Up to 100 billion barrels of oil discovered on land in UK - Polidicks

[url]http://www.bbc.co.uk/news/business-32229203[/url] [quote]There could be up to 100 billion barrels of oil onshore beneath the South of England, says exploration firm UK Oil & Gas Investments (UKOG).[/quote] [quote]The North Sea has produced about 45 billion barrels in 40 years.[/quote] [img]http://www.hellomagazine.com/imagenes/royalty/2013071913613/queen-smiling-royal-baby/0-69-868/queen-10--a.jpg[/img]

So you guys might be looking at reasonably priced petrol soon then? [editline]9th April 2015[/editline] I know they're about to drill $500 million dollars worth of exploratory holes out in the Great Australian Bite soon. Should be good for South Australia.

Shit, don't fuck over our prices now UK.

Important to note that [QUOTE]But only a fraction of the 100 billion total would be recovered, UKOG admits. ... Compared with similar geology in the US and West Siberia, it estimates that 3% to 15% of the oil could be recovered. [/QUOTE]Most of which might be extracted via fracking according to the article (or not, depends who's right), so while it's a valuable discovery, it's not going to outpace any of the Arab states for the cheapness of production.

[QUOTE=Mr Anonymous;47487989]Anyone know why this is a thing?[/QUOTE] It's about profitability. No point drilling a well if the well is more expensive than the oil. As the price of oil however goes up more wells become profitable. Ideally your oil field is very large (thus only needing one well to access) and near the surface (thus you don't need to drill far). Off the top of my head and depending on the type of rock, onshore wells are about $1m a km for soft rock to $10m a km for hard rock while offshore wells are $50m to$100m range depending on the water depth.

Now this time when we start pumping for oil thets get one of them oil fund thingies that the SNP where yammering about during the Independence debate.

Anyone else here not cool with oil drilling of any kind, certainly not fracking, onshore here in the south of england?

Time to liberate the UK from terrorists.

[QUOTE=joshuadim;47488051]Time to liberate the UK from terrorists.[/QUOTE] BREAKING: United States deploys boots on ground to investigate alleged British WMD's

This just in, Argentina claims ownership of Britain, declaring it "called dibs" on the island centuries ago.

george bush just shit himself

We all just made the same joke in slightly different flavours.

[QUOTE=ScottyWired;47488063]BREAKING: United States deploys boots on ground to investigate alleged British WMD's[/QUOTE] BREAKING: British have nuclear armed submarines right under our noses, Obama to liberate Britain.

[QUOTE=Rossy167;47488045]Anyone else here not cool with oil drilling of any kind, certainly not fracking, onshore here in the south of england?[/QUOTE] Let us all know when you come up with a viable alternative we can switch in the next decade.

[QUOTE=Rossy167;47488045]Anyone else here not cool with oil drilling of any kind, certainly not fracking, onshore here in the south of england?[/QUOTE] It's more developed, can be controled better and generally is safer than offshore so I guess no.

Like the UK wasn't rich enough already, fuck's sake.

[quote]Oil has been produced onshore in the South of England for decades. There are currently around a dozen oil production sites across the [B]Weald[/B], a region spanning Kent, Sussex, Surrey and Hampshire.[/quote] Sly

[QUOTE=Mr Anonymous;47488052]Does it cause some sort of problem as apposed to offshore drilling?[/QUOTE] I hadn't realized we already drilled oil onshore here, to me oil drilling had always seemed like something that happens in war town, dictator lead middle eastern countries. Just me being stupid. I guess the real worry is fracking specifically. - ok my articulation was stupid but basically the concept of 'not in my backyard'

[QUOTE=Swineflu;47488108]Like the UK wasn't rich enough already, fuck's sake.[/QUOTE] Queue the UK getting more money Queue EU asking for more money Queue more barking from euroskeptics + more "britain is better than europe" rhetoric

[QUOTE=download;47487998]It's about profitability. No point drilling a well if the well is more expensive than the oil. As the price of oil however goes up more wells become profitable. Ideally your oil field is very large (thus only needing one well to access) and near the surface (thus you don't need to drill far). Off the top of my head and depending on the type of rock, onshore wells are about $1m a km for soft rock to $10m a km for hard rock while offshore wells are $50m to$100m range depending on the water depth.[/QUOTE] Why not just build nuclear reactors.

[QUOTE=SpaceGhost;47488138]Why not just build nuclear reactors.[/QUOTE] My car isn't nuclear powered nor uses nuclear material as lubricant

[QUOTE=SpaceGhost;47488138]Why not just build nuclear reactors.[/QUOTE] It's inefficient to turn heat from a nuclear reactor into liquid fuels for vehicles. It can be done but at the moment the price of oil doesn't make it viable.

[QUOTE=Killuah;47488105]It's more developed, can be controled better and generally is safer than offshore so I guess no.[/QUOTE] Can't we leave some oil in the ground as not to fuck up our atmosphere completely.

Thanks god.

[QUOTE=Kingy_who;47488153]Can't we leave some oil in the ground as not to fuck up our atmosphere completely.[/QUOTE] We already do leave most and oil is not only used for burning so the better question would be "could we stop burning that shit?"

[QUOTE=Swineflu;47488108]Like the UK wasn't rich enough already, fuck's sake.[/QUOTE] Because we definitely aren't in a time of austerity, and having to make cuts to funding.

[QUOTE=Swineflu;47488108]Like the UK wasn't rich enough already, fuck's sake.[/QUOTE] Yeah we're rolling in... a huge national debt and a massive budget deficit.

[QUOTE=SpaceGhost;47488138]Why not just build nuclear reactors.[/QUOTE] Because nuclear reactors don't produce organic feedstocks.

What about all those stories that oil reserves are depleted and stuff and that we are doomed ? Seems like every month now they discover new giant oil reserves somewhere.

[QUOTE=AntonioR;47488234]What about all those stories that oil reserves are depleted and stuff and that we are doomed ? Seems like every month now they discover new giant oil reserves somewhere.[/QUOTE] Easily-accessible oil is certainly near depletion. I imagine that to get most of this, they'd have to dig up farms or cities, or destroy national heritage sites like the New Forest. Pretty much all of the South of England is occupied by something or other.