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

[Deptacon]

Originally posted by: dmcowen674

Originally posted by: Deptacon

Originally posted by: dmcowen674

Originally posted by: Deptacon

Oh please STFU.... yes it would....and it would be more,

cause dems dont have connections to twist arms over to turn up oroduction like bush has been doing

im so sick of reading ur studi fvcking posts

Ah beautiful, gotcha to admit the Oil/Haliburton connection between Bush & the Saudi's :thumbsup:

If production is so high, tons of supply, then why still the high Oil and Gas prices???

every politican has connections.....please.... like kerry was clean from soft money hahahahahahaha. Bush's familiy was in the oil business, and Haliburton isnt a oil company, they are a drilling/govt contracting company, and have been doing govt contract work for over 20 yrs, not just under bush. my Source, im currently preparing to work as a contractor for them.

Bush meeting, and the famuous GARDEN WALK ARM TWIST PICTURES. Bush oil connections give him more power to do something about oil prices then any dem so please. No immeditate promises, but higher increases over time then saudi's had planned

http://www.cnn.com/2005/US/04/25/bush.saudi/

http://www.npr.org/templates/story/story.php?storyId=4618022&sourceCode=RSS

http://www.npr.org/templates/story/story.php?storyId=4618022&sourceCode=RSS


your knowledge of the WORLD OIL market is obviously ZERO. OIL CONSUMPTION WORLD WIDE is going way up, while production isnt moving. It isnt so much our consumption, its china's. here are SOME LINKS, since you guys are link nazi's

http://www.asiantribune.com/show_news.php?id=13996

http://www.startribune.com/stories/535/5311910.html

http://www.iags.org/futureofoil.html

http://www.iags.org/china.htm

Bush oil connections give him more power to do something about oil prices then any dem so please.

So much for your Bush God has more connections to something about Oil prices.

Oil Prices Rebound Above $50 a Barrel Mark

The latest petroleum supply snapshot from the U.S. Department of Energy showed a 2.6 million barrel increase in crude oil last week, bringing the nation's inventories to 327 million barrels, or 9 percent above year ago levels.

The supply of gasoline grew by 2.2 million barrels to 213.5 million barrels, or 6 percent above year ago levels.

Oil analyst Tim Evans at IFR Energy Services in New York said there is plenty of crude oil and gasoline in the market,

and that traders and speculators are downplaying these supply-demand fundamentals.

He said what's keeping oil prices high is "a near-religious belief that although the market is not tight now, it will be later."
====================================================
Again in Bolded Black and White that it has NOTHING to do with SUPPLY and DEMAND, NOTHING

hahaha you posted this in three threads!!!! HAHAHAHAHAHA you actually think ur right too, good GOD! everyone needs to go read here.... read pages 4 and 5

http://forums.anandtech.com/messageview...&STARTPAGE=4&FTVAR_FORUMVIEWTMP=Linear

Your not accoutning for higher global consumption
anticipation of higher demand
AND ITS A FREE MARKET, it cant really be controlled without higer output

 

[dmcowen674]

Originally posted by: Deptacon

hahaha you posted this in three threads!!!! HAHAHAHAHAHA you actually think ur right too, good GOD! everyone needs to go read here.... read pages 4 and 5

http://forums.anandtech.com/messageview...&STARTPAGE=4&FTVAR_FORUMVIEWTMP=Linear

Your not accoutning for higher global consumption anticipation of higher demandAND ITS A FREE MARKET, it cant really be controlled without higer output

I love how the Bush Fan Bois come back with meaningless junk.

If that was truly the case we would've been completely out of Oil back in 1973.

 

[Deptacon]

Originally posted by: dmcowen674

Originally posted by: Deptacon

hahaha you posted this in three threads!!!! HAHAHAHAHAHA you actually think ur right too, good GOD! everyone needs to go read here.... read pages 4 and 5

http://forums.anandtech.com/messageview...&STARTPAGE=4&FTVAR_FORUMVIEWTMP=Linear

Your not accoutning for higher global consumption anticipation of higher demandAND ITS A FREE MARKET, it cant really be controlled without higer output

I love how the Bush Fan Bois come back with meaningless junk.

If that was truly the case we would've been completely out of Oil back in 1973.

what? WTF are talking about, how does supply a demand ....man, obviously you never went to college.... how would we have been completly out of Oil, explain this, THEY CUT PRODUCTION, thats why prices went up, they didint run out, theycut production, they affected the supply level

other nations like india and china have booming economies right now, gorwing and staggering rates, there consumption is acclerating so fast, its fatser than the yearly avg output increases.... AND IN GLOBAL TOTALS GLOBAL!!! Consumption is outpacing production! WTF is so hard to undersnatd about that, stop thinking so small, as in just american supply, its more than that.....

god god go get a freaking education, and take some business classes like econ, gobal trade, and gobal trade logistics

cause you dont know anything... only what YAHOO news tells you....hahahaha

 

[dmcowen674]

Originally posted by: Deptacon

cause you dont know anything... only what YAHOO news tells you....hahahaha

I'd rather get my News from Yahoo than Faux News.

 

[Deptacon]

Originally posted by: dmcowen674

Originally posted by: Deptacon

cause you dont know anything... only what YAHOO news tells you....hahahaha

I'd rather get my News from Yahoo than Faux News.

sorry do you see any foxnews links in my posts, um I DONT THINK SO, looks like you can't read either

your problem is you make assumptions, about people, about situations, about everything. I bet becuase I say im a republican that I go to church 3 times a week, I hate gays, Im against abortion. Im for lower taxes for the rich, I belive everything on foxnews and out of hannity's mouth and all the other stereotypes....

the answer to all those is no......

stop making assumptions

Im not the smartest guy in the pile.....but i know the international business field and i know economics..... and all your doing is trying to find news clippsing (which im surprised you found that one) that couter the supply demand situation and the global consumption problem with the current oil crisis.....

 

[dmcowen674]

Peak Oil and Doomsday Fear scenario by Traders continues

and folks complain I am negative :roll:

5-6-2005 Oil Prices Rise for Third Day in a Row

Oil prices rose for the third day in a row Friday as traders brushed aside rising crude inventories and signs of slowing demand growth and focused instead on fears that producers will have trouble keeping the market adequately supplied longer term.

 

[dmcowen674]

Wow

Inventories up 34 Million Barrels from a Year ago yet prices are 20% HIGHER

There is your legal Price Gouging right there courtesy of Bush and the rest of all Oil Barons and the Republicans especially those in here that support them.

Good job :thumbsup:

5-18-2005 Oil Prices Fall Below $48 a Barrel on Data

NEW YORK - Crude oil prices shed more than $1 to below $48 a barrel Wednesday after government data showed U.S. crude stocks rose a larger-than-expected 4.3 million barrels, the 13th increase in 14 weeks.

The U.S. Department of Energy's midweek inventory data reported U.S. crude oil inventories rose to 334 million barrels in the week ending May 13 from the previous week. That is up 34 million barrels from a year ago.

Crude prices have fallen more than $9 from an all-time high of $58.28 on April 4 due to rising U.S. oil stocks. Prices remain around 20 percent higher than a year ago.

Saudi Arabian Oil Minister Ali Naimi also said a possible shortfall in refinery output, not supplies, was the main concern.

"I stand here to tell you that Saudi Arabian reserves are plentiful, and we stand ready to raise output as the market dictates," Naimi said Tuesday in Washington. "The refinery bottlenecks are the problem."

 

[Crimson]

Price goes up, Dave says its bad.. price goes down, Dave says its bad..

Yawn...

Come up with something new Dave.

 

[conjur]

Originally posted by: dmcowen674
Wow

Inventories up 34 Million Barrels from a Year ago yet prices are 20% HIGHER

There is your legal Price Gouging right there courtesy of Bush and the rest of all Oil Barons and the Republicans especially those in here that support them.

How much has to do with the drop of the dollar?

 

[dmcowen674]

Prepare for at least $70 barrel most likely $75.

The Oil Barons want $60.

When they wanted $35 a barrel it's been sitting around $45-50

Also looks like another embargo may be on the horizon.

5-22-2005 Venezuela May Support OPEC Lower Output

CARACAS, Venezuela - Venezuela would likely support a cut in oil production if fellow OPEC members favor a reduction in world oil supplies, Venezuela's oil minister said.

Venezuela "will do whatever is necessary to defend the price of oil," he said.

Earlier this month, Venezuelan President Hugo Chavez said OPEC-produced oil should be fetching between $40 to $60 a barrel on international markets.

Venezuela is the world's fifth largest oil exporting country and a main crude supplier to the United States.

Also Saturday, Ramirez said the companies that run 32 operating agreements under state oil company Petroleos de Venezuela S.A. owe roughly $3 billion in back taxes.

Similarly, foreign firms with heavy crude upgrading projects in Venezuela's Orinoco tar belt owe more than $1 billion in unpaid royalties, he said.

"We have talked about it with the companies and we're demanding that they follow (the law) or they won't be able to continue operating in the country," he said.

 

[ElFenix]

Originally posted by: dmcowen674

Also Saturday, Ramirez said the companies that run 32 operating agreements under state oil company Petroleos de Venezuela S.A. owe roughly $3 billion in back taxes.

Similarly, foreign firms with heavy crude upgrading projects in Venezuela's Orinoco tar belt owe more than $1 billion in unpaid royalties, he said.

"We have talked about it with the companies and we're demanding that they follow (the law) or they won't be able to continue operating in the country," he said.

sounds like yukos all over.

 

[dmcowen674]

After 4 days of reports showing growing inventory in the U.S., can't have that so must have another refinery problem to be excuse to send prices back up.

Same propaganda as the Bush Admin, fear works all around:

5-25-2005 Oil Prices Climb Toward $50 Per Barrel

Crude oil prices climbed toward $50 a barrel on Wednesday after a refinery glitch in the United States rekindled worries about gasoline supplies ahead of the start of the American summer driving season.
================================================
Vote for me and I will put an end to this endless line of Bullsh!t

 

[dmcowen674]

End of the Industrial Age

5-28-2005 Experts: Petroleum May Be Nearing a Peak

They predict that this year, maybe next ? almost certainly by the end of the decade ? the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline.

And then it really will be all downhill. The price of oil will increase drastically. Major oil-consuming countries will experience crippling inflation, unemployment and economic instability. Princeton University geologist Kenneth S. Deffeyes predicts "a permanent state of oil shortage."

Prices will rise dramatically and become increasingly volatile.

With little or no excess production capacity, minor supply disruptions ? political instability in Venezuela, hurricanes in the Gulf of Mexico or labor unrest in Nigeria, for example ? will send the oil markets into a tizzy.

So will periodic admissions by oil companies and petroleum-rich nations that they have been overestimating their reserves.

Oil producers will grow flush with cash. And because the price of oil ultimately affects the cost of just about everything else in the economy, inflation will rear its ugly head.

Anybody who has been paying close attention to the news lately may feel a bit queasy at this stage. Could $5-a-gallon gas be right around the corner?

The pessimism stems from a legendary episode in the history of petroleum geology. Back in 1956, a geologist named M. King Hubbert predicted that U.S. oil production would peak in 1970.

His superiors at Shell Oil were aghast. They even tried to persuade Hubbert not to speak publicly about his work. His peers, accustomed to decades of making impressive oil discoveries, were skeptical.

But Hubbert was right. U.S. oil production did peak in 1970, and it has declined steadily ever since.

A few years ago, geologists began applying Hubbert's methods to the entire world's oil production. Their analyses indicated that global oil production would peak some time during the first decade of the 21st century.

Deffeyes thinks the peak will be in late 2005 or early 2006. Houston investment banker Matthew Simmons puts it at 2007 to 2009. California Institute of Technology physicist David Goodstein, whose book "The End of Oil" was published last year, predicts it will arrive before 2010.

The exact date doesn't really matter, said Hirsch, because he believes it's already too late.

 

[Zebo]

Dave you really love doomsday senarios...former branch davidian? Anyway read the whole article not just the worst:

This is just silly," said Michael Lynch, president of Strategic Energy and Economic Research in Winchester, Mass. "It's not like industrial civilization is going to come crashing down."

Though gas prices are up, they are expected to remain below $2.50 a gallon. Accounting for inflation, that's pretty comparable to what motorists paid for most of the 20th century; it only feels expensive because gasoline was unusually cheap between 1986 and 2003.

etc etc etc

My advice if it really concerns you is become totally self suffceint. Get acreage (5-10), septic, a solar well, oxen, plows, weapons, etc where you could hole up oblivious to outside world... the Amish been done it for 250 years.

 

[WhipperSnapper]

Hopefully the increasing scarcity of petroleum and its increasing cost will encourage Americans to seriously begin work on finding new ways to power and propel vehicles. It is kind of sad when you think about it--we are still using the same technology--brute combustion--that was used 100 years ago. I think the hybrid vehicle technology is great since that could reduce the need for oil some. Hopefully we'll find a way to make fuel cell technology work. We might need to get over our fear of nuclear energy at some point and build modern reactors.

Of course, one of the big issues beneath the surface that no one dares to mention or address is our nation's increasing population. A higher population means that our cities sprawl further and further out, increasing commuting distances and traffic congestion. [That doesn't even consider the environmental issues.] I am a huge believer in the notion that population needs to either grow slowly or not at all in order for us to maintain our quality of life. (In the ten years of 1990-2000, according to the Census Bureau our nation suffered a gain of 32.7 million people, at least a 12% increase, and that only counts legal residents and not illegal aliens. At that rate we will have a population of 450 million by 2050, assuming no compounding growth and ignoring an illegal alien invasion.)

 

[kleinwl]

I think one of the things that needs to be done to reduce the nations dependence on oil is to limit the amount of oil consumed by each consumer. Since over 50% of oil is used in transportation a significant investment in public transportation needs to be made to eliminate (or limit) the need for cars. The US is designed for cars and they are so much a part of our society that public transportation (and intercity transport) is a joke. No one takes Amtrack, because the cost of air flights are as cheap (though the consumption of oil is much higher). Equally so with cars. In California it would take me 3 hours to travel 22mi (to work/home) using the bus (there are no subways/trains around me). This is ridiculious... I would happily ride the bus if it was even close to the same time in travel (30min - 1 hour). Of well... another gallon of gas consumed each way.

Rather than wasting resources worring about electricity (which is mostly powered by coal) or even car efficency (even though diesel would massively increase the MPG of any car... and at much lower cost than hybrid)... we need to worry about our transportation infastructure... high speed trains / public transportation / bulk trains to reduce our dependce on oil.

 

[alent1234]

Originally posted by: dmcowen674
End of the Industrial Age

5-28-2005 Experts: Petroleum May Be Nearing a Peak

They predict that this year, maybe next ? almost certainly by the end of the decade ? the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline.

And then it really will be all downhill. The price of oil will increase drastically. Major oil-consuming countries will experience crippling inflation, unemployment and economic instability. Princeton University geologist Kenneth S. Deffeyes predicts "a permanent state of oil shortage."

Prices will rise dramatically and become increasingly volatile.

With little or no excess production capacity, minor supply disruptions ? political instability in Venezuela, hurricanes in the Gulf of Mexico or labor unrest in Nigeria, for example ? will send the oil markets into a tizzy.

So will periodic admissions by oil companies and petroleum-rich nations that they have been overestimating their reserves.

Oil producers will grow flush with cash. And because the price of oil ultimately affects the cost of just about everything else in the economy, inflation will rear its ugly head.

Anybody who has been paying close attention to the news lately may feel a bit queasy at this stage. Could $5-a-gallon gas be right around the corner?

The pessimism stems from a legendary episode in the history of petroleum geology. Back in 1956, a geologist named M. King Hubbert predicted that U.S. oil production would peak in 1970.

His superiors at Shell Oil were aghast. They even tried to persuade Hubbert not to speak publicly about his work. His peers, accustomed to decades of making impressive oil discoveries, were skeptical.

But Hubbert was right. U.S. oil production did peak in 1970, and it has declined steadily ever since.

A few years ago, geologists began applying Hubbert's methods to the entire world's oil production. Their analyses indicated that global oil production would peak some time during the first decade of the 21st century.

Deffeyes thinks the peak will be in late 2005 or early 2006. Houston investment banker Matthew Simmons puts it at 2007 to 2009. California Institute of Technology physicist David Goodstein, whose book "The End of Oil" was published last year, predicts it will arrive before 2010.

The exact date doesn't really matter, said Hirsch, because he believes it's already too late.

you should google for the story that a huge oil field may have just been found in Utah. The find is rumored to be bigger than Saudi Arabia. There are also rumors that there is a lot of oil in the rockies.

 

[dmcowen674]

Originally posted by: alent1234

you should google for the story that a huge oil field may have just been found in Utah. The find is rumored to be bigger than Saudi Arabia. There are also rumors that there is a lot of oil in the rockies.

That's been covered here. Turned out to be a very small find.

 

[OS]

Originally posted by: Zebo
Dave you really love doomsday senarios...former branch davidian? Anyway read the whole article not just the worst:

This is just silly," said Michael Lynch, president of Strategic Energy and Economic Research in Winchester, Mass. "It's not like industrial civilization is going to come crashing down."

Though gas prices are up, they are expected to remain below $2.50 a gallon. Accounting for inflation, that's pretty comparable to what motorists paid for most of the 20th century; it only feels expensive because gasoline was unusually cheap between 1986 and 2003.

etc etc etc

My advice if it really concerns you is become totally self suffceint. Get acreage (5-10), septic, a solar well, oxen, plows, weapons, etc where you could hole up oblivious to outside world... the Amish been done it for 250 years.

property tax pwns j00

 

[OS]

Originally posted by: alent1234

Originally posted by: dmcowen674
End of the Industrial Age

5-28-2005 Experts: Petroleum May Be Nearing a Peak

They predict that this year, maybe next ? almost certainly by the end of the decade ? the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline.

And then it really will be all downhill. The price of oil will increase drastically. Major oil-consuming countries will experience crippling inflation, unemployment and economic instability. Princeton University geologist Kenneth S. Deffeyes predicts "a permanent state of oil shortage."

Prices will rise dramatically and become increasingly volatile.

With little or no excess production capacity, minor supply disruptions ? political instability in Venezuela, hurricanes in the Gulf of Mexico or labor unrest in Nigeria, for example ? will send the oil markets into a tizzy.

So will periodic admissions by oil companies and petroleum-rich nations that they have been overestimating their reserves.

Oil producers will grow flush with cash. And because the price of oil ultimately affects the cost of just about everything else in the economy, inflation will rear its ugly head.

Anybody who has been paying close attention to the news lately may feel a bit queasy at this stage. Could $5-a-gallon gas be right around the corner?

The pessimism stems from a legendary episode in the history of petroleum geology. Back in 1956, a geologist named M. King Hubbert predicted that U.S. oil production would peak in 1970.

His superiors at Shell Oil were aghast. They even tried to persuade Hubbert not to speak publicly about his work. His peers, accustomed to decades of making impressive oil discoveries, were skeptical.

But Hubbert was right. U.S. oil production did peak in 1970, and it has declined steadily ever since.

A few years ago, geologists began applying Hubbert's methods to the entire world's oil production. Their analyses indicated that global oil production would peak some time during the first decade of the 21st century.

Deffeyes thinks the peak will be in late 2005 or early 2006. Houston investment banker Matthew Simmons puts it at 2007 to 2009. California Institute of Technology physicist David Goodstein, whose book "The End of Oil" was published last year, predicts it will arrive before 2010.

The exact date doesn't really matter, said Hirsch, because he believes it's already too late.

you should google for the story that a huge oil field may have just been found in Utah. The find is rumored to be bigger than Saudi Arabia. There are also rumors that there is a lot of oil in the rockies.

lol, bigger than saudi arabia. I have a couple bridges to sell to you if you seriously believe that.

 

[Duckzilla]

"Oil:5-28-05 Experts say Oil has peaked and is gone, End of the Industrial Age is here, Global Economy to collaspe"

dmcowen674, you've always been the optomist. Whatever it takes to get through the day, right?

It would take a nuclear war or a space threat before we see the "End of the Industrial Age."

Flowers are good, think flowers.

 

[WhipperSnapper]

Originally posted by: kleinwl
I think one of the things that needs to be done to reduce the nations dependence on oil is to limit the amount of oil consumed by each consumer. Since over 50% of oil is used in transportation a significant investment in public transportation needs to be made to eliminate (or limit) the need for cars. The US is designed for cars and they are so much a part of our society that public transportation (and intercity transport) is a joke. No one takes Amtrack, because the cost of air flights are as cheap (though the consumption of oil is much higher). Equally so with cars. In California it would take me 3 hours to travel 22mi (to work/home) using the bus (there are no subways/trains around me). This is ridiculious... I would happily ride the bus if it was even close to the same time in travel (30min - 1 hour). Of well... another gallon of gas consumed each way.

Rather than wasting resources worring about electricity (which is mostly powered by coal) or even car efficency (even though diesel would massively increase the MPG of any car... and at much lower cost than hybrid)... we need to worry about our transportation infastructure... high speed trains / public transportation / bulk trains to reduce our dependce on oil.

I'd much prefer for us to find a viable alternative to fossil fuels as opposed to losing our freedom to travel at will because it would be a massive loss. It would be a loss of freedom and of quality of life.

Of course, part of the solution to resource usage is to prevent overpopulation, but no one wants to touch that elephant in the living room.

It's laughable when the altruist environmentalists say they support a clean environment and then purposely ignore issues like mass immigration and population growth. What good is getting Americans to reduce the burden they place on the environment by 20% per capita if the population increases by 50% (net increase in environmental costs).

 

[beer]

Originally posted by: Duckzilla
"Oil:5-28-05 Experts say Oil has peaked and is gone, End of the Industrial Age is here, Global Economy to collaspe"

dmcowen674, you've always been the optomist. Whatever it takes to get through the day, right?

It would take a nuclear war or a space threat before we see the "End of the Industrial Age."

Flowers are good, think flowers.

Dave is a fan of FUD - too bad that he takes everything to such an extreme that he comes off like a raving lunatic on a street corner, hopped up on acid and saying the end of the world is near.

 

[dmcowen674]

Oil back to $52 barrel.

 

[Train]

Originally posted by: Mursilis

Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though

The fed. gov't should just raise the gas tax until a gallon hits the $3 level (can't believe I'm saying that). The only way to encourage conservation and to lessen oil dependence is to direct market forces in other directions.

The only problem is that Gas is most americans LEAST expendable neccesity. We are too dependent on it. I'd bet most people could cut more money out of thier monthly food bill than thier monthly gasoline bill. I drive almost exclusively to work, and hit stores along the way for most of my shopping needs. With the exception of just plain staying home all weekend, theres almost nothing I can do to lower my gasoline price any more.

Businesses are even more dependent on it. All the products that come to your local store are brought there by trucks, if thier gasoline goes up, so does the price of every product they carry. Everything is invariably tied to the price of gasoline. If you raise the price of gas, you raise the price of everything, its basically instant inflation.