If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The Star)   Saudi oil minister says $50 per barrel of oil is too much, will increase production by half a million barrels per day   (biz.thestar.com.my) divider line 178
    More: Cool  
•       •       •

7020 clicks; posted to Main » on 15 Jun 2005 at 6:22 AM (9 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



178 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | 3 | 4 | » | Last | Show all
 
2005-06-15 07:53:28 AM  
remirol: I think the peak-oil loonies are just that, Chicken-Little brand certified loonies.

Yeah 'cause oil is constantly manufactured by the earth so we have a never ending supply.
 
2005-06-15 07:54:24 AM  
can any swedish farkers (do they exist?) fill us in on the swedish biofuel car power industry?
 
2005-06-15 07:59:18 AM  
LaserDragon

I don't understand politics. All I know is That I am delpoloyed in Kuwait. Kuwait is filthy rich on oil. These guys all have nice cars and none of them have to work on american military bases for anything. They're too rich. I've been here 6 months, and never seen a kuwaiti on base. They're all sri lankan or indian or something else. OPEC can act like they need the money, but I really wonder...

Kuwait's lines in the sand, drawn by the English first, were strategically positioned to cut off Iraq from the ocean to be the constant middle-man between Iraq and worldwide exporting. That's why the locals are rich. You're the security guard at the bank with the armored car.
 
2005-06-15 08:11:06 AM  
Raise gas prices!!!!!

/Wants all SUV's destroyed
 
2005-06-15 08:12:41 AM  
21-7-b:

can any swedish farkers (do they exist?) fill us in on the swedish biofuel car power industry?

bugger that. Support the american biofuel industry.
biodiesel.org
pacfuels.com (I think)
 
2005-06-15 08:15:46 AM  
 
2005-06-15 08:17:21 AM  
HEMP OIL! The thermochemical process that converts organic materials into usable fuels is called pyrolysis. This consists of applying high heat to organic matter, in the absence of air or in reduced air. This can produce charcoal, non-condensable organic liquids known as pyrolytic fuel oil. Pyrolysis can take two pathways to produce energy fuels with high fuel-to-feed ratios. It is the most efficient method of biomass conversion, capable of competing with, and eventually replacing, non-renewable fossil fuel resources while being refined using the same technology.

/just say'in
 
2005-06-15 08:20:50 AM  
http://www.oilcompanies.net/

Thanks Red States!
 
2005-06-15 08:23:22 AM  
Basicly it is the fault of all the nutjob environmentalists. Not everywhere on the planet is going to be 100% pure, there is going to be polution. We just have to make sure it is done in a responsible way that limits long term damage. Nature is very resiliant.
 
2005-06-15 08:26:17 AM  
China and India are rapidly industrializing. Remember seeing pictures of all those Chinese people riding bicycles? Well now they are driving cars. Supply < Demand

The only long term solutions are to drive less and to drive more efficient vehicles with better fuel sources, like bio-diesel.
 
2005-06-15 08:28:57 AM  
Swedish farker here. Well, I live in the US now, for the last 6 years. So no, I cant, cause my V-200 For F-3000 Superduty Hummer-converion is telling me I cant. Or something.
 
2005-06-15 08:33:27 AM  
You have 50 states with different standards for their fuel. Refineries have to make different fuels for nearly each state due to these stupid regulations and this, in addition to many more idiotic regulations, also drives up the price of fuel.

Plus, to many high-rollers in the U.S.A. that just don't care.
 
2005-06-15 08:36:36 AM  
NobleHam:

Tarkus, we know who's fixing the prices: OPEC. The problem is, there's not a damn thing we can do about it unless you want to go to war with the whole Arabian peninsula, Indonesia, and then some.


Bush has still got over 3 more years...give'em some time.

/all those brown folk are PROBABLY terrorists, right?
//plus they have delicious oil.
 
2005-06-15 08:36:42 AM  
I love to see people include Bush in their little "Oil Price" paranoia.

Oh yes, Bush is sitting there in his firelighted Oval Office, his horns silhouetted onto the wall, rubbing his hands, giggling over the speaker phone to Saudi Arabia, because it's obviously in Bush's interests to f*ck over his own people....christ.

To the Bush-afflicted paranoid: Do us all a favor and jam your head up your ass just a little more, hopefully enough to asphyxiate.
 
2005-06-15 08:44:09 AM  
hey, TheGoblinKing!

Before you go saying that environmentalists have prevented the construction of new nukes, answer me a trivia question:

How many proposed nuclear plants with applications before Nuclear Regulatory Commission (and the Atomic Energy Commission before that) have been denied building permits due to environmental concerns?

[cues "think music"]

Ready?

"What is ZERO?"

Because no proposed US nuclear plant, ever, has been denied a building permit, for *any reason*.

So, before you go blaming the lack of nuclear construction on "environmentalists", how about taking into account the obvious economic factors of construction expense, maintenence, and liability? I mean, you don't even have to think about waste issues for them to be non-money makers. Oh, yeah, decommissioning, there's another real point of added value for shareholders, huh?

I mean, show me a nuclear facility that is making a profit in the US. They are scarce as hen's teeth, if one exists. I don't know of a single one, off-hand.

/Why water jacket reactors when pebble reactors work so much more safely?
//Waste Vitrification - why not the standard?
///Money neds following.
////What's up with the slashie thingies?
 
2005-06-15 08:47:30 AM  
Peak oil, price fixing, evil oil buddies, hybrid, SUV, Bush. Discussion done?
 
2005-06-15 08:48:06 AM  
I'd like to see scales built into gas stations under the concrete slabs. The more your vehicle weighs, the more the gas costs! Stuff that in your Humvee and burn it!

NobleHam Tarkus, we know who's fixing the prices: OPEC. The problem is, there's not a damn thing we can do about it unless you want to go to war with the whole Arabian peninsula, Indonesia, and then some.

Not necessarily, we just need to find alternative fuel sources and better ways to use them. Yeah, that's very much easier said than done, but it will work. I think a combination of biofuels and TDP oil production could go a long, long way towards that goal.
=Smidge=
 
2005-06-15 08:56:39 AM  
Deucednuisance

That's because after 3 mile island the whole country got its panties in a bunch saying nuke plants are the end of the world. Heck I've asked people at work about this issue and they all seem to think that nuke plants are accidents made of styrofoam and duct tape waiting to happen. Newer smaller reactor designs are theoreticly more cost effective, but nobody wants to bother with the PR nightmare of building a nuke plant. Lots of companies have stock holders that are not the brightest bulbs in the box and would dump their stock at the first mention of such a plan.
 
2005-06-15 08:57:12 AM  
Smidge204:

I'd like to see scales built into gas stations under the concrete slabs. The more your vehicle weighs, the more the gas costs! Stuff that in your Humvee and burn it!


So if you are carpooling you have to pay more for gas than someone who isn't?
 
2005-06-15 08:59:58 AM  
Oh my God, Ron Corddry was right: the oil people actually DID get sick of money.
 
2005-06-15 09:00:25 AM  


Pfft...like many in Red State America would use one of these. Where's the gun rack?
 
2005-06-15 09:05:13 AM  
Oh crap, forgot "red state". Any more stupid cliches?
 
2005-06-15 09:15:20 AM  
This is the line that REALLY irks me:
"The Saudi minister said there was 'absolutely no shortage' on world crude markets, pointing to a deficit in refinery output of middle distillate products diesel, heating oil and jet fuel."

Basically, it is saying what I have been thinking and many others as well. The prices are artificially inflated by
A) Parnoia
B) Greed
C) Political manipulation or
D) All of the above
 
2005-06-15 09:17:53 AM  
ComicBookGuy

A bike is fine if you work under 5 miles from home BUT as latest surveys indicate, more and more people are working 30 or more miles from home in areas not supported by mass transit.

Avoid simplistic "Holier-than-thou" responses, please. It is annoying.
 
2005-06-15 09:19:43 AM  
After analyzing the most recent quarterly statements of the domestic U.S. oil industry, it is not only clear that profits have climbed to record levels, but that the major source of those profit increases is the jump in domestic refining and marketing margins, said Mark Cooper, director of research for the Consumer Federation of America. Well over half of that increase in profits has come not from crude oil, but from profits on domestic U.S. refining and marketing.

While the media and the Bush Administration blame OPEC, added Gene Kimmelman, senior policy director for Consumers Union, a close look at prices and profits shows that a large part of the problem is in domestic markets. As the Government Accountability Office recently concluded, mergers and the resulting concentrated markets have contributed to the problem.

Cooper said the analysis shows that profit margins on refining and marketing known as the domestic spread have set records for gasoline, heating oil and diesel fuel in the past nine months. Since domestic oil companies profit from U.S. production when prices rise, almost three-quarters of the price increases for oil products and 90 percent of the increase in natural gas wellhead prices have gone to domestic, not foreign oil firms.

Consumer's Union
 
2005-06-15 09:21:42 AM  
Uncoolest So if you are carpooling you have to pay more for gas than someone who isn't?

1) Have everyone get out of the car for a minute

or

2) Get gas before you pick everyone up

or

3) Have them walk, because if four to six people add up to over a ton's worth of extra weight they can probably use some exercise. Unless you're carpooling in a minibus (8+ people), in which case maybe you can spread the cost of fuel between everyone. (And options 1 and 2 would still apply)

The way I see it, fuel would be some base price plus some factor based on vehicle weight, in say 1000 pound increments to eliminate the effect passengers and a reasonable amount of cargo. Alternatively, provide a barcode scanner at the pump to read the information off of the registration sticker (which includes gross weight) and use the scale to verify you didn't scan in a sticker from a Hyundai to fill up your Escalade.
=Smidge=
 
2005-06-15 09:22:47 AM  
Price fixing is illegal in the states, but apparently not in the Middle East. They are eliminating any sort of competition that would result in more reasonable prices. Why people don't criticize this practice is beyond me.
 
2005-06-15 09:25:14 AM  
What a pity that America cant increase CAPS (average fuel economy) on cars built in Detroit.
That Bush pushes for more refineries, tax breaks for oil companies rather than addressing efficiency.
That the average car on the roads get less mpg than the original Model T Ford (25mpg vs circa 30mpg).
That most of the cars built in America dont meet China's fuel economy / emission standards (so preventing sale to the fastest growing World market).
That fuel has been so cheap that there's been no incentive for oil companies to build more refineries.
That fuel was so cheap that we got used to oil many times cheaper than in the 70's - and expected to be able to drive 6 litre trucks wherever we wanted to for what was very very little $.
That as the number of cars on the roads increase (in America, the World, and now China) that average fuel efficiency has decreased.
That demand is now 84 million barrels a day and has been exponential (President Carter noted that in the 60s the world used more oil than in every year previously put together. President Carter then noted that in the 70s the world used more oil than in every year previously put together).
2 weeks ago famous oil magnate T Boone Pickens says - "World supply and demand is currently 84 million barrels a day - I don't care what Saudi Arabia says World supply cannont ever be more than 84 million barrels a day".
Exxon, Shell and now governments are now acknowlodging a oil peak in the next 5 years - so, ask why oil companies want to build refineries and why Shell and BP are the biggest manufacturer of Solar Panels?
Then ask why in April the oil industry is worried about heating oil demand in the 4th Quarter.
Demand > Supply ... Or Demand > Oil refinery output. Either way we're farked it takes years to bring a oil refinery online. By then we're past the peak.
 
2005-06-15 09:28:20 AM  
zekebullseye,

This isn't really about "Price-Fixing" by the Opec nations but about price manipulation through futures speculation. Oil is a commodity that is traded like corn, wheat, etc. Based on "Projections" of capacity, regional stability, refining costs and consumer demand, traders bid for futures and their trading actions, many of which happen right here in the good old USA are what really drives oil pricing.
 
2005-06-15 09:31:12 AM  
Smidge204:

Alternatively, provide a barcode scanner at the pump to read the information off of the registration sticker (which includes gross weight) and use the scale to verify you didn't scan in a sticker from a Hyundai to fill up your Escalade.


Ok that one is actually doable, but what of the people that drive SUV's for legitimate reasons (and save gas by doing so)?
 
2005-06-15 09:36:44 AM  
Uncoolest: but what of the people that drive SUV's for legitimate reasons


Ever drive a BMW X5 with a V8? It is pretty legitimate.
 
2005-06-15 09:39:42 AM  
'Laserdragon

I don't understand politics. All I know is That I am delpoloyed in Kuwait. Kuwait is filthy rich on oil. These guys all have nice cars and none of them have to work on american military bases for anything. They're too rich. I've been here 6 months, and never seen a kuwaiti on base. They're all sri lankan or indian or something else. OPEC can act like they need the money, but I really wonder...'

50 buck a bbl will buy a lot of suicide bombers. And converting the world to Islam isn't cheap.
 
2005-06-15 09:46:43 AM  
2005-06-15 01:50:28 AM TheGoblinKing [TotalFark]

One more time for the folks in back, this will do little to nothing to help with gasoline prices as we haven't built any new refineries in forever to even keep up with our ever growing needs. The last time we built a new refinery was, what, the 80's?

Why no new capacity to produce something we need?

Yup....you guessed it. Environmentalists.

/same goes for nuke plants
//but at least the head of greenpeace is getting on board with nuke power


i have a feeling you'd be front of the line to fellate the enviromentalists if a refinery was going to be built in your neighbourhood. in fact, i believe you'd actually swallow for that to not happen, same goes for nuclear plants.
 
2005-06-15 09:48:32 AM  
BTW, Bush DOES have a direct interest in higher oil prices as, if you have payed any attention to anything, you would know his family and Cheney's family are both knee deep in oil and energy.

He is in a win/win position. He can push for more refineries and it will lead to more money for his interests in construction, tax abatements, federal subsidies and eventually profit on product or he can NOT push for more refineries and he gets the benefit of artificially inflated prices from the traders and speculators without ever having to spend a dime on increased production or capacity enhancements.

Yes, we live in a free market economy but, screw the customes long enough and they will find a way to rebel. Watch the housing market over the next two years... The banks are gonna start getting strapped with an asston of foreclosure properties because of weakened jobs market, over extended borrowers and ever increasing property prices. Even Greenspan can see that train wreck coming down the tracks.
 
2005-06-15 09:49:12 AM  
Let's have some math fun, shall we?

$50/barrel - 2% = $49

Gee, thanks guys.

I used to be all in favor of the US taking over the Middle East for its oil. Now I'm hoping for WalMart.
 
2005-06-15 09:51:38 AM  
$50 x 500,000 barrels = $25 million dollars a day, or $9.1 billion a year.

The House of Saud holds much of the huge surplus it has in US stocks and bonds, so think of this as two entire publicily traded companies being handed over.

And you can bet that they don't hold much GM or Ford...
 
2005-06-15 09:53:25 AM  
 
2005-06-15 09:55:28 AM  
Crosshair

Heck I've asked people at work about this issue and they all seem to think that nuke plants are accidents made of styrofoam and duct tape waiting to happen

Well, it's not quite that bad, but all the reactors in operation here in the US are based on 30-40 year old technology. Add to that the fact that most plants share little in the way of systems, parts, etc (in contrast to "modern" nuclear plants in other countries) and you can see why there isn't a lot of excitement about it. And that's to say nothing of the Yucca mountain controversy. Oil is so much nicer, the waste just "disappears" into thin air!!
 
2005-06-15 09:56:35 AM  
... but what of the people that drive SUV's for legitimate reasons (and save gas by doing so)?

Who gets to decide what's a legitimate reason to drive one vehicle over another? If we're ever going to get serious about reducing our dependence on Saudi oil we need to raise gas taxes. Hit people where it hurts (in the wallet) and they'll respond by demanding more fuel efficient vehicles. Once the demand is there, the auto makers will respond by building them. It should have been done back during the Clinton years when the economy was hot and oil was $15/bl because it wouldn't have hurt as much then. We're more dependent today than we would have been if politicians then had the testicular fortitude to deal with the issue rather than put it off.
 
2005-06-15 09:58:45 AM  
Well, I was trolling... :D

Seriously, though, I notice a farkLOAD of commuters are all on their lonesome when I'm on the Beltway. You'd think knowing that they're going this way EVERY WORKING DAY they'd carpool, no?

I must say, though, it does annoy me to see a lonesome soccor mom in her Lexus SUV (w/the yellow ribbon on the back, ofc) tooling along w/the A/C blazing.
 
2005-06-15 10:02:13 AM  
"must say, though, it does annoy me to see a lonesome soccor mom in her Lexus SUV (w/the yellow ribbon on the back, ofc) tooling along w/the A/C blazing."

Don't forget to mention the "W" sticker on the back as well.

:-)
 
2005-06-15 10:04:06 AM  
Gas prices, which had been falling, are going back up. Meanwhile, Toyota has 3 hybrids, Honda has 3, and all of Detroit has a grand total of one (not counting thier fake hybrid pickups that only use the electric motor to power accessories and not to actually move the vehicle). VW sells a wide variety of high MPG diesel cars as well. Even ignoring that, all of Toyota's standard gasoline cars (with base engines) get better than 30 MPG on the highway.
 
2005-06-15 10:12:02 AM  
PresidentPutz - Well, I'm in Montgomery County, MD. Rather liberal, but I still see those idiots.
 
2005-06-15 10:18:38 AM  
comicbookguy:
I thought the thought police shot you on sight for having a W sticker on your car in Montgomery county. ;)
 
2005-06-15 10:19:54 AM  
COMICBOOKGUY:
And one more thing, the gun rack is the seat wedge.
 
2005-06-15 10:20:08 AM  
Uncoolest

I'm not totally convinced there is a legit (read: fuel efficient) reason to drive an SUV. Any examples?
=Smidge=
 
2005-06-15 10:24:15 AM  
Dear Blue States-

Stop Driving your SUV's and we'll stop driving out pickups.

Love Red states

/The euros have it right with their sport wagons
//does not have a hemi
 
2005-06-15 10:24:39 AM  
Smidge204-Towing, offroading, that's about it. Most people who drive SUVs do so because they think they are safer, like sitting up high (but don't want a minivan), and think they are cool or whatever. I'm sure they will be really cool once gas prices hit five bucks a gallon.
 
2005-06-15 10:25:49 AM  
elendilmir - You know what the Thought Police in MC drive, right?? Volvo station wagons covered in Nader, ACLU, academic brag stickers, the "Bad Cop, No Donut" bumper sticker, etc.

With either the Garret or Takoma Park commemorative plates, ofc.
 
2005-06-15 10:32:33 AM  
Major Thomb:

 
Displayed 50 of 178 comments

First | « | 1 | 2 | 3 | 4 | » | Last | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report