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| Drilling for Oil - The 10 Year Myth! | |
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| Tweet Topic Started: Jul 16 2008, 10:17 AM (517 Views) | |
| yawnzzz | Jul 28 2008, 07:38 PM Post #46 |
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Coach
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I've never really thought you knew nothing, but pretending like it's fact that the price of oil will drop below market due to a few very rough calculations and then belittling others for their lack of knowledge got on my nerves. I've never argued that it won't go down, but below market is too far fetch for me at the moment. Truthfully, I think the price will go back up when drilling starts showing its first results. That may seem odd, but I don't believe there's as much 'obtainable' oil as the speculators are reacting to. Obtainable is the key word. There's a lot of oil that could be drilled for, but when you factor in the cost of drilling in certain areas, it will greatly deter oil companies from taking the risk. |
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| Mr Gray | Jul 28 2008, 10:22 PM Post #47 |
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Coach
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fair enough.....I just took offense because I spend a lot of time researching this, but water under the bridge. Curious though, what makes you think that we don't have enough oil as they think? I have found that the magnetic and sonar equipment they now have is extremely accurate in predictint where and how much oil is out there. |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| yawnzzz | Jul 29 2008, 09:25 AM Post #48 |
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Coach
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It's not a question of the amount of oil. It's a question of the amount of oil that can be obtained at a reasonable cost. A large chunk of the oil is in extremely difficult areas to drill, and will require a lot of investments in newer technology to obtain the oil. |
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| Mr Gray | Nov 11 2008, 12:32 PM Post #49 |
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Coach
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:rofl: :rofl: :rofl: I had to go and find this thread.....maybe "he who is correct about dinosaurs" should start address me as " he who is correct about gas prices". "Pipe dream"... :rofl: :rofl: I think there are a few other ones out there where hog and faithful also told me I was crazy, and we would never see prices below $2 again. |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| Mr Gray | Nov 11 2008, 12:35 PM Post #50 |
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Coach
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:rofl: :rofl: :rofl: |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| Mr Gray | Nov 11 2008, 12:36 PM Post #51 |
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Coach
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sorry faithful....but I had to do it |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| boilergrad01 | Nov 11 2008, 12:41 PM Post #52 |
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Working on the last 5
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AaronK, The drop in price is due to demand decreasing not because we fixed the supply problem. It is because people choose not to travel as much. I could provide links but tourism is down nationwide. |
| Nothing beats an Astronaut | |
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| eelbor | Nov 11 2008, 12:45 PM Post #53 |
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Zen Master
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Uhhmm, Aaron? Your assessment was that offshore drilling would lower the price of gas below 2$ a gallon, not that a stagnant economy would do the job for you. Nothing has been 'fixed'. |
![]() "Liberal, shmiberal. That should be a new word. Shmiberal: one who is assumed liberal, just because he's a professional whiner in the newspaper. If you'll read the subtext for many of those old strips, you'll find the heart of an old-fashioned Libertarian. And I'd be a Libertarian, if they weren't all a bunch of tax-dodging professional whiners." - Berkeley Breathed Meat is Murder. Sweet, delicious murder. | |
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| Mr Gray | Nov 11 2008, 12:46 PM Post #54 |
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Coach
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increased supply or decreased demand creates the same affect that I was preaching about. A sell-off in the futures market, bringing prices drastically down, and even below market value for a short period of time. Exactly what is happening ;) |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| hoosierinhogville | Nov 11 2008, 12:58 PM Post #55 |
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Coach
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I was skeptical, though didn't come out and just flat out say you are wrong. As noted though you are only half right. It has dropped to 2, but a lot of that is because decreased demand. So, you get half credit. B) Oh, and speaking of gas prices, I don't know what you guys are seeing up there, but at Kroger's down the road it is 1.87. |
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| boilergrad01 | Nov 11 2008, 01:03 PM Post #56 |
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Working on the last 5
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AaronK the demans side has been affected if we have done nothing to fix the problem and when demand returns prices will soar again. I agree it is a supply/demand relationship but we S+D=price formuls we solved for D not S we need to solve for S before the economy fixes D and prices shyrocket back up. I think you agree and I agree we need to increase domestic production but not just for the cheaper gas but because energy is a part of the failing economy and national security American prosperity relies on E(economy)+ O (energy) + natinal security= prosperous America right now we are 0-3 on these issues and hence the country is in a very negative view. Drilling Domestically creates American jobs lowers the price of Energy and increase national security. So I agree we need to drill in America but not just to lower gas prices but to increase national security and create jobs |
| Nothing beats an Astronaut | |
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| Mr Gray | Nov 11 2008, 01:38 PM Post #57 |
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Coach
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I'm not arguing the fundamentals of the decrease with you BG1...I'm just being a smart ass and proving a point that with increased supply or decreased demand (same affect) speculators will drive the price down to prices even below fair market value for some time, which is what i said before and what we are seeing now. |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| boilergrad01 | Nov 11 2008, 01:57 PM Post #58 |
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Working on the last 5
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AaronK, We agree. It just blows my mind why You and I and others on the board get it but the 545 elected assclowns in DC can't figure it out???? |
| Nothing beats an Astronaut | |
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| Mr Gray | Nov 11 2008, 02:49 PM Post #59 |
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Coach
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because we only have our own hands in our pocket....big difference |
![]() The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism. | |
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| yawnzzz | Nov 11 2008, 02:56 PM Post #60 |
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Coach
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Well, you were right about it dropping so low, but it has nothing to do with your argument. If your argument was coming true I'd be ecstatic, but the real cause of the drop leaves me pretty frightened. |
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