Oil Rig Explodes off LA Coast

Yurt said:
right now, i believe it offsets it by about 10%...that is just off the top of my head, and it is estimated there are billions more, it is a fact that rigs are far safer now than they were decades ago...

as to employ and livelihood, again, i would look at the long view...its like looking at an auto accident and saying you're never driving again
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No, it isn't.

You have some issues with scale.
 
If you are asking how much currently... the OCS produces roughly 30% of US oil production. (roughly 500k brls per year)

if you are asking how much COULD it.... very hard to say. The last time they drilled test wells and surveyed the area was over 20 years ago (technology has obviously improved since then). ESTIMATES... please note these are very rough guesses due to preceding sentence.... are that there is about 60 billion brls that are economically recoverable on the OCS.
 
Superfreak said:
If you are asking how much currently... the OCS produces roughly 30% of US oil production. (roughly 400k brls per year)

if you are asking how much COULD it.... very hard to say. The last time they drilled test wells and surveyed the area was over 20 years ago (technology has obviously improved since then). ESTIMATES... please note these are very rough guesses due to preceding sentence.... are that there is about 60 billion brls that are economically recoverable on the OCS.
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I'm much more interested in consumption than production.
 
Onceler said:
I'm much more interested in consumption than production.
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Last number I recall, we consume about 23-25 million brls per day. so OCS currently produces about 2% of our consumption currently. Based on todays consumption level, the potential is to produce another 4% from the lower 48 via off shore.

1mm extra brls per day equates to roughly $31B per year that would stay in the US (based on current oil prices). You would have to ask toppy how that equates in terms of jobs to produce that oil.

So back to your question... how much is this going to cost to clean up this spill vs. the potential benefits of that oil production?

Obviously we will unfortunately have to wait to see on that, but it is a good point on your part.
 
Superfreak said:
Last number I recall, we consume about 23-25 million brls per day. so OCS currently produces about 2% of our consumption currently. Based on todays consumption level, the potential is to produce another 4% from the lower 48 via off shore.

1mm extra brls per day equates to roughly $31B per year that would stay in the US (based on current oil prices). You would have to ask toppy how that equates in terms of jobs to produce that oil.

So back to your question... how much is this going to cost to clean up this spill vs. the potential benefits of that oil production?

Obviously we will unfortunately have to wait to see on that, but it is a good point on your part.
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I guess that's the equation I'm looking at now. I was afraid those #'s would be this low.

It would be hard to argue that 2-6% makes any significant difference whatsoever in our need for foreign oil. It is pretty negligible. The logical question that follows...is it worth it?
 
Superfreak said:
Last number I recall, we consume about 23-25 million brls per day. so OCS currently produces about 2% of our consumption currently. Based on todays consumption level, the potential is to produce another 4% from the lower 48 via off shore.

1mm extra brls per day equates to roughly $31B per year that would stay in the US (based on current oil prices). You would have to ask toppy how that equates in terms of jobs to produce that oil.

So back to your question... how much is this going to cost to clean up this spill vs. the potential benefits of that oil production?

Obviously we will unfortunately have to wait to see on that, but it is a good point on your part.
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lets say this one oil spill costs more than the profit and/or benefit (which is really hard to estimate) than all the drilling we have done to this point. should we stop drilling offshore?
 
Onceler said:
I guess that's the equation I'm looking at now. I was afraid those #'s would be this low.

It would be hard to argue that 2-6% makes any significant difference whatsoever in our need for foreign oil. It is pretty negligible. The logical question that follows...is it worth it?
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The answer will depend upon how bad the impact of this spill ends up being. It will also depend upon... could this have been avoided with tighter regs? (such as mandatory auto shut off valve, etc...)

As far as the 2-6%... I would argue that is a significant upgrade in our production of domestic oil. Without it, that is simply more money we are contributing to other countries who may have looser regs than we do (also could have tighter obviously). As long as we are using the oil, I think it would be wise to produce as much of it ourselves as we can. Provided of course we do everything we can to limit situations like Horizon from occurring.

Obviously we both agree on the need for the US transitioning as much as possible to alt/cleaner energy sources. But until we do... a logical question to ask is where/who do we get the oil from?

follow that with.... if we refuse to drill in the OCS and Mexico/Russia (via Cuba) or Brazil etc... come in and do drill... are we more or less secure in our belief that a Horizon won't occur?
 
Superfreak said:
The answer will depend upon how bad the impact of this spill ends up being. It will also depend upon... could this have been avoided with tighter regs? (such as mandatory auto shut off valve, etc...)

As far as the 2-6%... I would argue that is a significant upgrade in our production of domestic oil. Without it, that is simply more money we are contributing to other countries who may have looser regs than we do (also could have tighter obviously). As long as we are using the oil, I think it would be wise to produce as much of it ourselves as we can. Provided of course we do everything we can to limit situations like Horizon from occurring.

Obviously we both agree on the need for the US transitioning as much as possible to alt/cleaner energy sources. But until we do... a logical question to ask is where/who do we get the oil from?

follow that with.... if we refuse to drill in the OCS and Mexico/Russia (via Cuba) or Brazil etc... come in and do drill... are we more or less secure in our belief that a Horizon won't occur?
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I know what you're saying about tougher regs, and there is some truth there.

I have a couple of issues with that, though. First, oil lobbyists rule Washington; the money spent is absurd. Congress could possibly mandate valves now, but only because of public demand after something like this.

Second is that America tends to be reactive with regard to regulations. Hijackers use box cutters, so we ban them. Hijackers use shampoo, so we ban it. The damage from an oil spill could have been lessened w/ mandatory valves, so we mandate them.

What else is out there? What other contingencies could happen w/ a rig that would have this kind of impact? I'd wager that the average Congressman has no idea, until it happens, and the public at large certainly doesn't know.
 
Onceler said:
I know what you're saying about tougher regs, and there is some truth there.

I have a couple of issues with that, though. First, oil lobbyists rule Washington; the money spent is absurd. Congress could possibly mandate valves now, but only because of public demand after something like this.

Second is that America tends to be reactive with regard to regulations. Hijackers use box cutters, so we ban them. Hijackers use shampoo, so we ban it. The damage from an oil spill could have been lessened w/ mandatory valves, so we mandate them.

What else is out there? What other contingencies could happen w/ a rig that would have this kind of impact? I'd wager that the average Congressman has no idea, until it happens, and the public at large certainly doesn't know.
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I agree with the above. The problem is finding someone who DOES know what should be done that is not biased towards one side (oil companies) or the other (no drilling).

Or make the fine per brl spilled so harsh that the companies won't want to risk it??? (just thinking aloud here... so to speak)
 
d32_02010119.jpg


The growing oil slick in the Gulf of Mexico is captured in this image from NASA's (MODIS) instrument aboard the Terra satellite. This natural-color image acquired April 29, 2010 shows a twisting patch of oil nearly 125 km (78 mi) wide.
 
When is Obama going to commit federal resources to help clean this shit up? This is his Katrina, except he has no political rival trying to stop him.
 
Southern Man said:
When is Obama going to commit federal resources to help clean this shit up? This is his Katrina, except he has no political rival trying to stop him.
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Oil companies wanted almost no governmental regulation and they got it...

Then they demanded that any repeal of the tax breaks they now get would be disastrous...

NOW though, they expect the government to step in and clean up their mess.

After years of record breaking profits and tax breaks they don't deserve, they STILL expect the taxpayer to clean up after they're mistakes.
 
i've repeatedly heard from liberals on this board that there was no shut off valve....please provide proof of your statement that BP did not have a shut off valve
 
Southern Man said:
When is Obama going to commit federal resources to help clean this shit up? This is his Katrina, except he has no political rival trying to stop him.
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God you partisans make me laugh. You just think what you want to think and that if you say it often enough it's true. The USCG was at the site of the Oil Rig explosion within hours in "search and rescue mode". It was fully two days later when the oil rig sank and this "Spill" began. By that time The USCG had all ready set 78 ships in place equiped with literally hundreds of miles of floating booms in an attempt to contain the slick. By the next day over 100 ships were in place and the Navy was assisting BP with it's submersible technology in an attempt to close the well head 5,000 ft under the water and the US Air Force and other DOD planes were on stand by, loaded with chemical dispersants to spray over the oil slick. This all happened with in 24 hours of the oil rig sinking. So much for your imaginary lack of response.

Where were you guys when Bush fucked up the Katrina response?

So I guess by your Standard the DOD is not part of the Federal Government?
 
ZappasGuitar said:
Oil companies wanted almost no governmental regulation and they got it...

Then they demanded that any repeal of the tax breaks they now get would be disastrous...

NOW though, they expect the government to step in and clean up their mess.

After years of record breaking profits and tax breaks they don't deserve, they STILL expect the taxpayer to clean up after they're mistakes.
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I don't think that's going to happen. We no longer have oil men in the white house who will bend over and lick the shit off their asses and say "Yummy!".

BP will be lucky to still be in business in this country when all is said and done and the bill for this mess is laid at their door. I think what you will see is an attempt by BP to begin transfering as much assets as they can out of the US.
 
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