Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (246209)	4/17/2008 4:57:02 PM
From: michael97123	Respond to of 793927

Being part of the green movement doesnt bother me if we can start to reduce worldwide dependence on saudi and arab oil. Russians should be helping us more because theoretically if we throw technology at it we will hurt them too.

To: LindyBill who wrote (246209)	4/17/2008 5:07:19 PM
From: skinowski	Read Replies (1) \| Respond to of 793927

First step energy independence Impossible. Agree. I've been interested in this issue for some years now, and I believe that this concept of "independence" is indeed a Chimera. We will be forced to make adjustments in the way we use energy, but no "renewable" resource will come close to allowing us to go on living as if stores of energy out there are unlimited. If anyone wants to get a big car or truck - lease it, don't buy it. The way things go, some years down the road it may not be easy to sell it.

To: LindyBill who wrote (246209)	4/18/2008 8:07:52 AM
From: Bridge Player	Read Replies (1) \| Respond to of 793927

We need to seize the House of Saud by the throat and force them to pump more. That may help prices for a few years, but is hardly a long-term solution looking out 10-20+ years, given the petroleum global supply/demand picture.

To: LindyBill who wrote (246209)	4/22/2008 1:17:58 AM
From: Snowshoe	Respond to of 793927

>>We need to seize the House of Saud by the throat and force them to pump more.<< Saudis Face Hurdle In New Oil Drilling Big, Complex Field Seems to Mark End Of Easy Pickings By NEIL KING JR. April 22, 2008 Next year, if all goes well, Saudi Arabia will turn the spigots on the largest oil field to come online anywhere in the world since the late 1970s. The Khurais complex, sprawling across a swath of red dunes and rocky plains half the size of Connecticut, is expected to add 1.2 million barrels a day to an oil market caught between growing demand and a paucity of significant new discoveries. The twin forces have led to historically high prices for crude oil, which settled at a record $117.48 on Monday. But the project also illustrates a darker point: Even in Saudi Arabia, home to more than a quarter of the world's known recoverable reserves, the age of cheap and easily pumped oil is over. To tap Khurais, Saudi Arabian Oil Co., known as Aramco, has embarked on the most complex earth- and water-moving project in its history. It is spending up to $15 billion on a vast network of pipes, oil-treatment facilities, deep horizontal wells and water-injection systems that it calls "one of the largest industrial projects being executed in the world today." Moreover, with the project, Aramco is dipping into one of its last big basins of oil. After Khurais, Saudi Arabia will have only one known mega-field left to fully develop, the even more challenging Manifa field, offshore in the Persian Gulf. Much of the kingdom's reserves beyond these lie either in aging fields or smaller pockets. "Khurais and Manifa are the last two giants in Saudi Arabia," says Sadad al-Husseini, a former Aramco vice president for oil exploration. "Sure, we will discover dozens of other smaller fields, but after these, we are chasing after smaller and smaller fish." Full text: Message 24520697 Original: online.wsj.com