World Faces Oil `Supply Crunch' After 2010, IEA Says

[jimmyzshack]

sense it seams that if you mention a electric car people see to think you shot their dog and are taking their job. this is the msm sugar coated story.

http://www.bloomberg.com/apps/news?pid=20601087&sid=av7.YNnejfag&refer=home

 

[thatwhichisnt]

Peak oil is a major myth, brought onto us by oil suppliers to keep supply down.

We will however have a supply shock when we have a war with Iran.

 

[jimmyzshack]

that is like saying US producers decided to import oil instead and drop US production in half.

"We" better have control of the Strait of Hormuz before the war with Iran.
http://www.eia.doe.gov/cabs/World_Oil_Transit_Chokepoints/Background.html

 

[thatwhichisnt]

that is like saying US producers decided to import oil instead and drop US production in half.

"We" better have control of the Strait of Hormuz before the war with Iran.
http://www.eia.doe.gov/cabs/World_Oil_Transit_Chokepoints/Background.html

Wont matter when OPEC wont send us any more oil.

 

[MALIBU12]

Last Updated: July 9, 2007 14:47 EDT >>OLD NEWS <<

 

[jimmyzshack]

nic avatar

 

[shoalsfugro]

One additional problem is aging refineries and lack of new development due to regulations.

Oil refining in the United States
In the 1800s, refineries in the U.S. processed crude oil primarily to recover the kerosene. There was no market for the more volatile fraction, including gasoline, which was considered waste and was often dumped directly into the nearest river. The invention of the automobile shifted the demand to gasoline and diesel, which remain the primary refined products today. Refineries pre-dating the US Environmental Protection Agency (EPA) were not subject to any environmental protection regulations.[citation needed] Today, national and state legislation requires refineries to meet stringent air and water cleanliness standards. In fact, oil companies in the U.S. perceive obtaining a permit to build a modern refinery to be so difficult and costly that no new refineries have been built (though many have been expanded) in the U.S. since 1976. Some[who?] attribute increasing dependence in the U.S. on imports of finished gasoline, to lack of new refineries. On the other hand, more than half the refineries that existed in 1981 are now closed due to low utilization rates and accelerating mergers.[18] As a result of these closures, total US refinery capacity fell between 1981 to 1995.


http://en.wikipedia.org/wiki/Oil_refinery

Or is this true

http://www.citizen.org/cmep/energy_enviro_nuclear/electricity/Oil_and_Gas/articles.cfm?ID=11829

Myth 3: The United States has maxed out its oil refining capability.

Fact: Oil companies have exploited their strong market position to intentionally restrict refining capacity by driving smaller, independent refiners out of business. A congressional investigation uncovered internal memos written by the major oil companies operating in the U.S. discussing their successful strategies to maximize profits by forcing independent refineries out of business, resulting in tighter refinery capacity. From 1995-2002, 97% of the more than 920,000 barrels of oil per day of capacity that have been shut down were owned and operated by smaller, independent refiners. Were this capacity to be in operation today, refiners could use it to better meet today’s reformulated gasoline blend needs.

Profit margins for oil refiners have been at record highs. In 1999, for every gallon of gasoline refined from crude oil, U.S. oil refiners made a profit of 22.8 cents. By 2004, the profits jumped 80% to 40.8 cents per gallon of gasoline refined. Between 2001 and mid-2005, the combined profits for the biggest five refiners was $228 billion.

 

[Geardo]

Wont matter when OPEC wont send us any more oil.

Kill them all, and take the oil!

 

[CloudStrife]

We are sitting on plenty of oil right here in our own country.

 

[jimdana1942]

I knew the end was getting closer.

 

[Hardballing]

One additional problem is aging refineries and lack of new development due to regulations.

Oil refining in the United States
In the 1800s, refineries in the U.S. processed crude oil primarily to recover the kerosene. There was no market for the more volatile fraction, including gasoline, which was considered waste and was often dumped directly into the nearest river. The invention of the automobile shifted the demand to gasoline and diesel, which remain the primary refined products today. Refineries pre-dating the US Environmental Protection Agency (EPA) were not subject to any environmental protection regulations.[citation needed] Today, national and state legislation requires refineries to meet stringent air and water cleanliness standards. In fact, oil companies in the U.S. perceive obtaining a permit to build a modern refinery to be so difficult and costly that no new refineries have been built (though many have been expanded) in the U.S. since 1976. Some[who?] attribute increasing dependence in the U.S. on imports of finished gasoline, to lack of new refineries. On the other hand, more than half the refineries that existed in 1981 are now closed due to low utilization rates and accelerating mergers.[18] As a result of these closures, total US refinery capacity fell between 1981 to 1995.


http://en.wikipedia.org/wiki/Oil_refinery

Or is this true

http://www.citizen.org/cmep/energy_enviro_nuclear/electricity/Oil_and_Gas/articles.cfm?ID=11829

Myth 3: The United States has maxed out its oil refining capability.

Fact: Oil companies have exploited their strong market position to intentionally restrict refining capacity by driving smaller, independent refiners out of business. A congressional investigation uncovered internal memos written by the major oil companies operating in the U.S. discussing their successful strategies to maximize profits by forcing independent refineries out of business, resulting in tighter refinery capacity. From 1995-2002, 97% of the more than 920,000 barrels of oil per day of capacity that have been shut down were owned and operated by smaller, independent refiners. Were this capacity to be in operation today, refiners could use it to better meet today’s reformulated gasoline blend needs.

Profit margins for oil refiners have been at record highs. In 1999, for every gallon of gasoline refined from crude oil, U.S. oil refiners made a profit of 22.8 cents. By 2004, the profits jumped 80% to 40.8 cents per gallon of gasoline refined. Between 2001 and mid-2005, the combined profits for the biggest five refiners was $228 billion.

From the link above at citizen.org, this is an advocacy group site and as such their numbers are suspect. HIGHLY suspect.

While the number 228 billion sounds high, when divided by 4 years and 5 refiners, the number drops dramatically (11.4 billion). Classic strawman math so to speak. And the figure of "profit" of .40+ per gallon is lunacy. They make NOWHERE near that per gallon. Not even the .22.8 is correct IIRC. Much closer to .05-.08 per gallon. The higher figures are taken from oil company balance sheets as gross, not net. So the term "profit" does not apply.

As a second way to look at this data, the oil companies at least produce something. Uncle Sam, state and local govs take between (depending on state) .25-.45 per gallon, and those entities produce NOTHING. My figures are based partly on memory just to be fair here but they are REAL close to actual numbers as taken from Dept of Energy website.

What was that old line about lies, damn lies, and statistics? True enough me thinks.

 

[Hardballing]

We are sitting on plenty of oil right here in our own country.

Ding, Ding, Ding, Ding....

WINNER!

 

[jimmyzshack]

READ THIS FIRST: in no way am i saying we shouldn't drill. i believe we should be drilling everywhere and CA should be cut off till they start drilling. i don't feel like listen to the bs yesterday.

Now that still doesn't mean we can ever produce the amount of oil we need/use daily that is the problem and we have to keep sending money to the middle east but at least oil is still traded in dollars.

Here is a good read http://www.gao.gov/new.items/d07283.pdf

 

[jimmyzshack]

talking about drinking the koolaid, ted turner "time to say goodbye to coal and oil" on cnn right now.