Petroleum, Mining, and Logging Industries

[Parchie]

I still see you're confusing financial instruments from the money in circulation. There is need to go back to your notes in Monetary Systems and Economics basics.

On the oil prices, no matter what procedure you'll be using, the cold facts doesn't change - oil prices are controlled by greedy people and not because there is this Oil Peak and supply issues that some people are peddling.

[d7beast]

Kahit na gas lang okay na,..our country is so blessed, if not oil and gas deposits, it's copper and gold, or abundance in RE sources our country really need to invest in how to retrieve commercially these resources instead of letting foreigners recover it for us on a very lop-sided sharing scheme,..

Preparatory works start for Cagayan Valley oil prospect
By Neil Jerome C. Morales (The Philippine Star) Updated February 18, 2012 12:00 AM Comments (0)

MANILA, Philippines - Preparatory works for a $5-million oil exploration project in Cagayan Valley is already under way, an official of the Department of Energy (DOE) said.

Stakeholders of Service Contract (SC) 52 are already conducting a flow test as part of the drilling works at the Nassiping-2 well, DOE Assistant Secretary Ramon Allan V. Oca said.

“They have reached the target depth and they are expected to start the flow test,” he said.

The exploratory drilling began on Feb. 8 and reached a depth target of 3,014.4 meters on Feb. 11.

The SC 52 consortium is composed of Australia’s Frontier Gasfields Pty. Ltd. which has a 30 percent stake, Frontier Oil Corp. (50 percent) and E.F. Durkee & Associates (20 percent).

The group expects a well flow test for the Nassiping-2 this weekend. The test will aid the firms in determining the well design and equipment needed to develop the oil and gas reserves in the area.

SC 52 covers 96,000 hectares in Piat-San Jose in northern Cagayan Valley. The Nassiping-2 is an existing well containing a previously discovered but untested gas discovery. It was drilled in 1984 and penetrated a substantial, gas-bearing limestone section but was not flow-tested.

“The well test duration will be dependent upon results,” Frontier Gasfields said.



Frontier Gasfields and locally listed Trans-Asia Oil and Energy Development Corp. earlier signed a farm-in option agreement for SC 52 wherein Trans-Asia has the option to acquire 10 percent of the block upon payment of an agreed amount.

http://www.philstar.com/Article.aspx...bCategoryId=66

[ralfy]

Originally Posted by Parchie

I still see you're confusing financial instruments from the money in circulation. There is need to go back to your notes in Monetary Systems and Economics basics.

The problem isn't that I'm confusing financial instruments with money in circulation, it's that you think money consists only of coins and bills, that financial instruments cannot be used as money, that only governments create money, and that banks cannot lend more than what they have on hand. All of these arguments are wrong.

On the oil prices, no matter what procedure you'll be using, the cold facts doesn't change - oil prices are controlled by greedy people and not because there is this Oil Peak and supply issues that some people are peddling.

Oil prices are driven by combinations of speculation and increasing demand. If it were driven heavily by the former, then we should see wild swings in the price right now, but that's not the case.

The truth, as BP reveals, is that oil production has been in an undulating plateau since 2006, exactly as Hubbert predicted. Meanwhile, energy demand continues to go up and now met by increasing reliance on non-conventional sources of energy. That is absolute proof of peak oil. If peak oil were not true, then there would hardly be any reliance on non-conventional sources of energy at all, not even the need to revive dead fields:

"Saudi Aramco to Re-Open Oldest Field to Tap Heavy Oil, EIU"

http://www.businessweek.com/news/201...y-oil-eiu.html

And that's heavy-sour oil, which like that of Manifa, requires higher energy costs for processing, and further illustrates EROEI.

In the end, no amount of funny money creation will solve lower energy returns. And any "peddling" will involve the opposite: the need to see peak oil as a "myth" and thus encourage people to spend more.

[wolfram74]

Carcinogen found in water of Palawan underground river
February 23, 2012

A HIGH level of hexavalent chromium (Cr-VI), a toxic and carcinogenic chemical, was detected at the Togupon River in Palawan Island, home to the world-famous underground river of Puerto Princesa City, an environmental study conducted by experts showed.

Alarmed by such finding, environmental groups belonging to the Kalikasan-People’s Network for the Environment (Kalikasan-PNE) called on President Aquino to suspend mining operations in the area pending further investigation of its impact on human health and the environment.

Clemente Bautista, national coordinator of Kalikasan-PNE, called on erring companies “to clean up and rehabilitate the contaminated water bodies to immediately avert possible impacts on surrounding communities and ecosystems.”

He said their group is now studying the possibility of pursuing a legal case against those responsible for the river’s contamination.

[Parchie]

Originally Posted by wolfram74

Carcinogen found in water of Palawan underground river
February 23, 2012

A HIGH level of hexavalent chromium (Cr-VI), a toxic and carcinogenic chemical, was detected at the Togupon River in Palawan Island, home to the world-famous underground river of Puerto Princesa City, an environmental study conducted by experts showed.

Alarmed by such finding, environmental groups belonging to the Kalikasan-People’s Network for the Environment (Kalikasan-PNE) called on President Aquino to suspend mining operations in the area pending further investigation of its impact on human health and the environment.

Clemente Bautista, national coordinator of Kalikasan-PNE, called on erring companies “to clean up and rehabilitate the contaminated water bodies to immediately avert possible impacts on surrounding communities and ecosystems.”

He said their group is now studying the possibility of pursuing a legal case against those responsible for the river’s contamination.

Our news business really still has a long way in improving the quality of information they report! Crazy reporter or lazy proof readers? The title says "carcinogen found in water of Palawan underground river" (located at Sabang, northern Palawan) but the link mentions Rio Tuba Nickel Mining Corporation - which can be found in southern Palawan!

Still, this needs to be investigated by the DENR!

But I doubt if these CrVI can be generated in nature unless extreme heat is introduced into the ore containing chromium! I tried searching the internet to see how this carcinogen gets to affect people. I found out that CrVI is dangerous when inhaled (in gaseous state); not dissolved in water! Here

FWIW, let's hear it from the experts with no hidden agenda. DENR, DENR, calling DENR!

[pugak]

Reed Bank oil hunt widened
3

by Alena Mae S. Flores

Forum Energy Plc, a London-based oil and gas company, is looking at new oil and gas prospects not far from the disputed Spratly group of islands in the South China Sea.

Forum Energy, controlled by Philex Mining Corp. of the Hong Kong-based First Pacific group, said the new prospects lie outside of the Sampaguita gas discovery field but within the Recto Bank (formerly Reed Bank) in the South China Sea.

The company said in a statement data from previous 2D and 3D seismic studies on service contract 72, where the Sampaguita gas field is located, were being interpreted by an international consultancy company. A final report is expected by middle of the year.

The SC 72 license covers an 8,800 square kilometers in offshore west Palawan in the South China Sea. It is estimated to contain 3.4 trillion cubic feet of gas but Forum Energy said eight additional leads which require further work has the potential to add a further 20 trillion cubic feet of gas.

“The interpretation of the 3D data aims to identify optimal drilling locations over the Sampaguita gas field. The interpretation of the 2D data is also ongoing and aims to identify new prospects outside the Sampaguita gas field and potentially to elevate known leads to prospect status,” Forum said.

Forum Energy earlier said the Recto Bank is at least 150 kilometers east of the Spratlys and is closer to the island of Palawan. The contract area is also within the 200 nautical mile exclusive economic zone of the Philippines.

China and the Philippines, along with other nations, are locked in a territorial dispute in the South China Sea.

Taiwan, Brunei, Malaysia and Vietnam also have claims in the South China Sea, particularly in the Spratly group of islands.

China has made aggressive moves in the contested islands, prompting Manila and Hanoi to file diplomatic protests.

Forum Energy did not say when it planned to start exploratory drilling.

Forum Energy has a 70-percent stake in SC 72 while 30 percent is held by Monte Oro Resources and Energy Inc.

Energy Undersecretary Jay Layug earlier said Forum Energy did not have a “firm commitment” to drill an exploratory well this year.

Those that committed to drill this year are Blade Petroleum (Cadlao block, service contract 6 in Northern Palawan), Galoc Production Co., (SC 14 in NW Palawan), PNOC Exploration Corp. (SC 37 in Cagayan and SC 63 in SW Palawan), Gas2Grid (SC 44 in Visayas Basin), CIMP (SC 49 in Visayas Basin), Frigstad Energy (SC 50 in NW Palawan), Pitkin Petroleum (SC 53 in Mindoro-Cuyo) and BHP Billiton (SC 54 and 59 in SW Palawan).

http://www.manilastandardtoday.com/i...012/january/31

[ionic_child]

Heated exchange between MVP, Gina Lopez punctuates mining debates

MANILA, Philippines -- (UPDATE, 7:02 p.m.) The chairman of the country's biggest mining company, Manny V. Pangilinan, on Friday engaged ABS-CBN Foundation head Gina Lopez in a heated face-to-face debate over the industry's social and environmental responsibility, rejecting a sweeping statement that portrayed Pangilinan as blind to the environmental and community issues in mining areas.

Pangilinan, chairman of Philex Mining Corp, was particularly irked by Lopez's assertion that Pangilinan had called "all" mining sites "ugly anyway."

"I never said that. Now you're lying," Pangilinan said.

The debate punctuated the Conference on Philippine Mining's Impact on Economy and Ecology, and the industry's and the environmental advocates' advocacies on either side of the discussion.

"You said that the areas that are gonna be mined are ugly anyway. That's so not true. It's not true that the areas to be mined are ugly, you can't do anything there anyway," Lopez said at the conference.

She noted Sibuyan Island in Romblon with its dense forest and clean water.

"And yet the mining tenement was approved there on top of agricultural land," she said.

Lopez also cited Brooke's Point, where she said she has drunk water from a stream. "And yet the government has approved $1 billion worth of mining in that place," she said.

"So when you say that...all these people that come to us...When you say that all these mining areas are ugly anyway, you need to go and visit them," she said.

Pangilinan then cited Padcal in Silangan in Surigao del Norte.

"Who would want to go there and develop a tourism site? There's nothing there," he said.

Before mining entered the place, it was deforested, denuded, Pangilinan said.

"Since that time we've planted 7 million trees...and you know we have a self-contained community, we provide free housing, free hospitals, free education up to high school. What else can you do?

"We have a post-rehab plan. We set aside each year an amount of money because one day that mine will close. There’s a post-rehab plan. Whether by law or not, we do. We care about the people. At some point these guys have to fend for themselves."

Lopez again stood up and said, "...maybe that place is nice and I submit it may be nice...But maybe when you make a statement that all the areas where there’s gonna be mining are ugly anyway, that's the point."

Pangilinan, seated a table away from Lopez, rose to his feet: "I did not say that. Now you're lying."

The master of ceremonies at the conference quickly stepped in, officially moving on from the heated exchange.

(Editor's note: Pangilinan is also chairman of ABC Development Corp., which operates TV5, for which InterAksyon.com is the online news portal.)

please read the comments also. very intriguing revelations...

[d7beast]

Originally Posted by ionic_child

Heated exchange between MVP, Gina Lopez punctuates mining debates



please read the comments also. very intriguing revelations...

That daughter of hypocrite oligarch did not understand what she is saying,..did you think Tagum is poor city? It's economy is one of the strongest among the cities in pinas even it's city hood was just a decade old compared to most cities of the country. It's economy is based on two types of gold: the mineral gold itself and the green gold (BUS$) banana industry,..most of the moneyed people and businessmen of the place struck their riches from mining gold and started only panning gold in the rivers around davao del norte but now they own big business interests in Davao region,..besides, dapat ma-mina natin ang mga ito tayo mismo mga pilipino at dapat walang corruption in the system and the environment na dapat gobyerno ang mangunguna sa pagmina, hinde sa corruption,..

The great city in the making,..(Courtesy of wikipedia):

[NOVO ECIJANO]

"NOW YOU'RE LYING"

Here's that heated argument



http://http://www.youtube.

[absinthe_888]

Gina Lopez: Kamusta na yung West Tower Condo?

[Parchie]

Originally Posted by absinthe_888

Gina Lopez: Kamusta na yung West Tower Condo?

AFAIK, they're mining the area and they found oil! Perhaps Gina will be involved in oil business near West Tower Condo!

[El_Toro]

yan ang environmentalist si gina lopez isa sa mga ngcontaminate ng waters sa west tower makati hahaha

[Wafer]

this is in rio tuba, palawan, where an "ugly" lush forest is getting in the way of mining..

[d7beast]

The government's lazy ass should drive and get involved in mining and recovery of these natural resources this is of national interest,..if what MVP said is true ( regarding Philex mines), then that's responsible mining practices,..

[d7beast]

Originally Posted by Wafer

this is in rio tuba, palawan, where an "ugly" lush forest is getting in the way of mining..

This is corruption in highest order, dapat inayos nila uli yung pinagminahan nila at tinaniman ng mga punong kahoy,..by the way, marami tayong lugar na maraming ginto at copper, pwedeng yun muna ipa-mina nila, lalo na kung reserve yung forest na yan and for every tree cut, they should re-plant 10 trees,..

[Wafer]

MVP is right on this one though.

Marie Antoinette and Gina Lopez

THE poor people of a small town, Manicani, in Eastern Samar do not have much of an education....She came to visit the poor people of Manicani some weeks ago to entice them to fight mining. But she was told that the mine, still under the development stage, would be the poor people’s only possible source of livelihood.....Hardly anything grows on Manicani, not even weeds for goats and cattle. There is the prospect of making a living working for the nickel mine concession...

http://www.malaya.com.ph/02152012/bus_incidental.html

[poker.face]

Originally Posted by d7beast

That daughter of hypocrite oligarch did not understand what she is saying,..did you think Tagum is poor city? It's economy is one of the strongest among the cities in pinas even it's city hood was just a decade old compared to most cities of the country. It's economy is based on two types of gold: the mineral gold itself and the green gold (BUS$) banana industry,..most of the moneyed people and businessmen of the place struck their riches from mining gold and started only panning gold in the rivers around davao del norte but now they own big business interests in Davao region,..besides, dapat ma-mina natin ang mga ito tayo mismo mga pilipino at dapat walang corruption in the system and the environment na dapat gobyerno ang mangunguna sa pagmina, hinde sa corruption,..

The great city in the making,..(Courtesy of wikipedia):

can you give me a link where she mentioned that Tagum City is poor?

[d7beast]

Originally Posted by poker.face

can you give me a link where she mentioned that Tagum City is poor?

I refer to her line she mentioned that mining areas are the poorest in the country??? Had she been to southern Mindanao (Davao region), particularly Comval/ Dvo del norte??? Its center is the city of Tagum, then she's lying indeed,..The gold in these areas are inexhaustible, since the 80's people are already mining the gold first along the rivers and the creeks which just overflows from the mountainsides during heavy rains, yes without regards to any kinds of laws everybody's a royal rumble to get hold of the precious mineral. In fact there is a high demand of condos in Davao from many miner turned multi-millionaires as the bulk of the buying customers. The sad part is that, the government is like a monkey gesturing "see no evil, hear no evil, say no evil" or nakatunganga lang na sana cla ang mangunguna sa pag recover nito para sa ating bansa,..

[sarahwassmann]

hi guys,

any idea how much ethanol in phil is?

[Parchie]

Originally Posted by sarahwassmann

hi guys,

any idea how much ethanol in phil is?

Ethanol is a processed product. Not something mined. Just collect data on how much corn, cassava, sugarcane, etc our country produces and assume we will ferment them all into ethanol, that's how much ethanol we have in the Philippines. But bear in mind, it will be a battle of products for food versus products for fuel.

Consider e.g. sugarcane: a 100 kg sugar will produce around 90 liters of ethanol. (P3,200/100 kg versus P2,372/90 liters ethanol; in short LUGI TAYO DYAN!)