Comments on: Environmental Challenges Top Industry List For First Time

By: GS650G

GS650G — Fri, 11 Apr 2008 13:26:15 +0000

Lifting costs in the house of saud are around 5 dollars a barrel. Even north sea costs don’t exceed 18 a barrel. Whoever handles the oil first and gets it into a ship makes all the money.

By: Landcrusher

Landcrusher — Fri, 11 Apr 2008 04:43:35 +0000

Local oil company leadership are all rather mystified by the current price of oil. They are all saying that the fundamentals do not support the price.

Before some of you go off on a tangent, let me remind you guys of a little factoid. Oil companies that you know the names of are all net buyers of oil. In the US, refining margins are so low that no one is making profit on it. Only the profit from the oil is being made, and this is not ideal for most of them. If there is an oil price conspiracy, it’s not Big Oil behind it.

By: NICKNICK

NICKNICK — Thu, 10 Apr 2008 19:02:32 +0000

So they think CAFE compliance is an environmental concern? The only reason car manufacturers worry about meeting CAFE is to avoid huge fines…which is a cost savings! (well, a cost avoidance, but still, cash is king).

and consumers are worried about fuel mileage? is it the carbon emissions SUV soccer moms are bitching about at the pump? nope. it’s the COST.

ANY business that doesn’t have money as its top priority will fail. then again, that might explain ford, gm, and chrysler…they’re not mismanaged, they’re just worried about being green!

By: Donal Fagan

Donal Fagan — Thu, 10 Apr 2008 17:16:16 +0000

Saudi Won’t Dump Oil On Market, OPEC Sees Weak Demand

Oil Minister Ali Naimi said Thursday Saudi Arabia won’t put extra crude onto the market to take advantage of high prices as the Organization of Petroleum Exporting Countries’ data head warned its monthly oil market report due Tuesday would show weaker-than-expected demand.

“I’m not going to dump oil into the market,” Naimi told reporters at a Petrostrategies oil summit in Paris.

“If there are buyers, then we will sell him more oil,” Naimi said. “From my perspective, I believe the market is well supplied. Inventories are building…the world is producing more oil than is being consumed.”

http://www.rigzone.com/news/article.asp?a_id=59955

Far be it from me to disagree with a man of the oil cloth, but record oil prices say otherwise.

By: N85523

N85523 — Thu, 10 Apr 2008 16:54:20 +0000

CNN mistakenly labeled SAE as the Society of the Automotive Industry. Careful expert examination reveals that an abbreviation for such a title would actually read SAI.

SAE stands for the Society of Automotive Engineers.

CNN more accurately may be the abbreviation for Careless News Network.