I think we all know this anonymous oil trader is...PBHangingChad
Replies to: I think we all know this anonymous oil trader is...PBHangingChad
I hedge our oil business but it’s absurd 200%. One day maybe. When oil goes about $100 the taps will
reopen. But while we can go back to over 12 million barrels per day production the administration is making it impossible to get to crude and product to market. So we will have tight supplies until we elect a new President.
I think Ty is shorting the market. We may have to establish a go fund me page for him.
Oil crashed in 2014 at $120/bbl. don't see it going beyond that number in the run up...
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Since you brought me into this thread...I'd like to return to our unfinished discussion on the oil
issue...have you reviewed the 'Worldometers' report that shows the U.S. with only 5 years of oil and 12 years of natural gas reserves without imports?...Again, it uses the very same source that you insisted must be used...the EIA (Energy Information Administration), a DOE agency...so you can trust it. More to the point, do you feel we are truly "Energy Independent" in the face of such facts?...should we be extracting more of our own limited resources while lessening the use of oil imports?...is that a sound strategy for the future?...
I may be wrong, but somewhere in our conversation you seem to show some appreciation for the need to eventually diminish our reliance on fossil fuels...if so, then the only questions remaining are 'How Much' and 'How Soon'...this is certainly an acceptable debate...are you in the mood for it?
No it’s BS. Experts like me are often wrong. You should know that by now. I only know what’s going
on at eye level. But I will say this, don’t discount American ingenuity if there is more oil we will find it. But it’s again ridiculous to put a finite 5 year date on US oil. They are guessing and again strikes me that they have an agenda.
So, that's your story and you're sticking to it...in spite of data from your own chosen source (EIA)
Talk about sticking your head in the sand...some "Expert".
Yep we will revisit in 5 years. If you think there are experts left in the world you are clueless.
So agreeing with the group think makes me an expert?
What should we address in regards to experts?
Business
Bankers
Politicians
Media
Analysts of various industries
The church’s
Sports
Military
Energy companies
Climate change alarmists
Weather casters
The UN
The CDC
NIH
Colleges and universities
Who did I miss? You can always find some crackpot professing an opinion mostly that supports their position.
So I don’t know. I’m in the oil industry, you are in some dreamworld about nuclear.
I could be wrong but it’s based on my 30 years of working in the industry.
You only know what you read. Including the EIA which I brought up.
We will see won’t we.
I am so glad our resident "expert" has hung up his stethoscope to pontificate about oil. Have fun PB
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The amazing part is his formal training is in astrophysics.
Like Jim he knows a lot about everything. And he's never wrong about anything. Quite an endearing quality.
You and Baron have a nice chat...if you ever have a question or comment you'd like to direct my way,
feel free to utter it...I'll respond.
Sure. Do you prefer polenta or gnocchi with osso bucco?
I prefer polenta with lots of Parmesan but the wife is not a fan so I made gnocchi. Not a traditional accompaniment but still very tasty.
Find polenta, gnocchi and risotto to be often made...and rarely made well.
Great gnocchi is probably the rarest of the three and boy do I love it paired with the right sauce.
Once made a sweet potato gnocchi with a confit of wild boar.
Good for you...we should host a thread on favorite dishes to make and provide recipes along with
cooking hints...I've never tried those dishes...but enjoy making Shrimp Scampi from time to time, or Lasagna and a few other dishes...however, as good as I think they are, my wife and I teamed up on a 'Grand Marnier Souffle' w/Creme Anglaise that would leave you begging for more (swear it)...would be a welcome 'retreat' from politics on occasion...no?
Hell yes! Anytime!
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I'll get back to you.
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The U.S. consumes 20M Bbls/day of oil...20M x 365 = 7.3B Bbls, so given our 35B Bbls in reserve, we
have 4.8 years of oil left...IF...we don't import a lot of oil...we are NOT "Energy Independent".
As for future sources...even the USGS forecasts only a little over 3B Bbls of oil in new Alaska fields...which gives us another 6 months of reserve...not a statistic that should make anyone relax.
Let's talk real numbers...if you have actual data or reports from sources like EIA, USGS, then please share them...then you can truly end the debate...until then, the ball is in your court.
Moronic argument, as pointed out before.
Assumes there is no advance in recovery technology or in finding new fields. Proven wrong literally every year since this tally was first started. Do better.
Direct your 'ad hominem' to British Petroleum and the EIA...I'm just stating what was in the
attached report that uses those two sources...also note in the report that proven reserves "decreased" steadily from 1980 - 2008 when 'Fracking' became widespread...and then increased to our current level...still, we have only 5 years of proven reserves, so it's fair to be concerned as to how long we can live on this edge while needing imported oil to sustain our level of consumption (7B Bbls/yr).
Got any new data?...or are "Hope and a Prayer" your "Go To" strategy?
Link: https://www.worldometers.info/oil/us-oil/#oil-reserves
You just impeached your previous assertion in your attempted explanation.
Pretty pathetic effort, Ty.
????...you got any new data I'm not aware of?
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The data is right in front of you.
You don't even believe this sloppy bullshit you're pushing. Just trying to promote the message, right Ty? Lies in the service of the greater good, I guess. Huh?
Go peddle this pathetic pap on Facebook. You ain't fooling anyone here.
LOL...Lots of invective from you, but I presented real data from BP and the EIA...and you...nada.
In all my experience in the technical/business world, that approach of yours never carried the day ;-)...care to join the adult world and discuss this?
Shut up. I’ve addressed this you read, I work. I could care less what you quote. Get a fucking horse
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Given your line of work, I can understand you being 'touchy' on this issue...but it happens to
impact on every single person in this country, so it will continue to be discussed...with or without you.
Very big decisions will be made in the not-too-distant future...votes will be cast...everyone needs to have the facts...you're always free to provide verifiable ones that may differ from those I've presented.