Oil thread 9-7-06:Former BP head of Pipeline invokes 5th

[Engineer]

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Bush has proposed increasing the SPR from 700 million/b to 1 Billion barrels. Also, China is in the process of building a SPR for themselves. Might make a small difference until the above two items take place, but once ours is increased and China's gets rolling, let the stockpiling begin. However, this alone won't effect oil prices too much as demand from automotive and industrial far outweigh the SPR oil (100,000 barrels per day)

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

 

[dahunan]

Our cheapest station here in Eugene Oregon raised prices to $2.30 just yesterday.. and there are stations at $2.50 here now

 

[charrison]

Originally posted by: Engineer

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Bush has proposed increasing the SPR from 700 million/b to 1 Billion barrels. Also, China is in the process of building a SPR for themselves. Might make a small difference until the above two items take place, but once ours is increased and China's gets rolling, let the stockpiling begin. However, this alone won't effect oil prices too much as demand from automotive and industrial far outweigh the SPR oil (100,000 barrels per day)

Current capacity is only 727M barrels. I dont see how we could go to a billion barrels at this point(might not be a bad idea however).

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

Current oil and gas inventories are at a 3 year high....The speculation is likely to end in the near future...

 

[charrison]

shale to oil at $10-20/barrel

 

[0marTheZealot]

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

Current oil and gas inventories are at a 3 year high....The speculation is likely to end in the near future...

Gas and oil inventories may be at a 3 year high in absolute numbers, but they are less in a per day amount due to increased demand.

 

[0marTheZealot]

Originally posted by: charrison
shale to oil at $10-20/barrel

This is also what the majors promised in the '70s. We'll have to see how it pans out first.

 

[charrison]

Originally posted by: 0marTheZealot

Originally posted by: charrison
shale to oil at $10-20/barrel

This is also what the majors promised in the '70s. We'll have to see how it pans out first.

yes we will, but it appears they are starting a pilot project now....

 

[charrison]

Originally posted by: 0marTheZealot

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

Current oil and gas inventories are at a 3 year high....The speculation is likely to end in the near future...

Gas and oil inventories may be at a 3 year high in absolute numbers, but they are less in a per day amount due to increased demand.

THat maybe the case, but inventories are still rising(more supply than demand)...

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: 0marTheZealot

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

Current oil and gas inventories are at a 3 year high....The speculation is likely to end in the near future...

Gas and oil inventories may be at a 3 year high in absolute numbers, but they are less in a per day amount due to increased demand.

THat maybe the case, but inventories are still rising(more supply than demand)...

Magical isn't it???

But but but that plant blew up in Texas :roll: :roll: :roll: :roll: :roll:

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: 0marTheZealot

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

Current oil and gas inventories are at a 3 year high....The speculation is likely to end in the near future...

Gas and oil inventories may be at a 3 year high in absolute numbers, but they are less in a per day amount due to increased demand.

THat maybe the case, but inventories are still rising(more supply than demand)...

Magical isn't it???

But but but that plant blew up in Texas :roll: :roll: :roll: :roll: :roll:

There is more than one refinery(and do we even know if this refinery produce gas?)....

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: 0marTheZealot

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: TastesLikeChicken

Originally posted by: EndGame
Oil Prices Drop Sharply As Gas Plummets

Hmmm. I thought according to the P&N Doom and Gloomer Elite there were going to be spikes to $105.00 a barrel.

They an industry analyst on this after that is expecting oil prices to drop to $28/barrel possible as early as summer. He is basing this on historical inventories and we are currently at 3 year high for oil inventories. He also added that the national petrolium reserve would be full in a few week futher adding slack to the oil market.

Hysterical how $1.54 is a "Plummet"???

$28 is nearly half, no way Jose.

Current oil and gas inventories are at a 3 year high....The speculation is likely to end in the near future...

Gas and oil inventories may be at a 3 year high in absolute numbers, but they are less in a per day amount due to increased demand.

THat maybe the case, but inventories are still rising(more supply than demand)...

Magical isn't it???

But but but that plant blew up in Texas :roll: :roll: :roll: :roll: :roll:

There is more than one refinery(and do we even know if this refinery produce gas?)....

3-31-2005 Explosion at BP Refinery in Texas City Leaves 15 Dead and 100 Injured Plant Still Operating at Reduced Rates

BP has declined to say how many gallons of gasoline the refinery produces a day.

That information is not disclosed for competitive reasons.

The refinery is the third largest in the U.S. and the largest in the BP system with about 450,000 barrels of capacity.

The Texas City refinery produces 3 percent of the nation's motor gasoline.
==================================================
Obviously the numbers don't add up.

It can't be the Third Largest Refinery in the Country but yet only produce 3% of the entire capacity of the Country.

I really hate it when Bullsh!t is doled out like that.

 

[Insomniak]

The daylight saving's time initiative was ridiculously stupid. They say it'll save 10,000 barrels of oil per day. Americans use between 7 and 10 MILLION barrels of oil per day in gasoline alone. Nationwide oil consumption for ALL uses daily is roughly 20 million barrels per day.

So let's see, if we extend daylight savings time like they suggest and save 10,000 barrels of oil per day for two months, we save about 600,000 barrels of oil per year. If we do this for 12 years, we'll have saved enough oil to provide this country with GASOLINE FOR ONE DAY.

And that's using two questionable assumptions: That's assuming that the day in question is a "light day" where only 7,000,000 barrels worth of gas gets used. If it's a 10,000,000 barrel day, then we have to extend daylight savings for 17 years.

Also, this is assuming oil consumption stays constant over that period. I have a feeling it's definitely going to rise, assuming America continues to be prosperous.

Most retarded legislation ever.

 

[Insomniak]

Originally posted by: dmcowen674
4-4-2005 Oil Prices Cross $58 a Barrel Mark

Crude oil prices topped $58 a barrel Monday for the first time as ministers from the Organization of Petroleum Exporting Countries consulted on a production ceiling increase to calm the overheated market.

Al Sabah has attributed the recent change in prices to psychological fears of supply shortages

================================================
Ahahahaha

The Oil Cartel saying it is "psychological" while the P&N Elite swear there is a "real" supply shortage.

I want to so hug you right now. While oil prices are up a bit, it's mainly due to the weakening dollar and the desire of petroleum producing countries to get a higher margin off their product.

Supply shortage? Nah, not really.

 

[3chordcharlie]

Based in sunrise/sunset times, I don't mind 8 months of DST at all, but I don't think the energy savings will be substantial.

Maybe it's a misestimate though - as I understand it, in the second world war, double-DST was used to save energy.

 

[Insomniak]

Originally posted by: 3chordcharlie
Based in sunrise/sunset times, I don't mind 8 months of DST at all, but I don't think the energy savings will be substantial.

Maybe it's a misestimate though - as I understand it, in the second world war, double-DST was used to save energy.

I'm betting consumption was VERY different then than now.

 

[dmcowen674]

A lot of folks can't understand how we came to have an oil shortage here in
America.
~~~
Well, there's a very simple answer.
~~~
Nobody bothered to check the oil.
~~~
We just didn't know we were getting low.
~~~
The reason for that is purely geographical.
~~~
Our OIL is located in
~~~
Alaska
~~~
California
~~~
Oklahoma

and TEXAS
~~~
~~~
Our DIPSTICKS are located in Washington DC

 

[0marTheZealot]

It's funny because we extended DST in order to save oil (~10,000 bpd), but Congress defeated a bill that would reduce consumption by 1mbd.

wacky math

 

[EagleKeeper]

Originally posted by: 0marTheZealot
It's funny because we extended DST in order to save oil (~10,000 bpd), but Congress defeated a bill that would reduce consumption by 1mbd.

wacky math

A bill that would require pain and suffering is not acceptable to the sheep.

 

[0marTheZealot]

It wasn't even pain and suffering. It was to reduce consumption 1mbd by 2020. It was pretty modest and absolutely sensical.

 

[dmcowen674]

Bank Of Montreal says Saudi Arabia Reserve is in irreversible decline

They are injecting water, the fields will be dead very soon :thumbsup:

4-12-2005 Bank says Saudi's top field in decline

"The combination of the news that there's no new Saudi Light coming on stream for the next seven years plus the 27% projected decline from existing fields means Hubbert's Peak has arrived in Saudi Arabia"

Coxe uses the phrase 'Hubbert's Peak' to describe the situation. This refers to the seminal geologist M King Hubbert, who predicted the unavoidable decline of oilfields back in the 1950s.

The Bank of Montreal's analyst Don Coxe, working from their Chicago office, is the first mainstream number-cruncher to say that Gharwar's days are fated.

One factor contributing to the scrutiny the Gharwar field faces is the huge amount of water injection used.

Water is pumped into an ageing oilfield in order to maintain high pressure inside.

Coxe goes on to ask why new Saudi fields, not just ageing ones, are also water injected.

 

[dmcowen674]

Those OPEC Countries sure stick together.

Now Iran says the high prices are great and there NO SUPPLY problem.

Clearly they have to be wrong according to the P&N Experts.

4-14-2005 There is no shortage of supply in world oil markets and the current levels of OPEC production and crude prices are acceptable, Iranian Oil Minister Bijan Zanganeh said on Thursday.

 

[StageLeft]

dmcowen674 doesn't the intent of your last post contradict the intent of the one before it?

 

[dmcowen674]

Originally posted by: dmcowen674


Bank Of Montreal says Saudi Arabia Reserve is in irreversible decline

They are injecting water, the fields will be dead very soon :thumbsup:

4-12-2005 Bank says Saudi's top field in decline

"The combination of the news that there's no new Saudi Light coming on stream for the next seven years plus the 27% projected decline from existing fields means Hubbert's Peak has arrived in Saudi Arabia"

Coxe uses the phrase 'Hubbert's Peak' to describe the situation. This refers to the seminal geologist M King Hubbert, who predicted the unavoidable decline of oilfields back in the 1950s.

The Bank of Montreal's analyst Don Coxe, working from their Chicago office, is the first mainstream number-cruncher to say that Gharwar's days are fated.

One factor contributing to the scrutiny the Gharwar field faces is the huge amount of water injection used.

Water is pumped into an ageing oilfield in order to maintain high pressure inside.

Coxe goes on to ask why new Saudi fields, not just ageing ones, are also water injected.

Originally posted by: dmcowen674
Those OPEC Countries sure stick together.

Now Iran says the high prices are great and there NO SUPPLY problem.

Clearly they have to be wrong according to the P&N Experts.

4-14-2005 There is no shortage of supply in world oil markets and the current levels of OPEC production and crude prices are acceptable, Iranian Oil Minister Bijan Zanganeh said on Thursday.

Originally posted by: Skoorb
dmcowen674 doesn't the intent of your last post contradict the intent of the one before it?

Well well well, there is someone that can read and comprehend in here. :thumbsup:

Clap clap clap, way to go. That's why I said the Oil folks sure stick together.

Sometimes there is faint glimmers of hope that not all the folks in the U.S. are a lost cause.