THE Price of Crude pt 4 (merged) Archived

by **rockdoc123** » Wed 01 Jun 2005, 14:05:19

interesting how the picture shown in the article is a tanker cruising through the straits of Hormuz with a nice panoramic view of the Iranian coastline........perhaps building up more excuses to invade Iran and secure oil resources for the world before the Al Qaida terrorists who are no doubt in control of the Mullahs blockade! :shock:

by **smiley** » Wed 01 Jun 2005, 14:34:34

interesting how the picture shown in the article is a tanker cruising through the straits of Hormuz with a nice panoramic view of the Iranian coastline........perhaps building up more excuses to invade Iran and secure oil resources for the world before the Al Qaida terrorists who are no doubt in control of the Mullahs blockade!

It would be. Only it's a picture of the Bosporus :razz:

by **seldom_seen** » Wed 01 Jun 2005, 16:19:19

That's the French oil tanker Limburg, that was attacked off the coast of Yemen, October 6, 2002.

by **savethehumans** » Thu 02 Jun 2005, 00:19:25

The Bosphorus would be a heck of a good target. . .ship traffic alone can clog the place up. Ship traffic blocked by a blown-up ship--well, I'm surprised they haven't tried that yet.

Suez Canal would be good, too--do oil tankers go through there? Oh! And the Strait of Gibralter!

Geez, I'm just a pacifistic, PO-aware, middle-aged woman. If I can think of these things, the terrorists and insurgents must be awaiting the day....

by **pea-jay** » Thu 02 Jun 2005, 03:17:45

Forget the shipping channels...worry about the bottle neck locations where crude funnels through a very small area. Like near loading faciliies in Saudi Arabia or receiving terminals in the gulf of Mexico

by **kerosene** » Thu 02 Jun 2005, 04:35:49

so I suggest we watch that FX channel produced film, Oil Storm (FOX) next Sunday. That will explain the concept to the people - oil prices jump because of terrorism.

Now this "securitynews" - why on earth would they release that kind of news anyway - no public is in danger if a tanker is attacked. My point being that releasing that kind of reports has a mission on affecting people's mind set it doesn't serve anyone. Compare to "shopping malls will be anthraxed today" - in which case informing the public would make sense.

Building up the big blue book of excuses.

H

by **scmayo** » Thu 02 Jun 2005, 05:51:43

Shipping channels *are* considered to be choke point in some cases - something like 20% of the worlds oil comes through the straits of Hormuz, for instance.

See the following
http://www.eia.doe.gov/emeu/cabs/choke.html

Sherry

by **Jdelagado** » Thu 02 Jun 2005, 09:39:43

seldom_seen wrote:

That's the French oil tanker Limburg, that was attacked off the coast of Yemen, October 6, 2002.

The terrorists already know what WEASELS the french are, so there would be no retaliation.......

jdeleagado

by **hoplite** » Thu 02 Jun 2005, 23:07:32

Without whom, the United states would be a Socialist puppet of the people who caused ALL these problems. (The English)

by **k_semler** » Fri 03 Jun 2005, 01:48:27

I'll agree, in 1776, the french were a very formidable force, but since their revolution, they just have seemed to become more and more pacified through the passage of time judging from history books and live news. They now seem to be a nation of nothing but pussy whipped girly-men.

by **crossthread** » Tue 28 Jun 2005, 12:41:59

Crude oil prices closed Monday at $60.54 a barrel, up 70 cents from Friday's close. It marked the first time oil closed at higher than $60 a gallon.

http://www.msnbc.msn.com/id/8386182/ :wink:

by **stu** » Tue 28 Jun 2005, 13:23:06

Roll on $61.

by **BabyPeanut** » Tue 28 Jun 2005, 23:04:55

$60 a gallon is $2,520.00 a barrel.
$60 a barrel is $1.43 a gallon.

by **smallpoxgirl** » Tue 28 Jun 2005, 23:12:14

BabyPeanut wrote:$60 a gallon is $2,520.00 a barrel.

Well that ought to cause some demand destruction. :-D

by MD » Tue 28 Jun 2005, 23:24:46

Some day it will sell at that price, in today's dollars. That brings to mind a question. What is the true peak price of oil? At what level can the energy contained therein be more economically produced by simple human labor? How do other energy sources impact that number? My gut reaction is that $2500 a barrel is possible, with oil, in that case, being truly a rich man's caviar.

From a raw energy standpoint, I think a man can produce the equivalent of 2kwh of work per day. That is about thity cents $0.30(no wonder we like cheap energy so much!). Manual labor can be bought around here for about $100 per day. That means electrical cost could increase 330 fold before coming into par with manual labor. If the same ratio carries with oil, we have $60*330, or $18000 per barrel.

OK, before you start ripping apart my numbers, I am just making some sweeping estimates to get a handle on the scale. I think it is safe to conclude that per barrel price could increase by a couple orders of magnitude before nobody would want the stuff for any reason at all.

by Z » Thu 30 Jun 2005, 13:38:59

MD wrote:From a raw energy standpoint, I think a man can produce the equivalent of 2kwh of work per day. That is about thity cents $0.30(no wonder we like cheap energy so much!). Manual labor can be bought around here for about $100 per day. That means electrical cost could increase 330 fold before coming into par with manual labor. If the same ratio carries with oil, we have $60*330, or $18000 per barrel.

What about animal labour rather than human one ? Maybe we can sort of use them before returning to slavery ?

by **Graeme** » Mon 25 Jul 2005, 07:28:22

Crude Oil Falls on Concern High Prices, Terrorism May Slow Demand Growth

July 25 (Bloomberg) -- Crude oil fell for a third day in four on concern that near-record prices and terrorism may slow demand growth.

Oil imports into China, which has led a surge in demand with the U.S. in the past two years, fell in June for the first month in four as refiners bought less because of high prices. A second attempt to set off bombs in London's subway and bus network last week may discourage consumers from traveling, said Rob Laughlin, a senior broker at Man Financial in London.

http://www.bloomberg.com/news/markets/energy.html

by **Doly** » Mon 25 Jul 2005, 07:30:11

Let's see if I understand this: terrorism can explain both oil prices rising and oil prices going down?

by **Graeme** » Mon 25 Jul 2005, 07:35:39

No the second. Its responsible for falling demand.

by **BabyPeanut** » Mon 25 Jul 2005, 07:40:03

Terrorism May Slow Demand

Somebody better get on the floor and tell those traders this--oil's back up above $58/barrel.

Doly wrote:Let's see if I understand this: terrorism can explain both oil prices rising and oil prices going down?

Especially if you say "may".

Or in other words: terrorism did slow oil demand for sufficiently small degrees of demand slowing. :roll:

THE Price of Crude pt 4 (merged) Archived

"weasel" French

Here's a nice typo

Crude Oil Falls since High Prices/Terrorism May Slow Demand

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