Risk Is Clear in Drilling - Payoff Isn't

Apr 1, 2010 | Posted by: Mr_Bill | Full story: www.nytimes.com

In proposing a major expansion of offshore oil and gas development, President Obama set out to fashion a carefully balanced plan that would attract bipartisan support for climate and energy legislation while increasing production of domestic oil.

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Since: Dec 08

Medina, TX

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#1
Apr 1, 2010
 

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And just how many Americans out there in cyberland actually believe what Obama says at any one time. I for one trust him about as much as I can throw a horse over the fence. He is just setting us up for what will be an energy policy fiasco just like the health care fiasco. The man is a socialist and he ain't going to change anytime soon.

“If it ain't broke don't fix it”

Since: Jul 09

www.blanketsandstuff.com

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#2
Apr 1, 2010
 
AAAahhhh, and there is the catch: support for climate and energy legislation.

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#3
Apr 1, 2010
 

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"In proposing a major expansion of offshore oil and gas development,"

This isn't a very big deal.

Obama is just allowing exploration in a very small area out of what will be left unexplored.

And exploration does not mean drilling any time in the near future, if ever at all.

I very unimpressed with his almost empty gesture.
Randy

United States

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#4
Apr 1, 2010
 
Obama is pressing for Cap and Trade (TAX) on energy companies. Those companies will NOT eat that tax!

Guess what those companies will do...pass that TAX onto its customers. You and me.

In the meantime, Russia is drilling off Cuba's coast and is talking to Chavez in Venezuela about oil.

And what do Obama and the democrats do?

They play political games saying they are opening up oil fields, when they are NOT. And America?
She is starting to crumble under this administration.

what can we do...vote! Vote democrats OUT. Change the balance of government.

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#6
Apr 1, 2010
 
Randy wrote:
Obama is pressing for Cap and Trade (TAX) on energy companies. Those companies will NOT eat that tax!
Guess what those companies will do...pass that TAX onto its customers. You and me.
In the meantime, Russia is drilling off Cuba's coast and is talking to Chavez in Venezuela about oil.
And what do Obama and the democrats do?
They play political games saying they are opening up oil fields, when they are NOT. And America?
She is starting to crumble under this administration.
what can we do...vote! Vote democrats OUT. Change the balance of government.
Obama did not want to pass a strictly partisan takeover of the private health industry.

But in the end he was forced to.

Now he really, REALLY doesn't want to be the sole father of Cap and Tax.

I think he would offer almost anything to lure a couple of Republicans along so that they can share the blame for the most massive job-killing tax since Obamacare.

BTW:

With long faces and a heavy heart pro-Obama MSNBC reported today that Obama's poll numbers continue to plunge.

He is now less than 50% on the question of does he deserved re-election to a second term.

“i hope we can change this!”

Since: Aug 08

usa

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#7
Apr 1, 2010
 
sailorman2 wrote:
And just how many Americans out there in cyberland actually believe what Obama says at any one time. I for one trust him about as much as I can throw a horse over the fence. He is just setting us up for what will be an energy policy fiasco just like the health care fiasco. The man is a socialist and he ain't going to change anytime soon.
i agree ... something's VERY fishy about this.

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#8
Apr 1, 2010
 
carey529 wrote:
<quoted text>
i agree ... something's VERY fishy about this.
It's simple.

Obama is offering practically nothing in exchange for some Republican support for this massive cap and trade energy tax.

Because when the jobs begin leaving for China Obama doesnt want to take the blame all by himself.

Since: May 08

Marrero, Louisiana

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#9
Apr 1, 2010
 
I would trust the devil sooner!

Since: Sep 07

Havre De Grace, MD

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Apr 1, 2010
 

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We have enough oil in this country that, if we even made serious attempts to BUILD oil platforms, the price would go down just because of that.

We wouldn't even have to build actual platform, just go through the motions and the speculators would not be able to hype up the price of oil anymore like they do today.

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#11
Apr 1, 2010
 

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Leria wrote:
We have enough oil in this country that, if we even made serious attempts to BUILD oil platforms, the price would go down just because of that.
We wouldn't even have to build actual platform, just go through the motions and the speculators would not be able to hype up the price of oil anymore like they do today.
The typical liberal Obama voter doesn't want to produce oil in America even if it does produce jobs and reduce our balance of payments deficit.

They are so freaked out by the global warming hoax that they would rather sit in the dark than drill for oil.

Since: Sep 07

Havre De Grace, MD

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#12
Apr 1, 2010
 
Mac-7 wrote:
<quoted text>
The typical liberal Obama voter doesn't want to produce oil in America even if it does produce jobs and reduce our balance of payments deficit.
They are so freaked out by the global warming hoax that they would rather sit in the dark than drill for oil.
Excuse me, but I supported Obama, are an extreme liberal, and DO want to drill for oil in this country, though I do want it to be done in the most eco-friendly way we currently know how to do it, thank you.

From what I have seen, I AM the epitome of the 'usual Obama voter'!

Only thing you got right is that global warming is a hoax of immense proportions.
freebird

Spring, TX

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#13
Apr 1, 2010
 
Mac-7 wrote:
"In proposing a major expansion of offshore oil and gas development,"
This isn't a very big deal.
Obama is just allowing exploration in a very small area out of what will be left unexplored.
And exploration does not mean drilling any time in the near future, if ever at all.
I very unimpressed with his almost empty gesture.
SORRY,COULD YOU EXPLAIN HOW YOU EXPLORE FOR OIL AND GAS IN YOUR WORDS WITHOUT DRILLING?

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#14
Apr 1, 2010
 
One think about Obama however.

If straw men were medieval creatures Obama would be the dragon slayer par excellence.

Because every time he talks about his energy plan he tries to paint those supporting offshore drilling as people who think it will provide all our energy needs while he - all seeing, all knowing that he is - and only he realizes that it will not solve all our energy needs.

Most Americans understand that we have to develop many different sources of energy and just drilling for oil is not enough.

But only Obama is so disconnected with the public that he thinks they think oil is all we need.
freebird

Spring, TX

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#15
Apr 1, 2010
 
Mac-7 wrote:
One think about Obama however.
If straw men were medieval creatures Obama would be the dragon slayer par excellence.
Because every time he talks about his energy plan he tries to paint those supporting offshore drilling as people who think it will provide all our energy needs while he - all seeing, all knowing that he is - and only he realizes that it will not solve all our energy needs.
Most Americans understand that we have to develop many different sources of energy and just drilling for oil is not enough.
But only Obama is so disconnected with the public that he thinks they think oil is all we need.
NICE TRY,NOW COULD YOU PLEASE EXPLAIN HOW TO EXPLORE FOR OIL AND GAS WITHOUT DRILLING?

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#16
Apr 1, 2010
 
Leria wrote:
<quoted text>
Excuse me, but I supported Obama, are an extreme liberal, and DO want to drill for oil in this country, though I do want it to be done in the most eco-friendly way we currently know how to do it, thank you.
From what I have seen, I AM the epitome of the 'usual Obama voter'!
Only thing you got right is that global warming is a hoax of immense proportions.
I said the typical liberal is against drilling for oil in America.

Unfortunately I still think that is true which makes you an atypical lib on that topic.

But I welcome your support on this issue because oil production is good for America, and that includes liberals who voted for Obama.

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#18
Apr 1, 2010
 

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freebird wrote:
<quoted text>SORRY,COULD YOU EXPLAIN HOW YOU EXPLORE FOR OIL AND GAS IN YOUR WORDS WITHOUT DRILLING?
The science of oil production is very advanced and I couldn't begin to tell you all the tricks they use but they usually don't drill until after all the tests are completed and they are pretty sure they will find oil.

And one reason for that if you think about it is that the offshore riggs are so massive and so expensive that they can't just tow them around drilling random holes in the ocean floor while hoping for a gusher.
freebird

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#19
Apr 1, 2010
 

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Mac-7 wrote:
<quoted text>
The science of oil production is very advanced and I couldn't begin to tell you all the tricks they use but they usually don't drill until after all the tests are completed and they are pretty sure they will find oil.
And one reason for that if you think about it is that the offshore riggs are so massive and so expensive that they can't just tow them around drilling random holes in the ocean floor while hoping for a gusher.
MAC SIR! I SPENT 25YRS DRILLING FOR OIL IN 17STATES AND 21COUNTRIES I KNOW VERY WELL AS YOU PUT IT (oil production is very advanced)IF WHAT YOU KNOW ABOUT OIL EXPLORIATION WAS GASOLINE YOU COULD NOT RUN A PISS ANTS MOTORCYCLE AROUND THE INSIDE OF A CHEERIO!!!!STICK TO WHAT YOU KNOW YOU LOOK IGNORANT AND PIOUS OTHERWISE!!!!!!!!!!

“Truth to Power!”

Since: Apr 07

Wake Forest, NC

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#20
Apr 1, 2010
 
freebird wrote:
<quoted text>SORRY,COULD YOU EXPLAIN HOW YOU EXPLORE FOR OIL AND GAS IN YOUR WORDS WITHOUT DRILLING?
What's wrong with drilling?

“Truth to Power!”

Since: Apr 07

Wake Forest, NC

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#21
Apr 1, 2010
 
Key drivers of oil exploration

Price of oil - The backdrop to all conversations about oil exploration is both the price, and the current worldwide proven reserves, of oil.

Taken together, these determine whether a specific exploration project will be economically attractive.

In particular, the higher the price of oil, the more expensive it can be to draw oil out of the ground and still make a profit. This makes smaller fields, more remote fields, and oil that require more processing all the more viable.

Technology - As one might imagine, the availability of computers and advances in seismic technology have drastically improved the process of oil exploration, which was once little more than drilling a well and crossing your fingers.

Advances have pushed the envelope of what is feasible, both in terms of finding where oil is and figuring out how to extract it once a company has identified where it is.

General Electric Company (GE), for example, offers "Intelligent Drilling" technology, while a variety of engineering and seismic services firms offer the latest in technology to find oil (e.g., 3D seismic mapping).

Availability of oil field services - The availability of equipment and qualified professionals to service it represents a genuine bottleneck in oil exploration.

The price of "oilfield services," which includes all the ancillary requirements for drilling and operating a well, rose 20% in 2006. Lack of availability of drill rigs (for drilling oil), skilled petroleum services professionals, seismic trucks, etc., can be a constraint in oil exploration. Note especially the increase in drill rig rental rates experienced around the world (chart on left).

In its Q4/2007 Earnings Call, Andrew Gould of Schlumberger pointed out that, worldwide, 93% of jackups, 97% of semi-submersibles, and 100% of drillships are currently being utilized, with very few new offshore rigs coming online in 2008. This makes significant offshore growth in 2008 relatively unlikely, as capital is already being used almost to capacity.

This lack of capital to meet demand will probably drive up oilfield services rates significantly.

“Did U plug the damn hole yet?”

Since: Jan 08

Mckinney, TX

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#22
Apr 1, 2010
 

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freebird wrote:
<quoted text>MAC SIR! I SPENT 25YRS DRILLING FOR OIL IN 17STATES AND 21COUNTRIES I KNOW VERY WELL AS YOU PUT IT (oil production is very advanced)IF WHAT YOU KNOW ABOUT OIL EXPLORIATION WAS GASOLINE YOU COULD NOT RUN A PISS ANTS MOTORCYCLE AROUND THE INSIDE OF A CHEERIO!!!!STICK TO WHAT YOU KNOW YOU LOOK IGNORANT AND PIOUS OTHERWISE!!!!!!!!!!
I think I'm more right about deepwater offshore drilling than you are willing to admit.

We'll just have to agree to disagree.

But I don't think the typical Obama voter is worried about the oil companies drilling dry holes.

On the contrary when we say "drilling" they are more worried about finding oil that they fear will turn the waters black with leaking oil.

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