Comments on: Uncle Sam’s Multi-Trillion-Dollar Oil Lockup http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/ Sat, 21 Nov 2009 16:06:58 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: BizzyBlog » The POR Economy: I Had NO Idea How Poor http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-153226 BizzyBlog » The POR Economy: I Had NO Idea How Poor Sat, 15 Nov 2008 15:37:19 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-153226 [...] clear that reinstituting the ban is a “top priority” for next year — never mind the trillions in royalties that could fill federal and state [...] [...] clear that reinstituting the ban is a “top priority” for next year — never mind the trillions in royalties that could fill federal and state [...]

]]> By: Pfunk http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-114989 Pfunk Sun, 28 Sep 2008 22:07:58 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-114989 You used the MMS estimates for offshore oil and gas reserves within the moratorium area. What about ANWR? Plus, if the 2000 acres of real estate within ANWR deliver the reserve estimates that are tossed around for that project, what about other portions of the North Slope in Alaska that are onshore? Surely there are onshore plays in that area other than in ANWR. The technologies that are developed in order to extract hard to produce oil reserves more effectively and efficiently within Canada and the USA will eventually be used in other parts of the world. Because of our early technological leadership within the oil industry and the fact that the easy reserves in North America (other than in Mexico) have been produced, the technologies to produce the hard to get or hard to produce reserves will naturally be developed in North America. It is stories like yours, WR Jonas, that leads me to believe that the Peak Oil crowd may be somewhat premature in their dire estimates. You used the MMS estimates for offshore oil and gas reserves within the moratorium area. What about ANWR? Plus, if the 2000 acres of real estate within ANWR deliver the reserve estimates that are tossed around for that project, what about other portions of the North Slope in Alaska that are onshore? Surely there are onshore plays in that area other than in ANWR.

The technologies that are developed in order to extract hard to produce oil reserves more effectively and efficiently within Canada and the USA will eventually be used in other parts of the world. Because of our early technological leadership within the oil industry and the fact that the easy reserves in North America (other than in Mexico) have been produced, the technologies to produce the hard to get or hard to produce reserves will naturally be developed in North America. It is stories like yours, WR Jonas, that leads me to believe that the Peak Oil crowd may be somewhat premature in their dire estimates.

]]> By: WR Jonas http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-114142 WR Jonas Sat, 27 Sep 2008 15:50:16 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-114142 I was reading about an exciting new technology which is being tested in northern Canada, called THAI, which stands for toe-heel-air injection . If the project is successful the cost to produce oil directly from shale will be significantly improved.Using a very specially lined pipe which is placed in seams hot air in injected into the strata and forces the oil out of the rock into the pipe. Not only is the process cleaner environmentally but it produces a more desirable grade of crude. Very radical and perhaps revolutionary. In 20 years the Arabs may be pleading to get us to buy their oil. I was reading about an exciting new technology which is being tested in northern Canada, called THAI, which stands for toe-heel-air injection . If the project is successful the cost to produce oil directly from shale will be significantly improved.Using a very specially lined pipe which is placed in seams hot air in injected into the strata and forces the oil out of the rock into the pipe. Not only is the process cleaner environmentally but it produces a more desirable grade of crude. Very radical and perhaps revolutionary. In 20 years the Arabs may be pleading to get us to buy their oil.

]]> By: Tom Blumer http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113770 Tom Blumer Sat, 27 Sep 2008 03:48:37 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113770 Marc Malone and all else: The 5 years ONLY relates to the time period studied to estimate the average royalty rate. It has NOTHING to do with HOW QUICKLY the resources are extracted. I don't know how much or how quickly, but it doesn't seem at all unreasonable to think that we would be taking in a few hundred billion dollars year once a reasonable production level is in place. Now we send hundreds of billions of dollars overseas instead. Talk about stuck on stupid. Williams Jokusch -- that's funny. Marc Malone and all else:

The 5 years ONLY relates to the time period studied to estimate the average royalty rate.

It has NOTHING to do with HOW QUICKLY the resources are extracted.

I don’t know how much or how quickly, but it doesn’t seem at all unreasonable to think that we would be taking in a few hundred billion dollars year once a reasonable production level is in place. Now we send hundreds of billions of dollars overseas instead. Talk about stuck on stupid.

Williams Jokusch — that’s funny.

]]> By: Jaded http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113609 Jaded Sat, 27 Sep 2008 00:41:25 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113609 DRILL HERE DRILL NOW and all of the above.....American ingenuity with American workers.....lets keep that 700 billon we spent on foreign oil back in our account.....it appears we need to save the POOR on Wall Street! DRILL HERE DRILL NOW and all of the above…..American ingenuity with American workers…..lets keep that 700 billon we spent on foreign oil back in our account…..it appears we need to save the POOR on Wall Street!

]]> By: john from cinncinati http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113602 john from cinncinati Sat, 27 Sep 2008 00:20:39 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113602 how much are the Alaskans getting back each year? lets ask Gov Palin how she did it. how much are the Alaskans getting back each year? lets ask Gov Palin how she did it.

]]> By: Marc Malone http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113590 Marc Malone Fri, 26 Sep 2008 23:51:53 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113590 I'm no expert on drilling, but I suspect that the reason that Dems don't want Offshore Nat Gas production is because oil and Nat Gas are co-located. I understand that in AK's north slope, they have to pump the stuff back into the ground (!) because they have no means to pipe the TRILLIONS OF CUBIC FEET to markets. Thus the importance of Palin's Nat Gas Pipeline project. Anyway, what if they were drilling for Nat Gas offshore and hit the oil motherload, hm? I’m no expert on drilling, but I suspect that the reason that Dems don’t want Offshore Nat Gas production is because oil and Nat Gas are co-located. I understand that in AK’s north slope, they have to pump the stuff back into the ground (!) because they have no means to pipe the TRILLIONS OF CUBIC FEET to markets. Thus the importance of Palin’s Nat Gas Pipeline project.

Anyway, what if they were drilling for Nat Gas offshore and hit the oil motherload, hm?

]]> By: Paddy http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113582 Paddy Fri, 26 Sep 2008 23:27:21 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113582 Mr Trained Economist, What sort of tricks can you perform? My lawyer friends used to pose the question: what do you have when you lay all of the world's economists end to end? Answer: nothing. Mr Trained Economist, What sort of tricks can you perform?

My lawyer friends used to pose the question: what do you have when you lay all of the world’s economists end to end? Answer: nothing.

]]> By: Reid Continues Blocking Of Shale Oil « Tai-Chi Policy http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113555 Reid Continues Blocking Of Shale Oil « Tai-Chi Policy Fri, 26 Sep 2008 22:25:16 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113555 [...] if we had been developing the domestic energy sources that the Dems have consistently been against, our Federal government would have collected at least $6.1 trillion dollars under current royalty rat...…an amount that would pay for the $700 billion bailout plan quite a few times over, [...] [...] if we had been developing the domestic energy sources that the Dems have consistently been against, our Federal government would have collected at least $6.1 trillion dollars under current royalty rat……an amount that would pay for the $700 billion bailout plan quite a few times over, [...]

]]> By: William Jockusch http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/comment-page-1/#comment-113553 William Jockusch Fri, 26 Sep 2008 22:22:55 +0000 http://pajamasmedia.com/blog/uncle-sams-multi-trillion-dollar-oil-lockup/#comment-113553 Look on the bright side. We didn't extract that oil when it was $20 or $30 a barrel, and now that it is $80 or $100, it's down there, waiting for us. Look on the bright side. We didn’t extract that oil when it was $20 or $30 a barrel, and now that it is $80 or $100, it’s down there, waiting for us.

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