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OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
Detroit, 12:05 PM
Sun Dec 6
12 posts in the last 24 hours
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OPEC Approves Biggest Production Cut Ever, Market Goes "Meh" |
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12/17/08
12/17/08
who runs barter town?
ampedpack!
embargo lifted...
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12/17/08
Yeah, I'm really happy about all those guys speculating that thought Oil would be $200 by now. Hope they are working at McDonalds.
12/17/08
12/17/08
Market: That's what you said last time. Fuck you, I'm taking the kids and going to my mom's! You've been seeing a lot of China lately, go beat on her from now on.
12/17/08
12/17/08
So how do you think that's going to go? "Yes, we know you're making a fraction of what you were a few months ago. Now we'd like you to cut production so you'll make less, and hopefully that will help you make more in six months or so. kthxbai."
I know that around here, production is already down significantly, just due to the fact that the oil companies up in Fort McMurray are not working around the clock and paying whatever overtime they have to.
12/17/08
I'll take "cryptic gibberish from weird foreigners" for 400 Alex
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12/17/08
I think the outcome of the Carpocalypse needs to be:
1) Gasoline will return to just being a by-product of refining oil... becoming so cheap, that it would barely qualify as a commodity.
2) Automakers push toward hydrogen hybrids and increasing its performance to be above par with current ICE tech.
And as for gas prices rising? I'm not sure of that yet.. I'd say with China talking about cutting out the subsidization of Gas.. that will further cut people there from using so much.
We need cars like the FCX (or at least the tech) to be in more than just southern CA. Wal-mart has the infrastructure to supply the country with enough hydrogen stations to launch it. But will the country be strong enough to take a stand against OPEC?
12/17/08
@Dhillaz: Hydrogen is expensive to produce in bulk now, but that will change. In theory anyplace you have water and sun you can make hydrogen for the cost of maintenance on the equipment. It could even be worked out to use cars as a form of waste water treatment, waste water goes into the hydrogen plant, solids are filtered out, then the still contaminated water is cracked into hydrogen and oxygen, the hydrogen is used in fuel cell vehicles where it combines with oxygen to form water vapor, which is then collected and condensed into an in-car tank, the filler would have two hoses, while one fills your tank with hydrogen the other removes the clean, drinkable water.
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@Merry Fedsmas to All!: And Sunoco just announced that it's upgrading more of its refineries to handle Alberta bitumen. Maybe the rig-pigs won't be sitting on couches all winter after all.