ive seen evidence that oil never sold above 15$. Everything above that was just the speculative market :lol:
Like scalpers at a concert event
Oil
- Thread starter petros
- Start date
ive seen evidence that oil never sold above 15$. Everything above that was just the speculative market :lol:
Like scalpers at a concert event
Nope, it was all done in the wide open back in 04-06. Made the news and everything.
It was a over the news about 12 years ago.
It was a over the news about 12 years ago.
With daily production in excess of 30 million barrels per day it doesn't take long to build up an inventory. Fluctuations in global production and consumption can go either way. Since the early 2000's supply often fell short of demand and, with the exception of the price crash in 2008 has meant that there was usually more than enough customers to go around. Of late, with the drop in demand, many OPEC countries have gone heavy into stockpiling, with tank farms sprouting up everywhere, and tankers full of oil sitting at anchor.
https://www.eia.gov/forecasts/steo/report/global_oil.cfm
I shouldn't confuse the issue by using the term "shale oil" which can apply to kerogen deposits as well as non-kerogen, oil bearing shale formations. "Tight oil" is probably a better term. While the oil has always been known to be there it was not generally regarded as accessible until relatively recent advances in fracturing and horizontal drilling technologies. The bottom line is that North American supplies are much greater than was widely perceived at the turn of the millennium when the "peal oil" shadow hung over the industry. Now that the peak oil scenario has been pushed back a couple or three hundred years the more immediate issue of maintaining market share in what has become an oil glut has taken top priority.
Where are these tank farms? Can I see photos?
What do Saudis and Yemen sit on that is untapped and intended to free Europe from Gazprom's monopoly?
How did they plan on getting it to Europe?
What are Israel, Lebanon, Palestine, and Egypt sitting on that they can't get to EU markets?
What is Iran, Iraq and sever "Stans" sitting on? What was their planned route?
Who or what is standing in the way, how did they plan on funding it all and who is backing whom?
The same is going on in Canada and the US, with existing tanks farms at or near capacity and new construction projects underway. A simple google search on things like "oil storage" or "floating oil storage" or simply "oil inventories" will lead you to plenty of reading. Here's a couple of starters:
http://oilprice.com/Energy/Crude-Oil/Oil-Tankers-Are-Filling-Up-As-Global-Storage-Space-Runs-Low.html
http://oilprice.com/Energy/Energy-General/The-World-Is-Not-Running-Out-Of-Storage-Space-For-Oil.html
Yep, while I was obviously prepared to pay for it (as another choice wasn't on the horizon)
It was overpriced and overly sensitive to market swings to max out the profits for the owners and the main shareholders. That would not include all the Govt taxes on top of that. The swing to that level of robbery started with the creation of the FED in 1913.
Lots of improvements can still be done once cams are electronic rather than mechanical like 1 cylinder firing when idling and 8 firing when acceleration is needed.
Electric for the trips to the corner store or when the loads are under 200lbs. It is the waiting that makes driving expensive. When the brakes are on the engine should stop and when the brakes are released the engine would start via the pressure the brakes were holding.
Lots of improvements can still be done once cams are electronic rather than mechanical like 1 cylinder firing when idling and 8 firing when acceleration is needed.
Huh...guess that depends on your knowledge of history,
& measurement there of. Lets go to the scoreboard....
The three most western provinces in the country, and the
three smallest recipients of equalization pay outs....so
parasitical. Much confused perception. Such confusion.
Are you familiar with 'doge'???
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Huh...guess that depends on your knowledge of history,
& measurement there of. Lets go to the scoreboard....
The the most western provinces in the country, and the
three smallest recipients of equalization pay outs....so
parasitical. Much confused perception. Such confusion.
Are you familiar with 'doge'???
Ruler of Venice, right?
The world commodities market where the traders set the price and play
with the lives of people around the world. It is time to reign them in a bit
The stock market industry needs regulation and that would come in the
form of insisting all resource materials must be sold as finished product.
Don't hold your breath
with the lives of people around the world. It is time to reign them in a bit
The stock market industry needs regulation and that would come in the
form of insisting all resource materials must be sold as finished product.
Don't hold your breath
Yes, the Corporation known as Canada is along with partners do play roles in the markets.
What other Nation Corporate entities are involved.
What other Nation Corporate entities are involved.