Friday, September 08, 2006

Magnificent News!!!!

One thing the summer of 2006 gave us in a nutshell is the way the modern media jumps on a story, only to have it fade out several days, weeks, or months later. Without spending a syllable on the nut involved, let's just say this lesson came via Boulder, Colorado. It was a highly visible example of how easy it is to get played. The scary part is that these breakdowns in the fact-checking process are now standard operating procedure for governments, celebrities, or whomever else wants to manipulate our brains. In fact, ladies and gentlemen, prepare for a shock: I now believe the Bush administration and its allies in big business sometimes lie to us, and they use the media to sell those lies. I know it's disturbing, but this behavior is so rampant it can't be ignored. Of course, we shouldn't be too upset when a story falls apart. It's not like we went to war over it or anything. Okay, bad example.

Today's version is the big new oil find in the Gulf of Mexico. Let me quote from the link below: "The announcement is reminiscent of the Mexican "huge oil discovery" announced last year, of a possible 10 billion barrels, which was quietly revised this year to around 43 million barrels, a downward revision of 99.57%. This similar "discovery" was made in Mexico last year a few months before the Mexican parliament was to vote on Pemex (state oil co)'s budget and rights to expand drilling. This illustrates the potential political pressure to announce oil and gas discoveries."

So two months before an election in which the high cost of gasoline has to be a factor, we miraculously get news that a new oil field estimated to be from 3 billion barrels all the way to 15 billion barrels suddenly turns up! Wow, that is extremely good news! There are even columnists slamming the Peak Oil crowd for how disappointed they must be, that they were wrong. If you want to read more about this news story try the link below. One little tidbit: Did you know they report natural gas in terms of the equivalent barrels of oil, only they pretend it really is oil? Oh, and one other thing that seems a little fortunate for the Bush administration and its oil company buddies: This magnificent news comes at a tremendous time. "The US Senate is weeks away from voting on the lifting of the 25-year ban on offshore drilling off the majority of the coasts in the US." Wow, this could be the break we were looking for! Folks, not even the detectives in Boulder, Colorado would fall for this one.
Clarification of the Huge Chevron Gulf Oil Discovery | | Peak Oil News Clearinghouse


At 12:56 AM, Anonymous Anonymous said...

A heartbreaker for those of us actually looking for some cheerful and genuinely "magnificent news"--- thanks a lot!

At 1:26 PM, Blogger Bill McDonald said...

I long to be the bearer of good news, but the truth is better than an illusion any day, especially if there is deception. This one wasn't a total lock but anytime the estimates vary from 3 billion to 15 billion you know something is wrong.

At 10:02 AM, Blogger LaurelhurstDad said...

Fifteen billion barrels of oil, at a 2005 consumption (US-only of 20.5 million barrels per day -- probably much higher now) is about 750 days, or a little over two years.

If it's three billion, it would last about 150 days. Of course, natural gas is easier and cheaper to collect and use, but energy is energy. This ain't no silver bullet. (But it will help Dick and his pals in the election.)

At 11:42 AM, Blogger Bill McDonald said...

You know, one thing I was amazed at about this story:
The depth of the well. It's staggering they can go that far.
Of course, loading oil onto tankers rather than right into a pipe is really going to slow things down.
Then you've got to look at the growing demands of China and the rest of the world.
This might not even mean a net positive if it's true,
and it's probably not true.


Post a Comment

<< Home