Alaska's oil reserves 90% less than previously estimated

[KingOrfeo]

Story here.

(CNN) -- The U.S. Geological Survey says a revised estimate for the amount of conventional, undiscovered oil in the National Petroleum Reserve in Alaska is a fraction of a previous estimate.

The group estimates about 896 million barrels of such oil are in the reserve, about 90 percent less than a 2002 estimate of 10.6 billion barrels.

The new estimate is mainly due to the incorporation of new data from recent exploration drilling revealing gas occurrence rather than oil in much of the area, the geological survey said.

Drill, baby, drill?

 

[unregistered]

 

[hobbit.]

that must be good for Alasaka though. America has no need to invade and kill the insurgents who normally live there.

 

[KingOrfeo]

that must be good for Alasaka though. America has no need to invade and kill the insurgents who normally live there.

Let's do it anyway! It'll be fun!

 

[hobbit.]

Let's do it anyway! It'll be fun!

Inuits 0 - 698,473 Cunts (away win)

 

[busybody..]

Sounds like Obama CYA manipulated data.

I agree!

 

[unregistered]

 

[busybody..]

The new estimate is mainly due to the incorporation of new data from recent exploration drilling revealing gas occurrence rather than oil in much of the area, the geological survey said.


cause we dont need no FUCKING CLEAN BURNING GAS

 

[trysail]

Wanna know how they discovered this? They drilled a well. Dr. Drillbit is the only way to tell.


Dayum! They're finding a LOT of petroleum offshore Brazil. It seems as if there's an announcement almost every day.


http://noir.bloomberg.com/apps/news?pid=20601086&sid=afToFdkTsz3I


_______________________________

Petrobras Finds ‘Large Accumulations’ of Oil in Sergipe Well
By Laura Price

Oct. 27 (Bloomberg) -- Petroleo Brasileiro SA, Brazil’s state-controlled oil company, said it found “large accumulations” of oil in a well named Barra in the Sergipe- Alagoas Basin.

http://www.brasil-rounds.gov.br/arquivos/mapas/SEAL_site_jul10.pdf

The quality of the oil is similar to that found in deepwater Campos Basin wells, Petrobras said in a regulatory filing today. The discovery has larger volumes of oil than found in the Guaricema and Dourado fields, Petrobras said. Tests indicate the presence of light oil, Petrobras said.

 

[KingOrfeo]

Sounds like Obama CYA manipulated data.

No, that would be a Bush thing.

 

[trysail]

China consumed 8.6 million barrels of oil a day last year compared with 4.47 million in 1999, according to the BP Statistical Review of World Energy. The International Energy Agency estimates demand may reach 11.63 million a day by 2015.

Source: PetroChina Net Beats Estimates as Prices, Output Rise
http://noir.bloomberg.com/apps/news?pid=20601080&sid=aRD5WJrlxe5k

 

[nalas15]

Don't believe all those estimates by the tree huggers. According to them we were supposed to run out of oil early last century, mid last century, late last century, soon this century...and then we discover a new oil field...see North Sea , Brazil, Saudi Arabia can drill for the next 100 years at the current rate.

By why let facts get in the way of an idealogical bias.

 

[firespin]

You do realize this isn't all of Alaska, right?

It's a very small piece, relatively speaking. Of course still big compared to Rhode Island.

In particular, it's not the Arctic National Wildlife Refuge.

 

[Shagly]

You do realize this isn't all of Alaska, right?

It's a very small piece, relatively speaking. Of course still big compared to Rhode Island.

In particular, it's not the Arctic National Wildlife Refuge.

I say let BP do a plundering on Sarah Palin territory, the mainland will like it.

 

[trysail]

I say let BP do a plundering on Sarah Palin territory, the mainland will like it.

I am nearly certain the above is a sincere effort to write a sentence in English expressing a cogent thought— unfortunately it didn't succeed.

 

[Shagly]

I am nearly certain the above is a sincere effort to write a sentence in English expressing a cogent thought— unfortunately it didn't succeed.

Wrong.

 

[Frisco_Slug_Esq]

The new estimate is mainly due to the incorporation of new data from recent exploration drilling revealing gas occurrence rather than oil in much of the area, the geological survey said.


cause we dont need no FUCKING CLEAN BURNING GAS

*chuckle*



I was wondering if anyone was going to pick up on that. The thread starter needs to stand up...

 

[Frisco_Slug_Esq]

You do realize this isn't all of Alaska, right?

It's a very small piece, relatively speaking. Of course still big compared to Rhode Island.

In particular, it's not the Arctic National Wildlife Refuge.

Well, they thought they had some exciting news...

 

[miles]

Oreo celebrates what he perceives to be bad news for the US.

Pretty fucked up, no?

 

[Frisco_Slug_Esq]

I'm not sure if he thought it was bad news for the US or for Palin...




They hate so much it's hard to tell when its macro or micro.

 

[unregistered]

 

[off2bed]

And, he has no idea the oil migrates south for the winter.

To Brazil.

 

[IrezumiKiss]

Oreo celebrates what he perceives to be bad news for the US.

Pretty fucked up, no?

Almost like the same way you assholes celebrate bad news for America just to spite Obama, Democrats and liberals.

STFU, Miles.

http://cache.gawker.com/assets/images/comment/7/2010/10/ff05ebba843abf19e771435d4c02568b/original.gif

 

[KingOrfeo]

Oreo celebrates what he perceives to be bad news for the US.

Pretty fucked up, no?

The word "celebrate" does not mean what you seem to think it does.

 

[miles]

The word "celebrate" does not mean what you seem to think it does.

You love telling people what they think, don't you?

Pompous ass.