Zippyjuan
Banned
- Joined
- Feb 5, 2008
- Messages
- 49,008
China has not drilled a single well in the Gulf of Mexico yet. They have signed agreements with Cuba to help develop oil fields, but have not done anything other than sign a paper yet.
Russia says they think there is lots of oil in the Artic but do not have any huge finds there yet. Their total output is startting to fall. http://www.economist.com/business/displaystory.cfm?story_id=11332313
We discussed Lindsay Williams earlier and showed that he is HUGELY overstating oil in Alaska and elsewhere. He claims 200 years worth of US oil consumption in oil is there. We consume 7 billion barrels a year. That would mean that Alaska would have to have 1.4 TRILLION barrels of oil. The reported reserves of the ENTIRE WORLD right now are 1.2 trillion barrels. He claims that Gull Island, which sits in Prudhoe Bay, has more oil than Saudi Arabia. The largest field in Saudia Arabia is over 300 square miles. Prudhoe Bay is considerably smaller and cannot contain more oil than Saudi Arabia. Prudohoe Bay has estimated reserves of 10.4 billion barrels- not over 200 billion. Gull Island itself is less than one square mile. The oil there is a myth. Nobody other than Mr. Williams (who heard it from somebody supposedly- but no scientific evidence of any kind) believes that there is 200 years of US consumption worth of oil there. British Petroleum drilled a couple test holes there in the early 1990s. There was a dispute about the well they had near Gull Island being too close to another lease owned by Arco which went to court and BP lost in 1993. That is when and why they capped the well- not because the government ordered them to. The case ruling: http://www.state.ak.us/admin/ogc/orders/co/co300_399/co329add.htm
Russia says they think there is lots of oil in the Artic but do not have any huge finds there yet. Their total output is startting to fall. http://www.economist.com/business/displaystory.cfm?story_id=11332313
We discussed Lindsay Williams earlier and showed that he is HUGELY overstating oil in Alaska and elsewhere. He claims 200 years worth of US oil consumption in oil is there. We consume 7 billion barrels a year. That would mean that Alaska would have to have 1.4 TRILLION barrels of oil. The reported reserves of the ENTIRE WORLD right now are 1.2 trillion barrels. He claims that Gull Island, which sits in Prudhoe Bay, has more oil than Saudi Arabia. The largest field in Saudia Arabia is over 300 square miles. Prudhoe Bay is considerably smaller and cannot contain more oil than Saudi Arabia. Prudohoe Bay has estimated reserves of 10.4 billion barrels- not over 200 billion. Gull Island itself is less than one square mile. The oil there is a myth. Nobody other than Mr. Williams (who heard it from somebody supposedly- but no scientific evidence of any kind) believes that there is 200 years of US consumption worth of oil there. British Petroleum drilled a couple test holes there in the early 1990s. There was a dispute about the well they had near Gull Island being too close to another lease owned by Arco which went to court and BP lost in 1993. That is when and why they capped the well- not because the government ordered them to. The case ruling: http://www.state.ak.us/admin/ogc/orders/co/co300_399/co329add.htm
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