Page 1 of 2 1 2 LastLast
Results 1 to 25 of 49
  1. #1
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178

    Go out and fill up your gas tank: Right Now!

    Katrina is apparently going to shut down most Gulf Coast oil and natural gas production.

    It is going to rip out the subsea pipes of a whole bunch of wells. It is going to shut down the refining capacity of about 1/3 of the nation.

    It is going to damage a whole bunch of oil well heads.

    It is going to damage and rip out oil production platforms.

    Maybe we will get lucky. Probably we won't.

    Ivan did horrific damage to GOM oil production.

    Katrina is apparently going to dwarf Ivan.

    What Katrina is going to do, is take the small amount of spare production the world has right now, and rip it's shorts off and stick a firehouse up it's bung hole.

    I think, as the article says, we will easily see oil go to $70/bbl. Maybe $80.

    It took the world about 4 months to "catch" back up to the damage Ivan did. Since we are so close to "Peak Oil" now, it might actually never, ever, ever catch back up to what Katrina might do.

    Maybe the Jesus Lovers on this board should get down and pray, pray they can afford to drive the SUV to church one more time.

    Walt out.

    Oil, Gas May Soar as Storm Shuts U.S. Gulf Production (Update2)


    Aug. 28 (Bloomberg) -- Crude-oil and natural-gas prices may soar after Hurricane Katrina moved into production regions of the Gulf of Mexico, forcing companies including Exxon Mobil Corp. and Chevron Corp. to close operations.

    Royal Dutch Shell Plc said it shut 420,000 barrels of daily oil production in the Gulf. The Louisiana Offshore Oil Port, which handles about 11 percent of U.S. imports, closed yesterday. Katrina is one of the most powerful storms ever to enter the Gulf, source of about 30 percent of U.S. oil production and 24 percent of the country's natural gas.

    ``Forecasters are saying Katrina could do more energy damage than any storm in recent years,'' said Jason Schenker an economist with Wachovia Corp. in Charlotte. ``It's not just that there's going to be outages for the next couple of days. With shutdowns and damage at platforms and refineries, the bullish impact could be felt for the rest of the year.''

    Crude oil for October delivery on the New York Mercantile Exchange dropped $1.36, or 2 percent, to close at $66.13 a barrel on Aug. 26. Prices fell amid forecasts that Katrina would stay closer to Florida and miss most producing regions of the Gulf. The futures touched a record $68 a barrel Aug. 25 as the storm gained strength.

    ``I think it is easily conceivable that we could see crude futures hit $70 this week,'' Schenker said.

    Natural gas for September delivery in New York rose 2.2 cents to $9.792 per million British thermal units on Aug. 26. Prices have climbed 59 percent this year.

    `Chaotic'

    ``It's going to be pretty chaotic'' when North American gas markets open tomorrow, said Stephen Smith, president of Stephen Smith Energy Associates in Natchez, Mississippi. ``Prices should be more than $10 per million Btu. How high they will go is anybody's guess.''

    If platforms are damaged and production remains shut for more than a week, winter supplies might be affected, leading to higher prices for the rest of the year, Smith said.

    U.S. supplies of refined products, including gasoline, jet fuel and diesel, may decline as refineries near the path of the storm also shut. ConocoPhillips, the biggest U.S. refining company, closed its Alliance refinery south of New Orleans. Chevron Corp. and Valero Energy Corp. also shut refineries and evacuated staff.

    Most Powerful

    Katrina was upgraded to a Category 5 storm, the most powerful on the five-step Saffir-Simpson scale of hurricane intensity, according to the National Hurricane Center in Miami. It would be only the third storm of that magnitude to hit the U.S. since the government began keeping storm records.

    Oil prices jumped 22 percent in the month after Hurricane Ivan tore through the Gulf last September, toppling platforms and damaging underwater pipelines.

    Lost production in the Gulf because of Ivan peaked Sept. 16 at 1.4 million barrels of oil daily and 6.5 billion cubic feet of gas, according to the U.S. Minerals Management Service, which oversees offshore production. Shut production from Katrina could match those numbers, said Paul Sankey, senior oil analyst with Deutsche Bank Securities in New York.

    ``The storm is more severe than we've thought; it's turned into a monster,'' Sankey said. ``Crude is going to open stronger on Monday. The amount of lost production is equal to almost all the spare capacity in the world.''

    Gasoline prices may also rise as oil companies shut refineries on the Gulf Coast. ConocoPhillips shut its 247,000 barrel-a-day Alliance refinery and Chalmette Refining, a 190,000 barrel a day facility owned by Exxon Mobil Corp. and Petroleos de Venezuela SA. Both refineries are near New Orleans.

    New Orleans the `Hub'

    ``New Orleans is really the hub of the whole business,'' Deutsche Bank's Sankey said.

    Gasoline for September delivery fell 3.68 cents, or 1.9 percent, to $1.9269 a gallon on the Nymex Aug. 26. The futures, which reached a record $2.029 a gallon on Aug. 17, gained 1.2 percent last week.

    New Orleans residents were ordered to evacuate as the storm approached. Mayor Ray Nagin, at a press conference, said only essential personnel and people unable to travel may remain in the city. Thousands already have fled southern Louisiana.

    ``We probably deal with almost a third of the nation's domestic oil that is produced, and that will most likely be shut down,'' Nagin told CNN. ``That could have a significant impact on oil prices going forward.''

    EDIT:

    Too Late: Already above $70.

    Do we hear $80?

    How about you Joe Blow, aka Frank Booth. Would you like to bid $80? How about $90? I mean, Bush IS the energy President. He did so MUCH to lead America into the Peak Oil world, wouldn't you say?

    August 28, 2005
    U.S. Oil Surges $4 to Record Above $70
    By REUTERS

    Filed at 7:13 p.m. ET


    SINGAPORE (Reuters) - U.S. crude oil futures surged more than $4 in opening trade on Monday, hitting a new record high above $70 a barrel after Hurricane Katrina forced Gulf of Mexico producers to shut in more than a third of their output.

    Katrina, which strengthened into a rare, maximum power Category 5 hurricane as it spun through key oil and gas fields toward New Orleans, shut in a total 633,000 barrels per day (bpd), according to company figures on Sunday.

    It also forced the closure of seven refineries and a major U.S. crude import terminal.

    Crude oil futures (CLc1) on the New York Mercantile Exchange (NYMEX) surged as high as $70.80 a barrel, up $4.67 a barrel, as traders feared lasting damage could further strain an industry that has struggled to keep up with demand for two years.
    Last edited by Wasatch Walt; 08-28-2005 at 04:26 PM.

  2. #2
    banned
    Reputation: FrankBooth's Avatar
    Join Date
    Aug 2005
    Posts
    6,071
    Don't Believe The Hype


  3. #3
    transitional form
    Reputation: Belfrey's Avatar
    Join Date
    Jan 2004
    Posts
    3,583
    Quote Originally Posted by Wasatch Walt
    Katrina is apparently going to shut down most Gulf Coast oil and natural gas production.
    The meteorologists on a weather board my wife frequents (to keep up on Hurricane news) are all saying the same thing. Apparently this is almost exactly how the recent FX mockumentary Oil Storm started, which went on to depict the catastrophic effects on the economy. Except that in the movie it was only a Cat 4 hurricane.

  4. #4
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    Quote Originally Posted by FrankBooth
    Don't Believe The Hype
    Uh,

    Ok, Joe.

    I won't.
    Attached Images Attached Images

  5. #5
    mtbr member
    Reputation:
    Join Date
    Nov 2004
    Posts
    1,869
    Quote Originally Posted by Belfrey
    The meteorologists on a weather board my wife frequents (to keep up on Hurricane news) are all saying the same thing. Apparently this is almost exactly how the recent FX mockumentary Oil Storm started, which went on to depict the catastrophic effects on the economy. Except that in the movie it was only a Cat 4 hurricane.

    The opening line on the news this evening was that this hurricane could be the most powerful to ever hit US soil. Scary.

  6. #6
    banned
    Reputation: FrankBooth's Avatar
    Join Date
    Aug 2005
    Posts
    6,071
    Quote Originally Posted by Wasatch Walt
    Uh,

    Ok, Joe.

    I won't.
    Ahem...I've lived my entire live on the Gulf Coast and have gone through several hurricanes the media ALWAYS hypes them up 10X worse than they are yeah their will be some flooding and wind damage but i highly doubt all the other scare tactics your posting.

  7. #7
    the cool nerd
    Reputation: sportsman's Avatar
    Join Date
    Mar 2004
    Posts
    8,637
    Quote Originally Posted by FrankBooth
    i highly doubt all the other scare tactics your posting.
    yeah Walt, if God or his right hand man, Bush, didn;t say it than it can't possibly be true.

    but, I did see Bush on CNN (or something during channelsurfing) warning all the residents to bolt...
    "The search for a perfect pint should take lifetime." M.Jackson

    Ride bikes, not goats. Just good advice

  8. #8
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    Quote Originally Posted by sportsman
    yeah Walt, if God or his right hand man, Bush, didn;t say it than it can't possibly be true.

    but, I did see Bush on CNN (or something during channelsurfing) warning all the residents to bolt...
    Category V.

    Yeah, a little wind damage and some flooding I would say. Can you get wind damage from 175mph winds? Well, maybe a little. I imagine some leaves could come free and maybe flutter down or something. Flooding? A 20+ foot storm surge on the Gulf Coast wouldn't flood very much, would it?

    Hmmmm ... last year ... Ivan .... yeah ... that didn't do too much ... 2 billion in direct losses of underwater oil pipes due to mud avalanches precipated by the storm. Production took over 4 months to restore and many wells were lost forever.

    Yeah, Frank is right. He has lived on the Gulf Coast his whole life. Only about 75% of that was spent drunk and incoherent. So, he should know.

  9. #9
    mtbr member
    Reputation:
    Join Date
    Nov 2004
    Posts
    1,869
    Quote Originally Posted by crashtoomuch
    The opening line on the news this evening was that this hurricane could be the most powerful to ever hit US soil. Scary.
    Looks like the local news was taking some liberties...the latest from Noaa has it a #4 using barometric pressure as the measuring stick. Regardless, this is one huge, strong storm that is going to do some serious damage.

    5 PM EDT SUN AUG 28 2005

    KATRINA IS MAINTAINING A CLASSIC PRESENTATION ON SATELLITE
    IMAGES...AND CATEGORY 5 INTENSITY. THE CENTRAL PRESSURE MEASURED
    BY A NOAA HURRICANE HUNTER PLANE AT 1755Z AND 1923Z WAS 902
    MB...WHICH IS THE FOURTH LOWEST ON RECORD IN THE ATLANTIC BASIN
    BEHIND HURRICANE GILBERT OF 1988...THE LABOR DAY HURRICANE OF
    1935...AND HURRICANE ALLEN OF 1980. HAVING SAID THAT...DATA FROM
    THE STEPPED-FREQUENCY MICROWAVE RADIOMETER INSTRUMENT ON BOARD THE
    AIRCRAFT SUGGEST THAT THE SURFACE TO 700 MB FLIGHT LEVEL WIND RATIO
    IS NOT QUITE AS LARGE AS WE TYPICALLY USE...AND THE INITIAL
    INTENSITY IS ADJUSTED SLIGHTLY TO 145 KT. HURRICANES DO NOT
    MAINTAIN SUCH GREAT INTENSITY FOR VERY LONG. HOWEVER THERE ARE NO
    OBVIOUS LARGE-SCALE MECHANISMS...SUCH AS INCREASED VERTICAL
    SHEAR...TO WEAKEN KATRINA. THE HURRICANE IS LIKELY TO MAKE
    LANDFALL WITH CATEGORY 4 OR 5 INTENSITY.

    THERE IS NOT MUCH CHANGE TO THE TRACK FORECAST PHILOSOPHY. INITIAL
    MOTION IS ABOUT 315/11. KATRINA IS EXPECTED TO GRADUALLY TURN
    NORTHWARD INTO A BREAK IN THE SUBTROPICAL RIDGE ASSOCIATED WITH A
    LARGE MID-LATITUDE CYCLONE NEAR THE GREAT LAKES. THE 12Z GFDL
    HURRICANE MODEL'S TRACK HAS SHIFTED A LITTLE WESTWARD...AS HAS THE
    LATEST NOGAPS RUN. THE OFFICIAL FORECAST IS SLIGHTLY TO THE WEST
    AND SLIGHTLY FASTER THAN THE PREVIOUS NHC TRACK. THIS IS VERY
    CLOSE TO BOTH THE DYNAMICAL MODEL CONSENSUS... AND TO THE LATEST
    FSU SUPERENSEMBLE TRACK. AMONG OUR MOST RELIABLE MODELS...ONLY THE
    U.K. MET. OFFICE IS SIGNIFICANTLY TO THE EAST OF THE OFFICIAL
    FORECAST TRACK. IT SHOULD BE NOTED THAT THE SMALL CHANGE IN THE
    OFFICIAL FORECAST TRACK IS ESSENTIALLY AT THE NOISE LEVEL. ONE
    SHOULD NOT FOCUS ON THE EXACT TRACK...PARTICULARLY IN THE CASE OF A
    HURRICANE AS LARGE AS THIS ONE. DESTRUCTIVE EFFECTS WILL LIKELY BE
    FELT WELL AWAY FROM THE CENTER AND IT IS NOT POSSIBLE TO SPECIFY
    WHICH COUNTIES OR PARISHES WILL EXPERIENCE THE WORST CONDITIONS.

  10. #10
    banned
    Reputation: FrankBooth's Avatar
    Join Date
    Aug 2005
    Posts
    6,071
    Quote Originally Posted by Wasatch Walt

    Yeah, Frank is right. He has lived on the Gulf Coast his whole life.
    Of course I'm right because i do believe that Houston is somewhat closer to the Gulf Coast than Salt Lake City, Utah do you always keep posting silly replies when it's obvious your just plain wrong or is this just something new Walt?

  11. #11
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    Quote Originally Posted by FrankBooth
    Of course I'm right because i do believe that Houston is somewhat closer to the Gulf Coast than Salt Lake City, Utah do you always keep posting silly replies when it's obvious your just plain wrong or is this just something new Walt?
    Check.

    You convinced me.

    Are your arguments always this convincing?

    I sort of noticed your pro war ones are at this level too.

  12. #12
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    Quote Originally Posted by crashtoomuch
    Looks like the local news was taking some liberties...the latest from Noaa has it a #4 using barometric pressure as the measuring stick. Regardless, this is one huge, strong storm that is going to do some serious damage.
    wait till it hits that warmer water right at the mouth of the mighty missisipp.

  13. #13
    banned
    Reputation: FrankBooth's Avatar
    Join Date
    Aug 2005
    Posts
    6,071
    Quote Originally Posted by Wasatch Walt

    I sort of noticed your pro war ones are at this level too.
    of course i'm right because you can't come up with anything to counter other than name calling and changing the subject like you just did on this thread.

  14. #14
    transitional form
    Reputation: Belfrey's Avatar
    Join Date
    Jan 2004
    Posts
    3,583
    Quote Originally Posted by FrankBooth
    Ahem...I've lived my entire live on the Gulf Coast and have gone through several hurricanes the media ALWAYS hypes them up 10X worse than they are yeah their will be some flooding and wind damage but i highly doubt all the other scare tactics your posting.
    Thanks to the multidecadal cycle, your previous life experience concerning hurricanes means approximately diddly/squat.

    We got it bad all last year here in FL.... can't help but notice that they seem to be creeping westward a bit. Cat 5 is big, have a little respect... or don't, and be one of these people who go out driving and get hit by a falling tree or washed away in a flood.

  15. #15
    the cool nerd
    Reputation: sportsman's Avatar
    Join Date
    Mar 2004
    Posts
    8,637
    Walt,

    I'm surprised that you fell for this whole hurricane BS, actually I;m not surprised. You just watch the wrong news channels, visit the wrong websites, and pay attention to the wrong weather channels. Always follow the money.

    You, of all the f-88ers, should know better. This is just a plot between the oil industry and the Bush administration, they have both coopted the major weather channels to go along. Watch closely when they show footage of the 'devastation', pay particular attention to dates on the newspapers that are flying through the air. They are just recycling footage from last year's storm. :

    The footage that you are watching now was produced by Leanne Klein and Jonathan Hewes, the same people that produced Oil Storm Doesn't it strike you as too much of a coincidence that a major Cat 5 storm in the gulf coast should arise so soon after the airing of Oil Storm on tv, priming everyone to the disasters that can occur following a hurricane? I can't believe how naive you are

    The oil industry is just driving up prices, and Bush wants a diversion from Cindy Sheehan, a diversion from the Iraq war, and another excuse to prolong the Iraq war (to rebuild the oil infrastructure to replace what we are going to 'lose' in the gulf coast.)

    Just watch, Alex Jones will blow the cover right off of this scandal, b ut will you believe him? No, because you are just a sheople
    "The search for a perfect pint should take lifetime." M.Jackson

    Ride bikes, not goats. Just good advice

  16. #16
    the cool nerd
    Reputation: sportsman's Avatar
    Join Date
    Mar 2004
    Posts
    8,637
    Quote Originally Posted by Wasatch Walt
    Hey, just one quick question though. Do you think any sewers will be blocked up, like this one?.
    Do you think that anyone in the French Quarter would even notice?
    "The search for a perfect pint should take lifetime." M.Jackson

    Ride bikes, not goats. Just good advice

  17. #17
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    Quote Originally Posted by FrankBooth
    of course i'm right because you can't come up with anything to counter other than name calling and changing the subject like you just did on this thread.
    Hey Frank!

    You "got" me.

    Your logic is impeccable, or a peccadillo, whatever describes it.

    When you tell me to not look at the man behind the curtain, just like Bush tells the US not too, I don't. I promise!

    I have COMPLETELY wiped from my mind all those facts about Cat. V hurricanes and the fact, oops, I mean media hype, that this ..... mild thunderstom has New Orleans in it's gunsight ... I mean ... could come close, brush by .... something ...

    I have COMPLETELY forgotten about the oil price rise, production loss ...errr ... I mean gain, from Ivan ... oh, Ivan sounds so rough ... let's just call it Sammy Boy between you and me ....

    I have FORCED myself not to remember that Katrina ... I mean Beth, is so much more powerful, ... errrr .. I mean ... mildly robust .... than ... Sammy Boy.

    I am with YOU Frank, you have lived on the Gulf Coast your WHOLE LIFE.

    Hey, just one quick question though. Do you think any sewers will be blocked up, like this one?

    Dead dog blamed for sewage backup in Utah

    August 28, 2005


    PROVO, Utah --Paul Dalebout wasn't happy to come across a foot of raw sewage in the basement of his house, but it was a bathroom that left him horrified: "It was just gushing up out of the toilet like a geyser."

    Dalebout's houses was among 17 in Provo's Edgemont neighborhood left wallowing in a backup of sewage Friday that gurgled through drains and toilets.

    Authorities blamed a dead dog stuffed down a sewer manhole and opened a criminal investigation. They found the dog's owner from an identifying chip implanted in it. The owner said the dog had been missing.

    Provo offered to reimburse homeowners for the cost of hiring professional crews to clean up their houses -- for a second time since asphalt chunks clogged their sewer line five years ago. Other Provo sewer lines have yielded bowling balls and carpet scraps.

    This time crews snaked a high-pressure hose with a spiked end into a manhole to clear the sewer main, dislodging the corpse of the large dog.

    "I can't take this anymore. We're going to have to move," said Dalebout's wife, Donna. "It's all the neighbors' sewage coming up here in our basement, just like it did five years ago. I can't take it again. I'm too old for this."

    Paul Dalebout said, "We're like the hurricane victims."

    Provo Public Works Director Merill Bingham said someone had to lift a manhole cover to drop the dog into the sewer line. He said sewer backups weren't uncommon -- the city deals with about five incidents a year -- but that it was "extremely unusual" to strike the same houses twice in five years.

  18. #18
    the cool nerd
    Reputation: sportsman's Avatar
    Join Date
    Mar 2004
    Posts
    8,637
    All night long, in an airplane high above the Atlantic, FrankBooth built a large sandcastle, and playing a baby grand piano he fled from the scene.
    "The search for a perfect pint should take lifetime." M.Jackson

    Ride bikes, not goats. Just good advice

  19. #19
    banned
    Reputation: FrankBooth's Avatar
    Join Date
    Aug 2005
    Posts
    6,071
    I'm gonna look back and laugh at this thread just like i did when y'all ( liberals ) were all giddy over the Karl Rove stuff that i told y'all was nothing. I'll keep close watch on my bloomberg computer tomorrow at work and see those gas prices go to $70/bbl. Maybe $80. I wonder when mushypeas is going to chime in with his kook theory about how George Bush caused this hurricane just like he was responsible for the Tsunami last year.

  20. #20
    Elitest thrill junkie
    Reputation: Jayem's Avatar
    Join Date
    Jul 2005
    Posts
    18,511
    Quote Originally Posted by sportsman

    The oil industry is just driving up prices, and Bush wants a diversion from Cindy Sheehan

    LOL...yeah, Bush invented the hurricane...

    Lets get started with the consipiracy theorys already....

  21. #21
    the cool nerd
    Reputation: sportsman's Avatar
    Join Date
    Mar 2004
    Posts
    8,637
    Quote Originally Posted by FrankBooth
    I wonder when mushypeas is going to chime in with his kook theory about how George Bush caused this hurricane just like he was responsible for the Tsunami last year.

    read further young padwai
    "The search for a perfect pint should take lifetime." M.Jackson

    Ride bikes, not goats. Just good advice

  22. #22
    the cool nerd
    Reputation: sportsman's Avatar
    Join Date
    Mar 2004
    Posts
    8,637
    Quote Originally Posted by Jayem
    LOL...yeah, Bush invented the hurricane...

    Lets get started with the consipiracy theorys already....
    do you think that I'm kidding? the black copters are in the air and Bush is reading about goats
    "The search for a perfect pint should take lifetime." M.Jackson

    Ride bikes, not goats. Just good advice

  23. #23
    banned
    Reputation: FrankBooth's Avatar
    Join Date
    Aug 2005
    Posts
    6,071
    Quote Originally Posted by sportsman
    do you think that I'm kidding? the black copters are in the air and Bush is reading about goats
    Damn yall are stupid this is all about Halliburton getting the no-bid contracts for the hurricane aftermath re-construction of New Orleans

  24. #24
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    hmmmm .....

    "Hurricane Ivan last year, which reduced the area's yearly output by 7 percent after destroying 7 platforms and damaging more than 100 underwater pipelines. The Gulf of Mexico accounts for about a quarter of the nation's overall domestic oil production."

    Oh, Frank!!

    You caught me!!!

    I was looking at the man behind the curtain, but I won't do it again, I promise!!!

  25. #25
    banned
    Reputation: Wasatch Walt's Avatar
    Join Date
    Jan 2004
    Posts
    20,178
    Quote Originally Posted by gmaki

    Only problem is I can't figure out of this is going to make my Valero and Premcor stock go up or down.

    that's a good question.

    I don't know where their refineries are exactly.

    In the medium term, up I think.

    I wouldn't worry about the short term ... but mebbe so ... go to their web sites and look up their facilities.

Page 1 of 2 1 2 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •