8.1 Van wrote: Muhammed Matloob, who manages a gas station at Coney Island Avenue and Lewis Place in Brooklyn, is out of 4s for his regular pumps and 5s for his diesel.
Okay, now it is time to panic: they are running out of 4s & 5s!
Dang! and I just sold all of my stock in the 4s & 5s are Us company.....
2003 Chevy BlailTrazer (it likes that name)
One small 4 person Coleman
One HUGE 12 person Behemoth Coleman.
A dog that loves animals.
A cat that thinks it's a dog.
Not enough two-day weekends in my work scheduale.
If, for some strange reason, drilling or pumping is again allowed in the CONUS, I think you will find that there are many wells already drilled, but just capped.
What do you want to bet that oil would gush in from all over the moment the permission was given? Bringing in wells and capping them was a great idea in the 80's and waiting until such time that the "Price is Right" to announce "New Sources". Surprise,Surprise, Surprise. I feel that the oil industry looks far into the future about it's operations, compared to the "Near Sighted" Gov and Public.
"We'll pump no oil before it's time" may be their motto.
Conspiracy? No such thing........Yeah right.
"Light the fires and kick the tires good buddy". Independence Day is coming.
lwmuddy wrote: If, for some strange reason, drilling or pumping is again allowed in the CONUS, I think you will find that there are many wells already drilled, but just capped.
What do you want to bet that oil would gush in from all over the moment the permission was given? Bringing in wells and capping them was a great idea in the 80's and waiting until such time that the "Price is Right" to announce "New Sources". Surprise,Surprise, Surprise. I feel that the oil industry looks far into the future about it's operations, compared to the "Near Sighted" Gov and Public.
"We'll pump no oil before it's time" may be their motto.
Conspiracy? No such thing........Yeah right.
"Light the fires and kick the tires good buddy". Independence Day is coming.
I recall watching a program about oil and it was mentioned about the NUMEROUS capped wells in the US because the cost of pumping was too high. I would think that many of those capped wells were opened again as the oil prices began rising, however, I would imagine there are still wells that the effort to retrieve the oil is still too costly.
Wasn't one of Mike Rowe's Dirty Jobs program segments about oil pumping. They had him mixing the proper slurry, very specific for type of well, that was used to pump into the well so the oil could be forced out since the pressure had decreased due to the removal of the oil.
Having worked in the oil patch of Texas last year and seeing what is actually happening and talking to the people who drill wells, all I will say is, "there is no shortage of crude oil in the US at this time". Sure we don't pump as much percentage wise as we used to, but volume wise we are pumping more than ever and they still have wells capped for a later date. In our region alone, we had 9 rigs drilling new wells 24/7 and started a new one as soon as current one came in. Sorry, but price and availability are not related.
Bob & Betsy - USN Ret'd '78 & FL LEO Ret'd '03 FMCA #F203528 '05 HR Endeavor, 40PRQ w/400 Cummins - With -'05 GMC Sierra LT, CC Z-71, the pusher '07 Arctic Cat 500A & Wilderness Kayak, riding in the pusher - Our Current Location
Between 1998 and 2008, the average price of crude rose 13x (from a bit over $11 per barrel in '98 to a recent peak of $145+) while retail gasoline rose "only" about 4x in the same time period (from $1.10 in '98 to a recent national average peak of over $4.00 for unleaded regular). Viewed in that perspective, we're lucky retail prices aren't a lot higher, and it also illustrates how retail gasoline prices aren't directly linked to world crude prices.
I'm not an expert, but I would think that what isn't cost effective to recover at $11 would tend to be more so at $130 +/-, if they're allowed to go get it.
Everyone is pointing their finger at China and India as the reason for the increase in fuel prices. This snippet from an article in today's news says something different.
California Uses More Gasoline and Diesel than China
by Michael Graham Richard, Gatineau, Canada on 07.18.08
Cars & Transportation
37 Million vs. 1.3 Billion
Truly an amazing statistic, via Wired. According to the California Energy Commission, the state with its 37 million people uses more gasoline and diesel than any other country on Earth except the US as a whole. That's more than India with its 1.1 billion people. More than China with its 1.3 billion. So while demand has been increasing in China and everybody's talking about that, they forget to look at absolute numbers: 20 billion gallon of gasoline and diesel are used each year in California, 6.7 billion gallons more than in 1988.
Offline
