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

[Engineer]

http://news.yahoo.com/s/ap/20050807/ap_on_bi_ge/kuwait_opec_oil

 

[Stunt]

Engineer, the only oil coming online (OPEC) at the moment is sour Saudi crude. Refineries have a tough time handling it, I doubt this will have any effect on the price of oil.

The Oil prices displayed in the news is for sweet gold crude produced by the likes of Talisman. Saudi's oil goes for half that price...it's just too costly from an output perspective to really become a short term fix.

I guess it keeps the masses quiet...oh well.
I'm happy oil is rising and I can't wait to get my first pay check to get into a few oil and gas plays on the market.

 

[Engineer]

Originally posted by: Stunt
Engineer, the only oil coming online (OPEC) at the moment is sour Saudi crude. Refineries have a tough time handling it, I doubt this will have any effect on the price of oil.

The Oil prices displayed in the news is for sweet gold crude produced by the likes of Talisman. Saudi's oil goes for half that price...it's just too costly from an output perspective to really become a short term fix.

I guess it keeps the masses quiet...oh well.
I'm happy oil is rising and I can't wait to get my first pay check to get into a few oil and gas plays on the market.

I didn't think it would help, just posted FYI.

Seems refining is more of a problem in this country than supply of oil.

 

[Stunt]

It is. There's just way too much sulphur in the Saudi crude, that's not the fault of anyone; not the oil companies and not the middle east. Refinery capacity is going to need to be increased to accomodate the abundant sour crude, i have no idea when/if that is planned.

A lot of capacity is coming online in canada where we have some sweet crude, low processing costs, but commands a higher price (closer to the oil prices you see in the news). Not enough to keep up with demand I am afraid...

 

[charrison]

Originally posted by: Stunt
It is. There's just way too much sulphur in the Saudi crude, that's not the fault of anyone; not the oil companies and not the middle east. Refinery capacity is going to need to be increased to accomodate the abundant sour crude, i have no idea when/if that is planned.

A lot of capacity is coming online in canada where we have some sweet crude, low processing costs, but commands a higher price (closer to the oil prices you see in the news). Not enough to keep up with demand I am afraid...

Invest in Valero. They have made quite a bit of investment in processing sour crude.

 

[Stunt]

I've been focusing on the Canadian Energy Stocks.

Talisman for international sweet crude.
Encana for natural gas.
Petro-Can for oil and refining.
Transcanada Pipe for pipelines and distrobution.
UTS for oil sands development.

I'll take a look at Valero; they look fairly high priced, I'll see what their holdings, forcast and multiples look like.

 

[Stunt]

Valero looks expensive...they seem to have mostly distrobution (gas stations) and refining operations; this inflates asset base. This is unlike encana, petro and talisman where they have large (many times larger assets) assets because of natural gas and oil reserves. Lots of production is not included in the earnings yet as they are still growth companies and drilling.

While Canadian companies have a higher P/E multiple, the assets for Encana are 30+ billion, Valero has 19b and most of that is distrobution.

I perfer to invest in stocks with reserves, accessable to drilling, piping contract connections and good governance.

Valero looks more like a Shell, Chevron, Exxon...but over-priced with the most recent run-up.

 

[zendari]

Originally posted by: dmcowen674
I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

$120 of gas a week?

Looks to me Dave like you are a gas guzzling rich oil baron. How can you claim to be a President for the people?

 

[Engineer]

Originally posted by: zendari

Originally posted by: dmcowen674
I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

$120 of gas a week?

Looks to me Dave like you are a gas guzzling rich oil baron. How can you claim to be a President for the people?

Why not? The current president is exactly the above.

P.S. I know people who drive cars that average 30 mpg and they use nearly that much gas per week because they drive in excess of 100 miles each way per day 6 days a week just to get to work.

 

[Stunt]

Originally posted by: zendari

Originally posted by: dmcowen674
I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

$120 of gas a week?

Looks to me Dave like you are a gas guzzling rich oil baron. How can you claim to be a President for the people?

I'm pretty sure "the people" have to pay that much too.

 

[dmcowen674]

Originally posted by: Engineer

Originally posted by: zendari

Originally posted by: dmcowen674
I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

$120 of gas a week?

Looks to me Dave like you are a gas guzzling rich oil baron. How can you claim to be a President for the people?

Why not? The current president is exactly the above.

P.S. I know people who drive cars that average 30 mpg and they use nearly that much gas per week because they drive in excess of 100 miles each way per day 6 days a week just to get to work.

Yep, spend more than an hr each way to get to work and most days I have to cross back and forth twice.

So thats almost 240 miles and 5 hrs commute time alone in one day, when on call have to that for 7 days straight.

The current president doesn't do this, he takes months off at a time.

 

[Stunt]

That commute is nasty!

I'm liking the 5min drive to work for me 🙂
My car gets 40mpg too.

 

[dmcowen674]

Originally posted by: Stunt
That commute is nasty!

I'm liking the 5min drive to work for me 🙂
My car gets 40mpg too.

Kudos on the 40 mpg car, what is it???

The alternative would be to actually live on the other side in the city of New Orleans itself where there is at least 6 killings a night.

No thank you

 

[Stunt]

Honda Civic, Std Transmission.
This is it

 

[Stunt]

Actually my specific car is 32/39 city/hwy.
The new 2k5's are 36/44

 

[3chordcharlie]

Originally posted by: Stunt
Actually my specific car is 32/39 city/hwy.
The new 2k5's are 36/44

How very honest of you to quote the mileage in fake gallons😉

(i.e. US gallons)

 

[Stunt]

I could use Litres per Kilometer...but we'd get a bunch of dumb americans scratching their heads (maybe with the exception of Engineer) :laugh:

 

[Engineer]

Originally posted by: Stunt
I could use Litres per Kilometer...but we'd get a bunch of dumb americans scratching their heads (maybe with the exception of Engineer) :laugh:

Do you actually quote it in "Litres per Kilometer" or is it "Kilometers per Litre"?

😉

P.S. I have to convert it just like the rest of us dumb Americans! 😛

 

[Stunt]

It's actually Litres per 100km.
Chew on that 😉

 

[3chordcharlie]

Originally posted by: Engineer

Originally posted by: Stunt
I could use Litres per Kilometer...but we'd get a bunch of dumb americans scratching their heads (maybe with the exception of Engineer) :laugh:

Do you actually quote it in "Litres per Kilometer" or is it "Kilometers per Litre"?

😉

P.S. I have to convert it just like the rest of us dumb Americans! 😛

Liters per 100km, with 10L/100km being fairly similar to 24mpg (american gallons).

When companies quote mpg in Canada, they naturally use imperial gallons (~4.4L vs 3.8L for a US gallon). So 10L/100km would be 27-28mpg in a Canadian car ad.

 

[Engineer]

<--- Scratching head! 😕

😛

😉

 

[3chordcharlie]

Originally posted by: Engineer
<--- Scratching head! 😕

😛

😉

hahaha

 

[zendari]

Originally posted by: dmcowen674

Originally posted by: Engineer

Originally posted by: zendari

Originally posted by: dmcowen674
I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

$120 of gas a week?

Looks to me Dave like you are a gas guzzling rich oil baron. How can you claim to be a President for the people?

Why not? The current president is exactly the above.

P.S. I know people who drive cars that average 30 mpg and they use nearly that much gas per week because they drive in excess of 100 miles each way per day 6 days a week just to get to work.

Yep, spend more than an hr each way to get to work and most days I have to cross back and forth twice.

So thats almost 240 miles and 5 hrs commute time alone in one day, when on call have to that for 7 days straight.

The current president doesn't do this, he takes months off at a time.

Why do you go back and forth to work twice, and why drive a gasmobile?

The people drive Civics and commute maybe 30 mins to work 1 time. $120 is more than most monthy gas budgets.

 

[Engineer]

Originally posted by: zendari

Originally posted by: dmcowen674

Originally posted by: Engineer

Originally posted by: zendari

Originally posted by: dmcowen674
I'll look around for a foreign car with no bells and whistles.

Hvae to see how much the wiper failure is going to set me back with the Van first.

$120 of gas a week?

Looks to me Dave like you are a gas guzzling rich oil baron. How can you claim to be a President for the people?

Why not? The current president is exactly the above.

P.S. I know people who drive cars that average 30 mpg and they use nearly that much gas per week because they drive in excess of 100 miles each way per day 6 days a week just to get to work.

Yep, spend more than an hr each way to get to work and most days I have to cross back and forth twice.

So thats almost 240 miles and 5 hrs commute time alone in one day, when on call have to that for 7 days straight.

The current president doesn't do this, he takes months off at a time.

Why do you go back and forth to work twice, and why drive a gasmobile?

The people drive Civics and commute maybe 30 mins to work 1 time. $120 is more than most monthy gas budgets.

$120 more than most monthly gas budgets? I highly doubt that. You can easily eat $120 up per month in modest driving with a car that averages 30 mpg. That averages out to 52 gallons +- at $2.30 per gallon. 1.75 gallons per day. Not really much to the average commutor.

 

[zendari]

Maybe you should live closer to your work if you need to use 50+ miles per day on your vehicle.