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mlukew
Coal
Joined: Jul 15, 2007
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Madpaddy
Expert
Joined: Jun 25, 2004
Posts: 2060
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 Posted: Mon Jun 16, 2008 7:38 am Post subject: Re: Problem Solved |
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I leave it to the market itself to dismiss the Saudi Kings comments with the contempt they deserve.
CNN
| Quote: | | Oil makes sudden $5 surge to record |
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Hogan
Light Sweet Crude
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Joined: Oct 25, 2004
Posts: 1298
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| Posted: Mon Jun 16, 2008 7:40 am Post subject: Re: Problem Solved |
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Troll alert.
You tell him, Madpaddy. |
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DomusAlbion
Moderator
Joined: Dec 08, 2004
Posts: 1581
Location: Nez Perce Nation
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| Posted: Mon Jun 16, 2008 7:42 am Post subject: Re: Problem Solved |
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Less than 1/2 of one percent boost in daily oil output.
The world is NOT impressed. Oil is now more expensive than ever.
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"Modern Agriculture is the use of land to convert petroleum into food."
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"It will be a dark time. But for those who survive, I suspect it will be rather exciting."
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Aaron
800 lb Gorilla
Joined: Apr 15, 2004
Posts: 6410
Location: Houston
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| Posted: Mon Jun 16, 2008 8:13 am Post subject: Re: Problem Solved |
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I'd like to take this opportunity to predict essentially flat production from SA for some period of time, (easily predicted by analysis of their hidden reserves data), after which sharp production declines will destroy the kingdom's financial base & plunge them into domestic chaos & economic meltdown.
Cue Zombie hordes.
Your dog wants transparency.
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KevO
Expert
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CaptainCanuck
Coal
Joined: Jun 17, 2005
Posts: 8
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| Posted: Mon Jun 16, 2008 9:08 am Post subject: Re: Problem Solved |
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| I realise that English is not the first language of the Saudis' but all they have learned is the furure tense. They never use the present tense or heaven forbid the past tense. Everything is in the future tense. I wil believe it when I see it. |
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gnm
Expert
Joined: Jul 08, 2004
Posts: 2644
Location: plundering eco-villages
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| Posted: Mon Jun 16, 2008 9:13 am Post subject: Re: Problem Solved |
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I think they forgot to finish their statement...
Shouldn't it be "The Saudis have agreed to pump more.... HEAVY SOUR CRUDE OUT OF THEIR TANK FARMS" ?
-G
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efarmer
Heavy Crude
Joined: Mar 17, 2006
Posts: 485
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| Posted: Mon Jun 16, 2008 9:26 am Post subject: Re: Problem Solved |
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For sure North American petroleum consumption and in
many other areas of the globe our usage of the black
elixir most closely resembles the allocation and
consumption of beer at a college kegger. Ad hoc,
chaotic, and not limited by real needs whatsoever.
So in effect, the Saudi's are coming in to the party
at 2AM, with 3 cans of skunky old beer and offering
it to 14 gooned up wobbly suckers who are lined up
to drink right out of the keg until they black out.
This is one problem that doing token crap on TV or
in the media isn't going to dress up or paper over.
We are drunk on oil and have to sober up, even if
we will drink the sour stuff once the good stuff is all
sucked up. |
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coyote
News Editor
Joined: Oct 23, 2005
Posts: 1791
Location: East of Eden
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| Posted: Mon Jun 16, 2008 9:35 am Post subject: Re: Problem Solved |
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The only important part of the article:
| Quote: | | ...an attempt to avert an escalation of social and political unrest around the world. |
Says it all I think. We're here.
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"If a path to the better there be, it begins with a full look at the worst." — Thomas Hardy |
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mlukew
Coal
Joined: Jul 15, 2007
Posts: 6
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| Posted: Mon Jun 16, 2008 9:53 am Post subject: Re: Problem Solved |
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| Drifter wrote: | Troll alert.
You tell him, Madpaddy. |
That is fantastic. I have never been accused of being a troll and I count this as a monumental moment in my life.
Seriously though, I do believe that the last $15 per barrel for oil was due to speculation. Reality will make up for that and make it real in a few months time though.
My questions is, why do the Saudi kings want that speculation curbed so quickly, why does this effect them so much?
Are they afraid of demand destruction coming too soon or suddenly?
(oh, I've been reading these forums since 2005, I just rarely post for lack of anything to say) |
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Jack
Dark Lord
Joined: Aug 11, 2004
Posts: 5065
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| Posted: Mon Jun 16, 2008 10:17 am Post subject: Re: Problem Solved |
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| mlukew wrote: | | Seriously though, I do believe that the last $15 per barrel for oil was due to speculation. Reality will make up for that and make it real in a few months time though. |
And is this pronouncement a result of faith, or knowledge? If knowledge, how did you arrive at the number and timing mentioned?
| mlukew wrote: |
(oh, I've been reading these forums since 2005, I just rarely post for lack of anything to say) |
And yet you say problem solved? That's surprising.
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Dieoff. Fun to watch. Better with hot buttered popcorn!  |
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Hogan
Light Sweet Crude
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Joined: Oct 25, 2004
Posts: 1298
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| Posted: Mon Jun 16, 2008 10:18 am Post subject: Re: Problem Solved |
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| gnm wrote: | I think they forgot to finish their statement...
Shouldn't it be "The Saudis have agreed to pump more.... HEAVY SOUR CRUDE OUT OF THEIR TANK FARMS" ?
-G |
Classic post.  |
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TheDude
Expert
Joined: Apr 06, 2006
Posts: 3330
Location: 3 miles NW of Champoeg, Republic of Cascadia
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| Posted: Mon Jun 16, 2008 10:27 am Post subject: Re: Problem Solved |
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| efarmer wrote: | For sure North American petroleum consumption and in
many other areas of the globe our usage of the black
elixir most closely resembles the allocation and
consumption of beer at a college kegger. Ad hoc,
chaotic, and not limited by real needs whatsoever.
So in effect, the Saudi's are coming in to the party
at 2AM, with 3 cans of skunky old beer and offering
it to 14 gooned up wobbly suckers who are lined up
to drink right out of the keg until they black out. |
Great analogy, dude!
But who are the Girls Gone Wild of Peak Oil, then? 
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Cogito, ergo non satis bibivi
I will not abide another toe. |
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mlukew
Coal
Joined: Jul 15, 2007
Posts: 6
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| Posted: Mon Jun 16, 2008 10:45 am Post subject: Re: Problem Solved |
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| Jack wrote: | | mlukew wrote: | | Seriously though, I do believe that the last $15 per barrel for oil was due to speculation. Reality will make up for that and make it real in a few months time though. |
And is this pronouncement a result of faith, or knowledge? If knowledge, how did you arrive at the number and timing mentioned?
| mlukew wrote: |
(oh, I've been reading these forums since 2005, I just rarely post for lack of anything to say) |
And yet you say problem solved? That's surprising. |
Well, if it were knowledge I wouldn't have said "I believe", I would have said "I know". This belief of mine is based on nothing, just an assumption. My assumption is not really based on anything.
Uh, I think you misunderstood the tone of my thread title. I should have known better. |
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