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Saudi summit aims at oil prices

The world's largest oil producer, worried the escalating cost of crude will dampen demand, is convening a special meeting on Sunday to seek solutions.

By Steve Hargreaves, CNNMoney.com staff writer
June 19, 2008: 1:32 PM EDT

NEW YORK (CNNMoney.com) -- Saudi Arabia this weekend will convene a special summit on oil prices that could lead to cheaper crude on the world market.
But a Saudi decision to produce more crude likely won't come without a demand: The Kingdom is expected to press the U.S. government to impose greater controls on oil trading and take steps to strengthen the dollar.
The world's largest oil producer, stepping out of its usual role as de facto leader of OPEC, will host representatives of big oil producing nations, consumer countries and companies.
http://money.cnn.com/2008/06/19/news/international/saudi_oil/index.htm?postversion=2008061913
 
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nnuut said:
Saudi summit aims at oil prices

The world's largest oil producer, worried the escalating cost of crude will dampen demand, is convening a special meeting on Sunday to seek solutions.
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Posted 6/10/08
luv2read said:
LOL! They're happy with the high prices. They're just worried about the prices reducing demand - trying to figure out how to keep both up is their problem and what the meeting is about.
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:cheesy:
 
Originally Posted by luv2read
LOL! They're happy with the high prices. They're just worried about the prices reducing demand - trying to figure out how to keep both up is their problem and what the meeting is about.
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Got me thinking..I don't think you can have both..so their meeting is in vain if that was the topic...Course, I'm sure it was speculation that was what their meetin was about:suspicious:
 
Guys,
I just saw a segment on MSNBC (Countdown with Keith Olbermann) that shows a small car that runs or an hour on a substance called "water". ANYONE KNOW IF THIS IS CREDIBLE? Olbermann speculated that the guy would probably be silenced in a short time, or perhaps within hours. Wouldn't this be praiseworthy of American inventiveness, ingenuity, and creativity? Let's hope nobody derails this effort!
 
Just a thought:
When I was much younger and had my first car I started my long learning experiance of trying to be a Shade Tree Mechanic. One of the first things I learned from Old Dad was not to let an open flame or spark come close to the battery, because it could EXPLODE!!View attachment 4096
What is in a car battery? What does a battery do? Why will it explode?
1. Water.
2. Store electricity.
3. It generates Hydrogen, from water using electricity.
....................A FUEL CELL?
OK, I know you don't have to say it!! View attachment 4097
 
More than a few problems with running an engine on water:

1. water is already an 'ash' so no real energy in it
2. Newton taught us that it's impossible to get more energy out of something that you put into it... and it's even worse than that because you cant even break even...

This is the problem with 'cold fusion'

:p
 
Asylum said:
More than a few problems with running an engine on water:

1. water is already an 'ash' so no real energy in it
2. Newton taught us that it's impossible to get more energy out of something that you put into it... and it's even worse than that because you cant even break even...

This is the problem with 'cold fusion'

:p
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Oh contraire, you are looking at it backwards...It wouldn't be running on water, but the two elements that make up water, Hydrogen and Oxygen..when the are burned together, the ash is then H2O...A lot of energy is release in this chemical fusion....Besides, Newton played with apples:rolleyes:
 
Oil prices rebound as traders sense chance to buy
Oil prices rise above $134 a barrel with traders jumping on buying opportunities
June 20, 2008: 07:37 AM EST




NEW YORK (Associated Press) - Oil prices rebounded Friday with a number of traders believing that sharp declines based on an announced fuel price hike in China the day before were not merited.
Crude futures dropped nearly $5 a barrel on Thursday after China said it will raise prices for gasoline and diesel fuel 16 percent and 18 percent, respectively, beginning Friday.
http://money.cnn.com/news/newsfeeds/articles/apwire/5615f86d59d8d45fe7006849e0620b4c.htm
 
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Just what I figured. China, Venezuela, partnership, oil, refinery, plan. China's not worried about rising price of oil...wait until that refinery comes online. Their economy is blasting off for the 21st century.;)
 
Buster said:
Oh contraire, you are looking at it backwards...It wouldn't be running on water, but the two elements that make up water, Hydrogen and Oxygen..when the are burned together, the ash is then H2O...A lot of energy is release in this chemical fusion....Besides, Newton played with apples:rolleyes:
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i do know that i have been using fuel cells since the late 90s (first was an Onsi 200kw unit and the other two were PlugPower 5 kw units - supposed to be getting a new 1Mw unit sometime soon) and each of these uses natural gas to supply the H & O molecules to generate electricity (sorta like a car battery) and a LOT of heat with the exaust being electricity, heat, water and a tiny bit of N and S.
 
Oil rises as investors see refinery demand

Crude recovers some ground as some believe China's loosening fuel subsidies could spur demand from refiners.

June 20, 2008: 8:42 AM EDT

NEW YORK (CNNMoney.com) -- Oil regained ground in electronic trading Friday, the expiration day for the July futures contract, as investors saw the loosening of China's fuel subsidies translating into higher demand from Chinese refineries.
Light, sweet crude for July delivery was up $2.37 to $134.30 a barrel in overseas electronic trading after plummeting nearly $5 a barrel during the previous session.
That drop was sparked by China saying it would raise the price of gasoline by 16% and diesel fuel by 18%, which investors initially believed could put a damper on demand from China's growing economy.
"This is going to finally mean that the Chinese are going to feel more of the pain," said Peter Beutel, oil analyst with Cameron Hanover.
However, many investors Friday believed that Chinese refiners may start purchasing more oil, since the price hike would likely increase their margins.
"If they can sell refined products for a price closer to the real price, then they can start making a real profit," said Beutel.
Stephen Schork, publisher of energy industry newsletter The Schork Report urged caution, saying the previous day's near-$5 drop may be nothing more than a hiccup. "Given the current volume, that's virtually normal these days," he wrote.
Before China's announcement Thursday, oil had retreated from a high of nearly $140 a barrel on Monday.
Concern about high oil prices led Saudi Arabia, the world's largest producer, to call a summit between oil producers and oil consumers to address the issue before high prices can permanently damage demand.
Also this week, President Bush and Republican presidential candidate John McCain said theysupport lifting the ban on off-shore drilling and raising the level of domestic oil production.[more]
http://money.cnn.com/2008/06/20/markets/oil/index.htm?postversion=2008062008
 
Asylum said:
i do know that i have been using fuel cells since the late 90s (first was an Onsi 200kw unit and the other two were PlugPower 5 kw units - supposed to be getting a new 1Mw unit sometime soon) and each of these uses natural gas to supply the H & O molecules to generate electricity (sorta like a car battery) and a LOT of heat with the exaust being electricity, heat, water and a tiny bit of N and S.
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What you speak of is an Entirely different process than the electrolysis method of seperating H2O in to Hydrogen and Oxygen..As in the vids below, they performed this process via RF/Microwave stimulation and this requires very little energy compared to Electric current method..and when these two elements are burned together, a huge amount of energy is produced along with heat while recombining of the two gasses, they make H2O again....ergo, more energy is produced in the burning than it took to seperate the Hydrogen and Oxygen initially.
 
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