Saudi Arabia to Release 200,000 gallons of oil a day

[loganb_football]

Seems as though Saudi Arabia has come around and will be releasing 200,000 gallons of oil a day. There reasoning is to prevent people to resort to other forms of energy. This all starts in July, just prey that the fuel company will not go on strike in Nigeria on June 18th and fuel prices should come down considerably I believe!

People can still perhaps keep their SUV's!

 

[confuzed_guy2000]

Sorry, just a drop in the bucket... Besides, China will probably buy it anyways

 

[loganb_football]

You might be right, but I am counting on a ripple effect. Hopefully OPEC will continue to up there output as well. They really have no choice, Honda has already invented a hydrogen car.

 

[loganb_football]

Id also like to point out a website for people who are tired of congress blaming each other for our oil situation.

http://www.americansolutions.com/actioncenter/petitions/?Guid=54ec6e43-75a8-445b-aa7b-346a1e096659

This petition is to try and get congress to stop arguing and start being productive about the oil crisis, and to start drilling!

 

[-OC-]

This petition is to try and get congress to stop arguing and start being productive about the oil crisis, and to start drilling!

Well they've know about this reserve since 1951, maybe it's time to drill here:

http://www.nypost.com/seven/05292008/business/montana_governor_is_sitting_on_an_oil_mi_113005.htm

http://www.nypost.com/seven/06082008/postopinion/opedcolumnists/oil__look_to_montana_114455.htm

I've seen estimates on this field that dwarfs the reserves in Saudi Arabia (Some estimates by 2 times!), but think for a minute, do them Texas boys REALLY want oil coming out of Montana soil worth $16.00 a barrel? How they going to "Justify" ripping us off then? More "Supply and demand" BS they have people mesmerized with? Sorry it aint going to work with a domestic source of oil.

Oh and quit listening to them nut jobs over at Fox News, we only get about a quarter of our oil from the mid east. And like it or not, we need to act less "Entitled", the Saudis have the right to ask WHATEVER they want for it, and we have the right to tell em what to do with their price, right? Either stick it, or buy it.

 

[Basstart]

Sorry, just a drop in the bucket... Besides, China will probably buy it anyways

Spot on.

Also, the answer doesn't lie in drilling more oil, it lies in alternative power sources. Its 2008, kinda hard to believe with all of mankinds accomplishments so far advanced countries still rely on oil to make the world go round. Maybe spending less money on space exploration and more on developing alternative fuels would be good.

 

[Got Juice]

I believe its 200,000 extra barrles per day, which still isn't shit considering we consume roughly 20,000,000 barrles daily in the US alone. I think that's about 1%, lol. Look for gas prices to remain around the 4$ mark, in the mean time Saudi should bank about an extra billion in July from the upped production!

 

[PHIL HERNON]

WELL

ALL THIS SHIT DOESNT MATTER BECAUSE WITH CHINA AND INDIA GROWING AS FAST AS THEY ARE AND POLLUTING THE ATMOSPHERE WITH 20-30 NEW COAL FACTORIES OPENING UP NEXT YEAR AND LAUGHING AT US WE WILL ALL DIE OF LUNG CANCER ANYWAY.........NO MATTER WHAT THE PRICE OF GAS IS.

 

[Force245]

AIN"T GONNA HELP

A release of oil is not the solution. Drilling is not the solution. Let's take time to think of this. Most of you rememer from school the law of supply and demand, right. Well there is a very high demand and whether you believe it or not, there is a shit load of supply, there fore WTF. Ah here come the light, ready?

There has not been a new refinery built since 1976. HHHMMM the bottle neck in out problem. I wish I could find the number of cars on the road back then and compare with today, but you get the idea. There is a SHIT LOAD MORE CARS and demand today than in 1976 and NO NEW FORMS OF MIDDLE MAN SUPPLY. Don't get mad at the companies for raking in the money, It is congress that has made it that way. The way of big business.

Instead of petitioning for more drilling, NOT NEEDED, petition for more refineries. Knock out the middle man bottle neck.

Oh yeah, I work at a refinery and what the fuck is up.

 

[rotty]

You might be right, but I am counting on a ripple effect. Hopefully OPEC will continue to up there output as well. They really have no choice, Honda has already invented a hydrogen car.

BMW came out with a hydrogen car last year or the year before.

 

[hiddenbelow]

Everything we use pretty much everyday consist of oil not just our cars....

You guys are bitching about paying 4 dollars a gallon for gas but in 30 years when we start paying off our debt to china via oil that they need to produce products to sell to our country to keep their economy going. Maybe even to the point of having them in debt to us.

You can afford to pay 4 dollars a gallon so who gives a damn. If you can;t afford it quit eating out so much learn to cook more meals at home. Maybe plant a garden in your yard. Quit smoking your 4 dollar a pack cigs or your 3 dollar can of skoal.....

There is a plan behind what we are doing with the oil now. Its not all about the oil companies making money. Its better for you to think that so the world does not see the big picture as well. There is more to it, much more. Economics is deeper than 2 piles of shit.

Similar to this point why don't we fear china about going to war??? Cause we rely on them too much and they rely on us to much economically.

Why are we scared of Iran??? We have no ties with them economically they are self sufficient. That is the country we fear the country who can stand without us. That is the country who is willing to attack.

 

[confuzed_guy2000]

There is a plan behind what we are doing with the oil now. Its not all about the oil companies making money. Its better for you to think that so the world does not see the big picture as well. There is more to it, much more.

Kewl, I'm glad somebody here actually understands this. This could be for a variety of reasons, as you mention - it's not just about some damn ay-rabs (no offense to anyone). There is a reason: Could be new technology emerging to get your vehicle to see 100+ mpg, could be to drive the price up so the USA will actually start bring up it's own reserves to sell to China (we have enough oil to keep ourselves fat and happy for 200 years - so they say), or it could be to take the sting out of the crazy price increases if we go to war with Iran. Who really knows what the puppet masters are up to?

Why are we scared of Iran??? We have no ties with them economically they are self sufficient. That is the country we fear the country who can stand without us. That is the country who is willing to attack.

We leave them alone 'cause China and Russia told us to keep our hands off. Not reported too much in the western news... Wonder why?

 

[buselmo]

Well they've know about this reserve since 1951, maybe it's time to drill here:

http://www.nypost.com/seven/05292008/business/montana_governor_is_sitting_on_an_oil_mi_113005.htm

http://www.nypost.com/seven/06082008/postopinion/opedcolumnists/oil__look_to_montana_114455.htm

I've seen estimates on this field that dwarfs the reserves in Saudi Arabia (Some estimates by 2 times!), but think for a minute, do them Texas boys REALLY want oil coming out of Montana soil worth $16.00 a barrel? How they going to "Justify" ripping us off then? More "Supply and demand" BS they have people mesmerized with? Sorry it aint going to work with a domestic source of oil.

Oh and quit listening to them nut jobs over at Fox News, we only get about a quarter of our oil from the mid east. And like it or not, we need to act less "Entitled", the Saudis have the right to ask WHATEVER they want for it, and we have the right to tell em what to do with their price, right? Either stick it, or buy it.

do you know what goes into developing an oil field like that if it existed? I can't go into any detail about any findings or things like that from the place i work in (and i think you know which company i'm talking about), because frankly, i don't want to get fucking fired if anyone falls upon something like this. anyway, let's take an imaginary field for example... you do seismic and drill wild cats (cost you a couple of 100 of millions of dollars jsut for that), and the geologists and petrophysicists estimate an average porosity of 20%
and an average permeability of 60 md... with recoverable reserves of 3 billion barrels... everyone's happy (the fat cats at least... we don't smell a dime of that shit)... you drill more wells... you find out that there are faults all over the place... tight formations... high water cut... sand production... reservoir pressure shoots down from 3500 psi to 1200 psi in a year... so, you decide to develop the field even more and drill horizontal wells, multi lateral wells, and if you have gas, you drill extended reach wells... shit will cost you billions of dollars, and in the end, you figure out after 2 years of spending tens of billions of dollars that your recoverable reserves that were thought to be in billions, are actually less than 10 million (recoverable... the field might have more than 10 billion barrels, but you can only recover like 10 million or so)... in the end, you abandond the field and call it a loss.
do you know how many times that happened around here?
Other than that, you have to spend billions of dollars tying in wells to the GOSPs and plants... then you have to expand those plants... then you have to expand the refinery... you don't make a decision like that in 1 or 2 years... sometimes they start the idea 20 years ahead of it's time... then after 20 years, they start developing the field. it's not that simple.
Also, do you know the shortage in drilling rigs these days? I can tell you that a rediculous amount of rigs are drilling here right now... we want more, but the world doesn't have any!!!
It's very complicated... really...




Further more... please, when you describe someone getting rich from oil in saudi arabia, don't say saudis... we aint seeing a dime from that shit... and we're suffering from all the inflation going on in the world.

whoever mentioned china is on the right track... we have a deal with you guys... and china is trying to buy you out

 

[confuzed_guy2000]

we have a deal with you guys...

BINGO!!!! But in reality your deal was struck with Kissinger and the World Bank, not really the USA (even though it was made to look that way).

You sell your oil in dollar$ and you pledged to buy back a certain amount of the US Debt... Again, sounds good for the US but in reality, this deal is simply maintaining a lie. Oh well, whatever happens, happens... I always like you Saudis anyways

 

[-OC-]

do you know what goes into developing an oil field like that if it existed? I can't go into any detail about any findings or things like that from the place i work in (and i think you know which company i'm talking about), because frankly, i don't want to get fucking fired if anyone falls upon something like this. anyway, let's take an imaginary field for example... you do seismic and drill wild cats (cost you a couple of 100 of millions of dollars jsut for that), and the geologists and petrophysicists estimate an average porosity of 20%
and an average permeability of 60 md... with recoverable reserves of 3 billion barrels... everyone's happy (the fat cats at least... we don't smell a dime of that shit)... you drill more wells... you find out that there are faults all over the place... tight formations... high water cut... sand production... reservoir pressure shoots down from 3500 psi to 1200 psi in a year... so, you decide to develop the field even more and drill horizontal wells, multi lateral wells, and if you have gas, you drill extended reach wells... shit will cost you billions of dollars, and in the end, you figure out after 2 years of spending tens of billions of dollars that your recoverable reserves that were thought to be in billions, are actually less than 10 million (recoverable... the field might have more than 10 billion barrels, but you can only recover like 10 million or so)... in the end, you abandond the field and call it a loss.
do you know how many times that happened around here?
Other than that, you have to spend billions of dollars tying in wells to the GOSPs and plants... then you have to expand those plants... then you have to expand the refinery... you don't make a decision like that in 1 or 2 years... sometimes they start the idea 20 years ahead of it's time... then after 20 years, they start developing the field. it's not that simple.
Also, do you know the shortage in drilling rigs these days? I can tell you that a rediculous amount of rigs are drilling here right now... we want more, but the world doesn't have any!!!
It's very complicated... really... ;

Lol, well there's always the best solution, starting tomorrow 1 child per family for the next 100 years. And before anyone starts flaming at that logic, I know that is a total unrealistic fantasy. But buselmo, I think I mentioned it was discovered in 1951. And it seems we have tons of money to engage in illegal preemptive wars and all kinds of various other wastes. It would be ideal for the big corps to be looking, in earnest, meaning devoting billions over years, and not the fractions we see toward "Alternate Energy and Fuels", but are they doing all they can? One can only hope.

Further more... please, when you describe someone getting rich from oil in saudi arabia, don't say saudis... we aint seeing a dime from that shit... and we're suffering from all the inflation going on in the world. ;

Well I said "Saudis" as a blanket term. I know it's the "usual", it's the few at the top holding the loves, and the people under that are catching the crumbs (if any) from those loves. And if you live there, I am sorry; you should have it very good.

 

[Basstart]

Everything we use pretty much everyday consist of oil not just our cars....

You guys are bitching about paying 4 dollars a gallon for gas but in 30 years when we start paying off our debt to china via oil that they need to produce products to sell to our country to keep their economy going. Maybe even to the point of having them in debt to us.

You can afford to pay 4 dollars a gallon so who gives a damn. If you can;t afford it quit eating out so much learn to cook more meals at home. Maybe plant a garden in your yard. Quit smoking your 4 dollar a pack cigs or your 3 dollar can of skoal.....

There is a plan behind what we are doing with the oil now. Its not all about the oil companies making money. Its better for you to think that so the world does not see the big picture as well. There is more to it, much more. Economics is deeper than 2 piles of shit.

Similar to this point why don't we fear china about going to war??? Cause we rely on them too much and they rely on us to much economically.

Why are we scared of Iran??? We have no ties with them economically they are self sufficient. That is the country we fear the country who can stand without us. That is the country who is willing to attack.

I think your looking to much into this - I highly doubt there is a conspiracy going on! As has been said in this thread, its a simple supply and demand issue. China and India are now demanding a shitload more oil and there is not enough coming out of the ground so the price gets bid up.

 

[muscledoc1]

ALL THIS SHIT DOESNT MATTER BECAUSE WITH CHINA AND INDIA GROWING AS FAST AS THEY ARE AND POLLUTING THE ATMOSPHERE WITH 20-30 NEW COAL FACTORIES OPENING UP NEXT YEAR AND LAUGHING AT US WE WILL ALL DIE OF LUNG CANCER ANYWAY.........NO MATTER WHAT THE PRICE OF GAS IS.

SAD BUT TRUE.

 

[kjreid]

A release of oil is not the solution. Drilling is not the solution. Let's take time to think of this. Most of you rememer from school the law of supply and demand, right. Well there is a very high demand and whether you believe it or not, there is a shit load of supply, there fore WTF. Ah here come the light, ready?

There has not been a new refinery built since 1976. HHHMMM the bottle neck in out problem. I wish I could find the number of cars on the road back then and compare with today, but you get the idea. There is a SHIT LOAD MORE CARS and demand today than in 1976 and NO NEW FORMS OF MIDDLE MAN SUPPLY. Don't get mad at the companies for raking in the money, It is congress that has made it that way. The way of big business.

Instead of petitioning for more drilling, NOT NEEDED, petition for more refineries. Knock out the middle man bottle neck.

Oh yeah, I work at a refinery and what the fuck is up.

Hasn't the enviromentalist made it nearly impossible to build a new refinery? Hasn't a company been trying to build a new refiinery for the past 15 years but has not even broken ground because of the enviromental studies took ten years to complete and the company has been in litagation for the previous 5 years against 17 enviromental groups that are trying to stop the refinery from being built? I did a paper on this about 3 years ago and I will try and find the sources. But what I concluded was there is no feasible way to built refinerys with the strict enviromental rules and laws that are in effect for all enery sites, this all came into play during the WPPSS plants in Washington state in the late 70's.

 

[Wynn]

I read in yesterday's NY Post that one used Prius was bought for more than the price for a new one. I guess the guy didn't want to wait on the waiting list for one. The Saudis may be concerned that the demand for their oil will fall but the new drive for alternative energy is in part their fault.


http://seekingalpha.com/article/812...akes-economic-sense-to-buy-one?source=d_email

 

[thebrick]

Seems as though Saudi Arabia has come around and will be releasing 200,000 gallons of oil a day. There reasoning is to prevent people to resort to other forms of energy. This all starts in July, just prey that the fuel company will not go on strike in Nigeria on June 18th and fuel prices should come down considerably I believe!

People can still perhaps keep their SUV's!

The Saudis just increased their oil production by 300,000 barrels per day in early May and the markets didn't even blink.