IEA Warns of Oil-Production Crunch

[Jenks]

Re: IEA Warns of Oil-Production Crunch

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

ahhh...yeah that's different. i was literally making money off people's last breath. and the worse off they were, the more money i made. but someone had to do it. i think it's safe to say oxygen is a more important commodity than oil. well...hmmmm, that's probably debatable too... interesting topic for another day perhaps.

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

ahh! i thought you were being sarcastic about the oxygen thing!
and yes, there are definitely parallels between oxygen and oil. and someone does have to do it, so that someone might as well be me. i find the whole industry facinating.

[CactusBeats]

Re: IEA Warns of Oil-Production Crunch

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').

Very interesting stuff - I stand corrected. So, can you can get me a job up there in this lucrative industry? You said that pretty much everyone in Alberta is at least indirectly connected to this relatively new (for Canada) petro-industry.

I have read that up in Fort McMurray if you only make $70,000/year you are the working poor. Guys make $1000/day operating heavy equipment up there. It's literally like 1849 California at Fort McMurray. Don't even go there unless you have a job and a place to live BEFORE you get there, or else you will be living in a tent.

[day_for_night]

Re: IEA Warns of Oil-Production Crunch

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ya thats not an exageration. guys with no college education making 120k a year as a rig pig. welders, electricians, carpenters making 200k a year. but then...you're living in fort mac, which is square in the middle butfuck nowhere and is in the deep freeze 6 months of the year.

if you were a canadian citizen you'd have no problem getting a job...emigrating here though, is not as easy. and yes, you definitely need a job and a place to live. there are guys making six figures there who live in trailers cause there is a two year wait for housing.