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re: Oil producers in a ‘dire situation’ and unable to ramp output, says Oxy CEO
Posted on 3/8/22 at 10:54 pm to Lima Whiskey
Posted on 3/8/22 at 10:54 pm to Lima Whiskey
quote:
China will just replace us as customer.
Pretty much. Or India. A US embargo of Russian oil really isn’t all that meaningful for either side in the grand scheme of things. An EU embargo - particularly on Russian gas - would be devastating, but it would also be horrible for the EU.
At this point I think Putin pulling the plug on Europe is probably just as likely as Europe banning Russian energy imports. It looks like a game of chicken and Putin doesn’t seem to be blinking. Maybe I’m crazy, but I wouldn’t be surprised if he chose to let the world economy burn rather than back down and look weak.
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Posted on 3/8/22 at 11:59 pm to ragincajun03
Dude. There are publically traded ETFs that are specifically focused. RFX is an example. It is leveraged investments in Russian assets it stopped trading... The same companies also have funds in "emerging markets" some of the highest risk funds are in Africa and south American plays. Whether it be commodities or Telecom etc... Companies like black rock, g. Sachs, VanEck... The list goes on. That just is the surface tho. There are players all along the way. Behind the scenes in certain industries that make up shite... Basically a revolving line of made up stocks and commodity contracts that are back door completely risk free profits.
It would be like the manager of the Kroger shortening the date of expiration on meats while owning a transportation company that pays pennies on the dollar to take the "expired" meats off the hand of kroger.
It would be like the manager of the Kroger shortening the date of expiration on meats while owning a transportation company that pays pennies on the dollar to take the "expired" meats off the hand of kroger.
Posted on 3/9/22 at 9:08 am to Bunk Moreland
quote:
My point is, most of the easily discovered, easily produced oil on this planet is gone.
no it isnt
peak oil as currently described is BS, you cant pretend to know the peak of something until you know its end point.
until every square inch of earth is shot in seismic and every area has been assesssed how can we pretend to know what is out there?
the US Coasts alone are ripe with oil and gas un-discovered
Posted on 3/9/22 at 9:11 am to Freedom75
It’s still affecting every industry and will for years to come. We can get parts, we can’t get fork lifts, we can’t get new vehicles, I can keep listing if you’d like…the supply chain issues are real and will take years to get back to normal.
If someone needs to drill a well but can’t get the equipment to do so, wtf are they supposed to do?
If someone needs to drill a well but can’t get the equipment to do so, wtf are they supposed to do?
Posted on 3/9/22 at 9:23 am to Korkstand
quote:
It's pretty common for an EV to schedule charging during off-peak hours. And as backfeed chargers become common, plugging in your EV when you get home will actually ease the load on the grid, in addition to possibly making some cash via time-of-use arbitrage for those with varied billing. Throw in how long it will take for people to buy EV's in significant numbers and the "overloaded grid" concerns are way overblown.
quote:
California, Facing Power Crisis, Frets Over Electric Car Charging Routines BY MEGHAN ROOS ON 6/21/21 AT 5:57 PM EDT
I even used Newsweek so you cant attack the messenger
Posted on 3/9/22 at 9:26 am to nugget
quote:
Look man, the whole world can see you people are in over your head. You took an economy that was artificially depressed due to COVID, and you shite the bed. All you had to do was get the frick out of the way and the economy would have went back to where it was. You pussies just took it as an excuse to regulate the private sector and grow the government. And the best part, you’ve inflated the currency so much that your “Black and Brown” constituents can no longer afford the life they had before all this.
Posted on 3/9/22 at 9:52 am to supatigah
quote:quote:I even used Newsweek so you cant attack the messenger
California, Facing Power Crisis, Frets Over Electric Car Charging Routines BY MEGHAN ROOS ON 6/21/21 AT 5:57 PM EDT
You're looking at a state that has long had grid issues since way before EVs and solar/wind were so common, and the state with the most EVs and the most solar. This is the perfect storm for trying to break the grid, and still per your link they're just asking people to voluntarily charge at specific times. Like I said, this issue is overblown.
Most states/regions have excess capacity at night, while California has excess capacity during the day due to their extensive use of solar. It's not that hard to understand, I don't know why folks have so much trouble with it.
Posted on 3/9/22 at 10:20 am to Korkstand
quote:
You're looking at a state that has long had grid issues since way before EVs and solar/wind were so common, and the state with the most EVs and the most solar.
no shite, it is also the state with the highest EV adoption rate
quote:
This is the perfect storm for trying to break the grid, and still per your link they're just asking people to voluntarily charge at specific times.
the article was from last summer when they were facing rolling brownouts and blackouts across the state, they were trying to manage the drain back then. cant imagine it has gotten better with $6-7 dollar gas and the WH telling people to buy EVs for over a year
you dismiss people being asked not to charge their EV after 6pm, but it is odd that you dont acknowledge after 6pm is when they would need to charge the most. After they return home from their work commute.
quote:
Like I said, this issue is overblown.
I purposefully used Newsweek to show how big of a problem it is being presented in the softest MSM way possible. Because we all know MSM media cant present ANY problems associated with saving the Earth
quote:
It's not that hard to understand, I don't know why folks have so much trouble with it.
we dont
Posted on 3/9/22 at 10:35 am to supatigah
quote:Yeah dealing with drought and wildfires. Again, perfect storm against EVs.
the article was from last summer when they were facing rolling brownouts and blackouts across the state, they were trying to manage the drain back then.
quote:In addition to leading in solar and EV adoption, California also leads in workplace charging stations. So they probably need to charge at home less often than in other states.
you dismiss people being asked not to charge their EV after 6pm, but it is odd that you dont acknowledge after 6pm is when they would need to charge the most. After they return home from their work commute.
quote:You have so much trouble understanding it that you don't even know you have trouble with it. This is common in cases of a complete and total lack of understanding.quote:we dont
It's not that hard to understand, I don't know why folks have so much trouble with it.
Do you know about time-of-use rates, and that rates are typically lowest when there is excess generating capacity? Do you understand how this market force influences consumer behavior?
Posted on 3/9/22 at 11:05 am to Bunk Moreland
quote:How long have you been a petrogeologist?
My point is, most of the easily discovered, easily produced oil on this planet is gone. It's a case of running faster and faster just to stay in place.
Posted on 3/9/22 at 11:10 am to Abstract Queso Dip
quote:
Hedge funds, wall Street, private equity, and investment banks DGAF how or where they make money as long as it is legal or kinda legal... Or completely illegal. 10 million dollar fine for a billion in revenue is just built in operating expenses... Nobody loses their job, CEO gets paid for increasing rev, and people make a shitload of money especially board members.
Then tell me why Exxon, She’ll, BP, and many other public ally traded O&G companies are being forced to live away from extremely profitable (especially at $100+/bbl) opportunities in order to become carbon neutral?
Posted on 3/9/22 at 11:48 am to supatigah
quote:
peak oil as currently described is BS, you cant pretend to know the peak of something until you know its end point.
until every square inch of earth is shot in seismic and every area has been assesssed how can we pretend to know what is out there?
To add to this, the idea of “easily discovered, easily produced” oil is a bit silly because “easily” is relative and constantly changing.
There was a time when you couldn’t find oil unless you either saw it bubbling to the surface or drilled wildcats with no idea whether there was even oil in the area. Now we have 3D seismic.
There was a time when formations that were spread out horizontally, but narrow vertically, were basically inaccessible because you had to drill a ton of vertical wells with narrow pay zones. Now we have horizontal drilling technologies.
There was a time when you couldn’t drill in water that was too deep for divers, both because you had no way to access the sea floor and because the structures required would have been prohibitively tall. Now we have ROV’s floating rigs/platforms, and subsea well heads.
There are thousands of other cases where technology has changed the definition of “easily” accessible - drill bit improvements, hydraulic fracturing, submersible pumps, downhole valves/gauges, LWD tools - the list goes on.
The accessibility of oil is better defined in economic terms nowadays. As long as demand is high, there will be price incentive to continue developing new technologies to access previously inaccessible formations. If/when we truly reach peak oil, it will likely be because another energy source has taken its place.
Posted on 3/9/22 at 11:53 am to Oilfieldbiology
quote:
Then tell me why Exxon, She’ll, BP, and many other public ally traded O&G companies are being forced to live away from extremely profitable (especially at $100+/bbl) opportunities in order to become carbon neutral?
To be fair:
1. Those announcements were not made in the current price environment.
2. I’ve always been under the impression that these moves were mostly political (to gain goodwill with the public and regulatory bodies, particularly for Shell in the EU), rather than being driven by access to capital. Although I could certainly be wrong.
Interestingly, Valero has done the opposite. They actually blacklisted a handful of vendors who made pledges to become carbon neutral.
This post was edited on 3/9/22 at 11:54 am
Posted on 3/9/22 at 11:58 am to lostinbr
I work for a major and I can tell you the ESG stuff is not purely political. Access to capital is absolutely affected by ESG.
Posted on 3/9/22 at 11:59 am to ragincajun03
Posted on 3/9/22 at 12:00 pm to ragincajun03
quote:
Oxy CEO Vicki Hollub
Bama Grad
Posted on 3/9/22 at 12:00 pm to ragincajun03
Good thing Biden cut so much fuel production in the states.
Why would we possibly need any of that?
Why would we possibly need any of that?
Posted on 3/9/22 at 2:56 pm to lsugradman
quote:
I work for a major and I can tell you the ESG stuff is not purely political. Access to capital is absolutely affected by ESG.
no question, there are major initiatives by big players to be out of the O&G Industry completely in 7-10 years.
Brenntag is a prime example.
Posted on 3/9/22 at 3:02 pm to lostinbr
quote:
To add to this, the idea of “easily discovered, easily produced” oil is a bit silly because “easily” is relative and constantly changing.
There was a time when you couldn’t find oil unless you either saw it bubbling to the surface or drilled wildcats with no idea whether there was even oil in the area. Now we have 3D seismic.
There was a time when formations that were spread out horizontally, but narrow vertically, were basically inaccessible because you had to drill a ton of vertical wells with narrow pay zones. Now we have horizontal drilling technologies.
two weeks ago I was in the same field as the Santa Rita #1 in Reagan County, TX. This was the first Permian Basin well in the first Permian Basin Field. The Santa Rita #1 was completed in 1923.
The well we were working on was completed in 1930. The well is still producing from its 4th workover (in 2009) and was paying from its 3rd zone in its 2nd formation in its 91 year life
Posted on 3/9/22 at 3:13 pm to supatigah
Wonder if it was a 99 year lease. .
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