Just Found 12 Billion Barrels Of Oil On Ill-defined Border

Yes they did. They found a new oil-field. They estimate there might be about 12 billion tons of crude oil there. In the ocean north of Norway. The border there is not well defined with Russia and could cause trouble. This oil-field is right on that border...



I only have a norwegian article...

[edit on 2006/4/28 by Hellmutt]

I wonder what a war between Norway and Russia will look like?

Let's hope, for the Russian's sake, that it is not like it was when they invaded Finland in WWII.

The name "Mannerheim" still reverberates through the Russian military historical annuals...


seekerof

[edit on 17-1-2005 by Seekerof]

Here's a machine translation of the article:

OIL FOR 2500 Billion :
Statoil considers facts lie 12 billion fat oil and gas in Barentshavet. But it is the a problem. The thing is oil lie in it part of Barentshavet do not have absolutely was clarifying borders against Russia. With that able oil be the object of aloud political gambling. Presentasjonsmaterial as Evening post sit on , demonstrate that Statoil considers it is the 12 billion fat oil there. Along with today's oil price talking of assets for 2500 billion crown.

Builds edged in Barentshavet US Geological Survey USGS ) estimates that 25 per cent at world's overall oljeforekomster tied up her in The Arctic , as Barentshavet am a bit at. Today builds Statoil up Snøhvit at Norwegian agedown. There considers company facts lie 10 billion fat oil. Facts new area able consequently be even bigger than Snøhvit. Foreign secretary Jan Petersen am at present at travel in North west - Russia after Monday how Russian builds oljeplattformer for their agedown at Barentshavet. They have done kjempefunn in cell Stockman

Negotiations Yet hasn't Norway and Russia come in aim in negotiations about Barentshavet. They new occurrences able do negotiations continueous awkward. We have long desire to be completed along with delielinjeforhandlingene , as now has aggressive in three decade , but no at what now has arise , shall change our the thinking around this , now , say Foreign secretary Jan Petersen at Evening post.

12 billion is pretty significant.

The United Kingdom only has 4.7 billion barrels ( link )

The United States has about 22 billion barrels ( link )

Russia has been quietly and not so quietly sliding a bunch of good oil finds onto its side of the board and putting them under state control, while America can't even protect the pipelines in the Middle East with the combination of South American hit squads and enlisted Marines. The stink in Ukraine might be oil related, or weapons related. The Ukraine is where the Sunburn and Onyx missles are manufactured, which are key to protecting Russian oil interests overseas. The Americans weren't allowed to buy any, but I'm sure the Ukraine's new, western appointed leader will see fit to level the playing field. The Ukraine is also the site of critical oil transport infrastructure, and it would be a real gem to add back into the Russian State crown. I'm sure Putin is behind the scenes, frantically working out the counter play to that whole poison the candidate, blame the other guy, cry foul in the election, then rig the election play. Brilliant stuff, you couldn't find better intrigue from Tom Clancy or even Shakespeare

Russia meanwhile is doing a big guns for oil deal with Venezuela. They're simultaneously investing in technology to more profitably exploit oil shale, which is very plentiful in the region. They support Iran - very large quantities of oil there. They have a very close relationship to Japan and China, and stand to make a great deal of profit in the Asian market if they can keep their supply large and reliable. Russians and French work oil projects together too I believe, which might mean the EU is in on the game. I do believe the Russians are serious about keeping us out of Iran too. We'll just have to wait and see what happens. It should be an indicator how serious the threat we face really is. If we need oil so bad we're willing to instigate the sleeping bear, something must be going on to provoke that.

They also swiped defacto control of Yukos back from the private owner who was ready to sell it out. They sold back, by the way, ownership of the pumping stations, interior pipleines, and refineries, but not the outgoing pipelines. Ha ha! That's a funny joke. Pump and refine all the oil you want, it's not leaving Russia unless you carry it out on you back. I think the governments of the world, or some of them anyway, know that there is an 'unseasonably' long, hard winter ahead for mankind, and they're trying to prepare in secret so as not to alarm people. Any thoughts on this? It could be an excuse for all you diehard partisans out there to finally, cathartically admit the guilt of your elected officials, while at the same time giving them a moral loophole, "it was for our own good." I know someone's going to want to jump on that. What an offer, absolution by truth. Hah. Like that would ever work.

Don't forget China, who has been on a buying spree of western oil companies (and these are the ones that are being reported). How about them buying up Russian oil companies too ?

It´s too late for me now to change the title (edit-button missing).
It was "barrels" not "tons" of oil. Still, it´s a lot of oil...
The Russians and Norwegians are going to have some serious negotiations about this.

Here we go...

ATS: Troops Invade Norway

"Participating nations :
– Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Romania, Spain, Switzerland, Sweden, United Kingdom and USA"

Hello Russia...

Originally posted by Seekerof
Let's hope, for the Russian's sake, that it is not like it was when they invaded Finland in WWII.

The name "Mannerheim" still reverberates through the Russian military historical annuals...

Indeed. On the Isthmus of Carelia the Russian tanks foolishly advanced but the Finns, instead of jumping the gun, waited for all of the tanks to be on the ice field, then they fired their artillery at the ice, it started to break up and all the Russian tanks simply fell through the ice and sank like stones.

In Jan Sibelius's "Carelia Suite" there is a dramatic part that suggests an advancing army and I've always wondered whether he was trying to depict that battle.

Originally posted by Hellmutt
Here we go...

ATS: Troops Invade Norway

"Participating nations :
– Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Romania, Spain, Switzerland, Sweden, United Kingdom and USA"

Hello Russia...

Yeah that is a bit of coincidence isn't it. It's probably just that a coincidence but then again we are talking about a lot of oil. Rather than fighting they should just split it 50-50 or something... nations don't seem to be too good at sharing though.

Title edited to reflect "Barrels".

So what's your point?

There's 200 billion barrels of oil on the US/Cannadian border. Big deal.

West Texas, never dried up, it was mostly capped off. There is no shortage of crude oil. Period. Argue all you want. Scream it to the heavens fools.

To keep OPEC from playing the oil dumping game like in the 80's, refinery capacity has been kept to a bare minimum. The crude oil is absolutely worthless if it is not refined. Theres a lot of federal red tape involved to mainly discourage the building of new refineries and has been so for at least 20 years, mainly because of that oil glut that killed West Texas back in the early eighties. Do the math and reason it out.

I know old rich oil men who are laughing all the way to the bank. Put it this way, Exxon can not make a profit if there is some sort of crisis, it would be loss or break even. They have a fat supply of oil now, and limited refinery capacity to barely keep pace with demand and force the prices higher, thus they make a huge profit.

Think Enron and California, with plants being taken offline to spike prices.
Same technique going on here.

Originally posted by CAPT PROTON
So what's your point?
There's 200 billion barrels of oil on the US/Cannadian border. Big deal.

200 billion barrels? Are you sure? That sounds like alot...
Quoting from two links provided by AceOfBase earlier in this thread:

United States Country Analysis Brief
According to the Oil and Gas Journal, the United States had 21.9 billion barrels of proved oil reserves as of January 1, 2005

United Kingdom Country Analysis Brief
As of January 2004, the UK’s proven crude oil reserves stood at 4.7 billion barrels, the largest within the EU, according to the Oil and Gas Journal

I would say 12 billion barrels is a quite nice amount of oil. I understand what you say about manipulating prices and I do believe this is happening. BTW, the border between Norway and Russia is not like the border between Canada and USA. But there is most likely more oil out there. We just have to find it. Antarctica? I don´t believe in "peak oil". Not yet. I´m not sure how the negotiations between Norway and Russia is going regarding this oilfield. But Russia and Norway has enough oil already. For now anyway...

Originally posted by Hellmutt
200 billion barrels? Are you sure? That sounds like alot...

Understatement of the day that is...

Anyway a war between Russia and NATO would be interesting since that is what all the armed forces in Europe where training and prepared for throughout the cold war. Things have changed a bit since then, but you can be sure if it got into full swing it would probably be the most destructive war in history. At least the game 'EF2000' wouldn't seem as out of date in scenario anymore

Oil companies swap reserve fields all the time.

The large field I mentioned was traded for a reserve field in the gulf.
You have to keep an eye on those Squawk Box reports, they purposely don't blow up some reports.

That large field only has a handful of rigs on it, so the production is super low for a field its size or even a much smaller field.

The problem is partly from drilling through the hard ground, so its expensive to do a lot of business there. Even drilling in Alaska is expensive because of the frozen rock, so they have to keep the price per barrel high just to do business there too.

Thats why West Texas got killed by the Saudis. It is super hard to drill the hard Permian Basin limestone formation as compared to drilling through sand and sandstone in Saudi Arabia. In the eighties, to make a profit in Midland, Texas, you needed the price of oil to be about $30 a barrel because of the effort involved to get at the oil. But OPEC flooded the market and drove the price down to $10 a barrel. So, naturally they couldn't compete and the place went bust. But just because they went bust didn't mean the oil dried up. It just wasn't economically feasible to get it any more with the way market conditions were.

So there you have it, OPEC has tried to starve the US for oil in the seventies, and when that didn't work, they tried to flood the market and ruin the US oil producers.

The solution, suck the Saudis dry over time with big SUVs and a hot economy and then dump their sorry a$$es when its all gone. Some of their big fields are beginning to sputter. And the moment they have to inject water into their wells to maintain production, they'll ruin whatever is left in that particular field and then not be able to get it out. The rest of OPEC will have a hard time meeting production without them, and then will be over run by more organized, better equipped foreign outfits and the US.

Mexico's duplicitous behind will be dealt with next. Big US oil hasn't forgotten about the PEMEX debacle.

Mr. Fox sure has some nerve dictating any policy after that fiasco. Bush needs to be very mindful of the get an inch, go a mile philosophy of the Mexican government. They already act as though they can boss the border states around as if they are their own.

Capt Proton ... Thanks for bringing some lucidity to the oil issues. I don't believe we are anywhere near peak oil yet. I'm not even totally sure, from some reading I've done, that oil isn't a renewable resource.

Plus West Texas fields have regenerated, some wells are producing more than they have in 20 years.

Peak oil is #e!

BTW, In Illinois, oil wells would be shut off when oil dropped below $18 a barrel in the 80's.....some at $21.

Originally posted by CAPT PROTONThats why West Texas got killed by the Saudis. It is super hard to drill the hard Permian Basin limestone formation as compared to drilling through sand and sandstone in Saudi Arabia. In the eighties, to make a profit in Midland, Texas, you needed the price of oil to be about $30 a barrel because of the effort involved to get at the oil. But OPEC flooded the market and drove the price down to $10 a barrel. So, naturally they couldn't compete and the place went bust. But just because they went bust didn't mean the oil dried up. It just wasn't economically feasible to get it any more with the way market conditions were.

So the US drillers went offshore into the Gulf of Mexico because drilling through an ocean and a seabed in the playground of hurricanes was easier? This argument doesn't hold any water. You make no mention of US oil production peak, reserves, or depletion rate. At one time it was so easy to get Texas oil out of the ground that oil was cheaper than water. That cheap easy oil was burned up long ago. US drillers didn't move into Alaska and the Gulf of Mexico because the ground in Texas was too hard. They moved because most of the oil is gone.

So there you have it, OPEC has tried to starve the US for oil in the seventies, and when that didn't work, they tried to flood the market and ruin the US oil producers.

During the Cold War in the 80s, the then-USSR earned most of its foreign currency through oil exports. After it invaded Afghanistan, the US and Saudi Arabia worked together to defeat the Soviets militarily in Afghanistan and push their economy into ruin with artificially low petroleum.

The US was the guarantor of security of Saudi Arabia and the other Gulf states against the USSR and its client states of Syria and Iraq (and Egypt, earlier), as well as post-Revolutionary Iran.

To imagine that Saudi Arabia was trying to hurt the US oil companies is a whimsical argument, at best.

The solution, suck the Saudis dry over time with big SUVs and a hot economy and then dump their sorry a$$es when its all gone.

I'm sorry, but this is patently absurd. You are claiming, with no evidence and no sources, that there was a US government conspiracy worked in concert with US automakers to market and sell vast fleets of energy inefficient vehicles for the sole purpose of wasting Saudi Arabian oil? Such a singularly um, "unique" idea really weakens your entire argument.

Some of their big fields are beginning to sputter. And the moment they have to inject water into their wells to maintain production, they'll ruin whatever is left in that particular field and then not be able to get it out. The rest of OPEC will have a hard time meeting production without them, and then will be over run by more organized, better equipped foreign outfits and the US.

This is the only paragraph that gets close to the reality of the situation as understood by most of us who have taken the time to closely study the peak oil situation. But I don't know where you imagine these "better-equipped foreign outfits" are going to get their oil from. Barring some miraculous discovery in Antarctica or somewhere, the vast majority of world oil reserves are in, and have always been in, and always will be in the Middle East:

12 Billion Barrells of oil will only last the world about 6 months since we currently consume over 80 million barrels a day worldwide

www.montanaoil.com...

Originally posted by djohnsto77
I wonder what a war between Norway and Russia will look like?

Cold?

Didn't they already do that back in the early soviet days? One of those Scand countries right??