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06/07/2010 10:47:41 PM · #101 |
Originally posted by DrAchoo:
I'm talking gasoline prices, not oil. |
One follows the other. |
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06/07/2010 11:09:36 PM · #102 |
Originally posted by DrAchoo:
Well, let's make sure we're talking about the same thing. I'm talking gasoline prices, not oil. And it's a good point that oil has dropped in price on European concerns, but we do traditionally see a Memorial Day summer rise in gasoline prices which has not materialized yet. |
The jump in gas prices are set in place with the expectation of increased demand during the busy summer travel season. Given the jitters in the stock market, the crumbling of the euro, and high unemployment, the expectation of high demand just isn't there this year. Who else is up fro a nice "staycation" this summer, woo hoo! Come on kids, we are camping out in the back yard, who needs Disney world, the Florida beaches are going to be sticky any way.
Message edited by author 2010-06-07 23:11:46. |
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06/07/2010 11:28:36 PM · #103 |
Originally posted by Judith Polakoff:
Originally posted by signal2noise:
Originally posted by MelonMusketeer:
They should be drilling 3 to 4 relief wells instead of just two. If they miss with the first two, they will have to begin drilling relief wells again, possibly making it sometime next year before they get it shut down. |
No, if they miss, they simply back-track the bit and change the trajectory, they don't start from scratch. horizontal drilling techniques have come a long way and are GPS guided. If the first try doesn't work, it's just a few days before they try to intersect again. |
If it's GPS guided, why would it miss at all? |
GPS isn't the only guidance issue. You must factor in the stratigraphy (chemo, litho and magna). While you can guide the bit, your horizontal trajectory can be impacted by density of the sediment, gas pockets, salt deposits, etc. With GPS, you can get very close, but it is not pinpoint accuracy. |
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06/07/2010 11:47:29 PM · #104 |
| sheesh... PCola now has oil on the beach... and I just read they dont expect to have it fixed till August... there will not be a florida coast left. |
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06/08/2010 12:13:22 AM · #105 |
Originally posted by scalvert:
Originally posted by DrAchoo:
I'm talking gasoline prices, not oil. |
One follows the other. |
You can find the graphs of last year's prices for gasoline and oil here and here. There is certainly a correlation, but it isn't perfect and sometimes it doesn't seem to be so close. For example, in October 2009 we see oil go from a bottom of about $65 to a top of about $80 or a roughly 25% change. Gas goes from $2.45 to $2.69 or a 9% change. Even odder is when you correlate that to the previous "cycle" of gas where the price went from a similar $2.45 to $2.63 in July while oil went from $60 to $70 (instead of from $65 to $80).
Don't get me wrong. I fully agree there is a correlation. I just speculate that a)the wiggle room the oil companies have is larger than we assume and b) they may be utilizing it right now because of the negative publicity they are currently getting.
EDIT: OTOH, it appears that oil has been about $70/barrel six or seven times in the last year. The gas prices at those times tends to be right around 2.63, but was at a low of 2.45 in 10/7 and is actually at a high of 2.74 currently. |
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10/28/2011 09:27:10 AM · #106 |
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