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+--- Thread: Oil market (/showthread.php?tid=912)
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Oil market - Timelord - 24 January 2012
http://www.guardian.co.uk/business/2011/jun/23/oil-petrol-energy-prices?INTCMP=ILCNETTXT3487
RE: Oil market - Scythe13 - 25 January 2012
This is an interesting point, because it shows that we have 'emergency' supplies.
Most of Texas stopped their oil production simply because it was cheaper to import oil from another country. The oil fields in Texas still have plenty of stores.
The same goes to most places. I was speaking to a guy who's friend has an oil company. He said that of all the successful wells they drill, for every 3 they dig, they cap 1 or 2 of them. This might be only a modern phenominon, but it still shows there is plenty of oil round and about.
One of the major causes of the increase in oil price, other than tax, is the devaluing of the dollar. All oil has to be measured by the dollar after the OPEC (I'm pretty sure it was OPEC) agreement. If the dollar is falling in purchasing power, the rest of the world feels the hit on fuel and other things like that.
RE: Oil market - bigpaul - 25 January 2012
I'd like to know where the UK "Emergency" oil is, i was told a long time ago we only had what was in the system.
RE: Oil market - NorthernRaider - 25 January 2012
(25 January 2012, 10:31)bigpaul Wrote: I'd like to know where the UK "Emergency" oil is, i was told a long time ago we only had what was in the system.
By NATO agreement and EU negotiation all the NATO states in Europe are supposed to keep 90 days of fuel supplies for civil defence or military use, but NONE for civilian use. Rumour has it we actually only have tween 45 and 60 days worth of military stocks set aside.
Most other NATO members have set up storage facilities dfor their ful reserve but the Uk just told the refineries to keep the extra stocks they needed.
Soooo basically theres none for the sheeple apart from whats already in the system, and the preppers have what they have cached.
RE: Oil market - bigpaul - 25 January 2012
(25 January 2012, 11:07)NorthernRaider Wrote:(25 January 2012, 10:31)bigpaul Wrote: I'd like to know where the UK "Emergency" oil is, i was told a long time ago we only had what was in the system.
Soooo basically theres none for the sheeple apart from whats already in the system, and the preppers have what they have cached.
yes, thats basically what i heard too!
RE: Oil market - Scythe13 - 25 January 2012
Okay, who's going to fill up their car when it's payday?
Answer: Nobody, as panic buying will have closed that chance off for all of us!
RE: Oil market - bigpaul - 25 January 2012
(25 January 2012, 13:35)Scythe13 Wrote: Okay, who's going to fill up their car when it's payday?
Answer: Nobody, as panic buying will have closed that chance off for all of us!
i always fill up the car when the fuel guage gets to half full- i NEVER let it go below that!
RE: Oil market - Reality Jones - 25 January 2012
Looks like I'll be off to Halfords for some more jerry cans this weekend after pay day!
RE: Oil market - NorthernRaider - 25 January 2012
Reuters are just being reported on Sky news as saying the price of oil is likely to rise 20 to 30 % cos of the embago on Iran.
RE: Oil market - uks - 25 January 2012
Just ordered 3 more jerry cans at £10 each. When i get them that will 200 l in reserve.