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Post by lonelocust on Jun 23, 2009 0:22:26 GMT -5
tpmcafe.talkingpointsmemo.com/talk/blogs/john_hempton/2009/06/creation-science-oil-drilling.php"However I had what was – in my view – a market test of whether creation science was garbage. And that was that there were plenty of oil companies spending cumulatively billions of dollars on oil exploration using methods of finding oil (eg fossils of seeds and weeds) that were consistent with evolution and inconsistent with creation science. However I could find nobody who spent even a few million drilling for oil based on creation science. "This blog however corrects its mistakes. There is a serious oil company that does drill based on biblical texts and creation science. I was plain wrong." The link contains a video. Oh man. Edit: Actually, it's more that it's just Bible-based oil prospecting more than "creation-science" per se. It's not extrapolated from some sort of predictions based on a young earth and a global flood, but based directly on other Bible passages.
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Post by Armand Tanzarian on Jun 23, 2009 0:28:01 GMT -5
Wow, what?
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Post by ausador on Jun 23, 2009 1:53:11 GMT -5
Three years as a publically traded stock and still not one dollar in sales to date, 77 million in capitalization though, somebody is getting suckered alright. Edit: Still an active stock though, they just announced a new 165,000 acre lease deal yesterday and then today the stock fell by 90 cents (-11.25%). Hmm, guess there is more to the story, someone bid it up to about $17.00 a couple of months ago and then took their profits and dumped it. It looks like it has been going almost straight down ever since... 2nd Edit: Bwahahahaha... We hold 100% of the working interest in our licenses, which means we are responsible for 100% of the costs of exploration and, if established, production. Our net revenue interest is 81.5%, which means we would receive 81.5% of the gross proceeds from the sale of oil and gas produced from lands subject to the licenses (and any leases granted following a declaration of a discovery thereon), if there is any commercial production. The 18.5% we don’t receive is due to a 12.5% royalty reserved by the State of Israel and a 6.0% royalty to charitable foundations that we established. Other than its 12.5% royalty, the government has no right of participation in any portion of our project. No royalty would be payable to any landowner with respect to production from our license areas as the State of Israel owns all the mineral rights. In addition, we intend to establish an employee incentive pool of up to 1.5%. This means that our effective net revenue interest after payout will be no less than 80%, subject to our maintaining a 100% working interest in our licenses.Of course that is all supposeing that there ever is any actual revenue...damn christians are gullible sometimes.  |
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Post by wmdkitty on Jun 23, 2009 2:43:02 GMT -5
Did I read that right? Oil prospecting based on Creation "Science"?
They really do keep getting dumber!
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Post by lonelocust on Jun 23, 2009 2:58:00 GMT -5
Did I read that right? Oil prospecting based on Creation "Science"? They really do keep getting dumber! I finished watching the video after posting the article, and they actually still assume a correct geological model for where to look for the oil as far as depth goes. They're just relying directly on Biblical prophecy as to where geographically they are looking. I'm not sure if that is more or less stupid. Probably about the same. |
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Post by wmdkitty on Jun 23, 2009 3:01:19 GMT -5
Did I read that right? Oil prospecting based on Creation "Science"? They really do keep getting dumber! I finished watching the video after posting the article, and they actually still assume a correct geological model for where to look for the oil as far as depth goes. They're just relying directly on Biblical prophecy as to where geographically they are looking. I'm not sure if that is more or less stupid. Probably about the same. It's still facepaw-inducing stupidity, and deliberate ignorance to boot. |
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Post by Paradox on Jun 23, 2009 6:39:21 GMT -5
Did I read that right? Oil prospecting based on Creation "Science"? They really do keep getting dumber! I finished watching the video after posting the article, and they actually still assume a correct geological model for where to look for the oil as far as depth goes. They're just relying directly on Biblical prophecy as to where geographically they are looking. I'm not sure if that is more or less stupid. Probably about the same. Does the Bible even mention that kind of oil? Where the hell are they getting this from, some sort of Bible code bullshit? |
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Post by mice34 on Jun 23, 2009 8:22:57 GMT -5
Where do they get all these millions and millions of dollars to throw away on nothing?!
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Post by Star Cluster on Jun 23, 2009 8:32:45 GMT -5
Where do they get all these millions and millions of dollars to throw away on nothing?! Most likely, fundie investors that want so bad for them to strike oil. If they were to strike oil, this would be killing the proverbial two birds with one stone. One, it would somehow prove to them that the Bible is correct and and give a big "in your face" to the non-Judeo-Christian world. Two, while doing #1 above, it would make them rich. And after all, that's what really matters, isn't it? Edit to correct spelling. |
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Post by rookie on Jun 23, 2009 8:55:12 GMT -5
Wow, now that's dumb. The only thing that worries me is if they were to find oil, they would take the coincidence to mean the bible works for more than keeping my couch with the short leg level.
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Post by Star Cluster on Jun 23, 2009 13:00:41 GMT -5
Wow, now that's dumb. The only thing that worries me is if they were to find oil, they would take the coincidence to mean the bible works for more than keeping my couch with the short leg level. If I read the story correctly, they are drilling in Israel, not exactly the hot spot for oil production in the middle east. So if they do happen to hit oil, yeah, we have a lot of crap to put up with. |
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Post by CtraK on Jun 23, 2009 13:54:08 GMT -5
Where do they get all these millions and millions of dollars to throw away on nothing?! Twitter joke, anyone? |
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Post by gizmoturner on Jun 23, 2009 14:05:09 GMT -5
There are a couple of firms using bible-based "science" to drill for oil in Israel. Unfortunately, Moses went looking for milk and honey instead of oil and turned left instead of right, otherwise, geopolitics would be vastly different today. Wonder why the god in the bible gave oil to today's arabs/muslims/persians/russians/venezualans and whoever...perhaps he wanted to avoid really, really, really bad anti-semitism? Wonder what the fundies think of THAT!
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Post by Old Viking on Jun 23, 2009 17:41:08 GMT -5
Let's not be too hasty. I'm willing to bet that Bible-based oil drilling is every bit as effective as Bible-based medical science.
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Post by rookie on Jun 23, 2009 18:06:40 GMT -5
Let's not be too hasty. I'm willing to bet that Bible-based oil drilling is every bit as effective as Bible-based medical science. Hey now. If you know a better way than leeches for draining bad blood I'd like to hear it. |
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