Some things I want to know about the offshore drilling thing.
1) Where are we going to get the platforms?
2) How long does it take to build a new platform and at what cost?
3) How many platforms are we going to need in order to create the production needed to drive down prices on the world market and give us a break at the pump?
4) Where are we going to get the trained manpower to operate them?
5)How long does it take to train a platform crew and at what cost?
6) Are we going to build more refineries so we can handle the increased production?
7) The price of oil is finally high enough to make deep water drilling feasable, on a cost/return basis. The selling point for lifting the moratorium is to increase supply and drive down prices. So, what is the incentive for oil companies to undertake the expense of putting in wells that would drive down prices and produce oil that's not worth enough to cover their expenses?
8) If the oil companies do drill those wells, are we not permanently locking ourselves into higher oil prices?
Well all we have to do is say that we are going to drill and the price will drop to under 100 a barrel just ask oldelkhunter. Will the risk still be worth it at that price for the oil companies?
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I remember back following the oil bust of the 80s when people were praying for the price of oil to make it back up to 30 bucks a barrel. So, even accounting for inflation, I would think that the price of oil could drop quite a bit and it would still be profitable to put in new wells.
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Good questions, but let the oil companies figure that out. They need to spend the bucks for infrastructure development (not the taxpayer!), and if they don't recoup in prices they can get on the market, too bad for them for making a bad business decision. Oil companies don't set the price of oil, the global market does.If it's true we have more oil than the middle east and lots of it is in the areas opened by lifting bans, then I'm sure the expenses will be worthwhile in a big way. The alaskan pipeline was enormously expensive, but I haven't hearda single word of buyer's remorse.
Seems there is a world wide shortage of drilling rigs and all existing rigs are booked up solid. So... Where are we going to get the drilling rigs to pop the holes for our platforms?
Some things I want to know about the offshore drilling thing.
1) Where are we going to get the platforms?
2) How long does it take to build a new platform and at what cost?
3) How many platforms are we going to need in order to create the production needed to drive down prices on the world market and give us a break at the pump?
4) Where are we going to get the trained manpower to operate them?
5)How long does it take to train a platform crew and at what cost?
6) Are we going to build more refineries so we can handle the increased production?
7) The price of oil is finally high enough to make deep water drilling feasable, on a cost/return basis. The selling point for lifting the moratorium is to increase supply and drive down prices. So, what is the incentive for oil companies to undertake the expense of putting in wells that would drive down prices and produce oil that's not worth enough to cover their expenses?
8) If the oil companies do drill those wells, are we not permanently locking ourselves into higher oil prices?
1. 60 to 80% of jack up oil rigs are outsourced out of singapore. They have a log of 23 to build now wich will not be done until 2010, although they are still taking orders. China is jumping in with smaller orders to build.
2. Cost per platformis 120 million to 180 million, time table to build is 2010 with out new companies.
3. I'm working on the other questions, tough questions
60 to 80% of jack up oil rigs are outsourced out of singapore. They have a log of 23 to build now wich will not be done until 2010, although they are still taking orders. China is jumping in with smaller orders to build.
I'm tired of Asian garbage. I want to buy American. After all, this is supposed to be creating American jobs. Any help there?
Well all we have to do is say that we are going to drill and the price will drop to under 100 a barrel just ask oldelkhunter. Will the risk still be worth it at that price for the oil companies?
Funny how Bush mentioned offshore drilling and the price per barrel plummeted from almost 150 to 119.00 (todays price_. DO you really think it won't go down below 100 if Congress signs on ? How long it stays below 100is anyone's guess . Too many analysts are saying that oil should be priced at tops 80 per barrel these day. Maybe I shouldn't ask you that question since your pretty biased. If there were not aa reward for it the Oil companies wouldn't build any offshore platforms . Maybe its just better that the Chinese drill for oil in the Florida staitsand take our oil away from us.
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As I said, the oil companies want to drill and should take the risks of not recouping expenses.
oldelkhunter, in all fairness, global demand drops have assisted in the oil price decline as well as the prospect of opening up areas under a current ban.
I've heard oil platform infrastructure is in high demandsince the price ofoil is so high. Seems to me, companies should be forming to fill the void on the supply end and reap goodprofits, but Ihaven't heard anything either way.
Offshore Drilling ???'s
