Posted on 09/07/2005 6:50:52 PM PDT by michwm
I heard today on Hannities program an AP article about oil reserves in America being more the the Saudis!!
Can anyone point me to that direction??
I also want a bumper sticker that reads
IF YOU LOVE $3 A GALLON FOR GAS, THANK A TREE HUGGER!!
The cool part is that Shell has figured out how to extract the oil at around $30. I think they're going to do some announcement soon about their process and intentions. I personally think they're merely making a shot accross the bow of other oil produceing states that if they keep their price above $30, they'll have serious competition.
Steve forbes estimated that world price will settle around $35. Probably because of this oil shale and Shells extraction technology.
We have something like 2.5 times the total of mideast oil in Colorado, Utah, and Wyoming locked in this rock.
We'll have oil for the rest of our lives at something like the current price. Unless the greenies take over, and they're loosing momentum politically, so I don't think they will.
I looked up the article on yahoo... Study Urges Careful Oil Shale Development http://www.washingtonpost.com/wp-dyn/content/article/2005/08/31/AR2005083102119.html
Lots off the coast of California.
I didn't hear Hannity, but I strongly suspect he's referring to some recent articles about vast oil shale deposits which may now be economically viable to develop. Estimates I have seen is that the Green River corner of CO/UT/WY has 3 times the Saudi reserves, and Canada also has more than the Saudis (IF oil shale production proves economical enough). Shell Oil has a new process which they claim is very effective and will be economically viable with oil above $30 per barrel. I have seen some estimates that say Canadian companies are already producing from oil shale at $15/barrel, which would be truly great news if true. Production costs should come down with mass production and new inventions, one hopes. Of course, the Saudis and the rest of OPEC may be able to force the price back below $30 per barrel for awhile to block US energy independence, but that won't work in the long run. Also, as a matter of national security the US government should consider various measures to make imported oil a lot more expensive relative to domestic production (one of the few points on which I would support government intervention in the economy -- to reduce the outflow of our billions to the Islamo-fascists).
Understand but:
The whole idea of a business is to make a profit.
They dont just put out a lot of risk capitol without an expectation of making some money. Thats the deal.
Nothing wrong with that, in fact that is what made us the great country we are.
If Shell or anyone else who thinks they have the tech together and thinks they can retort oil shale and sell prod for $30 bbl and make a profit, like I said Get Er' Done...
Awesome link......
Should be required reading.
Thanks Much
Interesting question:
The fact that Shell announced they can and will do it indicates that the oil big wigs are getting nervous.
Maybe they are tired of having the knife at their throats or whatever.
Shell is a big player, for them to come on like this indicates a major shift.
Understand but:
Like Ma Bell, if the oil companies get TOO big the government will break them just like they did Ma Bell.
Some history:
Similiar thing happened back in the late 1800's
Standard Oil got too big for their britches and the government busted them.
The government WILL NOT ALLOW ANYONE to seriously compete with them for control.
There's BLACK GOLD in them THAR hills!
This is a real complex situation.
If we become "energy independent", then we drain our oil and the middle east keeps theirs, guaranteeing that sometime in the future we'll really be at their mercy. We need to pump their oil now, and ours later.
That said, we must have the ability to crank up our production at will. Perhaps we should have a government program to pay for the oil production equipment, maintained in place, but not pumping oil. Call it a "strategic reserve", like we pay airlines to have their aircraft ready to be taken over by the government in case of war.
As of today, the Saudis pump oil, and we print green pieces of paper in return. This gives them power. But when they spend it, it puts our greenbacks into circulation around the globe. It's no accident that much of the world economy operates on the US dollar. Those green pieces of paper need not necessarily come back to the US for redemption. As the world becomes more prosperous, those greenbacks will be tied up in assets in other places. We're almost in a situation where the US dollar is the defacto currency of the world.
That gives us power. We can control the value of the greenback by controlling how much we print. Major nations might say nasty things about us, but they know they'd not really fool with us, lest we collapse their economy via the value of the dollar.
This is about the limit of my understanding of the issue. I'm sure I'm way off base somehow, so no posters tell me I'm full of it. I don't claim to really know how all this works. Just that it's way more complicated than just "making the US energy independent". That's just one issue of a great many to think of.
Appreciate the post:
Already done, there are thousands of wells here in Texas that have been drilled, proven, then capped.
Held in reserve, just in case.
Also on the map. beleive it or not, Texas has major coal reserves, billions of tons.
Do a google of "Thurber, Texas" and see what happens!
About the only way I can respond to that is really "I dont know"
Gotta give that question some quiet thought but here's something to think about:
Maybe the government, like the oil companies, are both tired of the islamic knife at their throats.
Personally, I think that all civilized countries are just about totally pissed and are making major changes.
I truly hope so.
This what you were talking about:
Thurber: A Short History of a Texas Ghost Town
Looking over the handful of buildings left standing in Thurber today, you'd have a hard time believing it was once a thriving company town at the turn of the century and the most important mine site in Texas for 30 years. At one time a town of over 10,000 residents representing 20 nationalities, Thurber was the largest town between Fort Worth and El Paso. Now with a population of just 5, Thurber stands as a testament to the power of economics and technology to build and destroy communities.
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