$220 barrel oil? Perhaps more?

Re: $220 barrel oil? Perhaps more?

PostBy: lsayre On: Sat Feb 26, 2011 8:30 pm

Here's one to think about. Worldwide discovery of new oil reserves is currently running at a rate of roughly one new barrel being discovered for every 4 barrels that are being consumed.

The peak of oil discovery happened worldwide in 1968. Current annual worldwide discovery doesn't even come anywhere close to 1968. Peak discovery in the USA happened in about 1930, and peak USA production was in 1970. In the USA we presently produce only about 50% of what we produced in 1970, despite an estimated roughly 4,500 more rigs operating today on US soil (plus off-shore) than in 1970.

It took ~40 years (1930 to 1970) for the USA to go from peak discovery to peak production. If the world is functioning on a similar scale overall, then with peak world discovery in 1968, one would expect peak world production in 2008. It may have actually happened that way. Time will tell.
lsayre
 
Stoker Coal Boiler: AHS S130 Coal Gun
Coal Size/Type: Stockton Anthracite Pea
Other Heating: Resistance Boiler (13 KW)

Re: $220 barrel oil? Perhaps more?

PostBy: samhill On: Sat Feb 26, 2011 8:35 pm

Here`s more to think about, just about every time the price of oil has doubled in the U.S. it has been closely followed by a recession.
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
Hand Fed Coal Stove: hitzer 75 in garage
Stove/Furnace Make: keystoker/hitzer
Stove/Furnace Model: koker 160/ hitzer 75

Re: $220 barrel oil? Perhaps more?

PostBy: snuffy On: Sat Feb 26, 2011 11:42 pm

Lisa asked the question about historical economic prespectives regarding coal consumption and high oil prices. For those who care to look at the "Dismal Science" this website:
http://www.dani2989.com/matiere1/coal1109gb.htm

will help those interested.
snuffy
 
Hand Fed Coal Stove: Harman SF250 & Mark III backup
Other Heating: Oil Hot Water


Re: $220 barrel oil? Perhaps more?

PostBy: KLook On: Sun Feb 27, 2011 7:43 am

Production and actual reserves are totally different. When I was working in the Texas oil fields around 1980, the price of oil collapsed from the mid/high 30's to the teens per barrel. :shock: All that caused was a shutdown of the production from the wells in the US. Why sell oil if it is cheaper from other sources? Same in any commodity market. Look at the corn prices because of Ethanol.

Kevin

They were screaming about running out of oil, gold, silver, iron, etc. over 100 years ago during the industrial revolution. Guess what, it didnt happen. We just kept finding more. Not sure when this will end, but I am not going to promote panic over it.
KLook
 
Stoker Coal Boiler: Harman VF 3000
Coal Size/Type: rice, bagged, Blaschak
Stove/Furnace Make: Harman (Back In Maine)
Stove/Furnace Model: VF 3000

Re: $220 barrel oil? Perhaps more?

PostBy: lowfog01 On: Sun Feb 27, 2011 8:38 am

snuffy wrote:Lisa asked the question about historical economic prespectives regarding coal consumption and high oil prices. For those who care to look at the "Dismal Science" this website:
http://www.dani2989.com/matiere1/coal1109gb.htm

will help those interested.


Thank you for the article. It was very intersting. I'm getting my next year's coal asap. Lisa
lowfog01
 
Hand Fed Coal Stove: Mark II & Mark I

Re: $220 barrel oil? Perhaps more?

PostBy: SMITTY On: Sun Feb 27, 2011 1:36 pm

Coal has gone way up around here. My original supplier is now selling it for $312 a ton!! :shock: I used to get it there for $270. My current supplier has gone up $20/ton since I bought last spring.

Diesel is close to $4 a gallon along the Mass pike. Regular is $3.35 last I saw. Hi test is closer to $4/gallon as well. O.J is $6.50 a gallon!!

This is nothing. By 2012, we'll be begging for $5/gallon gas ... nevermind $4/gallon. :|

Get ready ...
SMITTY
 
Stoker Coal Boiler: Patriot Coal - custom built by Jim Dorsey
Hand Fed Coal Stove: Harman Mark III (not currently in use)
Coal Size/Type: Rice / Blaschak anthracite
Other Heating: Oil fired Burnham boiler

Re: $220 barrel oil? Perhaps more?

PostBy: mason coal burner On: Sun Feb 27, 2011 5:54 pm

this is exactly what obama wants !!! if he can't get his cap and trade threw congress . he will just shut down oil production everywhere . he is getting things threw no matter how he has to do it . we will be begging for solar and wind . when oil was at 147 $ per barrel 3 years ago . bush said he was going to open off shore drilling and oil dropped to 33 $ per barrel . obama won't do that because that is what he wants . just look at his face . you couldn't slap that smile off his face if you tried !!!! he wants to collapse the economy before the 2012 elections . he and all his cronies are fueling these roits . they want things to fall apart !!!! we have hundreds of years of oil here in the US . same with coal . they say we are the suadi arabia of natural gas . i saw that for every penny gas goes up that is 1 billion $ over seas out of the US . tell me who or when this will stop or turn around . not with this president . who's goping to let them turn coal to fuel oil. not obama he wants to get rid of all of it . more ethanol means higher food prices . so you pay one way or the other there . have you noticed they tell you to eat carrot sticks while they eat burgers , ribs , and steak . they want to tell us how to live while they live like royalty !!!
mason coal burner
 
Stove/Furnace Make: hitzer/glenwood
Stove/Furnace Model: 82/111

Re: $220 barrel oil? Perhaps more?

PostBy: KLook On: Sun Feb 27, 2011 6:11 pm

That is the basis of Socialism, you are not entitled because you are not one of the ruling class. There is no equality in socialism, it is just a theory. Keep your place and dont make waves, you'll lose your place in the bread line if you do. See Communism in Russia for references.

Kevin
KLook
 
Stoker Coal Boiler: Harman VF 3000
Coal Size/Type: rice, bagged, Blaschak
Stove/Furnace Make: Harman (Back In Maine)
Stove/Furnace Model: VF 3000

Re: $220 barrel oil? Perhaps more?

PostBy: Fran654 On: Sun Feb 27, 2011 6:21 pm

be prepared, arm yourself now , load all weapons and stand on HIGH ALERT,,,, i totally agree with the statement about the pres driving us broke,, economy will colapse by 2012 and he will get elected again,,you watch, then its really gonna be over, not like it aint over already!!!!!! prepare yourself for the utmost worst that way you might not be so surprised whenit hits you,
Last edited by Fran654 on Sun Feb 27, 2011 6:28 pm, edited 1 time in total.
Fran654
 
Stove/Furnace Make: US Stove
Stove/Furnace Model: 6100M

Re: $220 barrel oil? Perhaps more?

PostBy: Fran654 On: Sun Feb 27, 2011 6:26 pm

we as americans need to take the YES WE CAN << to the next level and get the america we know and love back ,,somehow
Fran654
 
Stove/Furnace Make: US Stove
Stove/Furnace Model: 6100M

Re: $220 barrel oil? Perhaps more?

PostBy: mason coal burner On: Sun Feb 27, 2011 6:36 pm

noway i can make it threw 2 more years of this . it just going to get worse .
mason coal burner
 
Stove/Furnace Make: hitzer/glenwood
Stove/Furnace Model: 82/111

Re: $220 barrel oil? Perhaps more?

PostBy: mason coal burner On: Sun Feb 27, 2011 7:19 pm

this is how they are going to light europe on fire . most of their oil and natural gas comes from lybia .
mason coal burner
 
Stove/Furnace Make: hitzer/glenwood
Stove/Furnace Model: 82/111

Re: $220 barrel oil? Perhaps more?

PostBy: homecomfort On: Thu Apr 07, 2011 7:04 pm

oil prices were higher under prez. bush. he did'nt have a magic waand.. stop blaming the president, he is not the problem.
homecomfort
 
Stove/Furnace Make: Franco-Belge,+ Penn Stove
Stove/Furnace Model: Normandie, + Chubby

Re: $220 barrel oil? Perhaps more?

PostBy: freetown fred On: Thu Apr 07, 2011 9:18 pm

Quit livin in the past,whoever you are & where-ever you're from----Not being part of the solution is the same as being part of the problem---you know, like the buck stops there ;) -
homecomfort wrote:oil prices were higher under prez. bush. he did'nt have a magic waand.. stop blaming the president, he is not the problem.
freetown fred
 
Hand Fed Coal Stove: HITZER 50-93
Coal Size/Type: BLASCHAK Nut/Stove mix

Re: $220 barrel oil? Perhaps more?

PostBy: SMITTY On: Thu Apr 07, 2011 10:46 pm

May 15 is a date to keep in the back of your mind.

Why? Because that's Israel's Independence Day. Something is probably going to happen ..... and if it does, we will be BEGGING for $4 a gallon gas.

Nothing we can do but sit and watch ... :|
SMITTY
 
Stoker Coal Boiler: Patriot Coal - custom built by Jim Dorsey
Hand Fed Coal Stove: Harman Mark III (not currently in use)
Coal Size/Type: Rice / Blaschak anthracite
Other Heating: Oil fired Burnham boiler


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