Exploring Hydrocarbon Depletion
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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!
That's the French oil tanker Limburg, that was attacked off the coast of Yemen, October 6, 2002.
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.
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.
Somebody better get on the floor and tell those traders this--oil's back up above $58/barrel.Terrorism May Slow Demand
Especially if you say "may".Doly wrote:Let's see if I understand this: terrorism can explain both oil prices rising and oil prices going down?
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