Gush of oil exploration is on tap

Gush of oil exploration is on tap

Profits boost spending to meet bulging demand

By Kevin G. Hall
KNIGHT RIDDER NEWS SERVICE

December 24, 2005

WASHINGTON – After a year of record prices for oil and natural gas, the world's energy companies are stepping up spending on exploration and production. Flush with cash, they'll spend 2006 hunting for oil and opportunities to expand their businesses.

That's good news for consumers. It means oil companies, private and state-owned, are hunting for supplies to replace what's consumed and to meet surging global demand for oil and natural gas. Global oil consumption is forecast to grow from 82 million barrels per day now to 111 million barrels per day over the next 20 years, so much more fuel must be found simply to keep prices from rising dramatically.

High fuel prices have triggered a bonanza of exploration by smaller companies, which are often willing to risk more in hope of getting greater rewards. But PricewaterhouseCoopers, a major consultancy, expects the big players to spend much more, too. The world's 20 largest private energy companies are awash in $75 billion in cash, experts in the firm's Houston office estimate.

More..

Find this article at:
http://www.signonsandiego.com/uniontrib/20051224/news_1b24oilhunt.html

better to go down in very large flames then to try to not go down at all.

or something,

Just kidding !

fast as they can..the plan is to use up theirs them create a false oil peak then open up the wells here at premium prices..

we need the Clinton solar project back.. it has apparently been sold to a Corporation that is now picking up speed very slowly.

the new parabolic mirror vacuum tube technology is said to be able to produce about 70% of daytime energy with 3 or 4 10 mile square power units

Dubya canceled the funds his first week in office.

the use of this technology..
http://www.azsolarcenter.com/technology/electric.html
http://www.canren.gc.ca/tech_appl/index.asp?CaID=5&PgID=282
http://www.greenonetec.com/cms/front_content.php?idart=60&lang=4

square mile unit driving many turbines, in areas where water can be pumped into a reservoir and run back down at night thru tribunes they can use the cheap day time energy at night, the next day the water is pumped back up.. Scotland has been doing it for decades with cheap nite time English energy.

this is a special project that The Wet Brain Alcoholic Drug Addict pResident ruined for us all, but like all Emperors he had to destroy all evidence of the previous leader

Why would anyone CAP an oil well for future use?? I have heard this story that 1000's of well in the USA have been capped but many old timers in the drilling industry will tell you that's BUNK!! And here's there reasoning.

Why would any invester have drillers find oil wells just to cap??? Where's the return?? Wait?? Remember when oil dropped to $10?? It could happen again but don't hold your collective breath on that one.. So your story that oil wells have been capped so others wuold use their oil first, just doesn't make any sence!

Sometimes wells are capped if there are cheaper 'easier' wells. As oil prices went up and the profit margin of these more 'difficult' wells went up, a lot of older capped wells got uncapped, had numerous chemicals and other new innovations pumped down them to extract the oil, because with higher prices it was now worth it to extract the oil. However, most of the wells that flow freely without much intervention are nearly tapped out. They are now needing to find new ways of extracting what is already known about. I think this exploration stuff is bunk - there aren't that many areas left to explore that have any sizeable reserves easily extractable. All that's left is the stuff that requires tons of $$$ to get at the oil.

eom

but like an aging actor/actress appearances must be maintained and the sweet lies of youth repeated.

Growth for growth's sake is the operating principle of the cancer cell.

"Our 'neoconservatives' are neither new nor conservative, but old as Babylon and evil as Hell." – Edward Abbey

Or is it just me? :shrug:

:evilgrin:

And besides, if the oil companies start looking for new oil fields now, won't it be about ten years before anything actually gets pumped out of them?

I guess it's good news that all that extra carbon is going into the atmosphere, too. It's the smell of a healthy planetary economy. Or something. Oh, yeah. Death. That's what it is: the smell of death.

could have this stash of case. This is NOT good for the environment. We are burning fossil fuels at a alarming rate. When the polar bears start drowning and the temperature rises and the gulf streams cool down because of melting water, we have done something very very bad to this environment.

When we face judgement (by whomever/whatever you believe in) we will be called to answer for this. For the destruction of the planet, for the deaths of innocents, for the bloody waste of all the good things that we were given.

will be magically held down until after the 2006 elections. Then watch out!!

:puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke:

huh? Did anyone think of THAT?


Hello, is anyone here?

is now available on EV World in MP3 format.

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