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Thread: REPSOL needs more money to pay stoner it seems

  1. #1

    REPSOL needs more money to pay stoner it seems

    Cuba Preparing for Offshore Oil Exploration
    A year after the end of the Deepwater Horizon Oil Spill, the worst oil spill in U.S. history, the Cuban government is set to dive into offshore oil exploration. Cuba currently produces little oil but the country believes that it has as much as 20 billion barrels of oil in offshore reserves. The U.S. Geological Survey however, suggests a more modest 4.6 billion barrels. If Cuba is right, the petroleum reserves would be enough to bolster its faltering economy and cut its dependence on oil imports from Venezuela.

    A Spanish company by the name of Repsol will begin drilling the first exploratory well later this year or early in 2012. The well site is located 50 miles from the Florida Keys in Cuba‟s exclusive economic zone (EEZ) and is in very deep water. Cuba‟s portion of the EEZ has been divided into 59 blocks, of which 22 have been leased to companies including Repsol, Malaysia‟s Petronas, Venezuela‟s PDVSA and PetroVietnam among others. A Chinese-built drilling rig, the Scarabeo 9 is expected to arrive in Cuban waters by late this summer or early fall, likely opening the way for full scale exploration of the island‟s offshore reserves. On the bright side, the Scarabeo 9 is a state-of-art semi-submersible rig built to the highest safety standards. Once the first well has been completed, the rig will be passed to other companies with contracts to drill in Cuban waters. Scientists warn that drilling in Cuban waters poses significant risks to the island, the United States and the northern islands of the Bahamas. And that a well blowout similar to the Deepwater Horizon Incident could send oil onto Cuban beaches and the Florida Keys within 3 days. Since many of the well sites are located in or near the Gulf Stream, oil would flow up towards south Florida and beyond potentially threatening Florida‟s coastline and its economy. A recent oil spill modeling study that examined a large well blowout occurring over a 2 month period showed the greatest potential impact to be the southeast coast of Florida and northern coast of Cuba. The study also predicted that the southeast coast of Florida has an 8% chance of being impacted with impacts occurring 5 days from the incident. Although the study included 200 separate scenarios and various wind conditions, it appears that it did not incorporate the formation of eddy currents that form from frictional forces of the Gulf Stream moving north and the long shore current moving south along the southeast Florida coastline. The formation of these circular eddy currents are believed to be a dominate force for moving oil toward the coastline. Therefore, when considering eddy current formation, the probability of impacts to the south Florida coastline is likely much higher in the order of 20%.

    Additional U.S. concerns are the lack of oil spill preparedness in Cuba and the fact that U.S. companies (e.g., oil spill responders) cannot do business in Cuba because of the 1960 U.S. trade embargo unless specifically licensed by the State Department.

    Last edited by seatec; 08-12-2011 at 11:25 AM.
    [SIZE=5][/SIZE]

  2. #2
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    Awesome... Im sure Cuba has stringent rules for offshore drilling.

    Number 1 being that if there is a spill make sure it destroys the USA.
    Follow the liter

  3. #3
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    Im all for offshore drilling. We have all seen "Armageddon". If such a situation occurs we need to know who to send
    - Ryan -
    "Courage is not having the strength to go on; it is going on when you don't have the strength" - Theodore Roosevelt
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  4. #4
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    Ben Aflack is generally not working so he is always available.
    Follow the liter

  5. #5
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    is this the same Repsol as in Honda racing??
    If your Not Going to ride It hard, Dont Get On It..
    www.facebook.com/jay3638
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  6. #6
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    yes
    Follow the liter

  7. #7
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    Yea let everyone else fucking drill except us. One more asshole decision our dick head politicians have come up with. Stoner is part kangaroo I hate him and his long ass tail

    Quote Originally Posted by camel View Post
    You've really fucked up when they can see it from space.
    http://www.youtube.com/watch?v=K_T41...feature=relmfu

  8. #8
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    Quote Originally Posted by jayrx7trbo2 View Post
    is this the same Repsol as in Honda racing??
    Repsol is the ninth or tenth largest oil/fuel dist and process co in the world

    Quote Originally Posted by camel View Post
    You've really fucked up when they can see it from space.
    http://www.youtube.com/watch?v=K_T41...feature=relmfu

  9. #9
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    Buy there stock when the next 500 point drop day happens & hold it until after they hit oil :-)
    If your Not Going to ride It hard, Dont Get On It..
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  10. #10
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    Not a bad idea right there brother

    Quote Originally Posted by camel View Post
    You've really fucked up when they can see it from space.
    http://www.youtube.com/watch?v=K_T41...feature=relmfu

  11. #11
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    unless they hit oil and spill it... then that stock just lost you money... its 50/50
    Follow the liter

  12. #12
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    Repsol rules ! Wish I could afford the shit

    Quote Originally Posted by camel View Post
    You've really fucked up when they can see it from space.
    http://www.youtube.com/watch?v=K_T41...feature=relmfu

  13. #13
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    Lookin ginto it this weekend, we have another stock drop to make it more resonablew to buy it & i may just have to take that shot
    If your Not Going to ride It hard, Dont Get On It..
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  14. #14
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    Repsol is only $25.34 right now....
    "Beware of the lollipop of mediocrity. One lick and you'll suck forever!"Brian Willson

    “I guess it's because we all want to believe that what we do is very important, that people hang on to our every word, that they care what we think. The truth is, you should consider yourself lucky if you even occasionally get to make someone - anyone - feel a little better. After that, it's all about the people that you've let into your life.”— J.D.

  15. #15
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    I thought everyone would say their doing it to get Rossi on a Repsol next year. Come on Honda homers don't let me down now.
    Matt


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  16. #16
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    Quote Originally Posted by RICO View Post
    Repsol is only $25.34 right now....
    Is that for a 5 liter jug?

  17. #17
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    Maybe Obama will tell them to be careful.
    Steve

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