Bye-bye Skippy. Let gas prices continue to rise!

[Gavin Mesner]

There is a nw refinery to be built in Montana to process Canadian Oil. The NIMBY's stayed out of that one, but still will be 5 years before its online.

I've heard the Canadians figured out a way of extracting the oil from the Tar Sands.

 

[MARK JOLLIFF]

I've heard the Canadians figured out a way of extracting the oil from the Tar Sands.

They have known for a while. the problem is it's expensive and starts to make sense now with gas at $4. Also it take a large amount of energy to convert it to oil.

 

[Couch Potato]

It's only a matter of time before we creep above $5 a gallon... and if the economist are correct, $7 might be possible by the end of summer. Although it hurts all of us, the AMC's are going to have bend. The skippy's can't afford to do the work for their current fees when the gas prices don't cover the bottom dollar when an appraisal is completed. Come on oil prices... keep rising!

What makes you think Skippy uses any gasoline when doing an appraisal?

 

[Deuce of Spades]

Europeans have been paying 6 to 7 dollars a gallon for years...It's time to wake up and smell the oil fields drying up...Peak oil is here to stay. Brazil runs almost all there cars with ethanol from sugar cane. There are alternatives. BTW, the oil fields in Alaska would take 10 to 15 years to reach the system...remember, we don't have the capability to refine any extra oil...how convenient

BIO-FUELS - been around for a long time just ignored. there are plenty of renewable sources - the oil men just don't want them moving forward bc it will cost them money.

My husband was a diesel mechanic and was helping out a buddy that has a shop in Gainseville. They have a trucker - talking big rig - that runs strictly on recycled veggie oil. Requires a new fuel pump every couple of months but he is making it work and making money. There are choices out there - this one is extreme but the ability is there.

 

[Alison Swain]

there is a 1.5M acre patch of land in Alaska (365M acres total) that sits on 16 billion barrels of oil.

U.S. Department of Interior - 1987. After several years of surface geological investigations, aeromagnetic surveys, and two winter seismic surveys (in 1983-84 and 1984-85), the U.S. Department of Interior (DOI), in its April, 1987 report on the oil and gas potential of the Coastal Plain, estimated that there are billions of barrels of oil to be discovered in the area. DOI estimates that "in-place resources" range from 4.8 billion to 29.4 billion barrels of oil. Recoverable oil estimates ranges from 600 million barrels at the low end to 9.2 billion barrels at the high end. They also reported identifying 26 separate oil and gas prospects in the Coastal Plain that could each contain "super giant" fields (500 million barrels or more).


And we didn't even get into the huge amounts of natural gas. :Eyecrazy:

For those that discount this by wringing their hands over it taking 10-12 years, it was 1995, I believe, when Clinton vetoed the bill that would have allowed drilling there (and made the argument that it would be 12 years before wells were up and running). 13 years later...........here we sit.

 

[Blue1]

Unfortunately our refining capacity is at its limit due to environmental retulations and 'nimby' issues. Even a scheduled maintenance of 1 refining plant can cause price spikes.

North Dakota (Bakken Play area) has a reported 100 billion barrel potential that with higher prices and newer technology make retreiving it viable. The 'offical' government estimate is 4.8 billion barrels which is considered ridiculously conservative and based on old oil prices.

http://www.energyandcapital.com/aqx_p/5157?gclid=CODl7uW79JMCFSEbagodF2SGWQ

The new USGS study estimates a whopping 3.65 billion barrels of oil in the Bakken... but here's what they didn't mention:

The reported 3.65 billion barrels of oil mean estimate is for 'undiscovered' oil only, and doesn't include known oil, such as reserves.

In fact, the study reports a 25-fold increase in the amount of oil that can be recovered... compared to the agency's estimate back in 1995.

Discovered over 50 years ago, the Bakken deposit--once impossible to extract--is now being hailed as the single largest oil find in US history.

That's because, today, thanks to breakthrough drilling techniques like horizontal drilling, the Bakken's oil shales can be extracted relatively cheaply.

Back on topic...There will always be Skippies until the whole lending system is overhauled.

 

[Ms. Janet]

I've taken to eating cat food on the road. The "Savory Ocean" is to die for...:icon_mrgreen:

 

[jtinmichigan]

I just got a call from an AMC. I listened to her
speech for about 30 seconds until she said
appraisers get 55% of the fee for the first
10 appraisals......<CLICK>

thats o.k. with me........single family 1004...............$800. I need a raise anyways...................

 

[Truett Neathery]

Big wheels rollin'

A good friend of mine who works for one of the largest trucking companies in the USA told that his company has already told their employees that once the price of diesel fuel hits $5.50 they are going to shut down the business.

This is a trucking company that has between 1,500 and 2,000 trucks on the road all over the country.

This whole problem with fuel and it's high costs is about to get real interesting to see what happens next.

How many things in your home were never on a truck at one time or another going somewhere?

I really don't know how they do it now with 600 gallons of diesel fuel costing over $3,000 dollars to fill just one truck.


Big trucks already have stopped rolling in Espanya - truckers (gyppos, mainly) parked on the toll road and shut down everything last week. The price of gas and diesel fuel is just the tip of the iceberg, though, considering what all petroleum is used for: Asphalt, cement, fertilizer, pesticides, paint, clothing (youse guy's polyester leasure suite you wear to appraiser conventions), medicines, tires, conveyer belts, jet fuel. Look around you - everything has a petro component or was delivered using petroleum. Corn alky and bean diesel can't be used for that stuff either, no matter what the ag lobby tells us (not me, though) when they go fishing for earmarks.

What happened to the corn - beans production last week in the flooded fields of the heartland?

When I got out of the refinery building industry in 1976 it was because no new refineries were in the pipeline (not a pun). The ones we built back then are the poorly-maintained ones that are blowing up now, after they were sold to Brits or soverign funds who pocketed the maintenance budget and bought Lamborginis.
TN

 

[Terrel L. Shields]

if the economist are correct, $7 might be possible by the end of summer.

Is that the same Economist that wrote in 2002 that Natural gas would be $2.80 a MCF in 2012 and oil would be $28?...

I've taken to eating cat food on the road.

Too greasy. Bolo Dog Food is cheapest - made from chicken since they shut down the horse plants. Dollar General has $1 ham salad, Vienna sausages, potted meat. It's cheaper than dog food...gives you an idea what is in it right?

think Washington will have to figure out what to do next

They've been really great at fixing things so far.

There are oil rigs in school yards is some parts of the country, so why not in W's backyard

Texas "School lands" fund most of the state's education.

The effect of 16 million barrels will be minimal.

B but...if ANWR can produce "only" a 6 mo. supply of oil to the U. S. Then it can replace 5% of the oil we import for 10 years.....When Alaska oil came on line in the early 80's after being delayed since 1970 by court actions, it placed enormous pressure on imported oil and oil prices dropped significantly. As one of my old oil company buddies put it, "I send Greenpeace money to stop ANWR because I can't make any money off ANWR. my operation is stateside..." [that is, ANWR will lower domestic prices.]

U.S calls our oil fields and reserves "Startegic Oil Reserves",

You can thank Bill Clinton for selling off a bunch of the Naval Oil reserves to his buddies for a song....nickels on the dollars worth.

Canadians figured out a way of extracting the oil from the Tar Sands

They did that 30 years ago and subsidized the companies doing it during the low price period of the late 80's until this century. That meant when prices came back, the technology was already there and going. In the U. S. Exxon and Shell were axed for trying to develop Shale Oil and left CO with their tails between their legs....so to develop Shale Oil, we have to start basically from scratch and the environmentalists are fighting against it again.