IEA Warns of Oil-Production Crunch

[Jenks]

Re: IEA Warns of Oil-Production Crunch

Whoa, Canada #2???

INVADE!!!

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

actually, that is not true. there are oil feilds in the mid west that are protected under enviornmental concerns that have oil. also, there was a recent discovery of an oil feild due south east of the gulf of mexico. add in alaska and the canadian perma frost oil and the north american nations will end up being the last guys standing.

there is not that much there that it would make even a dent in the needs of the US. You guys use 20 million barrels of oil a day. Even if you were to drill ANWR and these protected fields in the midwest, it wouldn't make a signifiicant difference.

what you do have alot of is unconventional gas. mainly shale gas and coal bed methane...

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

Whoa, Canada #2???

INVADE!!!

bring it on!

[88Mariner]

Re: IEA Warns of Oil-Production Crunch

^ why invade when you can have the NORTH AMERICAN UNION

DUN-DUN-DUNNNNNNNNN!

fuck.

could this not be THE motive for the NAU?

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

^ why invade when you can have the NORTH AMERICAN UNION

DUN-DUN-DUNNNNNNNNN!

fuck.

could this not be THE motive for the NAU?

we'll pass, thanks

more than happy to sell you oil at $135 a barrel though. i work for an oil company, so you can just mail cheques directly to me.

[88Mariner]

Re: IEA Warns of Oil-Production Crunch

sure. so long as you're also paying at the pump, too. remember, even though you work for an oil company, you gotsta pay fo' gas too. just like your friends, neighbors, and relatives.

but you know...135 a barrel isn't so bad. it's the goddamn taxes the gov't puts on it. It's 20% a gallon up in chi-town. poor fuckers.

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

yes, but my salary is directly linked to oil prices...the more we as a company make, the more i do. most of the people in my city (calgary) are either directly or indirectly paid by the oil industry. we'd much rather have high prices.

[Jenks]

Re: IEA Warns of Oil-Production Crunch

Interesting predicament to live off the misfortune of others isn't it jeff?

I used to sell oxygen to people with respiratory failure, i know what it's like.

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

heh, just being honest. houston is in the same boat as us.

and i can't really sympathize with the average consuer, since studies have shown people haven't decreased their oil consumption at all with the rise in prices. people are still driving around in hummers and monstrous SUVs.
the people i feel for are the ones barely scraping by who've seen an increase in transportation costs.

[toasty]

Re: IEA Warns of Oil-Production Crunch

the people i feel for are the ones barely scraping by who've seen an increase in transportation costs.

Seriously. I think about my old secretary that used to drive in 65 miles, one way, to work each day. I wonder what she's doing now, because there's no way that's cost effective nowadays, even if they do pay more in St. Louis than in her po-dunk little town.

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

Interesting predicament to live off the misfortune of others isn't it jeff?

I used to sell oxygen to people with respiratory failure, i know what it's like.

ohh, and just to put things in perspective. i am no different than someone who invests in an oil company (or any other commoditites company that is making alot of money with the rise in prices). anyone who owns the S&P 500 profits when the price of oil companies' stock goes up. if you have any oil companies in a mutual fund, pension fund, or any other investment vehicle...then you profit when the price of oil goes up.

just food for though

[AntonyM]

Re: IEA Warns of Oil-Production Crunch

Just saw 4.00 dollars for a gallon of gas today
and summer has not even really hit yet, could easlity
top 5 dollars by summers end. Cannot imagine how much
it is in the UK or in Europe,

[CactusBeats]

Re: IEA Warns of Oil-Production Crunch

Whoa, Canada #2???

INVADE!!!

Ever hear of the oil sands? We in the US are getting a lot of our oil from there now (northeastern Alberta). They just put in a new 42 inch pipeline near where I live that will carry 500,000 barrels a day from Alberta to near Chicago where it will we refined. Actually, the oil is called bitumen until the sand/sludge is removed from it. They have to combine a solvent with the bitumen just to make it liquid enough to flow in the pipe. When they refine the bitumen they separate the solvent out of it and pipe that all the way back to Alberta in a smaller pipe. I think it's over a thousand mile journey for this bitumen. It only pays to do this when oil is over $30/barrel, which looks rather permanent now.

Check these out
Everyone's Downstream | Oil Sands Truth: Shut down the Tar Sands
The Oil Sands Story
Tar Sands • Hubbert Peak of Oil Production

Canada has a lot of oil. Russia is also well-positioned having barely tapped its huge reserves.

For the last 100 years, oil was the solution. For the next 100 years or more, oil is the problem.

[CactusBeats]

Re: IEA Warns of Oil-Production Crunch

Just saw 4.00 dollars for a gallon of gas today
and summer has not even really hit yet, could easlity
top 5 dollars by summers end. Cannot imagine how much
it is in the UK or in Europe,

Just heard yesterday on NPR that in the UK gasoline is over $10/gallon (2.55 to 2.60/litre) and diesel is over $11/gallon.

Everyone thinks this is bad, and it is, but IMHO we ain't seen nothing yet.

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

Actually, the oil is called bitumen until the sand/sludge is removed from it. They have to combine a solvent with the bitumen just to make it liquid enough to flow in the pipe.

They don't remove anything from the bitumen (there is no sand in it when they put it in the pipeline). The bitumen itself is a very thick, long-chain hydrocarbon - literally the viscocity of tar, hence the name. it has a low API gravity. normal brent blend crude is about 30 degrees API, while heavy oil is 8-12 degrees.

http://en.wikipedia.org/wiki/API_gravity

The refining of heavy oil breaks down the very long chain hydrocarbons into 'lighter' oil...which is called synthetic crude oil (because it first had to be upgraded to the standard crude you think about when you think 'oil').