Last Generation?

[DJR-351]

Originally Posted by ltd_on20s

while this is a rather simplistic view.... oil is just dead organic matter compressed under heat and load

oil can be made from pretty much anything organic

plants, animals even humans (just an example no advocating of compressing dead humans)

but not just that, any old rubber, plastics etc its base is mde from petroleum products

there is a few plants now operating in the US and their sole purpose it to make old crap back into oil(Re above, minus humans of course) is to try and emulate the oil making process in a much shorter time frame

time shall see if these guys can open a new way of making oil and breaking some of these oil companies monopolies.

by the way, all these people who say it cost a lot of money to find oil, fair enough, but BP's quartely profit in oct 2008 was over $10 BILLION, and thats one quarter for one company

its obscene and yes we are getting the short end of the stick.

1 X Drill Rig = $320.000 per day.
2 X Rig Tenders = $50.000ea per day.
2 Week Drilling program.
Ancillarys, well, Chopper hire, extra equip, supply, breakdowns etc etc, say $1,000.000. (Probably being conservative there)

The above was for 1 hole with no guarantee of success, do the math.
And this is going on across the globe with hundreds of rigs etc evey day.

$10 Billion seems a lot off money to us but in the overall scheme of things is not much, a fair hunk of that will be reinvested in exploration and research.

Dont get me wrong the owners/shareholders are getting stinking rich out of this, but is that not what Democracy is all about, if you want a slice of the cake buy some shares.......

[ltd_on20s]

err but thats all already been paid for. the $10 billion was profit only for one quarter. what they made AFTER all their costs had been taken into account........thats what profit is

my note on it being obscene was purely that yes people have shares, and people are getting filthy rich, but does that mean a 30+ billion dollar profit is right? ethically? when we know how many new sources/technologies etc are out there?

[Green X]

Petrol is going up again cause Oil production has been cut back to drive the crude oil price up as all these Big Oil and gas projects have been budgeted on a oil/gas price way above what Crude and LPG has been fetching in the parst few months!!

Supply and demand, Demand for a product was cut, there was too much supply so production was cut back and now prices have gone up again.

[flappist]

Originally Posted by Powdered Toast Man

Ahh Diesel trains are electric. The diesel engine is just a big generator.
MAD you beat me to it

But I agree with Raptor, electric is the way to go. Electric motors can be extremely powerful. It's battery storage that needs to be improved

Not all of them, There were lots of diesel hydraulic locos built at Walkers in Maryborough and operated all over Australia

e.g.

http://www.arhsact.org.au/rollingstock/7315.php

[DJR-351]

Originally Posted by ltd_on20s

err but thats all already been paid for. the $10 billion was profit only for one quarter. what they made AFTER all their costs had been taken into account........thats what profit is

my note on it being obscene was purely that yes people have shares, and people are getting filthy rich, but does that mean a 30+ billion dollar profit is right? ethically? when we know how many new sources/technologies etc are out there?

Try reading it again mate, carefully this time, i did not say the costs quoted came out of your $10b profit, i only quoted the numbers as an example of what it costs to find the stuff,

And thank you but as far as knowing what profit is, i do know, but not sure you would know what to do with it, where do the think future costs come from........?? that is unless you go **ts up and get a hand out from the Gov like some of the car giants......

[ltd_on20s]

Originally Posted by XA351COUPE

Try reading it again mate, carefully this time, i did not say the costs quoted came out of your $10b profit, i only quoted the numbers as an example of what it costs to find the stuff,

And thank you but as far as knowing what profit is, i do know, but not sure you would know what to do with it, where do the think future costs come from........?? that is unless you go **ts up and get a hand out from the Gov like some of the car giants......

fair enough. ill take your point on that they need to invest it further down the track

however most of the car companies did have plenty of reserve cash. it still didnt help them fall over tho did it....

would you not expect them tho to devote a lot of their energy into new tech's like the one i posted earlier? rather then just keep drilling?

[ltd_on20s]

Originally Posted by XA351COUPE

Try reading it again mate, carefully this time, i did not say the costs quoted came out of your $10b profit, i only quoted the numbers as an example of what it costs to find the stuff,

And thank you but as far as knowing what profit is, i do know, but not sure you would know what to do with it, where do the think future costs come from........?? that is unless you go **ts up and get a hand out from the Gov like some of the car giants......

fair enough. ill take your point on that they need to invest it further down the track, are not those costs tax deductable tho?( if in aust...)

however most of the car companies did have plenty of reserve cash. it still didnt help them fall over tho did it....

would you not expect them tho to devote a lot of their energy into new tech's like the one i posted earlier? rather then just keep drilling?

[FGII-XR6]

all this doom and gllom was around in the 70s too and of course we haven't seen big and powerful cars since then [/ sarcasm off ] there will always be people around that want the adrenalin rush of a powerful machine and that will never die

[DJR-351]

Originally Posted by Green X

Petrol is going up again cause Oil production has been cut back to drive the crude oil price up as all these Big Oil and gas projects have been budgeted on a oil/gas price way above what Crude and LPG has been fetching in the parst few months!!

Supply and demand, Demand for a product was cut, there was too much supply so production was cut back and now prices have gone up again.

Spot on..... :

The oil companies want to go into deeper water to tap into the reserves down there, but as mentioned earlier the cost of doing this skyrockets and cannot be done while the present price of a barrel remains low.

There are a lot of big budget projects that have been put on the backburner until they become financally viable again.

[DJR-351]

[QUOTE=ltd_on20s]fair enough. ill take your point on that they need to invest it further down the track, are not those costs tax deductable tho?( if in aust...)

however most of the car companies did have plenty of reserve cash. it still didnt help them fall over tho did it....

would you not expect them tho to devote a lot of their energy into new tech's like the one i posted earlier? rather then just keep drilling?[/QUOTE]

Agree totally with you here, BP Solar is one that i know of, the trouble is while the demand for fosil fuels remains high they will keep drilling till the well is dry, dont get me wrong we are not running out of fosil fuel in the immediate future, they are just getting harder to get at, re the costs which are passed down to the bowser.

To the question of tax brakes, yes Governments love oil companies and will bend over backwards to help them out....... :

[jphanna]

If in the future, on a given sunday (usually sunny) a person cannot hear the sound of a crisp 351/302/350/327/308 sitting in a in a classic aussie sports sedan or coupe in some country back road, then for the people like me that dont have one, it will be a sad day.

lucky for me, my big brother (who taught me the words 'Allan Moffat' before i learnt to say mum or dad), had a soft spot for ford v8's. he had many V8's though the 70's/80's/90's and now he has a tickford 302 AU XR8 with IRS. i visit him often on weekends...