Darkman Posted June 5, 2010 Share Posted June 5, 2010 Oil discovery in Falklands hailed as biggest of its kind since North Sea oilAn oil field discovery in the Falklands was hailed yesterday as potentially the biggest discovery of its kind since North Sea Oil. Shares in Rockhopper exploration soared 52 per cent yesterday as the company said it expected to pump out at least 242 million barrels of oil from the 'Sea Lion' well - the expedition's first major oil find. And some predicted there could be millions more barrels of oil lying untapped in the area - sparking hopes that the region could hold as much oil as the North Sea. http://www.dailymail.co.uk/news/worldnews/article-1284171/Oil-discovery-Falklands-hailed-biggest-kind-North-Sea-Oil.html Apparently Argentina relinquished any rights to a share of the oil in 2007. They will not be happy. Quote Link to comment Share on other sites More sharing options...
domo Posted June 5, 2010 Share Posted June 5, 2010 Oh great, just what we need! Quote Link to comment Share on other sites More sharing options...
Patfig Posted June 5, 2010 Share Posted June 5, 2010 Well oil be Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 Being in the industry I know that it will see the majors cutting back up here in the North East big time. But we are talking a decade or two to put the infrastructure in place to safely and cheaply haul crude oil and gas back to the UK for consumption. A lot can happen between now and then, such as the Americans stake a new claim and take over the fields. We in the UK don't have the money for massive new investment in subsea and large scale extraction. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 5, 2010 Share Posted June 5, 2010 Should keep the gas guzzlers and 4x4's going a few more weeks. No need to walk to the shops for fags and a paper after all! Phew! Quote Link to comment Share on other sites More sharing options...
yellerkat Posted June 5, 2010 Share Posted June 5, 2010 Should keep the gas guzzlers and 4x4's going a few more weeks. No need to walk to the shops for fags and a paper after all! Phew! 242 million bbl is 3 days global consumption. I wonder what the EROEI on the field will be? Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted June 5, 2010 Share Posted June 5, 2010 A lot can happen between now and then, such as the Americans stake a new claim and take over the fields. We in the UK don't have the money for massive new investment in subsea and large scale extraction. I think the Argentinians would have more of an issue, the Americans won't start a nuclear war. The oil is just in the ground, you can borrow against it Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted June 5, 2010 Share Posted June 5, 2010 The oil is just in the ground, you can borrow against it Think we've done that bit already Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 I think the Argentinians would have more of an issue, the Americans won't start a nuclear war. The oil is just in the ground, you can borrow against it The Argentinians will do as they are told, by the US State Department. Britain is a 3rd rate military power, with ageing Nukes, which are reliant on US military satellites, and a whole lot more American intervention as well. Don't get it into your head that we are on par with any major military power around the globe. The Monroe Doctrine is every bit as relevant today as it was in 18 something something. USSOUTHCOM is part of the enduring legacy of this. Quote Link to comment Share on other sites More sharing options...
Cogs Posted June 5, 2010 Share Posted June 5, 2010 (edited) The Argentinians will do as they are told, by the US State Department. Britain is a 3rd rate military power, with ageing Nukes, which are reliant on US military satellites, and a whole lot more American intervention as well. Don't get it into your head that we are on par with any major military power around the globe. The Monroe Doctrine is every bit as relevant today as it was in 18 something something. USSOUTHCOM is part of the enduring legacy of this. Sorry but no, you are exaggerating. I know its the mood of the times but by any objective standard we are a major power for a nation state that isn't a super-power. We used to be the pre-eminent superpower so this is a colossal fall from grace but "3rd rate" is ridiculous, our ability to project force is significant. Don't misinterpret this as jingoism or complacency but your post is the sort of thing that only a Briton (or an American in a boasting mood) could write, start subscribing to Jane's if you don't believe me. Edited June 5, 2010 by Cogs Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted June 5, 2010 Share Posted June 5, 2010 Britain is a 3rd rate military power, with ageing Nukes, which are reliant on US military satellites I believe the dependence is in the supply chain. They can still strike targets without the satellites. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted June 5, 2010 Share Posted June 5, 2010 The other thing to consider is that Falklands War I was just a naked land-grab by some deeply unpleasant generals. This time round - rightly or wrongly - the entire continent of S America sees it as a naked grab of continental resources. There won't be any quiet backing of the UK. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 They can still strike targets without the satellites. Ok, hypothetically speaking, as this nuke talk is crossing into the realm of Oompa Loopas and the sasquatch..,. Stop talking complete and utter pants. Trident; who builds them... If they (yanks) choose to change the GPS cypher, or jam our network, or a myriad of things they can do to our system, we are 100% in the dark. But anyway, enough c0ck waving: If the Yanks want, they will take it. Quote Link to comment Share on other sites More sharing options...
stormymonday_2011 Posted June 5, 2010 Share Posted June 5, 2010 http://www.dailymail.co.uk/news/worldnews/article-1284171/Oil-discovery-Falklands-hailed-biggest-kind-North-Sea-Oil.html Apparently Argentina relinquished any rights to a share of the oil in 2007. They will not be happy. What constantly seems to be found in the Falklands is an endless supply of oil share ramping. This circus has been going on for decades now. I know someone who lost a shed load of redundancy money investing in an earlier round of Falkland oil bonanza madness. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 Sorry but no, you are exaggerating. I know its the mood of the times but by any objective standard we are a major power for a nation state that isn't a super-power. We used to be the pre-eminent superpower so this is a colossal fall from grace but "3rd rate" is ridiculous, our ability to project force is significant. Don't misinterpret this as jingoism or complacency but your post is the sort of thing that only a Briton (or an American in a boasting mood) could write, start subscribing to Jane's if you don't believe me. Whatever. Why Janes when I've played with a lot of the toys myself. Our ability to project force is dependent on America giving us the permission to do so. We couldn't even take our own hardware to the Gulf FFS. What are you all smoking? Give me some! Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted June 5, 2010 Share Posted June 5, 2010 Ok, hypothetically speaking, as this nuke talk is crossing into the realm of Oompa Loopas and the sasquatch..,. Stop talking complete and utter pants. Trident; who builds them... If they (yanks) choose to change the GPS cypher, or jam our network, or a myriad of things they can do to our system, we are 100% in the dark. But anyway, enough c0ck waving: If the Yanks want, they will take it. I know someone who built the warheads - I'll drop him an email and get back to you. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 The other thing to consider is that Falklands War I was just a naked land-grab by some deeply unpleasant generals. This time round - rightly or wrongly - the entire continent of S America sees it as a naked grab of continental resources. There won't be any quiet backing of the UK. It's just energy, and it really won't be up to our government as to how it is extracted, refined, or distributed. All we have so far is a wildcat well or two that has shown promise. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted June 5, 2010 Share Posted June 5, 2010 Oil found in the Falklands? Is the leak in the Gulf that bad? Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted June 5, 2010 Share Posted June 5, 2010 It's just energy, and it really won't be up to our government as to how it is extracted, refined, or distributed. All we have so far is a wildcat well or two that has shown promise. True. Funny but I was listening to the "born again anti-oil" person Boone Pickins on CNBC yesterday, Talking about natural gas, the price, how the US is self-sufficient in gas for a couple of hundred years. I too am in the industry here in the US in an indirect way. What he says makes perfect sense and only the pro-israel, big oil interest would argue with him. If Mid-East oil goes away, Israel is screwed, whichever way you look at it. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 I know someone who built the warheads - I'll drop him an email and get back to you. Good for you. I'll give you a hand as well. http://www.lockheedmartin.com/index.html Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted June 5, 2010 Share Posted June 5, 2010 Bought some of these at £1.40 and dumped them at £1.95 - doh!!!! Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 5, 2010 Share Posted June 5, 2010 How many finds is that in the Falklands now? and how many times has Greece been bailed? and is there a Bilderberg meeting this weekend? just a few PsTB having a laugh?? Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 5, 2010 Share Posted June 5, 2010 Bought some of these at £1.40 and dumped them at £1.95 - doh!!!! It's not really the drillers that will make the big profits. They are just contractors. Its the majors that lease the blocks, and services that will be coming to extract, maintain, and distribute, whoever they are, that are worth the punt. Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted June 5, 2010 Share Posted June 5, 2010 (edited) http://www.dailymail...th-Sea-Oil.html Apparently Argentina relinquished any rights to a share of the oil in 2007. They will not be happy. 242 million barrels eh? Wow, that sounds like a lot doesn't it. And there may even be millions more as well!. Let's assume there is 10 times as much as 242 million. So that'd be 2,500 million barrels OK, given the global consumption rate of 85 million barrels per day. That would be Less than 4 weeks global supply. On the other hand, if there really is only 242 million barrels there. That would be 2.8 days of global supply Edited June 5, 2010 by Steve Cook Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted June 5, 2010 Share Posted June 5, 2010 Good for you. I'll give you a hand as well. http://www.lockheedmartin.com/index.html Still waiting for a reply But the official line from 2006 is http://www.mod.uk/NR/rdonlyres/AC00DD79-76D6-4FE3-91A1-6A56B03C092F/0/DefenceWhitePaper2006_Cm6994.pdf the Vanguard-class submarines can operate readily without the Global Positioning by Satellite (GPS) system and the Trident D5 missile does not use GPS at all: it has an inertial guidance system. There is nothing in the planned Trident D5 life extension programme that will change this position. You have to ask yourself how Maggie intended to nuke Buenos Aries - before the advent of GPS. Quote Link to comment Share on other sites More sharing options...
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