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quote:Originally posted by erichDear Folks, What do ya'll think of the talk of the 6 billion barrel claims of Eden Energy?They have contracted three wells this fall to 15000 feet on their Noah prospect in Nevada. Eden Energy Corp. newbielink:http://www.edenenergycorp.com/ [nonactive] Ely Times- Eden Energy seeks oil near Ely newbielink:http://www.elynews.com/archive/2005/07/15/LocalNews/324444.html [nonactive]Erich J. Knight
Originally posted by VAlibrarian"I do not take a position on this Nevada oil exploration effort, because I am no geologist."Oxymoron... If you are not a geologist how do you know that most of the petroleum in the lower 48 have been pumped?? Yes, the earths reserves are finite and alternatives such as nuclear will become cost effective as demand exceeds finite supply driving oil prices to a point that real alternatives are cost favorable. The point you miss is that in 1950 it was beleived that there was onlly 7to 10 years reserves, ditto 1960, ditto 1970 etc. However, no one knows what the finite reserves really are.If you are willing to write off proven reserves such as the Santa Barbara channel, areas where a toad might have to relocate or a tree hugger objects to the sight of a well head, dooms day will be sooner rather than later.Among the arguements against your hypothosis are the changing technologies for recovery and the fact that in many of the older abandoned fields in OK and TX the mineral ownership is so fragmented that it is virtually impossible to obtain title to harvest oil revoerable under current methods. For the time being you best be cheering the efforts and risk taking by companies like Eden and Tri-Valley Corp.
quote:Originally posted by BassFrom a geological standpoint, all the right ingredients are present:good source rocksgeologic structures to transport and trap hydrocarbon depositsyounger cap rocksThe only thing missing at this point is... OILSounds like a great place to look for the stuff, but other promising spots in the US overthrust belt have not panned out as expected. Wait for some positive results from the drill holes before investing. There may be a reason why Exxon pulled out the area years ago.Prediction is difficult, especially the future. -Niels Bohr
quote:Originally posted by VAlibrarianLet's discuss this in another fifty years. My prediction is that the United States will not be self-suffcient in petroleum in the year 2056. And if we somehow are, Florida will be gradually going underwater due to Global warming.