Airline CEO letter RE:Oil Futures

[LazersGoPEWPEW]

Ah yes ... pre-deregulation days ... when men were gentlemen and ladies were .... ladies.

And when the two would show up for a flight in coat/tie and a dress, respectively ...

Civilization.

Heck yea man. When I was a kid traveling on the airlines as a non-rev I'd always be in some slacks a tie and a sweater or jacket. I remember when people dressed up somewhat. Not so much a suit and tie but they didn't look like the trash they do now. Like some of these broads that wear a sweat suit on the airplane.

Air travel these days makes me feel like I'm on a flying bus instead of an airplane. It's really gone downhill. I'm just glad that some airlines are still hiring.

 

[WIDGET]

Heck yea man. When I was a kid traveling on the airlines as a non-rev I'd always be in some slacks a tie and a sweater or jacket. I remember when people dressed up somewhat. Not so much a suit and tie but they didn't look like the trash they do now. Like some of these broads that wear a sweat suit on the airplane.

Air travel these days makes me feel like I'm on a flying bus instead of an airplane. It's really gone downhill. I'm just glad that some airlines are still hiring.

yeah. non-rev "uniform" now includes flipflops, short skirts, and tanks. my mom works for delta in cincinnati and said she was able to see a non-rev's thong because her skirt was so SHORT. she could see it from the bottom. (please refrain from any "that's hot" comments.)

 

[snake020]

I just got this same letter from United. I'd rather send them a letter to quit manipulating when I can't use my airline miles.

 

[Bevo16]

If anyone thinks that there is some kind of solution to the energy crisis other than increasing the supply of energy (increased drilling, nuke plants, clean coal, etc) they are kidding themselves. Oil is sold on the world market, so any gallon of gas conserved in the US will gladly be burned by a taxi driver in Beijing.

Right now, demand is running about 2% higher than supply. At that rate, it takes a 20% price increase to "buy" that percentage of demand back from the world market.

No nation has more energy resources than the United States. We have more oil, coal, and uranium than any other country in the world. Congress will not allow us to drill for it, build the facilities to refine it, or build nuke plants. Our congress has been asleep at the wheel regarding energy for the past 25 years. It is going to take a big slap in the face to wake them up. Half of them are still chasing the "go green" pipe dreams. If that crap could work, then someone would figure out a way to make the solutions cost effective and they would not require taxpayer subsidy.

We need oil and we need it now. There simply is no other solution.

 

[Flash]

No nation has more energy resources than the United States. We have more oil, coal, and uranium than any other country in the world. Congress will not allow us to drill for it, build the facilities to refine it, or build nuke plants.

We need oil and we need it now. There simply is no other solution.

We definitely have more coal than anyone else, not sure about uranium, but we do not have more proven oil reserves than anyone else, that would be Saudi Arabia, which has at least 10 times more than we do.

If you are including the oil shale deposits we have, they are not easy to extract oil from and it is uncertain if it economically viable even now (just estimates for now). And technically, they are not even considered 'proven' oil reserves, even by the oil industry.

 

[Bevo16]

We definitely have more coal than anyone else, not sure about uranium, but we do not have more proven oil reserves than anyone else, that would be Saudi Arabia, which has at least 10 times more than we do.

What you are getting into is a definition argument. I don't know if you just don't know the definitions, or are ignoring them in the hope that everyone else does not know them. Let me help you out a little.

Most people think that a "proven oil reserve" is oil that we know is there. That is not the case. In order for a puddle of oil under the ground to qualify as a "proven oil reserve" it must currently have a pipe stuck into it and oil must be being sucked through that pipe. It is this "proven oil reserve of 3%" that the democrats jump up and down on when giving their line of "we can't drill our way out of this problem".

The truth of the matter is that if we just opened the valves on all of the existing oil wells that we have already drilled, our "proven reserves" would double overnight. The reason that we can't do that is because the Carter administration put many of the wells off limits and had them plugged and shut it.

Less than 10% of the oil in US territory is currently tapped. There is enough oil in Alaska, the Dakotas, the Rockies, the Gulf of Mexico, and the California coast to meet US demands for more than 60 years while totally eliminating imports.

The "oil shortage" is of our own creation. It simply does not exist.

 

[snake020]

Less than 10% of the oil in US territory is currently tapped. There is enough oil in Alaska, the Dakotas, the Rockies, the Gulf of Mexico, and the California coast to meet US demands for more than 60 years while totally eliminating imports.

Immediately thought of this:

Congressman, we want to drill for oil in Teddy Roosevelt's head

Teddy who?

 

[Flash]

What you are getting into is a definition argument.

Most people think that a "proven oil reserve" is oil that we know is there. That is not the case. In order for a puddle of oil under the ground to qualify as a "proven oil reserve" it must currently have a pipe stuck into it and oil must be being sucked through that pipe.

The truth of the matter is that if we just opened the valves on all of the existing oil wells that we have already drilled, our "proven reserves" would double overnight.

Less than 10% of the oil in US territory is currently tapped. There is enough oil in Alaska, the Dakotas, the Rockies, the Gulf of Mexico, and the California coast to meet US demands for more than 60 years while totally eliminating imports.

The "oil shortage" is of our own creation. It simply does not exist.

You are wrong, very wrong on so many counts, here is the correct definition (underlined part added):

"Proved energy reserves: Estimated quantities of energy sources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. The location, quantity, and grade of the energy source are usually considered to be well established in such reserves."

Source, the United States Energy Information Administration:

http://www.eia.doe.gov/glossary/glossary_p.htm

And:

http://moneyterms.co.uk/proven-oil-reserves/

Here are the 'proved oil reserves' for the US (United States Gelogical Survey data) and select countries (various sources):

United States: 21 billion barrels

http://tonto.eia.doe.gov/dnav/pet/pet_crd_pres_dcu_NUS_a.htm

Venezuela: 80 billion barrels
Saudi Arabia: 262 billion barrels
Kuwait: 101 billion barrels
Iran: 136 billion barrels
Iraq: 115 billion barrels

With several sources listed for each: http://www.eia.doe.gov/emeu/international/reserves.html

So unless there is some giant pool of oil somewhere that we just haven't discovered yet, we don't have much in the way of oil reserves compared to others.

P.S. ANWR gves us only between 5.7 to 16 billion barrels of oil, not too much in the big scheme of things. With US petroleum consumption at about 7.5 billion barrels a year, that won't last us too long.

http://www.eia.doe.gov/oiaf/servicerpt/anwr/background.html

http://www.eia.doe.gov/basics/quickoil.html

 

[Bevo16]

You are wrong, very wrong on so many counts, here is the correct definition (underlined part added):

"Proved energy reserves: Estimated quantities of energy sources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. The location, quantity, and grade of the energy source are usually considered to be well established in such reserves."

Source, the United States Energy Information Administration:

Nice job with the google. You managed to come up with the exact definition that I typed earlier with bigger words. I guess that the extra letters tripped you up, or maybe it is your lack of knowledge about the oil and gas industry. I don't know what it is, but you are totally out of your element here. I'll use your definition, though just to be fair.

Let's focus on what this little part means:

recoverable under existing economic and operating conditions

So....if there is an "operating condition" that makes oil from that particular site unrecoverable, it is not counted as a "proven energy reserve". One such condition would be the cement plugs that are in hundreds of wells in the Gulf Of Mexico due to government restrictions. That pesky "operating condition" tends to get in the way of getting oil to market. Another "operating condition" is the lack of an production platform, pumping unit, or other such "well" going into the vast oil resources that we have.

Flash, I know that you are liberal and are never going to come around on this, so I am not going to waste a lot of time on you. I wish that you would take some time to educate yourself on the subject before coming around and telling what they don't know.

 

[FrankTheTank]

Definately not a liberals view- Makes sense to me.. Like Newt or not the dude is smart!

Sorry, if it is a repost but it still pertains to this thread, in my opinion...

 

[Flash]

Nice job with the google. You managed to come up with the exact definition that I typed earlier with bigger words. I guess that the extra letters tripped you up, or maybe it is your lack of knowledge about the oil and gas industry.

Um, no I didn't.

In order for a puddle of oil under the ground to qualify as a "proven oil reserve" it must currently have a pipe stuck into it and oil must be being sucked through that pipe.

How does that equal this?

recoverable under existing economic and operating conditions

Flash, I know that you are liberal and are never going to come around on this, so I am not going to waste a lot of time on you.

Really? How do you know that? If you post baseless assertions, I don't think you are going to win over anyone. Show me the oil.

I wish that you would take some time to educate yourself on the subject before coming around and telling what they don't know.

I guess going to the EIA's website was useless then, I guess I should just listen to your claims. Why research anything anymore? I have Bevo as a source!

The truth of the matter is that if we just opened the valves on all of the existing oil wells that we have already drilled, our "proven reserves" would double overnight.......One such condition would be the cement plugs that are in hundreds of wells in the Gulf Of Mexico due to government restrictions......Another "operating condition" is the lack of an production platform, pumping unit, or other such "well" going into the vast oil resources that we have.

Prove it! Show me some legitmate facts to back up your assertions. Mine came from a legitimate source, where are yours?

 

[Brett327]

Words...

Well, I'm not a liberal, and thus far, you're just talking out your ass. You also might try being less of a dick if you're interested in bolstering your credibility. I don't pretend to know what the real answer is to this issue, but thus far, all you've got is an assertion.

Brett

 

[Bevo16]

Well, I'm not a liberal, and thus far, you're just talking out your ass. You also might try being less of a dick if you're interested in bolstering your credibility. I don't pretend to know what the real answer is to this issue, but thus far, all you've got is an assertion.

Brett

All, I have is an assertion? Well, that's a hell of a lot better than a bunch of posting a bunch of links and not even having the basic ability to understand the definitions that he posts.

Flash is the one talking out of his ass, and he does not even understand the basic vocabulary on the subject.

I don't particularly give a rats ass about what you think of my credibility on the subject, but I did grow up in the oil field. My father is the best horizontal drilling consulting PE in Texas, and he has the paychecks to prove it. My first jobs were in the oil field, and it has been my family business since the 30's. My credibility on the subject, along with my Exxon/Mobile, Texaco Stock, and family's oil and gas royalties will keep me from giving a damn what the pump says for a long time.

I am not going to wast my time doing Flash's research for him. The information is free, all he has to do is step down from his liberal talking points for long enough to find the answers. He has shown his abilities with google. Some key words like "United States" "Oil" and "Trillion" will go a long way for him.

 

[OUSOONER]

All, I have is an assertion? Well, that's a hell of a lot better than a bunch of posting a bunch of links and not even having the basic ability to understand the definitions that he posts.

Flash is the one talking out of his ass, and he does not even understand the basic vocabulary on the subject.

I don't particularly give a rats ass about what you think of my credibility on the subject, but I did grow up in the oil field. My father is the best horizontal drilling consulting PE in Texas, and he has the paychecks to prove it. My first jobs were in the oil field, and it has been my family business since the 30's. My credibility on the subject, along with my Exxon/Mobile, Texaco Stock, and family's oil and gas royalties will keep me from giving a damn what the pump says for a long time.

I am not going to wast my time doing Flash's research for him. The information is free, all he has to do is step down from his liberal talking points for long enough to find the answers. He has shown his abilities with google. Some key words like "United States" "Oil" and "Trillion" will go a long way for him.

Texans...so aggressive online.....

 

[FormerRecruitingGuru]

Texans...so aggressive online.....

We like our presence to be known

Hook 'em