PDA

View Full Version : Int'l Issues China buying up more of world's oil & gas supply


T-post Tom
03-15-2010, 02:18 AM
Chinese oil firm buying 50% stake in Argentine group


China National Offshore Oil Corporation (CNOOC) is paying $3.1bn (2bn) for a 50% stake in Argentine oil and gas group Bridas Corporation.

CNOOC president Yang Hua said Bridas was "a very good beachhead for us to enter Latin America".

Bridas has proven oil reserves of 636 million barrels, with production activities across Argentina, Bolivia and Chile.

China's demand for oil is continuing to surge as its economy grows strongly.

The International Energy Agency (IEA) recently said that China's demand for oil jumped 28% in January compared with the same month a year ago, growth the IEA described as "astonishing".

Bridas holds a 40% stake in oil business Pan American Energy, which is 60% owned by UK group BP.

CNOOC, China's biggest offshore oil explorer, hopes to complete its purchase of a 50% stake in Bridas by the middle of this year.


http://news.bbc.co.uk/2/hi/business/8567440.stm

KC native
03-15-2010, 02:47 PM
and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.

Otter
03-15-2010, 02:54 PM
and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.

Wow, I'm going to but a lottery ticket after work.

HonestChieffan
03-15-2010, 03:01 PM
Wow, I'm going to but a lottery ticket after work.


I think its a good time to watch the Wizard of Oz. The future lies at the end of the yellow brick road!

Calcountry
03-15-2010, 03:17 PM
and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.I am all for it, if it doesn't cost us our standard of living in order to get off it.

Donger
03-15-2010, 03:35 PM
I don't see how anyone could be against us being less dependent on foreign supplies of energy.

Garcia Bronco
03-15-2010, 03:38 PM
and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.

I don't think you understand the full scope of everything that uses oil.

KC native
03-15-2010, 03:58 PM
I don't think you understand the full scope of everything that uses oil.

Did I say eliminate our use of oil? No, I said wean ourselves off of oil. If we move away from gasoline motors (for most instances not all) then the biggest portion of our use falls off a cliff and then if oil disappears we won't be paralyzed.

HonestChieffan
03-15-2010, 04:05 PM
To what would we move? Burros? Maybe a hyperthrust nucleojet? Ride unicorns to market and have tea with the elves?

Donger
03-15-2010, 04:11 PM
Did I say eliminate our use of oil? No, I said wean ourselves off of oil. If we move away from gasoline motors (for most instances not all) then the biggest portion of our use falls off a cliff and then if oil disappears we won't be paralyzed.

You are aware that diesel fuel comes from crude, right?

BucEyedPea
03-15-2010, 04:18 PM
I'm hoping my mama's oil well gushes me some sweet crude for me by July.

banyon
03-15-2010, 06:00 PM
To what would we move? Burros? Maybe a hyperthrust nucleojet? Ride unicorns to market and have tea with the elves?

Yeah, there are literally no technologies out there that people could use in cars. It's CRAZY science fiction,man! :spock:

banyon
03-15-2010, 06:03 PM
You are aware that diesel fuel comes from crude, right?

I am aware of that. What significance do you attach to that fact in relation to this thread?

HonestChieffan
03-15-2010, 08:18 PM
Yeah, there are literally no technologies out there that people could use in cars. It's CRAZY science fiction,man! :spock:

I know.

I hunt deer with an old boy who says they have a carb that will get over 70 miles to the gallon in a 350 v8 but the oil companies paid off the inventor and have hidden the plans.

They also say you can use a hydrogen generator that runs of the car battery and plain old water that boosts the power output, car runs cleaner and uses way less gas. just an anode, some wire and a coupl,e rubber pipes and the Hydrogen flos into the air intake and bingo, your runnin on H. Here is the poop...http://hydrogen-water-cars.amazonwebstore.com/Genesis-Hydrogen-Generator-Complete-Kit/M/B001I1QKQ8.htm?traffic_src=froogle&utm_medium=organic&utm_source=froogle

I'm telling you what, this is all stuff no one will admit to.

Dont talk about it a lot or they will find you. Damn gubbament.

Donger
03-16-2010, 10:35 AM
I am aware of that. What significance do you attach to that fact in relation to this thread?

Yes. KC native specifically mentioned gasoline motors only. Therefore, I presume that he has no issue with diesel motors.

HonestChieffan
03-16-2010, 10:57 AM
Yes. KC native specifically mentioned gasoline motors only. Therefore, I presume that he has no issue with diesel motors.

This administration cut support for biodiesel recently. Thats a rather strong signal that alternatives are really not in their focus for diesel anyway.

go bowe
03-16-2010, 02:03 PM
and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.i could not agree with you more...

go bowe
03-16-2010, 02:06 PM
I don't think you understand the full scope of everything that uses oil.but if we can reduce our consumption, domestic supplies of oil, together with mexican and canadian oil would suffice at some point, freeing us from our dependence on foreign oil...

KC native
03-16-2010, 02:07 PM
Yes. KC native specifically mentioned gasoline motors only. Therefore, I presume that he has no issue with diesel motors.

ah yes the pedantic prick wants to be a pedantic prick. What a shocker. You are aware that you can make diesel from more than just petroleum right?

go bowe
03-16-2010, 02:07 PM
To what would we move? Burros? Maybe a hyperthrust nucleojet? Ride unicorns to market and have tea with the elves?now that's a good idea...

can you imagine how much fun it would be to have lunch with the elves?

sign me up...

Donger
03-16-2010, 02:08 PM
but if we can reduce our consumption, domestic supplies of oil, together with mexican and canadian oil would suffice at some point, freeing us from our dependence on foreign oil...

Canadian and Mexico are still foreign sources of oil, but I think I know what you mean(t).

Donger
03-16-2010, 02:10 PM
ah yes the pedantic prick wants to be a pedantic prick. What a shocker. You are aware that you can make diesel from more than just petroleum right?

Sure, but petrodiesel is by far the most common type. Perhaps you should just be more clear next time.

go bowe
03-16-2010, 02:10 PM
You are aware that diesel fuel comes from crude, right?t-boone pickens, an oilman, says converting big trucks to natural gas is feasible and would drastically reduce our dependence on foreign crude...

Donger
03-16-2010, 02:11 PM
t-boone pickens, an oilman, says converting big trucks to natural gas is feasible and would drastically reduce our dependence on foreign crude...

Sure, but it's still a fossil fuel. As I said, I'm all for reducing our dependence on foreign crude.

go bowe
03-16-2010, 02:13 PM
ah yes the pedantic prick wants to be a pedantic prick. What a shocker. You are aware that you can make diesel from more than just petroleum right?hey, donger is not pedantic...

KC native
03-16-2010, 02:13 PM
t-boone pickens, an oilman, says converting big trucks to natural gas is feasible and would drastically reduce our dependence on foreign crude...

T Boone Pickens is someone that you can only trust as far as you can throw him. Some of his ideas have merit however he is guilty of "talking his book" so he can enrich himself.

KC native
03-16-2010, 02:14 PM
Sure, but petrodiesel is by far the most common type. Perhaps you should just be more clear next time.

Perhaps you shouldn't be a pedantic prick and attempt to derail the thread.

Donger
03-16-2010, 02:14 PM
T Boone Pickens is someone that you can only trust as far as you can throw him. Some of his ideas have merit however he is guilty of "talking his book" so he can enrich himself.

Yep. And I remember reading that he owns a bunch of NG refueling stations all over the country, too.

Donger
03-16-2010, 02:15 PM
Perhaps you shouldn't be a pedantic prick and attempt to derail the thread.

It's not my fault that you chose to only mention gasoline.

KC native
03-16-2010, 02:16 PM
Yep. And I remember reading that he owns a bunch of NG refueling stations all over the country, too.

Mostly in Texas. He's managed to get cities in Texas to convert some of their city vehicles to natural gas. He's trying to get subsidies to build a network of NG refueling stations all over the country.

Donger
03-16-2010, 02:18 PM
Anyway, I think that we'll see pure electric vehicles become very common over the next 10-15 years. We'll need to increase our generation capacity, though, so how to do that? Nuclear, more coal-fired, NG, wind? All? I don't know how much more demand switching 50% of our vehicles to electric would require.

Donger
03-16-2010, 02:19 PM
Mostly in Texas. He's managed to get cities in Texas to convert some of their city vehicles to natural gas. He's trying to get subsidies to build a network of NG refueling stations all over the country.

Heh. Yeah, that doesn't surprise me.

go bowe
03-16-2010, 02:20 PM
Yep. And I remember reading that he owns a bunch of NG refueling stations all over the country, too.a) i think t-boone is already quite rich...

b) owning ng fueling stations makes him a smart investor, not necessarily a charlatan looking to get richer...

c) even if he is, converting big tricks to ng makes a lot of sense to me...

d) ng is indeed a fossil fuel, but we have lots of it and using it on such a large scale would indeed reduce our dependence on non-north american oil...

Donger
03-16-2010, 02:45 PM
a) i think t-boone is already quite rich...

b) owning ng fueling stations makes him a smart investor, not necessarily a charlatan looking to get richer...

c) even if he is, converting big tricks to ng makes a lot of sense to me...

d) ng is indeed a fossil fuel, but we have lots of it and using it on such a large scale would indeed reduce our dependence on non-north american oil...

Let's not pretend that Pickens is doing this for purely altruistic reasons.

And, what it basically comes down to is this: fuel from crude oil is still the most cost-effective way of powering our vehicles. It's unfortunate that we our forced (for various reasons) to get much of our crude (and fuel) from foreign sources, but it is still more cost-effective than any other source.