BP may have struck it rich with the d...

BP may have struck it rich with the deepest deep-water oil well...

There are 15 comments on the TwinCities.com story from Sep 2, 2009, titled BP may have struck it rich with the deepest deep-water oil well.... In it, TwinCities.com reports that:

The Transocean Ltd. Deepwater Horizon, a semi-submersible drilling unit, is seen in the Gulf of Mexico in this undated photo released to the media on Wednesday, Sept.

Join the discussion below, or Read more at TwinCities.com.

Sheesh

Saint Paul, MN

#1 Sep 2, 2009
LIES LIES ALL LIES! We all know there is no more oil!! Next thing ya know they will tell us about oil in North & South Dakota or Northern Alaska in a spot so remote on the tundra NOTHING can live there! NO THERE IS NO MORE OIL!:O

.

I cant believe this was even allowed to be reported honestly hehe! NOW LETS GO GET IT! My Malibu is thirsty!
Owl Gore

Minneapolis, MN

#2 Sep 3, 2009
This can’t be true...the earth is running out of oil. All the greenies say so!

This resource will be untapped to placate tree huggers while Obama gives billions to a Brazilian oil company owned in large part by George Sorros to drill off the coast of Brazil. The Brazilian company will of course sell us the oil at inflated prices. No new American oil will be produced or American jobs will be created by this find as long as Obama is in the White House.



Why Obama Gave Billions To Brazil For Oil Drilling

http://yidwithlid.blogspot.com/2009/09/why-ob...

Last month there was much criticism over the fact that President Obama agreed to give Brazilian Owned Oil Company Petrobras up to $10 Billion Dollars to look for Oil off the Brazil Coast. This was especially disturbing when you consider that they Administration objects to the US Drilling off its own coast, which will work toward keeping the price of oil low and help wean us off foreign oil.

Why would the POTUS pay for a foreign country to drill for oil but object to his own country taking advantage of his own country's resources? Payback.

Last week Hot Air discovered that "coincidentally" just a few days before the announcement of the US Oil Exploration Aid, Friend of Barack, George Soros, set himself up to make a lot more money from Brazilian Oil Exploration..

NICE! Making money on the spread, and putting himself in a position to make more money from higher dividends just before all the big bucks "donation" from President Obama. Soros must be master of the deal or Obama is the master of the quid quo pro.

Read more below:



SAN FRANCISCO (MarketWatch)— George Soros’ hedge fund firm grew strongly through the worst financial crisis since the Great Depression, while big rivals mostly shrank, according to results of a survey released Tuesday by industry publication AR.

http://www.marketwatch.com/story/soros-grows-...
Owl Gore

Minneapolis, MN

#3 Sep 3, 2009
Peak Oil Is a Waste of Energy
http://www.nytimes.com/2009/08/25/opinion/25l...
A careful examination of the facts shows that most arguments about peak oil are based on anecdotal information, vague references and ignorance of how the oil industry goes about finding fields and extracting petroleum. And this has been demonstrated over and over again: the founder of the Association for the Study of Peak Oil first claimed in 1989 that the peak had already been reached, and Mr. Schlesinger argued a decade earlier that production was unlikely to ever go much higher.
Mr. Birol isnt the only one still worrying. One leading proponent of peak oil, the writer Paul Roberts, recently expressed shock to discover that the liquid coming out of the Ghawar Field in Saudi Arabia, the worlds largest known deposit, is around 35 percent water and rising. But this is hardly a concern the buildup is caused by the Saudis pumping seawater into the field to keep pressure up and make extraction easier. The global average for water in oil field yields is estimated to be as high as 75 percent.
Another critic, a prominent consultant and investor named Matthew Simmons, has raised concerns over oil engineers using fuzzy logic to estimate reservoir holdings. But fuzzy logic is a programming method that has been used since I was in graduate school in situations where the factors are hazy and variable everything from physical science to international relations and its track record in oil geology has been quite good.
But those are just the latest arguments for the most part the peak-oil crowd rests its case on three major claims: that the world is discovering only one barrel for every three or four produced; that political instability in oil-producing countries puts us at an unprecedented risk of having the spigots turned off; and that we have already used half of the two trillion barrels of oil that the earth contained.
Lets take the rate-of-discovery argument first: it is a statement that reflects ignorance of industry terminology. When a new field is found, it is given a size estimate that indicates how much is thought to be recoverable at that point in time. But as years pass, the estimate is almost always revised upward, either because more pockets of oil are found in the field or because new technology makes it possible to extract oil that was previously unreachable. Yet because petroleum geologists dont report that additional recoverable oil as newly discovered, the peak oil advocates tend to ignore it. In truth, the combination of new discoveries and revisions to size estimates of older fields has been keeping pace with production for many years.
A related argument that the easy oil is gone and that extraction can only become more difficult and cost-ineffective should be recognized as vague and irrelevant. Drillers in Persia a century ago certainly didnt consider their work easy, and the mechanized, computerized industry of today is a far sight from 19th-century mule-drawn rigs. Hundreds of fields that produce easy oil today were once thought technologically unreachable.
tww

Saint Paul, MN

#4 Sep 3, 2009
The US rather pay for some one else (like the Chinese or Brazilians) drill oil of our coast, rather buy goods manufactured overseas where there is no EPA, OSHA, etc., rather stop development and infrastructure improvements, etc. If we keep on this track, the US economy will be dwarfed by the Chinese, Indian, and other economies that rather have jobs and prosperity.
Jerry

Minneapolis, MN

#5 Sep 3, 2009
ROFLMAO !!!

If you people paid attention to what was going on in the world, then you would alerady know the Mexican oil fields have been dropping in production for years now. So, this "new find" will merely act as a termporary replacement for that lost imported oil--when it eventually gets developed.
Dr Kildare

Burnsville, MN

#6 Sep 3, 2009
Don't tell Obama and Gore
No Wat M Saying

Minneapolis, MN

#7 Sep 3, 2009
the libs all say we are running out of coal and oil. No way man!

we have about 200 years of supplies now, so lets forget the silly solar and windmills.
Smith_St_Guy

United States

#8 Sep 3, 2009
Human beings rock!
KJL

Manchester, CT

#9 Sep 3, 2009
I can't wait for the specualtor's to spin this one... "It will take dozens of years to get this oil to the US shores... blah blah blah..." causing the OPEC nations to hit the panic button and create a tactic to increase the price of oil next week.

What's even better is Natural Gas is becoming more abundant that certain ebergy companies (including some in the midwest)are currently sayign they see winter energy bills dropping by 20% or more. Want to bet good ol' Xcel Energy finds a way to still increase our costs for those of us who have natural gas appliances here in Minnesota?
IrishMN

Minneapolis, MN

#10 Sep 3, 2009
"BP may have struck it rich..." ???

What umpteen billion a day in profits is not enough. They still need to strike it rich?

This is a good example of why the energy industry needs to be taken over by the government. They will not invest thier profits into the people that need help in this country, or around the world.

They will simply take the money and make themselves and their other buddies richer at the expense of the labor provided by hard working men and women who make pennies against the managements mega-millions a day.
High Top

Denver, CO

#11 Sep 3, 2009
IrishMN wrote:
"BP may have struck it rich..." ???
What umpteen billion a day in profits is not enough. They still need to strike it rich?
This is a good example of why the energy industry needs to be taken over by the government. They will not invest thier profits into the people that need help in this country, or around the world.
They will simply take the money and make themselves and their other buddies richer at the expense of the labor provided by hard working men and women who make pennies against the managements mega-millions a day.
pssst,

last year Exxon Mobil paid 33 billion in taxes to our fed gov't

you an idiot

Dr Frank Lippenheimer

Since: Mar 09

Saint Paul, MN

#12 Sep 3, 2009
Uh oh. That ain't good. Tax the crap out of them and make them wish they'd never found it.
Mike

Saint Cloud, MN

#13 Sep 3, 2009
Key words "strike it rich." Not you, them.
wow

Minneapolis, MN

#14 Sep 3, 2009
Didn't they find oil in Minnesota, but it's too close to the BWCA to drill?
Sheesh

Saint Paul, MN

#15 Sep 4, 2009
Owl Gore wrote:
This can’t be true...the earth is running out of oil. All the greenies say so!
This resource will be untapped to placate tree huggers while Obama gives billions to a Brazilian oil company owned in large part by George Sorros to drill off the coast of Brazil. The Brazilian company will of course sell us the oil at inflated prices. No new American oil will be produced or American jobs will be created by this find as long as Obama is in the White House.
Why Obama Gave Billions To Brazil For Oil Drilling
http://yidwithlid.blogspot.com/2009/09/why-ob...
Last month there was much criticism over the fact that President Obama agreed to give Brazilian Owned Oil Company Petrobras up to $10 Billion Dollars to look for Oil off the Brazil Coast. This was especially disturbing when you consider that they Administration objects to the US Drilling off its own coast, which will work toward keeping the price of oil low and help wean us off foreign oil.
Why would the POTUS pay for a foreign country to drill for oil but object to his own country taking advantage of his own country's resources? Payback.
Last week Hot Air discovered that "coincidentally" just a few days before the announcement of the US Oil Exploration Aid, Friend of Barack, George Soros, set himself up to make a lot more money from Brazilian Oil Exploration..
NICE! Making money on the spread, and putting himself in a position to make more money from higher dividends just before all the big bucks "donation" from President Obama. Soros must be master of the deal or Obama is the master of the quid quo pro.
Read more below:
SAN FRANCISCO (MarketWatch)— George Soros’ hedge fund firm grew strongly through the worst financial crisis since the Great Depression, while big rivals mostly shrank, according to results of a survey released Tuesday by industry publication AR.
http://www.marketwatch.com/story/soros-grows-...
Great post!
And to those whom rated my post clueless and nuts , well, yeah Im a little nuts but my post was meant to be sarcasm. Have a good one! Power to the people!

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