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Thread: OIL..

  1. #521

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    Quote Originally Posted by redraspberry View Post
    Doesn't stop the disconnect between retail prices and supply though. Gasoline has gone up 25% this year.
    that's because those who master retail have no interest in competing. On the contrary have under the circumstances a vested interest in keeping the retailprices up...

    Golditiki2+++

  2. #522

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    $42.89 currently..
    x3

  3. #523

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    Oil's Latest Casualty: Saudi Binladin Group Fires 50,000, A Quarter Of Its Workforce

    http://www.zerohedge.com/news/2016-0...-its-workforce

    This means that Binladin, one of Saudi Arabia's biggest firms and among the Middle East's largest builders, whose total workforce is around 200,000 just fired a quarter of its total staff.

    Reuters adds, citing al-Watan's unnamed sources, that the group has terminated the contracts of 50,000 workers - apparently all foreigners - and given them permanent exit visa to leave the kingdom. However, the workers have refused to leave the country without getting paid as some had not received wages for more than four months. Furthermore, they were protesting in front of the Binladin's offices in the country almost daily, the paper added.

    What is most disturbing is that one of the biggest companies in Saudi Arabia if the not the Middle East, has had a series of pay disputes with workers this year as it appears unable to fund payroll. In March, scores of workers gathered outside one of the company's office in Saudi Arabia to demand unpaid wages.



    Migrant workers, who work for Saudi Binladin Group, gather as they
    ask for a final settlement over salary issue
    What's the Frequency, Kenneth?

    432Hz

  4. #524

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    In 2000, the U.S. imported 661 million barrels of oil from Canada, 503 million barrels from Mexico, and a combined 902 million barrels from Iraq, Saudi Arabia, and Kuwait.


    Here is 2005, which we note Iraq's decline after the U.S. decided to take over...


    In 2010, a notable decline in Mexico, Saudi Arabia, Iraq, and Kuwait occurs, while Canada becomes a much more significant source of oil.



    And here is 2015, in which the U.S. imports a whopping 1.37 billion barrels of oil from Canada, while Mexico provides 277 million (a 44.9% decrease from 2000 levels), and Iraq, Saudi Arabia, and Kuwait combine for just 544.9 million barrels, a 39.6% decrease from levels in 2000.



    http://www.zerohedge.com/news/2016-0...us-get-its-oil
    What's the Frequency, Kenneth?

    432Hz

  5. #525

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    $46.84 currently...
    x3

  6. #526

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    $45.19 today.. (at the moment) and dropping?
    x3

  7. #527

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    $45.12........................... currently.
    x3

  8. #528

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    $2.03 a gallon for E10 87 octane now.

    EIA projects rise in U.S. crude oil and other liquid fuels production beyond 2017

    Source: U.S. Energy Information Administration, Annual Energy Outlook 2016 Reference case

    The U.S. Energy Information Administration projects that U.S. petroleum and other liquid fuels production, which in addition to crude oil and condensate production includes natural gas plant liquids derived from natural gas processing as well as biofuels and volume gain at refineries, is projected to grow from 14.8 million barrels/day (b/d) in 2015 to 18.6 million b/d in 2040 in its Annual Energy Outlook 2016 (AEO2016) Reference case. Given the uncertainty inherent in making projections, AEO2016 also includes several alternative cases, based on different assumptions for world oil prices, macroeconomic growth, resource availability, technology improvement, and other factors. Differences in crude oil from tight formations (tight oil) and natural gas plant liquids (NGPL) account for most of the differences in production across these cases.
    Source: U.S. Energy Information Administration, Annual Energy Outlook 2016

    The oil price cases illustrate the effect of higher or lower global crude oil prices on U.S. production and use of petroleum. By 2030, the Brent crude oil spot price averages $49/b in the Low Oil Price case, $104/b in the Reference case, and $207/b in the High Oil Price case. In the High Oil Price case, increased energy efficiency, conservation, and fuel switching reduce projected consumption. The converse is true in the Low Oil Price case, where demand increases in response to low prices. In the High Oil Price case, the United States becomes a net exporter of petroleum and other liquid fuels by 2022.
    Source: U.S. Energy Information Administration, Annual Energy Outlook 2016

    In the resource and technology cases, the estimated ultimate recovery for shale gas, tight gas, and tight oil wells in the United States, undiscovered resources in Alaska, and the offshore Lower 48 states are 50% higher or 50% lower than in the Reference case. Rates of technological improvement that reduce costs and increase productivity in the United States are also 50% higher or 50% lower than in the Reference case. In the High Oil and Gas Resource and Technology case, the United States becomes a net exporter of petroleum and other liquid fuels by 2024.
    Source: U.S. Energy Information Administration, Annual Energy Outlook 2016

    Tight oil. In the Reference case, relatively low prices through 2017 have the greatest effect on tight oil production, which drops to 4.2 million b/d in 2017 before increasing to 7.1 million b/d in 2040. The increase in tight oil production is largely attributed to higher oil prices and the ongoing exploration and development programs that expand operator knowledge about producing reservoirs. Of all the crude oil and liquids types, tight oil changes the most across cases: in the High and Low Resource/Technology cases, tight oil production in 2040 ranges from 3.12 million b/d in the Low Resource/Technology case to 12.9 million b/d in the High Resource/Technology case.

    Natural gas plant liquids. Production of NGPL increases throughout the Reference case projection, from 3.3 million b/d in 2015 to 4.8 million b/d in 2025, and then more slowly through 2040, reaching 5.0 million b/d as growth in wet natural gas production slows. Future NGPL production depends on both domestic resources and the differential between crude oil prices and natural gas prices.

    Offshore and Alaska crude oil. Production in Alaska continues to decline through 2040, dropping to less than 0.2 million b/d in 2040. Offshore production is less sensitive to short-term price movements than onshore production.

    Biofuels. Supply from renewable sources grows slowly throughout the projection, and is less sensitive to price assumptions, remaining at about 1 million b/d throughout the projection across the oil price cases.

    Other liquid fuels. Neither gas-to-liquids nor coal-to-liquids contribute to domestic production in most of the AEO2016 cases because of the risks associated with their high capital costs, long construction lead times, and the likelihood they will not remain price-competitive with crude oil over facility lifetimes. However, both become economic in the High Oil Price case after 2020, combining to add 1.1 million b/d to domestic liquid fuel supply by 2040.
    What's the Frequency, Kenneth?

    432Hz

  9. #529

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    $44.55 gas $2.12 today..... Still Dropping!!!!!!
    x3

  10. #530
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    Sep 2012
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    7,257

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    Quote Originally Posted by silverone View Post
    $44.55 gas $2.12 today..... Still Dropping!!!!!!
    Remember the days of everyone saying under a Dollar per gallon gas was our God given Right as Americans (Probably back in the 90's yet I forget) ......
    Then again, those were the last days of actual Prosperity and how the once mighty have fallen since .......
    So yea, we'll take it (not like we're in a position to demand anything anymore) $2 gas .......
    Trade off of course being all the other hidden taxes literal and cryptic everything else has attached to it today opposed that not being the case some years back.

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