2011: Drill Baby, Drill

[Samson]

From the American Oil and Gas Journal
American Oil & Gas Reporter | Home

Respondents to AOGR’s 2011 Survey of Independent Operators indicate another healthy increase in drilling rates for the year ahead, this time projecting a 35.3 percent hike. Utilizing the same two-thirds “delivery rate” experienced in 2010 extrapolates to a total 2011 well count in the neighborhood of 52,800–the second largest post-1986 completion rate. It appears that in 2011, U.S. independents are going to “keep on keeping on."

What?

Despite "Peak Oil?"

Despite the possibility of losing subsidies?

Despite Windmills?

How can this be?

 

[Mr. H.]

Sweet.

Oil up $5.60 in overseas markets.

What- they don't observer President's day?!

 

[Samson]

Sweet.

Oil up $5.60 in overseas markets.

What- they don't observer President's day?!

 

[Mr. H.]

Jobs. Millions of jobs. Billions in revenues for local, state, and federal coffers. Increased domestic production of American energy.

What's wrong with that. Nuttin', honey.

 

[mdn2000]

From the American Oil and Gas Journal
American Oil & Gas Reporter | Home

Respondents to AOGR’s 2011 Survey of Independent Operators indicate another healthy increase in drilling rates for the year ahead, this time projecting a 35.3 percent hike. Utilizing the same two-thirds “delivery rate” experienced in 2010 extrapolates to a total 2011 well count in the neighborhood of 52,800–the second largest post-1986 completion rate. It appears that in 2011, U.S. independents are going to “keep on keeping on."

What?

Despite "Peak Oil?"

Despite the possibility of losing subsidies?

Despite Windmills?

How can this be?

Despite Windmills, its because of Windmills that we need more oil, the easiest use seen is lubricating tens of thousands of Wind Mills that barely produce a tiny amount of electricity. Windmills use 10,000x's more lubricating oil per kwh than fossil fuel uses. Anyhow, all that extra oil is being used to Lubricate, a boon to Oil companies.

Windmills are also increasing demand on Cement for for the foundation of the Windmills, Cement requires a massive amount of energy to make and transport, again the Cement industry is increasing demand for Oil and Energy to meet the needs of providing the Concrete foundations for Windmills.

Windmills have increased demand for fiberglass, fiberglass uses petrochemicals in the manufacturing process, these chemicals are in high demand and require more Oil production.

Of course the computers and radios have components made with oil.

All the components in a Windmill require the use of oil, if you increase the amount of Windmills made, you increase the amount of oil used. We are at the begining of building ten, twenty, thirty, forty, fifty thousand Windmills, this is a massive increase in the use of the Earth's finite resources at an alarming rate.

The Oil companies must drill to make Windmills, which on average need to be replaced four times during the life of one Nuclear or Fossil fuel power plant.

Anyhow, just having fun, its a thought always on my mind.

Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind.

 

[Mr. H.]

Why was the survey taken of Independent operators?

Maybe because they drill 90% of the wells in this country?

But, Obama speaks all the time about "Big Oil" and it's kazillions of profits. And when he sells his budget with $43 billion in taxes on "Big Oil" he is really targeting "Little Oil".

 

[whitehall]

Even Bill Clinton left a loophole to drill on a tiny portion of ANWAR when he signed the bill confiscating millions of acres in Alaska which would become the property of the federal government. Democrats prevented the US from being independent of foreign oil because the democrat party thirves on unrest and instability. If Obama signed the authorization to drill in ANWAR the economy would spike but that's not what he wants. What else can we assume when Obama appointed a communist and the former leader of an arson and looting rampage to be on his "green jobs" board? It ain't about green jobs, it's about revolution.

 

[Samson]

Why was the survey taken of Independent operators?

Maybe because they drill 90% of the wells in this country?

But, Obama speaks all the time about "Big Oil" and it's kazillions of profits. And when he sells his budget with $43 billion in taxes on "Big Oil" he is really targeting "Little Oil".

Or he is really targeting DOMESTIC oil...

Ah well, without the jobs that the oil industry provides, people will just need to depend on government hand-outs.

 

[AquaAthena]

"Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind."

Or..afford to feed our faces...

 

[rdean]

Jobs. Millions of jobs. Billions in revenues for local, state, and federal coffers. Increased domestic production of American energy.

What's wrong with that. Nuttin', honey.

An economist for the Treasury Department said in 2009 that a study had found that oil prices and potential profits were so high that eliminating the subsidies would decrease American output by less than half of one percent.

“We’re giving tax breaks to highly profitable companies to do what they would be doing anyway,” said Sima J. Gandhi, a policy analyst at the Center for American Progress, a liberal research organization. “That’s not an incentive; that’s a giveaway.”

Some of the tax breaks date back nearly a century, when they were intended to encourage exploration in an era of rudimentary technology, when costly investments frequently produced only dry holes.

http://www.nytimes.com/2010/07/04/business/04bptax.html

Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. Exxon has tens of billions in earnings permanently reinvested overseas. Likewise, GE has $84 billion in overseas income parked indefinitely outside the U.S.

Though Exxon's financial statement's don't show any net income tax liability owed to Uncle Sam, a company spokesman insists that once its final tax bill is figured, Exxon will owe a "substantial 2009 tax liability." How substantial? "That's not something we're required to disclose, nor do we."

What The Top U.S. Companies Pay In Taxes - Forbes.com

Oh, I get it, "We can't say". "Can't?" or "Won't?"

 

[Samson]

"Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind."

Or..afford to feed our faces...

You realize we don't mean Olive Oil, right?

 

[BolshevikHunter]

So called Anti-Big Oil hERO Obama!

Obama to Open Offshore Areas to Oil Drilling for First Time
http://www.nytimes.com/2010/03/31/science/earth/31energy.html\

..........................And all this just prior to the Gulf oil spill disaster? Of course all of a sudden afterwards, he's not so much for drilling offshore? LMAO! What a fucking liar, disgrace, fraud and a joke. You leftist idiots who polish this dunces shoes are nothing more than a perfect example of brainwashed sheople. Morons in both parties just like I have always said. ~BH

 

[RGR]

Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind.

Not true. But more amazingly, after having watched this place for awhile, how does ANYONE actually get banned?

 

[Mr. H.]

Jobs. Millions of jobs. Billions in revenues for local, state, and federal coffers. Increased domestic production of American energy.

What's wrong with that. Nuttin', honey.

An economist for the Treasury Department said in 2009 that a study had found that oil prices and potential profits were so high that eliminating the subsidies would decrease American output by less than half of one percent.

“We’re giving tax breaks to highly profitable companies to do what they would be doing anyway,” said Sima J. Gandhi, a policy analyst at the Center for American Progress, a liberal research organization. “That’s not an incentive; that’s a giveaway.”

Some of the tax breaks date back nearly a century, when they were intended to encourage exploration in an era of rudimentary technology, when costly investments frequently produced only dry holes.

http://www.nytimes.com/2010/07/04/business/04bptax.html

Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. Exxon has tens of billions in earnings permanently reinvested overseas. Likewise, GE has $84 billion in overseas income parked indefinitely outside the U.S.

Though Exxon's financial statement's don't show any net income tax liability owed to Uncle Sam, a company spokesman insists that once its final tax bill is figured, Exxon will owe a "substantial 2009 tax liability." How substantial? "That's not something we're required to disclose, nor do we."

What The Top U.S. Companies Pay In Taxes - Forbes.com

Oh, I get it, "We can't say". "Can't?" or "Won't?"

There are no "subsidies" solely attributable to the U.S. oil industry- but only items in the tax code that are afforded other industries such as manufacturing and agriculture.

"Oil prices and potential profit"? If there is so much profit in the oil business, then why isn't everyone and their brother going out for the game? Could it be for want of "risk"?

Oil has always been percieved as the perennial "gold rush" but where are the players?

Reference Exxon all you want, but the fact remains -Independents are the folks who drill 90% of the wells in this country.

So, dear rdear, if the oil business is such a guaranteed profit - are you invested? When's the last time you personally invested tens of thousands ( or millions for that matter) in drilling a hole in the ground? Pony up, you pussy.

 

[Mr. H.]

All right then- here's how it's done.

I don't know shit for shine about geology but my brother is quite the rock jock.
So he called me up a few years ago - "hey I've got what I think is a good prospect".

Something about underlying strata, geological analysis, and interpretive data supporting an argument for drilling a location that could potentially yield a million barrels, more or less. Yeah whatever.

Me, I like marketing - selling ideas. Selling something with risk and a profit motive. A payout.

Bro: "so you got any money to get this thing started"

Me: "Fuck no, how about you"? Nope.

But on my desk- in this morning's mail- is a 0% credit card offer. 6 months. 0%. I figured that we could draw up the program and have it sold and drilled in 3 months.

And that's what we did. We raised $80K within a week, drilled a 3,000' test all the while building in a tidy profit into the AFE for ourselves through consulting and management fees.

We paid off that credit card in plenty of time and each walked off with about $4k in out pockets.

Was that the plan? No- the "plan" was to find that million barrel field.

But it was a dry hole. That shit happens. And our investors knew about the risk going in.

And so it goes... a 1 in 8 success rate. We failed sure, but we tried. This is what it's about. Fail fail fail fail fail fail fail fail... succeed.

Unlike Obama, the oil industry ( read: independents) isn't out to "Win The Future" it's out to win- period. No matter the failure.

So FUCK that pimp of a President.

 

[Mr. H.]

And to hell with you wannabe tit sucking lazy fucks driving cars begging for cheap petro-hooch, waiting in line for 89 cent tacos. Get to town perm head sack whores. zzzzzz oh my gas costs so much. Exxon BP is cock but you got no clue who feeds the lunch box brats. America has the goods but pay the assasins because you think your dollars aren't good enough to keep at home. Self- sacrificing crotch breaking hounds.

 

[Mr. H.]

Oof what a hangover. Ah well I've read worse bullshit around here LOL.

 

[Jackson]

Haven't a clue what you said, But if it is drill, baby, drill....I agree! We have fooled around long enough. Common sense told us decades ago to drill and no one listens. Are they listening now that the Middle East is on fire? I am sure Obama is busy campaigning..anyone else?

 

[Missourian]

Haven't a clue what you said, But if it is drill, baby, drill....I agree! We have fooled around long enough. Common sense told us decades ago to drill and no one listens. Are they listening now that the Middle East is on fire? I am sure Obama is busy campaigning..anyone else?

Exactly what I was thinking.

Had we started drilling then, we'd be closer to to having more domestic oil now.

And Obama's ridiculous, unconstitutional offshore drilling moratorium just put us that much further in the hole.

 

[Samson]

Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind.

Not true. But more amazingly, after having watched this place for awhile, how does ANYONE actually get banned?

By asking questions about being banned....