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    $1 trillion spent on new oil exploration.

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    papa_umau
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    $1 trillion spent on new oil exploration.

    Post by papa_umau on Tue 26 May 2015, 12:53 pm

    Oil company bosses' bonuses linked to $1tn spending on extracting fossil fuels

    ExxonMobil, Shell, Chevron, Total and BP pour funding into projects to unlock oil reserves despite scientists warning they will lead to climate change disaster.

    Bosses at the worlds big five oil companies have been showered with bonus payouts linked to a $1tn (650bn) crescendo of spending on fossil fuel exploration and extraction over nine years, according to Guardian analysis of company reports.

    The unprecedented push to bring untapped reserves into production, and to exploit new and undiscovered fields, involves some of the most complex feats of engineering ever attempted. It also reflects how confident Exxon Mobil, Shell, Chevron, Total and BP are that demand will remain high for decades to come.

    Get the full Guardian story HERE




    There you have it folks: it would appear that we are not going to run out of oil at all.

    I have often wondered if the very slow introduction of alternative power sources from the renewables is being deliberately delayed by the powerful lobbying that comes from these fossil fuels industries ?

    I have also been watching how the growth of electric and plug-in hybrid vehicles is going and have to ask, are they being deliberately priced too high in order to stunt the growth of sales and allow the fossil-fuels lobby to keep going ?

    What do you think about this ?


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    Nuthin fancy
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    Oil

    Post by Nuthin fancy on Wed 27 May 2015, 10:25 pm

    Hi All,

    Interesting topic Paps, Such a shame there isn't much left in Scotland to support SNP spending!

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    papa_umau
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    Re: $1 trillion spent on new oil exploration.

    Post by papa_umau on Thu 28 May 2015, 11:00 am

    Funneeeeeee Very Happy

    In fact most of the new fields that are soon to be coming on line are in the Scottish sector of the North sea

    Yes, some are being won in very deep water off the continental shelf, but they still come under "Scottish" waters.

    A report at the Oil of Scotland.org site might be interesting to you.

    Also, if you scroll down the page you will find this in red: "An oil find in the North Sea off Aberdeen has the potential to be one of the biggest discoveries of recent years".


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    Re: $1 trillion spent on new oil exploration.

    Post by Angie baby on Sun 31 May 2015, 12:31 pm

    I have always thought that the oil and gas game is one big fanny.

    They regularly try to con us into thinking things that make them look good by running all kinds of stories.

    I think that the fact is that they still have plenty of oil in the ground or under the sea and they want us to think that it is beginning to run out just so they can keep the price up.

    In any case they want to keep us all using their filthy fossil-fuels and by suppressing the alternative power principles and holding up the cost of electric and hybrid cars they can keep making billions for their companies and their company fat-cats.

    It's rotten I tell yer ! Mad
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    Re: $1 trillion spent on new oil exploration.

    Post by papa_umau on Fri 05 Jun 2015, 12:01 pm

    "Fanny" ? Very Happy What a great description for what goes on in the oil industry.

    Actually the group has has the greatest control over the price of oil is the OPEC countries as they often turn on and off the tap down there in the Middle East in order to manipulate the world price.

    When the world has eventually gone to the renewables instead of the burning of fossil fuels the price of oil will drop like a stone so that we might be encouraged to keep using it.

    Sadly, not in my lifetime I think.


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    Re: $1 trillion spent on new oil exploration.

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