So.........is ANYONE going to talk about the recent OIL FIND??

[bassin_bug]

Is this true? How do we know this? I have heard nothing but speculation. What makes you think prices would drop? What would keep them from selling all of the oil found in the US across the big pond to China and India?

Either way, I would rather see us spend more money on alternative energy development that can last, rather than drilling on speculation for something that is a finite resource.

Tim, you are on target with your statement. I was getting ready to write something similar but you said about what I was going to say.

As to the bold statement by Kyfanatic about oil refineries, anyone in the industry will tell you that refineries must be built close to the producing oil field because it is not feasible to do it otherwise. Just because a person drives by multiple refineries doesn't mean that, because they can count them, that there are sufficient numbers to refine the oil. Unless he is in a position to see the records, he's just speculating and doesn't know how the oil production industry functions. Most of the refineries that were alluded to in Louisiana were damaged by hurricane Katrina, some have been repaired but others have not.

There are 2 refineries within a mile of my house and neither of them collect the natural gas from the oil. Instead they burn it off and it goes into the environment through a blue flame that constantly burns.

In the last few years, research has shown that oil is a renewable resource and is no longer believed to be derived from fossils. The oil field that is 8 miles from my house was shut down more than 40 years ago because the wells were 'dry.' That field has been reopened and is producing more oil now than it did originally. I wonder if they were really dry or if something else was going on in the board rooms and in secret meetings.

[kyfanatic]

Tim, you are on target with your statement. I was getting ready to write something similar but you said about what I was going to say.

As to the bold statement by Kyfanatic about oil refineries, anyone in the industry will tell you that refineries must be built close to the producing oil field because it is not feasible to do it otherwise. Just because a person drives by multiple refineries doesn't mean that, because they can count them, that there are sufficient numbers to refine the oil. Unless he is in a position to see the records, he's just speculating and doesn't know how the oil production industry functions. Most of the refineries that were alluded to in Louisiana were damaged by hurricane Katrina, some have been repaired but others have not.

There are 2 refineries within a mile of my house and neither of them collect the natural gas from the oil. Instead they burn it off and it goes into the environment through a blue flame that constantly burns.

In the last few years, research has shown that oil is a renewable resource and is no longer believed to be derived from fossils. The oil field that is 8 miles from my house was shut down more than 40 years ago because the wells were 'dry.' That field has been reopened and is producing more oil now than it did originally. I wonder if they were really dry or if something else was going on in the board rooms and in secret meetings.

I gave you a link to records of nationwide refineries.There are refineries along the Ohio river that are not next to oil fields,oil is shipped.Ever heard of a supertanker? As far as the dry well,they have always drilled producing wells,capped them,then started production during more profitable times by using a workover rig.You take a shot by saying I don't know the industry,but I worked on a drilling rig from 1978 until 1986 and spent another 2 years working oil field service work,what are your qualifications?

[kyfanatic]

While I agree that it is wise to seek alternative energy,I stand by the fact that you don't do so at the cost of breaking the country during a depression,you can call it whatever you want ,but it is a depression,thoings are not so good out there and most likely won't be for some time,so we shut down the oil field,the coal mines,and related jobs,makes sense to me.......
While families are struggling let's up the ante and bleed some more money out of them in the name of Green.

I think you gents and ladies would be surprised to see the real estimates of how much.and how long "known" natural resources would last at current usage,of course let's keep investing in China,India,etc to let the rich get richer and the middle class crumbles.

[Tim_T]

While I agree that it is wise to seek alternative energy,I stand by the fact that you don't do so at the cost of breaking the country during a depression,you can call it whatever you want ,but it is a depression,thoings are not so good out there and most likely won't be for some time,so we shut down the oil field,the coal mines,and related jobs,makes sense to me.......
While families are struggling let's up the ante and bleed some more money out of them in the name of Green.

I think you gents and ladies would be surprised to see the real estimates of how much.and how long "known" natural resources would last at current usage,of course let's keep investing in China,India,etc to let the rich get richer and the middle class crumbles.

First, this is not a depression, far from it. Secondly, nobody is saying shut down the oil fields, coal mines or anything else.

My point is two fold #1 allow them to drill in an environmentally safe way, even if it hurts profits a little. They can do it safely and with as little impact as they want, but it the shareholders lose a few dollars and would rather risk harm to workers and the environment for the sake of optomizing profits. I will use mountain top removal mining as an example. The only reason it exist is because it saves the company time and money. Remove 2000 feet off a mountain to do something they could have done without removing the mountain top. All to save a few dollars. Oil companies can drill cleaner and with less impact as well, but they won't because it cuts into their profits.

#2 In the meantime while all the drilling is going on, have scientist doing REAL research on alternative, renewable energy sources that maybe my grandson and his generation can use.

[bassin_bug]

I gave you a link to records of nationwide refineries.There are refineries along the Ohio river that are not next to oil fields,oil is shipped.Ever heard of a supertanker? As far as the dry well,they have always drilled producing wells,capped them,then started production during more profitable times by using a workover rig.You take a shot by saying I don't know the industry,but I worked on a drilling rig from 1978 until 1986 and spent another 2 years working oil field service work,what are your qualifications?

At no time did I "take a shot" and say you do not know the industry. That was your confession.

I've SEEN supertankers and I know about UNDERWATER pipelines for offshore wells. I'm very familiar with the industry and have had friends and relatives knocked off decks in the Gulf and killed. You misread my comment about dry wells. Oil was pumped from those wells from 1948 when the field was first discovered until sometime in the late 1960s and then they were declared dry. Now they are reopened and producing plenty of oil. i'm glad that your claim to fame is that you were a rig worker and got promoted to greasing pumping equipment. It takes lots of people assuming various jobs so we can enjoy the benefits of driving our gas guzzlers. Thank you for your 10-year contribution.