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 : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: d[-_-]b who wrote (392527)	6/19/2008 3:31:49 PM
From: J_F_Shepard	Read Replies (1) \| Respond to of 1576160

"significant quantities of resources in yet-to-be-discovered fields" Let's not too excited about the immediacy of "yet to be discovered oil".... There is a significant chance it isn't there. Also MMS is a Dept. of Interior agency...the DOE doesn't support those numbers...

To: d[-_-]b who wrote (392527)	6/19/2008 3:47:58 PM
From: Don Hurst	Read Replies (1) \| Respond to of 1576160

>>" The offshore areas of the United States are estimated to contain significant quantities of resources in yet-to-be-discovered fields. "<< Oh this is just too great...the quantities are oh so immense in fields that don't exist yet but not too worry, we can trust that they will exist as soon as someone "discovers" these currently non-existent fields. But hey, no doubt these guys, Oynes and LaBelle, previously gained valuable "estimating" experience providing post Iraq invasion budget numbers to Wolfowitz.

To: d[-_-]b who wrote (392527)	6/19/2008 4:49:31 PM
From: tejek	Read Replies (1) \| Respond to of 1576160

The offshore areas of the United States are estimated to contain significant quantities of resources in yet-to-be-discovered fields. MMS estimates of oil and gas resources in undiscovered fields on the OCS (2006, mean estimates) total 86 billion barrels of oil and 420 trillion cubic feet of gas. These volumes represent about 60 percent of the oil and 40 percent of the natural gas resources estimated to be contained in remaining undiscovered fields in the United States. Eric, its pie in the sky. First oil reserve estimates have been notoriously bad in the past, overestimating reserves, and secondly, where there is oil, often it can not be economically retrieved at even $130 per barrel. We have to play with the cards we have; not the cards we hope we have.