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View Full Version : Break out the Cork Screws boys!


Gonzo
09-24-2008, 11:04 AM
http://www.foxnews.com/story/0,2933,426764,00.html

Heres a link for those of you who choose not to go to FoxNews.

http://www.cnn.com/2008/POLITICS/09/24/congress.drilling.ban/index.html

CoorsLight
09-24-2008, 11:06 AM
Jorski should be along any second.

Skipper
09-24-2008, 12:28 PM
From the link:

"WASHINGTON Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in a months-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer."

Jorski should be along any second.

Do the Republicans need Canada's approval too?

Jorski
09-24-2008, 12:40 PM
Jorski should be along any second.

Not surprising news, but if you go back and read my posts you would find that I never said that you should or shouldn't drill offshore. My argument is that it won't make much of a difference.

Time will tell; you will know if this made a significant impact in about 10 years...might want hold off on the "cork popping"

6ballsisall
09-24-2008, 12:43 PM
The news thus far hasn't put a dent in oil prices. Guess we'll see what becomes of this decision

Skipper
09-24-2008, 01:05 PM
The news thus far hasn't put a dent in oil prices. Guess we'll see what becomes of this decision

They probably have to drill the holes and find oil first?

03 35th Anniversary
09-24-2008, 01:24 PM
They probably have to drill the holes and find oil first?


Believe it or not, the oil companies already have a really good idea of where it all is. Just like in the Gulf..... ;)

Monte
09-24-2008, 01:30 PM
Who needs a corkscrew? Just untwist the wire holder, shake the bottle, nudge with thumb, and let them fly..
Great NEWS!!!

6ballsisall
09-24-2008, 01:53 PM
Believe it or not, the oil companies already have a really good idea of where it all is. Just like in the Gulf..... ;)

Tru Dat :cool:

Jorski
09-24-2008, 01:55 PM
There are a little over 600 offshore drilling rigs in the entire world...90% of them are currently being utilized. You never get to 100% due to maintenance storm damage etc.

So we are pretty much at full capacity utilization...some rigs will be moved hoping to find areas with higher production than where they are currently located; but be clear there is no big bump in oil supply coming from this announcement.

Jesus_Freak
09-24-2008, 03:45 PM
There are a little over 600 offshore drilling rigs in the entire world...90% of them are currently being utilized. You never get to 100% due to maintenance storm damage etc.

So we are pretty much at full capacity utilization...some rigs will be moved hoping to find areas with higher production than where they are currently located; but be clear there is no big bump in oil supply coming from this announcement.

So, the cost of capital is too high to justify the construction of another one for years to come?

03 35th Anniversary
09-24-2008, 03:49 PM
So, the cost of capital is too high to justify the construction of another one for years to come?

It cost a atleast 350 million for one offshore drilling rig before you get the first barrel of oil out of it.

Monte
09-24-2008, 03:53 PM
So, the cost of capital is too high to justify the construction of another one for years to come?

He is "speculating" hell, with that announcement, If I had big money in barrells of oil, I'd be freaking out.

Maristar210
09-24-2008, 04:01 PM
Not surprising news, but if you go back and read my posts you would find that I never said that you should or shouldn't drill offshore. My argument is that it won't make much of a difference.

Time will tell; you will know if this made a significant impact in about 10 years...might want hold off on the "cork popping"

The worlds going to end any moment, I agree. Build a bunker become a user. Got it.

captain planet
09-24-2008, 04:25 PM
I'm sure with this announcement the cost of gasoline will just plummet.......all the way down to $3.499 per gallon. :confused: Just another helping hand to the oil companies and another distraction to what we need to do, get off oil. :(

bigmac
09-24-2008, 04:50 PM
It's good news as a security issue. Right now about 70% of our oil comes from countries that wish we were all dead. It will have little effect on our current financial situation and if it has any effect on the price of gasoline, it will be many years from now....it will probably mean $7.00 per gallon instead of $7.10.

wakeX2wake
09-24-2008, 04:53 PM
It's good news as a security issue. Right now about 70% of our oil comes from countries that wish we were all dead.

and isn't this what its all really about??? well stated bigmac

6ballsisall
09-24-2008, 04:57 PM
and isn't this what its all really about??? well stated bigmac

Tru Dat...............

Hammer
09-24-2008, 05:28 PM
It cost a atleast 350 million for one offshore drilling rig before you get the first barrel of oil out of it.

I'm pretty sure this is not a factor for the oil companys. How many Billions did they make last year?:confused:

Gonzo
09-24-2008, 05:29 PM
I have a theory that will never be put into place because its either too stupid or makes too much sense.

If you offer up a 10-15 yr (short term) lease on all the off shore drilling, mandate that the oil companies put in the same quality rigs they use at their current long term lease facilities, so maintenance is less an issue. Then take the revenues from the lease and put them in a fund of some sort, offering it up 25% 25% 50% to the top 3 schools/pvt organizations that make a working Hydrogen type fuel cell that can be put into mass production and functional in the next 7-10 yrs.

That’s a 5 yr gap from working hydrogen type fuel cell to the end of the leases can act as a bridge to allow folks to buy new(er) vehicles or up fit. After that the oil industry simply abandons those rigs and goes back to the long term leases they hold today. Maint of the new rigs falls to the government and guess what, when the War machine needs to crank up we still have our own capacity for all those things that haul the exploding things from target to target.

Granted its a little oversimplified (ya think???) but you get the drift. Let um drill, set a time limit and give whoever really invents the next big fuel source a tangible obtainable reward for doing so (besides the Nobel peace prize). Heck if the govt wants to run the rigs and give oil to china to pay down the 700billion we will owe them next week... that works too :)

Gonzo
09-24-2008, 05:32 PM
O yea, forgot, the corkscrew is not for wine etc... I understand this is not a quick fix, no such thing. It was a refrence to joke I make about turning a certain part of the world to glass and then going in with rad suits and cork screws to get the oil out.... you know.... texas ;)

6ballsisall
09-24-2008, 05:33 PM
I'm pretty sure this is not a factor for the oil companys. How many Billions did they make last year?:confused:

350 million is a good chunk of money to anyone or any company. Factor in that they generally have multiple projects going on at once and you're talking some real jack

Footin
09-24-2008, 05:41 PM
IF any of the US oil companies take advantage of this soon I see it as a change in the global oil industry.

I think it will take a "creditable" threat that the US will drill (at large quantities) and oil prices will plummet.

Is this a creditable US threat?

03 35th Anniversary
09-24-2008, 05:45 PM
IF any of the US oil companies take advantage of this soon I see it as a change in the global oil industry.

I think it will take a "creditable" threat that the US will drill (at large quantities) and oil prices will plummet.

Is this a creditable US threat?


I agree^^^^

But I think they will actually have to start drilling to make it "creditable"

TMCNo1
09-24-2008, 06:42 PM
I'll just unscrew the top on my bottle of bubblie, unless they announce a gigantic discovery of underground teak oil! Till then, I drink the cheap stuff!http://smileys.smileycentral.com/cat/7/7_4_33.gif

Jesus_Freak
09-26-2008, 12:36 PM
It cost a atleast 350 million for one offshore drilling rig before you get the first barrel of oil out of it.

Yes, but I am asking about the cost for company x, ROI expectations, etc. Capital outlay is just a small part of the picture.