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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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hobo finds
Penny Hoarding Member
838 Posts |
 Posted - 06/26/2010 : 18:45:11
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| How many other wells do they own? As long as the big O. dose not keep them from drilling or producing I think they will continue. Could Obama put a surcharge on what they do produce in our US waters to help the relief? Should but not sure if he will do... |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/26/2010 : 19:54:04
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| 35% of America's oil is supplied by Gulf drilling and exploration. This catastrophe will hit all of us, as Gulf oil rigs slow down their production due to government regulation and other drillers not wanting to take on excessive risk back away. The price of oil will be going higher as our demand for oil does not seem to be ending any time soon. |
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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specialbob
Penny Sorter Member
USA
56 Posts |
Posted - 06/27/2010 : 02:18:12
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35% of America's oil comes from the Gulf? That sounds pretty high. If I'm not mistaken, nearly 90% of the oil drilled on and off-shore in the US is sold overseas (China for one) where it fetches a high price. We import cheap oil and export lower grade higher prices oil.
Somewhere years ago, I read that we could be self-sufficient in oil production, but the shear expenditure would increase the price at the pump 75-100%.
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specialbob
Penny Sorter Member
USA
56 Posts |
Posted - 06/27/2010 : 02:20:00
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| There was a major oil disaster in the Gulf back in 1979. They had no idea how to stop or contain that spill either, until someone came up with the idea of drilling to holes on either side to relieve pressure. This slowed and eventually stopped the leak. Why haven't they tried this yet? |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/27/2010 : 08:21:34
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quote:
Originally posted by specialbob
35% of America's oil comes from the Gulf? That sounds pretty high. If I'm not mistaken, nearly 90% of the oil drilled on and off-shore in the US is sold overseas (China for one) where it fetches a high price. We import cheap oil and export lower grade higher prices oil.
Somewhere years ago, I read that we could be self-sufficient in oil production, but the shear expenditure would increase the price at the pump 75-100%.
You must be logged in to see this link.
OK..I'm wrong - it's 25%... 
The Gulf of Mexico normally pumps about 1.5 million barrels per day (bpd) of US crude, a quarter of domestic output and equivalent to nearly 2 percent of global oil production. As we now know, any disruption to this area can cause oil prices to dramatically increase.
You must be logged in to see this link. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 06/27/2010 08:23:13 |
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BP Bankruptcy is almost certain
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