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China Says - "seas Have As Much Oil & Gas As Saudi"

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The South China Sea -- a 1.3 million square mile patch of the Pacific Ocean bracketed by China and several Southeast Asian nations -- is dotted with hundreds of largely uninhabited islands and coral atolls that are home to some of the world's most diverse marine life.

Also under its waves lie potentially huge reserves of natural gas and oil. A Chinese estimate suggests as much as 213 billion barrels of oil lie untapped in the South China Sea which, if true, would make it the largest oil reserve outside Saudi Arabia, according to the U.S. Energy Information Administration.

Will we see our energy 'BILLS' reduce?

http://edition.cnn.com/2011/WORLD/asiapcf/06/27/south.china.sea.conflict/index.html

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The South China Sea -- a 1.3 million square mile patch of the Pacific Ocean bracketed by China and several Southeast Asian nations -- is dotted with hundreds of largely uninhabited islands and coral atolls that are home to some of the world's most diverse marine life.

Also under its waves lie potentially huge reserves of natural gas and oil. A Chinese estimate suggests as much as 213 billion barrels of oil lie untapped in the South China Sea which, if true, would make it the largest oil reserve outside Saudi Arabia, according to the U.S. Energy Information Administration.

Will we see our energy 'BILLS' reduce?

http://edition.cnn.com/2011/WORLD/asiapcf/06/27/south.china.sea.conflict/index.html

Unless they can agree a territorial waters split then SCS is more likely to be the place where WWIII kicks off.

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Unless they can agree a territorial waters split then SCS is more likely to be the place where WWIII kicks off.

I say bring it on as long as death is quick. I'd happily see everyone dead and the planet left to animals and plants.

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I say bring it on as long as death is quick. I'd happily see everyone dead and the planet left to animals and plants.

You first then , i heard jumping off a skyscraper isn't all that painful.

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A Chinese estimate suggests as much as 213 billion barrels of oil lie untapped in the South China Sea

According to this site (link), world oil production in 2008 was 31 billion barrels.

Another source has the global usage figure at 28.8 billion barrels a year (link).

Assuming the lower figure, this discovery represents under 7.5 years worth of global usage.

Assuming that all the oil there could be extracted and not counting the energy required to do so.

every_little_helps.png

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I say bring it on as long as death is quick. I'd happily see everyone dead and the planet left to animals and plants.

lol :lol:

are you still on the sauce? :lol:

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The South China Sea -- a 1.3 million square mile patch of the Pacific Ocean bracketed by China and several Southeast Asian nations -- is dotted with hundreds of largely uninhabited islands and coral atolls that are home to some of the world's most diverse marine life.

Also under its waves lie potentially huge reserves of natural gas and oil. A Chinese estimate suggests as much as 213 billion barrels of oil lie untapped in the South China Sea which, if true, would make it the largest oil reserve outside Saudi Arabia, according to the U.S. Energy Information Administration.

Will we see our energy 'BILLS' reduce?

http://edition.cnn.c...lict/index.html

This kind of deep water oil actually needs oil prices to be up around the $100 barrel to make it worthwhile extracting. As Bart has pointed out, it may supply a few years worth of oil (most of which I assume the Chinese will keep the themselves) and may mitigate the effects of the downslope of Peak Oil, and buy us time to build more wind turbines :P, but it won't lower oil prices. Although we may well have price spikes and demand destruction driven troughs going forward.

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<br />According to this site (<a href='http://planetforlife.com/oilcrisis/oilsituation.html' class='bbc_url' title='' rel='nofollow'>link</a>), world oil production in 2008 was 31 billion barrels.<br /><br />Another source has the global usage figure at 28.8 billion barrels a year (<a href='http://www.taipeitimes.com/News/biz/archives/2004/01/23/2003092364' class='bbc_url' title='' rel='nofollow'>link</a>).<br /><br />Assuming the lower figure, this discovery represents under 7.5 years worth of global usage.<br /><br />Assuming that all the oil there could be extracted and not counting the energy required to do so.<br /><br /><img src="http://www.tesco.com/global_header_footer/every_little_helps.png" /><br />

Promoting "Scot-e now - got shares in 'em?

'Well' - it's got all you Masons riled up for some reason - even a third WW thread stoppa.

They've been pumping billions of barrels out of brunei/Borneo for decades on periphery of Sarf China Sea - no reason it aint true about more gas 'n oil in the area.

And how can this be "deep sea" drilling if the area is "dotted with deserted islands & reefs"

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You first then , i heard jumping off a skyscraper isn't all that painful.

Quite right, the jumping is, in fact, painless. It's the landing that I'd worry about...

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<br />Quite right, the jumping is, in fact, painless. It's the landing that I'd worry about...<br />

Remove the 'M' from I'M'P

'IP' Party (1984)

Church 'Eaves' are Gar 'dens' full of 'Eaves_droppers'

Your IP address is constantly monitored by unaccountables constantly tracking you

The 'tracking' is a Biblical piss-take by NWO IP partyfrom Gospel of John (which junior Masons adhere to) "Make straight the path of the Lord"

Edited by erranta

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If true, this would be a big story, might change the face of the earth.

You would think its something the communist green party would be concerned about, but no, their leader today...

http://www.greenparty.org.uk/news/greens-darren-johnson-and-jenny-jones-join-pensions-march.html

Leading Greens to join today's pensions march and rally

Beware false prophets, voters...

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I'd be interested to hear where you heard that. Or is it a case of "Just passed the 10th floor. So far so good".

A chap called Tom Horn jumped off a skyscraper with some small pebbles in his hand. He told people in advance that if he relased the pebbles when he hit the ground it meant it hadn't hurt much. He released them.

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Remove the 'M' from I'M'P

'IP' Party (1984)

Church 'Eaves' are Gar 'dens' full of 'Eaves_droppers'

Your IP address is constantly monitored by unaccountables constantly tracking you

The 'tracking' is a Biblical piss-take by NWO IP partyfrom Gospel of John (which junior Masons adhere to) "Make straight the path of the Lord"

WTF are you on about there????

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Chinese claims?

schinasea.gif

It's mine all mine I tell you. All you other countries can't have any bits of sea, because it all mine!

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According to this site (link), world oil production in 2008 was 31 billion barrels.

Another source has the global usage figure at 28.8 billion barrels a year (link).

Assuming the lower figure, this discovery represents under 7.5 years worth of global usage.

Assuming that all the oil there could be extracted and not counting the energy required to do so.

every_little_helps.png

It's the standard cry of the eco-mob. Any new field no matter how big can only supply the planet for x years.

Every number looks small in the appropriate context. Remember you're comparing it to 7.5 years of global usage, or 7.5 years of every other oilfield combined on the entire planet. I.e it's a shitload of oil. This oil, along with other similar discoveries and changes in energy usage/improvements in energy efficiency will keep us going for a long time yet.

As regards amount of oil that can be extracted, they usually factor this in on the calculation. However how they can be anywhere near accurate is beyond me.

Even the Forties field was got pretty wrong by someone who had been modelling it for years. What hope for an entire region.

It's more of a political statement from China that they believe there is a shedload of stuff there (and as a consequence a thinly veiled communication that because they beleive this then they are likely to fight hard for it).

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Chinese claims?

schinasea.gif

It's mine all mine I tell you. All you other countries can't have any bits of sea, because it all mine!

Hmmm - that looks a fair claim in accordance with international agreements on the partitiion of seabed rights :unsure:

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Well I suppose thats the answer as to why China is building 5 aircraft carriers with 7 more (native design) planned by 2017.

Heralding the return of Gunboat diplomacy.

Do they really need ACC's given the proxity of the mainland?

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Heralding the return of Gunboat diplomacy.

Do they really need ACC's given the proximity of the mainland?

Probably not..... especially given the irony that China has been throwing billions towards anti aircraft carrier missiles and torpedoes.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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