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

[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] Read 'future babble' by Dan Gardner. He devotes a whole section of his book to peak oil and it's proponents.

snip

Okay Scotland fuck off we don't need you anymore [editline]9th April 2015[/editline] We should totally get rid of their free tuition and all of the other benefits they get above the rest of the UK because they're not a special snowflake anymore.

Well, 100 billion seems a bit unlikely - the biggest and most well appointed field in Europe is the Clair field at 8 Billion - and land oil tends to be very shallow and not dense, so 100 billion barrels worth seems... unlikely at best. [quote=article]Compared with similar geology in the US and West Siberia, it estimates that 3% to 15% of the oil could be recovered. [/quote] Ah, there we go. 3 Billion to 15 Billion barrels if everything goes absolutely swimmingly, that seems far more likely, probably spread out over a pretty long time as the dispersal of on-shore oil means that production won't have a great rate.

[QUOTE=mdeceiver79;47488134]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] Man you guys sure love to queue :v:

[QUOTE=download;47488072]BREAKING: British have nuclear armed submarines right under our noses, Obama to liberate Britain.[/QUOTE] Nuclear missile submarines armed with American made trident missiles :v:

[FREEDOM INTENSIFIES]

[QUOTE=joshuadim;47488051]Time to liberate the UK from terrorists.[/QUOTE] I can feel the liberation coming already.

[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] If you want nuclear reactors to be built, you need oil. It's a tradeoff worth working with.

-snip-

[QUOTE=JoeSkylynx;47488720]If you want nuclear reactors to be built, you need oil. It's a tradeoff worth working with.[/QUOTE] Not a great arguement. You can get oil without drilling domestically. It might cause pollution, cause the drilling company to lobby for fracking. I doubt it will make oil any cheaper to the consumer. I also think keeping reliance on oil for longer will stop a decrease in demand and might help drive up prices in the long term.

[QUOTE=Thomo_UK;47488552]Nuclear missile submarines armed with American made trident missiles :v:[/QUOTE] That feel when you realise that Britain was the world's only nation to successfully develop and then abandon a satellite launch capability. No, really, the only thing stopping us from developing our own slbm was "muh monies"

Well, we're trying to get a spaceport setup, and I'm pretty sure we've been pumping funding into the Skylon spaceplane.

[QUOTE=ScottyWired;47488063]BREAKING: United States deploys boots on ground to investigate alleged British WMD's[/QUOTE] This just in: CIA secretly bought WMDs away from the British

[QUOTE=kweh;47488542]Man you guys sure love to queue :v:[/QUOTE] Holy shit does the rest of the world know about us and queing?

[QUOTE=Cypher_09;47489212]Holy shit does the rest of the world know about us and queing?[/QUOTE] Yes the world knows of our almost erotic love of forming lines.

Sometimes i let people go infront of me so i can queue for longer

Admittedly, you Brits don't have much else better to do. [IMG]http://img.thesun.co.uk/aidemitlum/archive/01454/SNN1612AA--5321_1454356a.jpg[/IMG]

I really think oil exploration companies should not be allowed to be so sensational, it says right there only 5-10% is recoverable, thats off of probably an optimistic estimation already. Like these kinds of headlines are why China and Japan are fighting over tiny little islands because there could be between 1 and 1000 billion barrels of oil under them, will it even be able to be extracted, fuck no but this kind of speculation is going to start wars in asia [editline]9th April 2015[/editline] [QUOTE=Mallow234;47489139]That feel when you realise that Britain was the world's only nation to successfully develop and then abandon a satellite launch capability. No, really, the only thing stopping us from developing our own slbm was "muh monies"[/QUOTE] Well a bit more than that, the British space program was 20 years behind the US when they launched in the mid 70s, it was either be unable to field nuclear ICBMs for 25 years or buy american missiles, the SLBM took a long time and was expensive both monitarily and in resources to developed so it did make perfect sense, as for abandoning their space program They were already in a European quasi-space program that was developing the rocket launchers as well as satellite probes, so in a sense they were funding 1 and 1/2 space programs which made no sense, also the ESA combined the earlier more secretive programs into one bigger public program but was supposed to be ready by 1972 but I think got delayed till 1975

I thought they actually misplaced 100 billions worth of barrels, uh. This is good, with competition against the North Sea and hopefully less dependence on Russia.

[QUOTE=download;47488147]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] Electric cars. We just gotta make some sweet breakthroughs in battery technology first. HOWEVER, IF we were to completely phase out fossil fuels in electricity production and left it only to motor vehicles/aircraft/science/plastic production we would cut a MASSIVE amount of CO2 emissions from our footprint so it would be a pretty sizable start really.

[QUOTE=kweh;47488542]Man you guys sure love to queue :v:[/QUOTE] yeah, these wait times are ridiculous. as for the oil i guess it's a good thing they found more at this point i wonder what life would be like without oil (probably shit)

[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] As a northerner, I'm fine with it.

The sad thing is that it probibly won't make the UK oil price go down any more... just the money saved will go straight into corporation's pockets.

[QUOTE=nuttyboffin;47490106]The sad thing is that it probibly won't make the UK oil price go down any more... just the money saved will go straight into corporation's pockets.[/QUOTE] Normally in economics if we discover more of a resource, the prices still decline. The ambiguously defined "corporation" will still be making more money than before, even if prices are lower, due to increased production. Also this is oil which is difficult to recover anyways, so I doubt it will be exploited for a long while yet.

[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] Really, oil drilling isn't that big of a deal. Source: Live in Tulsa, Oklahoma. [editline]a[/editline] Fracking fuck no but regular drills aren't that bad.

[QUOTE=download;47487980]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.[/QUOTE] I know this sounds a little conspiracy-theory-ish, but there's an old friend of the family that we know who does work out on various oil & gas rigs around Australia, who was telling us a few years back how they've actually been going around the south/south-western coast of Australia doing exploratory drilling for years, and have been finding huge deposits of oil and gas and just capping them off for now and not making it public. It kind of makes sense I guess. If you can hold on to a massive stockpile of oil and gas, then when existing known supplies start to run out you can basically tap into your capped wells and trickle feed your huge supply into the market at ridiculous high costs and make a fortune, and simply claim it was recently discovered. Some very interesting discussions out there about it...

[QUOTE=download;47487980]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.[/QUOTE] Prolly not, petrol is so expensive due to the taxes on it.

[QUOTE=nuttyboffin;47490106]The sad thing is that it probibly won't make the UK oil price go down any more... just the money saved will go straight into corporation's pockets.[/QUOTE] That rhetoric doesn't apply to commodities like oil which are homogenous. Perhaps you forgot that worldwide oil prices have dropped by around half in only the past few months. The market sets the price, not the sellers. [editline]10th April 2015[/editline] [QUOTE=Sableye;47489278]I really think oil exploration companies should not be allowed to be so sensational, it says right there only 5-10% is recoverable, thats off of probably an optimistic estimation already. Like these kinds of headlines are why China and Japan are fighting over tiny little islands because there could be between 1 and 1000 billion barrels of oil under them, will it even be able to be extracted, fuck no but this kind of speculation is going to start wars in asia[/QUOTE] It's not being sensationalist. It's them saying an operation can only be profitable up until a certain fraction of the oil is collected. Partly due to present and forecasted variables, partly due to diminishing returns.

[QUOTE=Sobek-;47492886]I know this sounds a little conspiracy-theory-ish, but there's an old friend of the family that we know who does work out on various oil & gas rigs around Australia, who was telling us a few years back how they've actually been going around the south/south-western coast of Australia doing exploratory drilling for years, and have been finding huge deposits of oil and gas and just capping them off for now and not making it public. It kind of makes sense I guess. If you can hold on to a massive stockpile of oil and gas, then when existing known supplies start to run out you can basically tap into your capped wells and trickle feed your huge supply into the market at ridiculous high costs and make a fortune, and simply claim it was recently discovered. Some very interesting discussions out there about it...[/QUOTE] It would be difficult to do under the radar. The costs and equipment involved are hard to find. Not to mention publicly traded companies have to tell their shareholders if they find something.