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Old 05-10-2016, 01:15 PM   #21 (permalink)
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oil production disruption at a 5 year high

Supply loss from various disruptions is now greater than the recent oversupply of 1-2 million barrels/day (a number I keep reading):


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Old 05-12-2016, 05:36 AM   #22 (permalink)
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Crude prices are obviously an indicator of gas prices but just because oil is cheap doesn't mean gas is cheap. I could have a semi tanker of crude oil in my driveway and if i ran out of gas I'd still be walking or riding my bike.
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Old 05-12-2016, 07:58 AM   #23 (permalink)
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Quote:
Originally Posted by ksa8907 View Post
Crude prices are obviously an indicator of gas prices but just because oil is cheap doesn't mean gas is cheap. I could have a semi tanker of crude oil in my driveway and if i ran out of gas I'd still be walking or riding my bike.
An extreme real world example of this right now is Nigeria, a major world oil producer suffering gasoline lines because its gasoline is imported and its domestic refineries are aged. The cheap oil is weakening their ability to buy gasoline from abroad because gasoline has become relatively expensive. People there are pissed.
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Old 05-12-2016, 09:41 AM   #24 (permalink)
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Right on schedule, U.S. oil stocks posted their first decline in several months. "Surprise!" some reports say. (Obviously they never looked at the typical May pattern.)

Result: oil hit a fresh 2016 high this AM.

Global oil markets 'heading towards balance': IEA
Global oil markets 'heading towards balance': IEA
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Old 05-12-2016, 04:50 PM   #25 (permalink)
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Wel, drat. Looks like the $10 Shell gift card I got won't fill my tank.
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Old 05-16-2016, 12:00 PM   #26 (permalink)
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I woke up this morning with a simile metaphor talking-point in my head:

We all know (from Open Source principles) about 'free as in speech' and 'free as in beer'. It turns out there is also 'free as in puppy'. So I ordered things this way:
  • Free as in speech: Solar (to include wind, wave and hydro) and Lunar (tidal) power as it is democratizing
  • Free as in beer: petroleum at $1 in/$100 out
  • Free as in puppy: nuclear power, which cost mostly after the energy has already been consumed

Where it put coal and the last of the petroleum?
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Old 05-17-2016, 01:16 PM   #27 (permalink)
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Quote:
Originally Posted by freebeard View Post
I woke up this morning with a simile metaphor talking-point in
  • Free as in puppy: nuclear power, which cost mostly after the energy has already been consumed

Where it put coal and the last of the petroleum?
Nuclear energy could make 99% less waste, just need the MSR thorium reactors from the 1950s put on line.
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Old 05-17-2016, 01:20 PM   #28 (permalink)
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"Free as in puppy" has an equivalent in one of my hobbies: "Free boat!"
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Old 05-17-2016, 01:25 PM   #29 (permalink)
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$48 wti / $2.24 US gas

More price chatter, since this thread has been bumped...

US oil hit $48 today. The newsreels and Goldman Sachs say that current supply disruptions (pipeline sabotage in Nigeria, Alberta wildfires, etc...) have effectively removed the overproduction glut from the market. (At least temporarily.)

Not coincidentally, today the average gas price in the States hit a 6 month high of ~$2.24 / gal.
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Old 05-17-2016, 03:39 PM   #30 (permalink)
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The Saudis threatened to dump US Treasuries if the 28 minutes pages were to be released. Max Keiser said "Bring it on! The bond market is starving." Of course now the 28 pages are a part of bigger disclosure.

rmay635703 -- Agreed. But at this point how many years of Thorium power to pay forward the thousand-plus years of managing the high-level wastes produced to date?

Edit: I just noticed: 'Free as in speech' should included Terran, for geothermal.


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