Article

2007-06-19 Africa Subsaharan

Recalculating again: 600 mil. bbl oil discovered offshore from Ghana

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Posted by trailing wife 2007-06-19 13:56|| || Front Page|| [11132 views ] Top

#1 My apologies: this should be Non-WOT, Horn of Africa.

Posted by trailing wife 2007-06-19 14:13|| 2007-06-19 14:13|| Front Page Top

#2 peak oil is like the horizon, always getting closer, never quite there ;)

Posted by Liberalhawk 2007-06-19 14:14|| 2007-06-19 14:14|| Front Page Top

#3 peak oil is like the horizon, always getting closer, never quite there ;)

Posted by Liberalhawk 2007-06-19 14:14|| 2007-06-19 14:14|| Front Page Top

#4 Quick! Seize it before the local thugs get it!

Posted by DarthVader">DarthVader 2007-06-19 14:15|| 2007-06-19 14:15|| Front Page Top

#5 Hmmm... but where will the oil be refined?

Posted by mrp 2007-06-19 14:23|| 2007-06-19 14:23|| Front Page Top

#6 they won't be able to pump it for export for a dozen years

Posted by mhw 2007-06-19 14:55|| http://hypocrisy-incorporated.blogspot.com/]">[http://hypocrisy-incorporated.blogspot.com/] 2007-06-19 14:55|| Front Page Top

#7 What is the predominant religion in Ghana? Just askin...well, according to wikipedia it's Christian 63%, Indigenous beliefs 21%, Muslim 16%. Cuz, you know, it could be an issue with some folks.

Posted by Ebbang Uluque6305 2007-06-19 15:03|| 2007-06-19 15:03|| Front Page Top

#8 While this indeed appears to be a large discovery, we need hundreds like this per year to support our current consumption. Ain't happening, people.

Posted by Glenmore">Glenmore 2007-06-19 15:09|| 2007-06-19 15:09|| Front Page Top

#9 Koffi just wet his pants.

Posted by mojo">mojo 2007-06-19 15:24|| 2007-06-19 15:24|| Front Page Top

#10 EU6305
The ROP is located mostly along the northern border. IIRC the south is Christian.

Al

Posted by Frozen Al 2007-06-19 15:28|| 2007-06-19 15:28|| Front Page Top

#11 Glenmore is correct. We are at our world peak or very close. US hit our domestic peak in the 1970s. 60% of current crude is coming from Saudi Arabia, Iraq, and UAE. In 20 years, 80% will be coming from there. That's why we are in Iraq. And you know what? I'm fine with that. However, we must cut our consumption, or we will find ourselves in a bad place 25 years from now. And this is coming from a well respected petroleum geologist.

Posted by 0369Grunt 2007-06-19 15:35|| 2007-06-19 15:35|| Front Page Top

#12 60% of current crude is coming from Saudi Arabia, Iraq, and UAE. In 20 years, 80% will be coming from there

In the context of what/who. Russia has moved past SA in exports and likely has peaked itself. 600 million bbl is roughly the size of the US Strategic petroleum reserve..... Roughly 50 days of US imports.

Posted by Shipman 2007-06-19 16:15|| 2007-06-19 16:15|| Front Page Top

#13 The thing about peak oil is that its misleading, new wells actually keep coming online as older wells dry up or their flow lessens. The biggest discoveries actually still wait up for us because they are deeper to drill for. As drilling tech improves new areas and deeper depths will yield more oil.

Posted by Valentine 2007-06-19 16:56|| 2007-06-19 16:56|| Front Page Top

#14 What I meant to say was that approximately 62% of the remaining conventional reserves on the planet are in just a few Middle East countries of Saudi Arabia, Kuwait, UAE, Iraq, and Iran, plus a few more little Arab countries. All of these are clustered around and just to the east of Israel. Because most other countries have either already peaked, meaning that they are producing their second half of reserves, and the Arab counties have such large reserves plus many years left until their reserves peak, the percentage of the world supply of remaining reserves in those Arab countries will go up from 62% to 70, or possibly 80 as time progresses. They have us over a barrel now, and will by a wider margin in the future.

Posted by 0369Grunt 2007-06-19 17:22|| 2007-06-19 17:22|| Front Page Top

#15 I expect the Chinese with trillions locked up from their ~~Walmart~~ commercial dealings with the US West, will already be buying up the futures on it. One politician or whole African governments at a time if necessary.

Posted by Procopius2k 2007-06-19 17:23|| 2007-06-19 17:23|| Front Page Top

#16 No need to be quite so gloomy, folks. Here's some happy news ...

"This year's review, which covers the period to the end of 2006, included an assessment of the size of Canadian oil sands for the first time. They stand at 163.5 billion barrels."

That's equivalent to almost 40 years of US imports.

http://uk.news.yahoo.com/rtrs/20070612/tbs-uk-bp-review-9c49c44.html

Posted by Kirk 2007-06-19 20:40|| 2007-06-19 20:40|| Front Page Top

#17 Oh, yeah its out there, but the technology required to get to some of this "reserve" is going to push gas higher than $5 a gallon.

Posted by 0369Grunt 2007-06-19 21:13|| 2007-06-19 21:13|| Front Page Top

#18 Seems the dinasaurs clustered as they croaked? Hmmm. Maybe the earth produces oil?

Posted by Thrusort Bluetooth7235 2007-06-19 21:24|| 2007-06-19 21:24|| Front Page Top

#19 US coal reserves: 265 billion tons
Converted to F-T diesel: > 500 billion barrels
If converted using hydrogen suppied by nuclear plants: > 1.3 trillion barrels

And don't even talk about shale.

Posted by ed 2007-06-19 23:09|| 2007-06-19 23:09|| Front Page Top

23:41 Gary and the Samoyeds
23:33 ed
23:31 Bright Pebbles
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23:18 Zenster
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23:03 3dc
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22:58 Super Hose
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22:20 Pappy
22:18 Zenster
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