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Detroit, 12:35 PM
Mon Nov 23
13 posts in the last 24 hours

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  • posts about #crude more →

    OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"

    Industry Group Attempts to Prompt Fears Over Maritime Diesel Switch
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    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of ampedpack ampedpack
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Time to buy those 500 gallon storage tanks and horde me some cheap gasoline.
     Reply
    ampedpack was starred ampedpack was unstarred
    Image of damnelantra™ damnelantra™
    12/17/08

    @ampedpack: who runs barter town?

    who runs barter town?


    ampedpack!


    embargo lifted...

     Reply
    damnelantra™ was starred damnelantra™ was unstarred
    Image of Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face.
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Another part of the equation I'm surprised nobody mentioned is the fact that a whole schlockload of people have lost their jobs in the last several months. These people can't afford gas, and don't have anywhere to drive to if they could.
     Reply
    Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. was starred Mike the Dog is sitting by the door with a pair of cow slippers, and a very sad face. was unstarred
    Image of DoctorNine DoctorNine
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of DoctorNine DoctorNine
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Thud...


     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of damnelantra™ damnelantra™
    12/17/08

    @DoctorNine: is that refining or drilling?
     Reply
    damnelantra™ was starred damnelantra™ was unstarred
    Image of DoctorNine DoctorNine
    12/17/08

    @damnelantra™: Production, unrefined.
     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of DoctorNine DoctorNine
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Xoo
     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of DoctorNine DoctorNine
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Xoom
     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of DoctorNine DoctorNine
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Xoom!
     Reply
    DoctorNine was starred DoctorNine was unstarred
    Image of Van Sarockin, rogue trebuchet Van Sarockin, rogue trebuchet
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Yup, this is not OPEC's best day. On the other hand, we're all hoping the economy returns from its vacation, or whatever crack fueled bender it's taken off on, and when that happens the demand for oil will spring back up. Just be careful that the US's necessary opening of the monetary spigots hasn't both devalued our currency and fueled an inflationary spiral.
     Reply
    Van Sarockin, rogue trebuchet was starred Van Sarockin, rogue trebuchet was unstarred
    Image of FrankRizzo FrankRizzo
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Speaking of Russia, I know there was a time when they had the best 1ct. and above diamond mine in the world, and they weren't going along with DeBeers requests to "stop shipping all those damned rocks! You're killing us!". So, the word from OPEC might be ignored just as stringently. I don't know if they ever agreed to be governed by DeBeers, but I enjoyed hearing the story back then.
     Reply
    FrankRizzo was starred FrankRizzo was unstarred
    Image of Brimful of Ash on the 78 Brimful of Ash on the 78
    12/17/08

    @FrankRizzo: I understand that Russia still has a vault so full of ready-to-market diamonds that it would undermine the entire market by like 75% if released. I assume DeBeers is paying them off or something.
     Reply
    Brimful of Ash on the 78 was starred Brimful of Ash on the 78 was unstarred
    Image of Landau_Calrissian loves our President Camacho. Landau_Calrissian loves our President Camacho.
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    The best part of this is all the jackass speculators who took a bath. I hope that continues for a little before prices go back up.
     Reply
    Landau_Calrissian loves our President Camacho. was starred Landau_Calrissian loves our President Camacho. was unstarred
    Image of Saboth Saboth
    12/17/08

    @Landau_Calrissian:


    Yeah, I'm really happy about all those guys speculating that thought Oil would be $200 by now. Hope they are working at McDonalds.

     Reply
    Saboth was starred Saboth was unstarred
    Image of acarr260 acarr260
    12/17/08

    @Saboth: I hope McD's is smart enough not to hire those greedy bastards.
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of joneez wants the clunkers he paid for joneez wants the clunkers he paid for
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    OPEC President Chekib Kheli: Come back baby, I won't hit you anymore!


    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.

     Reply
    joneez wants the clunkers he paid for was starred joneez wants the clunkers he paid for was unstarred
    Image of acarr260 acarr260
    12/17/08

    @joneez: China can be such a slut sometimes... especially if you have the inputs for production.
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of Deartháir II Deartháir II
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    It's not only Russia. Even OPEC members don't necessarily play nice with each other. Historically, they've announced production cuts before, but the problem is that the countries involved rely heavily on oil production to fund their own governments; so it becomes a game of "someone else will do it". When they're cutting production because the price is low, they're just eating heavily into already-reduced profits for their production.


    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.

     Reply
    Deartháir II was starred Deartháir II was unstarred
    Image of Cognitive Friction Cognitive Friction
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    OPEC President Chekib Kheli told reporters "I hope we surprised you. If you're not surprised we need to do something about it."


    I'll take "cryptic gibberish from weird foreigners" for 400 Alex

     Reply
    Cognitive Friction was starred Cognitive Friction was unstarred
    Image of damnelantra™ damnelantra™
    12/17/08

    @Cognitive_Friction won COTD and a STAR!: that one earns you a jalopnik brand friendship heart™
     Reply
    damnelantra™ was starred damnelantra™ was unstarred
    Image of Timtoolman, sporadically speaking Timtoolman, sporadically speaking
    12/17/08

    @Cognitive_Friction won COTD and a STAR!: Hey, kudos on the star. I'm still working on mine.
     Reply
    Timtoolman, sporadically speaking was starred Timtoolman, sporadically speaking was unstarred
    Image of Miscellanea Miscellanea
    12/17/08

    @timtoolman: Don't worry. You'll get there someday. And then you too can feel inadequate when star studded comments flop. I mean here you are, a star commenter, but your quips just aren't as quippy and your piths aren't as pithy anymore. Soon you find yourself laying in a gutter sucking waste oil from a puddle just to taste that automotive regale that you once enjoyed. But it doesn't end there. The pressure builds until one day you find yourself throwing walnuts at passing hot hatches and attaching "-camino" as a postfix to every other word you mutter. Desperate for the attention you once bathed in, you find yourself penning fictitious rants regarding stars and cars...
     Reply
    Miscellanea was starred Miscellanea was unstarred
    Image of acarr260 acarr260
    12/17/08

    @Miscellanea, now on the main floor!: That's a great comment-amino. now where did I put my straw?!
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of jchabotte jchabotte
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Actually, Yes, you should trade your Excursion in!! The longer we keep sticking it to them, the better off we'll be.


    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?

     Reply
    jchabotte was starred jchabotte was unstarred
    Image of something_unique_and_descriptive something_unique_and_descriptive
    12/17/08

    @jchabotte: Honestly, I'd rather walk than set foot near a Wal-Mart.


    @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.

     Reply
    something_unique_and_descriptive was starred something_unique_and_descriptive was unstarred
    Image of Feds Feds
    12/17/08

    In reply to OPEC Approves Biggest Production Cut Ever, Market Goes "Meh"
    Don't worry, we've got plenty of oil in Alberta. Of course, politicians from Alberta are basically egomaniacal dictators anyway, so you're not really further ahead by giving THEM more money.
     Reply
    Feds was starred Feds was unstarred
    Image of SmaartAasSaabr SmaartAasSaabr
    12/17/08

    @Merry Fedsmas to All!: But they are fun! King Ralph was always good for a laugh!
     Reply
    SmaartAasSaabr was starred SmaartAasSaabr was unstarred
    Image of Deartháir II Deartháir II
    12/17/08

    @SmaartAasSaabr: Oh King Ralph. Getting drunk and berating homeless people, and still managing to keep a 90% approval rating.


    @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.

     Reply
    Deartháir II was starred Deartháir II was unstarred
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