Drilling for Answers

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  • Posted By: jeffjay @ 06/18/2008 10:27:18 PM

    aelemay,
    At least give Mr. Gross (the author) some credit where credit is due. You and I are both in favor of putting the United States in a position to benefit from our own natural energy sources, while the author is not. But at least he had the integrity to give an expert in the industry a voice. That's much better than we usually get from the drive by media, where they often quote libs like Nancy Pelosi claiming that the oil industry isn't even fully utilizing existing leases. What she fails to mention is that they can't because of the never ending red tape placed on the energy industry by our wonderful government and the environmental wacko's trial lawyers.

    • Posted By: raddave @ 06/19/2008 1:25:02 AM

      Stop trying to blame the Dems because the oil companies do not want to invest their record profits into exploring and drilling the leased areas.

      • Posted By: Baggadonutz @ 06/19/2008 2:15:24 AM

        Wrong, in 2006 Exxon Mobil reinvested 76% of there 40 billion dollar profit into alternative energy research and exploration. The facts are out there, you just have to stop whining and go find out for yourself . You see these people you worship meaning the Dems, are the single biggest threat to are freedom if you people are to blind to see through their nonsense, then this country is in a whole lot of trouble. Oh by the way I just wanted to give a big shout out to my buddy Al Gore, I hope your 9% stake in that carbon credit company is worth all of the misery that you have caused our nation with your Global Warming crap, you fraud, yes I said it you fraud.

        • Posted By: raddave @ 06/19/2008 3:44:19 AM

          You are wrong my friend. Exxon Mobil has invested .4% of its profits to research. Far below the other oil companies. The biggest threat to our freedoms is large cooperations, such as the oil companies trying to control our country and mindless idiots that believe everything they say. The only frauds on the global warming issue are the "scientist" who work for the oil companies that try to cast doubt on the issue. These are the same "scientist" that worked for the tobacco industry who tried to say there was no link between smoking and cancer.

          • Posted By: summer4077 @ 06/19/2008 10:46:33 AM

            You are exactly right, raddave. I believe Valero (I may be mistaken) and BP are the top companies investing in alternative energy research, and even they are below 15%. I can't believe s/he even suggested 76% return investment. A company couldn't exist on that level. Wow.

            I also don't see how people can look at the millions of cars spewing toxins in the air, just in America, and all the factories with black smoke pouring out of them and really think it's not affecting the environment. Acid rain, whole marine populations dying off, average temperatures rising, polar ice caps melting, holes in the ozone, droughts, floods....really? You think this is all coincidence?

  • Posted By: jath123 @ 06/19/2008 9:05:21 AM

    Maybe we could strike a deal? We agree to more off-shore drilling, and the oil companies agree to a GUARANTEED price reduction in gasoline since, you know, it's soooo going to happen. Pretty funny, huh? Of course that would never happen, because the oil companies know that gas is never coming down again as the rest of the world continues to develop. 40% of the world's population lives in China and India, and most of them do not even have cars yet. Do the math.

    • Posted By: misterharban @ 06/19/2008 10:42:13 AM

      You are probably right that further leasing will not bring the price of gas down. However, it might not be unreasonable for the US to change the terms of its new leases to reflect the production sharing arrangements that other governments offer. This would have the effect of significantly directing oil production revenues to American taxpayers.

  • Posted By: Eugene23 @ 06/19/2008 1:51:03 AM

    I knew gas prices would go up this year, but I thought they (the powers that be) would wait until about August. Apparently, Obama is causing them to sweat. So, they decided to go ahead and raise gas prices and let Bush come up with a fix - offshore drilling. This isn't about offshore drilling. It was predictable. Here's what happens next. Gas prices level off. Then, as we approach November they start rising again. Not only that, but terrorist activity will be announced. We'll get warnings. Of course, we are always in danger of a terrorist attack, but there will be cell phone interceptions, a video of al Queda making threats, maybe a tortured terrorist revealing something. McCain will jump all over it. Closer to Novemeber the a higher level threat will be announced, perhaps even to the point of our being eminent danger. McCain will eat it up. The shame of it is that we are being used. Families and working people are suffering because the powerful want to keep their power. Why am I such a soothsayer? Because history repeats itself.

    • Posted By: summer4077 @ 06/19/2008 10:40:56 AM

      Sadly, I believe you are correct. The current administration has used the American public as marionette dolls for their entertainment. The "terror threat levels" is such a crock, created to induce false panic and alarm to keep the American public in line. Of course we're not gonna question or challenge a corrupt government when we falsely believe they are keeping us safe from all of these smoke and mirrors threats...

  • Posted By: Bass Pro @ 06/19/2008 10:34:56 AM

    I wouldn't argue that offshore drilling hasn't been proven safe, but Charlie Crist coming out for it in his quest to be mcCain's VP will backfire big time. It's not about oil or gas prices in Florida! It's about tourism and everything related to it. Floridians will not be in favor of anything that could even remotely harm that industry. McCain looked like he had many of the Hillary defectors going his way until Crist did a flip flop. Now mcCain will lose Florida and his shot for the Whitehouse and Crist will lose his shot to be the VP and a two term Governor. How stupid can the mouth-breathing 23%ers get?

  • Posted By: misterharban @ 06/18/2008 10:35:25 PM

    The Democrat resistance to opening drilling on the OCS amounts to a 100% tax on that activity -- ultimately no different than a reverse tariff on imports. Come on guys, lets get a little consistent. We want to be isolationists on trade when it suits us and internationalists when it doesn't. In case you don't understand, most of our exchange imbalance is a reflection of our oil imports -- not shipping jobs overseas.

    • Posted By: raddave @ 06/19/2008 1:16:27 AM

      If the answer is to open all of the U.S. shores to drilling the answer then whey is 86% of the area that is open for drilling not being explored and drilled?

      • Posted By: misterharban @ 06/19/2008 10:33:37 AM

        The 86 percent that has not been developed has and/or is being explored. The vast majority of it is not being drilled or developed because it does not have oil under it. If every acre of every oil lease contained oil or even 10 percent of the acres contained oil this article would not be written. The overwhelming majority of OCS leases currently held by companies are in the Gulf of Mexico and most contain no oil, but are prospective for natural gas. These leases are being developed at a rate which is consistent with meeting the demand for natural gas in this country and with the ability to develop the infrastructure necessary to connect new developments to our pipeline system. They cannot, however, contribute any oil whatsoever to meet our current or future needs.

        Of the remaining acreage which contains oil, much of it is in very deep water, far offshore and requires very deep drilling. Chevron has completed one exploration well in a location that is in 6000 feet of water and required well over 20,000 feet of drilling from the seabed. The exploration well, drilled just to see if oil was present, cost over 100 million dollars. The location is very remote from existing pipeline systems and will cost several billion dollars to develop. There is certainly nothing wrong with expecting companies which hold these leases to develop them, but the very high cost and very high risk of exploration failure also makes it reasonable to seek to balance these prospects with ones which have somewhat lower costs and somewhat lower risk. Much of the area which is currently closed to drilling meets this criteria.

        Frankly, I don???t care what our dim bulb leaders do about the problem. I can afford gas at any price. I simply marvel at the underlying ignorance and hypocrisy which underlies their. A 2002 report by the National Research Council reported that existing offshore development in waters administered by the Minerals Management Service have released about the same amount of hydrocarbons to the marine environment than recreational boaters and far less than other types of marine transportation. The same people who would abrogate many of our trade agreements on the grounds that purchasing foreign made products results in environmental damage which would not result if those products were made in the USA are perfectly comfortable foregoing production of our own offshore oil under the highest standards in the world while oil produced overseas in places like Nigeria, Peru, Venezuela and Brazil despoils thousands of acres of pristine rain forests and pollute thousands of miles of rivers and other marine environments.

  • Posted By: jath123 @ 06/19/2008 10:31:18 AM

    JackGBoyd is right to draw a distinction between net-positive energy sources (oil, gas, nuclear, solar, wind, hydro)and portable energy intermediaries that require much energy to produce (hydrogen, corn ethanol). It seems the best solution is to increase the % of non-fossil in our electricity grid, and make the move to direct use of electricity for transit wherever possible (electric subways and trains, electric cars like the Chevy Volt, etc.). Even then, there will always be a need for portable fuel for transportation and heating, so let's get going on cellulosic ethanol and bio-diesels. Ideally, the best biofuels are those that require the least amount of fertilizer, since fertilizer is made from petroleum. I have read promising reports on biodiesel developed from algae, so switchgrass ethanol is not the only answer. It's R&D time, folks!

  • Posted By: JackGBoyd@hotmail.com @ 06/19/2008 10:06:00 AM

    Hydrogen has no promise as a replacement for fossil fuels unless there is some huge scientific breakthrough. The amount of energy needed to separate the hydrogen from water is about equal to the energy it can provide. The source of energy used for the separation is and will continue to be fossil fuels. Hydrogen should be thought of more as a means of transporting energy. Electircity is also mostly fossil fueld based. Hydrogen and electricity are not alternative energy sources.

  • Posted By: JackGBoyd@hotmail.com @ 06/19/2008 10:04:56 AM

    Hydrogen has no promise as a replacement for fossil fuels unless there is some huge scientific breakthrough. The amount of energy needed to separate the hydrogen from water is about equal to the energy it can provide. The source of energy used for the separation is and will continue to be fossil fuels. Hydrogen should be thought of more as a means of transporting energy. Electircity is also mostly fossil fueld based. Hydrogen and electricity are not alternative energy sources.

  • Posted By: RHO2784610 @ 06/19/2008 8:42:39 AM

    Any added supply would help alleviate the pain. If it's just greed, then why is Exxon dumping it's gas stations? No matter how much you demagogue the issue it's impossible to rewrite supply and demand. You are motivated by hatred of the entire oil industry. Fine, whaterver, but your refusal to allow more drilling will make this problem much, much worse for the next ten to fifteen years. We can certainly provide more oil supply more quickly than we can invent a new technology and build up an infrastructure for a new fuel that doesn't even exist yet. We need to do both things at once, but it is moronic to stubbornly refuse to provide more oil supply when the lack of oil and refineries is going to devastate our economy. There WILL be a massive grassroots movement that demands action on this issue. The extreme left wing will refuse to budge on this, but most Americans will fall on the other side of the issue as prices continue to rise. Everyone wants a clean environment, but simple economic pressure will force us to eventually make some compromises to keep the country running.

    • Posted By: xeyeldinTX @ 06/19/2008 9:40:02 AM

      RHO - Sometimes the medicine that is necessary to heal is bitter indeed to swallow. It costs me roughly double what it used to to fill my tank, this coupled with the astronomical increase in prices at the grocery store has been a bitter pill to swallow. However, there is a silver lining. These high costs have people scrambling to find alternatives. For some that is more drilling, with no mention of the bottleneck in refining - oddly enough. For others it is a desire to think to the future to changes that will drive down our need for petroleum products and reliance on unstable foreign governments. Drilling is not the answer, though it would potentially - with added refining - alleviate our need to swallow the bitter medicine of a stalling economy. If we look historically, events that have driven major changes in economies began with disasters. The plague in Europe and the great fire of London are two perfect examples. So lets not drill, lets look forward, lets be Americans again and lead the way. Necessity after all is the mother of invention.

  • Posted By: jath123 @ 06/19/2008 9:03:49 AM

    40 million acres are currently leased for off-shore production. 30-million of those are currently sitting idle and unused. So why do they need more? Maybe because it's a good excuse to execute a land grab. By the way, there is a fascinating article in the NY Times today explaining that there is a critical shortage in off-shore drilling ships and the companies that manufacture them. So there are many reasons why expanding off-shore drilling areas will NOT increase production anytime soon.

    Oh, and Exxon is dumping its gas stations and sticking with oil production because anyone can tell you that manufacturing is more profitable than retail. Would they be doing it if it DECREASED their profits? That would be crazy.

    Maybe we could strike a deal? We agree to more off-shore drilling, and the oil companies agree to a GUARANTEED price reduction in gasoline since, you know, it's soooo going to happen. Pretty funny, huh? Of course that would never happen, because the oil companies know that gas is never coming down again as the rest of the world continues to develop. 40% of the world's population lives in China and India, and most of them do not even have cars yet. Do the math.

  • Posted By: Mwalimu @ 06/19/2008 9:00:09 AM

    380 parts per million.
    Does that number mean anything to John Hofmeister or even RHO?
    It should - at least if Hofmeister or any one else is an intelligent or responsible commentator.
    That???s the ratio of carbon dioxide to the atmosphere as of last October. This ratio is expanding by 2 parts per year, so now the ratio is about 382 parts per million. If the ratio hits 450, the human race will face mass extinction. I got these quotes from the October 2007 issue of National Geographic which did not cover the ratio of methane in the atmosphere, an even more deadly gas than carbon dioxide.
    As I am writing, the West is burning up with out-of-control fires, the South and Midwest have been struck with a record number of tornadoes; Iowa and other parts of the Midwest have been hit with floods, causing record high corn prices - These are only warning signs of the effects of global warming. It will get worse - much worse, each year we pump more carbon into the atmosphere.
    In face of these realities, big oil???s campaign to liberate oil companies from the constraints of off-shore drilling borders on criminal insanity. Giving oil companies the right to drill and kill without any regard to the environment will not lower gas prices. It simply lures us away from facing the inevitable - a world without oil
    There are alternatives. Corn ethanol is not one of them. According to National Geographic we could produce fuel from algae. Yet I do not see any discussion of algae technology or any attempt to cover corporations like GreenFuel Technology or entrepreneurs like Isaac Berzin. Ironically, Samuelson didn???t even read the last issue of Newsweek magazine features an interview with Genome pioneer Craig Venter who proposes a specially engineered bacteria that will convert carbon dioxide into fuel. Hofmeister???s myopic article emphasizes the need for a radical change in this country - both in leadership - in the political and corporate spheres and as well as a change of our view of economics.

  • Posted By: OldGamer007 @ 06/19/2008 8:23:30 AM

    Google "the Enron loophole" or "the energy loophole", you all have been played like a bad fiddle. And guess who was a major pusher for the exploitation of that loophole? Yup, the same lobbyist who are running McCain's campaign.

  • Posted By: valadezaj @ 06/19/2008 1:49:49 AM

    Offshore drilling is a red herring. Oil prices are up because the oil companies want them to be. Must be pretty damn nice since they know we can't stop driving. If we can't get the prices to go down we should at least get the oil execs to pay a huge fat tax on their record profits. Yeah I remember the congressional hearings. "I make billions of dollars but I'm just a victim". Bull crap!

  • Posted By: rppeabody @ 06/19/2008 12:57:32 AM

    It is commonly known that the price of oil is rising and will continue to rise. The longer we hold on to our oil, the more it is worth.

  • Posted By: sayitboldly @ 06/19/2008 12:22:27 AM

    500 million


    Dave Foreman Co-Founder of Earth First! 100 million

    "My three main goals would be to reduce human populatioin to about 100 million worldwide, destroy the industrial infrastructure and see wilderness, with its full complement of species, returning throughout the world."

    The club of romes first global revolution

    "All these dangers are caused by human intervention...and it is only through changed attitudes and behavior that they can be overcome...The real enemy, then. is humanity itself."

    "The earth has cancer and the cancer is man" The club of Rome "Mankind at the Turning Point"

    "The resultant ideal sustainable population is hence more than 500 million but less than one billion." The Club of Rome "Goals for Mankind"

    Paul Erlich Population Bomb "A cancer is an uncontrolled multiplecation of cells; the population explosion is an uncontrolled multiplication of people. We must shift our efforts from the treatment of the symptoms to the cutting out of the cancer. The operation will demand many apparently brutal and heartless decisions."

    WE dont deserve to live anyway
    "the most dangerous destructive selfish and unethical animal on planet."

    Prince Phillip of Edinburgh
    "If i were reincarnated i would wish to be returned to earth as a killer virus to lower human population levels."

    David Brower First Director of Sierra Club
    "Childbearing should be a punishable crime against society, unless the parents hold a government license."
    All potential parents should be requited to use contraceptive chemicals, the government issuing antidotes to citizens chosen for childbearing."

    Controlling energy agenda...the greens...no Alaska drilling.

    One American burdens the earth much more than twenty Bangladeshis. This is a terrible thing to say. In order to stabilize world population we must eliminate 350,000 people per day. It is a horrible thing to say, but its just as bad not to say it." Jacques Cousteau

  • Posted By: hurricaneharry@go.com @ 06/18/2008 11:40:49 PM

    Because oil is priced in dollars the declining dollar means we pay more for less. In addition, we only produce about 10% of the world's supply of crude oil. We could drill on every coastal shelf and in every national park and still not impact crude oil prices more than a penny or two. We can only control demand. That is where change lies.

  • Posted By: KYJurisDoctor @ 06/18/2008 11:24:18 PM

    Yes, it's that time of the year -- AGAIN!

    SHAMEFUL political posturing that is NO different from the oil tax holiday proposed earlier by the likes of BILLARY Clinton -- and John McCain!

  • Posted By: jeffjay @ 06/18/2008 10:26:49 PM

    aelemay,
    At least give Mr. Gross (the author) some credit where credit is due. You and I are both in favor of putting the United States in a position to benefit from our own natural energy sources, while the author is not. But at least he had the integrity to give an expert in the industry a voice. That's much better than we usually get from the drive by media, where they often quote libs like Nancy Pelosi claiming that the oil industry isn't even fully utilizing existing leases. What she fails to mention is that they can't because of the never ending red tape placed on the energy industry by our wonderful government and the environmental wacko's trial lawyers.

  • Posted By: aelemay @ 06/18/2008 7:37:44 PM

    You smug rotten son of a ***, you could have taken the same material and written a constructive useful article instead of one ridiculing the world's experts and those who have some optimism for the future. Some petroleum experts feel the ANWR has three times the reserves of Saudi Arabia. Similarly, there are some experts who feel the Shell Oil explorations and R&D of the Colorado oil shale deposits can be seven times the size of the Saudi's reserves.

    So, what are you trying to say? That it's hopless? Bullshit. Alternative sources are useful, but nowhere ready for prime time -- the real estate requirements are hopless, the costs are too high, and they do not replace the need for base-load power available 24 hours a day.

    I think you should ask your mother to review your writing so she can tell you if you are insulting the intelligence of your audience. I did not know it was a job requirement at Newsweek that the writers are jerks.

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