$2 gas will be back after Iran nuclear deal -Tom Kloza analyst

[Fabbs]

Gas may only dip a few cents when the Iranian oil first starts to flow again, but by September drivers could see big savings.

"Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month," said Tom Kloza, chief oil analyst with the Oil Price Information Service. "By December a lot of places are going to see gasoline at $2 or less."
Iran hasn't been able to sell oil to the United States since 1995. Most major Western countries imposed sanctions within the last five years aimed at curbing Iran's nuclear program. Instead it's been selling to China, India, Turkey and other developing markets.
Crude oil and gasoline prices were both initially lower Tuesday on news of a deal between six major powers and Iran, though oil edged higher later.

"[Iran] will only add to the oil glut on the market and increase the selling pressure," wrote Naeem Aslam, chief market analyst at Ava Trade.

Related: Landmark deal reached on Iran nuclear program
The details of how sanctions will be lifted is not yet known. Some critics in Congress want to keep U.S. sanctions in place, but President Obama has vowed to veto any such efforts. And even if U.S. sanctions do stay in place for a while, the flow of Iranian oil to Europe will push down prices in global oil markets.
Related: Oil prices to dive again
Iran could add as much as 500,000 barrels of oil per day to worldwide markets by the end of this year, according to experts at a recent Credit Suisse conference on Iranian sanctions and oil. The International Energy Agency estimates Iran could add as much as 800,000 barrels a day months after sanctions are lifted. Another 30 million barrels of Iranian crude are estimated to be in storage and ready for sale, according to FACTS Global Energy, an industry consultancy.
Related: Oil prices volatile after Iran nuclear deal
The average gas price at U.S. stations is now $2.78 for a gallon of regular, according to AAA. Gas prices had fallen below $2 at most U.S. gas stations this past winter.
Even without Iranian oil, global production has been booming. North America, OPEC nations and record production from Russia and Iraq have been adding to a glut of oil on world markets. Economic problems in Europe and China also are curbing demand.
Kloza said Iran will add even more oil to the markets in 2016 as it improves its oil industry's infrastructure, which has suffered under the sanctions.
Related: At war with ISIS, Iraq is pumping more oil than ever

http://money.cnn.com/2015/07/14/news/economy/2-gas-iran-nuclear-deal/index.html

[Blake]

Eh, we'll see. I wouldn't be surprised if we're at $3 by Thanksgiving

[boutons_deux]

nah, BigOil, like it has since the world price cratered 6,7 months ago, will keep US gas well above $2. Just paid $2.57 regular vs $1.75 a few months ago, and price of oil hasn't increased 45%.

[boutons_deux]

btw, Saudi Arabia selling bonds, need money, to keep its spending on track.

[TheSanityAnnex]

nah, BigOil, like it has since the world price cratered 6,7 months ago, will keep US gas well above $2. Just paid $2.57 regular vs $1.75 a few months ago, and price of oil hasn't increased 45%.
Lol I'm paying $4.45

[TeyshaBlue]

Filled the rental @$2.39 this morning.

[DarrinS]

Meh, we get most of our oil from domestic supply or from Canada/Mexico, tbh

[m>s]

Boutons is such a communist agitator. USA page less for our gas than most other countries.

[boutons_deux]

Meh, we get most of our oil from domestic supply or from Canada/Mexico, tbh

then why is US gasoline so dependent on the WORLD price of oil?

[m>s]

Because our suppliers will sell to a hugger bidder or charge us more if the global price rises.

[Fabbs]

nah, BigOil, like it has since the world price cratered 6,7 months ago, will keep US gas well above $2. Just paid $2.57 regular vs $1.75 a few months ago, and price of oil hasn't increased 45%.
While i agree i will believe it when i see it ($2 gas which means 2.75 in CA :rolleyes )

OTOH remember when George BUllSHit brought it down to under two the last month or two of his Depression Era attempt to keep the Repugs in office late 2008? Will the Demos similarly make sure it comes way down just for the vote? Then again they did not in 2012 or did they?

[CosmicCowboy]

then why is US gasoline so dependent on the WORLD price of oil?

Oil is a global commodity drilled, produced, and refined by global companies, dumb shit.

[Fabbs]

Oil is a global commodity drilled, produced, and refined by global companies, dumb shit.
Let me know when you want another cup of coffee.

"These documents say point blank, look if you really want to boost your profits, you have to reduce refinery capacity," said Sen. Wyden. "This industry went to great lengths to limit refinery capacity, control markets, restrict supply to boost their profits, increase costs to consumers, and then argue we should relax environmental laws."

[Fabbs]

Oil is a global commodity drilled, produced, and refined by global companies, dumb shit.
I'll serve them a cup at a time.

A year later, an official at Texaco, in a memo marked "highly confidential," called concerns about too much refinery capacty "the most critical factor" facing the refinery industry - resulting in "very poor refining financial results."

[Blake]

While i agree i will believe it when i see it ($2 gas which means 2.75 in CA :rolleyes )

OTOH remember when George BUllSHit brought it down to under two the last month or two of his Depression Era attempt to keep the Repugs in office late 2008? Will the Demos similarly make sure it comes way down just for the vote? Then again they did not in 2012 or did they?

Gas was mid-high $3 in early 2012 and then dipped below $3 right before election....if I recall

[Wild Cobra]

Gas may only dip a few cents when the Iranian oil first starts to flow again, but by September drivers could see big savings.

"Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month," said Tom Kloza, chief oil analyst with the Oil Price Information Service. "By December a lot of places are going to see gasoline at $2 or less."
Iran hasn't been able to sell oil to the United States since 1995. Most major Western countries imposed sanctions within the last five years aimed at curbing Iran's nuclear program. Instead it's been selling to China, India, Turkey and other developing markets.
Crude oil and gasoline prices were both initially lower Tuesday on news of a deal between six major powers and Iran, though oil edged higher later.

"[Iran] will only add to the oil glut on the market and increase the selling pressure," wrote Naeem Aslam, chief market analyst at Ava Trade.

Related: Landmark deal reached on Iran nuclear program
The details of how sanctions will be lifted is not yet known. Some critics in Congress want to keep U.S. sanctions in place, but President Obama has vowed to veto any such efforts. And even if U.S. sanctions do stay in place for a while, the flow of Iranian oil to Europe will push down prices in global oil markets.
Related: Oil prices to dive again
Iran could add as much as 500,000 barrels of oil per day to worldwide markets by the end of this year, according to experts at a recent Credit Suisse conference on Iranian sanctions and oil. The International Energy Agency estimates Iran could add as much as 800,000 barrels a day months after sanctions are lifted. Another 30 million barrels of Iranian crude are estimated to be in storage and ready for sale, according to FACTS Global Energy, an industry consultancy.
Related: Oil prices volatile after Iran nuclear deal
The average gas price at U.S. stations is now $2.78 for a gallon of regular, according to AAA. Gas prices had fallen below $2 at most U.S. gas stations this past winter.
Even without Iranian oil, global production has been booming. North America, OPEC nations and record production from Russia and Iraq have been adding to a glut of oil on world markets. Economic problems in Europe and China also are curbing demand.
Kloza said Iran will add even more oil to the markets in 2016 as it improves its oil industry's infrastructure, which has suffered under the sanctions.
Related: At war with ISIS, Iraq is pumping more oil than ever

http://money.cnn.com/2015/07/14/news/economy/2-gas-iran-nuclear-deal/index.html

And if you believe this drivel, I have a bridge I'll sell you.

$2.00...

No way.

[Wild Cobra]

Oil is a global commodity drilled, produced, and refined by global companies, dumb shit.

True.

If we buy from Iran or not doesn't matter. It doesn't change the global supply and demand equation.

[ChumpDumper]

And if you believe this drivel, I have a bridge I'll sell you.

$2.00...

No way.All depends on the Saudis.

[Blake]

And if you believe this drivel, I have a bridge I'll sell you.

Is this bridge on a flaglot

[Wild Cobra]

Is this bridge on a flaglot

I see you don't know what a flag lot is. If you did, you wouldn't ask such a stupid question.

[Blake]

I see you don't know what a flag lot is. If you did, you wouldn't ask such a stupid question.

I'll bet you my ocean front property in Arizona I do derpderpderp.

Jeez you can't even keep up with your own zingers from yesterminute

[Wild Cobra]

derpderpderp.

Have you had that speech impediment for long?

[Blake]

Have you had that speech impediment for long?

that's my imitation of Cobraspeak

[m>s]

Cuck vs kike

[Blake]

Cock vs mohel

Amirite

[Wild Cobra]

that's my imitation of Cobraspeak

I see you have a hearing impediment as well...

[Blake]

I see you have a hearing impediment as well...

Uh this is a messageboard

[Wild Cobra]

Uh this is a messageboard

Yep.

So how does your unintelligible text apply?

Had to be your impediment and not mine, translated to text, since you can't hear me...

[Blake]

Wut does that have to do with hearing

[m>s]

Cock vs mohel

Amirite
I'm sorry for your loss sir, I only make fun of you for things that are actually controllable. I do have a moral code.

[boutons_deux]

Oil below $50, but gas in SA is still well above $2.

[Slutter McGee]

Oil below $50, but gas in SA is still well above $2.

Summer blends and higher demand during the summer increase the cost of gasoline. This combined with supply shifts due to refinery issues here in Texas means higher prices.

Slutter McGee

[boutons_deux]

Summer blends and higher demand during the summer increase the cost of gasoline. This combined with supply shifts due to refinery issues here in Texas means higher prices.

Slutter McGee

"refinery issues" :lol ... of shitty maintenance, delayed maintenance, under-investment always INCREASE BigOil's profits by limiting supply.

[Slutter McGee]

"refinery issues" :lol ... of shitty maintenance, delayed maintenance, under-investment always INCREASE BigOil's profits by limiting supply.

Hate to tell you this boutons, but oil companies don't delay maintenance and under invest to create a supply shortage. That would be stupid.

Slutter McGee

[boutons_deux]

Hate to tell you this boutons, but oil companies don't delay maintenance and under invest to create a supply shortage. That would be stupid.

Slutter McGee

shortages make the price go up, Slut, like your head up your ass.

[Slutter McGee]

shortages make the price go up, Slut, like your head up your ass.

Price increases DO NOT = Profit increases. Christ, any 12 year old with a lemonade stand understands this.

Slutter McGee

[TeyshaBlue]

"refinery issues" :lol ... of shitty maintenance, delayed maintenance, under-investment always INCREASE BigOil's profits by limiting supply.

Refineries go boom when maintenence is shitty or delayed...so, no. Oil companies dont like exploding refineries.

[boutons_deux]

running refineries and pipelines until they break is a "moral hazard". The spike in prices due to decreased supply, the longer the betters, covers the cost of fixing their shit.

[TeyshaBlue]

Unlike you, I've actually worked in refineries. There is no moral hazard argument to be made as it is extremely poor business to grenade a plant.

The Cosden refinery explosion in 08 didnt move the price a penny...but it was expensive as hell.

[TheSanityAnnex]

"refinery issues" :lol ... of shitty maintenance, delayed maintenance, under-investment always INCREASE BigOil's profits by limiting supply.
For fucks sake are you really this stupid?

[baseline bum]

Refineries go boom when maintenence is shitty or delayed...so, no. Oil companies dont like exploding refineries.

Well, other than BP.

[TeyshaBlue]

Which refinery is that BB?

[TeyshaBlue]

I think BP's tab is at 58 billion and climbing...so it probably won't be a big profit booster. :lol

[boutons_deux]

I think BP's tab is at 58 billion and climbing...so it probably won't be a big profit booster. :lol

pocket change. BP lives to fuck us all again. much of it is taxpayer financed.

[TeyshaBlue]

Shit take.

[baseline bum]

Which refinery is that BB?

Their negligence in Texas City makes it seem like they weren't too worried about it. I get that shit happens once in a while, but it's over and over again with BP.

[boutons_deux]

Shit take.

TB :lol shithead

The good news for BP

Long payout schedule means cost savings

When does $18.7 billion actually equal $9.16 billion? When it’s paid over 15 to 17 years. While the exact present day value of the total payout is subject to some interpretation, it will certainly equal less than $18.7 billion in 2015 dollars by the time all the checks are written. As any economics student will tell you, money loses value over time. One way economists measure this depreciation is by using what’s known as a discount rate, which allows them to calculate the value of future income and expenses in terms of present day dollars.

The economic policy team at the Center for American Progress examined the settlement’s payout structure and applied a variety of discount rates. When using a very conservative discount rate of 3.1 percent—the same rate used by the White House Office of Management and Budget for public sector projects—offset by accrued interest, the net present value of BP’s financial restitution will equate to approximately $15.43 billion. Meanwhile, in BP’s own annual report, it uses a discount rate of as much as 12 percent—indicative of the rate of return the company estimates it can earn on money invested in its business today. Applying this rate to the settlement’s payment plan puts the cumulative toll on BP at just $9.16 billion. That discounted total is still a lot of money for economic and environmental restoration in the Gulf, but an amount BP could cover while still remaining in the black considering the $12 billion in profits the company pocketed in 2014 alone.

BP will pay interest at well below market rates

Even a company as profitable as BP would not be able to simply write a check to cover a 10-figure settlement; the company was always going to have to figure out a payment plan. As previously mentioned, this deal includes a payout structure that will last 15 to 17 years. As a result, BP will have to finance what amounts to a 15 to 17 year mortgage.

Because the damage had already been done in this case, the U.S. government would have been within its rights to demand payment upfront, forcing BP to borrow money from markets by taking a loan from a bank or issuing stocks or bonds.

Instead, the parties agreed to an extended payment plan at an annual interest rate of slightly less than 1 percent over the life of the settlement. By comparison, in BP’s most recent long-term bond sale, markets demanded an interest rate of just more than 3.5 percent for $1 billion in bonds that come due in 10 years. An $18.7 billion settlement, which would require a much larger loan with a longer payback time, would almost certainly have demanded a higher interest rate. Thus, as structured, the settlement results in massive savings for BP relative to the cost of being forced to pay the settlement upfront. Conservatively, these savings are equivalent to the difference between the less than 1 percent interest BP is paying out and the 3.5 percent or more that the market would have demanded. CAP’s economists have calculated that in sum, this amounts to a savings of more than $2 billion. That may be one reason the overall settlement number is so large: BP may have been willing to settle for a slightly larger amount since the terms of the deal included a lower interest rate.

https://www.americanprogress.org/issues/green/report/2015/07/30/118316/the-true-value-of-bps-18-7-billion-settlement/

very soft, forgiving payout.

[Fabbs]

And if you believe this drivel, I have a bridge I'll sell you.

$2.00...

No way.
Where is your for sale bridge?
6 states at present.
4 more under $2.10

[ChumpDumper]

Where is your for sale bridge?
6 states at present.
4 more under $2.10:lol didn't even need the Iranians.

[El Chorizo]

$1.92 @ gallon.

[Wild Cobra]

I suspect it is from the oil that was being horded, to drive up prices, and that it is a bubble that burst. Something similar to this:



The volume of refined fuel stored on ships floating at sea has jumped nearly 71 percent since early April, industry sources said on Thursday.

About 41 million barrels of gas oil and jet fuel were being stored in tankers mostly off Europe's coast, up from around 24 million barrels in April, sources said.

Crude has rallied to a seventh-month high on optimism the economy would soon improve, despite the continued build in storage.

The demand for ships to store fuel has boosted freight rates for the Long Range 2 tankers mostly being used, shipbrokers said. The tankers can hold between 600,000 and 1 million barrels.


http://www.businessinsider.com/oil-stored-on-tankers-is-up-71-since-april-2009-6

Supply and demand...

Too much more supply than the demand supports. A lost gamble for investors.

[ChumpDumper]

I suspect it is from the oil that was being horded, to drive up prices, and that it is a bubble that burst.What makes you think that is the case and not the increased production from both domestic and foreign sources?

[Wild Cobra]

What makes you think that is the case and not the increased production from both domestic and foreign sources?

I don't think it's as much as increased production as it is less demand. You might be right, but seems to me our production is close to the same rate of increase as population.

[Splits]

And if you believe this drivel, I have a bridge I'll sell you.

$2.00...

No way.

:lmao couldn't be more wrong if he tried

What a faggot.

[Fabbs]

7 states now.
2.004 in Virgina or they would make 8

[Aztecfan03]

The lowest near me is $2.67

[TeyshaBlue]

$1.74 this morning.

[boutons_deux]

$1.74 this morning.

where?

I haven't seen that since last Jan/Feb. Was still 1.90+ at Costco/UTSA last night.

[TeyshaBlue]

Walmart/Murphy in North Richland Hills. $1.72 this morning.

[pgardn]

For those of you who forget what happens in a democracy:

http://www.haaretz.com/israel-news/.premium-1.681918?utm_source=dlvr.it&utm_medium=twitter

Making Benji look a fool

Now think about which countries expect this kind of information from government agencies and expect it to be made public... Even if it makes the leading politicians look bad.

[Fabbs]

And if you believe this drivel, I have a bridge I'll sell you.

$2.00...

No way.
41 states now under 2 bucks.
http://www.fuelgaugereport.com/

[Fabbs]

With Thanksgiving In The Rearview, National Average Eyes $2 Mark.
Lowest Thanksgiving day price since Depression Era Bush in 2008.

Barry continuing to kick ass.

[MultiTroll]

Some stations are selling gas for less than $1.50 a gallon

In some gas stations around the country, the price of a gallon of regular has dropped below $1.47. AAA and GasBuddy, two organizations that follow gas prices, say that gasoline prices below $2 will be routine around the United States. As oil prices fall, and refinery capacity stays strong, the price of gas could reach $1 a gallon, a level last reached in 1999.

http://www.msn.com/en-us/money/markets/some-stations-are-selling-gas-for-less-than-dollar150-a-gallon/ar-BBo3tp6?ocid=spartandhp

[CosmicCowboy]

With Thanksgiving In The Rearview, National Average Eyes $2 Mark.
Lowest Thanksgiving day price since Depression Era Bush in 2008.

Barry continuing to kick ass.

:lmao

Barry would fucking love $5 gas.

[ChumpDumper]

:lmao

Barry would fucking love $5 gas.Why?

[DMX7]

It's shocking to see regular gas at near $1.70 in some San Antonio area stations.

[DMX7]

Why?

Because high gas prices supposedly speed up the transition to electric powered vehicles.

[ChumpDumper]

Because high gas prices supposedly speed up the transition to electric powered vehicles.That alternative ball is already rolling and nothing is going to stop it.

The fact that all the producers are keeping as many wells running as possible just signals a final push for market share I don't see changing.

[boutons_deux]

Because high gas prices supposedly speed up the transition to electric powered vehicles.

it's not "shocking" but disappointing.

carbon taxes are the way to go, on all carbon stuff, including transport fuel.

The switch of non-carbon energy for cars will be massively disruptive as soon as we get further down the development path, and new physics, materials, engineering for energy storage open up. Carbon fuel's future is as dead as Repug and white male Christian demographic hopes.

[DMX7]

it's not "shocking" but disappointing.

carbon taxes are the way to go, on all carbon stuff, including transport fuel.

The switch of non-carbon energy for cars will be massively disruptive as soon as we get further down the development path, and new physics, materials, engineering for energy storage open up. Carbon fuel's future is as dead as Repug and white male Christian demographic hopes.

It's shocking and disappointing that prices are that low. We've been waiting for the battery breakthrough which is the major bottleneck... how much longer are we going to be waiting?

[CosmicCowboy]

Why?

Because low carbon prices make it harder for alternatives to be economically feasible.

[DMX7]

Because low carbon prices make it harder for alternatives to be economically feasible.

lol, you're late

[Winehole23]

prices of wind energy, solar energy and battery storage keep dropping. investment in the same keeps rising, in no small part because rich countries can afford it and dislike the economic externalities.

alternative energy faces headwinds for sure, but the writing is on the wall: solar, wind and batteries will be more competitive. they've already come a long way in a short time.

[hater]

This has little to do with Iran so far. It's mostly Saudi increasing output 9 months ago and continuing. Sure it was probably part in anticipation to the Iran deal but also due to Russia, US drilling, alternative energies, etc. Saudi just trying to keep hold of the market by squeezing everyone out.

Sad thing is Saudi did not expect Russia to bail Assad out and Yemen conflict to get so complicated. Now they face war in multiple fronts, 100 billion deficits and no sign of flinch bye either Iran or Russia. Rookie mistake by rookie imperialists.

[CosmicCowboy]

This has little to do with Iran so far. It's mostly Saudi increasing output 9 months ago and continuing. Sure it was probably part in anticipation to the Iran deal but also due to Russia, US drilling, alternative energies, etc. Saudi just trying to keep hold of the market by squeezing everyone out.

Sad thing is Saudi did not expect Russia to bail Assad out and Yemen conflict to get so complicated. Now they face war in multiple fronts, 100 billion deficits and no sign of flinch bye either Iran or Russia. Rookie mistake by rookie imperialists.

Saudi's did not increase production significantly. They simply refused to be the one to unilaterally cut production to support the price of oil like they have historically done.

[hater]

They increased by 1.5 million barrels a day. That's OPECS entire increase as well. Thats significant

[CosmicCowboy]

No they didn't. Production barely changed from 2012 to now. They have always had some monthly fluctuation.

[hater]

um no

Saudi Arabia increased its exports of oil during October, shipping out more crude than it had in the previous four months, aggravating a supply glut that has severely depressed oil prices and revenues to oil producers.

Crude exports from Saudi Arabia rose from an average of 7.111 million barrels per day in September to 7.364 million per day in October, according to the latest data from the Joint Organizations Data Initiative (JODI), which monitors the oil industry. The report said this quantity was the most oil exported from Saudi Arabia since June and 7 percent higher than in October 2014.

http://oilprice.com/Energy/Crude-Oil/Saudi-Arabia-Continues-to-Ramp-Up-Oil-Output-in-Face-of-Market-Glut.html

Oil price benchmarks hit their lowest in seven years as Saudi Arabia continues its oversupply and as Iran prepares for a production increase.

Saudi Arabia and its allies in the Organization of the Petroleum Exporting Countries have been the main force behind the plunging of the oil price as they continue to oversupply the market with crude oil in a bid to push the high-cost shale oil productions, mainly in the U.S., out of the market.
http://www.telesurtv.net/english/news/Oil-Prices-Near-11-Year-Low-amid-Saudi-Oversupply-20151214-0009.html

[hater]

Saudi Arabia's Economic Time Bomb

The Kingdom's unveiled budget for 2016 predicts a deficit of SR 326 billion ($87 billion). Projected spending is expected to reach 840 billion riyals ($224 billion) and revenue at 513 billion ($137 billion). The largest single allocation in the budget was 213 billion riyals ($56.8 billion) to the military and security services, comprising more than 25 percent of the total - a much higher allocation than that of 2015 budget. The allocation to the military and security services clearly indicate the Kingdom's prioritises 'guns over butter' in terms of consolidating its grip on power despite growing regional tensions.

The rapid depletion of Saudi's foreign exchange funds is rather alarming. During 2015, the Kingdom's central bank reserves have dropped from $732 billion to $623 billion in less than 12 months. Based on current levels of spending and deficit, and assuming budget priorities remain static, with oil market conditions to stay unchanged, and regional tensions do not escalate, their reserves give them a fiscal buffer of five years at best.

To make matters worse, Saudi Arabia will have to compete with aggressive oil production plans projected by Iraq and Iran. This will undoubtedly glut the market with further oversupplies of 3 million barrel a day. If this unsustainable financial decline continues at its present rate, the dollar exchange rate to the riyal will be endangered and the government will not be able to keep the peg. This may have serious ramifications on the U.S. dollar if other Gulf Cooperation Council countries follow suit.

However, the 'mother of all problems' facing the nation is not a growing budget deficit, regional terrorism and sectarian tensions but the growing and endemic youth unemployment that continues to endanger Saudi Arabia's national security. Saudi Arabia needs to increase public-private sector cooperation to absorb millions of unemployed youth and avoid rendering them to the abyss of terrorism or civil unrest.

http://www.huffingtonpost.com/luay-al-khatteeb/saudi-arabias-economic-ti_b_8894100.html

[TDMVPDPOY]

so why isnt the USA going towards ethanol fuel instead of relying on these turban fuckers for fuel?

cheaper then looking for oil to drill
have excess farm land, instead of growing shit and food dumping them as exports, why not grow the shit that makes the ethanol and no waste....

[boutons_deux]

??
so why
isnt the USA going towards ethanol fuel instead of relying on these turban fuckers for fuel?

1. there isn't enough arable land to grow enough corn for ethanol

2. growing corn also pollutes air, land, water with x-icides

3. even if there were enough land, the corn requires lots of water EVERY YEAR (droughts aren't permitted) which appears to be less and less available from precipitation, and ancient reservoirs like Ogallala are severely pumped down.

3. "Recent work indicates that only energy sources extracted at EROIs of 3:1 or greater have the requisite net energy to sustain the infrastructure of the transportation system of the United States. In light of this work, we conclude that

production of corn ethanol within the United States is unsustainable and requires energy subsidies from the larger oil economy."

http://link.springer.com/article/10.1007/s10668-010-9255-7

iow, the BigAg promoters of corn ethanol were LYING when lobbying to get US govt to mandate ethanol in gasoline. Also, the corn ethanol promoters were LYING that corn ethanol would reduce US dependence on foreign oil. Even with fracking oil boom, USA is still dependent on importing foreign oil (and soon even as we export crude).

[TDMVPDPOY]

desalination plant solves ur drought woes and irragation for farmers...do it

[boutons_deux]

desalination plant solves ur drought woes and irragation for farmers...do it

desal is providing 40% if Israel's water. The Gulf Arabs are big on desal

As always in USA, California is out front with both desal plants and water reclamation (recycling) for semi-desertic SoCal.

There's a lot of research, mostly involving nano-tech, on desal, esp reducing the thickness of and therefore the power required to push salt water through desal membranes.

San Antonio electrical and water utilities are looking at desal of brackish ground water, not desal of seawater.

http://newsroom.cpsenergy.com/joint-desalination-power-plants/

San Antonio water is blowing $2.5B on a 142-mile pipeline to move groundwater to San Antonio.

The contractor will be stuck with the suits from and compensation to Vista Ridge area people whose wells have to be deepened to reach a depleted aquifer.

http://www.saws.org/your_water/waterresources/projects/vistaridge/

[boutons_deux]

I heard a 55-gal steel drum cost more than the oil in it. :lol

[SpursforSix]

I heard a 55-gal steel drum cost more than the oil in it. :lol

Just BigSteel shoving it down the throats of human Americans and making us overpay for something that should be free. Am I right?

[boutons_deux]

In Canada, the 8-Dollar Cauliflower Shows the Pain of Falling Oil Prices


http://www.nytimes.com/2016/01/21/business/dealbook/in-canada-5-cauliflowers-cost-more-than-a-barrel-of-oil.html?partner=rss&emc=rss&_r=0

[TheSanityAnnex]

In Canada, the 8-Dollar Cauliflower Shows the Pain of Falling Oil Prices


http://www.nytimes.com/2016/01/21/business/dealbook/in-canada-5-cauliflowers-cost-more-than-a-barrel-of-oil.html?partner=rss&emc=rss&_r=0

Cauliflower reached 7 dollars a head here in the States. The industry was in an "act of god" state. Temperatures were too cold to harvest and also drastically slowed the crop growth.

[SpursforSix]

Cauliflower reached 7 dollars a head here in the States. The industry was in an "act of god" state. Temperatures were too cold to harvest and also drastically slowed the crop growth.

Who the hell likes cauliflower enough to pay that? It's one of the sparest vegetables imo.

[InRareForm]

pesticide residue in cauliflower, no thank you

[TheSanityAnnex]

pesticide residue in cauliflower, no thank you
Do you grow your own cauliflower? Store bought organic has pesticides as well.

[TheSanityAnnex]

Who the hell likes cauliflower enough to pay that? It's one of the sparest vegetables imo.
I don't. I just cancelled some asparagus at the checkout line after it rang up $5.50 for some little pencildick stalks

[RandomGuy]

True.

If we buy from Iran or not doesn't matter. It doesn't change the global supply and demand equation.

Hmm. My understanding is that the Iranians have had a hard time finding buyers for all their oil, and have had to sell it for cheap.

They anticipate ramping up production, so yes, it will change the equation.

[boutons_deux]

old, but relevant

What sanctions? Top five countries buying oil from Iran.

http://www.csmonitor.com/World/Middle-East/2012/0217/What-sanctions-Top-five-countries-buying-oil-from-Iran/China

some countries have been exempted from sanctions all along

"Only six buyers are still allowed to take crude from Iran - - China, India, Japan, South Korea, Turkey and Taiwan -- down from 21 before the restrictions went into effect in mid-2012."

http://www.bloomberg.com/news/articles/2014-06-12/growing-iran-oil-exports-challenge-u-s-nuclear-sanctions

Israel has also been buying oil from Iran.

[boutons_deux]

Schlumberger CEO “optimistic” job cuts are over after 34,000 slashed

The chairman and CEO of Schlumberger said Friday he is “optimistic” the world’s largest oil field services company is done eliminating jobs now that it has cut 34,000 positions — more than 25 percent of its global workforce.

Schlumberger posted a nearly $1 billion net income loss during the fourth quarter (http://fuelfix.com/blog/2016/01/21/schlumberger-cut-thousands-of-jobs-in-fourth-quarter-on-1-billion-loss/#36089101=0) and a 60 percent net income decline for all of 2015 from the prior year.

Chairman and CEO Paal Kibsgaard warned of a “very challenging” 2016 as exploration and production companies continue to drastically slash their drilling programs, but he also explained that Schlumberger is poised to rebound in 2017.

http://fuelfix.com/blog/2016/01/22/schlumberger-ceo-optimistic-job-cuts-are-over-after-34000-slashed/#36089101=0

[boutons_deux]

Russians’ Anxiety Swells as Oil Prices Collapse


Last year was bad enough financially for Sergei and Victoria Titov, both music teachers getting along in years. Her government salary was slashed by one third, and rampant inflation put some basic groceries like eggplant and cucumbers out of reach.

Then came Jan. 1, and the abrupt decision by the regional government here in Krasnodar, the capital of Russia (http://topics.nytimes.com/top/news/international/countriesandterritories/russiaandtheformersovietunion/index.html?inline=nyt-geo)’s southern agricultural heartland, to chop transportation subsidies for older Russians, forcing the couple to limit their trolley rides.

Indignant and fearing worse amid Russia (http://topics.nytimes.com/top/news/international/countriesandterritories/russiaandtheformersovietunion/index.html?inline=nyt-geo)’s accelerating economic problems, Sergei joined an unauthorized demonstration last week by hundreds of older Russians who gathered under the bronze statue of a Cossack horseman on the main square here and chanted, “Return our benefits!”

They were not alone, neither in Krasnodar nor across this vast nation, where illegal protests and wildcat strikes are erupting with increasing frequency by truckers (http://www.nytimes.com/2015/12/05/world/europe/russian-truckers-protest-tolls.html), teachers, factory workers and all sorts of Russians facing steep government cutbacks because of plummeting revenue from oil and gas (http://www.nytimes.com/2016/01/23/world/europe/russians-anxiety-swells-as-oil-prices-collapse.html).

The global collapse in oil prices (http://www.nytimes.com/interactive/2016/business/energy-environment/oil-prices.html) is reordering economic relations around the world, but the change is particularly daunting for Russia, which relies on energy exports for 50 percent of its federal budget (http://topics.nytimes.com/top/reference/timestopics/subjects/f/federal_budget_us/index.html?inline=nyt-classifier).

In December, President Vladimir V. Putin told the nation (http://www.nytimes.com/2015/12/18/world/europe/vladimir-putin-russia.html) that the worst of the recession — the economy shrank 3.9 percent and inflation hit 12.9 percent in 2015 — was over and that modest growth would return in 2016. He has been pushing the oil collapse as an “opportunity” that will wean Russia off energy imports and diversify the economy.

Then in January oil fell below $30 per barrel, with no bottom in sight, and the ruble hit a record low (http://www.nytimes.com/aponline/2016/01/18/world/europe/ap-eu-russia-economy.html) of nearly 85 to the dollar before recovering slightly.

The last time oil prices dropped so low and stayed there, in the 1980s, the Soviet Union disintegrated.

http://mobile.nytimes.com/2016/01/23/world/europe/russians-anxiety-swells-as-oil-prices-collapse.html?_r=0

[Fabbs]

Donny, how come with crude prices dropping gas is staying the same?

Year ago Barry had us at $1.72 average.

[TeyshaBlue]

Not sure if srs.

[boutons_deux]

The BigOil Repugs will not do anything to hold down the price of oil.

Their big prize would be block Iranian oil exports, or do some scary military shit to push up the price of oil, and gold.

Shit, Rexxon Tilllerson is Secy of State

Pootin's BoyToy BFF would love to dump a few $10Bs per year into Pootin's kleptocracy by forcing up the price of oil.

It's all in the Repug/VWRC/BigOil/capitalist strategy of corrupting, polluting, fleecing the planet

[Blake]

The BigOil Repugs will not to anything to hold down the price of oil. Their big prize would be block Iranian oil exports, or do some scary military shit to push the price of oil, and gold.

Shit, Rexxon Tilllerson is Secy of State

Pootin's BoyToy BFF would love to dump a few $10Bs per year into Pootin's kleptocracy by forcing up the price of oil.

It's all in the Repug/VWRC/BigOil/capitalist strategy of corrupting, polluting, fleecing the planet

Can anyone translate

[TeyshaBlue]

Unpossible

[Thread]

Can anyone translate

Yes:::He can dish it, but, he can't take it.