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#1
09-01-2006, 02:44 PM
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The real reason oil is dropping, and a boom in the U.S. is coming:
When asked about America’s least-publicized oil supply, Utah Senator Orrin Hatch said:
“The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?” There's technology in place already to produce this stuff at about $10 per barrel. In 3 years, the U.S. CAN/COULD cease imports of oil from the middle east/others. The boom in the economy and local oil companies is going to be staggering. No wonder we are $12 off the $80 highs... Discuss. 
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#2
09-01-2006, 02:54 PM
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Re: The real reason oil is dropping, and a boom in the U.S. is coming:
[ QUOTE ]
When asked about America’s least-publicized oil supply, Utah Senator Orrin Hatch said: “The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?” There's technology in place already to produce this stuff at about $10 per barrel. In 3 years, the U.S. CAN/COULD cease imports of oil from the middle east/others. The boom in the economy and local oil companies is going to be staggering. No wonder we are $12 off the $80 highs... Discuss. [/ QUOTE ] I don't think this is much to discuss until you find some unbiased sources. Nothing I've read in the last couple years would indicate to me that a boom, or anything like it, is coming in the US.
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#4
09-01-2006, 03:13 PM
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Re: The real reason oil is dropping, and a boom in the U.S. is coming:
What technology is going to allow you to get oil out of oil shale for $10 a barrel? The numbers I've heard are more like $40 a barrel, and those who got burned in the 70s looking at this type of technology aren't likely to want to put money into it again.
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#7
09-01-2006, 06:01 PM
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Re: The real reason oil is dropping, and a boom in the U.S. is coming:
Does this revolutionary technology use cold fusion to process the oil shale, because if so they should look at the oil sands in Canada as well because they are having trouble finding a way to get the thermal energy needed to process non-conventional oil.
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#8
09-01-2006, 06:11 PM
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Re: The real reason oil is dropping, and a boom in the U.S. is coming:
I think the "technology" is based on burning some of the oil shale underground by injecting oxygen in some controlled way. Oil shale when heated, oozes oil thru a nearby well. The fire underground is easy controllable as when you cut the oxygen the fire dies inmediately.
THE answer is to buy the stock of THE ONE company that is currently producing oil this way already (at ~$10 per barrel), and another ANSWER is to buy the stock of the other oil giants that are getting involved in the leases with the government.
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#9
09-01-2006, 08:40 PM
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Re: The real reason oil is dropping, and a boom in the U.S. is coming:
[ QUOTE ]
Does this revolutionary technology use cold fusion to process the oil shale [/ QUOTE ] Actually I heard they're using magnets
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#10
09-01-2006, 11:56 PM
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Re: The real reason oil is dropping, and a boom in the U.S. is coming:
Oil prices have been over $10 per barrell for decades, yet none of the greedy oil companies bothered to pickup easy money by extracting this oil. My guess is the real costs are in excess of $50 per barrel, and unless oil prices stay substantially north extraction costs for an extended period, no private business will take the risk here.
Of course Carter's administration wasted billions trying to extract shale oil economically, why not the bush administration?
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