Oil Sands and Related Stocks Message Board

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Gold/Mining/Energy : Oil Sands and Related Stocks

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To: Carpe per Diem who wrote (7349)	3/2/2006 3:25:08 PM
From: Wyätt Gwyön	Read Replies (1) of 25575

Makes one wonder why oil majors spend $500K/day to lease a drilling platform to drill wildcat wells vainly searching for oil, when they could pony up cash and just buy land or other oilsand cos i think a lot comes down to timeframe and investment. Chevron will spend MANY BILLIONS in development, and it will take 10 YEARS to get operational, and after all that, ultimate production will be... 100,000 barrels a day. that's right, the proverbial drop in the bucket. it is a massive commitment of time and capital, and the net result is not a lotta oil. certainly less than CVX will be losing on other fronts. the supergiant fields of the world will lose more than 100Kbpd in production every month between now and when CVX sands start producing. to me, this is a testament to the value of the currently operational high-volume oil sands, namely Syncrude and SU. it also indicates that the oil sands are not going to be the ace in the hole to save the world from peak oil. production ramp-up is too little, too late.

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