: Alaska Drilling has commenced...



ben72227
11-04-05, 11:56 PM
As of Nov. 3, 2006, the Senate has lifted the ban on drilling in ANWR in Alaska. They failed to include the anti-drilling stuff in the '06 budget, and budgets can't be fillibustered, they must be passed by a majority though, however it is likely it will get passed.

I think this is great, its about time we stopped relying on OPEC for all of our oil...
http://upload.wikimedia.org/wikipedia/en/3/33/25-Alpine_winter_exploration.jpg

SpeedyArizona
11-04-05, 11:59 PM
It's about time, Alaska has a bigger supply of underground pretroleum than Texas!

Maybe these gas prices will regulate in the coming months.

Ralph
11-05-05, 12:07 AM
From what I've read, the drilling they've opened up isn't going to add very much to U.S. reserves. Most of Alaska's oil fields are already going full bore. I doubt if it'll affect oil prices very much.

Anyone know who's got the drilling rights?

ben72227
11-05-05, 12:15 AM
I think it goes to Exxon:devil:but then again since they're hated in Alaska, it may go to Shell or BP...I've heard that the EPA estimates that there are about 8 billion gallons of drillable oil up there...

Ralph
11-05-05, 12:29 AM
I think it goes to Exxon:devil:but then again since they're hated in Alaska, it may go to Shell or BP...I've heard that the EPA estimates that there are about 8 billion gallons of drillable oil up there...

Wasn't it just a few days ago that some Chinese group filed with the SEC to pull off a $450 billion takeover of Exxon?

According the US Geological Survey the amount of barrels ranges from 16 billion to 5 billion, but how easily it can be extracted is another matter.

illumina
11-05-05, 12:53 AM
From what I've read, the drilling they've opened up isn't going to add very much to U.S. reserves. Most of Alaska's oil fields are already going full bore. I doubt if it'll affect oil prices very much.
Anyone know who's got the drilling rights?

It may actually help in reducing the instablitity of the crude-oil market, thus at least keeping prices stable for now...Just maybe...

Jesda
11-05-05, 01:45 AM
Higher oil prices always lead to greater investments in drilling technology. High prices keep prices low, low prices lead to higher prices. At least, thats one theory.

Ralph
11-05-05, 03:32 AM
It may actually help in reducing the instablitity of the crude-oil market, thus at least keeping prices stable for now...Just maybe...

You'd need quite a lot of petroleum opened up on the market to stabilize it. It'll take time for them to get production rolling. But we'll see in a few years.

davesdeville
11-05-05, 06:44 AM
Not going to make a big impact on prices with world demand at its current levels. Did they even bother putting a limit onto how much shit they could build in ANWR? Last time I remember it being like 5000 acres or something, but instead of a little dot in a huge place it was little lines snaking all over the place...

Stoneage_Caddy
11-05-05, 04:36 PM
itll take 10 years for us to see a drop that makes a diffrence

drilling isnt as invasive as you might think , lived up there for awhile ...everyone makes a big deal out of it till the see what were dealing with and how drilling acutally works ...its amazing how far away from the station you can reach , its not like the old pictures of texas everyone shows with a well every 40 feet , things are diffrent , if memeory serves you can drill out in diffrent areas miles away without moving the rig

but i do wonder about the pipeline , it was supposed ot be dismantled in 20 something years and the land it rides on was supposed to be restored to the pre pipleine condition ...