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Andrew_S
Intermediate Crude
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Joined: Jan 09, 2005
Posts: 683
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 Posted: Thu Nov 01, 2007 2:26 pm Post subject: France Releases 285,000 Tons Crude From Strategic Stocks-Gov |
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| Quote: | LONDON -(Dow Jones)- France has released 285,000 metric tons of crude oil from its strategic petroleum reserve, a spokesman from the French finance ministry said Thursday.
The country has taken action as a result of a short-term shortage of crude oil and products, spokesman Jean-Marc Plantade said.
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The rest here (only 2 more sentences):
lloyds.com
Experts please enlighten us. |
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lateStarter
Intermediate Crude
Joined: Apr 06, 2005
Posts: 999
Location: 38 km west of Warsaw, Poland
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| Posted: Thu Nov 01, 2007 2:31 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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'Released' - what does that mean? Set free? I hope that doesn't mean sent to the US so those fat asses can continue to drive to McDonalds at the expense of the rest of the world.
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Bas
Moderator
Joined: Mar 26, 2005
Posts: 3773
Location: over here
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| Posted: Thu Nov 01, 2007 2:31 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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that's what? 2 or 3 million barrels? will probably not have a big impact on the market, if any at all.
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MacG
Light Sweet Crude
Joined: Jun 04, 2005
Posts: 1178
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| Posted: Thu Nov 01, 2007 3:31 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Bas wrote: | | that's what? 2 or 3 million barrels? will probably not have a big impact on the market, if any at all. |
Then why release it at all?
2-3 million barrels is equivalent to 3-4 million full tanks in personal vehicles, and that's a hell of a lot if it's NOT there when people expect to fill up.
Personally I'm spooked like hell for the first time. The combination of record crude prices and "normal" pump prices is not like anything I've seen before. I suspect stockpiles are drawn down and we might see "out of gas" any month.
I had not expected shortages. I had expected slowly rising prices slowly breaking our backs. Not a head crushing blow.
Also I wonder if someone is lying here? Why release both products and CRUDE to remedy refinery bottlenecks? Makes no sense at all. Who will refine the crude? |
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Armageddon
Fusion
Joined: Apr 13, 2005
Posts: 3018
Location: St.Louis, Mo
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| Posted: Thu Nov 01, 2007 4:26 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| lateStarter wrote: | | 'Released' - what does that mean? Set free? I hope that doesn't mean sent to the US so those fat asses can continue to drive to McDonalds at the expense of the rest of the world. |
If it wasn't for the US, you wouldn't be posting on this message board or for that matter, you wouldn't be on internet. Your computer would also suck without microsoft. |
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lateStarter
Intermediate Crude
Joined: Apr 06, 2005
Posts: 999
Location: 38 km west of Warsaw, Poland
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| Posted: Thu Nov 01, 2007 4:32 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Armageddon wrote: | | lateStarter wrote: | | 'Released' - what does that mean? Set free? I hope that doesn't mean sent to the US so those fat asses can continue to drive to McDonalds at the expense of the rest of the world. |
If it wasn't for the US, you wouldn't be posting on this message board or for that matter, you wouldn't be on internet. Your computer would also suck without microsoft. |
What a dumb crap. Do you know where the largest 'Carrier Hotel' in the world is located? I'll give you a clue (not the US). How about the top 4? Nope.... And, I'm pretty sure my laptop would run just fine without MS. My other 2 do just fine.
Nationalism is just as bad as the rest of the 'isms... Give it a break!
_________________
Remember, with globalisation "everyone is a winner" in the "race to the bottom". - rogerhb
Any sufficiently advanced technology is indistinguishable from magic. A.C. Clarke |
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Andrew_S
Intermediate Crude
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Joined: Jan 09, 2005
Posts: 683
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| Posted: Thu Nov 01, 2007 4:44 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Armageddon wrote: | | lateStarter wrote: | | 'Released' - what does that mean? Set free? I hope that doesn't mean sent to the US so those fat asses can continue to drive to McDonalds at the expense of the rest of the world. |
If it wasn't for the US, you wouldn't be posting on this message board or for that matter, you wouldn't be on internet. Your computer would also suck without microsoft. |
I hope this thread doesn't become a U.S. versus Europe slanging match.
I don't imagine that the internet was entirely invented in only one place: I believe there were parallel developments on both continents. I also don't imagine the World Wide Web was entirely invented by one person, but the major credit is given to one person who is European and worked in Europe I believe.
By the way I picked up the news story at PowerSwitch (UK).
But you're right about Microsoft. Maybe we should change to Linux. 
Oh, and obesity is just as prevalent in Western Europe.  |
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MacG
Light Sweet Crude
Joined: Jun 04, 2005
Posts: 1178
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| Posted: Thu Nov 01, 2007 4:51 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Armageddon wrote: | | lateStarter wrote: | | 'Released' - what does that mean? Set free? I hope that doesn't mean sent to the US so those fat asses can continue to drive to McDonalds at the expense of the rest of the world. |
If it wasn't for the US, you wouldn't be posting on this message board or for that matter, you wouldn't be on internet. Your computer would also suck without microsoft. |
Oops! You were inadvertently thinking about your own death? Right? Something triggered that line of thought?
There is research that shows that thinking about your own death triggers a rather interesting chain of reactions. Joining a flock, promoting a leader, crushing dissent and hating outsiders. All rational thought seems to be tossed out the window to be replaced by reptile-brain stuff as soon as you think about your own death. |
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Bas
Moderator
Joined: Mar 26, 2005
Posts: 3773
Location: over here
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| Posted: Thu Nov 01, 2007 4:54 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| MacG wrote: | | Bas wrote: | | that's what? 2 or 3 million barrels? will probably not have a big impact on the market, if any at all. |
Then why release it at all?
2-3 million barrels is equivalent to 3-4 million full tanks in personal vehicles, and that's a hell of a lot if it's NOT there when people expect to fill up.
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yes you're right, they didn't do this to manipulate prices and were probably anticipating an acute shortage, and that is spooky.
I was also expecting that the market would kill off demand before any shortages would occur, but over the course of this year it has become increasingly clear to me that higher prices alone will probably not do the trick. Acute shortages in the Western world may not be very far off. We'll see.
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- Abraham Lincoln |
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Andrew_S
Intermediate Crude
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Joined: Jan 09, 2005
Posts: 683
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| Posted: Thu Nov 01, 2007 5:04 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Quote: | | I was also expecting that the market would kill off demand before any shortages would occur, but over the course of this year it has become increasingly clear to me that higher prices alone will probably not do the trick. Acute shortages in the Western world may not be very far off. We'll see. |
In Finland average petrol prices are still well below the highs of 2006. How come?
The average price yesterday was €1.322 per litre for 95 octane. Last year it went over 1.40 maybe over 1.45 was the max. Is this happening elsewhere in Europe?
Strange.
polttoaine.net (Fuel prices in Finland) |
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MacG
Light Sweet Crude
Joined: Jun 04, 2005
Posts: 1178
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| Posted: Thu Nov 01, 2007 5:12 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Andrew_S wrote: | | Quote: | | I was also expecting that the market would kill off demand before any shortages would occur, but over the course of this year it has become increasingly clear to me that higher prices alone will probably not do the trick. Acute shortages in the Western world may not be very far off. We'll see. |
In Finland average petrol prices are still well below the highs of 2006. How come?
The average price yesterday was €1.322 per litre for 95 octane. Last year it went over 1.40 maybe over 1.45 was the max. Is this happening elsewhere in Europe?
Strange. |
Strange indeed. Seem to be happening all over the place. Not only strange, but extremely spooky in my book.
Not that logic seem to have had very much to do with world events in the past and cant be expected to have much to do with world events in the future either, but logic suggests that stockpiles are drawn down and we might face "out of gas" when trying to fill up any month now.
Dollar decline does not explain more than 1/3 of the price difference in Europe right now. |
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lateStarter
Intermediate Crude
Joined: Apr 06, 2005
Posts: 999
Location: 38 km west of Warsaw, Poland
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| Posted: Thu Nov 01, 2007 5:19 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Andrew_S wrote: | | Quote: | | I was also expecting that the market would kill off demand before any shortages would occur, but over the course of this year it has become increasingly clear to me that higher prices alone will probably not do the trick. Acute shortages in the Western world may not be very far off. We'll see. |
In Finland average petrol prices are still well below the highs of 2006. How come?
The average price yesterday was €1.322 per litre for 95 octane. Last year it went over 1.40 maybe over 1.45 was the max. Is this happening elsewhere in Europe?
Strange.
polttoaine.net (Fuel prices in Finland) |
Also strange in Warsaw. I have been watching fuel prices at the local Tesco. They have actually gone down from 4.39 PLN to 4.22 over the course of the last year (4.22 PLN = 1.15 Euros). No idea why...
_________________
Remember, with globalisation "everyone is a winner" in the "race to the bottom". - rogerhb
Any sufficiently advanced technology is indistinguishable from magic. A.C. Clarke |
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Andrew_S
Intermediate Crude
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Joined: Jan 09, 2005
Posts: 683
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| Posted: Thu Nov 01, 2007 5:19 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| MacG wrote: | ...but logic suggests that stockpiles are drawn down and we might face "out of gas" when trying to fill up any month now.
Dollar decline does not explain more than 1/3 of the price difference in Europe right now. |
Yes, I suppose dollar decline is only part of it. So if they're drawing down stockpiles that can't continue indefinitely.
But prices have been higher than last year for months, so surely the profit margin is less? Why would the companies do that? |
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JPL
Light Sweet Crude
Joined: Mar 18, 2006
Posts: 1211
Location: Last outpost of Civilisation
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| Posted: Thu Nov 01, 2007 5:24 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| Bas wrote: | | MacG wrote: | | Bas wrote: | | that's what? 2 or 3 million barrels? will probably not have a big impact on the market, if any at all. |
Then why release it at all?
2-3 million barrels is equivalent to 3-4 million full tanks in personal vehicles, and that's a hell of a lot if it's NOT there when people expect to fill up.
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yes you're right, they didn't do this to manipulate prices and were probably anticipating an acute shortage, and that is spooky.
I was also expecting that the market would kill off demand before any shortages would occur, but over the course of this year it has become increasingly clear to me that higher prices alone will probably not do the trick. Acute shortages in the Western world may not be very far off. We'll see. |
France here (grin). There is a series of increasingly wierd memos coming out of Paris at the moment. Certainly the French press is obsessed with 'carbon targets' and doing 'whatever it takes' to cut energy consumption - 50% reduction by 2015 etc.... The whole country is suddenly going oil-reduction mad (well, madder than usual, grin).
I have this increasing suspicion that Sarkozy (President) has got the PO message. Just a suspicion (grin).
JP |
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Bas
Moderator
Joined: Mar 26, 2005
Posts: 3773
Location: over here
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| Posted: Thu Nov 01, 2007 5:31 pm Post subject: Re: France Releases 285,000 Tons Crude From Strategic Stocks |
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| JPL wrote: |
France here (grin). There is a series of increasingly wierd memos coming out of Paris at the moment. Certainly the French press is obsessed with 'carbon targets' and doing 'whatever it takes' to cut energy consumption - 50% reduction by 2015 etc.... The whole country is suddenly going oil-reduction mad (well, madder than usual, grin).
I have this increasing suspicion that Sarkozy (President) has got the PO message. Just a suspicion (grin).
JP |
interesting....and wise too to prepare for the worst case PO-scenario; it's indeed hard to imagine that a right wing politician would want to reduce carbon emissions by that much within such a short time-span. keep us posted!
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"The best thing about the future is that it comes only one day at a time."
- Abraham Lincoln |
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