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2007-2008 Crude Oil Cost


Pumapayam

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There is hope yet for gas prices. Notice cost of $7 billion to refine an additional 325,000 barrels per day.

Motiva Port Arthur Refinery to Become Largest in United States

27-Sep-2007

The owners of Motiva Enterprises LLC, Shell

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OMG, thank god someone is investing back in refineries. This can't be soon enough.

Don't get too excited. The annual gasoline production capacity of this expansion is about2.25 Billion gallons. Between now and 2010, when this expansion is complete, the annual US total gasoline consumption is expected to increase 9 billion gallons. We would need four of these refineries by 2010 just to stay even with where we are today.

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Don't get too excited. The annual gasoline production capacity of this expansion is about2.25 Billion gallons. Between now and 2010, when this expansion is complete, the annual US total gasoline consumption is expected to increase 9 billion gallons. We would need four of these refineries by 2010 just to stay even with where we are today.

That doesn't mean that it isn't big news worthy of being excited about.

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That doesn't mean that it isn't big news worthy of being excited about.

Mmm...kind of depends. I was more interested in the statement that, due to construction cost increases, the total of all refinery expansions dropped from 1.8 million barrels to around 1 million. This will insure that refining capacity remains tight for several more years.

So, no, this one project did not excite me too much.

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Mmm...kind of depends. I was more interested in the statement that, due to construction cost increases, the total of all refinery expansions dropped from 1.8 million barrels to around 1 million. This will insure that refining capacity remains tight for several more years.

So, no, this one project did not excite me too much.

Nobody is saying that it is a cure-all to the grander problem, but for one refinery to be so large IS impressive, and that it could by itself make up for about a quarter of the projected demand increase IS also impressive. And aside from all that, who in their right mind wouldn't be excited at any venture costing $7 billion that is essentially taking place in our backyard?

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So, no, this one project did not excite me too much.

This won't be the only major refinery exansion in Port Arthur alone.

Valero and Total are also planning major expansions, too. But the Motiva one is the only one already underway.

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It does. And I'm glad i'm not the only one who noticed.

and it also depends on where that ethanol is coming from. it cost more and takes more energy to produce ethanol from corn (my sister-in-law likes to call it a "cornopoly") than from sugarcane which produces a higher yeild of energy thats cleaner. im also interested in all these "flex-fuel cars" that i see on the road, but again it begs the question. where/how is the person getting the ethanol and where is it coming from?

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It's trading above $113 per barrel.

REALLY, when will the madness stop.

This will surely domino leading into a economic disaster, riots, shortages. We can't take anymore, go back down to $60 a barrel. This is just getting ridiculous, it's not even summer and we don't even have a Gulf Storm yet!

Thank god for the economic stimulus package $$$, which going right back into oil, and back to OPEC and oil companies. :rolleyes:

Nice work Bush! :angry2: You enter office with oil below $40, and likely will leave with a $120 legacy.

DAMN! :huh:

What the heck caused this?

$80?

Funny how attitudes change, back in September, I was whining about the cost pushing $80.

It's sad that I would marginally find that acceptable, whereas a half a year ago, I was shocked.

I am shocked again now, ask me again in August 2008 and see if $113 is acceptable to me.

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Nice work Bush! :angry2: You enter office with oil below $40, and likely will leave with a $120 legacy.

Four words: Value of the Dollar. Whose fault is that? Is it Bush? Considering that the M1 money supply is pretty constant, it doesn't seem like they're printing any money over in the U.S. Treasury Department.

Seems more like a Fed issue coupled with a Chinese monetary policy issue. If you expect Bush (by himself) to fix those things, then you'll also have to advocate that he take on new presidential powers.

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Four words: Value of the Dollar. Whose fault is that? Is it Bush? Considering that the M1 money supply is pretty constant, it doesn't seem like they're printing any money over in the U.S. Treasury Department.

Seems more like a Fed issue coupled with a Chinese monetary policy issue. If you expect Bush (by himself) to fix those things, then you'll also have to advocate that he take on new presidential powers.

I collectively blame the whole Bush administration. Maybe I am looking to point my finger as someone or group, but his decisions, particularly the war in Iraq, all the money we have put into the rebuilding efforts, and all his croonies in the oil and gas industry that get tax breaks don't help his cause.

He is pandering to the corporations rather than the people.

We are supposed to have the government "for the people by the people." Rather it's "for the corporations by the corporations".

As Obama mentioned, I am "bitter!"

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I collectively blame the whole Bush administration. Maybe I am looking to point my finger as someone or group, but his decisions, particularly the war in Iraq, all the money we have put into the rebuilding efforts, and all his croonies in the oil and gas industry that get tax breaks don't help his cause.

He is pandering to the corporations rather than the people.

We are supposed to have the government "for the people by the people." Rather it's "for the corporations by the corporations".

it's basic supply and demand. govt limits drilling/refining capability, the population is increasing (here and worldwide), hence so is demand/price.

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Do you think if we take those tax breaks away that the price of gasoline will go down?

No, but do they really need it, they are already achieving record profits as it stands.

It just supports what I am saying the Bush admin panders to corporations needs, not people.

Do something about it already. $600/$1200 is a stupid idea.

It is the whole, give a man a fish, he eats for a day, teach a man to fish, he eats for a lifetime.

The money is a short SHORT term relief (if you would call it that). Fix the energy crisis.

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He is pandering to the corporations rather than the people.

We are supposed to have the government "for the people by the people." Rather it's "for the corporations by the corporations".

Who owns corporations? Space aliens? Which race of aliens, do you think? The Ancients, Asgards, Ewoks, Ferengi, the ones from Independence Day, Goa'uld, Jem'Hadar, Klingons, Kryptonians, Martians as portrayed in Mars Attacks, Ocampans, Ori, Protoss, Romulans, Vulcans, Wookies, Wraith, or Zerg? Or is it an even more obscure species from a less popular sci-fi show or movie? Possibly from a book?

Or maybe...just to introduce a zany idea from left field, corporations might be owned by...humans? Perhaps even multiple humans--with sentience, no less--so as to induce the use of the plural form of 'person', "people"? I don't know, it's probable that I'm wrong, but has anybody ever considered it?

I mean, Redscare and I have made a lot of money by owning Exxon, and to the best of our knowledge, he and I are people. ...or possibly not, perhaps we're really just the leading edge of a vast tribble conspiracy hell-bent on inducing farmers to grow more corn in preparation for the invasion.

As Obama mentioned, I am "bitter!"

So you're a gun-toting religious zealot? :huh:

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what is your solution?

I don't know, I am sure if I had one, every joe-schmo would too. That is part of the president's duties and administration to prevent things from getting this way. When the cost of energy increases faster (and beyond) than the rate of inflation, you really "f"-ed up.

I am a tax payer. Bush needs to fix it.

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Who owns corporations? Space aliens?

Nice tangent, I know people run everything, including the government and corporations. But I, being part of the "people", don't get special privileges that corporations (particularly energy).

If you call $600 a privilege, then I will sit quiet, but when "Mr. Corp" get that $600/$1200 too, PLUS tax breaks and exemptions . . .

"Mr. Corp" is a more than just "people" then, don't you agree.

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