"CRUDE" oil, an absolute must see program !!!

[Frosty]

I dont smoke drugs ,--Im afraid of fire, epecially when its so close to my nose and lips. But I do take a liquid form of tranqilizer can you guess what it is ,--Buuurp, It begins with B and ends in r and has got 2 e's in the middle.

Difficult I know but its a lovely word and it sounds like deer.

Oh **** wrong thread again. Oh sod it,--- sue me!!

 

[masalai]

Pisspot, look at your rep.... Durnkenness is profitable . . If you do not believe me, click on "Post Feedback" foy your post #182

 

[Meanz Beanz]

OK your Sue.

 

[masalai]

How was work Heinz? Nothing much doing here, except to cook dinner for mum

 

[charmc]

So who is telling lies?

& why is the price going up faster than a missile?

What are your separators for - separating the oil from other stuff?

Did you look at the presentation that Heinz posted?

Why is your country still in the middle east shooting itself in the foot?

who is up whom, and, who is paying the rent ... ?

& why is that stupid "W" trying to emulate "Mugabi" by printing money... ?

Hasn't any one got the balls to tell him that that will stuff an economy FAST?

am I the only sane one left?????

Everyone.

Dunno.

Yup (Duh).

Yup.

Dunno.

Dunno, and dunno.

Dunno.

Nope.

Nope.



GOB's are sane by definition; ranting about the state of the world proves we're sane (and perceptive).

 

[masalai]

Thank you Charlie, Someone stole my bank acc of "Rep Points"????

What is a GOB - (Thinks Jeees I an a dumbarse. . . "Goons may say :- "He fallen in the water Eccles") - - "Grumpy Old *******"

You wanna correct me in "Why are my rudders..."? too?

Thanks for the loan Heinz, - - broke at the moment - points in the mail

 

[Meanz Beanz]

Everyone.

That seems to be the thing with oil, the incentive always seems to be to lie about what you have, what you can pump, where it is etc etc. There always seems to be some benefit in deceit, I suppose it is because oil is power. Its mind blowing what isn't known about our global reserves, its all computer models and promises about reserves taken at face value. Even the much vaunted US inventory numbers are "modeled" or in other words an educated guess... nobody measures or counts ANYTHING above the company level. The biggest oil companies in the world are the NOC's (National Oil Companies) so of course they are all reporting accurate numbers

Matt Simmonds reckons that if we have a supply disruption for any reason and the level of "hydro-carbons" (oil, petrol, diesel, etc) are significantly drawn down we may not be able to "re-fill" the system. That is supply will not stay ahead of demand long enough to rebuild reserves.

Thats why oil is $100 and going higher in the mid term.

 

[Meanz Beanz]

Glad to see you kooking 4 ur mudder Mas

GOB's are sane.... mebe. I dunno? I'm crazy so beyond that little else matters

 

[FAST FRED]

Really dont see what the problem is!

In the US we have enough coal that refines to oil at about $30 a bbl., for 200 years or so.

With Canada we are blessed with shale oil , again a few hundred years worth.

And "clean coal " in the west that makes fine electric.

Only 1/3 of the Gulf of Mexico is being worked , although the deposits in the other areas are well known.
China is drilling the GOM for Cuba, but we don't?

Florida , California and other states have tons of easily recoverable oil, just "illegal" to get it out.

Add the decades of crude in an Arctic Wilderness and you begin to wonder if its time to send some politicos to Wall Mart for a job their Qualified for?

Even drunken Teddy Kennedy (the swimmer) stopped wind farms so far out on a bank that he couldn't see them on a sober day. So much for "alternate energy".

No question China and India have huge energy demands that effect the world market.

But I can hardly understand why the US at least, is shooting herself in the head paying stoopid money for energy we already own?

FF

 

[the1much]

its funny seeing prices go up,,,it works like this,,,,oil at this set price,,,,someone blows a refinery up (last week in big springs,,,Alon refinery went,,,boom,,then,,,bang,) so they got an excuse to raise the price $10 a barrel,,,well that means gas went up too,,,,so for the drilling company to get there and use their big diesel engines,,,,they need to pay higher price for gas,,,,which they pass onto the oil company,,who in turn passes it to us.,,now that the well is dug,,,they need a "pulling" unit to come and put the rods and pump in,,,,well, their price to do it went up,,cause of that gas price,,which the oil company passes to us,,,,then,,after its been set to pump,,you need a roustabout crew to lay all the pipe,,their price went up,,and passed,,and passed again,,,then its time for my separator,,which the price goes up every time the gas does,,,so that gets passed,,,,,then the oil company itself ( more independent oil companies drill oil, then the big companies) needs to maintain all these wells,,,and that takes gas,,,ALOT of gas to ride around those oil leases,,and since even the oil companies pay for their gas,,,thats gets passed along,,,,,,,,sad freakin circle huh,,,,its a circle jerk with most of us in the middle

 

[masalai]

Heinz, all this doom and gloom reminds me of the pessimists poem "....We'll all be rooned, said Hanrahan, before this year is out...." & a good Australian narrative poet too

 

[Meanz Beanz]

FF, where did you get the $30 a barrel number from for coal to fuel? Shale oil is still uneconomic at today's prices, I think you might be thinking of oil sands which again is expensive oil to retrieve. The whole focus of peak oil is the end of cheap oil at its ramifications, not the end of available oil. Keep in mind that the US has not been able to build a refinery in, oh I dunno but its been decades, I know of one guy who has been trying for 15 years to get a new site up. Assuming that you can do $30 coal conversion how long do you think it will take to design and build such a plant? My understanding is it takes the better part of a decade to design, build and commission a modern oil refinery (I need to check that) assuming that the go is given tomorrow. The go will not be given on coal conversion until things are already desperate, then it will be too late as a crisis will be well underway. The point here is not that we don't have options but that we are headed to a crisis point where we are to dependant on the the current set of choices and have no viable succession plans in place. We are literally "crisis managing" our most vital resource and this will lead to economic pain.... that my friend is the problem. If only we could switch one hundred years of infrastructure across as quick as we can talk about the options.

The other thing to keep in mind is that Asia's demand is growing exponentially, when people typically say things like a few hundred years worth they are thinking flat ie @ today's consumption rate. Draw an exponential curve and put a time line on it, that will given you an idea of how "a few hundred years worth" can easily become a "few decades worth".

We are actually approaching an inflection point where we need an energy source with many times (10+) the potential oil provided . That is if we repeat the lesson of every previous human energy crisis where we come out of the other side with 10x the demand and usage that we went into it with. We need a quantum shift in energy tech, not just a few extra barrels.

Don't get me wrong, I think it will be done... just not in an orderly fashion, we have a history of doing our best work under pressure and only responding seriously to crisis.

 

[Meanz Beanz]

The oil industry are "price takers" not "price makers" as are all commodities. The price is set in the international futures markets and is a response to competitive pressure. Futures are forward looking by their very nature, the oil market is deep, liquid and chok full of very sophisticated players. Today's oil price is simply there assessment of where price needs to be to maintain adequate supply given all current realities and potential risks.

The telling thing here is that higher price SHOULD prompt big oil to go find more and this is not happening at the moment. Big oil is taking its profits and buying back shares of its stock and buying junior oil where it makes sense. They are literally "drilling for oil on the NYSE"... why? because the know that the odds are well against them on the discovery front. Yes they are looking but not with the gusto that's going to fix $100 oil. They are making the decision, on behalf of share holders, that the best way to return value to them is by husbanding their resources. Once upon a time and according to econ 101 that should be by finding more resources but out here in the real world it ain't working that way.

 

[Meanz Beanz]

Heinz, all this doom and gloom reminds me of the pessimists poem "....We'll all be rooned, said Hanrahan, before this year is out...." & a good Australian narrative poet too

Don't get me going about the credit crisis... oih! There is opportunity in all this , thats what I am busy looking for

 

[masalai]

Come on then, POST!, It is your thread Too lazy to make a new post, so surprise him when he wakes up!