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OPEC cuts oilproduction!

  • Thread starter Thread starter Dizel8
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Dizel8

Douglas metal
Joined
Feb 27, 2003
Posts
2,817
"VIENNA, Austria - OPEC (news - web sites) agreed Wednesday to follow through on an earlier pledge to cut its oil production target by 4 percent starting in April despite recent high prices of crude, several oil ministers said."

Oil is trading near all time highs, OPEC stated goal was to stabilize oil prices between 22-28 dollars a barrel, lately it has been trading around 38-39 dollars a barrel. Hopefully, the spring will see decreasing prices due to lower demand, but the effect of cuts in production, could mean prices stay high.

This could potentially hinder a further recovery of the US economy and will certainly increase our trade deficit.
 
Good!!! More money for Dubyas big oil cronies. Its all Kerrys fault anyway, didn't you see the ad? He wanted to raise fuel taxes in the ninetys. I have to go now, call my local Humvee dealer and put my order in.

God help us all if Bush is reelected.
 
You're obviously well versed in politics if you can blame anything and everything on a president. :rolleyes:

*News Flash* this isn't a monarchy or dictatorship
 
"Good!!! More money for Dubyas big oil cronies. Its all Kerrys fault anyway, didn't you see the ad? He wanted to raise fuel taxes in the ninetys. I have to go now, call my local Humvee dealer and put my order in.

God help us all if Bush is reelected."



WTF? You're not serious are you? I forgot. Bush and his buddies control OPEC. LOL. I'm glad you only have one vote.

:confused: :confused: :confused: :confused: :confused: :eek:
 
If Bush wants to take the credit for all the small upticks, he has to be held accountable for the bad stuff too. No, a president does not control everything, but I believe this situation displays the administations lack of diplomacy skill.
 
<smacks own forehead>

labbats said:
You're obviously well versed in politics if you can blame anything and everything on a president. :rolleyes:

*News Flash* this isn't a monarchy or dictatorship

This is *exactly* true and I'm going to save this quote for the next right-winger that tries to blame bad weather on Bill Clinton.
 
I thought fugghedabowdit was being sarcastic, but I guess not... Anyways, I hope we aren't all driving 80 mph golf carts in 20 years...
 
How the he*ll would Bush's cronies get more money, u moron. OPEC is a foreign cartel, the saudis and everyone else get the money. Of course some doemstic oil service companies will see increased stock prices, but that would have the horrifiying effect of increasing American wealth! OH NO! People's 401k might go up!!! Jr.'s college fund, sorry that will go up too--THE HORROR!But of course, if we were allowed to drill in the vast siberian-like fields of alaska, while only impacting a plot of land the size of LAX, we wouldn't have to worry about it.
But i guess that its Bush's fault too that the freaking democratic morons in congress care more about SOUNDING like they care about the enviroment, than actually helping things here in AMERICA.
We could have enough oil to help us through this if we were drilling right now. But because some democratic PARTISAN congressmen and women screwed us out of it so they could look like they were protecting us from ourselves, we're screwed.

PS... If Bush worked at Dell would you start bashing him every time the government bought Dell computers? Or prices on computers as a sector went up? "There goes Bush with his Evil-Dell kickbacks!"
Why do you hate the American Oil companies anyway? The computer you are using right now is being powered by Petroleum energy, the composites used to build it all came from oil, the car u drive etc etc etc....
 
Although, I just hope Bush "leans" on OPEC and ask them a few pointed questions!
 
Let's be honest about the "footprint"

urflyingme?! said:
But of course, if we were allowed to drill in the vast siberian-like fields of alaska, while only impacting a plot of land the size of LAX, we wouldn't have to worry about it.

Take it from someone who earns his paycheck on the North Slope: The "footprint" is much larger than LAX--maybe not in absolute terms--but look at it like this: The pipeline network on the Slope is like a spider's body.

Prudhoe Bay is like the body and the various oil fields and pipelines are like its legs. Because one oil pad and its associated pipeline doesn't consume much territory the pro-drilling folks like to declare "minimal footprint." But the *network* of oil fields spans a region the size of North Dakota.

There is an impact. And I'm not saying drill it or not. I'm just saying let's be honest about the impact.

The North Slope may not be Yosemite or The Grand Tetons but it has a certain value and deserves to be discussed without the taint of political rhetoric.
 
It will be interesting to see if the cartel can stick together on this one. With prices as high as they are, there is an enormous incentive for any given member to cheat, pump more oil, and reap huge profits. This has been a problem in the past with the cartel. Similarly when prices are low and OPEC agrees on cutbacks, some countries have a hard time cutting production which further erodes their already weak revenues due to low prices.
I wouldn't be surprised at all if prices don't end up rising too much from this "cutback" due to cheating by some of the members which is discovered months later.
 
Let's hear it for honesty....

...it's so rare these days.

Mar is right, the "footprint the size of LAX" is so inaccurate that is can only be characterized as wilfully dishonest.

Here's an analogy: suppose you had a nice half acre house lot (21,780 sq ft). a local business approached you to lease 100 sq feet for advertising. you think, no problem, a 10 foot by 10 foot square on which they can put up a sign, I can live with that. When you come home, you discover they have taken 100, 1 ft X 1 ft. squares scattered all across your yard and erected a lighted sign on each one. Oh yeah, and the power lines are strung between each one of them forming a network of signs and wires across your entire lot ... suddenly the 100 sq ft doesn't seem quite so unobtrusive does it?

Do the same with the "footprint the size of LAX". Break it up into parcels a couple hundred feet on a side. You'll get quite a few from a "footprint the size of LAX". Now start scattering them across the landscape, spaced about a half mile apart or so. hook em all up with pipelines ... Now how big is the oil field?


The "other side" isn't any better. Thier propaganda is illustrated with photos from the Arctic alpine portion of ANWR, a hauntingly beautiful landscape, in my opinion. All but the lowest of cretins would cringe to imagine drilling rigs in those photos. The thing is, the drilling isn't going to take place there, it's going to take place in the coastal plain, a flat, mosquito ridden, swampy flatland. In the winter, you can't tell where the land ends and the ocean begins. It's not nearly as photogenic as the Canning River valley, so they don't show photos of it. Yes, I've been there, on the ground, swatting the mosquitoes and wading through the swamps. It's not real pretty.

So who ya gonna believe? Like mar, I haven't made up my mind one way of the other. The trouble is, how do you decide. Neither side can be trusted to be honest. How much oil is there? the "pro's" have one number, the "anti's" have another. Both sides are dishonest, who do you believe? What is it really going to do to the Porcupine Caribou herd? The pro's say nothing, the anti's say it will annhilate it. Both sides are dishonest, who do you believe?


That's the trouble with so many debates, not just the ANWR debate. It becomes virtually impossible to penetrate the multiple layers of lies upon lies.


as for urflyingme?!, I'll give you the benefit of the doubt and assume that you're just repeating the "footprint the sixe of LAX" lie because, out of ignorance, you allowed yourself to be duped, not because you, yourself, are being wilfully dishonest.

Here's some guideline for sharpening your powers of discrimination. Consider how dishonest you *know* the "anti's" to be. Reflect on how they rely on lies, distortions and misrepresentations to serve thier cause. Got it? OK, now, realize that the "pros" are every bit as dishonest as the antis. You can't trust either to give you accurate information.

You said, regarding OPEC and ANWR "we wouldn't have to worry about it. " OK what does that mean? Sounds to me like more meaningless rehetoric. Tell you what, here's a way you can redeem yourself. Quantify "we wouldn't have to worry about it. " Do some research. Gather the various estimates of the oil underneath ANWR Get the numbers form the Sierra Club, get the numbers form the Oil Comapny PR departments, get the numbers from the US Department of energy, Get the numbers from the US Department of Energy 10 years ago (same raw data, different political agenda, trust no-one) Now take all those various estimates and compare them to our oil consumption numbers. Find out just how long and to what degree the oil under ANWR will reduce our dependence on OPEC oil. Post those numbers, complete with the raw data and sources and references.

What's it really going to do, best case scenario, worst case scenario. Based on who's estimates? How much will it reduce our dependence on foreign oil? 1%? 5%? 30%? 70%?. For how long? 6 months? 3 years? 20 years? for perpetuity?

If it was going to reduce our dependence on foreign oil by 70% for 50 years, I'd be more than happy to have them drill there. If it was 1% for 6 months, I'd lean toward just leaving it alone.

So which is it? You dig those numbers out and present them in a credible, verifiable format, I'll tip my hat to you..... or, you can just rely on meaningless rehetoric like "we wouldn't have to worry about it" The choice is yours.


Note: I really haven't made up my mind which side I'm on. I have fairly strong feelings both ways, but have not yet chosen. I am however thouroughly disgusted by the lies and rhetoric which both sides are continually spouting.
 
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It's all Clinton's fault.
 
Yea!...what goggles said....!!
 
Drilling...

C'mon guys,

You think that even if we were allowed to drill in Alaska that the oil would EVER even sniff the USA?

Look at what happened when the U.S. Strategic Oil Reserves were opened a few years back. Did it lower prices at the pump? Marginally - but as to where the actual oil went? Yup, that's right - _it went overseas._
 
Its time our govt get serious about alternative fuels like Hydrogen for vehicles. We cant be held hostage by the middle east like this forever!
 
Ahhhhh, hydrogen, the wonder fuel......

burns cleanly, no bad combustion products, and you can make it out of water. Sounds perfect doesn't it.

Here's the rub: You don't get any more energy out of burning it, than you use up by making it out of water. Can't do it, not possible. No more possible than getting more energy out of letting a rock roll downhill than it took to roll it up the hill. There is no free lunch. In theory you would get *exactly* the same amount of energy from combining hydrogen with oxygen to make water, as you would use up splitting water molecules apart to get hydrogen and oxygen. In reality, both process will never be 100% efficient, so there will always be a net energy loss in producing hydrogen and using it. If you need X amount of energy to drive your hydrogen powered car from a to b, it will take X amount of energy in electricity, plus the process loss to produce that hydrogen. That electrical energy has to come from someplace. Currently our options for producing that energy are burning fossil fuels, hydroelectricity, or nuclear power all of which have drawbacks and environmental implications.

If you have to burn a gallon of dead dinasaurs to make the electricity to run the electrolysis to make enough hydrogen to run your hydrocar 40 miles, how is that beter than a car which just burns a gallon of dead dinasaurs to go 40 miles? You've still burned a gallon of petroleum, with the same amount of sulphurdioxide, carbon monoxide, carbondioxide, and various incompletely burned hydrocarbons.

That's not to say there is no advantage hydrogen. It would provide a medium to store and transport energy which would allow us to utilize non-fossil fuel energy, like nucear or hydro power to propel cars. Sort of like a battery, a lot like a battery, in fact. But, like a battery, you can't get more energy out of it than you put into it, and that energy has to come from somewhere.
 
Yup, more hydrogen vehicles! Bring back the Hindenburg at Lakehurst , NJ. But let's add to that, about 50 million 'leaking' hydrogen fueled, four wheeled hydrogen fuel cell vehicles parked in our tuck under garages, or in ordinary fender benders that just 'explode' and blow up on the corner of Hollywood and Vine. By the way, do most of you know...... that it requires "energy" to produce hydrogen? Ya can't just snatch it out of the air! If safety isn't your concern, this idea is not going to save you money. Not until gasoline is WAY more expensive than it is now.
 
THe technology is available and we just cant coming back to fossil fuels. Car manufacturers already have hydrogen, electric etc cars that are being made. Maybe they arent a 66 Mustang, but neither was the Model T when it came out. My point is, we need to put in the effort, and work through difficulities, or we will always be chained to the middleeast.
 

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