Quote:
Originally posted by LubeMaster77
Wells in West Tejas and OK that have been idle for years are kick'n in now. Why, cuz its can make you money now.
We get a bunch of petro from Africa and the Middle Beast and just maybe, the politically smart thing to do is to invest and investigate alterntive sources of crude that is home grown. Crude mining practices have got'n way way better than before and the cost to explore and drill is actually far less than it ever has been due to the precisness and the probility of success.
Bio-based fuel? Seems like the agro sector has shifted to a democratic leaning more than ever. What would you do as a Republican? Me? I would try to help the ag market and be thought of as a guy that wanted to bring back some production to the US and clean up emissions. Talk about killing 3 birds with one shot.
As for the big fuel companies shifting? They have lost lots of love lately and any message that they send out best be that they are actively pursuing alternatives when in fact they are really not throwing the money they could at it if they so decided.
Also, I have been in plenty of refineries and none and I mean none run close to capacity - best is 80%. They play all sorts of games with terms. Only someone with petro eng knowledge would see that they are sneaking up on getting to 100% capacity and then, when they say they are at 100% they really are not because, once again, it is all in how you define capacity and trust me fellas, the Devil is in the definition!
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Old wells being newly profitable is a perfect example of increased cost causing reserve growth. Even so, a few 90% watercut wells in TX won't make up for a 20% drop at Cantarell.
We're going to starve Mexicans of corn so that farmers won't vote democrat? Then why does the current congress support Bush's plan? Get out of the fumes, you're hallucinating!
As far as refinery capacity, I think you know better than to bring that up. Refinery capacity is often cited as a reason for increased gasoline cost, but that is a straw man argument. A lack of refinery capacity, even if it did exist,
could not cause an increase in cost for the refinery input. Refinery output yes, refinery input no. Crude is a refinery input and crude is at the highest sustained price it has ever been. Can't be a refinery problem.
BP just funded a $500,000,000 biofuels center at UC Berkeley. Not exactly chump change, even by DOE standards. You say
PR, I say take a look at BP's production numbers for the last 3 years. Take a real close look at the North Sea fields.