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The Advice Guru
Posts: 6419
  
| Bear - 2015-12-19 5:56 PM
How long can diesel be stored in a tank?
Goes stale in less then a year |
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 Elite Veteran
Posts: 851
 
Location: West Texas | TXBO - 2015-12-19 4:43 PM
Tdove - 2015-12-19 4:35 PM I waxed the floor with you sir. Right..... And OPEC has nothing to do with crude prices.
If anyone CONTROLLED oil prices you would not have seen prices go from $140 to $40 to $110 to $35 in the course of 8 years. It's the free market and world production that controls the price. "If" OPEC were one country with one leader, they could theoretically control the price. But you have to figure, it's the markets reaction to supply, demand, and future outlook that determines the price. Production and consumption are at a near parody, over the last 8 years or so. Only when there is vast more production than usage can anyone simply control the price. You have to figure that Saudi Arabia is loosing $600 million dollars a day in revenue. Those boys sure would like to have that money back. It is their economy. If you don't think they don't want world wide consumption to improve, well I can't help you. Yeah they are hoping that the low prices squeeze out some market share back their way. But U.S. tech has increased so much they are betting a dangerous game. Saudi cannot horizontal drill or frack. So I stand by my current statement that in 2014-2015, OPEC did not cause oil prices to plummet. That is my assertion, and context for all my statements. It's not just me. Many many real experts in the industry are saying the same thing. That is where I am getting my information. |
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 BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | Cheryl, I think you are getting Iraq and Iran mixed up. I get what you are saying though.
Good thread. |
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | Tdove - 2015-12-19 6:13 PM
TXBO - 2015-12-19 4:43 PM
Tdove - 2015-12-19 4:35 PM I waxed the floor with you sir. Right..... And OPEC has nothing to do with crude prices.
If anyone CONTROLLED oil prices you would not have seen prices go from $140 to $40 to $110 to $35 in the course of 8 years. It's the free market and world production that controls the price. "If" OPEC were one country with one leader, they could theoretically control the price. But you have to figure, it's the markets reaction to supply, demand, and future outlook that determines the price. Production and consumption are at a near parody, over the last 8 years or so. Only when there is vast more production than usage can anyone simply control the price. You have to figure that Saudi Arabia is loosing $600 million dollars a day in revenue. Those boys sure would like to have that money back. It is their economy. If you don't think they don't want world wide consumption to improve, well I can't help you. Yeah they are hoping that the low prices squeeze out some market share back their way. But U.S. tech has increased so much they are betting a dangerous game. Saudi cannot horizontal drill or frack. So I stand by my current statement that in 2014-2015, OPEC did not cause oil prices to plummet. That is my assertion, and context for all my statements. It's not just me. Many many real experts in the industry are saying the same thing. That is where I am getting my information.
Why can't they horizontal drill or frack? Is it the geology? |
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 Googly Goo
Posts: 7053
| Bear - 2015-12-19 6:27 PM Tdove - 2015-12-19 6:13 PM TXBO - 2015-12-19 4:43 PM Tdove - 2015-12-19 4:35 PM I waxed the floor with you sir. Right..... And OPEC has nothing to do with crude prices.
If anyone CONTROLLED oil prices you would not have seen prices go from $140 to $40 to $110 to $35 in the course of 8 years. It's the free market and world production that controls the price. "If" OPEC were one country with one leader, they could theoretically control the price. But you have to figure, it's the markets reaction to supply, demand, and future outlook that determines the price. Production and consumption are at a near parody, over the last 8 years or so. Only when there is vast more production than usage can anyone simply control the price. You have to figure that Saudi Arabia is loosing $600 million dollars a day in revenue. Those boys sure would like to have that money back. It is their economy. If you don't think they don't want world wide consumption to improve, well I can't help you. Yeah they are hoping that the low prices squeeze out some market share back their way. But U.S. tech has increased so much they are betting a dangerous game. Saudi cannot horizontal drill or frack. So I stand by my current statement that in 2014-2015, OPEC did not cause oil prices to plummet. That is my assertion, and context for all my statements. It's not just me. Many many real experts in the industry are saying the same thing. That is where I am getting my information. Why can't they horizontal drill or frack? Is it the geology?
They have no need to. They have 50% of their reserves untapped. |
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | Tdove said they can't horizontal drill or frack. Is it that they actually can't for some reason, or there's no need?
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The Advice Guru
Posts: 6419
| Bear - 2015-12-19 6:24 PM
Cheryl, I think you are getting Iraq and Iran mixed up. I get what you are saying though.
Good thread.
I could have, I always get those two mixed up, lol |
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Elite Veteran
Posts: 851
Location: West Texas | I think I may need to revise my statement (but not 100% sure). I think they can horizontal, but they don't have the technology to frack effectively, yet. I think they do want to and their formation might not be as conducive to fracking benefits, I don't know. The one thing I know is that the future of oil consumption and production is an ever evolving entity with technology changing things all the time. The issue will remain to be drilling costs. The real problem with fracking and horizontal now is that the drilling and completion costs are so high. No oil prices, no horizontal frack wells. Eventually, production slowing will force prices back up and the roller coaster will continue.
Edited by Tdove 2015-12-19 7:07 PM
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Googly Goo
Posts: 7053
| Bear - 2015-12-19 6:38 PM Tdove said they can't horizontal drill or frack. Is it that they actually can't for some reason, or there's no need? I really don't know about their capability Doc. It is reasonable to assume their technology is behind the times. They have had such easy access to crude for so many years, there is no need to invest in advancements.
Edited by TXBO 2015-12-19 7:11 PM
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | This is a wee bit off topic, but I've always toyed with the idea of getting a tank, say 1000 gals, and buying in bulk. These low diesel prices make me wish I'd done this. I just think it's nice to have that kind of reserve on hand.
Comments? Advice? |
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Googly Goo
Posts: 7053
| Bear - 2015-12-19 7:11 PM This is a wee bit off topic, but I've always toyed with the idea of getting a tank, say 1000 gals, and buying in bulk. These low diesel prices make me wish I'd done this. I just think it's nice to have that kind of reserve on hand. Comments? Advice?
Hell yea! Can't have too much desiel, food, ammo or whiskey in reserve. |
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 Last Comedian Standing 
Posts: 10919
Location: South Texas | Oh yeah and all those big RV parks are pretty vacant |
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Last Comedian Standing
Posts: 10919
Location: South Texas | This unbelievable. Buccees in Baytown Diesel $1.56. We are filling every tank we have! |
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Googly Goo
Posts: 7053
| snazzy - 2015-12-19 8:16 PM This unbelievable. Buccees in Baytown Diesel $1.56. We are filling every tank we have!
That's 5 minutes from my crib, Snazzy. Come by and have a beer. |
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | Everyone agrees that our economy is on thin ice. I remember back about 5 years ago when gas prices rose precipitously from about $1.60 to over $4.00 a gallon within about 18 months. If something happens to cause gas prices to shoot through the roof, that could really tip us over the edge. |
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