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Author Topic: Fossil Fuels: Degraded Democracy and Profit Over Planet Pollution  (Read 11554 times)

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AGelbert

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    • Agelbert Truth AND Consequences
Aerial view of the Auger Tension Leg Platform in the deep-water US Gulf of Mexico in foreground. Noble Jim Thompson drilling rig in background. Photo credit: Royal Dutch Shell

Will Oil Majors Actually Sink Money Into Americaís Waters?

January 5, 2018 by Bloomberg

SNIPPET 1:

Itís not that there arenít potentially good prospects out there. Alaska and the Gulf of Mexico are obviously well-developed in certain areas already. The waters off southern California are also tempting. Meanwhile, using a little Pangaean jigsaw-puzzling, West Africaís prolific fields suggest there may be similar riches off the Eastern Seaboard.

And itís not like major oil companies are brimming with exploration prospects right now. The energy crash crushed spending on discoveries, with 2017 seeing the fewest on record, according to Rystad Energy, a consultancy. Another firm, Wood Mackenzie, estimates just $37 billion will be spent on exploration this year, down more than 60 percent from 2015.

There are two big complications when it comes to capitalizing on Americaís federal waters, though: politics and time.

SNIPPET 2:

Offshore spending isnít dead.Some operators, such as Norwayís Statoil ASA, have worked hard to cut costs and shorten schedules to make projects work at lower prices.

In the Gulf of Mexico, William Turner of Wood Mackenzie authored a recent report forecasting oil and gas production to reach a record of 1.94 million barrels of oil equivalent per day in 2018.

However, he cautions that exploration spending there will remain flat this year and activity will focus on less-ambitious projects, such as those tying back to existing fields and infrastructure. Current energy pricing, and the renewed focus on staying nimble when it comes to deploying capital, are powerful restraints.

And these challenges would be magnified in new, relatively undeveloped areas. Turner points out, for example, that the swiftness of the Gulf Stream, a wide current running parallel to the Eastern Seaboard, could present big challenges to drilling on the Atlantic shelf.

Full article:

http://gcaptain.com/will-oil-majors-actually-sink-money-americas-waters/

Agelbert NOTE: The problem humanity has is NOT lack of hydrocarbons; it is the adamant and totally unreasonable refusal to accept the FACT that we have ALREADY exceeded the "carbon budget" for a FOUR DEGREE C rise in average global temperature, never mind a TWO DEGREE C "target". We are now on our way to 10 DEGREES C PLUS! The worse scenario the IPCC came up with (BAU RCP-8.5) is too conservative a projection of the heat increase (it is MUCH, MUCH WORSE!).

Anyone telling you that fossil fuels are "running out" needs to read the published figures from the oil and gas producing nations of this planet. The emissions are INCREASING, NOT "leveling off or decreasing". PLUS, tropical rain forests AND permafrost melt are now ADDING to the carbon emissions! GHG is GHG. no matter where it is coming from! You are NOT going to turn this heat engine off easily. Several heat adding feedbacks we have triggered by burning too much fossil fuels are NOT in our control, PERIOD.

Where in God's good earth these fossil fueler wishful thinking FOOLS think that we are somehow going to get a handle on this massive heating NOW IN THE Global Warming radiative forcing INERTIA pipeline, even if we stopped all hydrocarbon burning today (rather than the present tragic reality of increased burning), is a mystery to me. They certainly DO NOT get this idea from empirical evidence or sound science.

This stubborn clinging to a happy talk myth about some "quick recovery from fossil fuel burning caused global warming" is a testament to the extremes people in denial of an extinction threat reality will go to. 

And for the propagandist liars that know the truth and push the happy talk for money, I can only say that they are greater fools than those naive folks that believe the fossil fuel fascist funded happy talk lies and distortions. These bought and paid for propagandists are behaving as STUPIDLY as any person possibly can. You STUPID, MONEY LOVING BASTARDS deserve the Darwin Evolutionary Dead End Award.



Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

 

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