Oil wont run out anytime soon

[alanschu]

No, they're just their own sect of society lobbying for change.

 

 

The annoying part for them is how often they cite quotations from tobacco executives from the 70s, and even the 60s.

[thepixiesrock]

I drew up a few perpetual motion designs a few years ago. I'll get around to building it eventually.

[alanschu]

Nice.

 

Though my designs run at greater than 100% efficiency (yes, by putting energy in, I end up getting more energy out! So once it starts, it will perpetually create energy. Conservation of Energy has been broken!).

[thepixiesrock]

Yeah, mine was designed to hook up to a turbine to create energy, I don't know how much would come out of it if it worked though.

[Judge Hades]

No, they're just their own sect of society lobbying for change.

 

 

The annoying part for them is how often they cite quotations from tobacco executives from the 70s, and even the 60s.

<{POST_SNAPBACK}>

 

That is because the tobacco executives today are just to emo.

[taks]

The annoying part for them is how often they cite quotations from tobacco executives from the 70s, and even the 60s.

<{POST_SNAPBACK}>

IMO, the annoying part is that the government forced the tobacco companies to fund what amounts to the most vitriolic attack ever seen on a product people clearly want. "the truth" is funded by tobacco companies. it's almost hypocritical.

 

taks

[alanschu]

Hahaha. I didn't know that.

[metadigital]

Yeah, mine was designed to hook up to a turbine to create energy, I don't know how much would come out of it if it worked though.

<{POST_SNAPBACK}>

Well, the hydrogen bomb is just a fusion reaction out-of-control ... needs a little warmth to kick-start it (say, a fission reaction) ...

[taks]

yeah. it's a joke. they are prohibitied from advertising their own legal product, and they have to fund an organization that is legally allowed to slander them. the ultimate in hypocrisy. meanwhile, in an even more hypocritical move, their product is probably the most heavily taxed (except maybe alcohol and gasoline) in the free market.

 

taks

[metadigital]

... And it's great for giving succour to the working classes that must toil in the engines of society, surely one of their few pleasures.

[The Illuminator]

Linky

 

Sep 5, 10:39 AM (ET)

 

By BRAD FOSS

 

WASHINGTON (AP) - Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies announced Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves by as much as 50 percent.

 

The Jack 2 well was drilled about 5.3 miles deep by U.S. oil company Chevron Corp. (CVX), with partners Statoil ASA (STO) of Norway and Devon Energy Corp. (DVN) of Oklahoma City. During the test, the Jack 2 well sustained a flow rate of more than 6,000 barrels of oil per day, Statoil said.

 

"Test results are very encouraging and may indicate a significant discovery. The full magnitude of the field's potential is still being defined," Statoil said in a statement.

 

The discovery has industrywide implications, analysts said.

 

 

"They may be the first ones to hit the jackpot, but if the current thinking is correct, this is only a beginning. Other companies will emerge as good, or better," said Oppenheimer & Co.'s Fadel Gheit.

 

The successful test wells do not mean a huge supply of oil will hit the market anytime soon. Gheit estimated that the first production might not come on line until after 2010, depending on how many more test wells the companies drill.

 

The Wall Street Journal reported in Tuesday's editions that the region where the well is located could become the nation's biggest new domestic source of oil since the discovery of Alaska's North Slope more than a generation ago.

 

The Journal said Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico's lower-tertiary formations hold up to 15 billion barrels of oil and gas reserves, a total that would boost the nation's current reserves by 50 percent.

 

The well was drilled in the Walker Ridge area of the Gulf, about 270 miles southwest of New Orleans and 175 miles off the coast. It followed up a discovery made by Chevron in 2004.

 

"This area is one of the new and promising deep-water areas in the Gulf of Mexico," said Oivind Reinertsen, senior vice president of Statoil's Gulf of Mexico assets in Houston.

 

"The Jack 2 well test data are encouraging and may form the basis of future development projects in Walker Ridge," he said.

 

In a separate statement, San Ramon, Calif.-based Chevron said the well set a variety of records, including the deepest well successfully tested in the Gulf of Mexico. Chevron said the well was drilled more than 20,000 feet under the sea floor below 7,000 feet of water for a total depth of 28,175 feet.

 

Chevron has a 50 percent stake in the field, while Statoil and Devon own 25 percent each.

 

Shares of Devon rose $6.10, or 9.5 percent, to $70.25 in early trading on the New York Stock Exchange, near the top end of the stock's 52-week range of $48.94 to $70.35. Shares of Chevron rose $1.02, or 1.6 percent, to $65.85.

 

 

I feel this discovery point out something often forgotten, that 70% of the Earth is covered by water. Considering that simple fact it seems extremely unlikely that oil will "run out" anytime soon. After all, we still havent discovered all the oil fields on land much less what lies underwater and with so much of the Earth under water, well, just do the math.

<{POST_SNAPBACK}>

 

I know that in the north, east, south and southeast parts of turkey is full of oil but british-american companies are not allowing turks to use it maybe cuz of racist governments of that countries not wanting turkish economy to develop for their dirty political aims. they are provoking especially south-eastern citizens of turkey. maybe they want another puppet country which may use that oil located on that part of turkey, however I think it is not an easy job to bite that region of turkey as turks don't watch like iraqean or lebanonian army when someone attacks to their lands.

 

I'm sure there are other parts of the earth full of oil which has not been officially announced like turkey's oil resources cuz of dirty political games.