# The "Oil Prices" thread. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [March 10, 2008, 10:44am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739 "2008-03-10T10:44:58Z")\ **Posts on this page:** 20\ **Page:** 38
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 11, 2008, 12:31pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/741 "2008-07-11T12:31:25Z")
JayS, do you have a link to that quote? I would like to read it. Thanks. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 11, 2008, 12:46pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/742 "2008-07-11T12:46:41Z")
> **[Athabasca oil sands](https://en.wikipedia.org/wiki/Athabasca_Oil_Sands)** > > The Athabasca oil sands (or tar sands) are large deposits of bitumen or extremely heavy crude oil, located in northeastern Alberta, Canada – roughly centred on the boomtown of Fort McMurray. These oil sands, hosted primarily in the McMurray Formation, consist of a mixture of crude bitumen (a semi-solid rock-like form of crude oil), silica sand, clay minerals, and water. The Athabasca deposit is the largest known reservoir of crude bitumen in the world and the largest of three major oil sands depo... > **[Oil sands](https://en.wikipedia.org/wiki/Tar_sands)** > > Oil sands, also known as tar sands or crude bitumen, or more technically bituminous sands, are a type of unconventional petroleum deposit. Oil sands are either loose sands or partially consolidated sandstone containing a naturally occurring mixture of sand, clay, and water, saturated with a dense and extremely viscous form of petroleum technically referred to as bitumen (or colloquially as tar due to its superficially similar appearance). Natural bitumen deposits are reported in many countries, b... [http://ostseis.anl.gov/guide/tarsands/index.cfm](http://ostseis.anl.gov/guide/tarsands/index.cfm) You’ll see a lot of money going into research on how to extract that, especially if oil says above $80/barrel which I think it will for a very long time. And this is my problem with “peak oil theory”. Most of stuff that says we’re near peak only looks at current technology and recovery methods. They don’t consider tar sands, deep ocean drilling, CO2 injection etc etc. The big up side to 100+/barrel oil is the huge amount of money to be made finding new oil. @$30/barrel no one would invest in figuring out how to extra the oil from the tar sands, or drill deep in the ocean. At $140/barrel they’re pouring money into this research. ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 11, 2008, 12:49pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/743 "2008-07-11T12:49:24Z")
JayS- i think he was talking about a quote from the NYT. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 11, 2008, 12:58pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/744 "2008-07-11T12:58:45Z")
I didn’t quote anything from them though. Anyway: > **[U.S. Weighs Takeover of Two Mortgage Giants](https://www.nytimes.com/2008/07/11/business/11fannie.html?ref=business)** > > Under the plan, shares of Fannie Mae and Freddie Mac would be worth little or nothing, and any losses on mortgages they own or guarantee would be paid by taxpayers. ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 11, 2008, 6:14pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/745 "2008-07-11T18:14:04Z")
no, I was talking about the sand oils. Thank you very much I have never heard any of that. You may have just changed my opinion on that subject. ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 11, 2008, 7:00pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/746 "2008-07-11T19:00:29Z")
Alberta estimated that the Athabasca deposits alone contain 35 billion barrels (5.6×109 m3) of surface mineable bitumen and 98 billion barrels (15.6×109 m3) of bitumen recoverable by in-situ methods well, not nearly that much is currently recoverable, but hopefully in the future it will be. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 12, 2008, 4:46am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/747 "2008-07-12T04:46:09Z")
> [@Penfold](#): > > Alberta estimated that the Athabasca deposits alone contain 35 billion barrels (5.6×109 m3) of surface mineable bitumen and 98 billion barrels (15.6×109 m3) of bitumen recoverable by in-situ methods > > well, not nearly that much is currently recoverable, but hopefully in the future it will be. Yeah, they say only about 10% was recoverable @$62/barrel. Now that it’s $140 I’m sure that number goes up. And with each year of new investment I’m sure that number goes up too. The days of drilling a 100 foot well and pumping out oil are coming to an end. The days of $20/barrel oil have also come to an end. If you believe that’s the only oil the planet has then we’re probably at peak oil. That really isn’t the case though. It actually works out quite well though. There’s enough harder to reach oil to get us through until we find a replacement, but it’s hard enough to get that it forces us to really start looking for that replacement. It still doesn’t warrant oil over $100/barrel though. ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 14, 2008, 7:31am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/748 "2008-07-14T07:31:31Z")
President Bush will lift executive ban on offshore drilling, the White House says. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 14, 2008, 7:51am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/749 "2008-07-14T07:51:32Z")
:tup: ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 14, 2008, 11:25am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/750 "2008-07-14T11:25:13Z")
:lolno: ---
**Author:** ![ryanmcell](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ryanmcell/32/7510_2.png) [@ryanmcell](https://forums.speedlife.net/u/ryanmcell)\ **Post date:** [July 14, 2008, 1:12pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/751 "2008-07-14T13:12:14Z")
[http://www.cnn.com/2008/POLITICS/07/14/bush.offshore/index.html](http://www.cnn.com/2008/POLITICS/07/14/bush.offshore/index.html) WASHINGTON (CNN) – President Bush lifted an executive order banning offshore oil drilling on Monday and urged Congress to follow suit… ---
**Author:** ![Supraman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/supraman/32/7307_2.png) [@Supraman](https://forums.speedlife.net/u/Supraman)\ **Post date:** [July 14, 2008, 3:19pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/752 "2008-07-14T15:19:40Z")
> [@ryanmcell](#): > > [Bush lifts executive ban on offshore oil drilling - CNN.com](http://www.cnn.com/2008/POLITICS/07/14/bush.offshore/index.html) > > WASHINGTON (CNN) – President Bush lifted an executive order banning offshore oil drilling on Monday and urged Congress to follow suit… [http://uk.reuters.com/article/oilRpt/idUKN1445899520080714](http://uk.reuters.com/article/oilRpt/idUKN1445899520080714) Reid rejects Bush call to lift drilling moratorium ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 14, 2008, 3:29pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/753 "2008-07-14T15:29:22Z")
> [@Supraman](#): > > [http://uk.reuters.com/article/oilRpt/idUKN1445899520080714](http://uk.reuters.com/article/oilRpt/idUKN1445899520080714) > > Reid rejects Bush call to lift drilling moratorium wow, maybe he needs to come to Buffalo and work with our politicans, he’d fit right in. :picard: ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 15, 2008, 6:01am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/754 "2008-07-15T06:01:28Z")
Gas lines coming this fall > **[Gas Lines Coming This Fall](https://seekingalpha.com/article/84966-gas-lines-coming-this-fall)** > > Gas lines are not hard to find.  This fall, you will likely see them at your local gas station: There were spot shortages during the 2007 harvest in North at least read the summary. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [July 15, 2008, 7:04am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/755 "2008-07-15T07:04:18Z")
I just wanted to mention the show the other night with Jim Kramer on NBC. When asked about gas prices, the very first words our of his mouth were India and China. It is not just this looney old man saying it, there are also _respected_ financial people saying it. The media only blames Bush(war) and speculators, there is more to it than just that kiddies. That is all.(for now) ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 15, 2008, 7:12am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/756 "2008-07-15T07:12:28Z")
Psh. Supply and demand has nothing to do with the price of oil. Anyhow. I will see the end of oil in my lifetime. I’m going to quote this right before Al Gore turns off the internet amidst the anarchy of an unindustrializing society. Or maybe I’ll quote it someday amidst the age of Aquarius when everything runs sunshine and rainbows. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [July 15, 2008, 7:35am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/757 "2008-07-15T07:35:46Z")
> [@AWDrifter](#): > > I just wanted to mention the show the other night with Jim Kramer on NBC. > When asked about gas prices, the very first words our of his mouth were India and China. > It is not just this looney old man saying it, there are also _respected_ financial people saying it. > The media only blames Bush(war) and speculators, there is more to it than just that kiddies. > > That is all.(for now) You’re not really the only one, fwiw. I’ve been calling out China & India by name for at least two years now. :sario: ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 15, 2008, 8:39am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/758 "2008-07-15T08:39:47Z")
Oil prices tumble more than $10 ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 15, 2008, 8:41am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/759 "2008-07-15T08:41:23Z")
WAT? Shit just dropped $6 bucks in 10 minutes? ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 15, 2008, 8:43am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/760 "2008-07-15T08:43:44Z")
question, which price should I be looking at from this, [http://www.bloomberg.com/markets/commodities/energyprices.html](http://www.bloomberg.com/markets/commodities/energyprices.html) there are 3 different prices [Previous page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=37) [Next page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=39)