Oil spill in the gulf of Mexico
#133
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US ranks 11th in proven reserves;
http://www.infoplease.com/ipa/A0872964.html
Last edited by Catmando; 05-06-2010 at 12:42 PM.
#134
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Don't want to rain on your parade here but oil is used to make other products other than just gas. Propane, hexane, other "light" gases, diesel,fuel oil, asphalts, plastics, etc. Out of one barrel that may be the amount of gas in one instance, but it depends on what they are making money on at the time. If they are making more money on another product it may be less than the 19 gallons of gas, it may be more if they are making money on the gas.
#135
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I was aware that there is quite a bit of heavy crude. Not a lot of sweet crude left as far as I know. The company I work for has operations in the western canadian oil sands, so I am aware of that. I guess my point is that we don't really have huge reserves that would make an immediate impact on the market.
#136
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I was aware that there is quite a bit of heavy crude. Not a lot of sweet crude left as far as I know. The company I work for has operations in the western canadian oil sands, so I am aware of that. I guess my point is that we don't really have huge reserves that would make an immediate impact on the market.
#137
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We have a trillion eight alone in ONE deposit of Oil shale alone which Shell has a devolped process for that could bring the price to around $35.00 per barrel the Baklands oil reserve estimate is growing by the day ,Alaska Oil and off Florida and California, Plus we have 30+% of the worlds coal which can be converted. We are handcuffed by the enviro whacks. Old wells that were considered dry and depleted are refilling in some cases.
#138
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I think the largest fields we have left are in the Gulf, but as you can see from the depth that the Horizon rig was drilling, pretty much all the shallow fields are tapped out. The oil companies have to come up with better deep-water safety measures or this scenario will happen again.
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It's in shale, the dirtiest oil to extract and refine. I hope our shale is never worked because that oil is in the most beautiful, fragile, pristine wilderness left in this country.
US ranks 11th in proven reserves;
http://www.infoplease.com/ipa/A0872964.html
US ranks 11th in proven reserves;
http://www.infoplease.com/ipa/A0872964.html