New study claims US has 26% of worlds untaped oil

Godfather.

http://www.foxnews.com/politics/2012/04 ... latestnews


:shh:


Godfather.

klusterfuk

would not be a surprise.

javis el errante

whether it's true or not, if they are not going to press vinyl with that oil, it can remain tapped...

81

if you dig a little further, you will find my ass contains 5% of the world's natural gas.

Smellyman

But a U.S. Geological Survey released Wednesday paints a seemingly different picture. The analysis showed the world outside of the U.S. holds 565 billion barrels of undiscovered conventional oil -- it was the first such study in 12 years. The study did not address U.S. resources, but a prior analysis by the Energy Information Administration pegged the country's supply at 198 billion barrels. That works out to 26 percent of the world supply.


Yes that is exactly what this "new study" says.

:roll:

curly

Ya...lets just save it til its not worth anything?...

Synthetic will soon replace it.... and then we'll try an hurry and sell it b4 its too late...

talking out of my ass naturally....but could that happen?...honestly, i dont know enough bout it??

One thing i do know...Greed brings on a lot of bad karma...no matter who you are...

hedonist

81 wrote:

if you dig a little further, you will find my ass contains 5% of the world's natural gas.

inlet13

Smellyman wrote:

But a U.S. Geological Survey released Wednesday paints a seemingly different picture. The analysis showed the world outside of the U.S. holds 565 billion barrels of undiscovered conventional oil -- it was the first such study in 12 years. The study did not address U.S. resources, but a prior analysis by the Energy Information Administration pegged the country's supply at 198 billion barrels. That works out to 26 percent of the world supply.


Yes that is exactly what this "new study" says.

:roll:

Ha ha.,...

How exactly do we know exactly how much is "undiscovered"? This topic is so incredibly ridiculous.

Godfather.

81 wrote:

if you dig a little further, you will find my ass contains 5% of the world's natural gas.

mybe you should go see a doctor about that I'm sure they (for thier normal fee) would happy to dig a little futher up yer ass....maybe even find those lost car key's for ya


Godfather.

Godfather.

inlet13 wrote:

Smellyman wrote:

But a U.S. Geological Survey released Wednesday paints a seemingly different picture. The analysis showed the world outside of the U.S. holds 565 billion barrels of undiscovered conventional oil -- it was the first such study in 12 years. The study did not address U.S. resources, but a prior analysis by the Energy Information Administration pegged the country's supply at 198 billion barrels. That works out to 26 percent of the world supply.


Yes that is exactly what this "new study" says.

:roll:

Ha ha.,...

How exactly do we know exactly how much is "undiscovered"? This topic is so incredibly ridiculous.

http://science.howstuffworks.com/enviro ... lling2.htm

maybe this will help.

Godfather.

inlet13

Godfather. wrote:

inlet13 wrote:

Smellyman wrote:

But a U.S. Geological Survey released Wednesday paints a seemingly different picture. The analysis showed the world outside of the U.S. holds 565 billion barrels of undiscovered conventional oil -- it was the first such study in 12 years. The study did not address U.S. resources, but a prior analysis by the Energy Information Administration pegged the country's supply at 198 billion barrels. That works out to 26 percent of the world supply.


Yes that is exactly what this "new study" says.

:roll:

Ha ha.,...

How exactly do we know exactly how much is "undiscovered"? This topic is so incredibly ridiculous.

http://science.howstuffworks.com/enviro ... lling2.htm

maybe this will help.

Godfather.

It doesn't help. One can't "know" what's "undiscovered"... otherwise, it would be "discovered". It's ridiculous to pretend we know exactly the amount of oil that's out there. We don't. Sure, we can estimate and even if we somehow estimate close enough to the truth with a ballpark figure on how much we conceive there to be right now, technology and new discoveries will change a lot of what we think we know in the future. For example, how far down can we extract oil? We certainly can't at the core or the depths of the ocean. Perhaps the techniques will change. Perhaps new sources of oil, that would seem crazy today, will appear in the future.. and so on. There's just too many variables to forecast a scarce, changing resource without explaining "this is an estimate and we really don't know". Hence - why a discussion on "undiscovered" oil and oil "running out" is silly.

No one knows how much oil is out there - in truth - because our technology is not advanced enough. They are just guessing.

Godfather.

well I won't argue with you on that (techonolgy) but they must have a close guesstiment.

Godfather.

goingtoverona

i think we as a country have known for a while that we have large untapped oil reserves. in my opinion, i believe our government is doing everything possible to use up oil in other countries and save our oil for last, that way it will be the most expensive oil around, and it would further solidify the united states being the richest, most powerful country in the world. i too would love to see some alternate form of energy that would make fossil fuels obsolete.

Godfather.

goingtoverona wrote:

i think we as a country have known for a while that we have large untapped oil reserves. in my opinion, i believe our government is doing everything possible to use up oil in other countries and save our oil for last, that way it will be the most expensive oil around, and it would further solidify the united states being the richest, most powerful country in the world. i too would love to see some alternate form of energy that would make fossil fuels obsolete.

a friend of mine was telling me about a artical he read saying the US has huge reserevs of natural gas and it makes me wonder why more cars are not desinged to run on it ?

Godfather.

Cosmo

The Strategic Oil Reserve is there in case we need to go to war with someone BIG. Like a China, or a Russia, or a Europe or an Israel.
I would rather have it on reserve, just in case... and hope it never come to that.
...
I don't want it WASTED on lazy fucks... just so they can drive 2 blocks to the liquor store for cigarettes and beer.

mickeyrat

Cosmo wrote:

The Strategic Oil Reserve is there in case we need to go to war with someone BIG. Like a China, or a Russia, or a Europe or an Israel.
I would rather have it on reserve, just in case... and hope it never come to that.
...
I don't want it WASTED on lazy fucks... just so they can drive 2 blocks to the liquor store for cigarettes and beer.

yeah, but thats already barreled? At least thats how I've understood the reserve to be.

edit, interesting little tidbit toward the bottom of the article.

http://en.wikipedia.org/wiki/Strategic_oil_reserves

mary justice

Why would anyone consider FOX news reliable....its an entertainment channel.

brianlux

inlet13 wrote:

One can't "know" what's "undiscovered"... otherwise, it would be "discovered."

We may not always agree on everything, inlet, but I do admire your critical thinking. Well said!

While we're at it, perhaps it would be useful to define "untapped".

Godfather.

brianlux wrote:

inlet13 wrote:

One can't "know" what's "undiscovered"... otherwise, it would be "discovered."

We may not always agree on everything, inlet, but I do admire your critical thinking. Well said!

While we're at it, perhaps it would be useful to define "untapped".

untapped...a cold keg of beer in a refigeratorated truck waiting to be dropped off
at your house ?

serious tho don't these oil companys have some kind of raidar equipment ?
something that gives clues to where and aproximently how much oil is there ?

Godfather.

bgivens33

While Obama's statements were misleading, the article is probably even more misleading. "Technically recoverable oil" isn't a very useful statistic, and as far as I can tell, was something made up by the media. The only number that matters is "proven reserves"... that is how much oil we can economically recover. We can have billions of barrels of oil, but if it costs $1000 a barrel to recover, that does us no good.

That said, the author of the article recovers nicely when they begin quoting the Secretary of the Interior... he was dead on. It's just a game between republicans and democrats, they will quote whatever number is convenient.

brianlux

Godfather. wrote:

brianlux wrote:

inlet13 wrote:

One can't "know" what's "undiscovered"... otherwise, it would be "discovered."

We may not always agree on everything, inlet, but I do admire your critical thinking. Well said!

While we're at it, perhaps it would be useful to define "untapped".

untapped...a cold keg of beer in a refigeratorated truck waiting to be dropped off
at your house ?

serious tho don't these oil companys have some kind of raidar equipment ?
something that gives clues to where and aproximently how much oil is there ?

Godfather.

Probably Godfather. I think it's called DGR (Dollar Guided Radar).