties and big oil that owns our government.

I'm big into wind power, not that it is a cure, but it is hard to sell it over seas. If all the government oil subsities was directed towards wind, and solar we could perhaps cut the dependancy a wee bit. But to think the big guys will not own the power grid is probably like thinking the Dalas Cowboy cheerleaders will discover me real soon.
 
I think there"s all kinds of oil too, the publics been played for the last fifty years. New refineries aren"t built to keep prices artificially high. What major business shuts down for maintenance, airplanes have regular maintenance but they never say we"re not flying today. Oils been stock piled for the last year because nobody was using it, but now there"s a shortage.
 
It's not the amount of oil available that is driving the price up. It is investors in the futures that are doing it. Remember last time when Morgan Stanley owned more oil than some of the oil companies. It is you pension funds and retirement funds that are pushing it up.
 
There is an 18 year high supply of oil right now. There is a show,this week,every night on MSNBC called the Ed Show with Ed Shultz.They tell about whats wrong with the price and it has nothing at all to do with whats going on in Libya.The Speculators run the price of oil up all the time and they use something like Libya as an excuse. You can go to Ed Shultz, MSNBC website and there are videos of the segment that is about energy or high commodities prices and why they are that way.
Right now,the nnalert already passed laws to make speculators stop doing this stuff.However the head of the trade commission doesn't think speculators are causing it,and wont enact the laws.He is a Bush Appointee.His term is up in June.external_link has to appoint a new one and if the new one is for enacting the laws,this stuff should stop.external_link has been real friendly with Wall Street,so nobody knows how he is going to do on this.He better put somebody in to stop this from happening or he might not get elected again if the people find out.So far it sounds like it might go either way.So watch this close.
There are other reasons,but its all because of crooked dealings and Wall Street.
Of course this will probably get poofed.You aren't supposed to know this stuff I guess.This time if they poof it,I will put it up again with a link to the video.
 
The only reason they "think" that oil ought to be 70 or 80 dollars a barrel is because it costs about 60 dollars a barrel to get oil out of those sands in Canada and they want us to have to pay for it. We have a lot of oil that better,easier and cheaper to get than messing with the oil sand crap.Of course as long as they can lie and get away with fooling the people they will.
 
I know this, they'll never legislate cheaper gas prices.

I know everybody wants some oil "boogeyman" to blame it on, but the market determines the prices, and if government would stay out of it we'd all be better off.

If government really wanted to have an effect they could slash their obscene tax rates on fuel.

I say drill here, drill now, and remove the suffocating red tape from refinery construction.

Not to mention nuclear plants. Rant off.
 
Yeah, "special" ed shultz, on the network that no one watches, has all the answers! Oh, and the answer is, of course, it's all Bush's fault. When is external_link ever going to own the fact, that he does not want domestic oil developed by American companies?
 
OFT. OIL FIELD TRASH, the people that come from somewhere else (Texas, Oklahoma) to work here. They care of nothing but the pay check ! Not only are the roads being destroyed, crime is skyrocketing, guys are abondoning families and leaving them on county welfare, their feral children are ruining the schools. Never the less, I hope they find it on my place. I could learn to farm around a oil well or 2. Sometimes I wish I was born rich instead of so darn good looking.
 
I have worked in the industry 38 years and counting and every year the USA's and the worlds actual proven reserves have increased, not decreased, much of the increase is due to technological advances, not only in reservoir recovery but in exploration and seismic discovery. Peak oil is a theory that has been totally disproved because what was known about geology and reservoir depletion in the 70's and 80's as compared to today is exactly like comparing the computer of the 70's and 80's to todays computers. The US can and should drill our way to energy independence and then use the outside oil while we ration ours, this is the exact model that kept oil at $3.00 or less per barrel from 1947 to 1972. Compare it to farming, what farmer in the 1930's would have believed 100 bushel corn, how many farmers in the 1960's would have beleived 300 bushel corn, technology and advancements in seed and fertilizers, the basic inputs, the same thing has been taking place in the oil industry. Political motivations are another thing entirely but we have not had a energy policy that puts the USA first in many years, neither party seems to get it, the same way they don't get cut the budget.
 
We need to continue to develop better wind and solar power so we can use that for heating. That way we can free up some oil from the home heating market for use elsewhere.
 
Now if only they would leave you do your job, but they will still be rideing in their big cars when we will be a walking!
 
I to have worked in the oil industry. Speculators on Wall Street and oil companies are taking advantage of a percieved instability in the Middle East to cash in and raise their profits. The CEOs just don't have enough money for their 6th house.
 
I too have worked in the oil industry. Speculators on Wall Street and oil companies are taking advantage of a percieved instability in the Middle East to cash in and raise their profits. The CEOs just don't have enough money for their 6th house.
 
Curious about the press, you would think an old rock mill wheel would work. Don't know how much oil you would get out of what at what labor.
I looked up soy oil and they don't even use a press, they use chemicals and have to remove the shells first because they absorb oil.
soy oil
 
If anybody, in any numbers liked him, he'd already have a show on Fox, not the lowest rated show on the lowest rated network!
 
Fox lies all day and you are griping about Ed Shultz who actually is reporting on something that you might be interested in. Alright keep listening to Fox then. If you cant figure it out,why should I try and help you?
 
Two weeks ago I went by a California oil patch my Father and Grandfather drilled in the 1920"s and have only been by only a few times in the sixty years and was supprised to see how many wells are still producing.
Just saying that we were going to drill would have an effect on the market/
 
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