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RE: Alaskan Oil - 8/8/2006 7:31:17 AM

MHOO314

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That equates to 400,000 barrels of crude lost ( I can't remember if it was per day or per week) ---My question is where the hell was OSHA, they are required to inspect all rigs 2x a year and most are surprise inspections---you had to know some of that was coming out in the oil---

Me thinks some thing "greased" someone's palms---and it wasn't corroded oil.

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RE: Alaskan Oil - 8/8/2006 7:42:34 AM

StrongButKind

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quote:

ORIGINAL: WyrdRich

quote:

ORIGINAL: popeye1250

Not surprising since that pipeline is 30 years old.
It only constitutes 1/2 of 1 % of world oil production.

But according to the radio this morning, it is 8% of our domestic consumption. That is significant. Can we all just agree that President Bush will cut a deal to the oil companies on oil in the SPR and not go there?

8% of domestic production, not consumption. We are a net importer (understatement of the day). This translates roughly to 2.5% of our daily supply (including both domestic production and imports).

The SPR has ~ 700,000,000 barrels of oil; this disruption costs ~ 400,000/day, so the SPR can easily handle this outage, even if it extended several years. Which it won't. Prices will go up. In principle, if the reserve is used to protect the market, there would be a very small increase at the time the reserves are replenished. In practice, due to speculative markets, there will be a small but excessive increase immediately which will reduce in time. Because this is not a real market force, it will mostly go to oil company and investor profit. Such is life in capitalism (the worst economic system except for all the other ones).

< Message edited by StrongButKind -- 8/8/2006 7:49:02 AM >

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RE: Alaskan Oil - 8/8/2006 11:40:27 AM

Kedikat

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quote:

ORIGINAL: MHOO314

That equates to 400,000 barrels of crude lost ( I can't remember if it was per day or per week) ---My question is where the hell was OSHA, they are required to inspect all rigs 2x a year and most are surprise inspections---you had to know some of that was coming out in the oil---

Me thinks some thing "greased" someone's palms---and it wasn't corroded oil.

Seems the pipeline systems are inspected at long intervals. An article I just read and can't find the link to now, said the last internal inspection was early to mid nineties. A large leak happened, and a new inspection found weak corroded areas. The flow has decreased over the years by about 50% ( Prudhoe has peaked and is in decline ) So the interior of the line is more apt to corrode.

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RE: Alaskan Oil - 8/9/2006 8:09:31 PM

Submotive

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This whole thing is solvable. BUT - and here is definitely the hitch - we would all have to be REALLY inconvenienced to do it. Everyone just stop driving autos - ride a bike, hire a horse and buggy - anything but don't use your car. If ALL industry was affected by this because no one was showing up for work because well "waaaaa - sorry but the cost of gas is too high and i just can't get in today." They might give it some serious consideration.

We haven't had a healthy revolution in our country for ages. As a result those who are reaming us keep on reaming because they can. The same thing goes for what is in reality unconstitutional - income tax. If even 75% of the population stopped paying income tax something would have to change.

We have been strongholded and moved around like cattle for so long that we've forgotten we're people - ahem - ya know that phrase - "of the people, by the people and for the people."

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