John Re...No, you haven't proved that off-shore exploration, building a platform, manning a platform, and transporting the oil is cheaper than OPEC. And you haven't proved that there are massive offshore oil reserves that can be exploited.
Where did I ever say that. Here is my post to you.
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To:John Fowler who wrote (184096)
From: hmaly Thursday, Mar 4, 2004 3:39 AM
View Replies (1) | Respond to of 184144
John Re...The new sources of oil are not increasing as fast as the world demand for oil. At the same time, the oil that is available, from SA and other oil producing countries, is getting more expensive to produce. Iraq is the last place on earth with "easy, cheap" oil that hasn't been exploited (what a coincidence).
I doubt if that statement is true. After all, the oceans cover 2/3 of the earths surface, and only a small fraction has been explored so far. As far as costs, when you add in OPEC charges, the cost to the US isn't exactly cheap. Most ocean drilling costs come in under 1/2 the price of OPEC rates, so in total, a lot of ocean finds, assuming there are no royalties, could be a lot cheaper.
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You will note that I said offshore drilling costs were less than 1/2 costs of OPEC oil. And my link showed,offshore drilling costs were $8/bbl found. $8/bbl is less than 1/4 of current OPEC prices of $36.75, so I was correct by a wide margin. I made no other specific claims, as to the rest of the costs, however, the cost of the platforms, pipes, manpower, etc, are factored in the drilling costs/bbl. You have to ship OPEC oil also, so what is the difference.
And you haven't proved that there are massive offshore oil reserves that can be exploited.
Nor did I make that claim. I only said the oceans cover 2/3 of the earths surface, and only a small fraction of that area has been explored. What are the odds, with 2/3 of the earths surface under water, that there wouldn't be?
Frankly you are swimming against the tide of the experts... but maybe you know better.
Surely you aren't talking about that link you posted, from the forest products company. They didn't even list any oil, that has been found, or might be found offshore; which goes to show you, how much they know. They are just trying to get you to invest in their wood pellets, for a future source of energy. Look at the other pages on their site.
If you are really interested in investing in oil companies, which do offshore drilling, look it up yourself. I did, and certainly you lefties, are just as capable as us concrete guys. |
