PDA

View Full Version : Herman Cain and the Perfect Storm of 2012



Rockntractor
10-04-2011, 11:36 PM
By James Lewis


In 2012 the world will see a perfect storm. This is one of those few times in history when a year of crisis is predictable.

Short-term outlook: big ups and downs.

Long-term outlook: much better.

Why?
http://www.americanthinker.com/2011/10/herman_cain_and_the_perfect_storm_of_2012.html
Go to link to read story, too many embedded links to bring over.

Starbuck
10-05-2011, 10:53 AM
3. Saudis prepare for the end of the oil cartel. OPEC's demise can be predicted from huge shale discoveries around the world from Poland to Montana. No oil spigot, no cartel. If the ecomaniacs manage to hobble U.S. shale development, we'll get it from Poland and Canada. Not even the most radical ecofanatics can stop this development around the world. Just think what China will do. The result: no Hugo Chávez with Venezuelan oil, and a steep loss of income for Gulf Arabs. They might even stop all that hate propaganda against the Wicked West. In 2012 the markets will predict lower energy prices without strategic bottlenecks like the Persian Gulf.
Woweeee....Oil prices are now having trouble at 80$ and a lot of the Arab oil can not be pumped and delivered for that. Iran sits at around 75$, I think, but that's from memory.....

Dunno what it costs to get shale oil up...:confused:

Novaheart
10-05-2011, 11:14 AM
Woweeee....Oil prices are now having trouble at 80$ and a lot of the Arab oil can not be pumped and delivered for that. Iran sits at around 75$, I think, but that's from memory.....

Dunno what it costs to get shale oil up...:confused:

Perhaps one of our experts will give us some facts on this. I read an article a long time ago that said that the actual COST of pumping new oil by an Australian company in the Black Sea (Russia) was $5, yes you read that right. Now, I'm sure that the oil can't be pumped and delivered for that price, but it goes to the "fungibility" thing.

Source EIA 2006 (taken from an internet site, zero confidence)

In 2006, average production costs (or lifting costs - the cost to bring a barrel of oil to the surface) ranged from

about $4 per barrel (excluding taxes) in Africa
to about $8.30 per barrel in Canada;
the average for the U.S. was $6.83/barrel (an increase of 23% over the $5.56/barrel cost in 2005).

Besides the direct costs associated with removing the oil from the ground, substantial costs are incurred to explore for and develop oil fields (called finding costs), and these also vary substantially by region. Averaged over 2004, 2005 and 2006, finding costs ranged from about $5.26/barrel in the Middle East1 to $63.71/barrel for U.S. offshore. While technological advances in finding and producing oil have made it possible to bring oil to the surface from more and more remote reservoirs at ever increasing depths, such as in the deepwater Gulf of Mexico, the total finding and lifting costs have increased sharply in recent years.

fettpett
10-05-2011, 11:57 AM
there is enough shale oil in NA to provide our energy needs for 200+ years

Starbuck
10-05-2011, 01:02 PM
Here's a pretty good article (2008) concerning the costs of pumping oil. It shows Saudi Arabian oil at 4 - 5 dollars and shale at about 52-113$.
For right now, those 80$ production costs are sucking air....:)


Oilfields Estimated Production
/source Costs ($ 2008)
Mideast/N.Africa oilfields 6 - 28
Other conventional oilfields 6 - 39
CO2 enhanced oil recovery 30 - 80
Deep/ultra-deep-water oilfields 32 - 65
Enhanced oil recovery 32 - 82
Arctic oilfields 32 - 100
Heavy oil/bitumen 32 - 68
Oil shales 52 - 113
Gas to liquids 38 - 113
Coal to liquids 60 - 113
http://www.reuters.com/article/2009/07/28/oil-cost-factbox-idUSLS12407420090728

Novaheart
10-05-2011, 01:28 PM
there is enough shale oil in NA to provide our energy needs for 200+ years

Plus the coal and natural gas, The Empire is sound is it not my lord?

Novaheart
10-05-2011, 01:31 PM
Here's a pretty good article (2008) concerning the costs of pumping oil. It shows Saudi Arabian oil at 4 - 5 dollars and shale at about 52-113$.
For right now, those 80$ production costs are sucking air....:)


http://www.reuters.com/article/2009/07/28/oil-cost-factbox-idUSLS12407420090728

I'll be honest. Exxon's profits make me angry. Not because they make a profit, but because they made a fortune while gouging us and because they apparently feel like they are entitled to make a certain cut regardless of costs and considerations while the rest of us cut our essential spending to pay for $4/gal gasoline.

But I can live with gasoline at current prices. When gas went to $4 I traded in my big truck on a little truck, I bought a bicycle and a motor scooter. But I can't handle the prospect of $8 a gal gasoline and Exxon would love to charge that. That's why I am always wishing Rex Tillerson and Jamie Dimon a stay in hell.

linda22003
10-05-2011, 01:43 PM
Nova, perhaps you should become an Exxon shareholder. You'll feel better about the money they make, because you'll be sharing in it.

fettpett
10-05-2011, 05:17 PM
I'll be honest. Exxon's profits make me angry. Not because they make a profit, but because they made a fortune while gouging us and because they apparently feel like they are entitled to make a certain cut regardless of costs and considerations while the rest of us cut our essential spending to pay for $4/gal gasoline.

But I can live with gasoline at current prices. When gas went to $4 I traded in my big truck on a little truck, I bought a bicycle and a motor scooter. But I can't handle the prospect of $8 a gal gasoline and Exxon would love to charge that. That's why I am always wishing Rex Tillerson and Jamie Dimon a stay in hell.

does Exxon set the per/barrel oil prices? no, the futures market does

lacarnut
10-05-2011, 05:40 PM
does Exxon set the per/barrel oil prices? no, the futures market does

Facts do not mean anything to a liberal. The FEDS cut on the oil companies (profit wise) is around 2 to 3 times more in excise taxes. That does not take into account billions in lease payments, corporate taxes and withholding taxes. The gouging is being done by goverments around the world with their high taxes..

Nova is about as dumb conversing about the oil industry as he is about the miltary. Plus J. Dimon is a banker not an oil exec. He can not even get that right.

fettpett
10-05-2011, 05:42 PM
I think about 5/8th of the price at the pump is taxes...rest is split between the store and the oil companies.

the volatility of the futures market is one reason why i think it should be taken off it, but just IMHO on that

Novaheart
10-05-2011, 05:53 PM
does Exxon set the per/barrel oil prices? no, the futures market does

You say that like there is some magical force. You don't think that Exxon and Chase have a hand in the futures trading?

Hawkgirl
10-05-2011, 06:06 PM
You say that like there is some magical force. You don't think that Exxon and Chase have a hand in the futures trading?

Are you accusing them of insider trading? There are ways to make your point, you're not credible when you start making stuff up.


Besides, the real bread winner is the Government...by taxing the crap out of the industry..and US.

lacarnut
10-05-2011, 06:10 PM
Nova, perhaps you should become an Exxon shareholder. You'll feel better about the money they make, because you'll be sharing in it.

You have not gotten the word? Liberals have this hatred of oil companies and think oil is evil.

Almost forgot about this caller on the Dave R. show that wanted investment advise because she had inherited many shares of evil Exxon stock and wanted to get rid of it. That is how messed up in the head liberals are.

lacarnut
10-05-2011, 06:23 PM
You say that like there is some magical force. You don't think that Exxon and Chase have a hand in the futures trading?

Wrong. In Exxon's case, you must be confusing futures with derivatives. I would explain it to you but the meaning would get lost in the translation

fettpett
10-05-2011, 08:07 PM
You say that like there is some magical force. You don't think that Exxon and Chase have a hand in the futures trading?

um...no they don't, they are barred from insider trading just like any other company on the stock market.

SaintLouieWoman
10-05-2011, 09:02 PM
I think about 5/8th of the price at the pump is taxes...rest is split between the store and the oil companies.

the volatility of the futures market is one reason why i think it should be taken off it, but just IMHO on that

The gas prices are markedly different in Tampa, Sarasota and Ft Myers. The libs in Sarasota (all those damned Yankees are moving here upsetting the ratio of Dems to Republicans) have our taxes high. If we drive to Tampa the prices are quite lower. They are a LOT lower in Ft Myers. But it's not worth driving 50-60 miles to get a cheaper price, so we're stuck. The difference is the taxes charged. :mad:

Meshuga Mikey
10-05-2011, 09:11 PM
there is enough shale oil in NA to provide our energy needs for 200+ years

we have more natural gas than they have oil!

lacarnut
10-05-2011, 09:54 PM
we have more natural gas than they have oil!
True. If we had used the billions or trillions on natural gas infastructure rather than green energy, we could tell the Arabs to eat their oil and we would be well on our way to energy independence.