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Title: The North Dakota Crude Oil That's Worth Less Than Nothing
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URL Source: http://www.bloomberg.com/news/artic ... that-s-worth-less-than-nothing
Published: Jan 18, 2016
Author: Dan Murtaugh
Post Date: 2016-01-18 09:02:53 by Ada
Keywords: None
Views: 431
Comments: 20
General Economic Imagery From North Dakota Ahead Of The Republican Primary Negative energy prices are rare but not unprecedented. Propane traded at a negative value in Edmonton, a key pipeline hub in oil-rich Alberta province, for about three months last year. Photographer: Daniel Acker/Bloomberg Flint Hills values North Dakota Sour crude at -$0.50 a barrel Crude prices based on sulfur content and transport costs Oil is so plentiful and cheap in the U.S. that at least one buyer says it would need to be paid to take a certain type of low-quality crude. Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said it would pay -$0.50 a barrel Friday for North Dakota Sour, a high-sulfur grade of crude, according to a list price posted on its website. That’s down from $13.50 a barrel a year ago and $47.60 in January 2014. While the negative price is due to the lack of pipeline capacity for a particular variety of ultra low quality crude, it underscores how dire things are in the U.S. oil patch. U.S. benchmark oil prices have collapsed more than 70 percent in the past 18 months and West Texas Intermediate for February delivery fell as low as $28.36 a barrel on the New York Mercantile Exchange on Monday, the least in intraday trade since October 2003.
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#1. To: Ada (#0)
I can't help but wonder if this, too, is a problem that wouldn't exist (or would be far less serious) if not for our gross OVERPOPULATION. What are the chances this far northern oil rush would even have happened if our population were still a sensible 100- 150 million? Less people = less pressure on natural resources, that seems inevitable. What amazes me is that there's an endless supply of metal for making battleships (average usage lifespan =?), skyscrapers (whole cities standing empty in China), throwaway pie plates etc.
What's your solution for gross overpopulation? Flashes of Ebeneezer Scrooge and workhouses for the excess population come to mind.
The only hope is to educate people and point out the painfully obvious facts, which is to say only mother nature can fix it now in her accustomed ham-handed fashion -- hopefully after I'm gone :-x Jimmy Carter demanded human rights for the Chinese e.g. leaving the worker's paradise, but the premier responded "Fine! How many hundred million will you be taking in?" >GULP<
The Chinese did have a solution to their overpopulation which seems to have worked too well. Now they are permitting those in rural areas to have more than one child. Nature's solution is worse than the Chinese solution although Nature's solution often comes out of China, bird flu, swine flu, Ghenghis Khan, etc. Population growth is a Ponzi scheme. Those that come in late pay for those who signed up early. IOW who is going to support all those Chinese parents when they grow old?
Excellent question. Let's face it, the prospect of getting old is a big reason most people have kids. In other words, babies are sentenced at birth to serve as caretakers, some for 10 anguished years or more -- then to repeat the process when they become dependent on others to get through each day. I was happy to for my folks, but will never be the same after the trauma of seeing and knowing their traumas. Break the cycle -- stop the tragedy. Join today, world!!
You surprise me. I haven't read the link all the way through but I should like to discuss it with you.
Start talking. I was a great fan and booster of big families most of my life, then finally saw what our species was really about..... better late than never.
I have to start this gradually. First, if I understand the movement, it is not about death but about life. Voluntary (emphasis on that word) sacrifice so that others may live. Greater love hath no man than this, that a man lay down his life for his friends. Or other species. It is not about euthenasia although that might come into it at some point. Not talking this sort of crap. www.dailymail.co.uk/news/...white-knuckle-ride-death- Euthanasia-rollercoaster-thrill-experts-warn-spend-final-moments-feeling- SICK.html Is there an alternative other than voluntary extinction? Malthus was proved wrong or at least premature in 18th and 19th century Europe when the Western Hemisphere was opened up to absorb excess population. (Europeans who immigrated to America had large families while their sisters who stayed in the old country were restricted.) Could technology be a solution? Who needs those oil fields when sunlight can be harnassed to run your refrigerator. An unlikely alternative would be emigration to other worlds. What about the religious aspect?
Let's continue this one by email if you don't mind (oppositeof my usual exhortation). Most people really, REALLY don't want to go there!
Okay.
The planet is (practically) made of iron - and nickel. ; ] "If ignorance is truly bliss, then why do so many Americans need Prozac?" - Dave McGowan
Most of it is unfortunately thousands of miles below the surface at the core. John Howard says: There are 4 schools of economics: How to End the Refugee Flood That is true, dog. However, there is one helluva lot of it available in the Earth's crust. We ain't running out of it soon. "If ignorance is truly bliss, then why do so many Americans need Prozac?" - Dave McGowan
That begs the question when do we start running out of what's readily accessible. Even if it's only 500 years away, that's a crisis and we don't need people living then to curse us for our profligacy.
I stand convicted. In my neighborhood I am known as the pie plate profligate. Some of us are just incorrigible. "If ignorance is truly bliss, then why do so many Americans need Prozac?" - Dave McGowan
If you want to be flippant, the proper answer is "They're made of plastic now anyway, hyuk hyuk hyuk".
Oh no. We're not to be flippant with HM NN since he's take over the forum. Watch yer language & comportment youngsters. "If ignorance is truly bliss, then why do so many Americans need Prozac?" - Dave McGowan
Taken over? This is getting wilder by the minute. I could have sworn Obnoxiety and JT had for awhile there -- they were quite, uh, prominent. I go overboard sometimes but am subject to correction and remorse. Others hurl actual vituperation with no warning, excuse, rhyme nor reason about it -- or censure for that matter. It's a free country and I'm allowed to respond to things same as everybody -- air I not?
The fact is clearly that it's replenishable and that it must push itself to the surface or whatever. But clearly, clearly, there is not nor ever was any "shortage" of oil. Only fools continue to believe that fairy tale, but hey, our modern world is build around fairy tales, eh.
You are. I'm just pushing yer buttons. Don't mind me. "If ignorance is truly bliss, then why do so many Americans need Prozac?" - Dave McGowan
#2. To: NeoconsNailed (#1)
I can't help but wonder if this, too, is a problem that wouldn't exist (or would be far less serious) if not for our gross OVERPOPULATION
#3. To: Ada (#2)
#4. To: NeoconsNailed (#3)
#5. To: Ada (#4)
#6. To: NeoconsNailed (#5)
vhemt.org/
#7. To: Ada (#6)
#8. To: NeoconsNailed (#7)
Start talking. I was a great fan and booster of big families most of my life, then finally saw what our species was really about..... better late than never.
#9. To: Ada (#8)
#10. To: NeoconsNailed (#9)
Let's continue this one by email if you don't mind (oppositeof my usual exhortation). Most people really, REALLY don't want to go there!
#11. To: NeoconsNailed (#1)
What amazes me is that there's an endless supply of metal for making battleships (average usage lifespan =?), skyscrapers (whole cities standing empty in China), throwaway pie plates etc.
#12. To: randge (#11)
The planet is (practically) made of iron - and nickel. ; ]
Marxism: steal everything
Keynesianism: steal by counterfeiting whenever needed
Chicago school (Milton Friedman): steal by counterfeiting at a steady, predictable rate
Austrians: don't steal
'Wiped off the Map' – The Rumor of the Century
#13. To: PnbC (#12)
#14. To: randge (#13)
#15. To: NeoconsNailed (#14)
throwaway pie plates etc.
#16. To: randge (#15)
#17. To: NeoconsNailed, All (#16)
#18. To: randge (#17)
#19. To: randge (#13)
However, there is one helluva lot of it available in the Earth's crust. We ain't running out of it soon.
#20. To: NeoconsNailed (#18)
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