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A nice little petrol story.....

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Comments

  • #32
    Colmustard
    Closed Accounts Posts: 1,836 ✭✭✭Colmustard


    Defiler Of The Coffin wrote: »
    Hopefully you're right, but will there be enough oil there to justify the investment needed? As long as there are no ecological disasters like the Gulf then it can't do any harm, might be just the shot in the arm that Cork needs.

    Its a big field estimates are its over a billion barrels and it is light crude which is even better again as it is cheaper to pump out and process. If the government play their card right it could make Cork a very wealthy county. I also hope there is no disaster, but that is all we can is hope. I think the lessons have been learned from the gulf oil disaster fiasco.

    Also if there is one field it means there are others.
    Deleted User wrote: »
    Supply isn't keeping up with demand either, hence the stubbonly high prices!

    True, the second the oil hits the surface it is demanded, the far east keep demanding more and it is rumoured that the jeddah saudi fields are running dry.

    But if it was peak oil the price would be about a tenner a litre so not yet. There still are new fields been discovered.


  • #33
    donegal_road
    Closed Accounts Posts: 1,281 ✭✭✭donegal_road


    Rockefeller, prohibition and ethanol run engines
    Most people are not aware that Henry Ford's Model T came in a variation
    that allowed the driver to switch the carburetor to run the engine on
    farm-made ethyl alcohol. This allowed the operator to stop at local farms
    (equipped with stills) to refuel his/her car during long trips through the
    backcountry. The Standard Oil Company and its
    industrialist-founder John D. Rockefeller wasn't too happy with this
    arrangement. After all, Rockefeller's company had a virtual monopoly on
    gasoline at this time in our nation's development.

    Since the late 1800's there had been a growing Alcohol Temperance Movement developing among reformers. Rockefeller saw an opportunity in this. It is well-documented that local efforts to curb alcohol consumption were
    expanded to the national level when high-profile figures like Rockefeller
    joined in the anti-alcohol efforts. Was he so concerned with the social
    problems that abuse of alcohol was said to cause?

    No... John D. Rockefeller was not concerned with family dynamics in the
    working classes. But he was influential in changing the goals of the
    movement from temperance to prohibition. He gave the equivalent of $60
    million in today's dollars to an obscure group pushing for prohibition
    called the Women's Christian Temperance Union. As we know, his
    contribution to the outlawing of the production and sale of alcohol was
    successful. Of course, Rockefeller and the oil companies reaped tremendous
    profits as a result. Remember that the period covered by the 18th
    Amendment (1919-1933) coincided with the huge rise in the sale and
    operation of automobiles. America was on the move, and all of these cars
    were now operated solely on gasoline. By the time that the 21st Amendment
    was passed, ending the prohibition of alcohol, the standard was already
    set and worked completely in the favor of the Rockefeller family.


  • #34
    Jev/N
    Registered Users, Registered Users 2 Posts: 3,456 ✭✭✭Jev/N


    Another cogent and well-informed view, yay! :)


  • #35
    My name is URL
    Registered Users, Registered Users 2 Posts: 25,626 ✭✭✭✭My name is URL


    drdeadlift wrote: »
    Wages are ALOT higher in Norway.

    But fuel costs aren't dictated by average wage levels, it may play some small indirect role in determining the cost but if you look at other countries with higher average wages than Ireland you'll notice that they also have far lower fuel costs, and likewise many countries with a lower average wage have higher petrol costs, so it's clear that one is not necessarily based on the other.

    The OP seems to think that if Ireland retains public ownership of its reserves, that fuel costs will naturally fall. The opposite is in fact more likely to happen as the state would need to increase tax in order to maintain and put to use the resources.


  • #36
    Colmustard
    Closed Accounts Posts: 1,836 ✭✭✭Colmustard


    donegal_road wrote: »
    Rockefeller, prohibition and ethanol run engines

    That is a daft solution, we will be facing serious food inflation next year as it is.

    As more land is turned over to ethanol that compounds the problem.

    They are experimenting with bacterial diesel I think that maybe the future.

    Batteries and hydrogen cell are non runners. Lithium and other battery chemicals are also a relatively rare commodity. If they start using these commodities in a billion cars, there would be non left soon.


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  • #37
    tricky D
    Closed Accounts Posts: 9,698 ✭✭✭tricky D


    Defiler Of The Coffin wrote: »
    As long as there are no ecological disasters like the Gulf then it can't do any harm, might be just the shot in the arm that Cork needs.
    Colmustard wrote: »
    If the government play their card right it could make Cork a very wealthy county.

    Very unlikely. The oil is the wrong type for the Whiddy Island Refinery and will likely go to Rotterdam for that. Also, the platform is currently serviced from Liverpool for infrastructure reasons and that is unlikely to change much.


  • #38
    Colmustard
    Closed Accounts Posts: 1,836 ✭✭✭Colmustard


    tricky D wrote: »
    Very unlikely. The oil is the wrong type for the Whiddy Island Refinery and will likely go to Rotterdam for that. Also, the platform is currently serviced from Liverpool for infrastructure reasons and that is unlikely to change much.

    I was just hoping, they could build a suitable refinery and insist they use it for some of the production, also there are other industries that could build up because of our new oil industry.

    It will be worth pursuing that, it will also be good PR for the oil company.


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