Oil Blows Past Record ($76+ per Barrel) (598 hits)
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Submitted by The Known Unknown (View user info) at 2006-07-13 12:25:20 EDT
Regarding - Oil blows past record
http://money.cnn.com/2006/07/13/markets/oil.reut/index.htm?cnn=yes
Well, the wheels of power are turning once again. I'm not sure how the prices are in other countries at the moment, but it is starting to get ridiculous once again in the grand old USA. Oil stocks $76.40 in the "first minutes of trading"! I'm not sure which geniuses are left in charge of this crap, but they need to be executed, in public!
From some research that I have done, I've come to my personal conclusion that the USA could support over 3\4th of its oil needs from the Gulf of Mexico. Disagree with me? Before you do please check out the 5 links I've listed, then do a search on Google about oil in the Gulf of Mexico, you'll find it is one of the greatest source of oil on this planet.
So you're wondering, where does all the oil we get there go? Exports, Exports and more Exports! It is much more profitable for the oil companies to export the oil they drill then for domestic use, or so I've guessed. I could be wrong, but I think we are all being ripped off left and right. I'm sure if any other countries are having oil prices surging you can thank the USA for that, and I apologize to you for the stupid people we have elected.
What's your opinion on this all? Do you think the oil companies domestic and foreign are talking the planet for a ride? Do you think alterative sources of fuel are already accessible and just being suppressed by the oil companies? Can't wait to see your opinions on this one.
Link #1 - http://www.scienceblog.com/community/older/2003/D/20031974.html
Link #2 - http://www.spe.org/spe/jsp/basic/0,,1104_1008218_1109511,00.html
Link #3 - http://www.humaneventsonline.com/article.php?id=13380
Link #4 - http://www.answers.com/topic/gulf-of-mexico
Link #5 - http://www.ocsbbs.com/
User Reviews
Submitted by RenTheUnsightly (user info) at 2006-07-14 02:32:31 EDT (#)
Ranking: 0
aghh, god yeah...even I, the flag-burning prick, am intimidated by trying to understand the oil game
Submitted by joedaddy (user info) at 2006-07-13 18:34:53 EDT (#)
Ranking: 0
did i just hear one of lee raymond's balls squeek?
Submitted by Shlongy (user info) at 2006-07-13 18:04:17 EDT (#)
Ranking: -2
No...really. Shut up.
I know what a barrel of oil costs...I can read.
Submitted by marginwalker (user info) at 2006-07-13 17:49:32 EDT (#)
Ranking: 0
Submitted by laika (user info) at 2006-07-13 16:10:45 (#)
Ranking: -2
the US imports over 60 percent of its oil, and only
about 15 percent of that comes from mexico.
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Absolutely correct.
Submitted by Ingsoc (user info) at 2006-07-13 17:26:13 EDT (#)
Ranking: -2
"Here is the news. That is, look at this link and now read my opinion of it. Uh-huh. I'm informing you. Also, you want to hear what I have to say. I am very important on this, the Internet!"
Fuck off.
Submitted by GDR (user info) at 2006-07-13 17:11:04 EDT (#)
Ranking: 0
Submitted by Shlongy (user info) at 2006-07-13 16:58:03 (#)
Ranking: -2
My opinion on this is get the fuck out of Uber with this shit and go track down Anderson Cooper at CNN.com.
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Or not.
Submitted by Shlongy (user info) at 2006-07-13 16:58:03 EDT (#)
Ranking: -2
My opinion on this is get the fuck out of Uber with this shit and go track down Anderson Cooper at CNN.com.
Submitted by laika (user info) at 2006-07-13 16:46:06 EDT (#)
Ranking: 0
You should learn to do this thing called "read". Then you have to "understand" what you have "read". Then make comments, untill them fuck you and the horse you attempted to ride in on. Considering we DO drill in the "GULF" of Mexico, actually your not even worth the explanation.
rather ironic since your reply showed that you could not have read what i said.
did i state anywhere that we did not drill in the gulf of mexico?
obviously not.
if you want me to explain any of my comments i will, but given your astounding lack
of comprehension and hostility, i doubt it will be productive.
Submitted by GDR (user info) at 2006-07-13 16:32:34 EDT (#)
Ranking: 0
Everything you ever wanted to know about laika
User id: 25284
Registered on or around: 2006-02-15 23:27:38
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Submitted by laika (user info) at 2006-07-13 16:10:45 (#)
Ranking: -2
you have absolutely no idea what you are talking about.
jerome corsi might be the least reliable source ever, among
other things.
the US imports over 60 percent of its oil, and only
about 15 percent of that comes from mexico.
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html
since mexican production is going to peak soon, we wont be able to import
any more from them either.
go to energybulletin.net
or www.theoildrum.com and read for a few days before you bother to try to
post anything about energy again.
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You should learn to do this thing called "read". Then you have to "understand" what you have "read". Then make comments, untill them fuck you and the horse you attempted to ride in on. Considering we DO drill in the "GULF" of Mexico, actually your not even worth the explanation.
Submitted by laika (user info) at 2006-07-13 16:10:45 EDT (#)
Ranking: -2
you have absolutely no idea what you are talking about.
jerome corsi might be the least reliable source ever, among
other things.
the US imports over 60 percent of its oil, and only
about 15 percent of that comes from mexico.
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html
since mexican production is going to peak soon, we wont be able to import
any more from them either.
go to energybulletin.net
or www.theoildrum.com and read for a few days before you bother to try to
post anything about energy again.
Submitted by JonnyX (user info) at 2006-07-13 15:57:49 EDT (#)
Ranking: 0
Steven Durel Lite
Submitted by GDR (user info) at 2006-07-13 13:53:07 EDT (#)
Ranking: 0
Submitted by marginwalker (user info) at 2006-07-13 13:40:33 (#)
Ranking: 2
I REALLY REALLY think you should read this report:
http://www.ualberta.ca/PARKLAND/research/studies/Fuelling%20Fortress%20America%20WEB.pdf
It's based out of an Alberta "think tank" - and Alberta, as you know, supplies the US with MOST of their oil needs. I know you'll enjoy it.
It's chalk full of info on US's oil production/consumption, inclusive of information about projected import rates, and Bush's "Strategic Petroleum Reserve" - which is a program mandating they have a reserve of 1 billion barrels in reserve at all times - theoretically giving the states 69 days of Import Protection.
The reserves consist of 62 salt caverns located on the Lousiana and Texas coasts of the Gulf Of Mexico.
*(I think ETS should add that to his list of ways to bring down the American Empire. That would surely cause some damage.)
Anyway - the US thirst for oil is unquenchable. They currently import OVER 13.2 billion barrels/day. This is projected to increase to 18.5 by 2020 = more than China and India's current consumption combined.
Believe me - it's disgusting. Canada is now IMPORTING 500,000 barrels a day to meet our own needs, because under NAFTA stipulations, we cannot decrease our level of exports regardless of whether of not our own consumption levels are met.
The scariest part??? Global peak production is forecasted for approx. 2008. Countries worldwide are becoming more and more dependent on oil - China, India, and the US especially.
The global economy is simply unsustainable.
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Very interesting Article.
Submitted by marginwalker (user info) at 2006-07-13 13:46:20 EDT (#)
Ranking: 0
BUT Buckeye - Coal lends itself to higher levels of Greenhouse gas emissions, the effects of which are already an imminent threat to ecological sustenance.
Submitted by marginwalker (user info) at 2006-07-13 13:40:33 EDT (#)
Ranking: 2
I REALLY REALLY think you should read this report:
http://www.ualberta.ca/PARKLAND/research/studies/Fuelling%20Fortress%20America%20WEB.pdf
It's based out of an Alberta "think tank" - and Alberta, as you know, supplies the US with MOST of their oil needs. I know you'll enjoy it.
It's chalk full of info on US's oil production/consumption, inclusive of information about projected import rates, and Bush's "Strategic Petroleum Reserve" - which is a program mandating they have a reserve of 1 billion barrels in reserve at all times - theoretically giving the states 69 days of Import Protection.
The reserves consist of 62 salt caverns located on the Lousiana and Texas coasts of the Gulf Of Mexico.
*(I think ETS should add that to his list of ways to bring down the American Empire. That would surely cause some damage.)
Anyway - the US thirst for oil is unquenchable. They currently import OVER 13.2 billion barrels/day. This is projected to increase to 18.5 by 2020 = more than China and India's current consumption combined.
Believe me - it's disgusting. Canada is now IMPORTING 500,000 barrels a day to meet our own needs, because under NAFTA stipulations, we cannot decrease our level of exports regardless of whether of not our own consumption levels are met.
The scariest part??? Global peak production is forecasted for approx. 2008. Countries worldwide are becoming more and more dependent on oil - China, India, and the US especially.
The global economy is simply unsustainable.
Submitted by GDR (user info) at 2006-07-13 13:07:34 EDT (#)
Ranking: 0
Submitted by BuckeyesTHEGAME (user info) at 2006-07-13 13:02:35 (#)
Ranking: 0
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Very interesting article, I'm gonna have to forward this one to a few friends.
Submitted by BuckeyesTHEGAME (user info) at 2006-07-13 13:02:35 EDT (#)
Ranking: 0
"Do you think alterative sources of fuel are already accessible and just being suppressed by the oil companies?"
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ABSO-FUCKING-LUTELY.
I read about a coal-based petroleum product a while back and how the Germans used it in WW2 because they didn't have access to the world's oil, so I did a quick Google search and found an article written by the Governer of Montana regarding the subject. (link: http://www.americanprogress.org/site/pp.asp?c=biJRJ8OVF&b=1157843) He brings up several interesting points, and while I won't copy and paste the entire article, I will mention a few key things he says.
- The means to turn coal into synthetic petroleum products such as gasoline, diesel and aviation fuel has been around since 1913 and was used in America as early as 1928. Germany used "synfuel" to power most of its vehicles in World War II, and South Africa used the technology to overcome apartheid sanctions starting in the 1950s.
- Today, South Africa...produces 150,000 barrels a day of gasoline and 50,000 of diesel each day without a drop of oil, the only mass production of liquid-coal fuels in the world. At the same time, facing the uncertain future of the world oil market, large nations such as China and India have begun investing seriously in synthetic fuel production.
- With our abundant coal, synfuel....could help us break our bonds with price-fixing dictators and give us a push down the road of energy independence.
- The main obstacle in synfuel production has always been the cost of production, about $35 for a barrel of finished product.
- In the 1920s, the U.S. Bureau of Mines was making synfuel and studying ways to make it on a large scale. In the 1940s, with passage of the Synthetic Liquid Fuels Act and an appropriation of almost $80 million for research and development, synfuel had a bright future. By 1953 a test plant in the town of Louisiana, Missouri was churning out several thousand barrels per day of synthetic, unleaded gasoline.
Here's a part you really need to pay attention to:
- When cheap oil was discovered in Arabia, the oil companies persuaded the government to abandon the research. During the 1970s oil crisis, the Carter administration flirted briefly with the synfuel concept, but it was again abandoned when the price of oil receded.
- Yet Americans are being forced to empty their bank accounts to buy gasoline from (oil companies who work hand in hand with) Middle Eastern dictators.
To recap, we could completely break away from our dependence on Middle Eastern oil and create our own fuel source for HALF of what we pay now. This, of course, would destroy the oil companies. Because said oil companies have so much influence over so many people in Washington, you can count on this never happening. It's not just Bush & Dick Cheney either, so don't use them as a scapegoat...it's ALL of Washington. It's like "Mister Smith Goes To Washington," only on a much larger level.
Submitted by GDR (user info) at 2006-07-13 13:02:33 EDT (#)
Ranking: 0
Want a good point of view on the trend of oil prices?
http://www.wtrg.com/prices.htm
Very good stuff.
Submitted by GDR (user info) at 2006-07-13 12:38:11 EDT (#)
Ranking: 0
Submitted by inion_de_trua (user info) at 2006-07-13 12:37:31 (#)
Ranking: 0
actually dave - 3.8L = 1gal
but i see your point. i'm just a pain.
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Your to much sometimes!
Submitted by inion_de_trua (user info) at 2006-07-13 12:37:31 EDT (#)
Ranking: 0
actually dave - 3.8L = 1gal
but i see your point. i'm just a pain.
Submitted by GDR (user info) at 2006-07-13 12:37:27 EDT (#)
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Submitted by Davros (user info) at 2006-07-13 12:32:20 (#)
Ranking: 0
Try living in the UK.
We pay per Litre (4.5 x Litre = Gallon) what you pay per gallon for Petrol/Gas.
-Dave
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What do you pay now per Litre?
Submitted by GDR (user info) at 2006-07-13 12:36:59 EDT (#)
Ranking: 0
Submitted by BobLobla (user info) at 2006-07-13 12:35:35 (#)
Ranking: 0
I'm gonna go with a big 'meh' on this. I am soooooo sick of talking about oil prices. The cost of gas is not going to go up enough to stop North Americans from driving thier big SUVs and trucks so I don't even see what the point is debating the issue. If people wanted a change so baldy, park the truck and ride a bike...
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True, but we use oil in ALOT of products, gas is a big portion, but not the entire.
Submitted by BobLobla (user info) at 2006-07-13 12:35:35 EDT (#)
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I'm gonna go with a big 'meh' on this. I am soooooo sick of talking about oil prices. The cost of gas is not going to go up enough to stop North Americans from driving thier big SUVs and trucks so I don't even see what the point is debating the issue. If people wanted a change so baldy, park the truck and ride a bike...
or your mom.
Submitted by inion_de_trua (user info) at 2006-07-13 12:35:21 EDT (#)
Ranking: 0
yeah wasn't that on the news like 4 days ago? either way, if this is the ONE thing the outside word is interested in when it comes to a country's gdp i mean really can we expect them not to rake us? they don't have any technological advances over us, they're not mass producing anything like china, they're not inventing/reinventing anything like japan, they don't have crop exports, they have NOTHING other than their oil. ok well uae puts out Veet but really leg waxing will not sustain a country.
if you have nothing else to offer wouldn't you charge as much as you could get away with on the ONE thing you have to give?
Submitted by Davros (user info) at 2006-07-13 12:32:20 EDT (#)
Ranking: 0
Try living in the UK.
We pay per Litre (4.5 x Litre = Gallon) what you pay per gallon for Petrol/Gas.
-Dave
Submitted by GDR (user info) at 2006-07-13 12:27:40 EDT (#)
Ranking: 0
Sorry for the spelling errors, I noticed 2 after posting.