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Old 16-01-2016, 00:36   #41
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Cos you and eg keep eating it all. Supply and demand
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Old 16-01-2016, 00:42   #42
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you do skinny fat get
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Old 25-12-2017, 00:10   #43
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Quote:
Originally Posted by Malcolm Tucker View Post


how mental is that enoch, I remember when people were saying it would be $200 a barrel by now
It's happening

Quote:
Oil companies discovered less oil and gas this year 7 billion barrels than any year on record, the Norwegian research firm Rystad Energy reported on Thursday.
http://www.chron.com/business/energy...w-12447212.php

(May not be peak yet, but it's coming )
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Old 25-12-2017, 00:11   #44
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Wow was having a nice day on here until everyone went back to being a snidey nosey cunt

Why don't you all fuck off and hope you all have a n shite Christmas pricks
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Old 26-12-2017, 00:01   #45
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Originally Posted by Enoch Powell View Post
It's happening


http://www.chron.com/business/energy...w-12447212.php

(May not be peak yet, but it's coming )
Obviously it's coming at some point. But that could well be to do with them cutting back on exploration, no? A friend works in that industry and the day rates have dropped massively/there's far less work/etc... and if companies are cutting back on exploration because the price is shit, we'll find less.
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Old 26-12-2017, 00:02   #46
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Oh, it says so in the link .

Quote:
Passos in part blamed exploration budgets, which she said have decreased for three consecutive years, falling by more 60 percent in total.
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Old 26-12-2017, 00:50   #47
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Originally Posted by Moses View Post
Obviously it's coming at some point.
Glad you think so, because quite a few people literally think peak oil is a 'conspiracy theory' and production will literally never peak.

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But that could well be to do with them cutting back on exploration, no? A friend works in that industry and the day rates have dropped massively/there's far less work/etc... and if companies are cutting back on exploration because the price is shit, we'll find less.
Makes sense that would be part of it at least, how much I don't know. I assume they explore to some degree regardless of price as you can hardly wait until the price is high and then say right, let's go and explore. If they were to find oil now which needs $100+ a barrel to be worth actually extracting, they can just sit on it until the price inevitably rises in future. It is added to proven reserves and helps increase their stock price as well etc.
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Old 26-12-2017, 00:51   #48
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1000 HOURS ON OIL PRODUCTION SIMULATOR
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Old 26-12-2017, 03:29   #49
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Quote:
Originally Posted by Enoch Powell View Post
Glad you think so, because quite a few people literally think peak oil is a 'conspiracy theory' and production will literally never peak.


Makes sense that would be part of it at least, how much I don't know. I assume they explore to some degree regardless of price as you can hardly wait until the price is high and then say right, let's go and explore. If they were to find oil now which needs $100+ a barrel to be worth actually extracting, they can just sit on it until the price inevitably rises in future. It is added to proven reserves and helps increase their stock price as well etc.
Well yes, hence why it's been slashed 60%. That still leaves a lot of scope for exploration. But they'll pick safer bets to look at etc, rather than more speculative surveys. Or just fewer surveys so they can pay people less (my friend's day rate has halved for example... they've cut the number of jobs so now the market is flooded with staff all willing to work for far less). Or fewer is hostile/shit areas you have to pay people more to go to. Etc.
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Old 26-12-2017, 14:25   #50
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https://www.rt.com/news/414265-libya...ine-explosion/
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