tag:blogger.com,1999:blog-14474631.post7611392055127185482..comments2023-10-19T05:40:59.162-04:00Comments on Sippican Cottage: Sippican's Law of Thermodynamics: Matter or its Energy Equivalent Can Neither Be Created nor Destroyed, With One ExceptionSippicanCottagehttp://www.blogger.com/profile/14940797380578921776noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-14474631.post-65068563592502225032015-07-13T13:37:10.345-04:002015-07-13T13:37:10.345-04:00Oh! The HORROR of Greenpeace will know no bounds!...Oh! The HORROR of Greenpeace will know no bounds!Sam L.https://www.blogger.com/profile/00996809377798862214noreply@blogger.comtag:blogger.com,1999:blog-14474631.post-36383527187989658802015-07-13T11:05:16.524-04:002015-07-13T11:05:16.524-04:00It's a boat floating over a natural gas well. ...It's a boat floating over a natural gas well. They'll cut the anchor rode and float it over the next natural gas field when that one peters out. The boat doesn't stop being the boat when the gas runs out. The people that spent 12 billion dollars on that boat say there's 25 years-worth of NG in that field. They put 12 billion where their mouth is.<br /><br />I have known many petroleum engineers in my life. They're not weathermen. They aren't allowed to be wrong, and seldom are. SippicanCottagehttps://www.blogger.com/profile/14940797380578921776noreply@blogger.comtag:blogger.com,1999:blog-14474631.post-33908327735194574592015-07-13T09:58:08.312-04:002015-07-13T09:58:08.312-04:00I did not do the math but note one potential error...I did not do the math but note one potential error in what's reported here. Oilfields decline in productive capacity. Once fully developed they go 'downhill' constantly until they become no longer economic to operate. If your math does not take that into account your estimate of the longterm production (and value) is over-stated .... and of course, anyone's 'economics' have to factor in the time-value of money - 25 years is a long time. It's a huge investment. No doubt they'll make a nice return but don't think it's a 'windfall'.Anonymousnoreply@blogger.com