What's with the low oil prices?

[Toddsterpatriot]

We must all genuflect and bow to King Obuma for this gift!

transcanada/keystone pipeline xl should be....kissing his feet... they are lucky that they hadn't put in this expensive sand oil pipeline....it would have been for naught....

It's not about pump gas price. Koch Industries owns most of the Oil Sands. They are trying to figure out a way so they can have cheap oil in the Kansas City area where their factories are that makes, among other things, Asphalt Tar. They are currently buying crude from other sources in the KC area.

Koch Industries owns most of the Oil Sands.

Most? That would be more than 50%. Prove it.

 

[The Rabbi]

Fracking is an expensive process, which requires something like $80/brl to cover their dead costs.

Actually, it's more like $35 a barrel. OPEC has been operating on the $80 a barrel misinformation, but that is based on old and outdated practices. The cost, and the productive yield, have been significantly improved over the years.

So let me see here.
OPEC, whose members depend on accurate knowledge of oil production and statistics for their livelihood, do not know about these things but you, some anonymous jerk on a discussion board, do have accurate knowledge? Seriously?

Guess you haven't been watching the news much lately, eh? OPEC nations aren't frackers. It doesn't surprise me at all that they might not have the best information. I'm willing to trust the information that has been reported by several media outlets, sourced from American based companies actually involved in fracking here in 2014.

Because no one in the Middle East has an internet connection or follows what American companies involved in fracking do. They're all camel jockey sitting in tents wondering if sheep get pregnant like that. Right?
You have some strange ideas. Probably because you're stupid.

 

[SwimExpert]

Isn't methane produced through biological action?

That's the most common mode of production for terrestrial methane, but it's not the only possibility. Methane is believed to also be a possible product of serpentinization. What is known for certain is that methane is found throughout the solar system, and probably the res of the universe. It's been detected on all of the planets, and is a common component of comets. Whatever the root origin of cosmological methane, it's probable that comets are a major source of distribution in our solar system.

 

[SwimExpert]

Because no one in the Middle East has an internet connection or follows what American companies involved in fracking do. They're all camel jockey sitting in tents wondering if sheep get pregnant like that. Right?

You have some strange ideas.

 

[Ame®icano]

Most likely, Saudi Arabia is trying to hurt Russia. Russia backs Syria and Iran, and also backs the invasion of the Ukraine.

Our Secretary of State visited Saudi Arabia earlier this year. This is probably being done at our behest.

When is the last time Arabs did what we wanted them to do?

 

[dilloduck]

They let us launch an invasion from their country.

 

[Ame®icano]

The GOP should be in a good position in 2016 if 2015 is a recession year for America.

We may still lose the Senate back to the dems (so many vulnerable GOP to Dem seats up for grabs), but the limit is the sky on house seats depending how nice we are to women and Hispanics, and how to convince TP to keep voting right even if they no longer have any power in policy and decision making.

Hey, you forgot to change to your other nick before you wrote this.

 

[Ame®icano]

Too bad we can't bank gasoline, we all know this won't last. I predict much higher prices by May.

It appears that in any given week there are over 200 million barrels of gasoline in inventories across the U.S. That's 8.4 billion gallons.

Weekly U.S. Ending Stocks of Total Gasoline Thousand Barrels

WOW~ That sounds like A LOT!

Until ya find out that 'in 2013, about 134.51 billion gallons1 (or 3.20 billion barrels) of gasoline were consumed in the United States on a daily average.

So... that's not much of a bank.

That would be a lot, but...

If you copy something, then copy the whole thing.

Link

 

[Uncensored2008]

Or... back in 2008, EVERYbody on all sides of the aisle believed that "Drill baby, drill" was a step in the correct direction and now the USA is reaping the rewards of producing more oil than it ever has, and, with that much black gold hitting the market place, OPEC has no choice but to try and keep up. Any single player seriously cutting production now would gain nothing in the here and now.

Although... Conservation of resources may well be an option that the Monkeys inhabiting earth 200 years from now will be wishing we had considered, but fuck 'em - I just 'coal rolled' a slow bitch in a Prius and now I'm sporting wood without blue pills for the first time in seven years.

Get 'Er DONE!​

Which is clearly WAS the right move, much to the chagrin of you leftists.

The Green oligarchy you fight for will never appear. The AGW fraud is exposed, and nothing will ever get sane people to accept this fucktarded religion. We have enough oil to last 500 years. The prospect of Americans submitting to "Green" dictatorship in fear of the volcano god's wrath is ended.

Your rulers in the party know it, which is why they have shifted to attacking "the 1%" boogerman and fomenting race riots.

The Green Socialist dictatorship is done, fizzled, crapped out.

 

[Toddsterpatriot]

Too bad we can't bank gasoline, we all know this won't last. I predict much higher prices by May.

It appears that in any given week there are over 200 million barrels of gasoline in inventories across the U.S. That's 8.4 billion gallons.

Weekly U.S. Ending Stocks of Total Gasoline Thousand Barrels

WOW~ That sounds like A LOT!

Until ya find out that 'in 2013, about 134.51 billion gallons1 (or 3.20 billion barrels) of gasoline were consumed in the United States on a daily average.

So... that's not much of a bank.

That would be a lot, but...

If you copy something, then copy the whole thing.

Link

I guess 24 days of supply isn't enough for him.

 

[Uncensored2008]

Of course we're going to run out of oil. It's a finite resource.

And the sun will supernova.

Neither event will have any impact on anyone living now, nor on their immediate offspring.

The price it's selling for today tells me that we're not going to run out before I get to file for my Social Security. After that I don't care.

We won't run out before your great-great grandchildren cash in their 401K

 

[Ame®icano]

They let us launch an invasion from their country.

Let us? They practically invited us because their ass was on fire.

 

[Ame®icano]

Too bad we can't bank gasoline, we all know this won't last. I predict much higher prices by May.

It appears that in any given week there are over 200 million barrels of gasoline in inventories across the U.S. That's 8.4 billion gallons.

Weekly U.S. Ending Stocks of Total Gasoline Thousand Barrels

WOW~ That sounds like A LOT!

Until ya find out that 'in 2013, about 134.51 billion gallons1 (or 3.20 billion barrels) of gasoline were consumed in the United States on a daily average.

So... that's not much of a bank.

That would be a lot, but...

If you copy something, then copy the whole thing.

Link

I guess 24 days of supply isn't enough for him.

Talking about emergency reserves?

With our production output, I would say we don't have to care about what OPEC does. If shit hits the fan, we can produce for ourselves, plus we got our northern neighbor.

 

[Uncensored2008]

When is the last time Arabs did what we wanted them to do?

The last time their interests and our interests coincided.

Iran claims they are the rightful Caliphate and should control Mecca. This doesn't make them real popular with the Saudis.

The Saudis are trying to cut the balls off of Iran with low oil prices, and it's working. They aren't doing this as a favor to Americans, but to serve their own interests.

 

[Ame®icano]

When is the last time Arabs did what we wanted them to do?

The last time their interests and our interests coincided.

Iran claims they are the rightful Caliphate and should control Mecca. This doesn't make them real popular with the Saudis.

The Saudis are trying to cut the balls off of Iran with low oil prices, and it's working. They aren't doing this as a favor to Americans, but to serve their own interests.

You may be right, but my opinion differ.

If they wanted to hurt Iran, they would do it four, five, six years ago. They wouldn't even let the price goes over $100. Iran to them is no more threat today then it was ten years ago. So what is different now?

We show them middle finger and increased production. Not because of government policies, but because of drilling on private land. Even our government was caught surprised, although they will try to take a credit for it.
Russia increased production, Iraq is back to their full capacity. Supply is larger then demand and biggest usurper of their price control is US.

Therefore I think they are aiming primarily on us.

 

[dilloduck]

They let us launch an invasion from their country.

Let us? They practically invited us because their ass was on fire.

It was more than Turkey did.

 

[g5000]

The RWnuts have blamed everything bad that's happened in the economy in the lasts 6 years on Obama. (Name something they haven't blamed on him, if you disagree).

I have a feeling no one will take up this challenge.

 

[g5000]

They let us launch an invasion from their country.

Let us? They practically invited us because their ass was on fire.

Not in the Second Gulf War it wasn't. They did not have to let us invade Iraq from Saudi Arabia.

 

[g5000]

Most likely, Saudi Arabia is trying to hurt Russia. Russia backs Syria and Iran, and also backs the invasion of the Ukraine.

Our Secretary of State visited Saudi Arabia earlier this year. This is probably being done at our behest.

When is the last time Arabs did what we wanted them to do?

As was pointed out already, the Saudis let Dubya use their country from which to invade Iraq.

In fact, Saudi Arabia has been a staunch friend of the US since the first days of the Cold War. The only time they went against us was in the mid 70s.

Other than that, they have nearly always done what we asked.

 

[Toro]

1. Regain market share by wiping out high cost producers

2. Hurt Russia and Iran