> Off Topic Discussions
Lies and Deception
joyful1:
Joe--
Good article! And Morgan didn't even mention all of the alternative energy sources that are practically FREE! With $ being the bottom line in the kingdom of Babylon (religious and political) its no wonder we've been led down this merry path over and over again in every area of life; education, medicine, science, law and religion. "Nothing NEW under the sun!" It's frustrating but not surprising. Thank God, the "lies and deception" will finally END one day!
A shadow of things to come?.....
Exodus 18:21
Moreover thou shalt provide out of all the people able men, such as fear God, men of truth, hating covetousness; and place such over them, to be rulers of thousands, and rulers of hundreds, rulers of fifties, and rulers of tens:
hillsbororiver:
Hi Everyone,
The point of this topic was certainly not to demonize the oil companies as if the exclusive domain of lies and deception belong to them. If you look at both the pro "Big Oil" boosters and the anti "Big Oil" camps there is plenty of deception, half truths and blatant lies to go around. Let's not forget the exaggerated claims of the environmentalists as well.
We are in darkness not only in spiritual matters but also in our day to day physical lives, who can we really believe about anything? We have to make decisions constantly while having very little light as to the true dynamics of the matter(s) at hand, without faith in the Source of Truth we are leaves blowing about in the wind.
--- Quote from: Patrick on July 18, 2008, 11:20:33 AM ---
--- Quote from: ---If the US switched from being a net consumer in the world oil market to becoming a net supplier, the price of oil would plunge, perhaps to around $US30 per barrel, with the result that the world’s economies would boom as never before.
--- End quote ---
At this time, it costs us $45/barrel just to get the oil to the surface. Am I to believe that the cost involved to extract the oil will go down accordingly?
At today's prices, it costs over 1M just to drill a well. There is no guarantee that the well will be a producer. The majors don't fret this as much as us "Independents."
--- End quote ---
Hi Patrick,
You are talking about the "average" price (actually cost is a better word) of extracting oil right? It does not seem possible that the cost of extracting oil from an established shallow well is the same as extracting oil from a new, very deep well. But if we "average" the two then we have an overall cost which you say (and I do not doubt) is now $45.
In April 2003 when I was in Calgary, Alberta we had dinner with a Geo Engineer who was saying that as soon as the price of a barrel of oil reached about $40 per barrel it would make drilling in the Alberta shale sands profitable, at that time (spring 2003) oil was fetching $20-$25 per barrel, do you think it is primarily the present weak dollar that has driven up the cost or is there more to it than that. I mean the price per barrel has shot up over 600% in 5 years, inflation and the devalued dollar combined does not even close to that.
I believe that part of the reason is that the major oil producing nations believe our leaders are too weak willed to overcome a very vocal "Green" minority that prevents us from drilling in places where there are known reserves. Did you notice the drop in prices the last couple weeks when it was even implied that the U.S. would begin drilling offshore and in ANWAR?
This whole world and present life experience is a parable, isn't it? ;)
Peace in Him,
Joe
dogcombat:
The effects of "Lies and Deception" depend
largely on ones "Depth Of Perception".
Ches
hillsbororiver:
--- Quote from: dogcombat on July 21, 2008, 09:58:50 AM ---The effects of "Lies and Deception" depend
largely on ones "Depth Of Perception".
Ches
--- End quote ---
;D
Excellent Ches!
Which can only be obtained through His discerning Spirit within us. ;)
Peace,
Joe
Patrick:
--- Quote from: hillsbororiver ---
Hi Patrick,
You are talking about the "average" price (actually cost is a better word) of extracting oil right? It does not seem possible that the cost of extracting oil from an established shallow well is the same as extracting oil from a new, very deep well. But if we "average" the two then we have an overall cost which you say (and I do not doubt) is now $45.
In April 2003 when I was in Calgary, Alberta we had dinner with a Geo Engineer who was saying that as soon as the price of a barrel of oil reached about $40 per barrel it would make drilling in the Alberta shale sands profitable, at that time (spring 2003) oil was fetching $20-$25 per barrel, do you think it is primarily the present weak dollar that has driven up the cost or is there more to it than that. I mean the price per barrel has shot up over 600% in 5 years, inflation and the devalued dollar combined does not even close to that.
I believe that part of the reason is that the major oil producing nations believe our leaders are too weak willed to overcome a very vocal "Green" minority that prevents us from drilling in places where there are known reserves. Did you notice the drop in prices the last couple weeks when it was even implied that the U.S. would begin drilling offshore and in ANWAR?
This whole world and present life experience is a parable, isn't it? ;)
Peace in Him,
Joe
--- End quote ---
The producing formations have 3 key components; crude (sweet or sour), gas (good or bad [Hydrogen sulfide = bad]), and water.
Deep wells usually have downhole gas pressure that aids in lifting the crude to the surface; shallow wells need a lifting mechanism to get the crude to the surface (downhole pumps, submersible pumps). Over time, a secondary recovery program, water injection, must be initiated.
The costs of running all the electric motors for the different pumps, downhole pumps & injection pumps, to get the crude to the surface averages $45/barrel. For example, on 3 of our leases (160 acres each), we inject over 25K barrels of produced water to recover 3K barrels of crude.
I have not done much research on the Alberta sands. I believe the majority of that is mined as it's very shallow.
As far as why the price is what it is, I believe it's just speculators working the system (lack of stability in the Middle East, our economy, military conflicts, etc.).
Yes, I watched the decline in price. Just imagine what would happen if our government released a major portion of it's "strategic reserves", but god forbid we don't keep enough crude to fuel our military. ;)
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