Recent Oil Discoveries

[Dr. Shane]

Some recent discoveries

2007 Brazil 70bn-100bn barrels

2007 North Dakota 200bn barrels

2006 Gulf of Mexico 10-15bn barrels

2000 Caspian Sea 15-29bn barrels

[Bravus]

Heh - not sure what kind of greenie I am now: bought shares in PetroBras, the Brazillian oil company, a couple of days ago. Already making serious money on it... at the possible peril of my green soul.

But yeah, it's possible peak oil has been postponed a bit, which is a good thing for our kids being able to continue something like our current lifestyle. What we *should* be doing with that reprieve is putting the money and energy into finding alternatives so that when we *do* run out of oil the transition can be fairly seamless, rather than a massive crash that puts us back a couple of hundred years...

[jasd]

>>...bought shares in PetroBras, the Brazillian oil company,”

I’ve wondered why our Blue-Staters prefer to whizz and moan about the profits our major oil producers are making, rather than simply investing in those companies; being, the while,

thankful for finding a 'sure thing' to add to their portfolio. (wait until they find out that, internationally, over 95% of food oils are owned and/or controlled by only two Corporations!)

>>...at the possible peril of my green soul.<<

I’ve also wondered at the logic of our Blue-Staters who embrace mandated corn ethanol with production costs of $1.25 - to produce an end product having an end value of $1.00.

>>But yeah, it's possible peak oil has been postponed a bit, which is a good thing for our kids being able to continue something like our current lifestyle.<<

Ahh, lots of oil in the ground* but – what’s the lag-time to bring it online versus increasing demand? Therein, itself, (without mention of the lack of refineries; again, lag-time) may be ‘Peak oil’. That said,

we have, additionally (without mention of our giving the vast oil fields contiguous to Wrangle Island – to the former Soviet Union), large reserves of gulf coast oil, Alaskan oil, [and other], the where-with-all to synthesize oil from coal**, shale, and oil sands – as well to simply uncap our multiplied thousands of wells. Where formerly unfeasible, those same wells can now be economically brought online – as current flywheel technology permits pumping the heavier or sludgy petroleum that was capped for reasons of economy.

* (additionally, there are those who assert petrol is abiotic in origin)

** (Utah coal is to petroleum what Libyan or Nigerian oil is to the world market; that is, the standard. Such coal, ground to a measured fineness, with, or perhaps without, a bit of accelerant added, would simulate diesel – no refineries needed – just scrubbers for the exhaust. So, why does our govn’t lock it up in an environmental reserve – with its spillover being shipping to China?)

And now, as of last week, the USofA is no longer caching to our Nat’l Strategic Petroleum Reserve!

Policy rules – but who rules Policy? (can anyone say conspiracy!?)

>>What we *should* be doing with that reprieve is putting the money and energy into finding alternatives so that when we *do* run out of oil the transition can be fairly seamless, rather than a massive crash that puts us back a couple of hundred years...<<

Hear! Hear! However, where America is concerned – better we should worry about our lack of Strategic Minerals; like, paucity!? ...try absence (example: stainless steel*** contains, roughly, up to ‘bout 35% chromium {depending on quality of the stainless steel being smelted}; yet, for practical purposes, we have only a miniscule amount in ground – with Alaska being an unknown... Therein, the argument exists

that we oughta tear the bejiminy out of Alaska – exploring to locate and to ensure accessibility, with an eye to the possibility that we may, sometime future, face an embargo of aforesaid strategic minerals. (The three major deposits of chromium ore lie with Southern Africa, Turkey, and the former USSR. Are they reliable – or friends?) Oh,

80% of world manganese is in So Africa (manganese is used to collect the dross in the smelting process; which, without its removal – leads to brittle (read: undependable) steel).

*** (without stainless steel, America's society - military included - would be 'kicked-backwards' approx 75 years)

[Bravus]

Oh, I'm with you on ethanol - it's a horrible solution, based on feelgood and seeming to be doing something while actually creating a whole series of new problems. I'd add that the fact that one alternative energy solution is bunk doesn't mean all of them are. By all means let's get rid of ethanol - and find better solutions.

On abiotic oil, see the 'Oil Origins' thread in the Origins forum, for a post from the scientist who did the science.

[jasd]

Oy! surprised, that you made any sense of my post - as I've been 'proofing' online - correcting a whole bunch of errors.

The thing that ought concern the Oregonian about 'mandated corn ethanol' is - that legislation passed here requires gasoline at the pump - contain a percentage blend. It is bruited that

corn ethanol in gasoline corrupts 'stored' gasoline - with or without stabilizers.

No gasoline storage, no emergency 'bug-out-get-lost' scenario for Oregonians...

except by available gasoline or by mare's shank.