How then, do we move backwards? How does a society, with most of the people having no clue of future events, move from being dependent on a vast and intertwined network of goods and services produced by the indigenous people of whereever, to a local resource and renewable energy based society, and do so in the timeframe available (20-30 years using the most liberal extimates, 10-20 with resonable estimates, 5-10 with worst case scenarios), all the while prices on everything increasing, world politics getting more militaristic, governments continuously reducing civil liberties, shortages of goods on the market and weather patterns resembling bad Hollywood movies?
Posted: Sun Jun 29, 2008 7:11 pm Post subject: Crude up $1.34 in Elec. Trading . . .
Chomping at the bit, they are.
Prices moving upward, they are.
The end is near, it is.
_________________ Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group.
Posted: Sun Jun 29, 2008 8:30 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
Cashmere wrote:
Chomping at the bit, they are.
Prices moving upward, they are.
The end is near, it is.
Oh you watch me!
I'll have 4 horses pull my hummer, still live in my suburban home by eating mice and fertalizing my lawn with my own droppings..
just you see... *walks around in circles talking about the new SUV model.*
Joined: Oct 23, 2004 Posts: 5342 Location: New Jersey
Posted: Mon Jun 30, 2008 9:26 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
OilFinder2 wrote:
Down 21 cents today at the close. No excitement yet!
Considering the Saudis came out today and said they could produce more than 1 million barrels extra right now and meet any supply shortage, a 21 cents drop is pathetic. _________________ It's already over, now it's just a matter of adjusting.
Posted: Mon Jun 30, 2008 9:40 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
DantesPeak wrote:
OilFinder2 wrote:
Down 21 cents today at the close. No excitement yet!
Considering the Saudis came out today and said they could produce more than 1 million barrels extra right now and meet any supply shortage, a 21 cents drop is pathetic.
All the Saudis did today was reiterate what they've already been saying for the past couple weeks. It wasn't even "news." _________________ Abundance - what a concept!
Joined: Oct 23, 2004 Posts: 5342 Location: New Jersey
Posted: Mon Jun 30, 2008 9:48 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
OilFinder2 wrote:
DantesPeak wrote:
OilFinder2 wrote:
Down 21 cents today at the close. No excitement yet!
Considering the Saudis came out today and said they could produce more than 1 million barrels extra right now and meet any supply shortage, a 21 cents drop is pathetic.
All the Saudis did today was reiterate what they've already been saying for the past couple weeks. It wasn't even "news."
Wrong again.
They hadn't said this before this way:
Quote:
"We can, we know it. We can pump 11 million (barrels a day) sustainably for a long, long time," Ali Naimi told reporters when arriving here for the 19th World Petroleum Congress, the largest gathering of the oil sector in every three years.
"We will provide our customers with whatever they need," he added.
If you can show where this was said before recently then please do. _________________ It's already over, now it's just a matter of adjusting.
Posted: Mon Jun 30, 2008 9:51 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
DantesPeak wrote:
OilFinder2 wrote:
DantesPeak wrote:
OilFinder2 wrote:
Down 21 cents today at the close. No excitement yet!
Considering the Saudis came out today and said they could produce more than 1 million barrels extra right now and meet any supply shortage, a 21 cents drop is pathetic.
All the Saudis did today was reiterate what they've already been saying for the past couple weeks. It wasn't even "news."
Wrong again.
They hadn't said this before this way:
Quote:
"We can, we know it. We can pump 11 million (barrels a day) sustainably for a long, long time," Ali Naimi told reporters when arriving here for the 19th World Petroleum Congress, the largest gathering of the oil sector in every three years.
"We will provide our customers with whatever they need," he added.
If you can show where this was said before recently then please do.
A google news search for that quote comes up empty. Link please. _________________ Abundance - what a concept!
Posted: Mon Jun 30, 2008 10:00 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
^
OilFinder2 wrote:
DantesPeak wrote:
OilFinder2 wrote:
Down 21 cents today at the close. No excitement yet!
Considering the Saudis came out today and said they could produce more than 1 million barrels extra right now and meet any supply shortage, a 21 cents drop is pathetic.
All the Saudis did today was reiterate what they've already been saying for the past couple weeks. It wasn't even "news."
Oh wait, I just found it. And as I said, he did nothing but reiterate what the Saudis have been saying for weeks:
Saudi Arabia's oil chief reiterated on Monday that the world's largest crude exporter is ready to raise its output again if there is demand in the markets.
"We can, we know it. We can pump 11 million (barrels a day) sustainably for a long, long time," Ali Naimi told reporters when arriving here for the 19th World Petroleum Congress, the largest gathering of the oil sector in every three years.
"We will provide our customers with whatever they need," he added.
As the international oil prices kept rising, which climbed above 143 U.S. dollars per barrel today, oil producing countries were under growing pressure from consuming nations to increase production in order to contain further rise.
At a global summit on oil prices in the country's Red Sea city of Jeddah one week ago, Saudi Arabia, a leading member of the Organization of the Petroleum Exporting Countries (OPEC) promised to raise its oil output by 200,000 barrels per day since July.
By then, Saudi Arabia will produce 9.7 million barrels per day, the highest level the kingdom has ever pumped.
Joined: Oct 23, 2004 Posts: 5342 Location: New Jersey
Posted: Mon Jun 30, 2008 10:04 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
OilFinder2 wrote:
^
OilFinder2 wrote:
DantesPeak wrote:
OilFinder2 wrote:
Down 21 cents today at the close. No excitement yet!
Considering the Saudis came out today and said they could produce more than 1 million barrels extra right now and meet any supply shortage, a 21 cents drop is pathetic.
All the Saudis did today was reiterate what they've already been saying for the past couple weeks. It wasn't even "news."
Oh wait, I just found it. And as I said, he did nothing but reiterate what the Saudis have been saying for weeks:
Saudi Arabia's oil chief reiterated on Monday that the world's largest crude exporter is ready to raise its output again if there is demand in the markets.
"We can, we know it. We can pump 11 million (barrels a day) sustainably for a long, long time," Ali Naimi told reporters when arriving here for the 19th World Petroleum Congress, the largest gathering of the oil sector in every three years.
"We will provide our customers with whatever they need," he added.
As the international oil prices kept rising, which climbed above 143 U.S. dollars per barrel today, oil producing countries were under growing pressure from consuming nations to increase production in order to contain further rise.
At a global summit on oil prices in the country's Red Sea city of Jeddah one week ago, Saudi Arabia, a leading member of the Organization of the Petroleum Exporting Countries (OPEC) promised to raise its oil output by 200,000 barrels per day since July.
By then, Saudi Arabia will produce 9.7 million barrels per day, the highest level the kingdom has ever pumped.
So what, they've been talking about 11 million capacity for some time - but not actual production.
Show me the prior quote where they say they will keep output sustained for a long long time at 11 million. _________________ It's already over, now it's just a matter of adjusting.
Posted: Mon Jun 30, 2008 10:13 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
DantesPeak wrote:
So what, they've been talking about 11 million capacity for some time - but not actual production.
Show me the prior quote where they say they will keep output sustained for a long long time at 11 million.
Oh, so you expect the markets to analyze every single nuance of the statements of chief of OPEC?
But since you asked, I can show you a quote from 2004 from the chief reservoir manager of Saudi Aramco where he says the Saudis can sustain 12 million bpd for 50 years.
Care to see it? Or is that not "prior" enough? _________________ Abundance - what a concept!
Last edited by OilFinder2 on Mon Jun 30, 2008 10:49 pm; edited 1 time in total
Posted: Mon Jun 30, 2008 10:36 pm Post subject: Re: Crude up $1.34 in Elec. Trading . . .
Actually, I just re-read that article, and he says they can even ramp up to 15 million bpd and sustain it for 50 years. With a ramp-up period, of course. And once again, this dates to 2004. Hope that's "prior" enough. Would be happy to provide the link. _________________ Abundance - what a concept!
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