Some incredible news on the oil front

[MARCUSO]

You have to remember, opec does not want to increase oil production. they are tight knit and don't want to have oil prices drop. Choke the consumer, keep the prices high, and there will be more to go around for a longer time...

Good luck, but to flood the industry with excessive oil...I don't think so.

Big Oil.

 

[Ollie]

Another point.
Doesn't matter if we produce a billion barrels a day. We can't refine it.
There hasn't been a new refinery built in something like 35 years.
The greenies have put so many road blocks in the way that no-one can build one.
I would like to see a couple smaller companies start building new refineries and it would drive the cost down because of competition.

 

[hilinerider]

the bakken formation in eastern mt. has been providing large amts. of oil but know way to get it out, not enough pipe, this project along with a couple other pipe projects are supposed to help, this hipe of oil price by the futures marketers is nuts, has nothin to do with supply and demand just what the marketers speculate, bunch of crap

 

[Dogmeat]

Don't worry everyone, I'm sure the Democrats and their greenie supporters will find a way to shut this down so we can keep forking over trillions to Saudi Arabia

 

[sledmanhof]

a refinery is proposed near my area and i dont know how many more are proposed in other areas but maybe they are all a directed by the knowledge of this big find.

 

[Oregongirl]

Whether it happens now or later, any and all oil under our soil (SD, ND, AK) will be removed and refined. There is simply too much demand and at some point in the future, it won't matter what the "greenies" have to say about it. Human existence, as we know it today, is simply too dependent on it to let it "sit where it lies".

Just my $.02.

It'll be interesting to watch this unfold......

 

[xrated]

EXACTLY! Everyone wants cheap gas but they don't want it in their backyard. The think it should be in a remote baren area. OK dummies, where are you going to house your labor force? The surrounding area has plenty of manpower to provide without being reliant on one industry for it's local economy. I think it would be great for the local economy and even better if they kept it a large percentage of local work force rather than hiring crews from TX and OK to come in bringing some of the questionable integrity with it.

syndey Mt has local guys working the rigs, and from what I hear, more then once someone has walked outta the Ranger Bar on a Friday, woke up on Sturday and wondered what the hell happened. Course I was only there once so it may have been workers who moved in.

 

[Fosgate]

When I lived in Gillette you had some peaches that would get canned from some outfits and go to another. There is usually 1 outfit that takes all the leftovers. In Gillette my understanding was Wolverine Trench. Most guys were out of state and I heard at one time the FBI showed up and cuffed a bunch of guys and hauled them off in a school bus. Buddy that got laid off from one construction company I told him he could go check out Woverine Trench and his eyes lit up and think he said something like FU are you crazy!

 

[winter brew]

I hope this is something that eases our dependence on other countries, but my guess is that good, old fashioned american corporate greed will keep the esimated costs of getting that oil out and refining so high that it will be cheaper to buy it from the middle east. Just like everything else that used to be made in the USA but eventually gets offloaded to the lowest bidder. Too bad for us....when will we learn.

 

[Ollie]

I hope this is something that eases our dependence on other countries, but my guess is that good, old fashioned american corporate greed will keep the esimated costs of getting that oil out and refining so high that it will be cheaper to buy it from the middle east. Just like everything else that used to be made in the USA but eventually gets offloaded to the lowest bidder. Too bad for us....when will we learn.

That is true, however.
With the dollar dropping against most other currency, it is starting to be cheaper to make it in the US again. This will be true with oil also.
This, combined with the HUGE find in the gulf of mexico (estimated at 2 million barrels a day by the end of 2009), I think will drive the cost of oil down.

The talking heads on sunday have admitted the cost of oil has nothing to do with demand anymore. It is strictly a "how much can we get" thing.

 

[Barnes]

Barnes get off snowest and get back to work drilling. I want me some cheap gas

Yeah were still punching holes up here but I don't think this field alone will affect the price you see at the pump. As oil is in an international market, as the value of the US dollar goes down, the price of oil will go up (in respect to the US dollar). The new refinery and pipeline in SD will help but not for several years; if it happens.

 

[Weekday Warrior]

Someone was saying that oil was a renewable resource, something about byproduct of the earths core burning the mantle, and that Oil really wasn't from "rotted dinosaurs" They went on to say oil wells once pumped dry in the 60's are now full again.

I gotta agree, it would take a chit load of rotted dinosaurs (and plants I suppose) to create the amount of oil we've already used lol


anyone know more about this? (or will I get assassinated even mentioning it?)

 

[hilinerider]

Someone was saying that oil was a renewable resource, something about byproduct of the earths core burning the mantle, and that Oil really wasn't from "rotted dinosaurs" They went on to say oil wells once pumped dry in the 60's are now full again.

I gotta agree, it would take a chit load of rotted dinosaurs (and plants I suppose) to create the amount of oil we've already used lol


anyone know more about this? (or will I get assassinated even mentioning it?)

better take your sled and hide in the mtn's now, you now have a target on your back!!!!!!!!!!


atleast you could try to convince the boss of this

 

[Weekday Warrior]

Oh man would I ever love too, maybe I'll take some welding classes or something and work in the Dakotas' oil fields

If they take the winters off that is

 

[Supplicate]

In Gillette my understanding was Wolverine Trench.

Cyclone Drilling

I'm almost glad I'll most likely be getting back into the oil and gas industry one way or another.

 

[Nate]

When I lived in Gillette you had some peaches that would get canned from some outfits and go to another. There is usually 1 outfit that takes all the leftovers. In Gillette my understanding was Wolverine Trench. Most guys were out of state and I heard at one time the FBI showed up and cuffed a bunch of guys and hauled them off in a school bus. Buddy that got laid off from one construction company I told him he could go check out Woverine Trench and his eyes lit up and think he said something like FU are you crazy!

Been working with the same company for the last 6 years. People come and go in this town, hell its the energy capital of the nation, got everything here. But with the good come alot of bad, like, my $1100 a month apartment and on a waiting list for a house. Should break though soon, fluctuates even enough

You SD boys have no idea what this will do to your little communities and how much politics get involved, no way in hell

Supplicate understands, he's around it, im around it almost everyday, just gotta sit back and watch people get greedy and get there azzes shot off for a few more bucks

 

[Mooseknuckle]

Ollie - I certainly no expert about oil, but was watching an investment analysit lament that the gulf oil finds are smaller than originally thought. Something along the lines of 250-500 million barrel finds (holes, wells, not sure of the proper name). Dude explained that these were indeed finds, but being smaller they were not as advantageous as first thought. I guess 750 mill to billion barrel finds are preferred (I know - duh) but that these smaller pockets won't drive the investment thats needed to build up infrastructure in a timely matter.

Sound right or is this just blather? Anyone in a refinery, I'm curious if the fractions of oil are different. Light Sweet Crude yields x,y and z per barrel as compared to Alaska Crude?

 

[xrated]

looking at the map of this field, am I the only one who is wondering how the Tribes in the Dakotas will affect this...Being that the Rez is sovereign nation land won't they have the option to act like OPEC? or is that just me being paranoid after seeing what's happened with Indian gaming?

 

[Ollie]

With horizontal drilling I don't think they will get too greedy.
I do think it is funny that the indians got shoved off onto what was thought to be worthless land that is starting to pay off.

 

[coyoteman]

Yeah, we're gonna buy Utah, & move their mountains here!

awesome, we wont have to drive across that boring *** state of nebraska.