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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Author Message
  Topic: GM cancels healthcare
SteinarN

Replies: 80
Views: 3107

PostForum: Economics & Finance   Posted: Wed Jul 16, 2008 12:37 pm   Subject: Re: GM cancels healthcare

I have no retirement benefits at my job, although many of my coworkers do. I do not believe these benefits will be there when I am ready to retire. My retirement plan is a self sufficient homestea ...
  Topic: 10% consumption increase in Norway
SteinarN

Replies: 9
Views: 1032

PostForum: Peak Oil Discussion   Posted: Wed Jul 09, 2008 3:41 pm   Subject: Re: 10% consumption increase in Norway
The GDP has been increasing roughly 4% yearly the last several years. This year it is sheduled to a lower increase, maybe 1.5 to 2%. The unemployment rate is less than 2%

An important factor for th ...
  Topic: 2008 PO.com Oil Price Challenge II (Jul 8)
SteinarN

Replies: 49
Views: 2881

PostForum: Economics & Finance   Posted: Tue Jul 08, 2008 7:47 am   Subject: Re: 2008 PO.com Oil Price Challenge Part II
I'm adjusting my low prediction from $124 to $134. It seems that the dips in the oil price is getting increasingly shallower.

I did this revision on my low forecast on Jun 30.
  Topic: Electrical supply issues + work arounds
SteinarN

Replies: 8
Views: 550

PostForum: Planning For The Future   Posted: Sat Jul 05, 2008 3:12 pm   Subject: Re: Electrical supply issues + work arounds
I can't take the time to do the math but roughly off the top of my head you are using about 2.5 amps to run the fridge spread over 18 hours

so 45ish amphours needed. since you don't want to drain ...
  Topic: Cuba only country developing sustainably
SteinarN

Replies: 55
Views: 2022

PostForum: Current Events   Posted: Thu Jul 03, 2008 4:06 pm   Subject: Re: Cuba only country developing sustainably
How biased is it possible to be?!?

This is the first time I find it necessary to block a person. Plantagenet gets the honour.
  Topic: Record Ice Loss in Arctic 2008
SteinarN

Replies: 169
Views: 10295

PostForum: Environment   Posted: Wed Jul 02, 2008 1:22 pm   Subject: Re: Record Ice Loss in Arctic 2008
Anybody knows where Tanada is? He suddenly stopped posting in late May.
  Topic: 2008 PO.com Oil Price Challenge II (Jul 8)
SteinarN

Replies: 49
Views: 2881

PostForum: Economics & Finance   Posted: Mon Jun 30, 2008 2:18 am   Subject: Re: 2008 PO.com Oil Price Challenge Part II
I'm adjusting my low prediction from $124 to $134. It seems that the dips in the oil prize is getting increasingly shallower.
  Topic: Merc(edes Benz) plan fuel seven year ditch
SteinarN

Replies: 29
Views: 1502

PostForum: Current Events   Posted: Sun Jun 29, 2008 11:12 am   Subject: Re: Merc(edes Benz) plan fuel seven year ditch
an electric car will also regenerate a large amount of the power lost when a normal car is breaking, in the same way as a hybrid is doing today.

Thats nice, but hybrids today are gasoline powered. ...
  Topic: Merc(edes Benz) plan fuel seven year ditch
SteinarN

Replies: 29
Views: 1502

PostForum: Current Events   Posted: Sun Jun 29, 2008 2:05 am   Subject: Re: Merc(edes Benz) plan fuel seven year ditch
I double-checked at TheOilDrum.com to get the precise figures.

(1) High grade coal releases about 15% more CO2 then is released by using gasoline to generate an equivalent amount of energy to move ...
  Topic: 300 Mile Auto Oil Change Myth
SteinarN

Replies: 15
Views: 906

PostForum: Conservation & Efficiency   Posted: Thu Jun 26, 2008 3:01 pm   Subject: Re: 300 Mile Auto Oil Change Myth
I have a Mercedes Sprinter I use in my work. I took the first oil ond filter change at 45k miles. I have now driven another 66k miles. Time for the No.2 oil and filter change. I have however added rou ...
  Topic: 2008 PO.com Oil Price Challenge II (Jul 8)
SteinarN

Replies: 49
Views: 2881

PostForum: Economics & Finance   Posted: Thu Jun 26, 2008 8:45 am   Subject: Re: 2008 PO.com Oil Price Challenge Part II
High: 178, low: 124, close: 156
  Topic: Mexico: Pemex and Cantarell News And Discussion Thread
SteinarN

Replies: 551
Views: 83753

PostForum: Current Events   Posted: Fri May 23, 2008 2:59 pm   Subject: Re: Mexico: Pemex and Cantarell News And Discussion Thread
Monthly report for april is out.

Crude is down 415,000 bld, 13%, in april this year compared to april last year. Crude+ngl is down 430,000 bld.

[url=http://www.pemex.com/files/dcpe/petro/eprohid ...
  Topic: 10% consumption increase in Norway
SteinarN

Replies: 9
Views: 1032

PostForum: Peak Oil Discussion   Posted: Wed May 21, 2008 11:36 am   Subject: Re: 10% consumption increase in Norway
There was a big change in taxation on new cars starting 1. january 2007. We had taxation for horse power, weight and motor displacement. From 1. january 2007, the taxation for motor displacement was r ...
  Topic: Weekly US Petroleum and NG Supply Reports 2007-08
SteinarN

Replies: 1481
Views: 153364

PostForum: Current Events   Posted: Fri May 09, 2008 12:52 am   Subject: Re: Weekly US Petroleum and NG Supply Reports (New Thread)
As I see it, the inventory levels will stay mostly in a "comfortable" range. And the oil price will still continue to rise. The reason behind this situation is that if the oil price didn't rise, then ...
  Topic: Weekly US Petroleum and NG Supply Reports 2007-08
SteinarN

Replies: 1481
Views: 153364

PostForum: Current Events   Posted: Wed May 07, 2008 1:33 pm   Subject: Re: Weekly US Petroleum and NG Supply Reports (New Thread)
I must say I'm surprised. What was the price one year ago? $62? One year ago, was anyone predicting $123 now?

One thing this clearly shows is the inelastic consumption. It is required an awfully hi ...
 
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