Massive heat exchanger built to cool downtown Toronto office buildings resulting in 75% energy savings.
http://www.theglobeandmail.com...ronto
World Petro Energy Overview
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texasoil
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lake water cooling?
Let's run a few simple numbers. When complete", the $200 million project will supply energy equivalent to 8000 homes. If total present energy use (cost) for those homes is $3000 per year, then annual 'value' is $24 million. That's about 8% annual return on cost, assuming no operating supplying the cool water.
Eating Oil and Energy Bankruptcy
Crap! Here's another one similar to the previous link. This one gets into mass die offs as the author mathematically demonstrates that present energy inputs, arable land, etc. do not exist in the quantities necessary for humanity to simply "la-di-da" itself through time.
http://www.fromthewilderness.c....html
http://www.fromthewilderness.c....html
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texasoil
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There is no doubt in my mind about a collapse of 'mankind' as we know it. Growing up poor on a farm, and then getting a good education in chemical engineering,including pulp and paper technology, and then working for over 30 years in the energy industry and then thinking a lot about it--it is obvious--there are simply way too many people living on earth today to be sustained. Our 'western' way of life simply requires to much energy--we increase the entropy of the biosphere way too much. My 'back of envelop' estimates are that a total population somewhere around 300 million is sustainable at USA middle class style of life.In excess of that number, the resources of earth are depleted or the 'quality of life' must go down significantly, or our impact on the biosphere must be reduced through renewable or non-fossil fuel energy. An entirely different type of food production must also emerge--one which nurtures bio-diversity and moves away from mass production of a few grains and protein sources (feedlot livestock and fowl). Disvesifying the genetic pool of food stuffs is absolutely essential to our long term survival. Mother Nature continually warns us that 'catastrophe' is normal, and only the time interval between major events is random. We are nearing the end of the 'antibiotic miracle' that began in 1940's, and untreatable infections will once again be a 'grim reaper'. It is a simple and pragmatic conclusion--'bugs' have life cycles that are many times faster than ours, and they will evolve 'survival traits' much faster than we can develop new 'toxins' to control them.
There was a very good science fiction novel some 30 years ago (DEATH WORLD) that paints a frighteningly familiar parallel to our present environment. Nature evolves in many ways to 'combat' mans efforts to control nature ,limit plants, exterminate pests,etc.)
There was a very good science fiction novel some 30 years ago (DEATH WORLD) that paints a frighteningly familiar parallel to our present environment. Nature evolves in many ways to 'combat' mans efforts to control nature ,limit plants, exterminate pests,etc.)
Britian Now a Net Oil Importer
11 August 2004Financial Times
Britain became a net importer of oil in June for the first time in 11 years, official data showed yesterday.
News of the shift came as world crude oil prices touched record highs this week of Dollars 41.70 for benchmark Brent crude and Dollars 45.04 a barrel for West Texas Intermediate. The US government yesterday raised its central price forecast for US oil this quarter by Dollars 4 a barrel to Dollars 41 a barrel and predicted prices close to Dollars 40 a barrel next winter.
The UK's oil imports were at their highest-ever level in the second quarter, according to data from the Office of National Statistics, a government agency. UK oil production peaked in 1999 at 2.8m b/d, and has since been falling as the North Sea's reserves deplete. Wood Mackenzie estimates UK oil output at 2.2m b/d, and some forecasters say production will decline to about 2m b/d next year.
Rhodri Thomas, an energy analyst with Wood Mackenzie, said that, although the June production figures might be lower than normal because of seasonal maintenance on oil rigs in the North Sea, the trend was steadily downwards.
"This is no blip, production rates are in decline," he said.
As North Sea output falls, monthly statistics will more frequently show imports exceeding exports. After 2007, the UK is expected to emerge as a net importer for the year.
Revenues from the North Sea have helped strengthen Britain's current account since the country established itself as an oil exporter in 1981. They accounted for more than 20 per cent of total trade goods exports at their peak in the early 1980s, according to research from ING Financial Markets. Oil exports in June accounted for less than 8 per cent of UK goods exports.
Despite importing more than it exported, the UK managed to scrape a net surplus of Pounds 22m from oil because North Sea crude is of a high enough quality to command a premium. But this was the lowest since August 1991, down from Pounds 206m in May and a fraction of the record Pounds 1.5bn received in May 1985. The drop in oil-export revenues contributed to the widening of the UK's current account deficit for the month to Pounds 4.97bn from Pounds 4.83bn in May.
Paul Dales, UK economist at Capital Economics, said the figures were "quite worrying".
"We would expect that our oil balance would be soaring at this point. If the balance turns negative then we would expect oil price rises to have a negative effect on UK plc, rather than the beneficial effect they have had in the past," Mr Dales said.
Falling North Sea outputs will lead to an increasing reliance on imports for Britons, who have used about 1.8m b/d of oil since 1991.
James Knightley at ING Financial Markets said: "It's difficult to see production increase in a meaningful way unless they find new fields ... The risk is that (the trade balance) will increase unless we see a correction in consumer spending."
In response to declining output, the government has tried to attract oil companies by cutting rental fees on licences. Britain has also begun work on an import infrastructure such as the construction of liquefied natural gas import terminals, as the UK is expected to become a net gas importer as early as next year.
The UK also intends to increase the renewable share of power generation to 20 per cent by 2020.
Britain became a net importer of oil in June for the first time in 11 years, official data showed yesterday.
News of the shift came as world crude oil prices touched record highs this week of Dollars 41.70 for benchmark Brent crude and Dollars 45.04 a barrel for West Texas Intermediate. The US government yesterday raised its central price forecast for US oil this quarter by Dollars 4 a barrel to Dollars 41 a barrel and predicted prices close to Dollars 40 a barrel next winter.
The UK's oil imports were at their highest-ever level in the second quarter, according to data from the Office of National Statistics, a government agency. UK oil production peaked in 1999 at 2.8m b/d, and has since been falling as the North Sea's reserves deplete. Wood Mackenzie estimates UK oil output at 2.2m b/d, and some forecasters say production will decline to about 2m b/d next year.
Rhodri Thomas, an energy analyst with Wood Mackenzie, said that, although the June production figures might be lower than normal because of seasonal maintenance on oil rigs in the North Sea, the trend was steadily downwards.
"This is no blip, production rates are in decline," he said.
As North Sea output falls, monthly statistics will more frequently show imports exceeding exports. After 2007, the UK is expected to emerge as a net importer for the year.
Revenues from the North Sea have helped strengthen Britain's current account since the country established itself as an oil exporter in 1981. They accounted for more than 20 per cent of total trade goods exports at their peak in the early 1980s, according to research from ING Financial Markets. Oil exports in June accounted for less than 8 per cent of UK goods exports.
Despite importing more than it exported, the UK managed to scrape a net surplus of Pounds 22m from oil because North Sea crude is of a high enough quality to command a premium. But this was the lowest since August 1991, down from Pounds 206m in May and a fraction of the record Pounds 1.5bn received in May 1985. The drop in oil-export revenues contributed to the widening of the UK's current account deficit for the month to Pounds 4.97bn from Pounds 4.83bn in May.
Paul Dales, UK economist at Capital Economics, said the figures were "quite worrying".
"We would expect that our oil balance would be soaring at this point. If the balance turns negative then we would expect oil price rises to have a negative effect on UK plc, rather than the beneficial effect they have had in the past," Mr Dales said.
Falling North Sea outputs will lead to an increasing reliance on imports for Britons, who have used about 1.8m b/d of oil since 1991.
James Knightley at ING Financial Markets said: "It's difficult to see production increase in a meaningful way unless they find new fields ... The risk is that (the trade balance) will increase unless we see a correction in consumer spending."
In response to declining output, the government has tried to attract oil companies by cutting rental fees on licences. Britain has also begun work on an import infrastructure such as the construction of liquefied natural gas import terminals, as the UK is expected to become a net gas importer as early as next year.
The UK also intends to increase the renewable share of power generation to 20 per cent by 2020.
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texasoil
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I agree $50/Bbl for oil futures is more probable before $30/Bbl, but at what price are real liquid barrels moving? A far bigger impact on U.S. consumer is dry cargo ship day rates (up 500% in 6 months).
We should start moving toward alternate energy sources as rapidly as practical. The present administration will not.
We should start moving toward alternate energy sources as rapidly as practical. The present administration will not.
I Scooped the Press
I posted the news of the NW Indiana refinery fire a week ago!
Crap! I'm feeling like Matt Drudge!:eek:
http://biz.yahoo.com/rb/040813/markets_oil_6.html
Crap! I'm feeling like Matt Drudge!:eek:
http://biz.yahoo.com/rb/040813/markets_oil_6.html
1992Q45A wrote:"How about $50 before $30?"
I said it would hit 30 before 50, and it did. It fell through 30. It has still yet to penetrate 50, much less maintain it. In this current enviroment, it's certainly plausable.
Now watch the Venezuela situation this weekend.
save up for your heating bills this winter.
Daedalus beat me to it.
I went back over the posts to find your "30 before 50" claim. This is all I found:
Oil hasn't been below $30 for quite some time now and certainly not since this thread was started. Proof:1992Q45A wrote:the days of 40 are over
http://customer1.barchart.com/...5.htm
There were some other interesting things written there about what you would do if I was right about oil prices but I don't want to rub it in.
BTW, you still think the bushies went to Iraq looking for WMD and freedom?
Remember Cheney's quote from the Petroleum Institute speech in 1999 where he said, "Energy is fundamentally a government business."? The link to that speech is somewhere on this thread.
Bitumen For Centuries and the Alaska Connection
Oil as a fuel isn't disappearing. It's just taking on a more expensive form that will be around for a couple of centuries.
http://www.petroleumequities.c...l&t=4
Goodbye V8. Hello turbo 4?
http://www.petroleumequities.c...l&t=4
Goodbye V8. Hello turbo 4?
VimyJ wrote:Daedalus beat me to it.
I went back over the posts to find your "30 before 50" claim. This is all I found:
Oil hasn't been below $30 for quite some time now and certainly not since this thread was started. Proof:
http://customer1.barchart.com/...5.htm
There were some other interesting things written there about what you would do if I was right about oil prices but I don't want to rub it in.
BTW, you still think the bushies went to Iraq looking for WMD and freedom?
Remember Cheney's quote from the Petroleum Institute speech in 1999 where he said, "Energy is fundamentally a government business."? The link to that speech is somewhere on this thread.
My apologies, I meant fall through 40 not 30.
I never said Bush went to Iraq for WMD. I support our decision to go into IRAQ, however I never believed Bush's intentions were for WMDs. I don't think OIL played as big of a role as you believe it did. I don't believe it played no role, however.
I pasted that speed from Cheney, because it's interesting. You won't here him admitting to that again.
I still don't see where you're going with this.
I pasted here multiple times, crude is being driven by speculators. Yukos, Charley, Venz, all contributing factors.
You reported here multiple times you thought crude oil was going up because the supply was drying up, to which I disagreed multiple times.
You are no more right then you were. Crude fell below 40, just like I said it would. Then it went back up. This is a speculators market. Just like silver was 6 months ago, or the Dollar tanking a year ago was. Could go either way.
Trade deficit ballons yet again....
As long as Bush continues his policies the dollar will be under pressure. It will be interesting to see if it will fall through 1.30..
His privitazation of social security sure won't help
WASHINGTON (AP) - Wholesale prices edged up just 0.1 percent in July as a big drop in food costs offset the biggest increase in energy prices in six months while the nation's trade deficit soared to an all-time high in June.
The Commerce Department reported Friday that the trade deficit surged to a $55.82 billion in June, a sharp 19.1 percent increase from a May imbalance of $46.88 billion.
The June deficit was har higher than economists had been expecting. It reflected a rise in imports, pushed up by surging energy costs and a drop in U.S. exports.
The small increase in the Labor Department's Producer Price Index last month, released separately by the Bureau of Labor Statistics, followed a 0.3 percent decline in June as price pressures at the wholesale level have shown a sharp moderation over the past two months following sizable increases earlier this year.
(AP) Earlene Kimble looks at a 2005 Chrysler 300 on the showroom floor at River Oaks Chrysler-Jeep...Full Image The small July increase reflected a 1.6 percent decline in food costs, the biggest one-month drop in more than two years, reflecting cheaper costs for beef and dairy products. Food costs had also fallen in June after three months of big increases.
The price moderation last month did not extend to energy, which shot up by 2.3 percent in July, the largest gain since a 4.7 percent rise in January. Energy costs had fallen by 1.6 percent in June. Last month's sharp turnaround reflected higher gasoline costs, which rose by 5.4 percent in July after having posted a 5.2 percent decline in June.
With crude oil prices hitting record levels this week, spiking above the $45 per barrel mark, analysts are predicting that the prices paid by consumers for gasoline and other energy products will be headed higher in coming months.
Democratic presidential nominee Sen. John Kerry has raised the soaring price of energy as a campaign issue, one part of his economic indictment against President Bush.
In remarks prepared for delivery Friday at a campaign stop in Eugene, Ore., Kerry said, "When we have gas prices going through the roof, the Americans I've met don't think we've turned the corner."
(AP) Bob Meltner of Fenton, Mo., looks over a truck that is advertised at $8000 off the sticker price at...Full Image The Bush administration counters that the president has an energy plan designed to lower America's dependence on foreign oil but it has been blocked in Congress by Democrats who do not want to expand oil drilling in Alaska.
The surge in energy costs this year has acted as a major drag on growth by forcing consumers to spend more on filling up their gas tanks than on other products. The overall economy, as measured by the gross domestic product, slowed to a growth rate of just 3 percent in the April-June quarter, far below the 4.5 percent pace in the first three months of the year.
In an effort to make sure that inflation does not become a problem, the Federal Reserve raised a key short term interest rate by a quarter point on Tuesday, its second rate increase this year.
Fed officials signaled that further rate increases would occur at a "measured" pace which economists have read as an indication that the Fed will make quarter point moves at its final three meetings of the year in September, November and December.
Federal Reserve Chairman Alan Greenspan told Congress last month that the "soft patch" the economy encountered in the early summer should be short-lived.
However, private economists are worried that the continued rise in energy costs, which act like a tax on consumers, will further depress consumer spending in the months ahead and could jeopardize the economic recovery.
The trade report showed that imports rose by 3.3 percent to $148.64 billion in June, an increase that was led by a huge jump in the nation's foreign energy bill, which rose to $15.22 billion in June compared to $13.74 billion in May.
U.S. exports fell by 4.3 percent in June to $92.82 billion, the lowest level in four months, reflecting broadbased weakness across a number of categories of manufactured goods.
America's trade deficits with its major trading partners rose in June. The deficit with China jumped to $14.2 billion, the highest in history, while the deficit with Japan rose to $6.27 billion and the deficit with European countries using the euro currency rose to $7.85 billion. The deficit with Canada rose to $6.63 billion and the trade gap with Mexico widened to $4.9 billion.
The Kerry campaign contends that Bush's free trade efforts have led to huge trade deficits and cost millions of American manufacturing jobs as more companies move production overseas to low-wage countries.
As long as Bush continues his policies the dollar will be under pressure. It will be interesting to see if it will fall through 1.30..
His privitazation of social security sure won't help
WASHINGTON (AP) - Wholesale prices edged up just 0.1 percent in July as a big drop in food costs offset the biggest increase in energy prices in six months while the nation's trade deficit soared to an all-time high in June.
The Commerce Department reported Friday that the trade deficit surged to a $55.82 billion in June, a sharp 19.1 percent increase from a May imbalance of $46.88 billion.
The June deficit was har higher than economists had been expecting. It reflected a rise in imports, pushed up by surging energy costs and a drop in U.S. exports.
The small increase in the Labor Department's Producer Price Index last month, released separately by the Bureau of Labor Statistics, followed a 0.3 percent decline in June as price pressures at the wholesale level have shown a sharp moderation over the past two months following sizable increases earlier this year.
(AP) Earlene Kimble looks at a 2005 Chrysler 300 on the showroom floor at River Oaks Chrysler-Jeep...Full Image The small July increase reflected a 1.6 percent decline in food costs, the biggest one-month drop in more than two years, reflecting cheaper costs for beef and dairy products. Food costs had also fallen in June after three months of big increases.
The price moderation last month did not extend to energy, which shot up by 2.3 percent in July, the largest gain since a 4.7 percent rise in January. Energy costs had fallen by 1.6 percent in June. Last month's sharp turnaround reflected higher gasoline costs, which rose by 5.4 percent in July after having posted a 5.2 percent decline in June.
With crude oil prices hitting record levels this week, spiking above the $45 per barrel mark, analysts are predicting that the prices paid by consumers for gasoline and other energy products will be headed higher in coming months.
Democratic presidential nominee Sen. John Kerry has raised the soaring price of energy as a campaign issue, one part of his economic indictment against President Bush.
In remarks prepared for delivery Friday at a campaign stop in Eugene, Ore., Kerry said, "When we have gas prices going through the roof, the Americans I've met don't think we've turned the corner."
(AP) Bob Meltner of Fenton, Mo., looks over a truck that is advertised at $8000 off the sticker price at...Full Image The Bush administration counters that the president has an energy plan designed to lower America's dependence on foreign oil but it has been blocked in Congress by Democrats who do not want to expand oil drilling in Alaska.
The surge in energy costs this year has acted as a major drag on growth by forcing consumers to spend more on filling up their gas tanks than on other products. The overall economy, as measured by the gross domestic product, slowed to a growth rate of just 3 percent in the April-June quarter, far below the 4.5 percent pace in the first three months of the year.
In an effort to make sure that inflation does not become a problem, the Federal Reserve raised a key short term interest rate by a quarter point on Tuesday, its second rate increase this year.
Fed officials signaled that further rate increases would occur at a "measured" pace which economists have read as an indication that the Fed will make quarter point moves at its final three meetings of the year in September, November and December.
Federal Reserve Chairman Alan Greenspan told Congress last month that the "soft patch" the economy encountered in the early summer should be short-lived.
However, private economists are worried that the continued rise in energy costs, which act like a tax on consumers, will further depress consumer spending in the months ahead and could jeopardize the economic recovery.
The trade report showed that imports rose by 3.3 percent to $148.64 billion in June, an increase that was led by a huge jump in the nation's foreign energy bill, which rose to $15.22 billion in June compared to $13.74 billion in May.
U.S. exports fell by 4.3 percent in June to $92.82 billion, the lowest level in four months, reflecting broadbased weakness across a number of categories of manufactured goods.
America's trade deficits with its major trading partners rose in June. The deficit with China jumped to $14.2 billion, the highest in history, while the deficit with Japan rose to $6.27 billion and the deficit with European countries using the euro currency rose to $7.85 billion. The deficit with Canada rose to $6.63 billion and the trade gap with Mexico widened to $4.9 billion.
The Kerry campaign contends that Bush's free trade efforts have led to huge trade deficits and cost millions of American manufacturing jobs as more companies move production overseas to low-wage countries.
Re: Bitumen For Centuries and the Alaska Connection
VimyJ wrote:Oil as a fuel isn't disappearing. It's just taking on a more expensive form that will be around for a couple of centuries.
http://www.petroleumequities.c...l&t=4
Goodbye V8. Hello turbo 4?
Should crude prices remain at these levels into springtime, prices at the pump could be climbing 20 to 50 cents from where they are.
At least premium is back below 2 for the time being...
I need a northstar engine, doesn't require the good stuff.
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elwesso
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Thread re-opened by elwesso......
There WILL NOT be any more political discussion of any sorts.... You can argue aimlessly over emails or some other politically centered forum..
IMHO this thread would be deleted if it wasnt so full of great informaiton... i deleted/edited a lot of posts, and I really dont feel like doing it again, thanks!!!!
There WILL NOT be any more political discussion of any sorts.... You can argue aimlessly over emails or some other politically centered forum..
IMHO this thread would be deleted if it wasnt so full of great informaiton... i deleted/edited a lot of posts, and I really dont feel like doing it again, thanks!!!!
Bloomberg News
Crude oil futures jumped to a record $48.70 a barrel yesterday on concern that Iraqi exports may drop further because of clashes in southern Iraq between American troops and fighters loyal to the rebel cleric Moktada al-Sadr.
Disruptions to Iraqi pipeline shipments have cut exports to about 1 million barrels a day from 1.8 million in April. Crude oil futures in New York have set an intraday record all but one day since July 30 amid concern that rising demand has used up all excess production, leaving no supply cushion.
Advertisement "When you're at capacity, a million barrels starts to become very important," said Boone Pickens, the Texas oil investor who predicted in May that oil prices would go to $50.
"If I had to take a position up or down, I'd say up," he said in a phone interview from Dallas.
In New York, crude oil for September delivery rose $1.43, or 3 percent, to $48.70 a barrel. Prices reached $48.80 a barrel, the highest intraday price since oil began trading in New York in 1983. Prices were up 59 percent from a year earlier. The September contract expires tomorrow. The more active October futures contract rose $1.29, or 2.8 percent, to $47.64 a barrel.
"The oil price is firmly in the danger zone," Stephen S. Roach, chief economist at Morgan Stanley in New York, wrote in a note to clients. Should prices reach $50 and stay there for several months, this would be "in the ballpark with full-blown oil shocks of the past" that have caused recessions, he said.
In London, the October Brent crude oil futures contract rose $1.30, or 3 percent, to $44.33 a barrel on the International Petroleum Exchange, the highest closing price since futures began trading in 1988. Prices reached $44.35 a barrel during the session, an intraday record
Crude oil futures jumped to a record $48.70 a barrel yesterday on concern that Iraqi exports may drop further because of clashes in southern Iraq between American troops and fighters loyal to the rebel cleric Moktada al-Sadr.
Disruptions to Iraqi pipeline shipments have cut exports to about 1 million barrels a day from 1.8 million in April. Crude oil futures in New York have set an intraday record all but one day since July 30 amid concern that rising demand has used up all excess production, leaving no supply cushion.
Advertisement "When you're at capacity, a million barrels starts to become very important," said Boone Pickens, the Texas oil investor who predicted in May that oil prices would go to $50.
"If I had to take a position up or down, I'd say up," he said in a phone interview from Dallas.
In New York, crude oil for September delivery rose $1.43, or 3 percent, to $48.70 a barrel. Prices reached $48.80 a barrel, the highest intraday price since oil began trading in New York in 1983. Prices were up 59 percent from a year earlier. The September contract expires tomorrow. The more active October futures contract rose $1.29, or 2.8 percent, to $47.64 a barrel.
"The oil price is firmly in the danger zone," Stephen S. Roach, chief economist at Morgan Stanley in New York, wrote in a note to clients. Should prices reach $50 and stay there for several months, this would be "in the ballpark with full-blown oil shocks of the past" that have caused recessions, he said.
In London, the October Brent crude oil futures contract rose $1.30, or 3 percent, to $44.33 a barrel on the International Petroleum Exchange, the highest closing price since futures began trading in 1988. Prices reached $44.35 a barrel during the session, an intraday record
Iraqi output and exports have been hampered recently by fighting in the southern part of the country, putting upward pressure on global oil prices at a time of strong demand in China and the United States and supply concerns in Russia, Venezuela and other petroleum-producing nations.
"The market has been able to accommodate a supply disruption from one source," Steel said. "But what makes oil prices jittery is when you have the possibility of disruptions from several sources at once."
"The market has been able to accommodate a supply disruption from one source," Steel said. "But what makes oil prices jittery is when you have the possibility of disruptions from several sources at once."