Oil Slick Stuff

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nnuut said:
60 gallons of crude Oil! $1.87:laugh:
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A barrel isn't 60 gallons of crude.

A barrel is 42 gallons of crude.

And then they make gas out of it, but I don't know how much gas you get from each gallon of crude.

Whatever it is, it's about to GO HIGHER! That's for sure.


You know, that 42 gallons is, in fact, really, really important.

the answer to life the universe and everything = 42
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I know this ain't suppose to be a poltical thread/pardon me this time Norm....But this smells of vote buying for 2012.....just saying


Obama says new task force will examine gas prices​

President Barack Obama said Thursday that the Justice Department will try to "root out" cases of fraud or manipulation in oil markets, even as Attorney General Eric Holder suggested a variety of legal reasons may be behind gasoline's surge to $4 a gallon.

http://news.yahoo.com/s/ap/20110421/ap_on_bi_ge/us_obama
 
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I believe this is on subject and we did the same thing the last time it happened, discussed it.
EVERYBODY knows that the Speculators caused 2008 spikin Oil and the idiots are letting them do it again. Right now there is plenty of oil but problems in OPEC countries and the Administration's campaign to limit and outright block Drilling in the USA have given them what they think is a justifiable reason to drive up the price, it's all about making money. Politics is coming into play now, OH YES I was the one that caught those crooks and saved the economy, I can hear it now! HA!:nuts:
 
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...the Administration's campaign to limit and outright block Drilling in the USA
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Fiction. Pure fiction.

On what do you base that on? Can you give a single example of the Administration trying to block drilling?

There is a difference between requiring companies to have the capability to clean up their own mess, and a "campaign to limit and outright block drilling".


The former is common sense in an environment of BP showing that it was incapable of acting responsibly.

The latter is pure fiction.

The only "campaign" has been to put into place reasonable rules to try and make sure the things that happened in the BP spill don't happen again. The Department of the Interior proposed several rules to fix that:

One rule calls for a workplace safety system to identify hazards and reduce human errors, including a requirement that each rig have an oil spill contingency plan and conduct drills to practice it. Oil and gas companies had strongly objected to such a rule before the BP gusher sent 4.1 million barrels of oil into the Gulf over the spring and summer.

The other rule prescribes how cement and drilling fluids should be used to maintain the well bore and toughens standards for blowout preventers and other equipment design to shut off the flow of oil and gas in an emergency.

The work place rule will take affect as soon as it is published. The new drilling regulation is effective immediately.
Oil and gas industry groups denounced the new regulations as likely to delay new government permits to drill.​
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James48843 said:
The only "campaign" has been to put into place reasonable rules to try and make sure the things that happened in the BP spill don't happen again. The Department of the Interior proposed several rules to fix that:
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If you believe OIL is a neccessity than what is reasonable mitigation cost. Those cost get passed along. 150/200/300. I don't know but the question is valid.
If you don't believe OIL is a neccessity than what is the alternative. You can role corn out there but there is already a thread for that and there is not a reasonable person alive that believes that's the answer.

There is risk with every single energy source out there. Oil spills in the ocean, kills some fish, we shut it down.
Wind turbines kill birds, we fight there construction.

How many coal miners die every year for the past hundred years and we keep digging. Nuclear accidents happen but they are still in operation.

Energy in all forms is an ugly business.
 
devilavatar.gif No I'm not going to explain or justify, prove this whole thing again and again. :nuts:
 
WorkFE said:
There is risk with every single energy source out there. Oil spills in the ocean, kills some fish, we shut it down.
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It is reasonable to put in place rules that require that any company who wishes to drill in water have a plan in place for what they will do if something goes wrong. That's reasonable.


Wind turbines kill birds, we fight there construction.
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and we approve their construction too.

And science finds ways to try and mitigate the adverse impacts as we learn and grow.

How many coal miners die every year for the past hundred years and we keep digging.
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In 2004, only 28 coal miners died in this country. That compared to over 3,200 in 1907. Why have coal mining deaths gone down? A big part of the reason is safety regulation. Just ask the Miners themselves. Sure, we have renegade companies that flaunt safety regulations. And where they do, people die. And we have responsible companies that have good safety climates. That is the whole point about learning from the mistakes others have died for, and trying to put in place measures that prevent those same mistakes from happening again. THAT is what good safety regulation is all about.



Nuclear accidents happen but they are still in operation.
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Because of good safety regulation in this country, the number of people dead from Nuclear accidents is....zero. So far, anyway. But it's a never-ending process to learn from the mistakes of others, and to learn where things have gone wrong in the past, to make sure those same things don't ever happen in the future.

Energy in all forms is an ugly business.
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Everything is a balance.

Regulation where it makes economic sense to put protections in place for workers. THAT is a good thing.
 
ch.gaschart



Still not as high as they were in 2008.

Getting close, but not quite there yet.

I see it was $4.05 near me this morning.

Good thing I have an alternative.
 
James48843 said:
ch.gaschart



Still not as high as they were in 2008.

Getting close, but not quite there yet.

I see it was $4.05 near me this morning.

Good thing I have an alternative.
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You make that sound like a good thing :confused: hmmm :mad:

What has anyone done in the last 2 years to keep gas prices from doubling?

Also, since you mentioned 2008, wasn't that a crude oil speculation bubble (and what caused that) and it went down promptly afterwards... oh, do you see a crude oil price reason why we are back at $4? Gas prices are no where near their peak and only half way to POTUS' goal...

So now what?
 
I think today's prices are exactly the same reason - crude oil speculation bubble.


MTTSTUS1M.jpg



The supply is just fine. The monthly ending stocks of oil available are just fine.

The end-of-month numbers on stocks are similar today as they were every month for the last year. It's within the same ranges. http://www.eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mttstus1&f=m


There is no shortage of oil. It's not the law of supply and demand. There is plenty of supply when the price is $4 a gallon. Same amount of supply when gas was $2 a gallon.

It's just that the bidders are bidding up the price.


Greed.

As long at people continue to be willing to pay $4 + for gasoline, the people bidding it up in price will continue to make more and more money off of it.

When people decide they've had enough, and are willing to switch to something else (E85, for example,) then the price will break it's top, and begin to fall again.
 
James48843 said:
I think today's prices are exactly the same reason - crude oil speculation bubble.
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But why is gas at $4 now when oil is $111 when it hit $4 in 2008, crude was at $145??? What is different this time, and does that mean we are looking at $6-7 gas real soon if crude still soars? :sick:

I am going to start walking to work :mad:
 
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