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Sweet, sweet Oil

  • #141
  • Jun 15, 2008 7:01pm Jun 15, 2008 7:01pm
thanks blunderbuss.
that was a lot of information


http://pixdaus.com/pics/1213582682976sqYs.jpg
  • #142
  • Jun 15, 2008 9:23pm Jun 15, 2008 9:23pm
LOL they can't even get rid of the snow and ice in Buffalo until May each year.
  • #143
  • Jun 16, 2008 3:29pm Jun 16, 2008 3:29pm
look at this
http://www.ls9.com/images/header_technology.gif
http://www.ls9.com/technology/
  • #144
  • Jun 16, 2008 9:57pm Jun 16, 2008 9:57pm
Quoting blunderbuss
I just read an article about how Toyota is designing "carbon neutral" vehicles that will run on,among other things, wood chips.
(This is of great importance, considering that a run on biofuels has led to food riots in poor countries because corn and other crops
that would have been used to feed people is now too expensive for the masses.)

Toyota promises plug-in hybrid vehicle by 2010

More:

http://www.google.com/search?hl=en&n...neutral+toyota+
I am not talking about Corn, poppyseed, vegetable oils of all kinds. I agree that we should not touch vegetable oils that could be used to feed us animals. I am talking about methane fuel that naturally accumulated underneath landfills all over the world.
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  • #145
  • Jun 16, 2008 10:40pm Jun 16, 2008 10:40pm
Or on pig "factory" farms. Phew.
  • #146
  • Jun 17, 2008 8:35am Jun 17, 2008 8:35am
Quoting SunTrader
Or on pig "factory" farms. Phew.
Wow, the Mad Max movies weren't too far off the mark.
  • #147
  • Jun 19, 2008 12:19pm Jun 19, 2008 12:19pm
http://www.latimes.com/news/nationwo...,3704692.story
  • #148
  • Jun 19, 2008 12:45pm Jun 19, 2008 12:45pm
As long as these governments (especially China) continue to subsidize fuel prices at these levels, the large increases in oil prices will not be felt by their consumers, therefore no need to conserve. About 75% of a barrel is used for gasoline. Now that we live amongst a competitive global economy, until the playing field is level, there will be continued high demand from the fastest and largest growing industrialized nation. These subsidies are "fueling" the problem.
Attached Image
  • #149
  • Jun 20, 2008 6:54am Jun 20, 2008 6:54am
http://money.cnn.com/2008/06/19/news...ex.htm?cnn=yes

In short, the Saudis are calling a meeting on Sunday with other OPEC countries, oil refiners, and oil consumers. The topic will be, of course, the high oil prices and what can be done about them. It's mostly speculative at this point, but it is believed they will pump more oil as well as convince refiners, who have been buying less oil with the high prices, to begin buying oil again at previous levels.

This will come at a cost, especially to the US. The Saudis are firmly believed that there is no oil supply problem and that high prices are due to oil market speculation. It is likely they will call for the US to enact measures to limit oil speculation in the market. Additionally, Riyadh will probably push for a monetary police change that will strengthen the dollar, as the riyal (Saudis currency) is pegged to the USD and has doubled in inflation over the last year.

Who knows what actually will happen and, in all likelihood, if any deal is made then most of the details will remain undisclosed.
  • #150
  • Jun 21, 2008 12:08pm Jun 21, 2008 12:08pm
Oil, oil everywhere? Well, just maybe


http://multimedia.thestar.com/images...7f3e25ff8.jpeg SHUTTERSTOCK
An oil drilling platform is seen in this file image.






An English industry insider says we've grossly underestimated our reserves. Could he be right?

http://www.thestar.com/News/article/447057
  • #151
  • Jun 22, 2008 10:03am Jun 22, 2008 10:03am
Quoting thegunslinger
http://money.cnn.com/2008/06/19/news...ex.htm?cnn=yes

In short, the Saudis are calling a meeting on Sunday with other OPEC countries, oil refiners, and oil consumers. The topic will be, of course, the high oil prices and what can be done about them. It's mostly speculative at this point, but it is believed they will pump more oil as well as convince refiners, who have been buying less oil with the high prices, to begin buying oil again at previous levels.

This will come at a cost, especially to the US. The Saudis are firmly believed that there is no oil supply problem and that high prices are due to oil market speculation. It is likely they will call for the US to enact measures to limit oil speculation in the market. Additionally, Riyadh will probably push for a monetary police change that will strengthen the dollar, as the riyal (Saudis currency) is pegged to the USD and has doubled in inflation over the last year.

Who knows what actually will happen and, in all likelihood, if any deal is made then most of the details will remain undisclosed.
Hmmmm... very interesting. Thanks for the link.
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  • #152
  • Jun 22, 2008 10:05am Jun 22, 2008 10:05am
http://www.bloomberg.com/apps/news?p...Z2I&refer=home
  • #153
  • Jun 23, 2008 8:57am Jun 23, 2008 8:57am
Quoting emda
http://www.bloomberg.com/apps/news?p...Z2I&refer=home
From the above link: OPEC does not believe supply is the problem; they have stated their supply is adequate for demand:

Quote
OPEC itself is divided. While Saudi Arabia is boosting output, other OPEC members including Libya, Algeria, Iran, Venezuela and Qatar are opposed to higher production, saying refiners aren't asking for more crude.

Libya's top oil official, Shokri Ghanem, said after the meeting ended that the Saudi output boost wouldn't affect the oil price, and yesterday said his country may have to cut its own production in response to the Saudi move.

Venezuelan Oil Minister Rafael Ramirez, also asked whether the oil price was likely to fall after the Saudi move, said: ``I don't think so because it's not a problem of supply.''

So what is the problem? The price of oil is a reflection of the instability in the Middle East.

My forex book tells me that the value of a currency is determined by four features, I,I,I, PS -- interest rates, international trade, inflation and political stability (i.e., avoid the Zimbabwean currency at all costs). What could be more destabilizing for a commodity than a pair of wars and the threat of a third?

Quote
Not long ago the price of oil was about a quarter of what it is today. But soon after the invasions of Afghanistan and Iraq the price of oil began to escalate in tandem with the escalation of war and political turbulence in the Middle East. The fact that the rise in the price of oil has followed the heightened insecurity in oil markets is neither accidental nor a simple correlation; it represents a causality that runs from the heightened insecurity in oil markets to the inflated price of energy.

The war also contributes to the escalation of fuel cost in indirect ways; for example, by plunging the U.S. ever deeper into debt and depreciating the dollar. As oil is priced largely in U.S. dollars, oil exporting countries ask for more dollars per barrel of oil as the dollar loses value.

Not only are the raging wars in the Middle East responsible for energy price inflation, they are also responsible for price inflation of many other commodities, especially grains and other foodstuff, whose production and transportation depend on fuel. According to the World Bank, food prices have more than doubled over the past three years. The price of rice, the staple for billions of Asians, is up 147% over the past year alone. The mounting food prices have caused hunger and deadly violence in many countries, including Haiti, Egypt, Thailand, Indonesia, Senegal, and Malaysia.

This shows that the disastrous consequences of U.S. wars of choice go beyond Iraq, Afghanistan, and the United States....

Neoconservative forces in and around the Bush administration and beneficiaries of war dividends—wishing to deflect attention away from war as the main culprit for the skyrocketing energy prices—tend to blame secondary or marginally relevant factors: OPEC, China and India for their increased demand for energy, or supply-demand imbalances in global markets.

Whatever the contributory role of these factors, the fact remains that the current oil price hikes started with the beginning of the Bush administration’s wars against Iraq and Afghanistan... [read more]
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #154
  • Jun 23, 2008 9:01am Jun 23, 2008 9:01am
Interesting but useless.
  • #155
  • Jun 23, 2008 10:16am Jun 23, 2008 10:16am
Quoting Northpro
As long as these governments (especially China) continue to subsidize fuel prices at these levels, the large increases in oil prices will not be felt by their consumers, therefore no need to conserve. About 75% of a barrel is used for gasoline. Now that we live amongst a competitive global economy, until the playing field is level, there will be continued high demand from the fastest and largest growing industrialized nation. These subsidies are "fueling" the problem.
Unfortunately, without those subsidies in Indo (where I visit regularly and where a friend of mine has lived for years), countless thousands of taxi drivers couldn't make a living if they raised the price of fuel (or removed the subsidy) -- there would be riots, like the riots of 12 May 98 that left over 1,000 people dead.

I recall reading somewhere that Indonesia was considering NOT exporting oil for this year, which will contribute to the problem for the rest of us...
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #156
  • Jun 23, 2008 7:06pm Jun 23, 2008 7:06pm
Well once the oil runs dry so will the subsidies. Then what will they do?

Maybe if they didn't subsidize it, they would export more and therefore earn more foreign currency to convert into wealth for the country. Which then might provide for more productive jobs for the cabdrivers.
  • #157
  • Jun 23, 2008 8:34pm Jun 23, 2008 8:34pm
I believe that the high cost of oil is mostly due to the unstable regions that produce oil. I also believe that the reserves while not infinite, are more vast than most of us realize. Here is some food for thought on how vast our resources are here on planet earth. I grew up in a small town where we for over 40 years produced magnesium from seawater (Dow Chemical Co). Most of the early magnesium ingot production was shipped to England for aircraft production in WWII. The mag cells were closed and torn down somewhere around 1996. The estimates that were published stated that over the life span of the production of magnesium, the plant brought in a volume equivalent of a water depth of 90 feet and 4 square miles of the Gulf of Mexico to produce mag.
  • #158
  • Jun 25, 2008 2:59am Jun 25, 2008 2:59am
my forecast on oil
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Click to Enlarge Name: OIL.gif Size: 17 KB
  • #159
  • Jun 25, 2008 6:33pm Jun 25, 2008 6:33pm
it is very good that oil is so high.. and it would be better if it goes to 200 and more...
that would solve amny things in our world...

why?

maybe you are thinking I'm crazy... no...

if oil is so expensive.. then other types of energy such as hydrogen.. will be used. The only reason to keep using oil before was that it was cheaper... not now... so.. prepare for the change... bye bye oil... bye bye smoke... bye bye noise... welcome to the future.
  • #160
  • Jun 25, 2008 6:57pm Jun 25, 2008 6:57pm
Oil has been expensive at different times in the past and come back down.

Obviously oil is probably not going to return to levels from a year or two ago.

It doesn't have to though to make other energy sources stay expensive.
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