Mmarrkk

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257 Comments

    • Wed Jun 25th 10:45 AM | Rating: 0 0
      Commented on:
      Oil Price Implications of a Strike on Iran
      Thank goodness you weren't around in the 1940's lookit. With your views, we would never have been able to take on the Nazi's in WWII. But we were successful in WWII and could be here, if the gloves were taken off! One bomb would be enough.
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    • Wed Jun 25th 10:40 AM | Rating: 0 0
      Commented on:
      Kinder Morgan Suffers Mounting Oil Losses
      Someone else mentioned it in a much more eloquent way than I but here's the rub: Selling crude oil/natural gas forward does not result in a LOSS! Except in the fairy tale world of the SEC and Financial Accounting. In the REAL WORLD of cash flow, all it does is reduces the amount that we COULD HAVE MADE. Like if I bought Microsoft when it was $2/share and sold it when it went to $10/share. Did I lose anything? Even though I could have waited and sold it at $100? No! I made $8/share, I did not lose $90/share.

      Wulf: get your act together.
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    • Wed Jun 25th 09:26 AM | Rating: 0 0
      Commented on:
      Kashagan Illustrates Hurdles of New Oil Production
      Brian: why would you call Transocean to find out how long it takes to discover, appraise, plan and develop a field? They are a rig contractor; they know nothing about the development of a field, the time it takes to engineer, design, build, install and startup a facility. Once a license/lease is given, seismic data must be shot across the acreage, then the seismic data is processed through computers, and given to geophysicists. They then interepret the data and determine if any prospects are available for drilling. Then the well is drilled and evaluated. All of the above is a bare minimum of 1-1/2 years for deepwater as just drilling the well will take 4-6 months, not to mention the planning, the shooting of seismic, etc. Then once there is a discovery, plans are made to figure out what the well is telling us, and how we will need to appraise the prospect. Then we will need to drill one or more appraisal wells to make sure we understand what's down there and to figure out how to develop the field. Assuming all goes right, that's a bare minimum of 1-1/2 years, but more likely 2+ years. And that's if you only have to drill ONE appraisal wells. Most take more than that. Then once appraised, we finalize the development concept and begin the engineering of the solution. That is then put out to shipyards for final design and construction. Then the facility is built and installed. Look for 2-3 years IF YOU ARE LUCKY!! Look at BP's Thunderhorse installation?? Even before the screw up, it took them over 3 years from appraisal to get the facility designed and built.

      So, doing it in one year is a joke. Doing it in 5 years is really aggressive.

      We still need to do it, but just be reasonable with the time lines.

      And don't call a Rig contractor to find out how to develop oil fields.
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    • Mon Jun 23rd 11:15 AM | Rating: 0 0
      Commented on:
      The 'Peak Oil' Myth: New Oil Is Plentiful
      Bottom line: you are right, there are lots of new discoveries with the hopes (not known's) of big reserves. All that you listed will REQUIRE very high oil prices. If prices drop below $75/BO, you won't see these huge volumes developed. That's the bottom line. So, if the oil is in the ground but we can't afford to develop it, is it of any use?
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    • Mon Jun 23rd 10:59 AM | Rating: 0 0
      Commented on:
      Even Democrats Should Support Offshore Drilling
      Glad you are almost there on energy. But God help us all for your other thoughts! While smart, Obama is a marxist. His fiscal policies will basically involve tax the rich, give away all funds to those who support him and screw those who don't. Throw in a lot of wasteful government spending and some basic Illinois graft, corruption and pay backs, and you have a fitting picture of good ol' Barry! Is it a coincidence that he purchased a home at well-below market value from a well-connceted politico? Is it a coincidence that he is good friends with a convicted felon and someone who bombed the Pentagon? Or that he went to church and claims as a mentor a racist? Sorry, his type of brains we don't need. His type of fiscal policy we don't need. His type of social change we don't need. While I'm not enthralled with McCain, I'll hold my nose and vote for him rather than try out the tired old Democratic party policies.

      Change? Hope? yeah right. With good ol' Barry all there will be will be "hope" that I have any "change" left in my pocket to pay for my groceries. Or will he have a government program designed to force people to use a government program to give out groceries? Much like his medical insurance plan?
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    • Fri Jun 20th 16:52 PM | Rating: 0 0
      Commented on:
      Oil Prices and Political Energy
      what you are seeing jyarddog, is the demand for contracts!! As oil prices started to rise, there were a lot of investors wanting a piece of the action. Stocks suck; fixed income investments are yielding very low results, so the investor needed to go somewhere where the possible returns were higher. So they started chasing oil. The fundamentals look great...limited supply and increasing demand. So money went pouring into oil. That's why you see the contracts skyrocketing. And we know what happens when a lot of people want in on the game...prices go up. Same thing happens in a stock. Look at the volume of trades on a high flying stock...they skyrocket in number and likewise price.
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    • Fri Jun 20th 11:12 AM | Rating: 0 0
      Commented on:
      Bush's New Drilling Proposal: Fixing a Hole
      RWB: here's the deal. The oil companies and the government signed contracts related to the terms of the leases. For the government to go back and modify these leases is in essence a breach of contract. How is it that the government can add the drill or lose clauses to a contract that was previously agreed to? I believe that's called a "takings" and could put the government in court with the oil companies for many years. Further delaying drilling on these properties not to mention making it less likely that the companies will do anything.

      One thing I do know: oil companies are looking for all of the drilling inventory that can find tht meets economic hurdles. They are not just sitting and waiting because they can; they are sitting because either the are
      1) studying the acreage to decide where to drill
      2) waiting on permits from governments which take forever
      3) waiting on surface owners to give them surface use permits if its in the Rockies and the federal land is split between a surface user and a minerals/oil lessee
      4) the property isn't economic at today's prices/costs
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    • Thu Jun 19th 09:52 AM | Rating: 0 0
      Commented on:
      Oil Majors' Divergence from Crude at Record
      Short answer to jjason: If "senator" Durbin is saying it or doing it, I am against it!! He's a goofy leftist who can't be trusted for anything other than lining his own pocket. You'll need to start your posts off with someone with more credibility if you want to be taken seriously. And that would eliminate a large number of senators and congressmen. Particularly ones with a "D" after their names but it includes a huge number of those with "R" as well. And "I" for that manner.
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    • Thu Jun 19th 09:47 AM | Rating: 0 0
      Commented on:
      Can Offshore Drilling Bring Down Gas Prices?
      Tom B: "environmental risk"?? Get real. Companies today can and do operate offshore GOM without disturbing the environment. Its a red herring.

      And to those that say "its just a small amount...a drop in the bucket", why are we reverting to these goofy little light bulbs instead of incandescent bulbs? The savings are really small, so why bother?
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    • Wed Jun 18th 10:01 AM | Rating: 0 0
      Commented on:
      Obama Clueless on Oil Economics
      The only way to get a Democratic Senator or Congressmen to do anything is to either a) ensure it provides them money in pocket either now or in the future, b) makes Bush look bad, c) supports taxing more earners and giving away more money to failed projects and programs. Well there a few more, like if you can get Murtha in a position to hang out to dry a US servicemen, or if you can ensure Obama with a huge discount from market value on a property deal, etc. But don't get your hopes up. The Dem's are forever locked in their socialist agenda.

      And I don't have much hope for Repub's either. Only a few are true conservatives and many suffer similar issues as Dem's. Except the tax side. Their only true difference from Dem's...they don't want to tax us to hell. If they only could stop spending like drunken Democrats! Sorry Teddy.
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    • Wed Jun 18th 09:52 AM | Rating: 0 0
      Commented on:
      Obama Clueless on Oil Economics
      You could have titled the article "Obama Clueless on Economics" as he is equally inept at all economic theory EXCEPT the theory of Marx, Lenin, etc. Oh, and Robin Hood! Steal from the rich, give to the poor. Take away from the producers, give to the takers.

      He is a disaster waiting to happen. It will take many years to recover from his crap, much like it did with Carter. Unfortunately, he has the vote of the young who are too inexperienced to know good economics from the tattoos they all love to have, minorities because he either a) panders to their nanny-state needs or b) their racist tendencies and then the just plain stupid (Al Gore, for one).

      I just hope McCain can stop him. Or maybe his wife can open her mouth again. Or her preacher. Or his scandal ridden past. Anything, please!!! I fear for our country with this joker in charge.
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    • Wed Jun 18th 09:43 AM | Rating: 0 0
      Commented on:
      Reasons to Love 3-Digit Oil
      "Horses pass gas stations." Actually, horses pass gas. full stop. So do cows. Wonder what their impact is on Greenhouse Gases?

      Sharksm, love your attitude! All the clamoring about why doesn't "Big Oil" invest in alternative energy...yada yada yada. They are "Big Oil", not "Big Batteries" or "Big teensie little cars" etc. Other companies should do this. And investors can decide to rotate out of Big Oil and into Big Greenies.
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    • Tue Jun 17th 08:55 AM | Rating: 0 0
      Commented on:
      Oil's Gains Are Due to Fundamentals, Not Speculation
      wallace: I agree with your ultimate point: we need to drill and start finding ways to be less dependent. I also think we need to start finding other alternatives for the future. BUTTTTTT, you comments really do prove its a supply and demand issue. When the Arabs squeeze down on supply, prices go up. Just as you say. When they open up the taps, prices go down. All at a constant or rising demand. That, my good fellow, is supply and demand. Now, your real point is that the supply is being "managed" by a foreign government. That, too, is correct, but doesn't disprove supply/demand theory. But you know, its their oil; they can do with it what they please. However, its our military and we can provide protection or we can be less protective!! Of course, the Chinese would also love to provide the Saudi's with protection so we have to be careful what we threaten them with.

      Can you say "rock and a hard place"??

      Atlantic Ave: while McCain may not bring much "new" to the discussion, the crappola that Barack Hussein Obamma brings is downright frightening. He wants to slap a windfall profits tax on oil and place a confiscatory tax on 5 companies. All of this burden being placed on the only companies/people doing anything to help supply us with oil. Yeah, that's really going to help our supply problem!! Let's see, spin off Exxon into two companies, one US based and one international based. Huge percentage of profit and revenue would be in the international portion; small portion left in US. That way Bamma Mamma's greedy little marxist hands couldn't get to their earnings. Yeah, tax and tax, always works. Can we not get a "do over" on these two candidates?? I really think both are pretty crappy as it relates to oil and the economy.
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    • Tue Jun 17th 08:46 AM | Rating: 0 0
      Commented on:
      Oil Hits $140: What Could Trigger a Reverse?
      Simple d, you say the mining oil shale is "environmentally disruptive, much like drilling our coastlines". Could you please tell us how drilling our coastlines is environmentally disruptive? We have the technology and the oversight to allow for drilling along any coastline and not have it disrupt anything. In fact, it has been shown to be highly beneficial to fish populations. The only disruptive thing is the neural connectors of some members of our Congress who can't quite figure out out to punch their way out of a wet "energy paper bag". And both presidential candidates leave a lot to be desired here as well. But alas, they are both parts of the Congress which has gotten us to this dismal place to begin with. At least McCain will consider drilling; Bamma Mamma won't even consider it, unless it yields him a sweet deal on some real estate at below market prices. Oh, I forgot, we aren't supposed to mention the sins of the annointed one. Oh great Changer and Hoper! Forgive me! My only Hope is that he will leave some spare Change in my pocket when he's done confiscating all of my earnings.
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    • Tue Jun 17th 08:34 AM | Rating: 0 0
      Commented on:
      StatoilHydro Achieves Milestone with First Delivery of Liquefied Natural Gas to U.S.
      You do realize we have been importing LNG for many years now, don't you? and that the drop in our current storage of NG is largely due to a reduction in the amount of LNG imported this past year as prices in Europe and the Far East have attracted large amounts of LNG? They are paying $15/MMBTU for the gas while our market was $9 and is now $13.
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