Rita and oil peaks

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Rita and oil peaks

Postby Emery » Wed Sep 28, 2005 4:05 am

Rita causes record damage to oil rigs <br><!--EZCODE AUTOLINK START--><a href="http://news.ft.com/cms/s/034a384e-2f8a-11da-8b51-00000e2511c8.html">news.ft.com/cms/s/034a384...511c8.html</a><!--EZCODE AUTOLINK END--><br><br>Nice edge to the peaking dis-info, preparing you for deeper pockets. <p></p><i></i>
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Postby Homeless Halo » Wed Sep 28, 2005 4:40 am

All the more reason to oil up my bike chain. <p></p><i></i>
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Here comes the next wave of hype

Postby Emery » Thu Sep 29, 2005 3:46 am

"OK, it's bad. There are dozens of rigs and platforms damaged, missing or sunk. Katrina put the whammy on production platforms, and Rita slammed the drilling rigs. I've got some pix to forward to you tomorrow. Some of the rigs are upside down, others are twisted and destroyed, still others are just plain gone...either sunk or drifting.<br><br>As I have been telling anyone willing to listen, there really is no such thing as Peak Oil, as far as I can tell. The real problem is a complete lack of infrastructure for moving and refining oil and gas, as well as a serious shortage of drilling rigs, tankers and refineries. The situation was close to dire before the storms. It is critical now.<br><br>Over the past couple of decades, there has been little investment in tankers, new drilling rigs and refineries. As a consequence, we may be running out of gasoline while drowning in oil. This is the cause of the disconnect recently between pump price and barrel cost. All the storage areas are full of oil, the problem is there is no scalable means to refine it and/or ship it. Even starting this minute, the supply can not be increased by even one for the next three to five years."<br><br><!--EZCODE AUTOLINK START--><a href="http://www.goroadachi.com/etemenanki/blog-05sept.htm#092705">www.goroadachi.com/etemen...htm#092705</a><!--EZCODE AUTOLINK END--><br><br><br> <p></p><i></i>
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