Good news. Saudi's up oil production by 200k barrels a day.
16 June 2008, 10:08 PM
#32
Jesus, will you lot stop Infracting NACRO, where is the sport in it ?
I know he winds you up, don't let him, come back with a remark that cuts to the quick rather than reaching for the wimp button all the time, its like going running to teacher.
I know he winds you up, don't let him, come back with a remark that cuts to the quick rather than reaching for the wimp button all the time, its like going running to teacher.
16 June 2008, 10:09 PM
#33
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16 June 2008, 10:12 PM
#35
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I miss him when he's not around.
16 June 2008, 10:17 PM
#36
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16 June 2008, 11:18 PM
#37
Not that i am as well informed as some on the subject, but i seem to remember a few years ago that America had the largest oil reserves in the world, which at the time was located in the florida quase. And they were waiting for the rest of the world to run out before they drilled for it. And what with the oil reserves that have been found recently ( i forget where exactley) in some banana republic. i'm afraid much to the distain of others, mr narco is right.. im no world political expert, but even with the small amount of information i have gained over the years, it dose'nt take a rocket scientist to work out that there are basically a few at the top of the tree manipulating the markets for there own benifit. And the rest of us are basicly thier fodder to be fed upon as and when the need arises. the cost of living does'nt matter to these people as to them it's just a game of monopoly, that is being played way beyond the comprehension of most people, and we are fed one line of bull after another with a straight face by the various governments and mass media that is controlled by these same people! please before you make some quick jibe about spelling grammer or paragraphs and content of my post just try an comprehend exactly what it is that i am saying.. tupence..
16 June 2008, 11:20 PM
#38
16 June 2008, 11:26 PM
#39
16 June 2008, 11:32 PM
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17 June 2008, 04:49 AM
#42
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The problem with the term "peak oil" is it's misinterpretation. Peak oil is all about the "cheap" stuff being pumped out of the groung. In wells which "peak oil" has already struck, and closed them down many in the US, have something like upto 40%, still in the ground. It's just harder to get to.
The Western hemisphere has more oil reserves than all of the current OPEN countries put together, but it's the "bad" oil they have, costs mor eto extract and produces more pollution. The other issue also is that extracting this oil consumes more oil in the process.
Demand has not increased as much as price in the last year, there isn't more than double the demand as last year. Speculators, the weak US$ and the fact that Bush is leaving office are main drivers.
The Western hemisphere has more oil reserves than all of the current OPEN countries put together, but it's the "bad" oil they have, costs mor eto extract and produces more pollution. The other issue also is that extracting this oil consumes more oil in the process.
Demand has not increased as much as price in the last year, there isn't more than double the demand as last year. Speculators, the weak US$ and the fact that Bush is leaving office are main drivers.
17 June 2008, 06:53 AM
#43
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The problem with the term "peak oil" is it's misinterpretation. Peak oil is all about the "cheap" stuff being pumped out of the groung. In wells which "peak oil" has already struck, and closed them down many in the US, have something like upto 40%, still in the ground. It's just harder to get to.
The Western hemisphere has more oil reserves than all of the current OPEN countries put together, but it's the "bad" oil they have, costs mor eto extract and produces more pollution. The other issue also is that extracting this oil consumes more oil in the process.
Demand has not increased as much as price in the last year, there isn't more than double the demand as last year. Speculators, the weak US$ and the fact that Bush is leaving office are main drivers.
The Western hemisphere has more oil reserves than all of the current OPEN countries put together, but it's the "bad" oil they have, costs mor eto extract and produces more pollution. The other issue also is that extracting this oil consumes more oil in the process.
Demand has not increased as much as price in the last year, there isn't more than double the demand as last year. Speculators, the weak US$ and the fact that Bush is leaving office are main drivers.
17 June 2008, 11:23 AM
#44
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No worries on that count ATM , I despise the vile, feral, poorly educated, ill behaved, ugly and fat children I tend to see running around in countries like the UK.
That said there are some Alpha couples I know bringing up well behaved, strong, fit and intelligent children that I have a great deal of respect for so I guess never say never applies.
That said there are some Alpha couples I know bringing up well behaved, strong, fit and intelligent children that I have a great deal of respect for so I guess never say never applies.
I have to agree with what you say about oil prices though. Someone will be making a killing somewhere.
Les
17 June 2008, 12:33 PM
#45
NACRO, I didnt realise having children was an experiment in Eugenics ?
Perhaps in some cases it should be, granted, but I have witnessed some "Alpha couples" producing some really weird looking, socially inept and generally unpleasant mutant offspring.
We personally have three generally well balanced kids, of course the thirty grand a year on schools helps, still, not a massive hardship in the scheme of things.
Perhaps in some cases it should be, granted, but I have witnessed some "Alpha couples" producing some really weird looking, socially inept and generally unpleasant mutant offspring.
We personally have three generally well balanced kids, of course the thirty grand a year on schools helps, still, not a massive hardship in the scheme of things.
17 June 2008, 02:02 PM
#46
Yes if you believe what you've been told. Wasn't there a scandal a few years back with Shell over estimating their untapped reserves? Also, there may well be enough oil about to be used by my grandchildren, but I'd imagine it'd be a good deal more expensive per barrel than it is today (real terms).
sorry
17 June 2008, 02:08 PM
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17 June 2008, 02:23 PM
#49
If they could increase production more than 200k bpd quickly, they would (I think, and yes, I would).
17 June 2008, 02:28 PM
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I think it's more a case of ramping up the production as much as possible to take advantage of the high oil price. If I was a Saudi Sheik, I'd be pumping out as much oil as possible as well... What's the point of selling it for 70 dollars a barrel when you can get 140 today.
If they could increase production more than 200k bpd quickly, they would (I think, and yes, I would).
If they could increase production more than 200k bpd quickly, they would (I think, and yes, I would).
17 June 2008, 04:07 PM
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There's a point at which the price of oil leads to a dramatic drop in demand in the short and long term. If very high prices are sustained then demand will drop and other sources of energy will be used instead of oil ie. nuclear power. Therefore, a very high price of oil is not such a boon for them as you think it is.
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