>Apocalypto<
20.03.2012
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- 2 February 2007
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Refined petrol is a market in itself. Contrary to popular belief, it's not simply the crude oil cost plus x. Crude's gone up - petrol could go either up or down given it's only a small change.Time to resurrect this old thread!
Oil up over $US83 barrel today. So, what price ULP to reach now in OZ? (it's currently around $1.34 ltr in Wodonga). A few months back when oil was *only* about $US80 we were paying over $1.45/ltr - before the price enquiry began. Might see $1.40+ again soon?
AJ
Magdoran
I think $90 is possible, but only if accompanied by geopolitical concerns that spill onto the world stage - Iran is the culprit to watch.
And then I thought about hurricanes: Put the two together and we have $100 as possible.
Otherwise I think POO over $85 this year will be a bit of a tall order.
I say this based on pragmatism, and not on natural demand, which I expect to be typically robust in the second half.
OPEC said they will be boosting output by 500,000 barrels per day starting Nov. 1 .I`ll bet that prices fall on rising inventories and lower demand.
US air force eyes alternative fuel
SMH October 27, 2007 - 5:49PM
The world's most powerful air force is seeking to wean itself from foreign oil and nearly wipe out its carbon dioxide output as part of a sweeping alternative energy drive, a senior Pentagon official said.
By early 2011, the US air force aims to make sure its entire fleet of bombers, fighters, transports and other aircraft can use a domestically produced 50-50 blend of synthetic and petroleum-based fuel.
William Anderson, an assistant air force secretary, said the goal was to reduce energy demand, look for cleaner power sources and to reuse captured carbon commercially, for instance to enhance the growth of biofuels or improve oil well production.
"We can get ourselves very close to a zero carbon footprint," said Anderson ahead of talks on the issue with counterparts in Britain and France next month.
"Not today. Not tomorrow. But maybe a decade or so down the road," he told a briefing at the State Department's Foreign Press Centre.
Anderson said the air force's economic clout as a purchaser could help promote sources of power that do not add to emissions of greenhouse gases. Such gases trap heat in the atmosphere.
The largest US solar-electric power array of 14.2 megawatts is to open in December at Nellis Air force Base in Las Vegas, and Anderson said Congress had asked the service to consider if its bases are appropriate sites for small nuclear facilities.
Anderson said the effort on synthetic jet fuel had been spurred by the 2006 challenge to the nation from President George W Bush to wean itself from its "addiction" to imported oil. Oil supplies are diminishing, Anderson said.
On Monday, a C-17 Globemaster cargo aircraft, workhorse of the US-led wars in Iraq and Afghanistan and the military's biggest user of jet fuel, flew for the first time with a coal-derived synthetic blend as the only fuel on board.
Anderson said jet fuel from coal produced 1.8 times more carbon dioxide between production and consumption as jet fuel from oil, but he said most of that additional amount could be captured during production of the synthetic fuel.
Coal was abundant in United States and renewable energy sources could not meet growing energy demands. "Coal is going to play big in the future, we believe, based on all projections," said Anderson, assistant secretary for installations, environment and logistics.
US air force global operations require a huge amount of energy. In fiscal 2006, the service consumed almost 2.6 billion gallons of aviation fuel at a cost of more than $US5.7 billion ($A6.3 billion), according to an air force fact sheet.
Jet fuel accounts for 81 per cent of the air force's total $US7 billion ($A7.7 billion) a year in energy spending, said Anderson.
For every $US10 ($A11) jump in the price of a barrel of oil, air force costs rise $US610 million ($A673 million), a sum that eats into modernisation efforts and other programs if not offset by additional funds from Congress, he said.
In France and in Britain, Anderson said he would reach out to industry as well as to sister air forces in the hope of speeding up energy-saving efforts worldwide.
"We believe that we have to find an environmentally friendly way to mine coal and to burn coal," he said. "We believe the technology is very close, and we believe that an organisation with the market size and presence of the United States air force can help move technology forward to make coal a much cleaner and greener alternative across the board."
© 2007 Reuters
I wince everytime I pull up to a pump and I traded the ute in an Astra Hatch ,
It's just when the oil price stops me from doing my parental and marital duties , that I will finally spit the dummy , because any force that interfers with my families future will need decisive action by a government . That will and can only come by two means , a drop on petrol excise or a rise in wages to meet the expectations I must adapt to or be allowed be allowed to take some form of control over other than an election . The key element though is adaption . My faith lies not in governments to find a solution , but the oil companies , who will sell it to us , in doing so they will see organic growth .
At present I only have to adapt to a rising pump price , that I'm sure is the catayst for the 23% rise in the grocery bills , noting the weight reductions in packaged products , which is basically a way the company passes on its inflated costs to the consumers .
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If you're concerned about the rising oil price make sure you own some WPL or have some exposure to oil stocks...share price gains will help pay for your tank of fuel.
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