Comments on: Bigger Oil http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html Dispatches from a Small Business Sun, 12 Feb 2012 02:42:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ian Random http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html/comment-page-1#comment-32935 Ian Random Fri, 19 Feb 2010 19:58:40 +0000 http://www.coyoteblog.com/?p=10469#comment-32935 Actually, when the state steals it is called, expropriation. In fact Mexico has a civic holiday to commemorate the theft of the oil refineries where the president gives a speech. Problem is now they need help and their constitution prohibits joint oil ventures, not that anyone would trust them. http://en.wikipedia.org/wiki/Expropriation http://en.wikipedia.org/wiki/Expropiaci%C3%B3n_petrolera Poor link, but I have to leave for work. http://www.encyclopedia.com/doc/1G1-167419195.html Actually, when the state steals it is called, expropriation. In fact Mexico has a civic holiday to commemorate the theft of the oil refineries where the president gives a speech. Problem is now they need help and their constitution prohibits joint oil ventures, not that anyone would trust them.

http://en.wikipedia.org/wiki/Expropriation

http://en.wikipedia.org/wiki/Expropiaci%C3%B3n_petrolera

Poor link, but I have to leave for work.

http://www.encyclopedia.com/doc/1G1-167419195.html

]]> By: Bob Smith http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html/comment-page-1#comment-32589 Bob Smith Fri, 05 Feb 2010 23:47:52 +0000 http://www.coyoteblog.com/?p=10469#comment-32589 <i> The Saudi oil company is actually good at maintaining their equipment and production.</i> The Saudis don't maintain anything. It's all maintained by imported near-slave labor or foreign oil-field servicers. <i>Once things are producing, local government steals it all (they call it “nationalization”)</i> If there's anything we should do with our military, preventing foreign governments from stealing from US people and companies should be high on the list. The Saudi oil company is actually good at maintaining their equipment and production.

The Saudis don’t maintain anything. It’s all maintained by imported near-slave labor or foreign oil-field servicers.

Once things are producing, local government steals it all (they call it “nationalization”)

If there’s anything we should do with our military, preventing foreign governments from stealing from US people and companies should be high on the list.

]]> By: Curtis http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html/comment-page-1#comment-32574 Curtis Fri, 05 Feb 2010 19:34:20 +0000 http://www.coyoteblog.com/?p=10469#comment-32574 Lumping all government oil companies together is misleading. The Saudi oil company is actually good at maintaining their equipment and production. The Venezuelian and Iranian oil companies are incompetent due to political ideology and interference. While governments have a strong tendency to meddle in (and destroy) state owned companies, it is possible for this to be minimized. Lumping all government oil companies together is misleading. The Saudi oil company is actually good at maintaining their equipment and production. The Venezuelian and Iranian oil companies are incompetent due to political ideology and interference.

While governments have a strong tendency to meddle in (and destroy) state owned companies, it is possible for this to be minimized.

]]> By: Texas_Engineer http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html/comment-page-1#comment-32572 Texas_Engineer Fri, 05 Feb 2010 18:33:50 +0000 http://www.coyoteblog.com/?p=10469#comment-32572 anon I think you are right about how the tar sands play out but the full cost (not incremental) of extracting actual oil out of the tar sands is probably higher than $50-80/bbl. That is why Shell announced this week that they are essentially giving up on the tar sands and are going to put their money elsewhere. If the full costs are more like $90-100/bbl then the tar sands will probably never be a significant contributor because the world economy probably cannot tolerate $100 oil. anon

I think you are right about how the tar sands play out but the full cost (not incremental) of extracting actual oil out of the tar sands is probably higher than $50-80/bbl. That is why Shell announced this week that they are essentially giving up on the tar sands and are going to put their money elsewhere. If the full costs are more like $90-100/bbl then the tar sands will probably never be a significant contributor because the world economy probably cannot tolerate $100 oil.

]]> By: anon http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html/comment-page-1#comment-32569 anon Fri, 05 Feb 2010 17:52:30 +0000 http://www.coyoteblog.com/?p=10469#comment-32569 It takes a lot of $$$ to extract oil from oils sands. I'm guessing about $50-80/bbl, depending on the quality of the source. My personal theory is that as oil prices drop, tar sands production drops as the higher-cost production ceases, checking the price drop. As prices go up, they come back on line, checking the price increase. Until consumption increases/decreases to completely take tar sands out of the equation (i.e., practically all-on or all-off), oil will stay in its current narrow band. It takes a lot of $$$ to extract oil from oils sands.

I’m guessing about $50-80/bbl, depending on the quality of the source.

My personal theory is that as oil prices drop, tar sands production drops as the higher-cost production ceases, checking the price drop. As prices go up, they come back on line, checking the price increase. Until consumption increases/decreases to completely take tar sands out of the equation (i.e., practically all-on or all-off), oil will stay in its current narrow band.

]]> By: commieBob http://www.coyoteblog.com/coyote_blog/2010/02/bigger-oil.html/comment-page-1#comment-32567 commieBob Fri, 05 Feb 2010 17:15:25 +0000 http://www.coyoteblog.com/?p=10469#comment-32567 Wiki has it that there are 1.7 trillion barrels in the Canadian oil sands (I think that's more than half the known reserves). Canada is now America's largest oil supplier. Hmm. Wiki has it that there are 1.7 trillion barrels in the Canadian oil sands (I think that’s more than half the known reserves). Canada is now America’s largest oil supplier. Hmm.

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