WayneS

Expect a New Direction for Crude Oil

Uba Tuba

Like I said in my comment, I am not against geothermal. It is a good, tried and true method of obtaining energy. I was only commenting on one word in your comment: "green." The vast majority of people touting "green" only want our money. I have been offered a dozen jobs since I retired. Each one I looked into was selling the word "green" for a profit, nothing else. Because of entropy, I don't think there is such a thing as green energy. Conservation could be called green. The energy we don't use is green.

Expect a New Direction for Crude Oil

BORT. I know it is anthropomorphism, but OIL is the monster that controls everything. Oil Companies have no control over it. Governments have no control over it. Governments and companies and consummers use it, but have to be careful it doesn't bite. Just like a dictator, we can change to alternative energy, but that too will eventually become the new dictator.
Directly and indirectly, our government gets the majority of tax revenues from OIL. They talk good in front of us, but they dare not actually do anything to OIL.
Once, in Houston, I was on a jury panel composed of 75 people. I wondered why there were so many of us, they only need 12. I found out it was a lawsuit against an oil company. The Judge asked if anyone benefited from the oil company in the lawsuit in any manner. Over 60 people raised their hands. They were all excluded, only gas station haters were left. Of course, the oil company lost.

Expect a New Direction for Crude Oil

PS: What about the dirt from drilling these geothermal wells? It is called "NORM." If you took a yard of it and put it into the playground sand I played in when I was little in New Mexico, you would never find it with a Geiger counter. But, in Louisiana, it was worth a billion dollars to one of their Judges. And to think, the oil company tried to remove their NORM dirt from his property for 10 years. Someone else had put it there. They only wanted their dirt back. The Judge was smart and hung onto it. It's good to be a Judge.
PPS: Did you know that playground sand is a "Particularly Hazardous Chemical?"

Expect a New Direction for Crude Oil

Geothermal wells have all of the same safety and environmental concerns as oil, gas or water wells. Because of the constant heat, changes in heat, corrosive effects of halides on metal at high temperatures special ,expensive piping and tubing will have to be used. To protect water aquifers from contamination or transference of heat to unwanted formations, special cement will have to be used. Then you have to think about disposal of the fluid that transferred the heat you just used up. Are you going to pump it back down to where you got it? What affect will this have on the bottom hole producing temperature? How long can you utilize this well? If you shut it in, how long before it goes back to the original bottom hole static temperature? Will it? What about precipitation of unwanted nasty stuff (the nasty stuff that plugs up and destroys your hot water heater every so often). How deep do you have to drill to find productive long lasting heat? How much heat will be lost in production? In the right (or is it wrong?) situation heat could be as damaging as an oil spill in Alaska to the environment. Could it destroy the world as we know it? Science fiction writers have said so, but they have big imaginations.
So, I'm against geothermal? I never said that. Just don't invest in it because you are told it is "Green." Actually, none of the alternative energies are "Green." "Green" is an advertising gimmick to attract customers or investors or anyone willing to part with their money in the name of "Green."

Expect a New Direction for Crude Oil

What a walk down memory lane. I worked on many of these green technologies in the 70's. We were going to be free of petroleum by the year 2000. I had almost forgotten.


On Dec 11 04:37 PM Casey Verdant wrote:

> Crude oil stocks will continue to fall as Americans and the global
> market find ways to phase down their energy use and phase in new
> green technologies. There are so many alternatives to crude oil that
> these stocks will continue to plummet. If you’re interested in alternative
> energies or green technologies, check out www.greencollareconomy....
> It has hundreds of case studies on emerging green technology. It's
> also the largest b2b green directory on the web.

Expect a New Direction for Crude Oil

An integrate oil company once cut out the middlemen as they did not need them. Besides speculators and shorters only function now days is to siphon off productive money into their own pockets to the detriment of the public. They saved a lot of money and passed these savings on to their customers. The government fined them 2 billion dollars for not feeding these sponges of society and for not receiving tax revenues expected from overcharging for gasoline.

Expect a New Direction for Crude Oil

Why is the stock for American Oil & Gas Companies going down? Since they import the majority of crude used in the US, their costs for refining should go down. Don't they want 60-65 dollar crude? If the dollar goes up, they pay less for services from foreign companies.
Also, it looks like it's going to be a cold winter. Shouldn't the money made on NG and heating oil go up based on volume alone, even if the cost to the consumer goes down?

How High Will the Price of Oil Go?

I belive that conservation is only a stopgap solution. But, it is something we could do today. I don't believe we should have cheap oil. Personally, I think gasoline should be taxed such that the cost never goes below $4/gal. I worked on all of the new alternative energies in the 70's. (gasohol, coal-gasification, nuclear, converting CO2 into methane and/or methanol.) Most of the farmers in my area had pickups that ran on propane or methane. What has changed? It seems renewable energy projects mean "an energy project that can be renewed every 10-20 years and make serious money without actually doing anything."


On Jun 08 12:10 PM Living4Dividends wrote:

> I agree that Wayne S - If we only conserved, there would be cheaper
> oil, and our oil would last longer.

How High Will the Price of Oil Go?

The only competition to the extremely cheap oil we enjoy is conservation, but no one is willing to go that route. We waste 25-40% of the auto fuel we buy.