Now $34 Crude Oil For Sale : New Multi-year Low

let's consider scale. the kola well stopped at 7.6 miles. because it got so hot it turned to goo. that is not very far when you consider the rough distance to the center of the earth is over 6000 miles. I did the math at one time and it came out to about .001%. I have been trying to come up with an analogy for this. I think it is compareable to a piece of saran wrap on a basketball. and the earth is smoother than a basketball. the distance from the highest mountaintop, to the lowest point in the sea, is 12 miles. the circumference is 25000 miles.
therefore, all we know of is less than 1% the other 99% is basically on fire. since a sphere has the greatest internal volume of any shape, it is not unreasonable to think that the earth simply "sweats" oil as it cools. it is also not unreasonable to expect it to pick up life on the way up. there are many known forms of life that eat oil.
considering that we have only recently discovered the 3rd largest lifeform on earth. [archaea] it would seem wildly presumtous for us to pretend we know what is down there.

just my 2 cent's

" the important thing is to never stop questioning, curiousity, has it's own reason for existing..
Albert Einstien

Profits are still important. Ridiculous!

Feb. 11 (Bloomberg) -- At $4.899 a gallon, Eel Chang may be selling the most expensive gasoline in the U.S.

Less than a mile from his Ashwood Exxon station in Summit, New Jersey, motorists fill up for $1.799 a gallon at an independently owned Delta station. That’s more in line with New Jersey prices that averaged $1.598 in January, according to GasBuddy.com, a Web site that tracks prices.

“This is just ripping people off,” said Ed Morse, 79, of West Babylon, New York, who left without making a purchase when he saw Chang’s prices. “They are just prohibitive.”

Chang said he can’t compete on price because of the wholesale rate that Exxon Mobil Corp. charges him. The high pump price slows volume to a trickle but yields a bigger profit margin to help the money-losing station stay afloat, he said.

More Here:
http://www.bloomberg.com/apps/news?pid=20601213&sid=ak5Ln2vs... l

price per barrel goes down it sure isn't showing at the gas pump. I think all the taxes they put on at the pump will keep the price of gas up.

And still, oil in storage is growing....

And Iran has a presidential election this summer.....

Putin is facing unrest, due to falling state revenues / expenditures......

So is Chavez....

Dubai, and with it, the UAE, is collapsing.....

Iraq disparately needs money for reconstruction........

The North Sea producers are facing increasing unemployment and strain on government coffers.......

Mexico is on the verge of failing completely............

Brazil, the only country with some meaningful finds recently, is seeing it's non oil economy rapidly deteriorate.....

And who knows what's going on in Saudi. With all the other big producers obviously ready to benefit from quota cheating, maybe the Saudis will have to teach them a lesson again. Like say, keep your quotas or face $8/barrel oil, you minions. They sure won't get any push back from their stimulus hungry primary guardians. More like promises of more arms to help quell any social unrest resulting from such low prices.

You wrote:

"Please read what our own
On February 12th, 2009 oldskoolpatriot says:
Please read what our own government is saying with the U.S. Geological Survey about the Bakken Oil Field that Lindsey Williams has been talking about."

First... are you placing credence into what the government says?? LOL

You also wrote:
"The Bakken Oil Field to Contain
8-times as much oil as Saudi Arabia
18-times as much oil a s Iraq
21-times as much oil as Kuwait
22-times as much oil as Iran
500-times as much oil as Yemen- and it's all right here in the Western United States.
That's enough crude to fully fuel the American economy for 41 years straight with ONE find!
estimated that of the 167 billion barrels (2.66×1010 m3) of oil in-place in the North Dakota portion of the Bakken, 2.1 billion barrels (330,000,000 m3) were technically recoverable with current technology see link above"

I had to read it 3x.. the article DOES NOT say this.. here's the headline:
"3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate—"

Where did you see 167 billion barrels???

Finally, you wrote:
"People who believe we are driving on dead dinosaur bones are once again believing what they have been told too believe -- HVAC is correct as is Lindsey Williams"

So you're telling me not to listen to what we've been told, but want me to listen to the government agencey, the USGS, which didn't even say what you said they said, :) , and ignore the science that I've been working in for 25 years? C'mon my brother...

If you think that we claim that oil comes from "dead dinosaur bones", you're listening to the wrong people yourself.

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Fossils Rock!!

maybe in the future, but not now. And, we are using less, designing better milege cars, China's not growing like once thought, and more and more other energy sources are coming on line. Now, the manipulation is in the "gasoline" market. In fact, if we have to have this damned stimulus package, wouldn't it be nice if we just launched a new program whereby the US would build 2 new nuclear plants in each State, and give to the State a way to reduce carbon emissions, and lower utility rates for their citizens. Too simple of a plan for the corrupt Washingtonians. Not enough pork and graft in this plan. Blast your congresspeople with negative fanfare about their actions. Let them hear it loud and clear, what a bunch of clutzes they are.

It's all manipulation folks. In early December 08, oil had apparently bottomed around the $33 dollar level. At that time, gas prices here were $1.39 a gallon. Over the past 8 weeks, oil has flucuated between 40 and 45 and just over the past week broke down again to go under 40 and sitting under 36 at present. Gas prices here are now $2.01. Where are Americans seeing the benefit of 36 dollar oil?

Supporting Evidence, Briefly

Oil being discovered at 30,000 feet, far below the 18,000 feet where organic matter is no longer found.
Wells pumped dry later replenished.
Volume of oil pumped thus far not accountable from organic material alone according to present models.
In Situ production of methane under the conditions that exist in the Earth's upper mantle. (PhysicsWeb; Sept. 14, 2004)
http://freeenergynews.com/Directory/Theory/SustainableOil/

" the important thing is to never stop questioning, curiousity, has it's own reason for existing..
Albert Einstien

So you tell me:
"you need to quit listening to oil people who control that market.."

But you want me to listen to somebody who tells us that an oil company insider tells him these things? So listen to some oil folks but not others?

Now I can't say for sure that there's NOT all this easy oil in Montana and Alaska like Lindsey claims, but it just doesn't make sense to me. I'm sitting out here, right now in the Gulf of Mexico, on a billion (with a B) dollar drilling ship, in over 6,000' of water, drilling a $100 million dollar well that is 32,000' deep. I've worked on several $200 million dollar *dry holes* in the last couple of years.

What could the logic possibly be for not going after the easy oil while spending serious cash, serious cash even for an oil company, out here in this incredibly difficult environment?

Lindsey sure does make some convincing dialog, and is very interesting to listen to. These claims just don't add up to me, please help.

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Fossils Rock!

Even people involved in the oil industry are starting to worry prices may go quite a lot lower in the short term. The economic slowdown is hitting exporters hard, and many of them don't exactly have the most popular of governments. Those may well have no choice but to pump all that they can to try to keep the mobs from kicking them out of the office. Regardless of what they 'promise' at OPEC meetings.

If for some reason this summer in the US should be mild, and the grim economy seriously crimps vacation travel, who knows how low we can go. Especially if some of the hedgies currently stockpiling the stuff runs out of cash and need to liquidate into a soft market.

I still believe any serious economic recovery will be constrained by oil, though, in the somewhat longer term. The flow rate declines are so dramatic in so many established fields, that I simply can't see where all the make up production is going to come from.

Lindsay Williams said crude would get under $50 and would stay there for a year to year and a half. Long enough to bankrupt the arabs. The financial crisis was already under way when fuel was high. Now the tax shortfall because no demand for oil. The bailouts and stimulus will keep coming until the FRN petrodollar is destroyed. Then they will usher in a new currency to "save" us. Lindsay Williams is right. He isn't B'sing.