Posted: Tue May 25, 2004 5:54 am Post subject: CNN: Crude Awakening
Supposedly, CNN will begin a series called "Crude Awakening" tonight (on Paula Zahn Now, 8pm ET). Not sure what it's about, but from the title, it might be of interest to the denizens of this board.
Boy, I just noticed the time stamp on my posts. The default on this board appears to be somewhere in Europe or Asia. Just testing to see if I've fixed it.
My original message was actually posted Tuesday morning, EDT.
Last edited by Leanan on Tue May 25, 2004 8:11 am; edited 1 time in total
Joined: Apr 03, 2004 Posts: 6547 Location: My Grandkids' Farm
Posted: Tue May 25, 2004 8:38 am Post subject:
Board time is computed from universal time (greenwich mean time), find your adjustment here: http://www.timeanddate.com/ _________________ Make a plan and work it:
I think I got it fixed. It's weird, though. Most boards default to GMT, or to ET or PT, if they're U.S.-based. But my default time was GMT + 10! I'm not even sure where that is. Tokyo? Australia? Russia?
Joined: May 23, 2004 Posts: 276 Location: Melbourne, Australia
Posted: Tue May 25, 2004 9:39 am Post subject:
Leanan wrote:
I think I got it fixed. It's weird, though. Most boards default to GMT, or to ET or PT, if they're U.S.-based. But my default time was GMT + 10! I'm not even sure where that is. Tokyo? Australia? Russia?
I was posting from tomorrow! :D
GMT+10
Hobart
Melbourne
Sydney
Brisbane
Port Moresby
Guam
Vladivostok
Joined: May 17, 2004 Posts: 293 Location: San Jose, CA
Posted: Tue May 25, 2004 4:30 pm Post subject: Crude Awakening airtime
It's on Tuesday night (5/25) at 5pm and 11pm Pacific Time, on Paula Zahn Now on CNN. Looks like it'll be on during those times every night this week. You can do a search for it here: http://tv.yahoo.com/
It was weird. They had Paul Roberts, author of The End of Oil : On the Edge of a Perilous New World as a guest. But he didn't say anything about oil depletion. Instead, he implied that the Saudis were to blame for high prices. And said we needed to think about our energy policy, not because oil might be running out, but because we shouldn't be so reliant on the unstable Middle East. Paula asked him, point-blank, if he thought the Saudis could really lower oil prices like they say they can, and he sort of evading answering, and implied that yes, they could.
That really wasn't what I expected from him. Was he afraid he'd sound like a kook if he mentioned oil depletion?
Also on the show was a Saudi guy, who claimed they'll give us as much oil as we want, when we want it, and said high prices were because of U.S. environmental laws. And a report on the U.S. gas distribution system.
Tomorrow's segment is about the stragetic petroleum reserve.
Joined: May 21, 2004 Posts: 82 Location: Kansas City
Posted: Wed May 26, 2004 8:43 am Post subject:
Listen to them talk about supply and demand without any thought toward supply:
Quote:
BRUCE BURKHARDT, CNN CORRESPONDENT: Supply and demand. It's that simple and it is that complicated. But let's take look at the demand side first. Where is it coming from, all this new demand that puts an upward pressure on prices? Well, the short answer is China and us.
(voice-over): China has been going through a huge growth spurt in their economy, and growth is fueled by petroleum. As for us, we're driving more, in cars that drink more gas, SUVs, light trucks. According to Department of Energy figures, we've used 300,000 barrels a day more during the first quarter of this year compared to last. That's a 3.5 percent increase. Now, combine that with what's going on on the supply side, and that's the recipe for high prices.
A couple of major causes for the supply problems -- and it's not all OPEC, but let's start with them. The cost of crude oil makes up by far the largest chunk of we pay for gas. Almost half of what we pay at the pump is the crude oil price. And OPEC, though they make up only about a third of the world oil supply, can control that third to have a dramatic impact on world-wide prices. Oil industry experts say the Saudis have much to do with that, with the world's largest supply of oil. By keeping their stocks low, they've kept the gas market tight, producing just enough to meet current demand. And OPEC has learned from Alan Greenspan. Just as anything he says can impact the financial markets, OPEC can whisper a rumor and send the oil markets skyrocketing.
(on camera): Now, that's the OPEC part of the problem, but here in the U.S., we've got issues, too, refining issues.
(voice-over): Our refining capacity hasn't kept pace with demand. Oil men say complex permitting procedures the myriad of environmental regulations have cut into profitability. Combine that with another challenge: Gas marketers must produce not just one or two types of gas but dozens of different kinds to meet local environmental regulations that can vary not just from state to state but sometimes from county to county. Producing so many different kinds with fewer refineries can create some bottlenecks in the flow -- i.e. shortages. And shortages equal higher prices.
In the end, gas prices aren't the result of economic or market processes alone. That would be complicated enough. But throw in international politics, and that is throwing gas on the fire.
Question of the day: is this ignorance or is it all part of the game gearing us up for the energy wars? Or can the Saudis continue producing 11 million barrels per day "for an indefinite period of time. By indefinite I mean a number of years".
Joined: May 21, 2004 Posts: 198 Location: East Coast USA
Posted: Wed May 26, 2004 2:22 pm Post subject:
Leanan wrote:
It was weird. They had Paul Roberts, author of The End of Oil : On the Edge of a Perilous New World as a guest. But he didn't say anything about oil depletion. Instead, he implied that the Saudis were to blame for high prices. And said we needed to think about our energy policy, not because oil might be running out, but because we shouldn't be so reliant on the unstable Middle East. Paula asked him, point-blank, if he thought the Saudis could really lower oil prices like they say they can, and he sort of evading answering, and implied that yes, they could.
That really wasn't what I expected from him. Was he afraid he'd sound like a kook if he mentioned oil depletion?
Also on the show was a Saudi guy, who claimed they'll give us as much oil as we want, when we want it, and said high prices were because of U.S. environmental laws. And a report on the U.S. gas distribution system.
Tomorrow's segment is about the stragetic petroleum reserve.
Roberts is actually quite conservative in his book regarding when world production will peak; he estimates a non-OPEC peak of about 2015 and an OPEC peak of about 2025. Having just read his book, I think it's clear he's not an oil guy in the vein of Campbell or Deffeyes. He's kind of a Harper's Magazine guy, kind of an environmental generalist with flowery writing taking precedence over diligent fact checking. I enjoyed his book and learned a few interesting things from it, but I would recommend Deffeye's book and Heinberg's book before his. _________________ www.searchingforthetruth.com
The truth that is suppressed by friends is the readiest weapon of the enemy.
- Robert Louis Stevenson
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