Re: Why Arent We Making Our Own Oil?
We don't need to make our own oil. Right now the company I am working for is reopening older oil wells in the gulf. These wells ran dry and now are full again. I have seen the charts on them. They were producing nearly 100 barrels a day each in the 70's and slowed down to less than 20. We now have many of the same wells open and producing around 100 barrels again. Just think a minuite though about the operating costs. Our platform takes 2.84 million dollard EVERY DAY to operate. Now think there are like 240 offshore rigs out there not to mention the thousands of landrigs in use and this is just in the U.S. My company is hiring and offering huge bonuses for Kazahkstan, Oman, Quatar, Africa, Saudi Arabia. U.K, Australia and a host of other countrys. Offshore drilling is really taking off on the east coast of Canada and there are more and more landrigs showing up in Alberta every day. Production is not the problem. Refining the crude into all the millions of chemicals it is made into is what is so expencive. We need More refinery's and we need to have the U.S Government limit our oil trade with the Asians.