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Old 10-19-2006, 10:19 AM  
Donger Donger is offline
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Saudis Signal Support for OPEC Cut
http://hosted.ap.org/dynamic/stories...10-19-09-53-09

DOHA, Qatar (AP) -- Saudi Arabia's oil minister said Thursday that his country supports OPEC's proposed 1 million barrels-a-day production cut.

"We will try to make the market balanced," Ali Naimi said, ending two weeks of silence from the world's largest oil producing nation and giving a quick jolt to oil prices.

Naimi's statement came as the cartel's oil ministers gathered in the capital of Qatar for emergency talks on cutting output after a price decline of more than 25 percent since mid-July.

Light sweet crude for November delivery rose 70 cents to $58.35 a barrel in electronic trading on the New York Mercantile Exchange.
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Old 10-19-2006, 01:52 PM   #46
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Quote:
Originally Posted by bunnytrdr
THere is a theory, that oil is created inorganically by the earths heat where the mantle meets the crust. Some geological formations, such as one off the La. coast, have had their productivity increase after they were almost fully depleted.

Do you know anything about this?
No, I don't.
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Old 10-19-2006, 02:03 PM   #47
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Originally Posted by Donger
No, I don't.
Well fug my nose! I thought you knew everything about oil.
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Old 10-19-2006, 02:04 PM   #48
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Quote:
Originally Posted by bunnytrdr
Well fug my nose! I thought you knew everything about oil.
I'm not a Petroleum Engineer, but I CAN tell you that oil is greasy..........
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Old 10-19-2006, 02:12 PM   #49
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Originally Posted by ChiTown
I'm not a Petroleum Engineer, but I CAN tell you that oil is greasy..........
I thought you were a trader?
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Old 10-19-2006, 02:15 PM   #50
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Quote:
Originally Posted by bunnytrdr
Well fug my nose! I thought you knew everything about oil.
Not even close.
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Old 10-19-2006, 02:18 PM   #51
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Originally Posted by bunnytrdr
Fine, here's your problem. How do you get that product to market? Ethenol doesn't pipe through pipelines well. Are you going to truck it? Are you going to make Ethanol big rigs?
Lots of rigs run on Ethanol Bio diesel already. And you make a good point, the fuel has to be trucked in-just like it is now.
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Old 10-19-2006, 02:19 PM   #52
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Quote:
Originally Posted by bunnytrdr
I thought you were a trader?
Yep, that's why I'm not a Pet. Eng.

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Old 10-19-2006, 02:20 PM   #53
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Quote:
Originally Posted by bunnytrdr
THere is a theory, that oil is created inorganically by the earths heat where the mantle meets the crust. Some geological formations, such as one off the La. coast, have had their productivity increase after they were almost fully depleted.

Do you know anything about this?
Oil will most likely regenerate, but not faster than consumption.
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Old 10-19-2006, 02:24 PM   #54
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We've got oil too. I say screw the Caribou, lets start drilling in Alaska.
Do you listen to Glenn Beck too?? LOve that show...
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Old 10-19-2006, 02:25 PM   #55
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Quote:
Originally Posted by bunnytrdr
Well fug my nose! I thought you knew everything about oil.
You should bump your 'official gas price thread' and we should nuke thos one. Sorry, I forgot about that thread.
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Old 10-19-2006, 02:30 PM   #56
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Yep lets ruin Alaska for generations-instead of useing Ethanol?? Smart choice.
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Old 10-19-2006, 02:30 PM   #57
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Originally Posted by Donger
You should bump your 'official gas price thread' and we should nuke thos one. Sorry, I forgot about that thread.
This thread is just fine, I don't want to have to look for that one, I am too lazy.
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Old 10-19-2006, 02:31 PM   #58
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Yep lets ruin Alaska for generations-instead of useing Ethanol?? Smart choice.
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Old 10-19-2006, 02:31 PM   #59
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Quote:
Originally Posted by Halfcan
Yep lets ruin Alaska for generations-instead of useing Ethanol?? Smart choice.
I think that's a little over-the-top, don't you? Have you ever seen an oil drilling operation?
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Old 10-19-2006, 02:31 PM   #60
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Originally Posted by Halfcan
Yep lets ruin Alaska for generations-instead of useing Ethanol?? Smart choice.
I envision a world swimming in oil and gasoline. Just dripping in it, with oil rigs all over the place, pumping and pumping.

Yeah, I like it.
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