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Thread: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by apdst View Post
    Their primary business is to produce energy. If they find a new energy source that will be safer and more cost effective, they're going to be on it like white on rice. They're not in the oil business just because they like drilling for oil; they're in the oil business because it's the most practical and cost effective energy source there is. You're right, they're not stupid people.
    You have NO idea how long I have been saying this.
    You have NO idea how unwilling (some) people are to understand it.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by Goobieman View Post
    You have NO idea how long I have been saying this.
    You have NO idea how unwilling (some) people are to understand it.
    I have a very good idea! We can't stop trying to stamp out ignorance.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by apdst View Post
    I'll tell ya how: because until the technology is born to in able to fit cars with onbaord nuclear reactors, we'll never stop using petroleum.
    Not really. Fully electric cars or extremely efficient hybrids fueled with biofuels could replace liquid fuel for vehicles. The real question about getting off petroleum is in fertilizers and jet fuels.

    Please read posts more carefully.

    Their primary business is to produce energy. If they find a new energy source that will be safer and more cost effective, they're going to be on it like white on rice. They're not in the oil business just because they like drilling for oil; they're in the oil business because it's the most practical and cost effective energy source there is. You're right, they're not stupid people.
    And that addresses my point how? While their primary business is providing energy, they are exceptionally invested in oil. And the profits on oil for the foreseeable future are going to be exceptionally high. They will not walk away from that, but at the same time they know the end of the oil era is coming and only a fool does not plan for the end of their gravy train.

    I know exactly what a commodity exchange is. Oil is priced the same way that corn id priced: supply and demand. Not that my comment has anything to with that, but you had to redirect it somehow, I reckon.
    Sure you do, keep telling yourself that. Tell me, does adding 50,000 barrels daily to a world consumption of 82.1 million barrels change the price? Furthermore, can that 50,000 barrels per day change the price when the vast majority of that 82.1 million is largely set by a few price setters?

    The notion that a small producer can radically change the market prices in an industry dominated by a few players is like saying a mom and pop grocery can take down a Walmart Super Center.

    The ignorance this place has in regards to commodity exchanges is insane.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by PeteEU View Post
    It will take at least 10 years to get a single drop out ... at least.
    It took over 100 years to build the great cathedrals of the middle ages, and then hundreds more years to complete the finishing touches.

    Modern man expects, however, instant results...

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by PeteEU View Post
    It will take at least 10 years to get a single drop out ... at least.
    You are so jealous, it's eating you alive. Just because Spain is an oil loser. Come on, this is important.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by American View Post
    You are so jealous, it's eating you alive. Just because Spain is an oil loser. Come on, this is important.
    Jealous of exactly what? That a UK company makes a supposed giant oil discovery in International waters? You do know that BP is a British company right?

    As for Spain being an "oil loser"? Okay..I guess Repsol is just a 2 bit company and not the 15th biggest in the world with extensive holdings in South America..... And if being an "oil loser" is being less dependant on oil over time because they are investing heavily in alternative energy.. sure by all means call Spain losers..
    PeteEU

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by obvious Child View Post
    Not really. Fully electric cars or extremely efficient hybrids fueled with biofuels could replace liquid fuel for vehicles. The real question about getting off petroleum is in fertilizers and jet fuels.
    Electric cars will, someday replace petroleum engines, however that's a few decades away. That's my whole point, the technology hasn't matured. It will take even longer to invent ways to power trucks, boats and aircraft with anything other than petroleum fuels. Switching to bio-fuels is a terrible plan. We don't want to turn our food and water supply into our fuel supply.





    And that addresses my point how? While their primary business is providing energy, they are exceptionally invested in oil. And the profits on oil for the foreseeable future are going to be exceptionally high. They will not walk away from that, but at the same time they know the end of the oil era is coming and only a fool does not plan for the end of their gravy train.
    That's right, they're invested in oil, because it's more practical and cost effective than any other source. Until some new technology comes along that will be as practical and cost effective, oil is going to be the spearhead of our energy sources.



    Sure you do, keep telling yourself that. Tell me, does adding 50,000 barrels daily to a world consumption of 82.1 million barrels change the price? Furthermore, can that 50,000 barrels per day change the price when the vast majority of that 82.1 million is largely set by a few price setters?
    An increase in supply, when there's no increase in demand will cause prices to go down. That's how supply and demand works.

    The notion that a small producer can radically change the market prices in an industry dominated by a few players is like saying a mom and pop grocery can take down a Walmart Super Center.

    The ignorance this place has in regards to commodity exchanges is insane.

    Grocery stores aren't commodity exchanges. Wal Mart pays the same amount for corn that Bob's Stop-n-Shop does. Speaking of ignorance of commodity exchanges.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by apdst View Post
    Electric cars will, someday replace petroleum engines, however that's a few decades away. That's my whole point, the technology hasn't matured. It will take even longer to invent ways to power trucks, boats and aircraft with anything other than petroleum fuels. Switching to bio-fuels is a terrible plan. We don't want to turn our food and water supply into our fuel supply.







    That's right, they're invested in oil, because it's more practical and cost effective than any other source. Until some new technology comes along that will be as practical and cost effective, oil is going to be the spearhead of our energy sources.





    An increase in supply, when there's no increase in demand will cause prices to go down. That's how supply and demand works.




    Grocery stores aren't commodity exchanges. Wal Mart pays the same amount for corn that Bob's Stop-n-Shop does. Speaking of ignorance of commodity exchanges.
    Price isn't the major issue, cost is.....
    The hidden costs accrued from buying oil from our enemies is far beyond the piddling issue of price...
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by UtahBill View Post
    Price isn't the major issue, cost is.....
    The hidden costs accrued from buying oil from our enemies is far beyond the piddling issue of price...

    All the more reason to drill here, drill now. Combine our oil, natural gas, hydro, wind, solar and bio-fuels and tell the rest of the oil producing world to eat **** and die.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by apdst View Post
    All the more reason to drill here, drill now. Combine our oil, natural gas, hydro, wind, solar and bio-fuels and tell the rest of the oil producing world to eat **** and die.
    To be more accurate, eat your sand, drink your oil, then die....
    Oracle of Utah
    Truth rings hollow in empty heads.

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