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oil drilling

Discussion in 'Off Topic Threads' started by dbcook, Feb 23, 2009.

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  1. dbcook

    dbcook TS Member

    Jan 23, 2007
    since oil prices have dropped significantly, have the drillers gave up on drilling in the dakotas & eastern montana in the bakkans? & how about western colorado where the huge oil reserves are? thanks dwain
  2. Fast Oil

    Fast Oil TS Member

    Jan 29, 1998
    Obama?s 'Extreme Team' On Energy
    Friday, February 06, 2009
    By Ben Lieberman

    ...In addition to opposing domestic drilling for conventional oil, Salazar was also responsible for legislation blocking the development of oil shale. America has vast amounts of this oil-containing rock, mostly beneath federal lands in Colorado, Utah and Wyoming. The process of efficiently extracting this oil is still being improved; oil shale is a long-term project with uncertain prospects at this time. But if successful, it could provide literally hundreds of billions of barrels, exceeding the reserves in Saudi Arabia and providing enough oil to supply the United States for many decades.

    As secretary of the interior, Salazar will have even more chances to stop cold any progress on oil shale, and with it our best hope for a dramatic increase in domestic oil production.
  3. pikepoola1racer

    pikepoola1racer Member

    Feb 22, 2008
    I dont think that they gave up, I think that all the rigs took off, to where they know their is oil, and they can make better monney.
    Thanks, Sam
  4. Old Texas Marine

    Old Texas Marine Member

    Apr 6, 2008
    I am not in the oil business, but in North Texas it is hard to be completely insulated from what is going on. Most of the drilling companies have stacked about half of their rigs. The demand to drill by the oil companies is waay down.

    A trap club of which I am a member had a lease with a major oil company that had one-year to drill or pay $100,000 in penalty and lose the lease. The company wrote the check rather than drill. A well runs about $2 to 2.5 mil to complete. $37.00 oil and $7.00 natural gas has companies cutting way back. On existing leases they are just drilling the number of wells to keep the leases in place. There are full tankers all over the world anchored out waiting for the price to rise before selling.

    This holding oil off the market has caused our reserves to finally drop a bit and the natural gas lines are no longer at capacity. The refiners have dropped their capacity into the 80% range to do maintenance.......and keep the price of diesel and gasoline up.

    At least the speculators are somewhat out of the oil market. Oil was never worth $140 a barrel and it is certainly worth more than $37 now. If we can keep the gov't and the speculators out of the deal we can have a healthy supply and a price that everyone can live with. It is pretty apparent that the Oil Cartel no longer can control the price of oil. They talk about cutting production , but their members don't because the tin-pot dictators wan the money now to prop up their regimes. This is a very good thing for the world markets. It may be a destabilizing factor politically, though.

    This is an amateur's opinion.

  5. highflyer

    highflyer TS Member

    Feb 1, 2006
    We aren't going to need any more oil or coal for that matter. We are going green. All our energy will come from solar and wind. With millions of new jobs created in those two industries. Thank you Obama. You will plug in your cars. No more global warming. No more dirty industry.
  6. halfmile

    halfmile Well-Known Member

    Jan 29, 1998
    Green Bay Wisconsin
    Highflyer, you need more catnip.

    Last year I was PD shooting in Wyoming, and we went through an area where all the wells had been upgraded, with new pumps, containment walls, the whole 9 yards.

    No one around. and not a single one of those pumps was running. Eleswhere, some older ones were just pumping right along.

    I guess they didn't need the new stuff but were getting ready just in case. Gas was around 3.75 at the time.

  7. 525 KID

    525 KID TS Member

    Jul 5, 2007
    If you think oil will not go thru the roof in the next couple of years then this country has a big shock coming!!!! 147.00 was nothing to whats coming down the road at us??? What we are seeing right now is only the calm before the storm!!! enjoy it while you can....
  8. slide action

    slide action Well-Known Member

    Jan 29, 1998
    Obama and the liberals renigged on many of the North American oil leases. Many of these leases had already been given and Obama and his goons just pulled the plug on them. Some were very promising. Polosi and the other liberal IDIOTS keep harping that there are already areas the oil companies could drill, but the Dumb A$$ B!^&h and her moron liberal pals can't get it through their stupid heads that oil drilling id EXPENSIVE and no company is going to try in in aan area where the odds are there will be nothing but a DRY HOLE!
  9. bigdogtx

    bigdogtx Well-Known Member

    Aug 5, 2006
    hm,,,,just so you know,,,,oil wells do go dry once in a while,,,,maybe that's why they don't always pump????
  10. ljutic231

    ljutic231 TS Member

    May 18, 2007
    Most of the oil companies has shut down drilling until the price per day on the rig goes down. 42 years in the Oil Fields.
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