Oil Slick Stuff

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Re: Oil Slick Stuff: another PO story

nnuut said:
Might be time to stock up, but where can I get a 1,000 Gallon tank? :o
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Many places nnuut.

My Dad did just that back in the early '60s. I was just a kid so have no idea what prompted him to do that, but he buried and filled a 1000+ gallon tank and bought fuel oil when it was cheap. I am not even sure how big it was but it looked huge to me at the time. Bigger than 1000 but you know little kid's memories.

I don't know exactly how this worked out financially over the years but I do know that when it came time for his heirs to settle the estate, their were dozens of lawyers and EPA officials drooling over the possibility of fines under "cradle to grave" rules.

After worrying about threats that once the estate was depleted the EPA would come after the heirs and take every cent it felt was needed for this terrible crime, we just got an "EPA certified remediator" to pump the damn thing out and dig it up. A local tank guy with a pump, tank truck and a backhoe came by and did the job in a few hours. Turns out this 40+ year old steel tank wasn't leaking and all they found under it was rust. EPA inspector seemed satisfied, tank was gone, contractor was happy as they got several hundred gallons of "good" fuel oil out of the deal, certificates were issued and land was sold.

Just saying, watch out what you do with that tank.

PO
 
Not to switch subjects here..But PO reminded me of the early 60's with his Dad's story and my Dad was all into the proverbial "Bomb Shelter"..not Storm shelter, but BOMB SHELTER in the back yard..Guess I wasn't too concerned or understood the worry about the Cuban Missile crisis and the Cold war with the CCCP back then:worried:..All I can remember my Dad telling me was to not to look at the explosion if it happened:blink:
 
My family never talked about The Bomb in the 60s. But we did bomb drills in early grade school-multiple years. everybody quick! get under your desk! :rolleyes:
 
Re: Oil Slick Stuff: another PO story

PessOptimist said:
Many places nnuut.

My Dad did just that back in the early '60s. I was just a kid so have no idea what prompted him to do that, but he buried and filled a 1000+ gallon tank and bought fuel oil when it was cheap. I am not even sure how big it was but it looked huge to me at the time. Bigger than 1000 but you know little kid's memories.

I don't know exactly how this worked out financially over the years but I do know that when it came time for his heirs to settle the estate, their were dozens of lawyers and EPA officials drooling over the possibility of fines under "cradle to grave" rules.

After worrying about threats that once the estate was depleted the EPA would come after the heirs and take every cent it felt was needed for this terrible crime, we just got an "EPA certified remediator" to pump the damn thing out and dig it up. A local tank guy with a pump, tank truck and a backhoe came by and did the job in a few hours. Turns out this 40+ year old steel tank wasn't leaking and all they found under it was rust. EPA inspector seemed satisfied, tank was gone, contractor was happy as they got several hundred gallons of "good" fuel oil out of the deal, certificates were issued and land was sold.

Just saying, watch out what you do with that tank.

PO
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I really have no where to bury one anyway, but buying low is a good idea.:)
 
alevin said:
My family never talked about The Bomb in the 60s. But we did bomb drills in early grade school-multiple years. everybody quick! get under your desk! :rolleyes:
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I lived in Southern California and it was confusing, one day we would have a NUCLEAR Drill and dive under our desks the next day we would have an EARTHQUAKE Drill and we would run outside.:laugh:
 
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Oil falls below $75 on crude demand uncertainty

Oil falls below $75 in Europe as doubts over crude demand overshadow global stock market rally

Pablo Gorondi, Associated Press Writer, On Monday August 30, 2010, 8:31 am EDT

Oil prices fell below $75 a barrel Monday, torn between rallying global stock markets and continuing doubts about the demand for crude in the United States.
By early afternoon in Europe, benchmark crude for October delivery was down 51 cents at $74.66 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.81 to settle at $75.17 on Friday.
Federal Reserve Chairman Ben Bernanke said Friday the central bank was ready to step in if the U.S. economy showed further signs of weakening. Bernanke's comments sparked a stock market rally, with the Dow Jones industrial average jumping 1.7 percent Friday.
Most major European and Asian stock markets followed the U.S. lead and rose Monday. They also got a boost from Japan's central bank deciding at an emergency board meeting to further ease monetary policy by extending more cheap loans to financial institutions.
Oil traders often closely watch equities as a gauge of overall investor sentiment. [more]
http://finance.yahoo.com/news/Oil-f...70.html?x=0&sec=topStories&pos=8&asset=&ccode=
 
U.S. Gulf Drilling Critical to U.S. Economy, Energy Security
Rigzone Staff
|
Friday, August 27, 2010
The current drilling moratorium in the deepwater Gulf of Mexico and proposed legislation that would add increased regulations, costs and taxes to offshore drilling pose a threat to U.S. energy and economic security, according to energy advisors with the Deloitte Center for Energy Solutions.
Adding layers of regulation will make it more difficult to drill for and develop U.S. resources, and rules that create a punitive tax and royalty regime likely will result in companies investing in projects overseas. For smaller companies with no overseas operations, the consequence of added regulation and associated costs may mean going out of business.
Peter J. Robertson, independent senior advisor with the Deloitte Center for Energy Solutions and a former Chevron Corp. vice president, said it was important to learn lessons from the Gulf oil spill and enhance safety and environmental standards, but that the industry needs to learn these lessons "quickly and efficiently" and move forward with offshore drilling as the moratorium is creating uncertainty for oil and gas companies' capital investment plans. [more]
http://www.rigzone.com/news/article.asp?hpf=1&a_id=98057
 
Analysis: Gulf Drilling Costs, Regulations Likely to Rise
Rigzone Staff
|
Friday, August 27, 2010

The Macondo oil spill in the U.S. Gulf of Mexico has set the stage for dramatic changes to the deepwater exploration industry, with future costs of drilling and operating in the Gulf expected to rise considerably, according to a white paper released by New York-based Grant Thornton LLP.
While certain cost increases can be attributed to natural market forces, such as insurance and capital providers repricing the risk of drilling and operating in deepwater, other costs increases will result from significant changes in regulatory policy, which are currently being discussed by Congress, according the study, The Implications of the Oil Spill on Deepwater Exploration and Production.
The repricing of risk in conjunction with proposed regulatory changes will have drastic long-term implications for exploration and production (E&P) companies. [more]
http://www.rigzone.com/news/article.asp?hpf=1&a_id=98037
 
Oil's too messy, let's just move to natural gas, we have plenty of it. If other countries follow, all the better for us.:laugh:
 
We just don't have the infrastructure and the machines that will run on natural gas, it could be done but there are so many problems to solve it would probably take 50 years of CHANGE to put a dent in the problem. I would suggest that we use both until we develop the capabilities, easy does it.
 
nnuut said:
Analysis: Gulf Drilling Costs, Regulations Likely to Rise
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That's a given...even if the costs are up front..the Greenies want to sooner rather than later eliminate oil production here in the US..So drive the price so high the OIL producers take a hike to offshore Brazil.
 
08/31/2010 - Updated 9:29 AM ET
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Crude oil slumps ahead of supplies data
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By Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude prices fell Tuesday, on track for their first monthly decline since May, with traders positioned for upcoming weekly supplies data while worries about global economic growth weighed on markets. [more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B391A29E0%2D8F0A%2D4265%2D8D84%2DC18D6107D2E8%7D
 
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Santelli made a point this morning with a rhetorical question. With oil at $73 while such a glut exists, can anyone imagine what it will be when demand comes back?
 
That's what is bothering me, and our friend Obama isn't helping a bit, actually making things worse. If it's going to happen I wish it would be in October, right before the elections.:D
 
08/31/2010 - Updated 12:54 PM ET
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Crude oil adds to losses, falls 2.5%
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By Claudia Assis, MarketWatch & Nick Godt, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude futures resumed their free fall as a short-lived stab at gains was unsuccessful.
Oil is looking at a decrease about 8% in August, its first monthly decline since May. [more]
http://markets.usatoday.com/custom/...S&guid={391A29E0-8F0A-4265-8D84-C18D6107D2E8}
 
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