BP plc (BP)

All Comments on BP

  • commenter
    theinvesting
    speculator
    May 23 09:21 AM
    My Website
    America's Energy Policy: Coming to Terms with Reality [view article]
    The US has huge inflation from oil and other places. I write about it today:
    theinvestingspeculator...     Reply
  • commenter
    John Armesto
    May 23 09:10 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Finally the Anerican people are seeing that the Democratic congress which is taking orders from politically correct fanatical environmental groups is at the crux of the problem. Thank God for elections this year.
    I bet if you followed the money funding our continued congressional dependence on foreign oil you would find the source is OPEC.     Reply
  • commenter
    Sandy the
    Independent
    May 23 08:46 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Washington and their hearings would be funny if were a Hollywood movie and not something that affects the entire world. Refusing to expand energy, making ethanol the #1 alternative energy -- ethanol that is pushing inflation as badly as the price of energy -- rather than natural gas and wind -- scary.

    But we all must remember that this is an election year. And getting reelected is much more important than the reality of our countery going to H.... in a Handbasket.     Reply
  • commenter
    36model
    May 23 08:34 AM
    My Website
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    Like several of you have said, there are many reasons for the high price of oil today. Beating up the Oil Company Executives is counterproductive and only helps some politicians feel better and plays to the environmentalists nuts. I read today that China is preparing to drill within fifty miles of the Florida coast. And still our companies can't drill in areas where we know there is plenty of oil. We could be independent of foriegn oil if allowed to drill in ANWR and off both coasts. We have proven this can be done safely so what't the problem? We can use the time to develop technology to get away from petroleum but this will take years. It's the politicians that are killing our economy not the oil companies. Reply
  • commenter
    Jimm
    May 23 08:16 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    I didn't really see anything political in this article. It's pretty accurate.
    If Panskeptic knew anything about how much an oil well in the North Sea costs, or the hoops oil companies have to jump through to build or even repair anything, he's be less skeptical. A 10% profit margin isn't unreasonable.
    Watch 'em, don't hang 'em.
    Reply
  • commenter
    Panskeptic
    May 23 08:07 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Well, gee, now we know Picerno's political preferences. And was he as exercised when a bunch of power companies all pulled their capacity offline simultaneously causing a spike in rates, and the Bush Justice Department forbade the states to investigate?

    I find it equally risible when Washington bloviators parrot Ronald Reagan and Milton Friedman slogans that have proven just as untrue, irrelevant and off-the-wall. I love "the magic of the market" that gave us Enron, LTCM and Bear Stearns. But I guess we'll hear about that brainless silliness in Mr. Picerno's next post.     Reply
  • commenter
    Bobco23
    May 22 09:15 PM
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    Where did you get this guy, the weather underground? 1) There is no oil conspiracy just a pardigm shift in the economic evolution of the world. Get over it and profit. 2) The end of the financial world is not coming, just punishment for those unfortunate enough to get caught in the bubble bust. Like tech, housing and credit will recover in time. 3) Deflation? You mean inflation. Printing money causes inflation not deflation (see Samuelson, Econ 101).
    Reply
  • commenter
    mlambert890
    May 22 08:22 PM
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    Tiger, you've got it right, but 3 is a huge factor, not a small one. The simple fact is that US oil demand has been *down*. Goldman predicts ever increasing price per barrel, oil sets daily records, yet demand is not really there and supply *is* keeping up.

    Its funny how everyone, once again, wants to turn a blind eye to an obvious case of collusion and price fixing. Subprime happened, we let it happen - let the sharks bleed the system and yelled "MARXIST!!!" at anyone who suggested intense regulatory reform was needed.

    Now everyone is running in a panic predicting the end of days and meanwhile, oil SOARS irrationally. And what happens? Some suggest that MAYBE the cartel of 9 figure investors manipulating oil futures should be reigned in and BAM... "MARXIST!!!"

    We reap what we sow all right. The vast majority of us idiots keep supporting the protection of 8 and 9 figure net worth individuals buying into the bullshit that it will trickle down and believing the delusion that "some day, we'll get there too! thats what the USA is all about!"

    Its high time that the vast majority of us (any loser like me working for a living - even in a deep six figure job - and posting on a board like this) dropped the delusions of grandeur and realized that the deliberate manipulation of the global credit market, and now commodities markets, by billionaires and institutions isnt something the free market can continue to allow if it plans to survive.

    We're heading for a model where the top 1% hold 100% of the wealth and the rest of us are foraging for food or, perhaps, we return to feudalism.

    The answer is increased regulation and more tools in the hands of the fed. And possibly some criminal prosecutions and 8 and 9 figure fines against individuals for the credit meltdown.     Reply
  • commenter
    Bergius
    May 22 05:00 PM
    My Website
    Biofuel Innovators with Alternatives to Oil [view article]
    Using biomass to make alcohol and bio-diesel is labor-intensive, expensive, has low yield and does not produce a fuel similar to either gasoline or diesel.

    Sometimes newer technologies are not the best technologies. Did you know that wood waste (slash, pine beatle kill, mill waste, etc) can be turned into commercial quality liquid fuel (gasoline, avgas, diesel, heating fuel, etc) through a fairly simple refining processs known as Bergius Hydrogenation? Germany developed the process in WW2 and it was later advanced in the USA (using German scientists) in the late 1940's. In 1949 the head of one of the U.S. test plants said he could produce all the commercial grade unleaded 87 octane gasoline America wanted for 1.5 cents per gallon before taxes and profit.

    Oil was cheap and plentiful then. The technology was incorporated into the modern day cracking process where 4 barrels of gasoline plus many other related products are produced from 1 barrel of oil. Actually you don't need oil. Any compound containing carbon can be hydrogenated into gasoline, heating or diesel fuel. The Bergius process will convert 99% of carbon into fuel. This means that not only wood waste but things like used tires, plastic bags and household trash could also be converted. Note that this process does not produce an alternate fuel. It produces exactly the same fuel as that refined from oil.

    I know this process works. I had a forest company and a mill in the 70's. I built a stage-1 wood-waste converter and ran a stationary 4-cylinder datsun gas engine directly from the output. This engine powered all the hydraulics at the mill.
    Reply
  • commenter
    Gajonka
    May 22 04:34 PM
    My Website
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    mixter- you identify the problem, but you have no solution. Who's fault is this? Incomplete... but refreshing. B- better structure next time. You'll get there! Reply
  • commenter
    Gajonka
    May 22 04:31 PM
    My Website
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    clf will miss and collapse like it always does. a co. needs to execute WITH higher revenue, clf does not execute. See ya~! Reply
  • commenter
    sivere
    May 22 03:01 PM
    My Website
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    We need to develop our domestic sources asap. In addition we need to start developing alternative sources- coal, nuclear, solar, etc.

    The $100+ dollar/barrel oil prices are a blessing in disguise, because they make alternatives economically possible. But they will kill us (potentially literally) if there is no organization around developing the alternatives.

    This is coupled with a collapse of our financial system. That is the 1, 2 double punch and you are out.

    We need, in addition to the above energy scenarios, to TakeBackTheFed.com

    If we do not get off our duffs, we will truly be in trouble. NOW IS THE TIME TO ACT.     Reply
  • commenter
    Brian A.
    Davis
    May 22 01:11 PM
    My Website
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    Dear Readers,

    Thank you for your excellent posts. I find a high degreee of irony to the degree which Big Oil...and to a lesser extent small oil is taking a verbal beating from the powers that be.

    There have been a number of theories behind oil price. Three make the most sense:
    1. The purchasing power of the U.S. Dollar (oil is priced in dollars) has lost its clout...George Soros would agree!
    2. The emergence of China and India as consumers has caused an
    exceedingly high demand. This is coupled with a less than Pro-American stance from countires in OPEC.
    3. Last, is the manipulation of prices. While there is a slight degree of manipulation (because oil is a commodity), Congress may try to hang their hats on this issue...However, it is nothing more than an act of grandstanding...and taking the public's eye off problem #1 and problem #2.

    Interestingly enough, John D. Rockefeller Sr. (Standard Oil) took a beating for producing the best and cheapest oil in the country. As a matter of fact, he was viewed as the original tycoon...Teddy Roosevelt vilifed Standard Oil and became the trust buster.

    Interestingly enough, once the Trust was broken oil prices actually increased...as opposed to decreased. And John D. was seen as a bad guy...go figure. Leave it to politicans and media to form public opinion.

    Domestic drillers should be the big winners here!

    Respectfully,

    Brian A. Davis     Reply
  • commenter
    captbob
    May 22 12:25 PM
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    Over the past few years, diesel's popularity as an automotive fuel has grown significantly. Thanks to its higher energy content and its efficient combustion process, diesel performance enables cars to travel at least 30% farther on a gallon of fuel than comparable gasoline models.

    The improved efficiency of diesel engines can also help reduce oil consumption. It should be noted, however, that it takes about 25% more oil to make a gallon of diesel fuel than a gallon of gasoline, so we should really look at how a vehicle does on fuel efficiency in terms of "oil equivalents." Thus, we need to adjust the mileage claims for diesel vehicles downward by about 20% when comparing them to gasoline-powered vehicles. There are diesel four passenger cars in Europe getting 90MPG see VW & Audi 1.2 TDI. They are not and never have been imported here--WHY???---.

    What we use now is nothing but solar energy converted to plant matter by photosynthesis. That process took millions of years, the technology exists, right here right now replicate and accelerate this process to produce bio-diesel that will run a truck or fly a plane in --24--HOURS, and clean the emissions of co2 from a coal burning generator as a fuel source---ALL at the same time!!!--(see bio-diesel algae).

    Just connect the dots folks the path is clear, lets stop debating the rules of the race. That's just politico-speak for how I personally can benefit.

     Reply
  • commenter
    bearfund
    May 22 10:42 AM
    The Triple Play: Oil Addicts, The Credit Crunch and Deflation [view article]
    Got that right, mixter. If you don't like the price of oil, you should use less of it and/or buy stock in oil companies. You'd think people would understand that if you're consuming something and don't intend to stop, you are effectively short futures on that thing; if you expect the price to rise, you should hedge that out by building long exposure elsewhere. It's amazing to me that every car-owning American doesn't have a few hundred shares of some oil companies socked away somewhere. As an example, STO just paid out about $1.67 per share. If you use 2 tanks of gasoline a month, we'll figure that at $120. So 900 shares of STO would cover your gasoline bill, more or less indefinitely, regardless of whether oil and the stock itself go up or down. This is a stock that as recently as January could be had for $25; considering the fact that interest rates are negative, securing a lifetime supply of gasoline for a one-time investment of about 23 years' inflation-unadjusted cost at $22500 should look pretty attractive. As a bonus (and a big bonus it is), the more oil goes up while you hold it, the bigger your profit when you eventually quit driving and sell your shares. Similar calculations could be done with XOM or XLE or Canroys or even futures and options, depending on which risks one is willing or unwilling to take on. I guess Americans are afraid of or don't understand the capital markets; in the era of ETFs and easy access to every kind of security (and the constant creation of new ones) they offer plenty of ways to take on, or hedge against, almost any imaginable combination of risks.

    Instead of using the system we already have, they'll demand some boneheaded moves from Congress. This kind of reaction is why I find America so unappealing as an investment target. The people have no discipline and would rather whine and blame others than get their own houses in order.     Reply

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