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Oil: still can't drink it.

thorin_bane
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Joined: Jun 19 2004

Source 1

A large Saudi oil tanker carrying a $100-million cargo that was hijacked Sunday by pirates in the largest ever such seizure has reached the coast of north Somalia, a regional maritime group said Tuesday.

The hijacking helped lift global oil prices by more than $1 US to over $58 US a barrel, although they later lost some gains.

Admiral Mike Mullen, chairman of the U.S. Joint Chiefs of Staff, said military intervention would be complicated by hostages and ransom demands.

"I'm stunned by the range of it," said Mullen.

 

Source 2

Light, sweet crude for December delivery slipped 55 cents to $54.40 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract Monday fell $2.09 to settle at $54.95, the lowest since January 2007. Prices have fallen about 62 per cent since reaching a record $147.27 in mid-July.

Stock markets, which oil investors use to gauge sentiment about the global economy, fell on mounting evidence that U.S. consumers are cutting spending as big corporations shed tens of thousands of staff.

I called th drop in oil back in june, but my co workers aid "the price of oil will never go down nevermind below 60 a arrel after the US election you idiot"

Call me an idiot, but the price of oil is plumeting. Also a good thing I told my nephew not to get too comfortable in Alberta (He moved their with his brother and his GF 8 months ago) They (petrocan) have decided to put on hold a number of projects until the "market picture becomes more clear'' what the hell are you reading, tea leaves?

Half of the ignorant comments involve dropping bombs on the prot of call for the civilians harbouring terrorists. the other half is it is an opec plot to drive up prices. At least one person was smartish and said it is more likely US backed like Iran contra. Why would opec not just cut production instead of hiring thugs to injure people. It CAN cut production. The funny thing is the US hates OPEC but their government gets to like and condemn their actions when OIL goes up from reducing worldwide oil supply.


Comments

Lard Tunderin Jeezus
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Joined: Aug 27 2001
Now that prices are suppressed in the short term, it is time to put a "meaningless" climbing surcharge on export costs over, say, $75 a barrel - so that Canada can take a piece of the outrageous profits during the post-peak oil era. Maybe, just maybe, it will allow us to fund a relatively painless transition for ourselves.

Lard Tunderin Jeezus
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Polly B
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Joined: Dec 15 2004

"There is no question the 20 per cent that's being extracted using surface mining involves significant disruption, as with any mining operation."

This reminds me of a movie my kids watched over and over during the 90's.  In it, a gas guzzling oil burning emission belching rain forest destroying machine is piloted towards Ferngully, the last rainforest.  One of the operators questions the other - "Ferngully?  You know what that means don't you?"  The other guy answers..."yep, beaucoup overtime!"

 

 


Lard Tunderin Jeezus
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Joined: Aug 27 2001
Experts, to Stelmach and Harper: Liar, Liar, pants on fire

The briefing notes, obtained by CBC News under freedom-of-information legislation, are based on the findings of a joint Canada and Alberta task force on carbon capture and storage.

Little of the oilsands' carbon dioxide can be captured because most emissions aren't concentrated enough, the notes say. For efficient capture, there must be a high concentration of CO2 coming out of a smoke stack.

"Only a small percentage of emitted CO2 is 'capturable' since most emissions aren't pure enough," the notes say. "Only limited near-term opportunities exist in the oilsands and they largely relate to upgrader facilities." 

Lard Tunderin Jeezus
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Joined: Aug 27 2001

For nearly a whole week, gasoline prices were actually competitive in Ontario. So far as I've seen, that's happened only twice in the three+ years that gasgouge.ca has been available online.

But don't worry, Big Multinational Petroleum Pirate Cartel - life is back to normal now, and we're all being screwed once again.


Lard Tunderin Jeezus
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Joined: Aug 27 2001
Oil - still can't drink it, or the water either, apparently.

Oilsands production is releasing four billion litres of contaminated water into Alberta's groundwater and natural ecosystems every year, according to a new national report that was immediately dismissed as "false" by the provincial government.

The annual volume of water pollution in 2007 would have been enough to fill Toronto's Rogers Centre, but could be stopped if the federal government started enforcing its Fisheries Act, the report says. 


SwimmingLee
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Joined: Dec 22 2007

I have taken some classes that relate to alternative energy.  One of the things that has become obvious is that, to a bacteria, gasoline has no effective energy content.  Whereas garden trimmings and other organic compounds are a veritable feast.  If you can find a way to then harness the power of those bacteria ... 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

http://LASIK-FLap.com ~ Website Created by Injured LASIK Patients


Lard Tunderin Jeezus
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Joined: Aug 27 2001
I believe unleashing such "harnessed bacteria" is a far more likely end-of-the-world scenario than, say, grey goo.

Biotech released into the biosphere is a bad idea, and a worse and worse one as one approaches the base of the food chain.


outwest
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Joined: Dec 2 2008

 

This morning's national CBC Radio news neglected to report today's breaking story that massive amounts of toxins have been conclusively found to be leaking from the Alberta tar ponds (Dr. Schindler, Canada's foremost water expert, calls them tailing "lakes"). This contamination puts Canada's entire northern Mackenzie Basin water system at risk.

Instead, CBC aired the day-old story about a small plane that crashed in California, killing 3 people. Now, as tragic as that one-time event is, which of those stories do you think is more important to Canada?

 

***Beep beep beep. Incoming News flash: Journalists at CBC, our national public broadcaster, have been found to have pea brains.


thorin_bane
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Joined: Jun 19 2004
Lard Tunderin' Jeezus wrote:
I believe unleashing such "harnessed bacteria" is a far more likely end-of-the-world scenario than, say, grey goo.

Biotech released into the biosphere is a bad idea, and a worse and worse one as one approaches the base of the food chain.

LTJ Are you pimping for Bob MacDonald. They needed to update that segment since they happened to be replaying it anyway...number 11 STEPHEN HARPER....yes he is worse than a supernova, a blcak hole, grey goo, superwinter, etc. 

 

CBC has really gone hill (not Q&Q). But they mentioned this morning about the Toronto House Tax. Aparently CD HOWE(which gets more airtime than the NDP/Bloc combined) said this tax was responsible for the crumbling housing market in Toronto. Then Maryval Taruk(sp) parrots the line without being smart enough to look at ANY community outside of TO for comparable data. I guess a doom and gloom story about taxes causing the end of civilization is way better than journalism. Toronto has been one of the last places hit in Ontario as manufacturing centres have been seeing their housing drop for quite a while.

Windsor housing market went bust almost 3 years ago, or I would have sold my house. Oshawa and St Catherines have seen it happen last year. Toronto finally starts to lose its housing price(and they do have a lot of manufacturing) and all of the sudden it's the housing tax. Stupid reporter, even stupider cd howe. Making something out of less than nothing. Using the same logic and looking at province wide data, I could rightly say that the Tax was the reason that Toronto managed to NOT have their market sink as quickly as the other. But I wouldn't bother because their is no REAL data to support such a claim. Nice to have ideological blinders on to the entire real world.

 Oh I saw the poo eating bacteria thing about 5 years ago(an article),  and they said at the time it was 20 year old tech from germany. Being able to harness heat from bacteria that eats poo. The deisel powered algae is also kinda interesting. They found them to have up to 30% bodymass convert to deisel. While regualr plant to fuel is about 6% so it is very significant....they also propogate very quickly.

______________________________________________________________________________________ "Everybody's worried about stopping terrorism. Well, there's a really easy way: stop participating in it." Noam Chomsky


thorin_bane
Online
Joined: Jun 19 2004

Check out the comments

 

A lot of people in canada have no idea how the economy or stock or ANYTHING works. I was at the cbc board for the news that the cut in oil didn't effect the price in oil...ARABs are evil ...greedy..etc. These people don't get that we are also dependant on the price of oil.

CanadianArmedForces "Veteran 1960" wrote:
Posted 2008/12/17
at 8:21 AM ET

"Can't wait for the day these bloody Arab OPEC countries, dry up and vanish in the wind!"

Take the money out of their hands and they won't have it to invest in terrorism.

 

Wow total ignorance. I am losing faith in the people in this country.It's like we are becoming american and don't understand ANYTHING outside our border. Hell from those comments those two idiots don't understand what is happening inside our borders. Our production is 40 a barrel for tar sands which is owned by exxon shell etc, but this is the arabs fault because opec is pushing up the price.....who do they think pumps the oil from those countries..exxon shell etc. Moron. If one part of my business needs 40 dollars to make it profitable and I can do this(raise costs) by cutting supply in the oil that is EASY to get at. Wouldn't it be nice if the big 3 could cut the production of vehicles from other countries so they could bring the price up. It isn't opec it is the owners of opec. 

Don't get me wrong I am all for the oil market falling out, But it has to happen because we have shifted to green policy not because of the recession alone.

CBC just reported that the TSX was shut down for the first time ever yesterday...I don't get it. Seems fishy.

______________________________________________________________________________________ "Everybody's worried about stopping terrorism. Well, there's a really easy way: stop participating in it." Noam Chomsky


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Just checked out gasgouge.ca again. At current rates (local prices being $1.015+), the oil industry is gouging Canadians $2.75 BILLION annually.


Sven
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Joined: Jul 22 2005

Lard Tunderin Jeezus wrote:

Just checked out gasgouge.ca again. At current rates (local prices being $1.015+), the oil industry is gouging Canadians $2.75 BILLION annually.

Wow!!

Not.

Even if that number is accurate, that’s a whoppin’ 22¢ per day per Canadian.


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Yep. That's just over $80 each, every year stolen from each and every man, woman and child in the nation.

I say stolen, because it's money the industry claims not to take on many of the gas pumps across the nation. Stickers provided by the industry proclaim the efficiency and narrrow profit margins that gasgouge.ca bases their calculations on.

That's right, these profits are excessive and gouging according to the petroleum industry itself - and likely proof of illegal and anti-competitive collusion, according to industry watchers.


Sven
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Joined: Jul 22 2005

Lard Tunderin Jeezus wrote:

Yep. That's just over $80 each, every year stolen from each and every man, woman and child in the nation.

I say stolen, because it's money the industry claims not to take on many of the gas pumps across the nation. Stickers provided by the industry proclaim the efficiency and narrrow profit margins that gasgouge.ca bases their calculations on.

That's right, these profits are excessive and gouging according to the petroleum industry itself - and likely proof of illegal and anti-competitive collusion, according to industry watchers.

How much of the price of ever liter of gasoline is composed of government taxes?

Talk about being "gouged".


Sven
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Joined: Jul 22 2005

The US is a relatively low-tax jurisdiction with respect to gasoline.  But, even here, about 20% of the retail price of gasoline is composed of federal and state taxes (or about 50¢ per gallon).  According to the DOE, about 140 billion gallons of gasoline were purchased in the US in 2008 (meaning about $70 billion in gasoline taxes -- or about $250 per "man, woman, and child").

In Canada, the taxation is worse (according to Wiki, fully 1/3rd of the price of petrol is composed of taxes).


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Given that the majority of gasoline taxes are targeted at maintaining roads and highway infrastructure, I'd say they are better described as 'user fees'.

But thanks, once again, for derailing the conversation with inane observations peripheral to the topic.


Sven
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Joined: Jul 22 2005

So, what are "normal profit margins" (as referenced at the gasgouge.ca site)?


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Just hold your breath while I jump through these hoops for you....


Sven
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Joined: Jul 22 2005

Lard Tunderin Jeezus wrote:

Just hold your breath while I jump through these hoops for you....

Seriously.  The whole claim of gouging depends on how the term "normal profit margins" is defined.

I've done a search on the linked-to policyalternatives.ca website...and there are many references to "normal profit margins" -- but I've yet to see the term defined or quantified.


Sven
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Joined: Jul 22 2005

Here's an example of a reference to the "gouging calculator":

"By visiting www.gasgouge.ca, drivers can type in what they paid for gas that day and with the click of the mouse they will be told what the price should have been and how much profit their over-paying generated for the gas industry. (The calculation takes into account normal profit margins.)"

But, where are "normal profit margins" defined or quantified?

Yet, you simply take the "gouging calculator" at face value -- without the slightest inquiry regarding the fundamental premise underlying the claim.


Lard Tunderin Jeezus
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Joined: Aug 27 2001

How many times do you need to see the same answer?

The petroleum industry has defined and quantified the term for them in their own propaganda, plastered on gasoline pumps across the country.


Sven
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Joined: Jul 22 2005

Lard Tunderin Jeezus wrote:

How many times do you need to see the same answer?

The petroleum industry has defined and quantified the term for them in their own propaganda, plastered on gasoline pumps across the country.

What does that even mean?  Do you know?


Fidel
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Joined: Apr 29 2004

I think someone said once that if fossil fuels didn't exist, warmongering blood for oil hounds would have to invent them. Or something like that.

Mr. McGuire: Ben I want to say one word to you. Just one word. 
Benjamin: Yes, sir.
Mr. McGuire: Are you listening?
Benjamin: Yes, I am.
Mr. McGuire: Plastics.

And Sven said: What does that even mean? Do you know? 


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Sven wrote:

What does that even mean?  Do you know?

Why yes, I do.

Why are you spending your time trying to defend the oil oligopoly, Sven?


Sven
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Joined: Jul 22 2005

Lard Tunderin Jeezus wrote:

Quote:

What does that even mean?  Do you know?

Why yes, I do.

Well?


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Lard Tunderin Jeezus wrote:

Just hold your breath while I jump through these hoops for you....


Sven
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Joined: Jul 22 2005

Lard Tunderin Jeezus wrote:

Lard Tunderin Jeezus wrote:

Just hold your breath while I jump through these hoops for you....

You have no clue what a "normal profit margin" is.

Of course, you are the same one who claimed that enormous profit margins were made by electronics sellers some months ago, too.


Sven
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Joined: Jul 22 2005

It's like a "worldly" five-year old telling a friend that she knows where babies come from.  When the friend, who was skeptical of the five-year old's claimed knowledge, asked, "Okay, so were do babies come from?"  The five-year old's response:  "I'm not telling."

You sound suspiciously like that five-year old, Lard.


Lard Tunderin Jeezus
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Joined: Aug 27 2001

Sven wrote:

Of course, you are the same one who claimed that enormous profit margins were made by electronics sellers some months ago, too.

No, that was you, actually - when you were disputing the narrow margins on iPod products, and inanely spewing opinions on Canadian distribution channels that you have no concept of, nor contact with.

Still got your knickers in a knot over that, do you?


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