Higher fuel prices? Here's why: MARS oil rig

It is said that about 20 rigs are missing, either sunken or adrift. But this is of course overshadowed by reports that it could be over a thousand left dead in the Mississippi area. Really sad to hear what has happened despite all precautions made...

Temperatures in the Gulf are now at 90*. Perfect for creating killer hurricanes like Ivan, Katrina, etc.

Scary isn´t it? We are burning oil, causing global warming and the force of nature hits back, sweeping away our oil rigs!?

Humility

When I was a younger man and thought that anything that I built would last forever I received this in a letter from an older man. The photo above, is just an unfortunate reminder.....

Ozymandias


I met a traveler from an antique land
Who said: Two vast and trunkless legs of stone
Stand in the desert. Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read,
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed,
And on the pedestal these words appear:
"My name is Ozymandias, King of Kings:
Look upon my works, ye Mighty, and despair!"
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away.


-Percy Bysshe Shelley
1792-1822

We either have to convert our piston engines to a fuel that is in good supply, or invent a new kind of motive power. And we need a government program to fund these efforts.

We have no other choices.









PS not gonna happen as long as oilmen hold power in Washington.

Can you say "panic"

Fair enuf Kevin

That oil that we get from the middle east has to be refined somewhere. Guess where the majority of our refinerys are, the gulf coast. Last time I checked there were not any yachts that could burn crude. You're not going to here me complain about the cost though, atleast not as long as those poor gulf coast citizens are going through a **** that no one should ever have to face.

sources of US crude oil

Just to set the record straight. The US imports more oil from us right now than anywhere else.

http://www.eia.doe.gov/pub/oil_gas/...ons/company_level_imports/current/import.html

CANADA
MEXICO
SAUDI ARABIA
VENEZUELA
NIGERIA
IRAQ
ANGOLA
ALGERIA
ECUADOR
UNITED KINGDOM
COLOMBIA
BRAZIL
NORWAY
KUWAIT
CHAD

Codger what about the Athabasca oil sands? Is the price of crude high enough now to justify extraction?

Supreme irony would be more to the point.

It's ok. The royalties are pretty low. Some issues with water availability....
Lloydminster is a better play.
Long term plays in agriculture with Rapeseed/Canola/Soy for methylesters(bio-diesel). Carbon tax will will have a lot to do with where the returns are.

Oil Prices, Oil Subsidies, very interesting

I thought about posting this as a new subject thread, but when I read thru this one I thought there was some history in this one that needs repeating since we seem to relive it over and over.....like the continuation of these subsidies to the few MAJOR oil companies of the world even while ther HUGH profits should dictate that they should fund their own exploration/production just like any other 'for profit business' in this country.

Dan Dicker, a CNBC contributor and the author of "Oil's Endless Bid" talks with Chris Hayes about why, year after year, legislators are unable to pass the repeal of subsidies for the oil industry, despite huge oil profits, public support for repeal and even open admission by oil executives that the subsidies are unnecessary.

Listen about half way thru this video and you will hear both George Bush and all 5 CEO's of the major oil companies testifing before Congress that they do NOT need these subsidies
Senate filibuster kills (another) bid to end oil subsidies - Video on msnbc.com

Look at this graph she presents on this video as to what crude oil prices have done since 9/11
MSNBC - The Rachel Maddow Show - GOP Defends Big Oil Subsidies (again) 5-5-2011 - YouTube