OPEC announces that the US can handle $100 / barrel of oil

[Blacky]

we're paying like $7.10 per gallon over here in ireland, it's fuckin ridiculous. In like the past 10 years the price of oil per barrel has dropped yet our petrol prices have gone up by like 50 cent(euro).

[Okin]

...And this is what I have to say.............















Fck:

OPEC
Exxon/Mobil
Sunoco
Shell
Gas Prices
The Police
FBI
CIA



er.... sorry, got a little carried away.

[shogunner]

Now I remember why I liked you so much... knew there was some solid people in the NorthEast

yeah.. born and raised in south texas..ended up in lala land at end of high school.

lookin south again..only so much i can take of weather, attitude, potholes, and northeast viewpoints... just sayn.

[LuckyBoyOne3]

We buy more, we get a bigger discount, and 2 years ago they said if they made $75/Barrell they would be happy... the economy has not gotten any better, therefore prices should remain the same. /discussion.

[shogunner]

inb4 drill in alaska- wahoo 90 billion barrels of oil- over a period of 50 years combined with 6-10 years of drilling and setting up infrastructure - that would put its peak production rate around 25 years into drilling- at which point based on the current consumption of petroleum products by America would put its total market share right around 1.4% of total US petroleum consumption per year

please someone try to say something stupid- this is what I live for- University of Vermont for my environmental studies degree and now GTown for Law-

hopefully not something stupid: for alaska alone sure this data is well.

However, by the NSURM findings in 06' Congress determined that producing fuels from the nation’s vast unconventional resources, including oil shale and tar sands, heavy oil, enhanced oil recovery, and coal liquids is very probable. This production is said to be possibly near 2.3 tillion barrels for shale alone.. then 400+billion tons of coal, which could be liquified for fuel..ala Germany WWII, the combination with tar crap and heavy oil looks at a predicted 3 centuries worth of fuel.

Not a perfect senario but it looks like we have more time to develop alternatives that will compete effectively since these sources will require much more work to make fuel.

I'm no scientist but that's what I got from the Dept of Energy 06' Model.

be kind.

[Zack01GC]

1. Shit sucks.
2. I'm broke.
3. Increased fuel prices suck.
4. Why do I have to pay $3.25/gal for 89? If I'm paying $3.25/gallon, I want that shit to be rocket fuel. Yep, spoiled American, that's me, and it's the truth.

I GOT IT... they're in with Toyota so we all buy Priuses. Bastards.

[da3bous]

http://www.msnbc.msn.com/id/40811733...il_and_energy/

That's right Kielan.. I actually read liberal blogs and websites as well



I would love to have a rational conversation on the thought of some sheiks determining what fair value is for a barrel of oil, and why we (the US of A) have allowed them to control said oil, despite at one point having full control of the oil fields in KuWait after Desert Storm in the 90's?


Disclaimer: I know that everyone else in the world pays more for gas, and we are a whiny bunch of American assholes.. not that I have made that point, there is no need to use it in response to the above question.

LOL except its russia that is pumping out the most amount of oil right now. Reserves and production are two given things.

BTW i am not sure if its still true but back when i was doing my research in 02/03 the US was producing and stockpiling oil and not using it. Instead buying foreign oil and that the prices we see reflected at the pump are more a reflection of US imposed taxes. Back then when i was doing my research for my thesis venezula was the largest oil PRODUCING country, IE selling and such through opec.

and yes you are whiney....have you bought gas in england lol?


BTW invade canada?

[da3bous]

inb4 drill in alaska- wahoo 90 billion barrels of oil- over a period of 50 years combined with 6-10 years of drilling and setting up infrastructure - that would put its peak production rate around 25 years into drilling- at which point based on the current consumption of petroleum products by America would put its total market share right around 1.4% of total US petroleum consumption per year

and no thats not from some libel blog- straight from a lecture of mine from Dr Cassidy Albright- lead project engineer for the Exxon Mobil corporation

there is a reason why Exxon Mobil is the largest hiring force for chemical engineers and environmental scientists- it because they realize that within this century the planet will be out of oil completely and that their business would be ruined- so when the oil does dry up- guess who is going to have all the patents to new plastics and fuels


Exxon Fucking Mobil

please someone try to say something stupid- this is what I live for- University of Vermont for my environmental studies degree and now GTown for Law-

very true, saudi with the largest known reserve had a lifetime of 60 years left unless they discover new oil.

Country Reserves [16] Production [17] Reserve life 1
109 bbl 109 m3 106 bbl/d 103 m3/d years
Saudi Arabia 230 37 9.7 1,540 66
Iraq 180 29 3.5 560 142
Canada 179 28.5 2.1 330 188
Iran 138 21.9 4.0 640 95
Kuwait 104 16.5 2.6 410 110
Venezuela 99 15.7 2.7 430 100
United Arab Emirates 98 15.6 2.9 460 93
Russia 60 9.5 9.9 1,570 17
Kazakhstan 47 7.5 1.4 220 93
Libya 41 6.5 1.7 270 66
Nigeria 36 5.7 2.4 380 41
United States 21 3.3 7.5 1,190 8
China 16 2.5 3.9 620 11
Qatar 15 2.4 0.9 140 46
Algeria 12 1.9 2.2 350 15
Brazil 12 1.9 2.3 370 14
Mexico 12 1.9 3.5 560 9
Total of top seventeen reserves 1,243 197.6 63.5 10,100 54

[shogunner]

very true, saudi with the largest known reserve had a lifetime of 60 years left unless they discover new oil.

supposedly Venezuela just found a buttload of black.

[Skibum291]

hopefully not something stupid: for alaska alone sure this data is well.

However, by the NSURM findings in 06' Congress determined that producing fuels from the nation’s vast unconventional resources, including oil shale and tar sands, heavy oil, enhanced oil recovery, and coal liquids is very probable. This production is said to be possibly near 2.3 tillion barrels for shale alone.. then 400+billion tons of coal, which could be liquified for fuel..ala Germany WWII, the combination with tar crap and heavy oil looks at a predicted 3 centuries worth of fuel.

Not a perfect senario but it looks like we have more time to develop alternatives that will compete effectively since these sources will require much more work to make fuel.

I'm no scientist but that's what I got from the Dept of Energy 06' Model.

be kind.

true- but here is the only problem with shale oil- similar to gas- to get it you have to pump a mix of solvents and super high pressure water blasting into local aquifers and ground water- whihc is okay if you can control it- the problem is that shale is extremely widespread- unlike an oil well where you dig down in 1 spot to extract- with shale you have to move your operation on an almost yearly basis- plus the fact that the amount of water required to pull out the 2.3 trillion barrels worth of oil is around 4 times the freshwater supply of the planet- so this too would take years and years of slow extracting

and the largest problem is that since its is so widespread it will cost more because they have to pay for land or drilling rights and once people catch on the cost will go even more

here is my prediction- oil will still be used until it becomes to expensive0 then all the alternatives that we have heard about for years will come to fruition and will be owned by the major petrol companies now

for instance the largest supporter of funding for algae that produces methane which can be burned as a fuel is the UNited Arab Emirates- best scientists in the world regarding that topic are all living quite comfortably over there

[digitalauthor]

And us american's will be the last ass holes on earth burning our alaskan oil long after everyone else runs on algae and solar power or whatever. I really just want to figure out how to equip my house with a win mill or two and stop paying for electricity. I think that will save me/the world more aggrivation than anything. And there'd be drastically less oil wasted on heating our houses that we can all spend cruising, drifting and racing. Sucks paying $3.35/gal like I did today. I feel awful for you poor people in europe clocking that kinda dollars for petrol. Especially if you include in the exchange rate.