As petrol prices have been slashed recently due to the reduce cost of crude oil, there was hope that Gas and Electricity utility bills would fall too in line with oil prices as they claimed they were linked. As energy suppliers continue to increase their rates, Opec states that they are going to reduce oil production in order to push up petrol prices again.
The UK energy suppliers can now increase their costs yet again using the excuse of increased oil prices which could make the whole economy collapse.
Do you think that there is some sort of conspiracy between Opec and international energy supplies?
Of course its a conspiracy, the fat cats in their cosy offices can see the pound signs in their colleagues eyes, they will do anything to make more money for themselves, greedy sods.
British Energy and Opec Oil Producers?
Are we going to see $2/gallon gas again ? Will gas follow crude oil’s fall to $52/bbl, a 20 month low !?
Sometimes gas prices seem to follow crude oil and sometimes they don’t. Right now crude oil is at a 20 month low at $52/bbl dropping $10 in just a few days despite OPEC’s announcement that it will be cutting production. But gas prices have not yet followed suit. Is a drop imminent? Are we going to see the blue sky $2/gallon again ?
The average national gas price is $2.236/gallon as per Gasbuddy.com. I am in California. The average here is around $2.41/gallon.
Great to see so many people already at below $2/gallon gas. However, do you think it will stay? For how long?
What you have to remember is that gas prices are an amalgam of many different factors. You have to remember the both India and China are beginning to industrialize. China alone will be able to reach our gas usage rate in a couple years. This obviously drives up the price. Supply and demand aren’t the only factors. For example, did you know that congress taxes the oil companies so much that they make more money from oil the the actual companies do? Big oil is villanized in the media but more than half of what you pay for are for taxes and additives to the fuel you use. People need to get it into their thick skulls that corporations don’t pay taxes, consumers do. So if you want to blame someone don’t blame Bush, blame congress. People also need to learn that the legislative branch and the executive branch have different powers and responsibilities. Sorry about that last part, I’m just still a little angry from the idiots that votes democrat in this last election.
FYI it won’t ever go below $2.00 again unless a couple of things happen. The only realistic one being that a large number of oil veins are discovered and used. Not like the ones being ignored in Alaska. The unrealistic one is that Congress decreases the taxes on the oil companies. That will never happen because people don’t know the few pennies that oil companies make off of every gallon. China and India are only going to consume more and more, so you should actually expect oil prices to rise.
Drilling and Producing Crude Oil and Natural Gas in Ohio
from the Ohio Oil and Gas Energy Education Program (OOGEEP).
Duration : 0:6:32
oil refining processes Eng.?
An oil well in a reservoir has a drainage area of 1000 acres (assume circular cross section, 1 acre = 43560 ft2). Oil is being produced at steady state condition. The well is water driven and the hydrostatic pressure at the reservoir boundary is 6000 psi. The bottom hole (well bore) pressure is 4500 psi. The skin effect is 10. The vertical permeability of the reservoir is 10 md. The reservoir net thickness is 50 ft. The oil viscosity at the reservoir conditions is 1.7 cp (assume constant viscosity). The formation volume factor is 1.1. If well radius is 0.328 ft. calculate the steady state production rate of crude oil.
It has been decided to increase the oil production rate by 30% in two ways:
1-Decrease the well bore pressure.
2-Change the skin effect “s”.
a) Determine the reduction in wellbore pressure to increase the flow rate.
b) Determine the change in skin effect.
c) Although theoretically both methods should be applicable, which method is preferred (considering practical issues).
In above, an error was found in estimation of the drainage area. The actual drainage area was 50% lower. What would be the effect of this change in production rate? Calculate the new production rate.
Prepare a graph of production rate against drainage area and explain the result.
Is the production rate lower for a larger reservoir? Why? Explain
As a result of a number of wells drilled in the surrounding area of the well in above, the drainage area has been decreased by 20 percent and it is triangular (equilateral) in shape with the oil well at the center. Calculate the production rate. The average pressure is assumed to be 15% less than the reservoir boundary pressure.
I can see why you are having a problem with your question. You need to pay closer attention. This is not about oil refining at all but rather oil production.
Crude Oil – Boil Over Explosion
A typical boilover process can be divided into three phases, i.e. a quasi-steady period, premonitory period and boilover period.
Boilover is generally considered as one of the most important factors leading to the occurrence of boilover.
Experimental examinations have demonstrated that boilover only happens after the fuel/water interfacial temperature has reached the boiling point of water, and that it was the violent seething of water at the interface which brought about boilover. The emission of micro-explosion noise, one of the most prominent premonitory phenomena of boilover has been examined in detail and found to be a result of the water boiling.
The investigation on the premonitory micro-explosion noise of boilover illustrated that it is a possible means for early and remote detection of the occurrence of boilover in liquid pool fires. However, in a real fire situation, the micro-explosion is always contaminated by the environmental noise.
Hence, pattern recognition techniques should be used to differentiate the micro-explosion noise from the unwanted background noise, and a predictive model should be used to evaluate the status of oil burning and predict the occurrence of boilover. A set of noise features and a practical model have been presented for these purposes.
Duration : 0:3:32
Is there an Oil conspiracy to drive up the price of crude ?
Just when the price of oil falls below $ 40 a barrel. It’s lowest level in years. All of a sudden there is an explosion of violence in the Middle East, Russia shuts off gas to Ukraine, and OPEC cuts production.
Instant 20% jump in oil prices … I think the Oil companies have a hand in it.
Ummm, I’m going to have to go with no on that one.
Let me educate you: OPEC is a cartel, they have the ability to effect price worldwide and sometimes do, but they are still subject to the laws of supply and demand.
When we here in the United States enter into a recession, Wall Street stops speculating the price of oil, and demand begins to fall. You have what we have today: oil trading under $50 a barrel.
It’s all supply and demand, nothing more.
Is McCain wrong when he says Palin is reponsible for 20% of the nation’s energy supply coming from Alaska?
Palin is governor of a state that ranks second nationally in crude oil production, but she’s no more "responsible" for that resource than President Bush was when he was governor of Texas, another oil-producing state. In fact, her primary power is the ability to tax oil, which she did in concert with the Alaska Legislature.
Not only that.
Palin calls herself a reformer, but she seems to be following in Republican senator Ted Steven’s (the king of Pork) footsteps.
THE FACTS: As mayor of Wasilla, Palin hired a lobbyist and traveled to Washington annually to support earmarks for the town totaling $27 million. In her two years as governor, Alaska has requested nearly $750 million in special federal spending, by far the largest per-capita request in the nation. While Palin notes she rejected plans to build a $398 million bridge from Ketchikan to an island with 50 residents and an airport, that opposition came only after the plan was ridiculed nationally as a "bridge to nowhere."
http://news.yahoo.com/s/ap/20080904/ap_on_el_pr/cvn_fact_check
The state of Alaska recives $1.84 for every dollar it pays in federal taxes. That’s third highest behind Mississippi and New Mexico.
http://www.taxfoundation.org/research/show/266.html
Crude oil falls more than $3
The selloff came after the International Energy Agency lowered its estimate for worldwide oil demand. Also pushing down crude prices Tuesday: a key OPEC member left open the possibility that the oil cartel will increase output to curb rising prices. Anytime Saudi Arabia’s oil minister makes such a pronouncement, it has an immediate impact in the NYMEX trading pits. Jon Decker reports.
Duration : 0:2:0
If anyone opposes the defense of secure transportation of oil from the middle east, that person is a hypocrite
Unless that person stops using any and all products that are derived from oil based products, energy, plastics, rubber products, etc. The world depends on oil production like it or not. I agree, we shouldn’t but fact is, we do depend on oil. The true crime is the fact we allowed ourselves to become so dependant. The answer to the problem we now face and hate each other over is to become able to provide for our needs without the use of foriegn produced crude oil supplies. It will only get worse folks, wait until we see the supplies available go to the last few "drops". Then, if we haven’t found alternatives or alternatives are kept from us by the big oil producers, you ain’t seen nothin yet! Stop blaming conservatives for the war for oil and wake up to the reality of our dependence on it. Lets work together to solve this disaster.
You have some valid points but you are mistaken when you call it a ‘war for oil’. There is no war for oil, but I will agree that if it were not for the fact that the Middle East has oil, things would be different.
Schork Says $95 a Barrel Crude Oil Possible This Year: Video
Feb. 17 (Bloomberg) — Stephen Schork, president of Schork Group Inc., talks with Bloombergs Lori Rothman about the outlook for crude oil prices. (Source: Bloomberg)
Duration : 0:4:26