Occidental will make money off of Cap and trade. So is it now ok with you? - There is a Chance - tkozy's Blog - Bakersfield.com

Jun 28, 2009 at 04:06 PM : CO2 injection is not...

CO2 injection is not free. The injection wells must be drilled and completed. The gas will have to be measured and controlled in order that the formation doesn't get blown out. And how much energy will be required to push the CO2 into the earth 10,000 feet?

But that's ok. Increasing lifting costs in the Bakken field will just help make the Midway-Sunset and Belridge fields look more profitable to exploit.

Jun 28, 2009 at 06:06 PM : drill, Injecting CO2...

drill,

Injecting CO2 cost no more that injecting steam. And we have done that in kern county for decades.

Drillers will make a profit from injecting CO2 for others. They then will cut back on steam injection. And they will recover more crude from what would otherwise be dead formations.

Why is Occidental wrong out at Elks Hills?

And you think you are right!

Jun 28, 2009 at 06:06 PM : Occidental is also...

Occidental is also developing CO2 injection at the Permian Basin.

http://www.greencarcongress.com/2008/07/occidental-to-d.html

Occidental to Develop Major New Permian Basin CO2 Enhanced Oil Recovery Project
1 July 2008
Occidental Petroleum Corporation and SandRidge Energy will develop a $1.1 billion West Texas hydrocarbon gas processing plant and related pipeline infrastructure that will provide carbon dioxide (CO2) for use in Oxy’s enhanced oil recovery (EOR) projects. The new CO2 resources are expected to expand Oxy’s Permian production by a minimum of 50,000 barrels of oil per day within the next five years.
Oxy says that it is the largest user of CO2 injection for EOR in the world. Approximately 60 percent of Oxy’s current Permian Basin oil production is from fields that actively employ the application of CO2 flood technology. Oxy currently operates approximately 8,700 wells in 28 CO2 EOR projects in the Permian, including 3,700 CO2 injection wells that support 5,000 projection wells and injects approximately 1.4 billion cubic feet of CO2 day or about 500 billion cubic feet per year.

Jun 28, 2009 at 07:06 PM : The original link you...

The original link you posted isn't working..

Jun 28, 2009 at 08:06 PM : Florida, How's...

Florida,

How's this?
http://www.greencarcongress.com/2008/07/occidental-to-d.html

Jun 28, 2009 at 08:06 PM : Nope.. that...

Nope.. that doesn't work either.

Jun 28, 2009 at 09:06 PM : GEEZ, Florida They...

GEEZ, Florida

They both work for me. Let me see if I can get you another.

Jun 28, 2009 at 10:06 PM : Florida, Try this,...

Florida,

Try this,

http://www.bing.com/search?FORM=IEFM1&q=occidental+and+sandridge+CO%40+injections

Or just search for Occidental + Sandridge+ CO2 injection.

Jun 28, 2009 at 10:06 PM : Florida, Try this...

Florida,

Try this one. It's about Chevron and it's Kern river field and CO2 injection..

http://www.energytomorrow.org/ViewResource.ashx?id=5360

Jun 28, 2009 at 10:06 PM : Florida, This one is...

Florida,

This one is about BP and RIO Tinto CO2 injections in Kern county

http://www.sjvpartnership.org/announcement.php?ann_id=279

Jun 28, 2009 at 11:06 PM : I'm all for a...

I'm all for a corporation using the latest technology to make money for itself and it's shareholders, especially if I am one of the shareholders.

The plus side to higher crude oil prices is that it makes recovery techniques that were not feasible at $40/bbl cost effective. I don't think oil or gas prices will drop as a result of these new techiques, I think these techniques are a result of the higher gas prices. Chevron, Oxy & Aera are simply responding to market demand for their product and are trying to extract and sell as much of it as they can to generate a profit. Since one of Bakersfield's largest industries is petroleum, any new technique that increases production is only going to benefit the city through higher employment, which will lead to higher demand for goods, which will lead to more businesses supplying those goods, which will lead to more taxes for the city (and state), not to mention the donations made to local charities and events by the corporation and people working for them.

I wasn't sure if you were implying co2 injection was bad, but I for one am all for it.

One thing does puzzle me though - I spent $3.20/gallon for gas in Bakersfield before going to the bay area, where it is twenty cents cheaper across the board. What's up with that?!

Jun 29, 2009 at 06:06 PM : CO2 injection is not...

You are correct drilincrude.

CO2 injection is a secondary recovery technique, and significantly lowers energy returned on energy invested. Less net profit per produced barrel. As long as the crude price is high enough to make a profit, the technique is viable, and adds revenue for the producer, regardless of thermodynamics.

But cheaper crude as a result of secondary recovery techniques? Not a chance.

Jun 30, 2009 at 03:06 AM : crap and trade will be...

crap and trade will be DOA when it goes to the senate

www.examiner.com/x-14766-Charleston-Ron-Paul-Examiner~y2009m6d29-Breaking-Cap--Trade-DOA

once again board communists, youre not getting your way, your science backing your global whatever youre calling it now is garbage, and just wait for the political fallout against those reps that voted for this bill.

Pelosi will pay dearly for this

Jul 4, 2009 at 11:07 PM : Don, Of course by...

Don,

Of course by cheaper crude. I don't mean 20 dollar crude. I mean that CO2 injection will allow for a greater supply. So therefore prices increases will be kept to a minimum. That translates cheaper crude in the context that I was using above.

By the way. For a commodities trader. Cap and trade must be Christmas in the middle of July for you. :>)

Jul 4, 2009 at 11:07 PM : Learnem, I suppose...

Learnem,

I suppose it makes no difference if there is a law. Science has proved cap and trade a financial money maker for the energy industry. So it is a go, law or not.
Even if you don’t believe in science. I took for granted that you could read. Go back to my posts above and see the investments that are already being made in Cap and trade.
Some of the links have pictures.