Hey Robbie, next time don't argue from ignorance
 

Not that anyone gives a fuck, as the argument was ages ago and long forgotten, but here is the result of the oil drill you fucking INSISTED was a find, and "it's not 1910 anymore and we can see the oil before drilling" and we were all idiots for denying it even though I laid out all the facts and have actual experience investing in the sector and explained the facts of oil drilling:

Shell Halts Alaska Offshore Exploration After Failing to Find Enough Oil - Bloomberg Business

Basically, it's a dry well and your "billions of barrels of oil" didn't exist so they're not going to bother doing any more exploring. They're blaming regulations but if the oil was there they'd drill the crap out of it.

I wouldn't normally bother but the news just came out and jogged my memory of your ridiculous stance and it's just rare to have two people argue something with both people saying "you don't know shit" and then have a definitive result that proves one side right and shows the other side they were full of shit :)

tldr neener neener.

For all the people against oil production, back up your lip service with actions. Stop driving or riding in all motor vehicles. Stop purchasing food or products made from, grown or transported with oil products. Stop using electricity, natural gas or water from any city system or pumped via and electric or gas powered motor. Stop taking buses, aircraft, trains or vessels since they run on oil products. Stop using telephones, computers, ipads, etc since they contain petro products and require electricity to function. In other words, live under a rock and eat insects.

LOL you throw the word ignorant around. but you believe what you read in the press. maybe if you checked the price of oil compared to what it was last year, then consider the cost of drilling up there, maybe you would sound less ignorant yourself.

your basically telling us you have no clue that the oil market crashed & shalers/expensive oil wells are going out etc. clueless.

:2 cents:

Not sure I was clear enough. I'm a speculative oil investor. As in, I only invest in oil exploration. I've actually spent over $100k of my own money building oil exploration investment software and am a qualified financial adviser.

So yeah.. Not arguing against drilling here lol.. Just letting the reality hammer bang a fact into someone's head, even if they don't give a flying fuck. It's my way, I'm an educator and enjoy being right on the internet even when no one else gives a shit :)

Another person who doesn't know anything about oil exploration. The price of oil is fine for large offshore deposits like what they were targeting at Burger. The amounts involved and the timeline to production render current prices largely irrelevant. They wouldn't have been producing oil at Burger for many years even if they found some last week, so month to month prices wouldn't really affect things in a multi-billion dollar long term investment that would probably only start producing after the best shale areas have peaked and prices are very likely to be higher.

The current low price of oil is mostly hurting shale producers and small cap explorers in terms of getting more exploration drilling happening. If they found oil they would have continued to drill and prove the area up. The plain fact, which somehow you are amazingly ignoring.. is that they didn't find movable hydrocarbons. They didn't find oil. Not that it's expensive or this or that.. they just didn't find oil.. which is the single and only point. Regulation and expense are issues.. But you need the oil first lol.

Anyways.. another Dunning-Kruger guy who doesn't know the first thing about what they're talking about but feels it's perfectly fine to open their yap about it.

It must really blow your noodle that companies are still out there exploring at the current oil price....

People in this forum don't let facts or knowledge get in the way of expressing their opinions. Most are very successful and wealthy porn webmasters that have a lot of time on their hands so they are on GFY 24/7 for lack of anything else to do.

funny how smart about oil you are, but your so fucking poor & bored you are posting about it on GFY.

it was one well. as you know, cause your so smart, they normally set up numerous wells in an area to find the oil, not 1. but its offshore artic, so its too expensive to do that. when you cant set up numerous drills, the odds are low you will hit paydirt.

When the price of oil supports more drilling tests, they will happen. & with more wells, at oil prices where its viable, they will hit the jackpot. so yes, current market conditions are relevent to decisions about drilling that well. had the price of a barrel been 200 dollars, suddenly what little oil they found is worth pulling. DUH...

you think you know what your talking about, but really you dont.

:1orglaugh

I just don't really get it. I mean I get it in a political context where things are a little more "opiniony" or two sides have their own take on the "facts" but I don't know why people wade into more technical areas and argue til they're blue in the face whilst being demonstrably wrong.
Don't get me wrong, I love me some arguing on the internet and get just as political or discuss things in less black and white areas as anyone else.. But I found a long time ago that the secret to winning arguments is to mostly STFU if you don't know what you're talking about and pick your battles on your home turf.

I'm sure I have my own subconscious biases and have probably done similar things without knowing it if there isn't heavy opposition to tell me otherwise.. But I wouldn't argue with someone about something I don't actually know a lot about if they really seemed to have a handle on it and knew the jargon any more I'd argue string theory with a pure mathematics PHD student.

It's basically this:
http://www.ritholtz.com/blog/wp-cont.../mt-stupid.png

Anyways.. I didn't want to start a big thing.. I just wanted to do a quick "Ha, I was right" to Robbie even though there is almost no way he remembers talking shit about it because it's not really something he's particularly interested in or across in comparison and because being right on the internet is more important than anything else :winkwink:
I just heard the news and this is basically the only place I've ever talked about that particular drill, and I talk about oil exploration all the time, so I remembered. *shrugs* I know neither he, nor 99.99% of everyone else cares. I also don't give a fuck that they don't :)

yes, he has a big habit of this, and then likes blocking you and writing profanities on your wall cause you dared called him ignorant about something. old people.

Refer to the graph I posted above. They found bad hydrocarbon indications numbnuts. Seriously don't pretend to know what's going on. A basic understanding of supply and demand from econ 101 isn't going to pass here.
They didn't find ANY movable oil. They didn't find a "little oil". There isn't anything to "pull". They probably found residual oil (it's migrated out of the trap) or bituminous (old and ultra heavy) shows, or weak mud gas readings. You can drill almost anywhere in a known basin and get hydrocarbon indications.
Please use your brain for a minute.. This is multi-billion dollar exploration and they didn't even run a DST? This is why you don't argue when you don't know shit. Because you don't know enough to know what you don't know.

Ok so I've proven you wrong, in that you don't know there wasn't a "little oil" and they're just talking about traces on a gas chromatograph or something that wasn't even worth evaluating.. Will you still keep arguing like you have a leg to stand on?

A company will often sink multiple wells but often a single strategic well can rule out multiple prospects. It all depends on the geology, migration pathways, homogeneity of the trend etc.

I'll admit with $200 oil they'll be back up there (in a different area) but there are whole other reasons for that, like necessity rather than or as well as pure economic incentive. That's a whole separate argument to Robbie's. You complained I believed what I read in the paper but you just took the company's word at face value. All companies will try and put a positive spin on a bad outcome or blame other factors.
If the drill was in any way positive they would have continued. Actually, they would have announced a find of some description and talked it up even if it was shit, talked about low oil prices and how they would use the current situation to renegotiate contracts for lower rig rates and basically just put the whole thing on slow burn for a couple of years. The fact they couldn't even save any face at all and just junked the whole area says a lot about how bad the results were and what they said about the area.

The thing is, we're all ignorant. I'm ignorant of 99% of all human knowledge. I haven't read Derrida... I don't know how to set up a saline drip.. I couldn't fix a gas pipe. I'm happy to admit I'm ignorant about most things. I don't think it's the insult people think it is. But then again I don't argue about the best way to fix a gas pipe.

Anyways.. again.. This was supposed to be a quick jab after hearing the news and I'm talking like I love the sound of my own voice so it's time for me to fuck off.. Good weekends all.

I thought "dry wells" are pretty common, so one "dry well" doesn't prove anything...

this situation is not unlike the adult industry now... just replace "oil exploration" with "launching new sites"...

with low oil prices it makes little sense to explore for oil, just like with the state of the industry it makes little sense to launch new sites...

we definitely are. it's just the 10 year old mentality that seems to come out when faced with that ignorance is simply stupid.

... and official statement is far from "there is no oil here":

"The company continues to see potential in the region and the decision not to explore further in Alaskan waters “reflects both the Burger J well result, the high costs associated with the project, and the challenging and unpredictable federal regulatory environment in offshore Alaska,” according to the statement."

damn those new 'unpredictable rules':

'The proposed regulations codify requirements that all Arctic offshore operators and their contractors are appropriately prepared for Arctic conditions and that operators have developed an integrated operations plan that details all phases of the exploration program for purposes of advance planning and risk assessment'

being appropriately prepared and with plans? thanks obama

that's a carefully prepared PR statement, but reality is that many in both government and the general public are against drilling there... making it unpredictable...

imagine that there are talks of banning gang bang porn, would you pursue launching a gang bang porn site? only a fool would.... the situation in Alaska is kinda like that...

ahh, this is porn we're talking about. maybe you want to rethink that analogy?

anyway, the safety equipment they built for these wells failed in 2012 in bellingham. that's a far cry from north alaska, but it's been a few years. so obviously they HAD a plan, even if it didn't actually work in basically perfect conditions.

and now that the arctic is melting further, we can actually deal with companies that will follow the rules, actually has plans, and are able to build shit that works

what I know of large corporations is that they are very very conservative... no large corporation would invest in an area with volatile and unpredictable regulations

I like your subtle self-depracating style that seems to have been largely unnoticed in this thread (that's an assumption not fact everybody, before any side-arguments start up) - I doff my cap to you :thumbsup

i'm gonna need to see the original thread so i can sort this out

at the same time, a dud well doesn't mean there isn't billions of barrels of oil there.
according to the article, there were 3 reasons they stopped exploring- this well, the cost of exploration v oil prices, and the monster risk involved combined with the ridiculous regulatory climate of drilling there.

yes, but they have been investing in the area.. i think the regulation point is just silly politics, and it comes down to oil prices

Heh-heh...don't blame you for wanting to do that. I'm the same way. :)

you proved me wrong? LOL. then why u trying so hard to defend your assertion that price has nothing to do with closing the well. U know you stepped in the doodoo on that one, you know that 1 well does not conclude that the region has no oil, & you pointed out there are other companies still working the area. so obviously that well being bad does not make you right, you asserted robbie is wrong, that there would be no bonanza. there can still be a bonanza.

from post #1 you have been the ignorant one.

:)

Fuck that.

I am totally against any new oil production of any source.

However I also realize that the powers that be will NOT give any serious look at any type of alternative to oil until they have pumped and burned every last drop of petroleum available.

So, I do my part by burning as much of it as I can as quickly as I can. :thumbsup

.

Yep, cuckold Robbie does it every time he gets cornered. For some strange reason he equates successful pimping to everything else in life. Big mistake.

rabble rabble rabble

everything is politics :2 cents: