NF Shh maybe the crooks will think we won't Notice

[holdfast]

Oil per Barrel less than 70 dollars, but we are still paying 1.17 in Oil country. What it should be, or used to be, is all you did was move the decimal. So we should be paying around 69 cents. Betcha it'll jump at the pumps as soon as you whisper storm, production cuts, or an oil refinery changed hands overseas. But it is OK, because if you say nothing maybe the crooks and government will think you are stupid. Lets not let them onto what we know.

[misfish]

Sorry to hear yer pain. We just paid 99.0 here. Yes it,s on SALE.lol

[Raf]

just filled up.. 2.79 / gal.

[danc]

Oil per Barrel less than 70 dollars, but we are still paying 1.17 in Oil country.

 

Which is the break even point, or very close to it, for extracting oil from Albertas oil sands. Which will shut down Albertas oil sands project. Which will create a world wide shortage. Which will make the price per barrel sky rocket. Just give it time and everything will work itself out. We'll be paying way more than 1.17 soon enough. You just have to have a little patience.

[kemper]

Ya, its $0.99 here, cheap right!? but lets think about it for a second. Last time oil was this low we were paying something like $0.76.

 

This doesnt add up for me, somebody is walking away with a whole lot of $0.23's in their pocket!

[Sebastian]

BULL SPIT!

[Guest gbfisher]

Which is the break even point, or very close to it, for extracting oil from Albertas oil sands. Which will shut down Albertas oil sands project. Which will create a world wide shortage. Which will make the price per barrel sky rocket. Just give it time and everything will work itself out. We'll be paying way more than 1.17 soon enough. You just have to have a little patience.

 

 

Umm ....They make money at 30/barrel. At least Syncrude does anyway........thats their breaking point.....

 

Oil sands Rule....

Edited October 17, 2008 by gbfisher

[Wild]

We are still 10.4 cents above the NYMEX price for gas. but then again we are around 300 million dollars poorer for this worthless election so we can complain to the man in charge as soon as he get's back to work

Edited October 17, 2008 by Wild

[danc]

Umm ....They make money at 30/barrel. At least Syncrude does anyway........thats their breaking point.....

 

Oil sands Rule....

 

I can only go from what I've read. Extracting oil from the oil sands is one of, if not the highest cost of extracting oil on the planet. I've read in half a dozen places that it costs 70 to 80 dollars per barrel to extract from the sands. The latest read was in Mcleans magazine about a month ago. I'll give you the benefit of the doubt that they're all wrong and you're right.

[drwxr]

so if the oil is cheap maybe the price of the barrel itself is rising.

 

We just paid 99.0 here. Yes it,s on SALE.lol

 

thats a good one. i wonder what will be on boxing day. lol

Edited October 17, 2008 by drwxr

[kemper]

I can only go from what I've read. Extracting oil from the oil sands is one of, if not the highest cost of extracting oil on the planet. I've read in half a dozen places that it costs 70 to 80 dollars per barrel to extract from the sands. The latest read was in Mcleans magazine about a month ago. I'll give you the benefit of the doubt that they're all wrong and you're right.

 

It is VERY expensive to extract oil from the oil sands, and the break-even is between $70-$80 (closer to $80 apparently).

 

I have a good friend whos father is involved in the oil business and makes frequent trips to the sands, a very knowledgeable businessman and I often talk to him about the business side of life. (great to learn from someone who has made and lost millions more than once, so that I never make the same mistakes)

 

You dont even want to know how much money he has...

[Dutch]

OPEC was supposed to meet in November, they moved the meeting up to address the falling price of oil.

 

Right after that meeting I predict Oil will go up as they will announce they are going to cut production.

 

Better buy the Oil stocks now as they are undervalued, once that announcement is made, they will go back up.

[Wild]

The US oil reserves are in good shape however with reduced industrial output, tightened consumer spending and the acknowledgment of a long recession I cannot see oil returning to higher levels and I suspect the new president will not tolerate the threat of higher prices threatening the weak economy either. Even with a very cold winter I think oil reserves will be used as a buffer.

 

Concerning stocks there is some very bad news forthcoming again.

[Guest gbfisher]

I can only go from what I've read. Extracting oil from the oil sands is one of, if not the highest cost of extracting oil on the planet. I've read in half a dozen places that it costs 70 to 80 dollars per barrel to extract from the sands. The latest read was in Mcleans magazine about a month ago. I'll give you the benefit of the doubt that they're all wrong and you're right.

 

Might be that way for company's not producing or built yet........ Check out Syncrude ....

 

Didnt mean to put you off any... ......OK...How bout $33/barrel break even point then....for company's(syncrude) who are in production....Better?

 

 

http://seekingalpha.com/article/58322-oil-...eak-even-prices

Edited October 17, 2008 by gbfisher

[danc]

It's articles just like that where I've read about the $70/80 ppb costs. Unfortunately I've read them in ink and can't post a link. The Mcleans article that I read was from 6 to 8 weeks ago. I'm certainly no expert, but I can't see how one company can do the same as the next 60% cheaper. Either the articles that I've read are wrong, or the post you linked to is wrong, or there's a happy medium somewhere. Syncrude would be the only player on the block if they could work at a 60% discount.

[Guest gbfisher]

Syncrude is one of the largest. They have been in production for years.

 

News papers you say.....

 

 

http://www.syncrude.ca/users/folder.asp

 

 

Check out the 2007 Sustainability Report.

 

 

 

On a side note......Paid out 1.25/share this year so far and pays 4 times a year.......

That glory will go down a bit Im sure.... ........its LONG TERM anyway.

Edited October 17, 2008 by gbfisher

[danc]

Actually, this is the MaCleans article that I read. It claims that costs may be as high as $85.00 per barrel as of mid August.

 

OIL SANDS COSTS

 

I really don't know if your link is right or if mine is. I'm just reflecting on things that I've read.

 

The 2007 report that you've pointed to is way out of date, by the way. You'll find out why when you read the link above. The cost of steel, a major factor in oil extraction, has gone through the roof. As has many other things that the oil companies took for granted as early as a year ago.

[Bob]

Doesn't it strike you though, that that rising cost of steel is due to the increase in energy costs to produce the stuff? Then there's transportation cost to get materiel and machinery to the sites, also rising due to the increase in fuel prices. I wonder how much of the production cost on the oil sands is in diesel fuel to run the machines. How much of the profit from these costs goes right back to the oil companies? Sounds like a vicious circle to me. These guys are very creative when it comes to bookkeeping, they can make it look like their profits are actually costs on the deficit side of the ledger. Oil companies have been breaking profit records quarterly for a couple of years now. With price per barrel dropping, steel production costs will drop and eventually the price of steel and so on down the chain. Perhaps they'll have to live with a couple of quarters without breaking records. Personally, I don't think they're losing any money.