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Sometimes Reserves go Down

Permanent Linkby wisconsin_cur on Wed Oct 27, 2010 7:20 pm

Alaska's Untapped Reserves lowered by 90%.

The U.S. Geological Survey says a revised estimate for the amount of conventional, undiscovered oil in the National Petroleum Reserve in Alaska is a fraction of a previous estimate.
The group estimates about 896 million barrels of such oil are in the reserve, about 90 percent less than a 2002 estimate of 10.6 billion barrels.

The new estimate is mainly due to the incorporation of new data from recent exploration drilling revealing gas occurrence rather than oil in much of the area, the geological survey said.



OPEC reserves were revised upwards through out the 1980's not because more oil was found but because the allotment system which dictates how much each member can pump is based on official reserves. If you increase your reserves, you can pump more. Once one member country starts increasing...

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2 Comments Viewed 54717 times

The Virtue of an Oil Change

Permanent Linkby wisconsin_cur on Tue Aug 24, 2010 8:33 pm

It is a shame that, for the most part, we have stopped changing our own oil. I'm not saying thing itself is so important, but rather the virtue that arises from doing such a small, technically simple but high consequence task for one's self. Changing oil is a straight-forward affair, within reach nearly everyone. When it is completed, one is left with the consequences of their own work. If you forget to put on the filter and oil spills to the ground as you re-fill it, there is no one to blame but the mechanic. If the plug comes loose after forty miles, there is no one to sue but the person swearing in the rear view mirror.

He who changes his own oil also comes face to face with his own waste in a manner that is all too rare these days. Dirty oil must be placed in a bottle of some sort, usually the empties your new oil came in, and carried with all its weight and volume to be recycled. It does not magically disappear like when the speedy lube does the job while you drink coffee and watch...

[ Continued ]

2 Comments Viewed 55275 times

Falling Down Stairs

Permanent Linkby wisconsin_cur on Mon Jul 26, 2010 7:49 pm

In the last week many news sources made hay over the observation that China has surpassed the United States in gross energy consumption.

American journalist Matt Taibbi employed a grotesque analogy last summer to describe the Wall Street titan Goldman Sachs as a "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money".

In the energy industry, a similar phenomenon has arisen to invite respect, admiration and fear - China's appetite for oil. No survey of the oil sector's present and future can now afford to omit the China factor and its multiple ramifications.

This major new reality in geo-economics has just been underscored by a report from the International Energy Agency


The Asia Times

Lets assume for a minute that if $147 a barrel oil did not result in a net...

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Last edited by wisconsin_cur on Mon Jul 26, 2010 8:33 pm, edited 1 time in total.

2 Comments Viewed 54658 times

Taking off the gloves

Permanent Linkby wisconsin_cur on Tue Jul 13, 2010 12:59 am

If you look at my hands, you can tell that the money I bring home is not earned with my hands. Comapre them to my father's, uncles or grandfathers and there is no doubt who went to college and is privilidged to work in climate controled comfort. Though I keep nearly every spare minute filled with a variety of maintance and expansion projects around the homestead, my hands do not show it; mostly thanks to good gloves.

This weekend I had a lot of work to do and I took off the gloves.

While I love good gloves and will still use them for more dangerous work, I have decided to start building some callouses and scar tissue now. Developing thick skin now reduce by one the number of things that might slow me down when I need to work with these hands in a more consistently rough environment.

4 Comments Viewed 65511 times

Media Review: The John Batchelor Show

Permanent Linkby wisconsin_cur on Sat Jul 03, 2010 4:26 am

The John Batchelor Show (Monday - Sunday from 9 PM-1 AM) is an essential tool for understanding the new order in the 21st Century. Each week John brings 77 WABC listeners breaking news with a carefully cultivated team of sources and correspondents around the world, providing information long before it hits the mainstream media. Described by some as a cross between Matt Drudge and Coast to Coast, The John Batchelor Show is for the thoughtful listener who wants to understand the major players in the great ideological battle of the new millennium.


WABC Radio

I discovered John Batchelor on accident. Flipping through the stations on my satellite radio one night I came across his voice, tuned in for a while and was hooked. I have since traded in the satellite radio for an MP3 play but still make listening to the show a regular part of my week.

What I find most annoying...

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0 Comments Viewed 48119 times

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