Paw Paw Festus
Borger TX
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That old North sea oil field is gonna run dry any day now. Been hearing about it for years...
PayDirt
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LindsayRichards
Tavares, FL
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Quote:Preliminary estimates indicate the discovery contains between 0.5 and 1.5 MMcm of recoverable oil.
How does that translate into billions of bbls?
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Paw Paw Festus
Borger TX
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LindsayRichards wrote:Quote:Preliminary estimates indicate the discovery contains between 0.5 and 1.5 MMcm of recoverable oil.
How does that translate into billions of bbls?
MMcm = Million cubic meters.
Kinda goofy if you ask me. cm is more of a GAS measurement than an oil measurement. Oil is generally measured in Barrels throughout the world, sinse its bought and sold in US dollars BY the barrel -- all over the world.
Anyway; 42 US gallons = 1 barrel / 1 cubic meter = 264 US gallons = 6.2 barrels per cm
So, if my numbers are right,,, 1 - 1.5 MMcm = 6.2 - 9.3 million barrels of recoverable oil.
If my numbers are wrong, thats still BooCoo oil.
Now, watch some over educated educated college boy come along and tear my numbers apart..
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LindsayRichards
Tavares, FL
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I don't think that number is right as te world uses 85 million bbls a day and that would be only a could of hours worth. The reserves at ANWR in Alaska are about 8 billion bbls. Thr Chukchi Sea off of Alaska which has just been put offf limits by the President has an estimaed 20 billion bbls. The Russians have already started their drilling of that oil laden area.
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Paw Paw Festus
Borger TX
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Just like cops, never a college boy around when you need one...
My point is: (or was) that conventional wisdom says the world is running out of oil and that we have "Peaked" and yet, there are still massive discoveries coming in --- in old fields AND new fields.
1.5 BooCoo of oil discovered in a field that has been drying up for 40 years. Know what I mean?
Can you imagine what we'll find in NEW fields that HAVEN'T been drying up for 40 years? BOOOOOOOO COOOOOOOOOOOO
I wouldn't be too quick to spend a fortune on a car that runs on Bisquick. Oil's gonna be around for a long long time.
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LindsayRichards
Tavares, FL
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I agree and natural gas is still being found in huge quanities. The problem is that they both give off CO2 the gas blamed for global warming. This has recently been discovered to be a fruad with the whistleblower in the UK releasing emails and computer programs from the UN's main source of data showing how they cheated and changed the data.
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Paw Paw Festus
Borger TX
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LindsayRichards wrote:I don't think that number is right as te world uses 85 million bbls a day and that would be only a could of hours worth. The reserves at ANWR in Alaska are about 8 billion bbls. Thr Chukchi Sea off of Alaska which has just been put offf limits by the President has an estimaed 20 billion bbls. The Russians have already started their drilling of that oil laden area.
Bear in mind also, that we're only talking about one well. 6.2 - 9.3 million BRLs over the life of one well is big.
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LindsayRichards
Tavares, FL
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I guess it doesn't really matter how much is there as we are not allowed to drill and use domestic oil anyway. The recent revelations about Climategate hopefully change this.
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SRT
Head of the Lakes, MN
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LindsayRichards wrote:I guess it doesn't really matter how much is there as we are not allowed to drill and use domestic oil anyway. The recent revelations about Climategate hopefully change this.
We can only hope. Obama is still going to go and probably commit the USA to something like a carbon tax.
Hmm, just finished the Sunday paper. There was an article that Obama was going to go the the last day of the conference. It said that Obama was planning on committing the USA to an annual 10 billion dollar "fee" to help developing countries to clean up their emmissions. Just gives you a warm and fuzzy feeling....
* This post was
edited 12/06/09 09:22am by SRT *
SRT
2000 32' HR Vacationer with Banks
1998 Subaru Outback Ltd. 5 spd
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Paw Paw Festus
Borger TX
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Here's another article from the same mag that compliments the story of oil production increases. I don't know how I missed it the first time.
BTW: Oil dipped under 76 today.
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