"off the coast of California, some of these resources have already been leased. A report from Wall Street research house Sanford C. Bernstein says that California actually could start producing new oil within one year if the moratoria were lifted."
The libscum also blame “speculators” for today’s high price - even going so far as to try to pass a law to curb “speculation” - but conveniently forget that those same speculators will push down the price of oil NOW if new production is scheduled to come on line even several years out.
Of course it’s a lie. If the moratorium on offshore drilling were lifted today, the first platforms could be in place in a few months and drilling within a year. Platform production would also ramp up quickly to meet new demand. I predict that in 2 years, there would be 10 times as much drilling and pumping from new wells as goes on now.
Good find.
I work on an oilfield suppy ship. It takes six weeks start to finish to drill a well. Takes two weeks to install a platform. A week or two to tie in a pipeline. We lay pipeline in 8 mile sections. Float em in to place and then sink em. You can sevice many wells from a single large platform. Right now we are drilling for gas in shallow water.
bump
Congress must not only mandate the sale of leases but they must also mandate the right of the lease holder to produce (drill for production of oil or gas)!
Just look at the 2.6 - 3 trillion cu.ft. of dry natural gas under the Destin Dome where production has been denied. Chevron held the lease for years and years. They did extensive siesmic exploration and even test wells. But when Chevron applied for permits to drill and start production the Gov. refused the permits. Chevron sued the Gov. (twice I think) but failed. Eventually the Gov. bought back the leases for $113 million.
The EnviroWacos stirred up the Fla. locals with the fears of giant oil spills. BUT WAIT! This is a couple of trillion cu. ft. of Dry Natural Gas not that evil yucky oil!!!
It is 25 or so miles off shore. Plans were to lay pipe lines on the bottom to Mobil Ala. where the gas would be cleaned up in existing gas scrubbing plants and then push it right into the contries existing natural gas pipelines! Fast Easy Access(water depths less than 200 ft.)
Doesn’t the mortorium end the end of September 2008? Hope so. Then they can begin bring in the oil sooner than later.