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I'm not, and I am, Kid. 
-Arrian
-Arrian
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grog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood. -
Tech has helped but most of the oil that is cheapest and easiest to extract was pumped decades ago. Thats why they are increasingly going after heavier oils, more marginal reservoirs and more remote locations. Better tech allows economic extraction in places where it was impossible previously.Originally posted by Kaak
Arrian, advances in tech have greatly increased efficieny. Granted that more expensive extraction is taking place (ie Oil Sands), but technology has helped finding it and getting it out of the ground the traditional way much more cost effective.
Also the "oil boom" has really caught fire in the service industry. The service companies have huge demand and their prices for goods and services have skyrocketed. Large offshore drill rigs for instance charge a day rate about double what it was 3 years ago. Plus every level of employee and contractor are commanding higher day rates
So do not delude yourself that oil is coming out of the ground cheaper.You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto LuongoComment
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Kid,
Regarding supply and demand. Let's take an example: the Pet Rock. Remember the Pet Rock? I do.
What was it? It was a ****ing rock with some stuff glued to it. It cost almost nothing to make and the supply was potentially limitless.
How much is a pet rock worth today? Nada. Yet once upon a time people actually paid money for the stupid things. Why? What changed? Did the supply dry up? Are there no rocks left in the world? No, DEMAND vanished. Demand for a dumb-ass worthless rock, mind you, but demand nonetheless.
This in turn resulted in (I assume) the cessation of production (gluing crap to rocks), eventually shutting down supply of the specific product (of course, rocks themselves are still around
).
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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Originally posted by Flubber
err sumemr driving season anyone-- gasoline demand always spikes in summer just like natural gas demand in Canada always spikes in winter--- its a predictable pattern which your graph reflects
fluuuuuuuubbbbber....the graph shows year over year i know, it's hard to see the forest with all of the trees in the way.
Also, I was berated in the previous for saying that EM was the worlds largest oil company. Well, silly bloomberg made the same mistake.
April 27 (Bloomberg) -- Exxon Mobil Corp., the world's biggest oil company, said first-quarter net income climbed to $8.4 billion from $7.86 billion as increasing global energy demand lifted prices."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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OURS darious, ours
"Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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Huh? It was quite easy to see that . . . and every year there were summertime gasoline spikes. Demand for US gasoline looks relatively consistent although perhaps the price jump is causing a slight reduction in demand ( it should)Originally posted by Kaak
fluuuuuuuubbbbber....the graph shows year over year i know, it's hard to see the forest with all of the trees in the way.
Since the underlying ingredient in gasoline has increased in price by large margins all this is as it is expected
I don't see how anyone could dispute that and also wonder why you folded that response into a different point to me when I have never said anything about the size of ExxonOriginally posted by Kaak
Also, I was berated in the previous for saying that EM was the worlds largest oil company. Well, silly bloomberg made the same mistake.
You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto LuongoComment
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You know this comedy gold would have died out without a second thread.Originally posted by Kaak
OURS darious, ours
Exhibit A:
Exhibit B:Originally posted by Imran Siddiqui
Sometimes it is best to let things die, like Kaak threads, or Terry Schiavo.
Originally posted by Flubber
noooooooooooooooooooooooooooooooooooooooooo!!!Comment
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I was folding it into the same post, it wasn't directed at you. My point in posting the graph was only to show that gasoline demand hasn't increased greatly in the last couple years."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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They were saying that Gas had gone up because demand increased, and now you are saying that gas has gone up because oil went up.Originally posted by Flubber
Since the underlying ingredient in gasoline has increased in price by large margins all this is as it is expected
Read the first thread. Lots of "them" disputed itI don't see how anyone could dispute that ...
"Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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Don't confuse consumption with demand.Originally posted by Flubber
Huh? It was quite easy to see that . . . and every year there were summertime gasoline spikes. Demand for US gasoline looks relatively consistent although perhaps the price jump is causing a slight reduction in demand ( it should)I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Yeah, I remember.Originally posted by Arrian
Kid,
Regarding supply and demand. Let's take an example: the Pet Rock. Remember the Pet Rock? I do.
Certainly I'm not saying that there can be a market where there is not demand. So in that sense you are right. But where there is a long run demand for a product the long run price is determined by the cost to bring the product to market.How much is a pet rock worth today? Nada. Yet once upon a time people actually paid money for the stupid things. Why? What changed? Did the supply dry up? Are there no rocks left in the world? No, DEMAND vanished. Demand for a dumb-ass worthless rock, mind you, but demand nonetheless.
This in turn resulted in (I assume) the cessation of production (gluing crap to rocks), eventually shutting down supply of the specific product (of course, rocks themselves are still around ).
-ArrianI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Originally posted by Arrian
Kid,
Regarding supply and demand. Let's take an example: the Pet Rock. Remember the Pet Rock? I do.
What was it? It was a ****ing rock with some stuff glued to it. It cost almost nothing to make and the supply was potentially limitless.
You're forgetting the training manual. How else could you train your pet rock to play dead or to roll over or to sit??
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I have always said that oil price increase is a big factor in the gasoline price increases.Originally posted by Kaak
They were saying that Gas had gone up because demand increased, and now you are saying that gas has gone up because oil went up.
I suspect that many of the other people when referring to deman are also talking about the underlying demand for oil.
On demand for gasoline we probably don't have enough current data. We may know that consumption is at a certain level at these prices but I don't know that there might have been a demand for millions of gallons more at even a slightly decreased price. Demand for gasoline at a price of x might even be up significantly but that won't be really reflected in actual purchases when the price is at X + a buckLast edited by Flubber; April 27, 2006, 14:56.You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto LuongoComment
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And none of my arguments have been directed at you..."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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