$100 A Barrel Oil is on the Way

#226
#226
TennTradition said:
There was an explosion at a Texas refinery this morning....it looks like there's a huge fire rolling out of the place. The refinery is just north of I-20 near Midland ... I don't know if it is a big refinery or not. I wonder if this will put a crunch on gasoline....or diesel/jet fuel, etc.?

Edit: It sounds like they process 70,000 bbl of crude a day...
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That place was constantly being rebuilt, added onto, or upgraded... I saw the smoke from up in the sky & we could still see it from the interstate, too. It died down a few hours after my plane landed. It must've been pretty intense because we talked to someone a gas station who felt it, and she was way over in Odessa at the time. I've passed that refinery dozens of times... I always thought of it as safe... :hmm:
 
#227
#227
In Australia they modify cars to run on a combination of natural gas and gasoline. They install a compressed air tank in the trunk for the natural gas. Some cars in the U.S. have been modified to do this, i.e. police cars. Dangerous having a compressed air tank in the trunk, that goes without saying.
 
#228
#228
oklavol said:
In Australia they modify cars to run on a combination of natural gas and gasoline. They install a compressed air tank in the trunk for the natural gas. Some cars in the U.S. have been modified to do this, i.e. police cars. Dangerous having a compressed air tank in the trunk, that goes without saying.
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Is it a compressed air tank - or is it compressed natural gas in the tank?
 
#230
#230
Boone Pickens (bill gates of oil) was just on CNBC and he is currently short Nat Gas (which is trading at $9) He als said oil will pull back $15 from the current $100 level. But he said that will be shorted lived as oil will retest 100 or more later in the year.
 
#231
#231
I guess this means we will be paying $3+ at the pumps all summer. With "big oil's" profit margins this thing makes me angry. As a realtor my gas bill each month a couple years ago used to be $350ish and is now at $700+ per month. that sucks
 
#232
#232
Sjernigan88 said:
I guess this means we will be paying $3+ at the pumps all summer. With "big oil's" profit margins this thing makes me angry. As a realtor my gas bill each month a couple years ago used to be $350ish and is now at $700+ per month. that sucks
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please explain how their profit margins are out of line
 
#233
#233
Man I am all for big business making money and the Government staying as far away from it as possible, but from all reports I have read they posted the biggest profit margins in history over the past couple of years. With oil in demand as the world grows like it is the of course the price will increase and margins will increase also. I am not saying we should do anything different than what is being done. Sure it would be nice for "big oil" to cut prices to help out the little people, but if it was my company would I do it? Probably not. Do I think government should step in? Nope that is the price we pay for a free market. But can I be angry about having to pay over $3 per gallon? You are dang right I can be. I know the price is controlled by supply and demand, and conflicts in oil heavy regions affect the price, but I am still allowed to get pizzed off about it. And if I need to post the stories I have read I am sure I can dig something up, but I would say you have read them too, so go ahead and tell me the real story and impress me with your super savy faux political "smartz".
 
#234
#234
Sjernigan88 said:
Man I am all for big business making money and the Government staying as far away from it as possible, but from all reports I have read they posted the biggest profit margins in history over the past couple of years.
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dollars not margins. Their margins are actually behind many other popular companies you use. Politics has nothing to do with your point being incorrect.
 
#235
#235
well generally the larger oil companies cost of production is fairly flat so their margins are improving.
 
#237
#237
Sjernigan88 said:
But can I be angry about having to pay over $3 per gallon? You are dang right I can be. I know the price is controlled by supply and demand, and conflicts in oil heavy regions affect the price, but I am still allowed to get pizzed off about it.
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but you're obviously not mad enough to quit buying their product.

Sjernigan88 said:
As a realtor my gas bill each month a couple years ago used to be $350ish and is now at $700+ per month. that sucks
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and the price 2 years ago was $2.42/gal

http://www.randomuseless.info/gasprice/gasprice.txt
 
#238
#238
Yeah you are right, let me just throw my clients on the back of my rickshaw and carry them to their potential dream home. I mean really, what other choices do I have? Biofuel is about the same price, hydrogen, ethenol, technology is still crazy expensive so I will be angry and continue to complain until the technology advances where I have another possible option, fair 'nuff?
 
#240
#240
droski said:
what type of car do you drive? you do have some options
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I guess you are right I do have some options, I drive a Ford Sportrac, the 4 door truck, with the small V6, I get anywhere between 19-25 mpg out of it. I have had it less than a year and have put over 25k miles on it. So I guess I am part of the problem, but I can still complain about the prices.
 
#242
#242
If only the governemt would open up ANWAR.

It holds 10 Billion barrels and could produce 1.4 million barrels a day, which exceeds what the lower 48 states produce daily.
 
#243
#243
VolsNSkinsFan said:
If only the governemt would open up ANWAR.

It holds 10 Billion barrels and could produce 1.4 million barrels a day, which exceeds what the lower 48 states produce daily.
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10 billion barrels doesn't seem like a lot..that would give us energy independence for what....about 2 years? Or, am I off on that?
 
#244
#244
Saudi Arabia claims to have 250 billion barrels of oil in proven reserves which is a quarter of the world oil reserves. Iraq has 115 billion barrels. Venezula claims to have 350 billion barrels, but they are full of it and the oil is very poor quailty (Only USA refiners can process it).

So 10 Billion is a drop in the bucket, compared to Arab countries. Who would you rather give your money to?? Exxon or Saudi Arabia?

If we did drill in ANWAR, some interesting things would occur beside the price of oil going down. The dollar would get stronger, etc.

Oil is a very interesting product of our earth and 200 years from now, people are going to look back in history and go wow, these people had an amazing thing, and what did they do with it, Burned it??
 
#245
#245
VolsNSkinsFan said:
Venezula claims to have 350 billion barrels, but they are full of it and the oil is very poor quailty (Only USA refiners can process it).
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amazing how the media freaked when Chavez said he would cut off the US and never mentioned we are basically the only ones who can use it. Although the lax laws in China would allow them to throw up a new refinery in a few months :p
 
#246
#246
TennTradition said:
10 billion barrels doesn't seem like a lot..that would give us energy independence for what....about 2 years? Or, am I off on that?
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a two year cushion that could provide the US with the necessary time to develop viable and cheap alternative fuel sources. Imagine the money being spent on Middle East oil going instead to American companies for R&D.

Drilling in ANWR would have the added benefit of forcing OPEC to take a look at one of their largest customers in a different way. Right now, they know they have the US by the short hairs. An oil independent US is not something they want to see.
 
#249
#249
They dont own anything in Iran, and Saudi Arabia's oil is owned by the state owned oil company Aramco.

I know Hailiburton is paid by various Arab countries to dill wells for them.
 
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