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Joined: Aug 2004
Posts: 69,665 Likes: 15
Campfire Kahuna
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Campfire Kahuna
Joined: Aug 2004
Posts: 69,665 Likes: 15 |
Must be the reason gas went up 20+ cents here last couple weeks Gouging robbing bastads !!!!!! S O B's one and all Maybe if you'd find an outlet to buy only Saudi gasoline you'd find that happiness that seems to elude you. You bitch when the price is up. You bitch when the price is down. You relish Americans being out of work in the oil industry. Why don't you make a sincere statement about all this and sell your cars and get you and your wife and kids a bike? Or is all you can do is bitch?
Molɔ̀ːn Labé Skýla!
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Joined: Feb 2013
Posts: 1,893
Campfire Regular
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Campfire Regular
Joined: Feb 2013
Posts: 1,893 |
Wrong arse hole never bitch when it is down !!! I would just like to see some real reason it is going up??? Sure is good to see people not spending their life savings just to drive to work everyday and farmers not spending a whole crop on fuel
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Joined: Nov 2007
Posts: 2,154
Campfire Regular
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Campfire Regular
Joined: Nov 2007
Posts: 2,154 |
Since it is late August, I'm pretty sure it is because the refineries are switching to winter blend gasoline, so stocks of summer blend are dwindling. It's called supply and demand, with goverment mandated regulations on when you have to sell what.
My biggest fear is when I die my wife will sell my guns for what I told her they cost....
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Joined: Jul 2013
Posts: 3,327
Campfire Tracker
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Campfire Tracker
Joined: Jul 2013
Posts: 3,327 |
Since it is late August, I'm pretty sure it is because the refineries are switching to winter blend gasoline, so stocks of summer blend are dwindling. It's called supply and demand, with goverment mandated regulations on when you have to sell what. Don't try to be logical with the people like mohick who know nothing about the oil business but still have all of the answers. It ruins all of their conspiracy theories and makes them pout.
It's official. I missed the selfie deadline so I'm Maser's sock puppet because rene and the Polish half of the fubar twins have decided that I am.
ΜOΛΩΝ ΛΑΒΕ μολὼν λαβέ
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Joined: May 2005
Posts: 9,611
Campfire Outfitter
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Campfire Outfitter
Joined: May 2005
Posts: 9,611 |
It's just hard to believe there's that much oil under the earth's surface. powdr
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Joined: Nov 2007
Posts: 2,154
Campfire Regular
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Campfire Regular
Joined: Nov 2007
Posts: 2,154 |
It's just hard to believe there's that much oil under the earth's surface. powdr Yes, can you just imagine the amount of global warming it took to put all yhat oil and coal in the ground for us?
My biggest fear is when I die my wife will sell my guns for what I told her they cost....
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Joined: Nov 2002
Posts: 33,736 Likes: 3
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,736 Likes: 3 |
It's just hard to believe there's that much oil under the earth's surface. powdr The project I worked in the Caspian Sea, Kashagan, holds 13 billion barrels of recoverable oil. Once fully developed production will be almost 400k bbl/day. This from just one field.
Conduct is the best proof of character.
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Joined: Aug 2005
Posts: 28,259 Likes: 6
Campfire Ranger
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OP
Campfire Ranger
Joined: Aug 2005
Posts: 28,259 Likes: 6 |
Those off shore plays better be prolific, considering what it costs to get that crude to the market, huh Ed?
That's what makes the Permian so cost effective compared to most inland plays.
It is irrelevant what you think. What matters is the TRUTH.
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Joined: Feb 2005
Posts: 2,829
Campfire Regular
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Campfire Regular
Joined: Feb 2005
Posts: 2,829 |
Alberta's oilsands plays produce just under 3MM/bbl/day at current production volumes. The rest of Canada adds about 1MM/bbl/day. (Source from CAPP website found here: http://www.capp.ca/publications-and-statistics/publications/282894) The prevalence of shale oil production in the US means that while gasoline prices are likely going to fall or remain stable, diesel prices in the US will likely go up. You are able to get far more diesel per barrel of heavy oil than you can from light shale oil. It all has to do with the number of long chain hydrocarbons available in the product. Diesel is longer chain than gasoline. Shale oil has much more short chain hydrocarbons than heavy crude. I applaud the US for striving to be energy independent. If I was in their shoes I would try to do the same. That said, it really has put a hurt on the Canadian oil and gas business as we ship nearly all our production stateside. Our current federal and provincial governments haven't helped things either by not getting pipelines built that can supply other markets. Refineries on the east coast import oil from the middle east instead of using Canadian oil because Quebec doesn't want a pipeline through their province and they hold the political clout to hurt any party that lets it happen. SS
"To be glad of life because it gives you a chance to love and to work and to play and to look up at the stars. To be satisfied with your possessions but not content with yourself until you have made the best of them." -Henry Van Dyke
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Joined: Feb 2001
Posts: 24,239
Campfire Ranger
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Campfire Ranger
Joined: Feb 2001
Posts: 24,239 |
I leased a few spots and drilled them back in the 70's and early 80's so I'm familiar with the variation in lease terms. My question should have been phrased more specifically.
The best deal possible in Texas is an 87.5% percent lease since , by law, 1/8 of the production must be awarded to a named royalty owner. But royalty owners can demand more and then middlemen can hold an overiding royalty interest, so some leases I've known were only 75% to the working interest. I never drilled less than an 80% lease myself.
Considering the huge prices being paid, I just wondered if most of it had production already but had open acreage, or if it was land that had never been leased and what sort of working interest they might be getting.
Never holler whoa or look back in a tight place
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Joined: Jan 2003
Posts: 10,954
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2003
Posts: 10,954 |
I am concerned that after drilling all this oil America might actually. ..tip....over.....
When a country is well governed, poverty and a mean condition are something to be ashamed of. When a country is ill governed, riches and honors are something to be ashamed of . Confucius
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Joined: Apr 2008
Posts: 2,416
Campfire Regular
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Campfire Regular
Joined: Apr 2008
Posts: 2,416 |
I am concerned that after drilling all this oil America might actually. ..tip....over..... LOL You would make a dang fine Senator with a D by your name!!!!
A true friend is someone who reaches for your hand but touches your heart !!!
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Joined: Nov 2002
Posts: 33,736 Likes: 3
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,736 Likes: 3 |
Those off shore plays better be prolific, considering what it costs to get that crude to the market, huh Ed?
That's what makes the Permian so cost effective compared to most inland plays. While I won't get into the details about how the Italians (AGIP who I was seconded to) don't know their azzez from 9th Street on project management when I started there the project cost was forecast at $30B. When I left 2 1/2 years later it was $52B and an easy 5 years behind schedule. Upon startup, the pipelines to shore leaked so all was shut down for replacement that still is not complete some 2 years later. The expats named it CashAgain...
Conduct is the best proof of character.
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Joined: Nov 2002
Posts: 33,736 Likes: 3
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,736 Likes: 3 |
Sam,
I was the engineering manager on the Shell Upgrader Expansion project in Fort Saskatchewan 2004 - 2009. Given the "cost of business" there during that boom and the province re-looking at their royalties it was clear that the project was a bad investment. I would be surprised if we are breaking even up there.
Conduct is the best proof of character.
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Joined: Jun 2003
Posts: 3,871
Campfire Tracker
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Campfire Tracker
Joined: Jun 2003
Posts: 3,871 |
[quote=EdM]Sam,
I was the engineering manager on the Shell Upgrader Expansion project in Fort Saskatchewan 2004 - 2009. Given the "cost of business" there during that boom and the province re-looking at their royalties it was clear that the project was a bad investment. I would be surprised if we are breaking even up there. [/quote
EdM Small world isn't it, I lived in FT. Sask after my Dad was killed in 48 while working as derrick man and my step father was western regional mgr. for Shell for a long time prior to that. Cheers NC
Last edited by northcountry; 08/26/16.
don't judge until you have walked a mile in other persons' moccasins' SUM QUOD SUM........HOMINEM TE ESSE MEMENTO
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Joined: Dec 2002
Posts: 22,274
Campfire Ranger
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Campfire Ranger
Joined: Dec 2002
Posts: 22,274 |
Those off shore plays better be prolific, considering what it costs to get that crude to the market, huh Ed?
That's what makes the Permian so cost effective compared to most inland plays. While I won't get into the details about how the Italians (AGIP who I was seconded to) don't know their azzez from 9th Street on project management when I started there the project cost was forecast at $30B. When I left 2 1/2 years later it was $52B and an easy 5 years behind schedule. Upon startup, the pipelines to shore leaked so all was shut down for replacement that still is not complete some 2 years later. The expats named it CashAgain... I will never forget one Italian machine tool that a previous employer bought, dedicated to making one specific family of high volume parts. It bent the steel rod with a series of servo motors. The motors were sized barely big enough to do the job, no reserve capacity. If the wire was slightly harder than spec, it would just stop in the middle of the cycle, with no error message. I inherited the project from a plant that had closed, and it about drove me nuts trying to figure out what was going on with it. It was incredible to me that you build a large expensive machine, with zero safety factor or reserve capacity, but apparently that was an Italian thing.
"...the designer of the .270 Ingwe cartridge!..."
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Joined: Jan 2001
Posts: 21,317
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 21,317 |
The question is did the manufacturer of the equipment undersize the motors, or did the purchaser of the equipment choose a machine barely suitable for the job to save money?
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Joined: Feb 2004
Posts: 19,217 Likes: 3
Campfire Ranger
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Campfire Ranger
Joined: Feb 2004
Posts: 19,217 Likes: 3 |
Sooner or later there will be at least one and maybe 2 new pipelines coming down from Canada. I see this as only adding to the excess surplus. I suppose it can be called "reserve" and only a minimum amount processed.
This is good because it will be predominantly Canadian oil and not ours or Saudi's but I only see this as putting Canadian oil workers out of a job an not Americans but the issues will be the same for Canada as it is here.
Unless we can bring back some factories from China. I'm sure that will give them a case of the @ss.
kwg
For liberals and anarchists, power and control is opium, selling envy is the fastest and easiest way to get it. TRR. American conservative. Never trust a white liberal. Malcom X Current NRA member.
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Joined: Nov 2002
Posts: 33,736 Likes: 3
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,736 Likes: 3 |
Precisely why I always thought the Keystone Pipeline Project made little sense for us, contrary to most here... I was always looking for independence, no?
Conduct is the best proof of character.
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Joined: Feb 2004
Posts: 19,217 Likes: 3
Campfire Ranger
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Campfire Ranger
Joined: Feb 2004
Posts: 19,217 Likes: 3 |
Precisely why I always thought the Keystone Pipeline Project made little sense for us, contrary to most here... I was always looking for independence, no? I could care less about the Saudi's but I would like to keep the Canadians on friendly terms. I guess as long as there is a Canadian reserve of oil, the politicians can no longer hold us hostage about no north American oil and we have to buy from people who don't like us like they have done to us since the 1970's. Gawd I hate liberals and tree huggers. kwg
For liberals and anarchists, power and control is opium, selling envy is the fastest and easiest way to get it. TRR. American conservative. Never trust a white liberal. Malcom X Current NRA member.
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