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the days of cheap oil are gone
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I really cant blame obama for a busted ass energy policy thats been a train wreck for awhile. Some old Billionaire oil guy has been telling people for awhile whats gonna happen.Originally posted by TexasDevilDog View PostComment
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Some say all the low hanging fruit is gone. All the easy access oil has been siphoned off, in other words.Originally posted by Broncojohnny View PostComment
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Peak oil is bullshit because you can't predict new technology. A decade ago we didn't have the technology to get the natural gas out of shale. Now look where we are.Originally posted by StanleyTweedle View PostOriginally posted by racrguyOriginally posted by racrguyComment
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Of course he is one of the people buying all the futures and driving the price higher so....Originally posted by QIK46 View PostOriginally posted by racrguyOriginally posted by racrguyComment
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I just read this article. http://www.nytimes.com/2011/02/24/bu...er=rss&emc=rssOriginally posted by clevelandkid View Post
Libya’s sweet crude cannot be easily replaced for the production of gasoline, diesel and jet fuel, particularly by the many European and Asian refineries that are not equipped to refine heavier grades of oil. Saudi Arabia may have more than 4 million barrels of spare capacity, but it includes heavier grades of crude that are higher in sulfur content and more expensive to refine.
“Quality matters more than quantity,” Larry Goldstein, a director of the Energy Policy Research Foundation, an organization partly financed by the oil industry.
Should the turmoil in Libya last for more than a few weeks, oil experts predict that European refiners will be forced to buy sweet crude from Algeria and Nigeria, two principal sources for the United States. That could push gasoline higher in the United States, where prices have already risen 6 cents a gallon in the last week to an average of $3.19 for regular.
class joke
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double Peas, Carrots;
string MommaAlwaysSaid(const bool AddAnyTime = True)
};Comment
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Well no shit. They are going to spin this right where they want it. Jupiter could move a centimeter out of orbit and the fucking price of oil will spike... IMO it's all a giant game of chess, not simple supply/demand like the try to make everyone think.Comment
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And why can't we tap into the Strategic Petroleum Reserve until this mess is over?Originally posted by The KingComment
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Drill here, Drill now.Comment
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Major bullshit. Theres so much oil and gas under the US its not even funny. You can thank the EPA and all of the NIMBYs for not allowing us to tap it. They sure as fuck like to consume it however!Originally posted by StanleyTweedle View PostComment
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most of the rigs that were in the gulf are probably in other places of the world. It would take months to ge them back.Originally posted by Trip McNeely View Postclass joke
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private:
char Forrest, Jenny, Momma, LtDan;
double Peas, Carrots;
string MommaAlwaysSaid(const bool AddAnyTime = True)
};Comment
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Yep. Why drill here, it costs too much, theres too much regulation. Its not worth it. Our govmt and these tree hugging NIMBYs are driving it away.Originally posted by TexasDevilDog View PostComment
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.Originally posted by TexasDevilDog View Post
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UPDATE 1-FACTBOX-Deepwater rigs moved out of the Gulf of Mexico
Thu Jan 27, 2011 8:06pm GMT
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(Adds Pride rig moving to Mediterranean)
Jan 27 (Reuters) - Some of the 30-plus deepwater rigs that were in the Gulf of Mexico have moved to other markets, first because of a U.S. halt called last May after BP Plc's (BP.L: Quote) well blowout, and then because of the lack of permits once the moratorium was lifted.
Below are rigs contracted to work in the Gulf of Mexico that have been or will be moved to other regions.
* Diamond Offshore Drilling Inc (DO.N: Quote) said on July 9 that the Ocean Endeavor, contracted to earn about $290,000 per day from Devon Energy Corp (DVN.N: Quote) in the Gulf of Mexico, would move to Egypt under a new deal with Burullus Gas Co. [ID:nN09154557]
* Diamond said on July 12 it would move the Ocean Confidence, under contract to Murphy Oil Corp (MUR.N: Quote), from the Gulf to the Republic of Congo. [ID:nN12212133] The rig is now drilling wells for Cobalt International Energy Inc (CIE.N: Quote) off Angola, but is due to return to U.S. waters in October.
* Transocean (RIGN.VX: Quote)(RIG.N: Quote), the world's largest offshore drilling contractor, said on Sept. 1 that it had moved its Marianas rig, under contract to Italy's Eni (ENI.MI: Quote), from the Gulf to work in Nigeria. [ID:nN01152276]
* Transocean said on Sept. 14 that its Discoverer Americas vessel, under contract to Norway's Statoil (STL.OL: Quote), was leaving for Egypt and was due back in the Gulf in March. [ID:nN14103743]
* Ensco Plc (ESV.N: Quote) said on Dec. 1 that its newly built 8503 rig, under contracted with Cobalt, would work for Tullow Oil Plc (TLW.L: Quote) off French Guiana for three months. [ID:nN01131883]
* Pride International Inc's (PDE.N: Quote) newly built Deep Ocean Ascension, under contract with BP, is moving to the Mediterranean Sea from the Gulf of Mexico in the first quarter, according to the latest Pride fleet update.
* Noble Corp (NE.N: Quote) said on Jan. 27 that the Clyde Boudreaux would move to Brazil for a year at a knock-down rate of $290,000 per day to work for Royal Dutch Shell Plc (RDSa.L: Quote), starting mid-April, and that it expected more to follow. [ID:nN27125865] (Reporting by Anna Driver in Houston and Braden Reddall in San Francisco; Editing by Lisa Von Ahn, Gary Hill)Comment
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Speculation drives the price of oil more than simple supply/demand. Anything at all is an excuse for the price to go up. JW33's post is great example.
Libya's oil goes to Europe. Why is diesel in Emory, Tx going up a dime per gallon tonight?
The one thing we did have going for us was production in the gulf. But B Hussein Obama took care of that when he ordered a moratorium on Gulf drilling (for no apparent valid reason). Did anyone think those rigs would just sit idle, hoping our idiot president would wave his magic wand and allow drilling again? Hell no, those rigs are gonna be making money somewhere. Good luck getting them back anytime soon. Why would they come back for 1/2 the profit and 5x the red tape?Comment
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It won't be over. Obama said a long time ago that he wants to drive the price of oil up. That's why they banned drilling in the gulf, etc.Originally posted by dewayne6243 View PostComment
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