Oil Surges above $85/barrel
10-16-2007, 07:53 AM
#31
HOSED BY PBS AGAIN
Joined APC: Mar 2005
Posts: 1,713
From the article I posted above.
The Energy Department and private industry estimate that a trillion barrels are here in Colorado — about the same amount as the entire world's known reserves of conventional oil. The entire Green River Formation might hold as much as 2 trillion barrels.
I also read from another study not the USA today that at $25pbl it is a money maker.
The Energy Department and private industry estimate that a trillion barrels are here in Colorado — about the same amount as the entire world's known reserves of conventional oil. The entire Green River Formation might hold as much as 2 trillion barrels.
I also read from another study not the USA today that at $25pbl it is a money maker.
10-16-2007, 09:35 AM
#33
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Joined APC: Jun 2005
Position: Retired
Posts: 2,934
What did you expect with an oil man in office?
Do you even think for one second that he's not thinking about his investments? Sure, they're placed in a private trust while he's in office but I'm sure he's thinking about his portfolio. If I recall correctly, oil prices were high when his dad was in office too.
Do you even think for one second that he's not thinking about his investments? Sure, they're placed in a private trust while he's in office but I'm sure he's thinking about his portfolio. If I recall correctly, oil prices were high when his dad was in office too.
10-16-2007, 10:28 AM
#35
HOSED BY PBS AGAIN
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Posts: 1,713
What did you expect with an oil man in office?
Do you even think for one second that he's not thinking about his investments? Sure, they're placed in a private trust while he's in office but I'm sure he's thinking about his portfolio. If I recall correctly, oil prices were high when his dad was in office too.
Do you even think for one second that he's not thinking about his investments? Sure, they're placed in a private trust while he's in office but I'm sure he's thinking about his portfolio. If I recall correctly, oil prices were high when his dad was in office too.
10-16-2007, 10:45 AM
#36
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Joined APC: Jul 2006
Posts: 38
Aviation uses about 2% of the oil, ground trans is 25%, and homes use 23%. Southern Illinois has 200-300 years of coal supply. They do not want to build a coal gasification plant though. Coastal shelf has a few hundred years energy in methane ice. Liquid methane jumper to suborbital.
10-16-2007, 10:46 AM
#37
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Position: Retired
Posts: 2,934
Does anybody remember what happened during the congressional inquiry about a year ago? The oil execs basically sat there and laughed at the questions.
And before anybody thinks I'm trying to bring politics into this against forum rules, I'm sure we'd all be paying $10 for a bottle of ketchup had the other guy been elected in 2004
It's all one, big disgusting buddy system.
And before anybody thinks I'm trying to bring politics into this against forum rules, I'm sure we'd all be paying $10 for a bottle of ketchup had the other guy been elected in 2004
It's all one, big disgusting buddy system.
10-16-2007, 12:14 PM
#38
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Position: l/r
Posts: 55
Russia has access to oil development also.... I will pull up the article where Russia was told to NOT develop/produce oil I believe by OPEC. It had to do with basic supply/demand and maintaining OPEC's oil policy or OPEC quota. You control supply, you control PRICE! Why would you increase supply and charge a lower price for oil.... ALWAYS FOLLOW THE MONEY!
10-16-2007, 01:04 PM
#39
HOSED BY PBS AGAIN
Joined APC: Mar 2005
Posts: 1,713
So why aren't these oil companies using their massive profits to build more refineries? Or maybe we should just let the speculators pick up the price. This "oil boom" reminds me of the internet balloon, and the housing balloon, and we see the results of those everyday. Personally I hope all these oil companies get their come-uppance soon. I do know for a fact their employees are treated like proverbial kings...........while we all pay for it. And what's up with this "crack spread" that the airlines get to pay for with their fuel purchases????
10-16-2007, 01:16 PM
#40
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Joined APC: Jul 2007
Position: 744 CA
Posts: 4,772
ACTUALLY CHEVRON just announced a 500million dollar expansion of their gasoline refining operations near here. It will substantially increase there daily gasoline production and should be done by 2010.
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