Hey, Let’s Tap Into the Strategic Petroleum Reserve! (Wrong!!Drill, And Drill Now!!!)

Hot Air Green Room ^ | March 6, 2011 | Jazz Shaw

[org.whodat]

With the same number of wells pumping the same amount of oil over two years it will decline, now that is fuzzy math.

[epithermal]

Oil fields are finite:

Gary Long, a petroleum engineer for EIA in Dallas, said the forecast declines are based on a range of factors including the moratorium, declining rates on older production, prospects for new production from current drilling and assessments of a couple of larger fields in the Gulf.

[org.whodat]

It does not matter who does it, blowing smoke up your a** is blowing smoke up your ass. And it is nothing more than BS. During my entire life the amount of known oil has increase, and there has always been more supply than demand, except when the supply was being manipulated. Big oil trying daily to drive their agenda to increase their income.

[epithermal]

I find that hard to believe because why would they be drilling in the deep Gulf if their supply would meet the demand? Here are the official production numbers from the Gulf:

http://www.eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFP3FM2&f=M

[org.whodat]

Never said that, and don’t know who did. So what difference does it make. I said the a holes claim the four thousand wells drilled in ND have had no impact on supply. If that is true someone is full of it.

[epithermal]

Not to be argumentative, because I am interested in your view, there has been increased production in North Dakota:

But it has not replaced the major drop in production from offshore sources caused by the drilling moratorium:

You can see all the production figures here:

http://www.eia.doe.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_m.htm

[org.whodat]

So what, saying it has not replaced is fantasy land bs of the highest order. Nothing but spin. That bogus crap would do the global warming crowd proud. Compairing actual production to somones made up estimate . Any new drilling would be an add to not replace. The damn oil companies are liars of the first order. If they are so damn good at forecast and estimate that should have got out their magic ball and told BP their well was going to blow.