gas prices, take 2 Options

[scotty914]

okay with the hurrican i have been watching a lot of fox news. according to opec they will pump more oil to help. here is the crazy part opec is going to hold a meeting next month to figure out why gas prices are as high as they are, they stated the opec pumps and sells the oil at 12 per barrel.

so who ever is buying the oil at 12 per barrel is marking it up to a current price of 67 a barrel, i wonder if this is along the lines of enron, artificially marking up the oil.

i have read a few things lately about oil wells, some thing like 70 % of the wells that were dry 10 to 20 years ago now have oil in them again, and but that they mean full flow pumping, not partial.

right now there is a 55 billion gallon oil surpluse ( just heard it ) in storage in this country.

[brer]

QUOTE

2 Billion from the White House for exploration

exploration is down nearly 30% in the past 10 years.

Dont you think if there was more oil out there they would be spending the money to find it? The facts as they appear is that it is not in their best interest to go looking for it. No more profit to pursue in that area which is why the white house is giving them money. To make exploration economically attractive.


When was the last oil refinery in California built? or anywhere in the US? How many of them?
One of you guys in the oil business surely must know where to find that fact.

No new refineries are being put up because its a losing investment. Production is dropping and putting in more refineries doesn't make sense if the supply can be handled with the current facilities and there is no expected increase in production. Its not the environmentalists that are keeping this from happening because we all know that if the powers that be want a refinery they'll get a refinery.

Oil is on the downslope of its production bellcurve, dropping 3% a year, and those in the know are already preparing for the eventual consequences. I personnally know an Exxon/Mobil CEO who has just invested in a lovely cabin way up in the mountains of Canada as a "retreat". He gave me the short version of why he wanted to move there which is basically this.

You couple a decrease in production with an increase in industrial activity across the globe and you're going to get two things.

higher resource costs and war over those remaining resources.

Is this is already happening?


Cheney was aware of this in 1999

Quote
"By some estimates, there will be an average of two-percent
annual growth in global oil demand over the years ahead,
along with, conservatively, a three-percent natural decline
in production from existing reserves. That means by 2010
we will need on the order of an additional 50 million barrels a
day." Dick Cheney

have a look here

if you're into more "BS"


Take a second here to think about the White House's energy policy since Bush first took office.
Securing a reliable enegy sources for America has been at the top of his list since day one and it has been the drving force in much of his policy making. Please correct me if i'm wrong here. This is because he recognizes the immenent problem facing america, not because he is trying to get rich (well, not entirely). I believe he has been taking the steps he sees as necessary, right or wrong, to put america in a good position for the next 50 years with respect to energy supplies.

Its not BS IMO.

I think we are living at the end of a golden age of expansion for our civilization. Oil isn't going to run out anytime soon but as production decreases and global demand increases our society is going to face a major contraction of both poplulation and industry as our oil economy struggles with its thirst. It isn't going to take a huge decrease in production to make this happen either.


I know, i dont know what i'm talking about. Alternative resources, Hydrogen?
Hydrogen cells are BS. They need platinum which does not exist in the quatity needed.
Solar? there isn't enough real estate, and besides you need oil to produce them.

these are the signs i see.

War in Iraq
China manouvering politcally and economically to gain control of Americas sources of energy here in the US and abroad.
decrease in exploration
decrease in production
increase in operating levels of existing pumping facilities
increase in demand worldwide
America squaring off against EVERY oil producer who isn't giving us preferred treatment

QUOTE

As previously posted, we can bitch about how much money the shareholders are making or we can join the ranks and become shareholders. that way when they make money, we make money. That is what I have done.

sounds like a good plan. Make some money and buy a nice house somewhere on a lake with good fishing far away from everyone else.

excuse my craziness, but you cant discuss oil without bringing up PEAK OIL theory and its potential affects on society.
and that CEO parts isn't BS. back to work for me.

b.


edit: forgive the speeeeling and grammar and brevity, it is obviously too much for me to handle properly in one post. (IMG:http://www.914world.com/bbs2/html/emoticons/blink.gif)