1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

Bush wins another one for his buddies in the oil Industry

Discussion in 'BBS Hangout: Debate & Discussion' started by mc mark, Mar 16, 2005.

  1. basso

    basso Member
    Supporting Member

    Joined:
    May 20, 2002
    Messages:
    33,363
    Likes Received:
    9,290
    Nukular power.
     
  2. bigtexxx

    bigtexxx Member

    Joined:
    Jun 12, 2002
    Messages:
    26,976
    Likes Received:
    2,358
    That quote on wind power can't include installation cost and the cost to connect to the existing power grid through transmission lines. They need to amortize those costs over their operational and maintenance costs, as well. You can't just look at the O&M costs and assume that it's a better deal than coal. Another problem with wind is that you can't accurately plan for when the wind is going to blow, which makes it difficult to coordinate the power coming onto the transmission grid, which is a delicate balance. Windy parts of the US tend to be remote places like in West Texas, which would necessitate gigantic capital requirements to connect the windmills to the transmission grid.

    I wish we could find renewable sources to power the country's electricity needs, but I don't think wind is the answer. I'm more in favor of clean coal solutions.
     
  3. El_Conquistador

    El_Conquistador King of the D&D, The Legend, #1 Ranking

    Joined:
    Jun 11, 2002
    Messages:
    15,564
    Likes Received:
    6,553
    All of this assumes no increase in reservoir recovery rates. With the new technologies in place AND with the inherent conservatism in the government's forecasts, the potential for finding much much more than we expect is very high. This is exactly what happened with Prudhoe Bay.
     
  4. Invisible Fan

    Invisible Fan Member

    Joined:
    Dec 5, 2001
    Messages:
    45,954
    Likes Received:
    28,048
    Well, the article places benefits of creating new wind plants over the creation of new coal plants (Clean coal?). All new entries would have to factor in costs connecting to the grid. Most areas of studies have been to place wind towers in rural agrarian areas to fit local needs and reduce connection costs.

    Besides, while there were concerns about the costs of sending a pipeline from Alaska to the Continental US, it was done. We have massive construction projects from Alaska to California to provide our water needs. If it's essential to our national security. It gets done.

    Anyways, there's been proposals to use kinetic flywheels in order to store power generated at night when demand isn't high and using it during peak day hours when consumption taxes the system. It's not far off to spin off that proposal to have a steady rate of energy production from a centralized plant. At the moment, I'm too lazy to provide a link on flywheel development. It is an interesting read if you're willing.

    I understand that most of the current transmission infrastructure is geared towards current energy needs. Our 50 yr old transmission systems need an overhaul. A lot of the power on our current grid is lost during transit. We have the tech to improve energy efficiency and to accomodate new technologies.
     
  5. SamFisher

    SamFisher Member

    Joined:
    Apr 14, 2003
    Messages:
    61,826
    Likes Received:
    41,301
    OK, texxx, please put down that receptacle. Jorge, listen up. Robbie, pay attention. Fatty - uh, you, uh, Fatty just keep doing what you're doing and ignore this

    According to the latest figures I could find from the DOE, the estimated impact of ANWR drilling on oil prices is estimated to be under 50 cents a barrel. Wow!

    http://www.msnbc.msn.com/id/4542853/

    That is HUGE. In related news, crude oil went up $1.41 today to 56.46. If only we had, like 3 ANWR's operating simultaneously, this tragic price increase would have never happened.

    Can somebody tranlate this to gas prices please? I'm expecting a whopping few cents on the gallon. HELLO SAVINGS!!!!!!!

    I for one can't WAIT to start spending my extra cents. I've got my eye on a Subway value meal WITH a cookie AND chips.
     
  6. El_Conquistador

    El_Conquistador King of the D&D, The Legend, #1 Ranking

    Joined:
    Jun 11, 2002
    Messages:
    15,564
    Likes Received:
    6,553
    Again Sam, these figures are based on very conservative estimates. If Prudhoe Bay is any indication, we will find much more oil than previously expected once we start drilling. The bottom line is that this creates jobs for Americans (you seemed to be in favor of this during the election cycle), it reduces the price of oil, it decreases foreign dependency, and it increases tax revenues. If you isolate any oil field, the numbers will look small. As such, your analysis is ridiculous. This has the potential to be the largest domestic oil field. Oh by the way, it also has vast amounts of natural gas -- another widely used commodity that ripples through the entire economy. You haven't even touched on those benefits.

    So Sam, give us your position.

    Would you rather have more jobs, more tax revenues, a lesser dependency on foreign oil, and lower oil and gas prices?

    or

    Would you rather protect the mating habits of porcupine caribou?


    The choice is simple. Heck, the choice is made. This is happening. Your position fell. Hard.
     
  7. bigtexxx

    bigtexxx Member

    Joined:
    Jun 12, 2002
    Messages:
    26,976
    Likes Received:
    2,358
    Sam, you seem to be a competent researcher. As you further prove your worth in this field, I may entrust you with more and more responsibility and more meaningful tasks. Now get back to your document review duties.
     
  8. Deckard

    Deckard Blade Runner
    Supporting Member

    Joined:
    Mar 28, 2002
    Messages:
    57,785
    Likes Received:
    41,212
    Bush campaign contributors get what they paid for, and Bush voters get to answer some very pointed questions from their grandchildren about why the country is in the toilet, and how they helped put it there.

    Have fun.



    Keep D&D Civil!!
     
  9. Fatty FatBastard

    Joined:
    Jul 13, 2001
    Messages:
    15,916
    Likes Received:
    159
    Yup, exactly. We are killing our grandchildren's future. :rolleyes:

    The original pipeline has been an ecological success. Period. If they can build a new pipeline through the most desolate part of the U.S., then by all means, do it.

    I'd loved to have seen y'alls arguments a century ago about Rail.

    This will improve the Nation's economy. To what degree is irrelevant. Pipeline's have done no irreparable damage to the environment, whatsoever.

    If y'all are worried about oil spills, there's never been a major spill in a pipeline before.



    And Sammy; you just like looking at your words in print, don't you?
     
  10. 4chuckie

    4chuckie Member

    Joined:
    Nov 12, 1999
    Messages:
    3,300
    Likes Received:
    2
    Why can't you do both (reduce the cost of oil and find alternate fuels)?
     
  11. mc mark

    mc mark Member

    Joined:
    Aug 31, 1999
    Messages:
    26,195
    Likes Received:
    471
    Oil prices will never go down! NEVER! Especially if this administration has anything to do with it.
     
  12. Lil Pun

    Lil Pun Member

    Joined:
    Oct 6, 1999
    Messages:
    34,143
    Likes Received:
    1,038
    That's what I think too.
     
  13. bigtexxx

    bigtexxx Member

    Joined:
    Jun 12, 2002
    Messages:
    26,976
    Likes Received:
    2,358
    Great insights, mc mark and lil pun. I can tell you've thought through your positions over long periods of time.
     
  14. mc mark

    mc mark Member

    Joined:
    Aug 31, 1999
    Messages:
    26,195
    Likes Received:
    471
    I thought someone like you would be happy with that.
     
  15. StupidMoniker

    StupidMoniker I lost a bet

    Joined:
    Jul 18, 2001
    Messages:
    16,150
    Likes Received:
    2,817
    Yeah. If you think the Dems have problems with drilling in Alaska, wait until people start asking to build nuclear reactors all over the place.

    I think we need to devlop some tidal based generator that is efficient, but I am not sure how practical that is, or if the environuts will allow power plants up and down the coastlines. We need to take advantage of the 100% limitless energy that nature provides.

    Neither of those preclude us from taking advantage of the consumable resources that we have. If we can exploit those resources with minimal impact (and apparently we can) there is no reason not to.

    Anyway, haven't you been watching 24? :rolleyes: :D
     
  16. Lil Pun

    Lil Pun Member

    Joined:
    Oct 6, 1999
    Messages:
    34,143
    Likes Received:
    1,038
    Just because I post a straight-to-the-point answer about what I think doesn't mean I haven't thought it out smarty. I guess you want me to post an essay style answer to please you, eh? Sorry but I will say this:

    Oil may drop but I don't think it will ever fall to the prices they used to be, not even this time last year when it was going for a measly $37 a barrel. I think it is going to stay hovering around the $50 range for a while, hell the warmer months are coming up, which is typically the highest price period for oil, so all it is going to do for the next 6-8 months is rise, if it does anything at all. I think there is a slim chance for it to fall. What needs to happen for it to fall? OPEC needs to raise output, things need to get stabilized in Iraq so the oil supplies from that country can be fully utilized, the oil that everybody thinks is in Alaska actually needs to be there, other oil sources must be found, and the further development of alternative fuel supplies. Even if all this happens the demand for oil is constantly increasing and the way it's looking with the other things I mentioned I'll take my chances with oil staying around where it is before I ever bet on it falling too much.
     
  17. mc mark

    mc mark Member

    Joined:
    Aug 31, 1999
    Messages:
    26,195
    Likes Received:
    471
    OPEC says it has lost control of oil prices

    Cartel producers say they can't keep up with strong global demand

    By John W. Schoen
    Senior Producer
    MSNBC

    Updated: 4:13 p.m. ET March 16, 2005Despite a pledge by OPEC ministers to increase oil production, don't expect much of a break on oil prices. With crude oil prices hitting a record $56 a barrel Wednesday, OPEC ministers meeting in Iran have been grappling with a problem they haven’t confronted in the cartel’s 45-year history. In the past, OPEC tried to cool overheated prices by pumping more when supplies got too tight. But most OPEC producers say they’re already pumping as fast as they can. And despite the high cost of a barrel of crude, world demand shows no signs of slowing.

    To help stop the surge in prices, OPEC ministers agreed to pump an extra half million barrels of oil a day beginning April 1. OPEC said it would consider pumping more later if the extra oil doesn't push prices lower.

    But even before the decision was announced, some ministers had openly expressed doubts that the move will do any good, saying they’ve run out of options in trying to rein in the price of crude. Global oil demand has taken up most of the slack in extra OPEC capacity. Consumption is now believed by many analysts to be pressing up against the limits of what the world can produce. Saudi Arabia is the only country believed to have any surplus production left, and even then the Saudis are pumping close to 90 percent of capacity, according to the U.S. Department of Energy.

    "There is not much we can do,” Algerian Oil Minister Chakib Khelil told reporters Tuesday in Isfahan, Iran, the site of Wednesday’s meeting.

    "OPEC has done all it can do.” Qatar Oil Minister Abdullah al-Attiyah said. “This is out of the control of OPEC."

    The oil markets seem to agree. After word came that OPEC pledged to pump harder, oil prices surged Wednesday on concerns about the latest weekly reports on inventories.


    Crude for April delivery rose $1.41 to settle at $56.46 a barrel Wednesday, the highest price for the commodity on the New York Mercantile Exchange since it introduced crude oil futures trading in March 1983.

    Crude prices soared after the EIA reported that domestic gasoline stocks in the March 11 week fell 2.9 million barrels to 221.4 million barrels -- nearly three times the decline forecast by analysts. A year ago, gasoline stocks stood at 202.4 million barrels.

    And even as President Bush expressed concern Wednesday about rising oil prices, he cited tight global supplies -- not OPEC policies -- for the price surge.

    “I think if you look at all the statistics, demand is outracing supply and supplies are getting tight. And that’s why you’re seeing the price reflected,” Bush said.

    OPEC's admission that has lost control of oil prices hasn’t eased political pressure on the cartel. On Tuesday, several oil ministers said they had received calls from U.S. Energy Secretary Sam Bodman. Sen. Ron Wyden (D Ore.) said Tuesday he’s not convinced that OPEC’s hands are tied by global demand reaching the limits of production capacity.

    ‘This is their claim. But the fact of the matter is that nobody knows what their capacity is.’

    “This is their claim,” said Wyden. “But the fact of the matter is that nobody knows what their capacity is.”

    Though data on OPEC’s oil production capacity have always been hard to come by, there’s little disagreement on the rapid growth of global consumption -- especially in China and India. With worldwide demand this year rising by roughly 2 million barrels per day, whatever excess capacity is out there will be gone soon, according to Marshal Adkins, an oil industry analyst at Raymond James

    “Maybe this year, but certainly in ‘06 there won’t be any excess capacity,” he said. “We haven’t been in that kind of market in our lifetime. You’ve always have more capacity than demand.”

    That’s little solace to energy consumers, who are watching rising crude oil prices push pump prices to record levels. Though U.S. economy has yet to show signs of slowing and inflation remains low, a continued rise in oil prices will eventually slow growth, analysts say.

    “We will find the price level that will slow demand,” said Adkins. “It may be $60; it may be $100. I think it’s fair to say its going to be in that price band.”

    http://www.msnbc.msn.com/id/7190109/
     
  18. Invisible Fan

    Invisible Fan Member

    Joined:
    Dec 5, 2001
    Messages:
    45,954
    Likes Received:
    28,048
    If there was a genuine concern to do both, we wouldn't be facing the prospect of 3 dollar prices (in California) throughout the entire summer. Possibly 2.80/gallon in Texas. The possibility of trying to do both was raised in the early 90s, yet domestic consumption and emissions have increased since then. Efficiency should've offset growth, but SUVs are profitable and popular.

    We're running on the same known oil reserves. The only difference between now and then is that the Chinese are demanding more. Proposals like shale oil extraction or deep sea drilling is only prolonging the inevitable. None of that seems to convince people that we have to change now instead of procrastinating the day before it really hurts.
     
  19. Sishir Chang

    Sishir Chang Member

    Joined:
    Nov 12, 2000
    Messages:
    11,064
    Likes Received:
    8
    I've always felt the ANWR issue was a big distraction in the whole energy debate. While in general I would prefer not to drill in ANWR from what I've been seeing of drilling technology I don't think its going to be that big of a deal.

    OTOH drilling in ANWR isn't going to do much at all for our current energy situation. Any oil out of there will go into the global oil market and won't be enough to influence oil prices over the long run which will still be driven by OPEC. So while it might make a dent that will be pretty small compared to what happens in the Middle East, Venezuala and other places.

    In the end ANWR is only barely delaying the inevitable end of easy available oil, which according to some has already come. While those who support this are crowing now sooner or later we will run out of oil and we better start thinking now of moving towards other sources before we hit a real crunch. Or at least we better be thinking how to stretch it as much as we can.

    This is one thing why I've never understood why economic conservatives outside of Paul Weyreich haven't embraced energy conservation. Doesn't it make sense to start investing in conservation and renewables now to cut down on energy costs over the longterm?

    Apparently some are more interested in scoring political points sticking it to the liberals than thinking about longterm economic consequences of relying upon an inevitably diminishing resource.
     
    #79 Sishir Chang, Mar 16, 2005
    Last edited: Mar 16, 2005
  20. wizkid83

    wizkid83 Member

    Joined:
    May 20, 2002
    Messages:
    6,347
    Likes Received:
    850
    can't you power cars with hemp? Andymoon, know anything about this?
     

Share This Page