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RWGR
11-20-2015, 08:33 AM
The alarmist, Chicken Littles were wrong, again



The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned.

“The world is floating in oil, and commercial stocks on land are at a record high,” said David Hufton, head of oil brokers PVM Group.


http://www.telegraph.co.uk/finance/oilprices/12006554/Goldman-eyes-20-oil-as-glut-overwhelms-storage-sites.html

Barry Morris
11-20-2015, 09:54 AM
Soon run out of oil?? Whoever said that??

RWGR
11-20-2015, 09:59 AM
http://consumerenergyalliance.org/wasnt-the-world-supposed-to-have-run-out-of-oil-by-now/

The world was running out of oil; it would only be a matter of time before the price spikes to $200 per barrel or beyond, and industrial economies would come grinding to a halt. Instead, oil is at $50 and it's so damn abundant that we're at the point now where there's not even any place to put it.

http://realmoney.thestreet.com/articles/04/24/2015/dont-listen-fear-mongers



The Father Of Global Warming Said America Would Run Out Of Oil By 1946

https://stevengoddard.wordpress.com/2015/02/19/the-father-of-global-warming-said-america-would-run-out-of-oil-by-1946/

riggs
11-20-2015, 10:08 AM
The alarmist, Chicken Littles were wrong, again



The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned.

“The world is floating in oil, and commercial stocks on land are at a record high,” said David Hufton, head of oil brokers PVM Group.


http://www.telegraph.co.uk/finance/oilprices/12006554/Goldman-eyes-20-oil-as-glut-overwhelms-storage-sites.html

I'm disappointed in you RW. I thought you were the supreme capitalist. The cost of building more storage facilities will drive the prices up?.....lol

RWGR
11-20-2015, 10:11 AM
Pffft...I'm all for cheap oil!

riggs
11-20-2015, 10:15 AM
I here ya brother. I'm riding that train till sunset.

Barney Rubble
11-20-2015, 11:08 AM
i was under the impression that we had too much oil....the Americans crazy stockpiling by over fracing & this was one of the major reasons for the declining price per barrel

BTW...we need oil to be ~$80 a barrel for it to be profitable for the big boys here in Alberta to consider future projects

no future projects means no jobs
this $40 a barrel is killing the patch out here & thus 2ndary industry
If cheap oil is good...how come it hasn't been realized at the pump? I'm still paying the same as what it was when it was $100 a barrel

JMO

RWGR
11-20-2015, 11:10 AM
Stupid Americans, going for foregin oil non-dependency

Barney Rubble
11-20-2015, 11:14 AM
NOPE...just over "stockpiling" ...not to mention the possible dangers of fracing


i think Canada should be non foreign dependant as well......we should have more refineries & i do support a trans mountain or trans canada pipeline instead of keystone

again...JMO

RWGR
11-20-2015, 11:16 AM
fraCKing, Barney

You'd think a caveman would know how to spell it, especially one that works in a quarry! :)

Barney Rubble
11-20-2015, 11:19 AM
Well..".Barnett Shale-based blogger and activist Sharon Wilson recently set out to track down the founder of “fracking.” Wilson eventually fingered Lisa Sumi as the originator of the K-based spelling. In 2004, Sumi joined Earthworks’ Oil and Gas Accountability Project. She took on a research report about the then-relatively unrenowned method for extracting oil and natural gas.

The documents she read about hydraulic fracturing shortened the term to “fracing.”

“In my own head, I immediately started spelling it with a K,” she said. “It rhymed with cracking. For me it was purely grammatical.”"

"http://fuelfix.com/blog/2011/12/23/is-it-fracking-or-fracing/"

now...i just win :)

RWGR
11-20-2015, 11:20 AM
Should have known better than to argue with Mr. Slate's top employee

https://i.ytimg.com/vi/cf7Ie6PMZJk/maxresdefault.jpg

Barney Rubble
11-20-2015, 11:22 AM
that...sir...was an old pic...i've since evolved as all cavemen do....to that handsome hunter-gatherer that i am today

RWGR
11-20-2015, 11:26 AM
You're practically George Jetson now

Barry Morris
11-20-2015, 12:31 PM
"The Father Of Global Warming Said America Would Run Out Of Oil By 1946"

Imagine that!!

Who would have thought that continued and increasing oil exploration would have found more in 70 years!!!

Barney Rubble
11-20-2015, 12:48 PM
BUT...is it good to be taking so much , if not all, the oil of the ground?

I don't have the answer but i wonder...is it not like taking all the needed fluid out between the joints in the body? Does the earth need this fluid to sustain stability? Does draining all the oil increase the possibility of more earthquakes?
There are studies to link "fracKing" with earthquakes!
I don't know? I'm just a caveman!

RWGR
11-20-2015, 12:59 PM
"The Father Of Global Warming Said America Would Run Out Of Oil By 1946"

Imagine that!!

Who would have thought that continued and increasing oil exploration would have found more in 70 years!!!

I know, you alarmists are truly a bizarre group!

Barry Morris
11-20-2015, 05:45 PM
I know, you alarmists are truly a bizarre group!

I wish I knew how that related.

Oh well.

RWGR
11-20-2015, 06:04 PM
If the context of the message was lost, I know the love associated was not. :)

Hans
11-20-2015, 07:39 PM
i was under the impression that we had too much oil....the Americans crazy stockpiling by over fracing & this was one of the major reasons for the declining price per barrel

BTW...we need oil to be ~$80 a barrel for it to be profitable for the big boys here in Alberta to consider future projects

no future projects means no jobs
this $40 a barrel is killing the patch out here & thus 2ndary industry
If cheap oil is good...how come it hasn't been realized at the pump? I'm still paying the same as what it was when it was $100 a barrel

JMO

Well, ask yourself how long it took for those reserves to fill up to such high levels?
The real issue of the current crisis is the speculators driving up the oil price for no real reason, since there is plenty of it on the market.
They created an artificial supply and demand chain, so they could manipulate the prices and drive them up at will to very high levels.

Does it sound familiar to something that happened some years ago in the housing market?
As usual, they will manage to escape accountability while everyone else will suffer for it.
And that is the true problem of capitalism: it has become a free for all with no rules anymore.
It is on an end course of destruction, mark my words.

Anapeg
11-20-2015, 09:09 PM
The "shortages" of the 70's or 80's or whenever was true. We ran out of the 45 cent oil but there is lots of the $3.00 oil, no shortage of that $hi#.

Hans
11-20-2015, 09:24 PM
The "shortages" of the 70's or 80's or whenever was true. We ran out of the 45 cent oil but there is lots of the $3.00 oil, no shortage of that $hi#.

http://www.macrotrends.net/1369/crude-oil-price-history-chart

What is interesting about that graph?

Anapeg
11-21-2015, 08:07 AM
http://www.macrotrends.net/1369/crude-oil-price-history-chart

What is interesting about that graph?

Not a clue Hans, enlighten me.

Hans
11-21-2015, 03:19 PM
- The oil crisis in the mid seventies: oil price instantly shot up, like you would expect during a crisis.

- From 200 to 2007 the price gradually went up, for no apparent reason.
- Crash in 2007: instantly drops down, like you would expect after a crash.
- 2008 to 2014 the price gradually increased (again), for no apparent reason.
- 2014 to current: instantly dropped, like you would expect after a crash.

What is the best way of making lots of money? Pick a product that is required, control all supply and demand, pump the price up. You be a billionaire in no time.

Barry Morris
11-21-2015, 05:52 PM
- The oil crisis in the mid seventies: oil price instantly shot up, like you would expect during a crisis.

- From 200 to 2007 the price gradually went up, for no apparent reason.
- Crash in 2007: instantly drops down, like you would expect after a crash.
- 2008 to 2014 the price gradually increased (again), for no apparent reason.
- 2014 to current: instantly dropped, like you would expect after a crash.

What is the best way of making lots of money? Pick a product that is required, control all supply and demand, pump the price up. You be a billionaire in no time.

You nailed it!!!

rez
11-28-2015, 01:55 PM
The alarmist, Chicken Littles were wrong, again



The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned.

“The world is floating in oil, and commercial stocks on land are at a record high,” said David Hufton, head of oil brokers PVM Group.


http://www.telegraph.co.uk/finance/oilprices/12006554/Goldman-eyes-20-oil-as-glut-overwhelms-storage-sites.html

The price will plunge but not because of storage issues.

Tenaris will probably shut down this summer for at least 5 years or longer and may not even come back online under tenaris.

The real reason why oil is plummeting is actually 2 reasons. First, the world economy is heading into a depression and the oil industry is the first sector being hit.

The other reason oil is plummeting is because saudi arabia refuses to cut supply and Iran is now producing 500,000 barrels a day, and in a few months time they will be producing 1 million a day... Iran is somewhat of the nail in the coffin because until recently, they never produced any meaningful amounts of oil to affect the markets.. Now, they are about to plunge oil prices down to probably 25/barrel because the Saudi's refuse to cut supply and Iran is just coming into the market and will take 20/barrel they don't care..

The article you linked is propaganda to give consumers of main stream media an answer for what is happening.. But I guarantee the prices falling have nothing to do with storage issues and everything to do with Iran and high unemployment across the globe.

Another reason the oil prices are being affected is because the petro dollar is about to vanish as the worlds reserve currency, which will cause 3rd world depressions across north America and Europe. Our 2 countries have already written banker bail in laws making it legal for the banks to seize normal users accounts/funds in the event of an economic collapse. The seized funds will be used to sustain government operations during the coming collapse of society lead by the oil sector collapsing.

When economies start to collapse, bankers like to start world wars to spur on industry and kill off a majority of the population to more manageable levels. We will see ww3 by spring, in fact, it has already been well under way since the u.s tried to overthrow syria by funding isis.. Now russia is there with china and its about to get real ugly, real fast..

We will probably also see china go to open war with the u.s. My theory behind this is the TPP deal, which is our governments trying to setup an pan-asiatic slave wage labour sectors to keep producing our cheaply made consumables since we will effectively be at war with China..

Hans
11-28-2015, 02:54 PM
Tenaris will not shut down this summer for 5 years or more, just want to clear that up.
There is a very specific reason why they own and operate this mill.

IMHO
11-28-2015, 03:44 PM
We will run out of time on this earth before we ever run out of oil...IMHO

rez
11-28-2015, 05:38 PM
Tenaris will not shut down this summer for 5 years or more, just want to clear that up.
There is a very specific reason why they own and operate this mill.

Well first off, you don't know what is gonna happen anymore than I do.. But given the fact I have been actively analyzing the worlds oil industry and specifically the sanctions being lifted on Iran.. I can safely assume the North American fracking boom is dead and done which was the only reason for Tenaris buying Algoma in the first place.

There is a specific reason they own the mill yes, and it is to dump mexican made pipe in Alberta, Canada. The seamless pipe coming out of Algoma is only 5-10% of what Tenaris sells in Canada. I.E it is mandated by Canadian law they have to have a presence in Canada to sell pipe here, but they don't have to run that mill, they just need the presence of the office staff and perhaps a drop yard like what has happened in calgary with prudential.. It is simply a pipe storage now with an off site office/white collar presence. The same thing will happen in Algoma, and I assume you work in Tenaris and are just wishful in thinking you have any kind of future.. You don't.

They won't need Algoma when bay city is 100% online producing seamless pipe.. I assume that is the reason you think Algoma won't shut down because its specialized seamless? They didn't pour 1.5 billion into a new bay city mill for fun, which makes Algoma look like a tick on an elephants butt in size/scope and capabilities.. It was so they could close prudential/Algoma and perhaps, if we're lucky, retain the office staff.. But 100% of those office jobs can be outsourced and have already begun to be outsourced to mexico.

With the fracking boom dead and dying, I see no future for Algoma/Tenaris tubes.. Unless they start making gun barrels for tanks and warships.. But then again, the seamless specialty won't be an issue in that scenario.

Sorry Hans, but it is wishful thinking if you believe you will be employed at Tenaris past summer... Considering you don't understand whats happening on a global scale regarding the oil industry., but don't worry, you own cio's and ceo don't seem to have much of a clue about whats going on globally either.. At least the information coming out of those town halls would indicate as much..

Hans
11-28-2015, 06:02 PM
Actually, no,

Ask yourself why they purchased this mill to begin with.
And it is not mandated by law they have a presence here. Otherwise they would be the only seamless pipe seller in Canada, since this is the only seamless pipe mill operational in Canada.
Again, ask yourself why they purchased this back in 2000.

IMHO
11-28-2015, 08:06 PM
The doomers and gloomers have had the local steel mill shutting its doors MANY TIMES over the years.. It is still here...not as important as it once was and likely to decline even more. The times they are a changing and the Soo economy needs to diversify in a hurry.