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JohnGalt posted:This is okay when there isn't a huge volume being disposed because it never reached the point where it caused a lot of earthquakes. The problem is in the interwell formation. When multiple wells in proximity pump at there maximum allowed rate and the fluid diffuses throughout the formation, it creates higher than expected pressures in the space between the wells. Amusingly exactly the opposite problem from what got Texas to tightly regulate production back in 1919.
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Jan 14, 2016 22:49
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Trabisnikof posted:America's nuclear industry is lazy apparently. In that case, the government said that they'd take care of it. Then Reid became senate majority leader...
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Jan 17, 2016 02:39
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Aeka 2.0 posted:So why are California pump prices still high? Is it the refineries at this point? I just payed 3.00 a gallon today while hearing a story of gas well under a dollar in another state. Prices at the pump lag the price per barrel of oil a lot, mainly because the stuff making its way to gas stations was sold at whatever it cost the refiners to make and gas stations will try and nickel and dime each other down. ie, if its currently $3.00 a gallon why lower it to $1.80 if the guy across the street is charging $2.949 right now? Lets do $2.939! ps its $1.72 here in metro Saint Paul, MN. Suck it California.
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Jan 19, 2016 22:03
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Trabisnikof posted:Whatever, the improved air quality is worth it. I'll have you know that it got above 0F today so its practically balmy outside! Oh wait you meant emissions. 
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Jan 19, 2016 22:07
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Demon Of The Fall posted:Should I feel bad that so many people who work in oil are going out of business/unemployed? Because I really don't. The industry is cyclical. Many will have good paying jobs again in a few years and the majors will be raking in record setting profits again. Just as the price of oil crashed below $2 it'll go back above $4 at some point and probably back below $2 again after that (all inflation adjusted). This poo poo has been happening since oil was found in Pennsylvania in the 19th century. Below $1.50 is pretty impressive though.
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Jan 21, 2016 01:00
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Some French Guy posted:Honestly how much of this is just due to wall street doing it's thing ? Embargo on Iran is done, some investors start selling, price drop, everyone else start selling. Remember the great why is gas so loving expensive post ? It is the best post I ever read on SA. Found a repost here: https://webewizards.wordpress.com/2011/03/31/repost-why-is-gas-so-loving-expensive-the-answer-may-surprise-you/ As I said this has happened before and it will happen again (  ). This is kind of the same situation as the 80s oil glut - there was a shortage in the late 70s, more fields came online as speculators drove the price up, then the new production led to a glut which eventually crashed the price which made new fields unprofitable so were shut down which reduced the supply of oil leading to a shortage....edit: in the case of the 80s it was actually reduced demand not overproduction per se, its the same idea. Swings like this used to be bad enough to cause Texas of all places to assign production and pricing to the government 
hobbesmaster fucked around with this message at 16:21 on Jan 21, 2016 |
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Jan 21, 2016 16:17
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Unfortunately life as we know it is impossible without oil. Yes, even if we go 100% renewable/nuclear.
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Jan 21, 2016 19:52
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Zeno-25 posted:Couldn't have happened to a nicer industry. Perhaps this will put a nice dent in GOP fundraising from that sector. The majors will still make money. The reason they made record profits when the price was super high is the same reason that they'll do better than break even when the price is low. Though it is lower than low at the moment <$30 is crazy.... Buckwheat Sings posted:It's good for the wildlife of Alberta. Now they just need about 100 years for it revert back to something that doesn't look like a stripmine. I was at an oil/gas conference in Calgary maybe 2 years ago. They had some ridiculous projections about growth of the Albertan oil fields, like quadrupling in less 5 years and the price of oil being over $180 or something equally ridiculous. I guess it could still happen? 
hobbesmaster fucked around with this message at 23:19 on Jan 21, 2016 |
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Jan 21, 2016 23:17
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Counter point: local bars and strip clubs benefit greatly.
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Jan 22, 2016 00:04
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ganglysumbia posted:Where is this? I know anyone in the Marcellus/Utica/Bakken was paying a poo poo ton of taxes, individuals and companies. I had to fork up 35k last year for gods sake. Other states with major oil industry including Oklahoma are significantly more shall we say laissez faire about, well, everything.
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Jan 22, 2016 01:56
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Trabisnikof posted:Pretty sure it would be a crime for us producers to work together to limit production, that's like a textbook illegal cartel. Waivers to antitrust laws have been given on that topic many times in the past because foreign governments (middle easterners especially) would only recognized US producers as one entity.
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Jan 26, 2016 18:21
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Squalid posted:I'm intrigued, can you give a specific example? What industry has this happened in? The oil cartel case.
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Jan 26, 2016 18:30
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MaxxBot posted:I'm going way off topic here but it's something I wondered about recently, is there some simple approximation to convert the rated thrust of jet airplanes into a power output figure? Or is that power output figure calculated some other way? Here, GE will sell you the same engines for power plants
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Feb 17, 2016 05:31
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