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2006-05-17 Home Front Economy
Oil Would Reach $100 If Venezuela Ends U.S. Sales: Chavez
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Posted by TMH 2006-05-17 00:00|| || Front Page|| [5 views since 2007-05-07]  Top

#1 Hugo's life expectancy is approximately 6 hours past the draining of his bank accounts.
Posted by AzCat 2006-05-17 00:08||   2006-05-17 00:08|| Front Page Top

#2 Hugo will assume room temp way before that happens.

We are talking about multinational oil company profits here as soon Hugo the boy wonder actually gets too big for his britches he will be a dead hero.
Posted by SPoD 2006-05-17 01:06|| http://sockpuppetofdoom.blogspot.com/]">[http://sockpuppetofdoom.blogspot.com/]  2006-05-17 01:06|| Front Page Top

#3 This assertion makes no sense. All of the oil produced in the world is accounted for. Any oil he sells to someone else is that much less oil that customer will buy from its current supplier. He'll also get less money for that oil, since transportation costs to any large customer other than the US will be way higher.
Posted by Zhang Fei 2006-05-17 02:05|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com]  2006-05-17 02:05|| Front Page Top

#4 stabaloy, invest.
Posted by RD 2006-05-17 03:53||   2006-05-17 03:53|| Front Page Top

#5 Oil's going to a hundred dollars a barrel anyway. Chavez might make it happen a bit sooner and consequently bring to an end the age of oil dependence that much sooner.

I say go for it, Amigo.
Posted by phil_b">phil_b  2006-05-17 05:14|| http://autonomousoperation.blogspot.com/]">[http://autonomousoperation.blogspot.com/]  2006-05-17 05:14|| Front Page Top

#6 Once again phil-b cheers on the damage the western economies by hoping and praying for 100 dollar a barrel oil.

50 dollar a barrel oil will do everything 100 dollar a barrel oil will do in stimulating the use of non petrolium sources of reliable energy all with out the damange to western economies 100 dollars a barrel will bring.

It will not matter to poor Hugo he will be dead and in the ground long before the oil cartels allow him to wreak havoc on their vested interests. Chavez is one small turd in a very large cesspool.
Posted by SPoD 2006-05-17 05:28|| http://sockpuppetofdoom.blogspot.com/]">[http://sockpuppetofdoom.blogspot.com/]  2006-05-17 05:28|| Front Page Top

#7 He really is cruising for a brusin', isn't he?
Posted by DarthVader 2006-05-17 08:37||   2006-05-17 08:37|| Front Page Top

#8 Hate to burst your bubble Hugo, but at best, shutting off sales to the US would make oil prices spike for only about 2 days on the exchange, maybe up to $74 a barrel. Oh, and it would also trash your economy, Bozo.
Posted by mcsegeek1 2006-05-17 09:14||   2006-05-17 09:14|| Front Page Top

#9 Where are the plants that crack your petro Hugo boy? Think new plants are going to pop up overnight?
Posted by Jetch Jerenter8926 2006-05-17 09:17||   2006-05-17 09:17|| Front Page Top

#10 For that matter, it takes a lot of crackin to get any gas from Venezuelan crude. It looks like tar, has more asphaltenes than you can shake a stick at and doesn't make as much light distilates(gas & diesel) as Brent or Light Sweet.
Posted by bigjim-ky 2006-05-17 10:24||   2006-05-17 10:24|| Front Page Top

#11 But that doesn't matter anyway cause after all this privitization bullshit nobody in his right mind is going to build a refinery in S.America anyway. Not so they can steal it in 5 years and give you a bill for the legal work to do it.
Posted by bigjim-ky 2006-05-17 10:26||   2006-05-17 10:26|| Front Page Top

#12 SPoD, oil will go high enough to result in a crisis that convinces enough people to realize that dependence on imported oil is dumb and unecessary. Conventional wisdom had $100/b as a magic number to bring about this realization.

The world economy has proved remarkably resilient to higher oil prices, which proves the shock is at much higher prices.

The oil price is going to $200/b.
Posted by phil_b">phil_b  2006-05-17 10:32|| http://autonomousoperation.blogspot.com/]">[http://autonomousoperation.blogspot.com/]  2006-05-17 10:32|| Front Page Top

#13 Quite obviously, this rectal cavity has been taking lessons from Ahmadinejad.
Posted by Zenster 2006-05-17 10:51||   2006-05-17 10:51|| Front Page Top

#14 Is there any way for Bush to get a message to the right people that says. "Citgo is done here if Chavez keeps it up."?
Posted by Mike N. 2006-05-17 11:39||   2006-05-17 11:39|| Front Page Top

#15 It's already $75 a bbl. What's $100 goin to matter, up another 25%. So, its up another $.75 a gallon for a little while. It would be worth it to squish that little turd and let the world know that we arent especially scared of paying a few more cents at the pump. Sure we like cheap gas, but if that means we have to take shit, f*ck you.
Posted by bigjim-ky 2006-05-17 11:41||   2006-05-17 11:41|| Front Page Top

#16 "For that matter, it takes a lot of crackin to get any gas from Venezuelan crude. It looks like tar, has more asphaltenes"

I don't know much about oil refining and extraction but until we get new technology to break our oil dependence, it looks we need to get the most out of what we have. This sounds dumb, but Jim's comments triggered some thoughts in a slightly different tangent. The ancient name of the Dead Sea is Lake Asphaltis; National Geo printed an old diary of early British explorers seeking the source of local legends. It was so caustic, it ate through their wooden boats and burned their skin. Great clumps of sticky asphalt could only be removed with "menstrual blood", although it never said how such a discovery was made. There could be vast deposits under Israel and Jordan. Then on CSI, they removed a couple of bodies encased in tar by injecting liquid nitrogen and removing an entire block of the tar. The Canadian oil sands are basically washed with hot water and the sand returned in a clean mining operation. Then there are the vast methane beds under the ocean, waiting to be tapped. A kid on FOX won the Invention Convention by inventing a lawnmower propelled with compressed air, using graphite and no gasoline. New processing techniques could prove to be economical and open new sources of energy. Everyone has previously been discouraged from anything besides the status quo by big oil and big auto makers but it seems like the world is finally waking up to the threats of blackmail we are open to by refusing to change.
Posted by Danielle 2006-05-17 12:19||   2006-05-17 12:19|| Front Page Top

#17  "For that matter, it takes a lot of crackin to get any gas from Venezuelan crude. It looks like tar, has more asphaltenes"

I don't know much about oil refining and extraction but until we get new technology to break our oil dependence, it looks we need to get the most out of what we have. This sounds dumb, but Jim's comments triggered some thoughts in a slightly different tangent. The ancient name of the Dead Sea is Lake Asphaltis; National Geo printed an old diary of early British explorers seeking the source of local legends. It was so caustic, it ate through their wooden boats and burned their skin. Great clumps of sticky asphalt could only be removed with "menstrual blood", although it never said how such a discovery was made. There could be vast deposits under Israel and Jordan. Then on CSI, they removed a couple of bodies encased in tar by injecting liquid nitrogen and removing an entire block of the tar. The Canadian oil sands are basically washed with hot water and the sand returned in a clean mining operation. Then there are the vast methane beds under the ocean, waiting to be tapped. A kid on FOX won the Invention Convention by inventing a lawnmower propelled with compressed air, using graphite and no gasoline. New processing techniques could prove to be economical and open new sources of energy. Everyone has previously been discouraged from anything besides the status quo by big oil and big auto makers but it seems like the world is finally waking up to the threats of blackmail we are open to by refusing to change.

So in short, you don't know much about the oil industry but you feel certain that "big oil and big auto makers" are behind supressing all the magic technologies that keep us oil dependent?

This is the same Powerful Big Oil that can't change the fact that you can only drill offshore of _three_ states of the union?

Put another way: I'm in the oil industry. I sell a specialized tool for working with dual-shouldered rotary connections.

Of the last thirteen delivered-or-under-construction tools I've made in about the past year and a half, three have been for the US, and ten for overseas. And one of the US tools is used mainly in support of a company using it to make river crossing pipelines for fiber optic data lines.

We're five years into this crisis and thus far those who don't want more drilling here have been able to block the smallest expansion of drilling in the north slope of Alaska, which is one of the most desolate regions on earth.

That decision wasn't made by "Big Oil." That decision was made by the Electorate. The People. In short, US.
Posted by Phil 2006-05-17 13:40||   2006-05-17 13:40|| Front Page Top

#18 A proposal to make enough bio-diesel for US needs by growing it from micro-algae in the Salton Sea

This takes advange of the huge fertilizer overun in that water body.
Posted by 3dc 2006-05-17 13:44||   2006-05-17 13:44|| Front Page Top

#19 3dc: How are you going to get anyone to spend money on a large capital-intensive scheme like that when they'll be liable to wake up the next morning to find themselves villianized in the press as "big biodiesel" price gougers, _or_ as environmental despoilers (based on the same sort of lies that actual-meaningful-scaled wind power projects have to put up with), or finally, when the Saudis get around to lowering the price to $ 15.00/bbl because an administration they like is in office but the algae guys haven't managed to pay off their loans yet...
Posted by Phil 2006-05-17 14:27||   2006-05-17 14:27|| Front Page Top

#20 In short, show me where all the political and economic problems that bedevil oil drilling in the US aren't going to happen to these guys.
Posted by Phil 2006-05-17 14:27||   2006-05-17 14:27|| Front Page Top

#21 We pump that heavy stinky crude here. I see pumping units going that I have never seen in operation in 12 years. Hugo doesn't have the good stuff everyone wants. His oil like ours here gets treated and "blended" in with lighter crude and is then refined. It is not the good stuff everyone wants.


If people want new energy sources they will have to get rid of the the Democrats in congress and the senate, the enviromental wackos and put the enviromental litigators out of business. The price of energy will continue to rise and we will be oil dependent until you overcome the luddites communist and pastorialists all who have an agendas that block development of new energy sources, drilling off our coasts and, development in the places the energy source is at.

Hugo is a pest and will get swatted in due time. This is the way in that part of the world
Posted by SPoD 2006-05-17 14:50|| http://sockpuppetofdoom.blogspot.com/]">[http://sockpuppetofdoom.blogspot.com/]  2006-05-17 14:50|| Front Page Top

#22 SPod: Nothing like a burning flare or the sound of a pump jack off in the distance.
Posted by Besoeker 2006-05-17 14:54||   2006-05-17 14:54|| Front Page Top

#23 Now Phil, don't be mean. You know we can't drill off the coast of Florida because we have millions of $7 an hour hotel jobs that must be protected at all cost.
Posted by 6 2006-05-17 15:55||   2006-05-17 15:55|| Front Page Top

#24 6, LOL! Dead-nutz on.
Posted by Broadhead6 2006-05-17 21:37||   2006-05-17 21:37|| Front Page Top

#25 The US is the only country with refineries that can handle all his tar like goo.
Posted by 3dc 2006-05-17 22:54||   2006-05-17 22:54|| Front Page Top

#26 3dc, I don't know if the US is the only country with refineries able to process 'heavy' crude. I suspect there are others as many oil fields world-wide with refineries in the area able to process them.
Posted by Brett 2006-05-17 23:20||   2006-05-17 23:20|| Front Page Top

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