Huge oil discovery enough to kill green energy for another decade.

Who controls oil prices anyway??

Is it OPEC, well they trim production if the price falls too much.
Is it Oil companies, not really, the costs involved in refining and transportation are fairly constant - relatively speaking, exploration is the only cost that's rising.
Is it government taxation, This has the largest impact on the end user!
Is it oil brokers/investors/speculators, Last years spike in oil prices can largely be blamed on speculators who pulled their money out of stocks and shares and bought oil jacking up the price then selling for a huge profit!

Who is going to "put a floor on prices" or cap prices.

KevinH

Deleted User wrote: »

Last years spike in oil prices can largely be blamed on speculators who pulled their money out of stocks and shares and bought oil jacking up the price then selling for a huge profit!

What evidence do you have for that ?

KevinH

KevinH wrote: »

What evidence do you have for that ?

I don't have it to hand..

When prices jumped, there was no collapse in supply, no jump in demand and no major military action going on in any oil producing areas.

But the stock markets had just crashed, banks had failed, investors were running scared.

KevinH

Deleted User wrote: »

I don't have it to hand..

When prices jumped, there was no collapse in supply, no jump in demand and no major military action going on in any oil producing areas.

But the stock markets had just crashed, banks had failed, investors were running scared.

Prices had been rising consistently for years.
The rate of increase just started to increase in 2008. I believe the market was starting to price oil more realistically.

The run-up in oil price was one of the main causes of the financial crisis, and the price crashed when the financial crisis hit and demand crashed.

squod

I'm gonna discontinue my conversations on the green issuse threads.
Spread disinformation all you want, I don't see this thread advancing any green causes. Its obviously a sham.

djpbarry

squod wrote: »

Spread disinformation all you want, I don't see this thread advancing any green causes.

An opinion that differs from yours is not "misinformation". Please refrain from referring to it as such.

Húrin

zod wrote: »

When there's cheap oil, it will be next to impossible to do anything with green energy.

That's a pity because without cheap oil, hardly anyone will be able to build the required amount of renewable energy capacity without breaking the bank.

zod wrote: »

The Tar sands are an environmental disaster

Indeed. That's why they're so famous to us.

Bee

Húrin wrote: »

That's a pity because without cheap oil, hardly anyone will be able to build the required amount of renewable energy capacity without breaking the bank.



Indeed. That's why they're so famous to us.

The strongest indicator of the myth of peak oil is that BP et-al have pulled back from their major investments in re-newables.

Too many vast quantites of exploitable oil finds have been discovered recently for them to keep the sham going of oil running out.

ECo nuts shouting about "Peak Oil" allowed the oil price to increase significantly and phenomenal profits to be made in the last 2 years (yes I made a lot of money in shares as well)

Old style capitalist oil companies did well to exploit the major tax concessions for investing in so call renewables by well meaing eco nuts who they ran rings around by increasing their captial value in their own industries increasingly down to the Eco nuts shouting about "PeaK Oil"

I always think its a litle sad how the Green movemnt are so dumb that they can't see how; though they may be well meaning; have allowed the tax payer be screwed, as they do in Ireland with the likes of Eamonn Ryan subsidising Irish re-newables (though it does nothing for either the enviornment or climate change) but of course they never really check where their political masters invest their money I suppose

http://news.bbc.co.uk/2/hi/business/8266200.stm

The head of oil giant Total has told the BBC the world could face a shortage of oil because of underinvestment.
Chief executive Christophe de Margerie warned that too little has been spent trying to tap into new oil reserves because of the economic crisis.
"If we don't move [now] there will be a problem," Mr de Margerie said. "In two or three years it will be too late."
He also said he thought oil prices would rise to more than $100 a barrel, from their current level of around $70

KevinH

Bee wrote: »

The strongest indicator of the myth of peak oil is that BP et-al have pulled back from their major investments in re-newables.

Too many vast quantites of exploitable oil finds have been discovered recently for them to keep the sham going of oil running out.

ECo nuts shouting about "Peak Oil" allowed the oil price to increase significantly and phenomenal profits to be made in the last 2 years (yes I made a lot of money in shares as well)

Old style capitalist oil companies did well to exploit the major tax concessions for investing in so call renewables by well meaing eco nuts who they ran rings around by increasing their captial value in their own industries increasingly down to the Eco nuts shouting about "PeaK Oil"

I always think its a litle sad how the Green movemnt are so dumb that they can't see how; though they may be well meaning; have allowed the tax payer be screwed, as they do in Ireland with the likes of Eamonn Ryan subsidising Irish re-newables (though it does nothing for either the enviornment or climate change) but of course they never really check where their political masters invest their money I suppose

I get the impression from this post that you do not understand what peak oil is ..... it has nothing to do with the amount of oil in the ground.

P.S. What vast quantities of oil finds have we had recently ?

Bee

KevinH wrote: »

I get the impression from this post that you do not understand what peak oil is ..... it has nothing to do with the amount of oil in the ground.

P.S. What vast quantities of oil finds have we had recently ?

A small sample here

http://www.guardian.co.uk/business/2009/sep/02/bp-oil-find-gulf-of-mexico

"Giant oil find by BP reopens debate about oil supplies Discovery could be as large as Forties field in North Sea and comes hard on heels of 8.8bn barrel find by Iran"

One of the issues with many recent finds is not how large, but how difficult it is to extract!

The oil companies may have to consume the equalivilant in oil of more than half the field's extractable reserves to get the first drop out! Just look at the amount of infrastructure that some of these remote fields need!

Capt'n Midnight

Deleted User wrote: »

One of the issues with many recent finds is not how large, but how difficult it is to extract!

Take for example the Alberta tar /oil sands. HUGE resevoir of hydrocarbons TWICE the size of know oil reserves. The only problem is that it is not very economic in either the $ sense or the % of fuel you can recover.

As the price of oil goes up then the tar sands will become more economically viable. But there comes a point where the energy / resources you use to recover the fuel are worth more than the fuel , and as long as there aren't any funny tax exemptions then the oil sands should be a valuable source for plastics and pharamaceuticals for a long time to come. Bio Ethanol from Corn is one example of a fuel where the energy inputs don't really justify it as worth doing. One German study found that Bio Diesel was also energy neutral as it took a litre of fossil fuel to get a litre of bio-fuel , it was economic because farm fuel had zero tax and bio fuel had a subsidy.

Well to wheel efficiency is dropping since the amount of energy need to extract fossil fuels is constantly increasing.