Economy 53,131 Posted December 6, 2015 Share Posted December 6, 2015 http://www.cnbc.com/2015/12/04/energy-companies-choose-storing-oil-over-selling-it-cheap.html Some of the better off oil companies that dont require cash revenue immediately are building underground caverns and their own storage space to store away some of the oil they produce they are upset that to pay off what they invested they need $50-$70 a barrel to break even and oil is at $40 a barrel so they hope if they save it, they can sell it later when prices finally rebound Link to post Share on other sites More sharing options...
VenusBlackStar 1,301 Posted December 6, 2015 Share Posted December 6, 2015 The headline alone is giving me some Mad Max teas, like the mess that happens before the world falls apart. Link to post Share on other sites More sharing options...
Goosey 3,017 Posted December 6, 2015 Share Posted December 6, 2015 They plan to 'stache away oil? "I am the world's greatest person that does not want to let people into the country."—US President Donald J. Trump Link to post Share on other sites More sharing options...
wahkeenasitka 1,995 Posted December 6, 2015 Share Posted December 6, 2015 spell it correctly. it's STASH. Link to post Share on other sites More sharing options...
Melech 9,900 Posted December 6, 2015 Share Posted December 6, 2015 Well obviously. Oil will run out in the next 100-150 years Link to post Share on other sites More sharing options...
Economy 53,131 Posted December 6, 2015 Author Share Posted December 6, 2015 5 hours ago, Simon said: Well obviously. Oil will run out in the next 100-150 years No it wont. First of all every oil peak theory up until now has been wrong for the past 100 years as pessimists always underestimate how much new oil we will find and most importantly how much new in place reserves we turn into "recoverable" reserves with new technology people think were running out yet proven recoverable global reserves at 1.6 trillion barrels is an all time record! Theres more oil available to us now than ever before And oil doesnt just run out and it never will technically run out. Oil dynamics and reserves are a lot more complicated than that id be more worried about global warming than oil supply which will not be an issue to our society Link to post Share on other sites More sharing options...
Economy 53,131 Posted December 6, 2015 Author Share Posted December 6, 2015 7 hours ago, wahkeenasitka said: spell it correctly. it's STASH. Thanks for pointing it out but... i hate it when i write a whole OP and the commemts instead of being ralated to it are always about my spelling mistakes Link to post Share on other sites More sharing options...
.thumb.jpg.99c40bc2a10ded8236a48b4fe15c6be8.jpg)
Featured Posts
Archived
This topic is now archived and is closed to further replies.