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1
Posted on 9/13/18 at 10:07 pm to Kentucker
I don't think you understand the energy markets.
Posted on 9/14/18 at 4:16 am to fr33manator
quote:George Costanza would disagree.
What? This makes no sense
Posted on 9/14/18 at 8:32 am to DawgGONIT
All I see is more Baws making a honest day's wage on the rig. Who cares how much the fatcats in Houston make?
Posted on 9/14/18 at 8:37 am to tigersownall
quote:
You are on drugs if you think we run out of oil in our lifetime.
Bruh, something like 40 of the 54 oil producing countries on the planet are in irreversible decline. I rightfully get destroyed on the poliboard for the doom I was pushing 5-10 years ago, but I truly believe we have maybe a decade or two of economic growth left before global peak oil takes everything down. When this shot in the arm from unconventional drops, it will drop quick. Plus, there is an argument it's a bit of a ponzi scheme, anyway.
quote:
Energy: The shale oil “miracle” was a stunt enabled by supernaturally low interest rates, i.e. Federal Reserve policy. Even The New York Times said so yesterday (The Next Financial Crisis Lurks Underground). For all that, the shale oil producers still couldn’t make money at it. If interest rates go up, the industry will choke on the debt it has already accumulated and lose access to new loans. If the Fed reverses its current course — say, to rescue the stock and bond markets — then the shale oil industry has perhaps three more years before it collapses on a geological basis, maybe less. After that, we’re out of tricks. It will affect everything.
Posted on 9/14/18 at 9:09 am to Bunk Moreland
Newspapers publish this drivel every year.
The End of Oil is Closer Than You Think - 2005
The End of Oil is Closer Than You Think - 2005
quote:
Campbell reckons global peak production of conventional oil - the kind associated with gushing oil wells - is approaching fast, perhaps even next year. His calculations are based on historical and present production data, published reserves and discoveries of companies and governments, estimates of reserves lodged with the US Securities and Exchange Commission, speeches by oil chiefs and a deep knowledge of how the industry works.
According to Bill Powers, editor of the Canadian Energy Viewpoint investment journal, there is a growing belief among geologists who study world oil supply that production "is soon headed into an irreversible decline ... The US government does not want to admit the reality of the situation. Dr Campbell's thesis, and those of others like him, are becoming the mainstream."
Posted on 9/14/18 at 9:20 am to Kentucker
quote:
My contention is that taxpayers are not getting a return on our investments.
Taxpayers aren’t paying for production, companies are.
quote:
If we open up federal, taxpayer-owned lands for resource use
Latest figures I can find say 21% of US production is on federally owned land, which includes offshore.
quote:
give tax breaks to oil companies and aid them in competition with foreign governments and businesses, then we should see a decrease in the prices we, as individuals, have to pay for the oil products in our country.
Your whole premise here is extremely anti-capitalist.
quote:
Saudis pay only 91¢ per gallon. Russians pay $2.10. We should be paying less.
False, the gap is smaller and there’s a lot more cost in getting US product to market, and see above.
quote:
That's my biggest disappointment with the current political climate in this country. Government officials and businesses are working to improve our economy as it relates to international trade but no one is thinking about the status of the taxpayer. We want improvements at our level, too.
Again, what is your solution? You keep skimming the surface of saying that the government should regulate commodity prices but won’t explicitly say it.
Posted on 9/14/18 at 9:32 am to Kentucker
quote:
Saudis pay only 91¢ per gallon. Russians pay $2.10. We should be paying less.
And we would be if regulations didn't make it ridiculously expensive and time consuming to build new refineries.
It's the same shite that makes it almost impossible to build nuclear power plants in this country today.
Posted on 9/14/18 at 9:38 am to Centinel
Beyond the regulatory aspect, it’s just flat out easier to produce, transport, refine...the whole process in a desert or tundra than any major US basin, that’s before you even get to the marketing & distribution stage which is also a much harder task.
Posted on 9/14/18 at 9:51 am to Projectpat
quote:
Prices have fluctuated wildly during that time period, so no.
I'm not talking about where the oil is coming from, but it's absolutely true that production has increased steadily.
2008- 5,000 (thousands of barrels/day)
2009- 5,349
2010- 5,478
2011- 5,654
2012- 6,502
2013- 7,467
2014- 8,759
2015- 9,431
2016- 8,831
2017- 9,352
2016 is the only year since '08 where production decreased compared to the previous year.
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