President Obama gives $2 billion for off-shore drilling

[BigRob]

Only problem here is that it is not to drill American oil. The loan is going to Brazil to help them drill offshore.

I find this interesting since this administration and its Congressional allies have blocked huge amounts of off-shore drilling in the United States.

If drilling in Brazil is no problem, why is drilling in the US a problem?

 

[ASPCA4EVER]

Only problem here is that it is not to drill American oil. The loan is going to Brazil to help them drill offshore.

I find this interesting since this administration and its Congressional allies have blocked huge amounts of off-shore drilling in the United States.

If drilling in Brazil is no problem, why is drilling in the US a problem?

Lots of variables: depth of the oil reservoir, marine life and the impact upon them, our assisting (long range investments) this nation could possibly mean a new supplier for more petroleum (ie; better grade of crude oil, more neutral country to deal with, solidifying relations and fortifying our trade agreements) and if they were in need of the money; why not 'US' verses some one say like the Communist Country - CHINA! Seems a worthy place to invest some American $$$ IMO

 

[Greco]

It's that it's such a problem, although the two Republican governors where most of the off-shore drilling would take place seem to think so. The issue is return on investment. I have several friends that are very successful geologists and they inform me there really isn't that much oil in the gulf. It's primarily natural gas, which we have no shortage of.

Here in Oklahoma we have thousands of gas wells all capped, because of the low price. These well are already in and ready to resume production when the price rises. Additionally there are massive acres of unexplored areas for new gas wells.

 

[asur]

It makes no sense, since drilling oil in Brazil will not help the environment.
Why does Obama want to kill the environment on one hand and then
appear to want to preserve it?

I'm starting to believe he is only a joker and nothing else.

Drilling in the US would create real jobs, but then he appears to
want to destroy jobs in the US.

 

[BigRob]

Lots of variables: depth of the oil reservoir, marine life and the impact upon them, our assisting (long range investments) this nation could possibly mean a new supplier for more petroleum (ie; better grade of crude oil, more neutral country to deal with, solidifying relations and fortifying our trade agreements) and if they were in need of the money; why not 'US' verses some one say like the Communist Country - CHINA! Seems a worthy place to invest some American $$$ IMO

Isn't the whole idea to eliminate the need for "foreign" energy sources? Further, Brazil has openly challenged the United States in South America through support of the Bank of the South and other programs.

I have no problem funding this, I just think it is stupid that we cannot fund our own drilling if we can fund theirs.

 

[BigRob]

It's that it's such a problem, although the two Republican governors where most of the off-shore drilling would take place seem to think so. The issue is return on investment. I have several friends that are very successful geologists and they inform me there really isn't that much oil in the gulf. It's primarily natural gas, which we have no shortage of.

Not according to Exxon, Chevron, and BP. There are estimates that 1 pocket alone found in 2006 contains more than 15 billion barrels of oil. An estimate for oil off of Cuba is around 20 billion barrels as well.

There is not much production left in the shallow water, but the estimates in the deeper water (which we have banned drilling in) are huge.

Here in Oklahoma we have thousands of gas wells all capped, because of the low price. These well are already in and ready to resume production when the price rises. Additionally there are massive acres of unexplored areas for new gas wells.

When those gas wells are restarted they will have lower output. In some cases, it will never be feasible to restart them at all.

Further, the New York Times has reported that the nation gets 25% of its oil production from the Gulf, and only 20% of gas production. Nor can natural gas alone solve the problems of our oil dependence.

 

[Mr. Shaman]

Only problem here is that it is not to drill American oil. The loan is going to Brazil to help them drill offshore.

I find this interesting since this administration and its Congressional allies have blocked huge amounts of off-shore drilling in the United States.

If drilling in Brazil is no problem, why is drilling in the US a problem?

'Cause we haven't finished tappin'-out Libya, yet.

You really should try to pay closer-attention....

​

 

[ASPCA4EVER]

Isn't the whole idea to eliminate the need for "foreign" energy sources? Further, Brazil has openly challenged the United States in South America through support of the Bank of the South and other programs.

I have no problem funding this, I just think it is stupid that we cannot fund our own drilling if we can fund theirs.

I understand your frustration, but the core to our crude oil problem is not more production or new drilling it is the need for more updated refineries, that is America's problem. Our technology goes over seas to build the newest/biggest/best refinerines in the world...but nada for us. Now that is a real kick in the arse!

 

[Greco]

Well, BigRob, guess you have your work cut out for you to persuade the governors of California and Florida, both Republicans, to quit opposing your contention.

 

[BigRob]

Well, BigRob, guess you have your work cut out for you to persuade the governors of California and Florida, both Republicans, to quit opposing your contention.

Well, looks like the Governor of Florida is on board.

As for Arnold, I will let you know.

 

[BigRob]

I understand your frustration, but the core to our crude oil problem is not more production or new drilling it is the need for more updated refineries, that is America's problem. Our technology goes over seas to build the newest/biggest/best refinerines in the world...but nada for us. Now that is a real kick in the arse!

I am all for building new refineries. I also would support more nuclear plants.

 

[TruthAboveAll]

Well, looks like the Governor of Florida is on board.

As for Arnold, I will let you know.

Yes, Crist is on board and supportive. Took a bit of convincing, and with China starting to suck up the supply of crude again on the global market, it's an issue that should be on the forefront here. Prices are going to go up, and at this time it could be devastating to our floundering economy.

Don't hold your breath on Arney. The NIMBY-coast my be sunk too deeply into la-la-leftie land.

 

[TruthAboveAll]

I understand your frustration, but the core to our crude oil problem is not more production or new drilling it is the need for more updated refineries, that is America's problem. Our technology goes over seas to build the newest/biggest/best refinerines in the world...but nada for us. Now that is a real kick in the arse!

ASPCA, very true. Not necessarily the core, but a huge part of the problem. But it is primarily an influence on the flow (no pun intended!) to the pump. The base price dictated by the world market, especially with China buying petro contracts right and left, hasn't much bearing on our ability to refine. Or lack thereof.

You are so right. We develop all this great, improved technology, and then we can't build the blasted refineries here due to governmental restrictions.

I wish PBO would have taken that $2 billion and invested it into our system. Talk about a payoff! The jobs, product availability, efficiency, environmental benefits and taxes created could make that monstrous stimulus package obvious as the money pit it will eventually prove to be anyway.

 

[TruthAboveAll]

I am all for building new refineries. I also would support more nuclear plants.

Drill baby drill! Build baby build! Just imagine the economic stimulus from this!

 

[ASPCA4EVER]

I am all for building new refineries. I also would support more nuclear plants.

There are wind farms spouting up in quite a few locations (this being the 6th best wind movement location out of the top 10 windiest states) around me and I live one county line over (66 miles as the crow flies) from a nuclear plant...my county being the poorest in my state and that county being the wealthiest, just seems odd how that all shock down! Other than cattle the next large product we produce is crude oil and natural gas.