Saw Diesel For £1.31 in Bristol Today!!!

[mark.neale]

Is this a record, or is it a similar price near you?

Are these fuel prices hurting your business or family budget?

Where's it going to end?

 

[Steve]

Its cheaper at the motorway services

And it will end when we run out of oil. Simple.

 

[joe-90]

It's never going to end - and it's far more serious than not having cheap fuel.

 

[Adam_151]

And it will end when we run out of oil. Simple.

We won't run out of oil, it'll end when the price of oil rises high enough that alternatives become viable

 

[joe-90]

And it will end when we run out of oil. Simple.

We won't run out of oil, it'll end when the price of oil rises high enough that alternatives become viable

Tell us what they are then.

 

[noseall]

there are billions of gallons of crude oil beneath our oceans.

it is just more costly to extract than oil beneath dry land.

suppliers of oil drilling and well head equipment have never been busier or richer.

there is a lot of truth in the gossip, when you hear that oil producing companies deliberately restrict production to keep prices high.

 

[joe-90]

Wrong. There have been no major discoveries since the late 60s.

There will always be oil (Alberta oil sands/ shale oil etc) but it is the cost that matters. Our civilisation is built on CHEAP oil - not expensive oil.

 

[noseall]

Wrong. There have been no major discoveries since the late 60s.

There will always be oil (Alberta oil sands/ shale oil etc) but it is the cost that matters. Our civilisation is built on CHEAP oil - not expensive oil.

http://nexttrade.blogspot.com/2006/09/crude-oil-may-go-to-usd63-65-in-next.html

Joe, i have a relative who has just returned from Houston and is in the oil business. there IS oil being dicovered. FACT.

 

[joe-90]

No there isn't. The USA uses 20 million barrels of oil per day. An american billion isn't the same as a British billion - so you do the maths and tell me how long 3 (American) billion barrels of oil will last. End of the century? You tell us.

 

[joe-90]

C. J. Campbell, February, 2002

“The oil-drilling rig count over the last 12 years has reached bottom. This is not because of low oil price. The oil companies are not going to keep rigs employed to drill dry holes. They know it but are unable ... to admit it. The great merger mania is nothing more than a scaling down of a dying industry in recognition that 90% of global conventional oil has already been found.”
— Goldman Sachs, Energy Weekly, August 11, 1999




http://healthandenergy.com/oil_crisis.htm

 

[noseall]

whatever Golman Sachs wrote in 1999 has no bearing upon a conversation i have had at 1:50pm today.

the oil industry is "booming", fact.

so, joe no new oil discoveries then?

 

[joe-90]

Let's here them then. You have a friend of a friend that says what?

I ask you again. How long will 3 billion barrels of oil last the world? You know that great massive discovery in the Gulf of Mexico? Figures please.

Gimme facts - not gossip.

 

[noseall]

i cannot argue with you about how long 15 billion barrels of crude oil will last as i haven't got a clue.

all i know is there are new discoveries of oil and the supply of oil extraction equipment is thriving.

 

[joe-90]

No it's not - your mate from the pub is talking gibberish.

3 billion barrels. The world uses around 90 million barrels per day.

1 billion = 1000 million. At 90 million barrels per day one billion barrels will last 11 days. Multiply that by 3 to give the oil reserves in the Gulf and you get 33 days - or about a months supply.

 

[noseall]

all i know is there are new discoveries of oil and the supply of oil extraction equipment is thriving.

it was you who said otherwise and i have proved this statement wrong.

by the way the article i provided a link to used the word 'vast'. big enough to affect the cost of crude oil.