nothing lasts for ever… . get used to it its going to get worse. …
To the OP,
Supply and demand for oil and gas is through the roof. The price of oil goes up because of the demand, and it’s not because we are running out, it’s because oil companies are now paying drilling companies, 2 and 3 times more money per day to look for oil as compared to 2 years ago.
Did you know a regular oilwell drilling rig makes in excess of 60,000.00 dollars a day! It takes @ 10,000.00 of that to keep it running for a week. Do the math. Right now oil companies are searching for oil everywhere, and equipment is shorthanded so they are paying top dollar for equipment to put on exploratory wells, and old wells just to squeeze what ever oil they can find.
Right now rigs in the Gulf of Mexico, are getting daily rates in excess of 200,000.00 USD per day.
The best part of all this, I work for a drilling company, our stock has went up 23% in the last month alone.
I got a fat ass bonus last year, and this year we have surpassed last years total profit margin by 45%, and it’s not even the third quarter yet.
You can piss and moan about gas prices and I don’t blame you, I do too.
What I don’t understand is drilling hasn’t changed in 100 years, transportation has, and recently the advancement of mass transit systems has improved greatly over the last 20 years, so theoriticaly, the demand should have leveled off.
But what the hell do I know.
Bullpup
Plenty of oil in alaska…
If the libs hadnt blocked us from anwr we’d have lower prices…
every day you hear prices are up due to “fear”
fear of this and fear of that.
they are worried about a disruption in supply.
Yes i know it would take a while to get anwr to market… but if you know you’re going to win the lotto next week, will you give a shit about pissing away your pay check today? no…
so blame the libs and blame the tree huggers.
To all of the supply/demand theorists, you are wrong.
Exxon reports record profits when oil prices reach record highs. It’s the combo of an oligopoly, collusion and an oil-man/president that makes sure it’s all overlooked. duh.
I pray they are raping us so that they can invest in the infrastructure needed for non-carbon based fuel. But I doubt it. 
I can honestly forsee nations bombing one another, rioting and utter chaos, murder in the streets, complete anarchy and disregard for the law because of this oil situation down the road.
The irony is the government holding out so long on finding alternative fuels and making profits that it comes back to bite them in the ass when the citizens overthrow them.
Anybody remember TC’s atomic dog about Mutually assured destruction? Maybe that is why America is in such bad shape these days. We have no real enemy and nothing to occupy our interests so the bulk of society has become fat, lazy and unprepared. Maybe a world war over oil control is the cure??? At the very least it should rid the world of all the fatties.
there is plenty of oil in the world…
nobody will run out…
[quote]blitzkrg wrote:
Plenty of oil in alaska…
[/quote]
There’s also more in Canada than there is in the Middle East. At least that’s what I’ve been told.
The Abathasca oil sands are loaded with a tar that can be refined for crude oil refineries to convert to normal products (kero, gasoline, avjet, etc). The difference between Can. and the Mid East is it costs anywhere from 15-20 times the cost to extract it from the sand.
On a seperate note, I know of an oil company that is getting ready to explore in Colorado. Looks like a potential 20-30 billion dollar investment if the pilot works.
[quote]blitzkrg wrote:
Plenty of oil in alaska…
If the libs hadnt blocked us from anwr we’d have lower prices…
every day you hear prices are up due to “fear”
fear of this and fear of that.
they are worried about a disruption in supply.
Yes i know it would take a while to get anwr to market… but if you know you’re going to win the lotto next week, will you give a shit about pissing away your pay check today? no…
so blame the libs and blame the tree huggers.
[/quote]
Apparently I’m a so called “tree hugger” because I understand how the enviornment works. The consumption of gasoline in cars and the problems with ozone depletion and global warming are real.
The government are douschebags because they’re supossed to be taking care of things like this, not running away.
[quote]Race Fan wrote:
The Abathasca oil sands are loaded with a tar that can be refined for crude oil refineries to convert to normal products (kero, gasoline, avjet, etc). The difference between Can. and the Mid East is it costs anywhere from 15-20 times the cost to extract it from the sand.[/quote]
Those are worthless. It takes more energy to extract the oil from the sand than is gotten from the sand.
In fact, it takes more energy to pump the remaining oil out of old wells than is gotten from those wells. Once the pressure decreases, the remaining oil is trapped unless energy is spent forcing down water or otherwise increasing again the pressure under ground.
Read about peak oil. It’s not just about how much is left, but about how much can be extracted without actually losing energy. And how much that will still cost. The remaining oil will just increase by about a $1 gal every year until it can only be useful for special projects. You certainly won’t be able to use oil in 5 to 10 years from now.
[quote]E-man wrote:
I can honestly forsee nations bombing one another, rioting and utter chaos, murder in the streets, complete anarchy and disregard for the law because of this oil situation down the road.[/quote]
That’s not going to happen. There are billions upon billions of barrels of oil to be had right here on our own soil - getting the enviro-whackos to let us drill for oil on our own soil would ease the strain quite a bit.
Why is it the government’s job to find alternative fuels? It’s not. We live in a free market society. If there was money to be made by introducing a viable alternative energy source - it would have been done already.
[quote]Kailash wrote:
Race Fan wrote:
The Abathasca oil sands are loaded with a tar that can be refined for crude oil refineries to convert to normal products (kero, gasoline, avjet, etc). The difference between Can. and the Mid East is it costs anywhere from 15-20 times the cost to extract it from the sand.
Those are worthless. It takes more energy to extract the oil from the sand than is gotten from the sand.
[/quote]
Trust me, if it was worthless the top energy companies would not be doing it. The high costs are part of overall project costs of building infrastructure (roads, electric power, water, etc) to support the employees doing the work and moving the product.
While it may seem worthless now, think of having an established source of fuels right here for when/ if the middle east dries up or in case there’s an east/ west fallout with the rest of the world, we will have a steady source here. The cost per barrel will come down in time as the energy companies recoup the upfront costs.
I dont buy this supply and deman bullshit. Its not like people all of the sudden woke up and said “lets drive 1.75 time more than we used to or lets buy 1.75 times of a car.” Peoples demand hasnt gone up.
Oil prices were raised becuase of all of these “issues,” yet oil companies set ridiculous record profits. How more blatently obvious does it have to get? With all of the “broken pipes” that needed to be repaired after Katrina how the fuck would an oil company show record profits when it had all of these “repairs” to perform? Its fucking ridiculous.
Thats it! I’m getting a fucking moped!
[quote]RIT Jared wrote:
I’ve taken my own approach to locking in fuel prices. I filled my bathtub and every other watertight vessel in my apartment with gasoline.
They say that you adjust to any smell after 4 minutes, but I can assure you that with a house full of gasoline this rule does not apply and I’ve been getting headaches lately from the strong odor.[/quote]
that might not be the MOBIL gas your smelling buddy 
Just give it some more time and we’ll have more E85 cars out there and soon after that…HYDROGEN!
BMW is actually doing some really good research on H-powered vehicles. They have a land speed record for H-powered vehicles. Check the car out:
sure its not relistic to have a V12 on the road for 99% of the population but it shows you a glimmer of what can be accomplished; and might be accomplished on the road soon. They also have a few 7-series cars that are hybrids. Hydrogen power takes it from 0-20ish and gasoline takes over from there; its got a combonation of 176 or so horsepower with top speeds normal to most cars today (170ish). And if combined it gets 25-30mpg; i’ll take it.
i love BMW.
(shameless promotion)
[quote]Race Fan wrote:
Blood is Metal wrote:
I agree with this. I’m sick of it, too.
US oil companies have stockpiles of this stuff. When prices go up, they don’t even buy oil. They use their stock to sell to the gas stations. They just pocket the extra money (proof of that is the record earnings they post each quarter that this occurs).
Also, really tired of hearing “try leaving the country / see what other countries pay.” Who cares? We are ALL getting shafted. Seems to me people from other countries have just dealt with it longer and should therefore be even MORE pumped (no pun intended) to rise up and say / do something about it.
I think the point here should be: it sucks, no matter where you live, and something should be done about it.
However, that being said, I have NO idea what that would be.
Some of you really have no clue do you?
For the last 15 or so years the oil industry has operated with very little of a profit.
Hell, I can remember when my refinery was doing good if we made 20 million in a year. We were getting our asses handed to us by McDonald’s, Coca-Cola, Nike, etc. Micheal Jordan made more money than us in the late 90’s.
The problem is limited refining capacity coupled with increased global demand for oil. Why do you think the U.S. is strapped for refining capacity? If there was a profit to be made we would havve expanded refineries to increase throughput. Another reason is the BS companies have to go through for environmental permitting. You don’t just go down to the local Wal-Mart and get one of these.
There is an industrial revolution on a global scale right now with China nad India taking in more oil than ever before.
I work at the second to last grass roots refinery built in the U.S. it was commisioned in 1967. The last one is 20 mi away and it was built in 1976.
Like I mentioned before,
[/quote]
Good post. When MJ turns a bigger yearly profit than an oil refinery it just shows how fucked up things were.
To the OP, drive less, get motorcycle or a fuel efficient car.
These gas prices are here to stay. They have been paying higher prices in much of the world for a long time.
Oh one more thing - without getting too much into details - if you’re sick of high gasoline prices - Buy a refining company called Valero.
There is still excess profits to be made in this company since their executives had the forethought of upgrading their refiners to be able to process heavy crude - which is far cheaper than the light sweet stuff, but consequently harder and therefore more costly to process.
BUT - and this is the key - very few other refiners have this ability to process the heavy crude and without getting into the supply/demand stuff - there is a higher gross margin on the heavy than the light sweet currently. And as we all know upgrading refiners is an immensely costly project especially with costs in all aspects of the oil business skyrocketing.
Anyway - in a nutshell - just buy Valero if you don’t like high gasoline costs. There will be excess profits for years to come in a world of heavy crude far dominating light crude and the market not properly valuing this situation.
And no - I don’t work for Valero
troop
p.s. - we have already passed the peak of production in light sweet crude and will never produce as much of this beautiful stuff as we did sometime middle of last year. That really sucks - boo hoo.
[quote]hockechamp14 wrote:
blitzkrg wrote:
Plenty of oil in alaska…
If the libs hadnt blocked us from anwr we’d have lower prices…
every day you hear prices are up due to “fear”
fear of this and fear of that.
they are worried about a disruption in supply.
Yes i know it would take a while to get anwr to market… but if you know you’re going to win the lotto next week, will you give a shit about pissing away your pay check today? no…
so blame the libs and blame the tree huggers.
Apparently I’m a so called “tree hugger” because I understand how the enviornment works. The consumption of gasoline in cars and the problems with ozone depletion and global warming are real.
The government are douschebags because they’re supossed to be taking care of things like this, not running away.[/quote]
Nobody understands global warming. That is why there is a huge debate among scientists about how much mans CO2 emissions contribute.
Do not trust the MSM coverage of the issue. It is incredibly biased.
When the big report was issued in June it was determined that the scenario was “plausible”. When CNN reported this they said the report claimed it was “likely.”
[quote]Kailash wrote:
Race Fan wrote:
The Abathasca oil sands are loaded with a tar that can be refined for crude oil refineries to convert to normal products (kero, gasoline, avjet, etc). The difference between Can. and the Mid East is it costs anywhere from 15-20 times the cost to extract it from the sand.
Those are worthless. It takes more energy to extract the oil from the sand than is gotten from the sand.
In fact, it takes more energy to pump the remaining oil out of old wells than is gotten from those wells. Once the pressure decreases, the remaining oil is trapped unless energy is spent forcing down water or otherwise increasing again the pressure under ground.
Read about peak oil. It’s not just about how much is left, but about how much can be extracted without actually losing energy. And how much that will still cost. The remaining oil will just increase by about a $1 gal every year until it can only be useful for special projects. You certainly won’t be able to use oil in 5 to 10 years from now.[/quote]
Totally false. It is more expensive to extract the oil but there is still a huge postive energy balance.
Those peak oil websites are all frauds.
[quote]PGA200X wrote:
I dont buy this supply and deman bullshit. Its not like people all of the sudden woke up and said “lets drive 1.75 time more than we used to or lets buy 1.75 times of a car.” Peoples demand hasnt gone up.
Oil prices were raised becuase of all of these “issues,” yet oil companies set ridiculous record profits. How more blatently obvious does it have to get? With all of the “broken pipes” that needed to be repaired after Katrina how the fuck would an oil company show record profits when it had all of these “repairs” to perform? Its fucking ridiculous.
Thats it! I’m getting a fucking moped![/quote]
The oil companies are just turning a profit now. As has been noted before in the recent past oil companies were not making much money (relative to their size).
They will do what they can to keep making the profit.
Your moped is a great idea.
[quote]atroopan wrote:
…
p.s. - we have already passed the peak of production in light sweet crude and will never produce as much of this beautiful stuff as we did sometime middle of last year. That really sucks - boo hoo.[/quote]
Good post and good point. There is plenty of oil on the planet but the stuff we will be forced to use is more difficult to work with than the light sweet crude.