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Mike
Off shore drilling is cheaper
Sun Aug 7, 2011 10:05pm
99.230.70.126

No mineral rights contracts to buy. No pipeline to lay. Drilling platforms are mobile. Tankers don't need to navigate extra distances to fill up.

Those capped off wells are most likely tapped out wells.

Oil companies are in for the profit and they are continuously beating their own records for profits because of the high cost of oil. They don't want to produce any more oil than they are producing right now as long as the price remains high. Producing more oil than necessary reduces the cost, thus reducing their profits.

  • I can well believe that.Lewis, Sun Aug 7 3:56pm
    We shouldn't be drilling that deep until all other inventories are exhausted - and that won't be for a century or so. We have more oil in America, accessible from dry land, than is beneath the sands... more
    • i think oil will be over far soonermatthew, Sun Aug 14 1:21pm
      because of 5 billion people in asia, africa, south ameria all buying cars & suvs. and btw, oil shale is very expensive to process.
      • For decades it was not economical to collect our vast reserve of oil from our sands with the available technology back then. With the latest technology it became cheaper and faster to extract that... more
        • Oil shale already viable.Lewis, Fri Aug 19 8:15am
          They're doing it now in the Eagle-Ford formation, in which my wife has a very small financial interest. It's simple: Oil and water don't mix - so water is forced into the shale, the oil floats to the ... more
      • Of course it is.Lewis, Mon Aug 15 8:19am
        And yet the processing of it is very profitable (it's called "fracking" - water under pressure is squirted down the well, and the oil/water mixture is the separated. Not real hard to do, because oil... more
    • Off shore drilling is cheaper — Mike, Sun Aug 7 10:05pm
      • and its also very dangerousmatthew, Sun Aug 14 1:24pm
        luckily the pressure of the oil well in mexico was low and the weather calm, else they might have not been able to cap it.....and u can imagine a few hundred billion barrels spewing out into the... more
        • Gentlemen, a WOOD fire is dangerousLewis, Wed Aug 17 7:14am
          The native bush people in Australia have so frequently set the bush ablaze that the place has gotten used to it - in fact, there are trees that will not germinate unless they ARE exposed to fire. If... more
        • That is trueMike, Tue Aug 16 11:04pm
          But the oil companies don't care about the environment. They are in it for profit and they must remain competitive with the many others that are drilling off shore.
        • I sometimes wonder about thatLewis, Mon Aug 15 8:12am
          Oil isn't made and then inflicted on nature by man; it's a natural substance, and nature knows how to deal with it. There are many places on earth where oil spurts up, without any wells having been... more
          • Yes, nature does deal with itMike, Tue Aug 16 11:32pm
            It's really a matter of balance. Oil does seep on it's own from below and is eventually dispersed and eaten up. However, a full blown large well that is emptied into the ocean in a short amount of... more
            • Yes, that's true tooLewis, Wed Aug 17 7:19am
              But then oil from a British rig intended for the US is no more noxious than oil from a Chinese rig intended for China - and our seaboard (Atlantic and Gulf) is littered with oil rigs of other... more
      • BTW, Mike -Lewis, Sun Aug 7 10:39pm
        Most oil doesn't travel in pipelines (although a lot does). Some of it is carried by over-the-road transport trucks, and some by railroad tanker cars. Ocean-going tankers have a problem navigating... more
        • It dpends on the location of the wellMike, Wed Aug 17 12:17am
          Pipelines are the most efficient. The point is that you need transport this oil to the freighter from the well, where as you don't need to with off-shore wells.
          • You don't have to put it in a freighterLewis, Wed Aug 17 7:31am
            You put it in railway tank cars - @ 50 or 60 per train - and haul it overland. As we now do. Put it in a ship and it's very, very close to the water - so that a storm or other adverse action can sink ... more
            • They could have just used railway cars instead? Railroading oil is not always practical. A super tanker can hold more than 4 million barrels. One railway tanker car holds about 700 barrels, and at... more
              • And how many trains in a day?Lewis, Thu Aug 18 10:37am
                Just as tankers have a hard time navigating inland, away from the water - railway capacity doesn't exist (yet)in Prudhoe bay. We have our refineries ALMOST exclusively on the water - but should not.... more
      • By no means.Lewis, Sun Aug 7 10:33pm
        Once the oil reaches shore from the off-shore rig, then you still have the same problem with pipelines and other transport. Wells tapped out? Sorry - I know something about that. My wife's family (a... more
        • Re: By no means.Mike, Wed Aug 17 12:00am
          Of course you need transport for land distribution, but you don't need any other transport other than the freighter itself to fill up off-shore. It fills up right at the source. Oil from on-shore... more
        • It's all about liberal beaurocracyLewis, Mon Aug 8 9:35am
          Liberals love excessive regulation, and the oil business if a prime example thereof. You have permits for EXPLORATION, and then permits for pumping. In 1985, or there about, an oil company tracked us ... more
          • So liberals caused that?Mike, Wed Aug 17 12:37am
            The oil companies couldn't meet their deadlines and it is the fault of the liberals? I know you want to defend them at all costs, but they're all doing just fine, still making RECORD profits. However ... more
            • As a matter of fact - yes.Lewis, Wed Aug 17 7:23am
              They didn't meet their deadlines because of having to comply with unnecessarily restrictive and complex regulations - put in place by liberals. This country, remember, is actually run more by the... more
          • Re: It's all about liberal beaurocracyC, Sat Aug 13 12:26am
            Lewis how bout we just shut em all down, make the unions and demos go broke. It's happening today.
            • Go broke?Lewis, Sun Aug 14 9:51am
              They'll never go broke; they're tapped into the taxpayers' arteries. They'll run the TAXPAYERS broke, of course - in fact, they already have.
              • You wanna play? You gotta pay!Mike, Wed Aug 17 12:51am
                It's as simple as that.
                • Exactly the point.Lewis, Wed Aug 17 7:34am
                  Boot their asses out and send them home - about 80% of our swollen government is not only not required by our constitution - most of the surplus is actually unconstitutional and totally unnecessary.
                  • Here's how -Lewis, Thu Aug 18 10:52am
                    Return to the individual sovereign states the power to do what they're supposed to do. We don't need federal education supervision; that's up to the states. Ditto labor relations. In fact - just... more
                  • Sounds like a good planMike, Wed Aug 17 2:42pm
                    But it still doesn't solve the problem of not having enough revenue needed to pay for what you've already committed to. A tax increase is necessary. Even a $1.5T cut in the budget will not make it... more
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