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 Tuesday, April 25 2006 @ 12:32 AM EDT

Oilcast #24: OPEC ridicule British claims as Rita causes havoc


OilcastsThis week Adam Porter takes a look at the way Rita could affect the oil industry.
Will the consequences be as serious as predicted? Or will good luck prevail and a sell-off ensue?
Also from the OPEC meeting in Vienna we hear Kuwait's oil minister Al-Salah ridicule British chancellor Gordon Brown, plus news on non-OPEC output that does not make very healthy reading.

Listen here (MP3 file, 6.6 MB)

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Oilcast #24: OPEC ridicule British claims as Rita causes havoc | 4 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.
Schools close to save gas.
Authored by: PigOil on Monday, September 26 2005 @ 04:45 PM EDT

Isn't this rather odd? :) Nah, it all has to do with a dearth of refining capacity, and the combined impact of Rita and Katrina on the US gas supply. That's it. Or is it?

The AP story is below:

Georgia Closes Schools for 2 Days to Save Fuel:

ATLANTA - The governor's request that Georgia public schools take two "snow days" and close to conserve fuel did not sit well with parents who had to scramble to find baby sitters and day care for their children. here is the link for the rest: click me
Saving gas
Authored by: PigOil on Wednesday, September 28 2005 @ 07:10 PM EDT

(We will be seeing more of these in the not so distant future)

Saving gas, 5 Tips: Ways to make a trip to the pump less painful. September 28, 2005: 2:04 PM EDT By Gerri Willis, CNN/Money contributing columnist

For more click here


Yes, I have read the Wyden report. In my opinion, it failed to honestly address the issue why refining capacity has not been augmented in the US since the early 70's. It aslo shrewdly avoids mentioning that U.S. production peaked right around that time period and fell sharply in the following years.

Greed and profit taking have always been part and parcel of the oil industry's culture, even before the peak (in America). Therefore, Mr Wyden's arguments with respect to the anti-competitive practices employed by the players of the industry are both redundant and misleading. In a chimerical world, where infinite growth is possible due to an infinite supply of energy (in our case, oil); the "problem" of profit margins would dissappear as oil companies would be raking in awesome amounts of profits, resulting from a continued, exponential increase in sales of the product. In reality, "mother Earth" began to teach us- starting in the 70s-that everything within her is finite . Possibly, even her tolerance? :)

thanks for mp3s, pigoil
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