Alaskan oil shut down indefinitely

[Island Son]

8 percent of your domestic US supply
prices are about to go up again..... lol

http://money.cnn.com/2006/08/07/news/international/oil_alaska/index.htm?cnn=yes

 

[pintoca]

quickly!!! go place an order for something with a 6 ltrs engine!!!!

and put some spinners on it!!!! you know you need the additional 100lbs weight

 

[dullboy]

8 percent of your domestic US supply
prices are about to go up again..... lol

http://money.cnn.com/2006/08/07/news/international/oil_alaska/index.htm?cnn=yes

dullboy says why does this make you laugh?


that's such an odd thing to laugh at.

 

[Razorguns]

hippies are happy! they hate the words 'alaska' and 'oil' together

 

[manny78]

quickly!!! go place an order for something with a 6 ltrs engine!!!!

and put some spinners on it!!!! you know you need the additional 100lbs weight

Euro cars all the way !

 

[Razorguns]

it;s 8 per cent of 'us production', but probably 3 per cent of us consumption whe u add in foreign oil, etc. won't make that much of an impact. Now we reap the benefits of having 'foreign oil supplies' go figure

 

[mrplunkey]

Well, people were all ready to do a windfall tax on oil companies due to unusually large profits.

If this knocks-down oil company profits below expectations should we now give them a one-time tax cut?

Strangely enought I don't think people will see it both ways

 

[gotmilk]

Euro cars all the way !

Even Urkle would not drive a Renault

 

[dullboy]

Well, people were all ready to do a windfall tax on oil companies due to unusually large profits.

If this knocks-down oil company profits below expectations should we now give them a one-time tax cut?

Strangely enought I don't think people will see it both ways

you make good points just like dullboy

 

[Gambino]

dullboy says why does this make you laugh?


that's such an odd thing to laugh at.

they want america to lose
fits their whole "bush sucks" poly doctrine :rolleyes

 

[Island Son]

dullboy says why does this make you laugh?


that's such an odd thing to laugh at.

what else can you do?
gallows humour

 

[SoreArms]

quickly!!! go place an order for something with a 6 ltrs engine!!!!

and put some spinners on it!!!! you know you need the additional 100lbs weight

just curious, do you see that kind of crud in Germany?

 

[Island Son]

it;s 8 per cent of 'us production', but probably 3 per cent of us consumption whe u add in foreign oil, etc. won't make that much of an impact. Now we reap the benefits of having 'foreign oil supplies' go figure

pump prices don't rise and fall on "actual" supply and demand? It's all forecast and more importantly, speculation

 

[juiceddreadlocks]

bump for insight from mountain muscle and scotsman.

 

[nugget]

Euro cars all the way !

http://www.loremo.com/

 

[Razorguns]

pump prices don't rise and fall on "actual" supply and demand? It's all forecast and more importantly, speculation

which is based upon actual 'supply and demand'

thanks for playin'

 

[Arabian]

This is nothing more than a scam by the oil companies to generate more revenue. Lets see BP posted a 35 BILLION dollar profit for 2005 and they have already surpassed that this year.. pipelines busted ya right.

 

[Huckster]

http://www.switch2hydrogen.com/

 

[pintoca]

just curious, do you see that kind of crud in Germany?

only the VERY rich buy cars without thinking about maintenance costs...

think about it, a very common car here is a Porsche... those are normally 3.something litres.

People with 5ltrs engines (m5, m6, 750, s500, etc) are normally using those cars as company cars, meaning, the companies are paying for the gasoline as well.

Very rarely you see a V12 on the street... and then you go DAMN.

There are 2 (read two) hummers in my area and they belong to Americans.

 

[mrplunkey]

There are 2 (read two) hummers in my area and they belong to Americans.

USA! USA! USA! USA!

Oh... wait... n/m

 

[Phenom78]

8 percent of your domestic US supply
prices are about to go up again..... lol

http://money.cnn.com/2006/08/07/news/international/oil_alaska/index.htm?cnn=yes

LOL

What's funnier is that oil is priced on a world market so that any increase in price is paid in every country where the price isn't subsidized.

Your not knowing that made me smile.

 

[Y_lifter]

I'd buy a gas efficient 4cyl pickup if they built one..

Even the mid sized 4 cyl models only get in the 20-22 MPG range.

And yet a V6 model gets 17-18 and has twice the HP and torque

 

[pintoca]

I'd buy a gas efficient 4cyl pickup if they built one..

Even the mid sized 4 cyl models only get in the 20-22 MPG range.

And yet a V6 model gets 17-18 and has twice the HP and torque

tee hee

<--- This guys' car gets 37MPG (4 cyl, 180hp & 300Lbft torque, 0-60 in 8.5 secs, 140Mph top speed)

 

[Y_lifter]

tee hee

<--- This guys' car gets 37MPG (4 cyl, 180hp & 300Lbft torque, 0-60 in 8.5 secs, 140Mph top speed)

Cool..

Hey,
Meet me up at Home Depot and we can load up some 4x8 plywood sheets and about 30 bags of pine bark in the back..,

 

[pintoca]

Cool..

Hey,
Meet me up at Home Depot and we can load up some 4x8 plywood sheets and about 30 bags of pine bark in the back..,

no problem, there is a SUV with the same engine, and gets about 35MPG and lower top speed... but I don't like the SUV crowd

 

[Y_lifter]

no problem, there is a SUV with the same engine, and gets about 35MPG and lower top speed... but I don't like the SUV crowd

Cool,
Then you could help me move a large tall dresser and washer dryer in the back..

 

[pintoca]

Cool,
Then you could help me move a large tall dresser and washer dryer in the back..

lol

I guess the point is

there are no pickup trucks (well, they are, but only construction companies buy them) in Europe

capicce?

 

[Y_lifter]

capicce..
that sucks..

I'd be screwed without a Pickup in the Family..

 

[manny78]

Cool..

Hey,
Meet me up at Home Depot and we can load up some 4x8 plywood sheets and about 30 bags of pine bark in the back..,

Home Depot has a free delivery service when it's over $100, at least here. Only SUV i'd get is the Cayenne S for its look, performance and its towing capacity (7700lbs).

 

[pintoca]

Home Depot has a free delivery service when it's over $100, at least here. Only SUV i'd get is the Cayenne S for its look, performance and its towing capacity (7700lbs).

what part of 13MPG (in real tests) don't you get???

 

[Y_lifter]

Home Depot has a free delivery service when it's over $100, at least here. Only SUV i'd get is the Cayenne S for its look, performance and its towing capacity (7700lbs).

yea, and rental trucks you can rent for like $25 as well.
But I want my stuff today and I need it often, and so that would be very impractical.

So I compromise with a Mid size V6 PU truck that gets OK MPG in the high teens vs a huge full size V8 PU.

 

[mrplunkey]

what part of 13MPG (in real tests) don't you get???

Yeah... that's a little too "green" for me. As long as I keep my vehicle in "Sport" mode I won't accidentally break 9 mpg.

Almost traded my bike when I realized it got nearly 25 mpg, but it doesn't weigh much so I guess I can live with that.

 

[Island Son]

which is based upon actual 'supply and demand'

thanks for playin'

huh???

forecast = estimate of the future
speculation = greed while thinking about the future
i.e. NOT based on supply and demand of oil

the only limit is refining capacity. Since there is more than enough oil to supply the refineries, the price swings of gasoline should be dependent on its own supply, not on the price swings of oil (which shouldn't be having such price swings in the first place).

--------------------------------------------------------------------
Excerpt from last month's Wall Street Journal
http://royaldutchshellplc.com/2006/...is-cite-market-forces-for-lower-crude-output/

Kingdom Denies Any Effort
To Curb Global Oil Supply;
Stores Are Near Capacity
By BHUSHAN BAHREE
June 5, 2006

CARACAS, Venezuela — Saudi Arabia’s oil minister confirmed that his country’s massive crude-oil output has declined in recent months, but he attributed the trend to a drop in demand and denied the kingdom is aiming to limit supply.

In an interview after a meeting here of the Organization of Petroleum Exporting Countries, Ali Naimi said other cartel members are having trouble finding buyers for all the crude they are producing, at a time when global stores are near full and many refiners have closed facilities for routine maintenance. One Saudi official said an estimated three million barrels a day of refining capacity is out of action and unable to process crude, at a time when the world is using some 84 million barrels a day of oil products like gasoline and jet fuel.

“It’s not just heavy oil. Even light oil is having problems” finding buyers, Mr. Naimi said, referring to premium grades of crude known as light crude that are highly prized by refiners because they have high gasoline yields.

Asked if the kingdom was easing up on supply because of concern about the buildup of inventories in the U.S. and other importing countries, Mr. Naimi rejected such a motive, replying: “At $70 a barrel?” Mr. Naimi suggested that producers will sell all the oil they can at such high prices.

----------------------------------------------

you're gonna have to come at me harder than that, son. Go read something.

 

[juiceddreadlocks]

huh???

forecast = estimate of the future
speculation = greed while thinking about the future
i.e. NOT based on supply and demand of oil

the only limit is refining capacity. Since there is more than enough oil to supply the refineries, the price swings of gasoline should be dependent on its own supply, not on the price swings of oil (which shouldn't be having such price swings in the first place).

--------------------------------------------------------------------
Excerpt from last month's Wall Street Journal
http://royaldutchshellplc.com/2006/...is-cite-market-forces-for-lower-crude-output/

Kingdom Denies Any Effort
To Curb Global Oil Supply;
Stores Are Near Capacity
By BHUSHAN BAHREE
June 5, 2006

CARACAS, Venezuela — Saudi Arabia’s oil minister confirmed that his country’s massive crude-oil output has declined in recent months, but he attributed the trend to a drop in demand and denied the kingdom is aiming to limit supply.

In an interview after a meeting here of the Organization of Petroleum Exporting Countries, Ali Naimi said other cartel members are having trouble finding buyers for all the crude they are producing, at a time when global stores are near full and many refiners have closed facilities for routine maintenance. One Saudi official said an estimated three million barrels a day of refining capacity is out of action and unable to process crude, at a time when the world is using some 84 million barrels a day of oil products like gasoline and jet fuel.

“It’s not just heavy oil. Even light oil is having problems” finding buyers, Mr. Naimi said, referring to premium grades of crude known as light crude that are highly prized by refiners because they have high gasoline yields.

Asked if the kingdom was easing up on supply because of concern about the buildup of inventories in the U.S. and other importing countries, Mr. Naimi rejected such a motive, replying: “At $70 a barrel?” Mr. Naimi suggested that producers will sell all the oil they can at such high prices.

----------------------------------------------

you're gonna have to come at me harder than that, son. Go read something.

That's in pretty stark contrast to what Iran said yesterday or today. Lemme find the link. The jist was that there was no more light sweet capacity than we're already using.

http://realtimenews.slb.com/news/story.cfm?storyid=635373

Iran OPEC Gov: OPEC Oil Too Heavy to Make a Difference
by Sally Jones
Tue, Aug 8, 2006 15:45 GMT

Sunday, BP shut in 400,000 barrels a day of production at its Prudhoe Bay field in Alaksa, erasing about 8% of total U.S. production. BP has so far not been drawn on how long the shut down would continue.

Oil prices Monday clocked their biggest single-day gain in over four months on news of the shut-in, which came on top of months of lost production from Africa's largest producer, Nigeria, and growing tensions between the West and Iran after Tehran rejected a U.N. resolution calling on it to halt nuclear enrichment.

Tuesday, U.S. oil prices were trading close to $77.00/bbl and Brent at just under $78.00/bbl.

The development prompted reassurances from both OPEC and the U.S. Department of Energy that they would standby with supplies if needed.

But Kazempour played down OPEC's ability to make a difference at this time.

"What can OPEC do now, especially when we don't have any sweet quality crude available,?" he said.

Several OPEC members are currently having problems selling the heavier crude oil grades which they typically produce, demand is stronger for the sweeter quality oil produced by BP at its Alaskan field.

© 2006 Dow Jones Newswires.

 

[Phenom78]

huh???

forecast = estimate of the future
speculation = greed while thinking about the future
i.e. NOT based on supply and demand of oil

The market functions to provide supply.

It is one of the reasons why you do not have gas lines at stations in addition to higher prices as was the case in the 70's.

Prices must inherently reflect the anticipated cost of providing supply at future dates in an uncertain market environment. They aren't purchasing oil today and taking it home with them. They are buying it in anticpation of future need to be delivered at a later date.

 

[Island Son]

That's in pretty stark contrast to what Iran said yesterday or today. Lemme find the link. The jist was that there was no more light sweet capacity than we're already using.

Ahhhh, thanks JD

http://www.energybulletin.net/8102.html (a condensed version of what I found in Money http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd14/P1/AllStarTeamJournal20060619.aspx)

essentially most of the Middle Eastern oil is heavy and high-sulphur so it's not in demand b/c few refineries can handle it (and those few are making a killing on the cheapness). Benchmarking is done on the expensive type not the average. I got it now

 

[juiceddreadlocks]

Ahhhh, thanks JD

http://www.energybulletin.net/8102.html (a condensed version of what I found in Money http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd14/P1/AllStarTeamJournal20060619.aspx)

essentially most of the Middle Eastern oil is heavy and high-sulphur so it's not in demand b/c few refineries can handle it (and those few are making a killing on the cheapness). Benchmarking is done on the expensive type not the average. I got it now

god damn, I hate reading the word ''peak'' when it comes to oil production!

 

[UA_Iron]

It would seem that the most profitable business in the world would have better crisis management. In fact, it would seem more safeguards would be in place such that:
1. More than one refinery is not shut down at a time for "servicing"
2. A better buffer against the daily oil price fluctuations

Where's the motivation to fix this pipeline? They make more money if its broken.

 

[gjohnson5]

http://www.switch2hydrogen.com/

Yep with no greehouse gasses pollution

 

[manny78]

what part of 13MPG (in real tests) don't you get???

The least of my concerns lol I drive very short distances (the office is only 5 km from home). But I guess you could get around 19-20mpg is your right foot is not too heavy.