Comments on: Barack Obama’s Three and a Half Day Cure http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/ Thu, 05 Jan 2012 23:39:18 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: ss396 http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-19 ss396 Tue, 05 Aug 2008 13:45:35 +0000 #comment-19 <p>Further on in the Reuters article it states "The Democratic senator from Illinois said the light oil could be replaced later with heavier crude in a swap designed to bring quick relief from high gasoline prices."</p> <p>And from wence the heavy crude? Why, Venezuela of course!</p> Further on in the Reuters article it states “The Democratic senator from Illinois said the light oil could be replaced later with heavier crude in a swap designed to bring quick relief from high gasoline prices.”

And from wence the heavy crude? Why, Venezuela of course!

]]> By: streetwise http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-18 streetwise Tue, 05 Aug 2008 11:23:37 +0000 #comment-18 <p>Everyway you look at this, it's ridiculous.</p> <p>Say a major corporate hedger edges 3 million barrels a month. (Quite plausible). </p> <p>70 million barrels a year equals the demand of three, yes, just 3, companies.</p> <p>This is BS.</p> Everyway you look at this, it’s ridiculous.

Say a major corporate hedger edges 3 million barrels a month. (Quite plausible).

70 million barrels a year equals the demand of three, yes, just 3, companies.

This is BS.

]]> By: Dave_in_Fla http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-17 Dave_in_Fla Tue, 05 Aug 2008 10:55:27 +0000 #comment-17 <blockquote> <p>LONDON (Reuters) - BP (BP.L: Quote, Profile, Research) said it started to commission its Thunder Horse platform in the Gulf of Mexico on June 14 and that the platform would be in continuous production by year-end. "We started producing and exporting oil and gas from one well on June 14," a spokesman for BP said on Tuesday. "We would expect to complete full startup of the field by the end of the year." The long-delayed field, 150 miles southwest of New Orleans, will produce a maximum of <strong>250,000 barrels per day of oil and 200 million cubic feet per day of natural gas</strong> when it reaches peak production.</p> </blockquote> <p>That would be 150,000 bpd above your guess. So Time would actually be saying that all of the work we can do throughout the entire OCS will not even equal the production of this single platform. Now, granted, Thunderhorse is the biggest platform out there. But the logic being used here is pretty stupid.</p>

LONDON (Reuters) – BP (BP.L: Quote, Profile, Research) said it started to commission its Thunder Horse platform in the Gulf of Mexico on June 14 and that the platform would be in continuous production by year-end. “We started producing and exporting oil and gas from one well on June 14,” a spokesman for BP said on Tuesday. “We would expect to complete full startup of the field by the end of the year.” The long-delayed field, 150 miles southwest of New Orleans, will produce a maximum of 250,000 barrels per day of oil and 200 million cubic feet per day of natural gas when it reaches peak production.

That would be 150,000 bpd above your guess. So Time would actually be saying that all of the work we can do throughout the entire OCS will not even equal the production of this single platform. Now, granted, Thunderhorse is the biggest platform out there. But the logic being used here is pretty stupid.

]]> By: skorrent http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-16 skorrent Tue, 05 Aug 2008 10:46:17 +0000 #comment-16 <p>From someone on a Gulf platform that was pumping about 100,000 bpd? (That's about one barrel per second, for the incredulous.) Is TIME quoting the Bush people as saying that we can only drill two new platforms in 22 years? That's what they're implying. I see a $3 bill.</p> <p>What they're probably misquoting is some "Peak Oil" prophet in DOE that said something like "IF we began drilling on all our KNOWN OCS reserves immediately and pumping as fast as we could, THEN by 2030 we would be back down to slightly more than our current production" of somewhere between 6 and 8 million bpd. The holes in this prophesy are gynormous. And it bears no relation to what we could expect during those next 22 years (while we're busy building nucs and still trying to make wind and solar economical.)</p> From someone on a Gulf platform that was pumping about 100,000 bpd? (That’s about one barrel per second, for the incredulous.) Is TIME quoting the Bush people as saying that we can only drill two new platforms in 22 years? That’s what they’re implying. I see a $3 bill.

What they’re probably misquoting is some “Peak Oil” prophet in DOE that said something like “IF we began drilling on all our KNOWN OCS reserves immediately and pumping as fast as we could, THEN by 2030 we would be back down to slightly more than our current production” of somewhere between 6 and 8 million bpd. The holes in this prophesy are gynormous. And it bears no relation to what we could expect during those next 22 years (while we’re busy building nucs and still trying to make wind and solar economical.)

]]> By: Dave_in_Fla http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-15 Dave_in_Fla Tue, 05 Aug 2008 09:13:27 +0000 #comment-15 <p>I get to use it again.</p> <p><a href="http://www.redstate.com/diaries/vladimir/2008/aug/04/why-we-must-expand-drilling-in-the-ocs/">link</a></p> I get to use it again.

link

]]> By: MikeP http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-14 MikeP Tue, 05 Aug 2008 09:00:47 +0000 #comment-14 <p>Focus on the security and jobs issues. How can the One release 70 million gallons of oil from the Strategic Oil Reserve as Iran threatens the flow of crude through the Straits of Hormuz? This is a security issue. The other talking point for Republicans to counter the Democrats cry that we would not realize any oil from new drilling for at least five years with the declaration that JOBs would be made from the "wind-fall profits" if off-shore drilling was allowed. Infrastructure needs to be built, equipment purchased and the list goes on and on. These require immediate, near-term and long-term JOB development. Additionally, the McCain comprehensive energy plan that would build more nuclear power plants equates to a minimum of 750,000 more JOBs. America wants jobs, not rebates. </p> Focus on the security and jobs issues. How can the One release 70 million gallons of oil from the Strategic Oil Reserve as Iran threatens the flow of crude through the Straits of Hormuz? This is a security issue. The other talking point for Republicans to counter the Democrats cry that we would not realize any oil from new drilling for at least five years with the declaration that JOBs would be made from the “wind-fall profits” if off-shore drilling was allowed. Infrastructure needs to be built, equipment purchased and the list goes on and on. These require immediate, near-term and long-term JOB development. Additionally, the McCain comprehensive energy plan that would build more nuclear power plants equates to a minimum of 750,000 more JOBs. America wants jobs, not rebates.

]]> By: Socrates http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-13 Socrates Tue, 05 Aug 2008 08:59:15 +0000 #comment-13 <p>First Stupid Idea: Taxing "the oil companies" to send checks to consumers. "The oil companies", of course, will simply raise prices, passing that along to their customers, so consumers will pay for their own $1000 check. And the proposal does nothing to increase the supply or otherwise decrease the price of oil. Rather, it encourages oil companies to get out of the oil business.</p> <p>Second Stupid Idea: opening up the strategic reserve. This will have no effect on oil prices, as it's a relatively small amount of oil that speculators realize the government will be buying back again at some point. </p> <p>Also, the oil currently in reserve was purchased at low double-digit prices; replacing it will be done at today's triple-digit prices. </p> <p>The reserve is not a means to regulate oil prices, but to make sure we have enough oil to recover from some catastrophe. Dipping into the reserves now will leave us unprotected in the event of an OPEC, pipeline, or refinery problem.</p> First Stupid Idea: Taxing “the oil companies” to send checks to consumers. “The oil companies”, of course, will simply raise prices, passing that along to their customers, so consumers will pay for their own $1000 check. And the proposal does nothing to increase the supply or otherwise decrease the price of oil. Rather, it encourages oil companies to get out of the oil business.

Second Stupid Idea: opening up the strategic reserve. This will have no effect on oil prices, as it’s a relatively small amount of oil that speculators realize the government will be buying back again at some point.

Also, the oil currently in reserve was purchased at low double-digit prices; replacing it will be done at today’s triple-digit prices.

The reserve is not a means to regulate oil prices, but to make sure we have enough oil to recover from some catastrophe. Dipping into the reserves now will leave us unprotected in the event of an OPEC, pipeline, or refinery problem.

]]> By: Mark_I http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-12 Mark_I Tue, 05 Aug 2008 08:54:21 +0000 #comment-12 <p>I don't believe those estimates for a minute. Particularly the 10 year time frame. Open up those OCS drilling areas, and watch American companies come rushing home from abroad to explore them. That time frame will come spiraling down and fast. And the production numbers will go up just as fast.</p> <p>In the meantime, you can be satisfied with the crumbs that Obama drops for you. I'll take the cake that private sector production will bring.</p> I don’t believe those estimates for a minute. Particularly the 10 year time frame. Open up those OCS drilling areas, and watch American companies come rushing home from abroad to explore them. That time frame will come spiraling down and fast. And the production numbers will go up just as fast.

In the meantime, you can be satisfied with the crumbs that Obama drops for you. I’ll take the cake that private sector production will bring.

]]> By: yousef http://www.redstate.com/mark_i/2008/08/04/barack-obamas-three-and-half-day-cure/#comment-11 yousef Tue, 05 Aug 2008 08:45:56 +0000 #comment-11 <p><a href="http://www.time.com/time/politics/article/0,8599,1829354,00.html?cnn=yes">here</a></p> <blockquote>The Bush administration estimates that expanded offshore drilling could increase oil production by 200,000 barrels per day by 2030. We use about 20 million barrels per day, so that would meet about 1% of our demand two decades from now. Meanwhile, efficiency experts say that keeping tires inflated can improve gas mileage by 3%, and regular maintenance can add another 4%. Many drivers already follow their advice, but if everyone else did, we could reduce demand several percentage points immediately. In other words: Obama is right.</blockquote> here

The Bush administration estimates that expanded offshore drilling could increase oil production by 200,000 barrels per day by 2030. We use about 20 million barrels per day, so that would meet about 1% of our demand two decades from now. Meanwhile, efficiency experts say that keeping tires inflated can improve gas mileage by 3%, and regular maintenance can add another 4%. Many drivers already follow their advice, but if everyone else did, we could reduce demand several percentage points immediately. In other words: Obama is right.

]]>