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The cost of Middle East oil
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KimchiNinja



Joined: 01 May 2012
Location: Gangnam

PostPosted: Mon Oct 13, 2014 9:52 pm    Post subject: Reply with quote

GENO123 wrote:
Can cars run on natural gas? And of course there r electric cars as well


Dunno what the point is...
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GENO123



Joined: 28 Jan 2010

PostPosted: Mon Oct 13, 2014 9:59 pm    Post subject: Reply with quote

I dont think the us is in bad shape when it comes to energy. China onthe otherhand ...
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GENO123



Joined: 28 Jan 2010

PostPosted: Thu Oct 16, 2014 9:46 pm    Post subject: Reply with quote

Quote:
CARACAS, Oct. 16 (Xinhua) -- Venezuelan President Nicolas Maduro on Thursday blamed Washington for the slump in global oil prices.

Washington is "flooding" the market with cheaper shale oil to bring down prices and ultimately impact Russia and other oil-producing nations, Maduro said at a televised Cabinet meeting.

"The U.S. and its allies want to affect oil prices to harm Russia, which produces around 10 million barrels per day, and that is the vital income of their economy," said Maduro.

Market analysts say a 20-percent dip in oil prices since June is driven by lower economic growth and weak demand for crude in Europe, along with signs that the core Gulf members of the Organization of Petroleum Exporting Countries are in no hurry to cut production.

Maduro called for an extraordinary meeting of the group to explore ways to stabilize international oil prices.
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mithridates



Joined: 03 Mar 2003
Location: President's office, Korean Space Agency

PostPosted: Fri Oct 17, 2014 3:48 am    Post subject: Reply with quote

No surprise Venezuela is not happy with this. The US is mostly happy to not have to import as much, and if Russia and Venezuela suffer at the same time so be it. They could easily replace a lot of Venezuelan crude at the same time by letting the rest of Keystone XL be built but at the same time their lack of haste (6 years and counting) in doing so shows just how little they care anymore, because while they wait it's slowly being replaced by local production anyway:

http://www.bloomberg.com/news/2013-08-26/keystone-s-impact-on-venezuela-muted-by-waning-imports.html

The way Enbridge is building their new line both inside Canada and inside the US but just leaving the part that crosses the border untouched (the only spot that would require a federal permit) is telling.

http://business.financialpost.com/2014/03/04/enbridge-and-u-s-partner-to-spend-7-billion-to-nearly-double-capacity-of-cross-border-pipeline/?__lsa=09ed-b553

Quote:
Enbridge Inc. said it will spend $7-billion to nearly double capacity on a major Canada-to-U.S. oil pipeline without triggering a review by the U.S. State Department, skirting potential delays that have sidelined rival export projects.

Replacing Line 3 — one of six tubes that comprise that mainline network — enables Enbridge to increase deliveries of crude to the U.S. without seeking a presidential import permit, a process that has delayed TransCanada Corp.’s Keystone XL for years.

The 1,660-kilometre Line 3 is currently restricted to running 390,000 barrels a day. Enbridge said the new pipeline would run at a maximum capacity of 760,000 barrels.
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GENO123



Joined: 28 Jan 2010

PostPosted: Fri Oct 17, 2014 7:03 am    Post subject: Reply with quote

Peak oil happened and no one noticed
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mithridates



Joined: 03 Mar 2003
Location: President's office, Korean Space Agency

PostPosted: Wed Oct 22, 2014 3:36 am    Post subject: Reply with quote

And on a related subject, look at who is going to be Japan's #2 LNG exporter in 2020.

http://asia.nikkei.com/Markets/Commodities/Japan-expects-70-of-its-LNG-to-come-from-North-America-Australia-by-2020
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GENO123



Joined: 28 Jan 2010

PostPosted: Thu Nov 27, 2014 11:57 pm    Post subject: Reply with quote

http://www.marketwatch.com/story/americans-lets-be-thankful-that-us-oil-is-pulverizing-opec-2014-11-26

Opinion: Americans, let’s be thankful that U.S. oil is pulverizing OPEC


Oil prices collapse as OPEC decision hits hard

http://www.marketwatch.com/
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GENO123



Joined: 28 Jan 2010

PostPosted: Fri Nov 28, 2014 12:04 am    Post subject: Re: The cost of Middle East oil Reply with quote

KimchiNinja wrote:
KimchiNinja wrote:
Cost of oil per barrel $85
Cost of war per barrel $154
Cost of oil from ME, per barrel, $239


Hmm, what does it all mean?

Well I guess it means variable cost is $85, but there are fixed costs of $154 per barrel for the USG to keep this oil flowing. Since the USG doesn't have the money (revenue can barely cover basic government operations) it borrows money from China to pay for it. And when China doesn't want to loan any more money, the USG just prints money like crazy to hold things together.

Because if they leave the ME, either a) someone else moves in, or b) those oil producing countries start making their own rules (as they did in the 1970s), and the whole USA game falls to pieces. Why? Because then the Middle East has them by the energy balls, China the creditor has them by the financial balls, plus the whole petrodollar thing.

House of cards
.


Little River Band - Lonesome Loser

https://www.youtube.com/watch?v=MNqqs4h4M7c
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mithridates



Joined: 03 Mar 2003
Location: President's office, Korean Space Agency

PostPosted: Thu Dec 11, 2014 7:08 am    Post subject: Reply with quote

http://www.bloomberg.com/news/2014-12-11/america-getting-rid-of-oil-addiction-as-price-plummets-amid-glut.html

Quote:
The shale boom has driven U.S. output to the highest on a weekly basis since 1983, with oil production up 65 percent in just five years and the country supplying 89 percent of its own energy in 2014. The U.S. will export more energy than it imports by 2025, Wood Mackenzie Ltd. said in an October research note. The Energy Information Administration forecasts a 0.7 percent increase in demand next year; analysts surveyed by Bloomberg expect the economy to expand four times faster.
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GENO123



Joined: 28 Jan 2010

PostPosted: Mon Jul 04, 2016 4:46 pm    Post subject: Reply with quote

http://www.ft.com/cms/s/0/7525f1dc-41d6-11e6-9b66-0712b3873ae1.html#axzz4DUTESl2K


US oil reserves surpass those of Saudi Arabia and Russia
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GENO123



Joined: 28 Jan 2010

PostPosted: Mon Jul 04, 2016 4:47 pm    Post subject: Re: The cost of Middle East oil Reply with quote

KimchiNinja wrote:
KimchiNinja wrote:
Cost of oil per barrel $85
Cost of war per barrel $154
Cost of oil from ME, per barrel, $239


Hmm, what does it all mean?

Well I guess it means variable cost is $85, but there are fixed costs of $154 per barrel for the USG to keep this oil flowing. Since the USG doesn't have the money (revenue can barely cover basic government operations) it borrows money from China to pay for it. And when China doesn't want to loan any more money, the USG just prints money like crazy to hold things together.

Because if they leave the ME, either a) someone else moves in, or b) those oil producing countries start making their own rules (as they did in the 1970s), and the whole USA game falls to pieces. Why? Because then the Middle East has them by the energy balls, China the creditor has them by the financial balls, plus the whole petrodollar thing.

House of cards.



Rolling Eyes
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young_clinton



Joined: 09 Sep 2009

PostPosted: Tue Jul 05, 2016 6:25 pm    Post subject: Reply with quote

GENO123 wrote:
Who has more oil coal natl gas & farm land the USA or China?



The US has more natural gas reserves than it has oil and more coal reserves than oil.
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young_clinton



Joined: 09 Sep 2009

PostPosted: Tue Jul 05, 2016 6:29 pm    Post subject: Reply with quote

Titus wrote:
Anytime you see "oil" as a reason for American behavior you have to in your head do a control F replace oil - Israel and then things start making more sense.


I like Israel. The "anti-Semitic" (if you listen to Liberal Democrats) Nixon guaranteed payment by executive order to the French for French Mirage fighters during the six day war, when Congress refused to give weapons to the Israelis. I like Nixon too.


Last edited by young_clinton on Tue Jul 05, 2016 6:39 pm; edited 1 time in total
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young_clinton



Joined: 09 Sep 2009

PostPosted: Tue Jul 05, 2016 6:36 pm    Post subject: Reply with quote

GENO123 wrote:
Can cars run on natural gas? And of course there r electric cars as well

It seems the us doesnt even want canadas heavy oil


That's true there are natural gas cars. The problem I think is that it's harder to transport natural gas than gasoline, otherwise perhaps it would be time to tell the Arabs and Iranians to flake off and starve. The only electric cars out are Hybrids. Full electric cars are a long ways off.
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young_clinton



Joined: 09 Sep 2009

PostPosted: Thu Jul 07, 2016 5:52 pm    Post subject: Reply with quote

Oil prices dropped down quite nicely today. Laughing Not so good for those with investments in oil, but for those that want to see the Saudis riding camels it's great. Laughing
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