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Thread: North America to Drown in Oil as Mexico Ends Monopoly

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by cpwill View Post
    Well HOT Dog!



    This is all kinds of good news, for us and for Mexico.
    The following is not against cpwill, but against the article he linked to.

    Whoever wrote the OP article does not seem to know what they are talking about in terms of what this would mean to America and world oil prices.

    This article suggests that up to an addition 2.5 million barrels per day could be added to world supply and that this would 'contribute to a glut'.

    The current world oil production is (according to Wikipedia) over 84,000,000 million barrels a day.

    2.5 million is about 3% of that.

    So by adding only 3% more to world oil production that will single-handedly cause a 'glut' and lead to North America 'drowning in oil'.

    I highly doubt that.

    After Saddam was overthrown, Iraqi oil production plummeted down to about 1.3 million barrels per day. Today it is over 3.4 million barrels per day, which is an increase of 2.1 million (not much less then the predicted Mexican increase). Did that cause a glut? Nope.

    Iraq Crude Oil Production by Year (Thousand Barrels per Day)

    List of countries by oil production - Wikipedia, the free encyclopedia

    List of countries by oil consumption - Wikipedia, the free encyclopedia


    Like most economic reporters, they are (IMO) prone to exaggeration.

    I believe that the notion that adding only 3% to world oil production will cause a 'glut' is nonsense.

    Will it help - sure.

    But not to remotely the extent this reporter suggests by stating 'North America to drown in oil.'


    As for oil prices?

    5 Year Crude Oil Prices and Crude Oil Price Charts - InvestmentMine

    In the last 5 years, oil prices have gone from over $140/barrel, down to under $40/barrel and back up to over $130/barrel...all without any large change in production.

    Oil prices fluctuate FAR more due to reasons outside of oil production...especially in the short-medium term.
    Last edited by DA60; 12-17-13 at 04:25 PM.

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by DA60 View Post
    The following is not against cpwill, but against the article he linked to.

    Whoever wrote the OP article does not seem to know what they are talking about in terms of what this would mean to America and world oil prices.

    This article suggests that up to an addition 2.5 million barrels per day could be added to world supply and that this would 'contribute to a glut'.

    The current world oil production is (according to Wikipedia) over 84,000,000 million barrels a day.

    2.5 million is about 3% of that.

    So by adding only 3% more to world oil production! that will single-handedly cause a 'glut'?

    I highly doubt that.

    After Saddam was overthrown, Iraqi oil production plummeted down to about 1.3 million barrels per day. Today it is over 3.4 million barrels per day, which is an increase of 2.1 million (not much less then the predicted Mexican increase). Did that cause a glut? Nope.

    Iraq Crude Oil Production by Year (Thousand Barrels per Day)

    List of countries by oil production - Wikipedia, the free encyclopedia

    List of countries by oil consumption - Wikipedia, the free encyclopedia


    Like most economic reporters, they are (IMO) prone to exaggeration.

    I believe that the notion that adding only 3% to world oil production will cause a 'glut' is nonsense.

    Will it help - sure.

    But not to remotely the extent this reporter suggests by stating 'North America to drown in oil.'
    well the author picked a good title for a article on all the oil spills in north america.

    Alberta Tar Sands Spill Is Slowing but Not Stopping | Mother Jones
    "If you can't stand the way this place is, Take yourself to higher places!"
    Break, By Three days grace

    Hilliary Clinton/Tim Kaine 2016

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by AliHajiSheik View Post
    Perhaps an entity such as Statoil or Petrobras would be one of the players.
    Oh you mean state run oil companies? Doubt it.

    I didn't see anywhere in the article that said that the US had a veto over who would be eligible to participate.
    Seriously.. do you really expect the US to allow China to have any access anywhere near US borders? Plus at the end of the day, Mexico wont want to piss off the US.. they share a border after all.
    PeteEU

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by PeteEU View Post
    Horrible news. More massive profits for fat American companies and none for the average Mexican.
    What about the average American? Selfishly speaking, I think this should be good news.

    Corruption is corruption. The only difference is in the recipients. How does this affect the average Mexican even, let alone American?

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by PeteEU View Post
    Oh you mean state run oil companies? Doubt it.



    Seriously.. do you really expect the US to allow China to have any access anywhere near US borders? Plus at the end of the day, Mexico wont want to piss off the US.. they share a border after all.
    Too late, they already own a portion of Canada's resources.

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by specklebang View Post
    What about the average American? Selfishly speaking, I think this should be good news.

    Corruption is corruption. The only difference is in the recipients. How does this affect the average Mexican even, let alone American?
    To be honest... I would say it would effect them just as negatively. There is zero incentive to lower energy prices. Supply has been higher than demand for years, and yet we are still at 100 dollar oil.
    PeteEU

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by clownboy View Post
    Too late, they already own a portion of Canada's resources.
    And you think they will be allowed to own all of Mexicos?
    PeteEU

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by Verax View Post
    No....
    All you needed to say. You have NO proof that an economy can transition to 100% alternative energy sources.

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by Verax View Post
    What will the economic effects of climate change be? The estimates put it in many trillions but its very hard to quantify. But you guys don't believe in climate change so its not a problem, right?
    It's your job to quantify, or at the very least show that the costs are greater then collapsing consumer demand and our industrial sector. It's not that I don't believe in climate change, I do. But if the "cure" causes more misery then the disease, what does that say about the doctor?

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    Re: North America to Drown in Oil as Mexico Ends Monopoly

    Quote Originally Posted by ReformCollege View Post
    All you needed to say. You have NO proof that an economy can transition to 100% alternative energy sources.
    LoL, why is it my job to have proof? Where is your proof? I have never looked for "absolute proof" that we can transition to a 100% alternative energy source, neither have I advocated for that in the near term but you like so many others will cling to that strawman to the death.

    What is obvious is that we can have a significant effect that lowers fossil fuel use, which is what you're running from.

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