Jordanian pilot burned alive by terrorist

[jeremy1375]

^ +1

Global oil market with OPEC in control makes all this possible. All of these terrorists get funded by oil money one way or the other. All of the oil producing middle eastern countries would be piss poor and irrelevant if it wasn't for oil.

Alternative energy is the answer. We just need an actual policy and goal to push for development sooner rather than later since there is no reason why capital markets would want to solve the problem.

[1ViciousGSX]

^ +1

Global oil market with OPEC in control makes all this possible. All of these terrorists get funded by oil money one way or the other. All of the oil producing middle eastern countries would be piss poor and irrelevant if it wasn't for oil.

Alternative energy is the answer. We just need an actual policy and goal to push for development sooner rather than later since there is no reason why capital markets would want to solve the problem.

We don't need OPEC. There's plenty of oil here at home. But your commander in chief keeps hindering the ability to get it. That's why every time we get closer to becoming energy independent the price of oil plummets just like it did recently. They need us more than we need them.

Can't have capital markets in an overly regulated government controlled economy. The government is picking winners and losers, and we're the losers.

[jeremy1375]

Saudi Arabia can produce oil for around $10 a barrel. U.S. shale operations costs to produce oil are around $50 and up per barrel. March crude futures are trading around $52.70 as I write this.

OPEC has the ability to put our operations out of business as we're seeing by their current policy. We saw their power in the '70's. Then when they cut production in 2008 by more than a million barrels a day. Now they leave the tap wide open and show that our operations can not compete if they do so.

Capitalism can not compete when the rest of the worlds oil is government controlled and cheaper to produce than ours.

[1ViciousGSX]

Shale is not the only place we can get oil. We have many oil reserves that are on lockdown.

Obviously Canada has enoough on tap to warrant having the Keystone pipeline go right through the middle of our country to feed oil tankers in the Gulf of Mexico for export to other countries, if it ever gets approved by our liar in cheif.

[jeremy1375]

Middle Eastern countries can do it cheaper than us. Our easy oil is gone.



Lifting Costs Finding Costs Total Upstream Costs
United States – Average $12.18 $21.58 $33.76
On-shore $12.73 $18.68 $31.38
Off-shore $10.09 $41.51 $51.60

All Other Countries – Average $9.95 $15.13 $25.08
Canada $12.69 $12.07 $24.76
Africa $10.31 $35.01 $45.32
Middle East $9.89 $6.99 $16.88
Central & South America $6.21 $20.43 $26.64

http://www.eia.gov/tools/faqs/faq.cfm?id=367&t=6

"Canadian oil sands — slated to be a top consumer of the pipeline — will need oil prices to stay between $65 and $75 a barrel to make production there economically feasible."

http://www.usatoday.com/story/money/business/2014/11/13/crude-keystone-project/18994601/

[1ViciousGSX]

Middle Eastern countries can do it cheaper than us. Our easy oil is gone.



Lifting Costs Finding Costs Total Upstream Costs
United States – Average $12.18 $21.58 $33.76
On-shore $12.73 $18.68 $31.38
Off-shore $10.09 $41.51 $51.60

All Other Countries – Average $9.95 $15.13 $25.08
Canada $12.69 $12.07 $24.76
Africa $10.31 $35.01 $45.32
Middle East $9.89 $6.99 $16.88
Central & South America $6.21 $20.43 $26.64

http://www.eia.gov/tools/faqs/faq.cfm?id=367&t=6



Natural gas is mixed into that equation, so it's hard to tell what the true cost of the oil is.

[jeremy1375]

How about this data. Our reserves are deep water and arctic. The prices for our methods begin past the high end of middle eastern country costs.


Oilfields Estimated Production
/source Costs ($ 2008)
Mideast/N.Africa oilfields 6 - 28
Other conventional oilfields 6 - 39
CO2 enhanced oil recovery 30 - 80
Deep/ultra-deep-water oilfields 32 - 65
Enhanced oil recovery 32 - 82
Arctic oilfields 32 - 100
Heavy oil/bitumen 32 - 68
Oil shales 52 - 113
Gas to liquids 38 - 113
Coal to liquids 60 - 113

Source: International Energy Agency World Energy Outlook 2008

http://www.reuters.com/article/2009/07/28/oil-cost-factbox-idUSLS12407420090728

[Kracka]

Quoting something from nearly a decade ago is basically pointless.

[jeremy1375]

Quoting something from nearly a decade ago is basically pointless.

Our drilling has become more technically challenging, while the middle east's hasn't. What paradigm shift has occurred to indicate that the point I'm making is dated by that data?

[Goat Blower]

Alternative energy is a joke, as witnessed by Solyndra and other companies our government have poured billions into and then closed their doors. If something is economically feasible, it should be self-suffiicient, not dependent on constant taxpayer funding. Oil and nuclear are the answer, lift the stupid regulations on them trying to make silly ideas like solar and wind feasible. Both have some merit, but only in certain locations and situations.