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Author Topic: Peak Oil sceptics take note  (Read 5345 times)

GuyFawkes

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Peak Oil sceptics take note
« on: March 14, 2006, 02:13:12 AM »
In the last 24 hours Uk natural gas wholesale prices just quadrupled.



it's not about running out, just demand catching up with maximum possible supply.

http://www.nationalgrid.com/uk/Gas/Data/dsr/
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Tom

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Re: Peak Oil sceptics take note
« Reply #1 on: March 14, 2006, 03:20:38 AM »
Me thinks something is about go go boom in Iran.
Tom
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pa73

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Re: Peak Oil sceptics take note
« Reply #2 on: March 14, 2006, 05:38:59 AM »
That is simply the way the UK gas market works. There is no storage ā€“ your boiler /stove is burning hydrocarbons under which were under the North Sea 3-4 days ago.

Gas is landed at three primary locations ā€“ Aberdeenshire (near Peterhead), Lincolnshire, and Norfolk. There is tremendous concentration of the entire UK gas supply at these gas plant locations. The Interconnector, which supplies imported gas from continental Europe, is co-located at one of these plants.

This concentration means that a shutdown in any plant triggers a spike in the gas price. Similarly, any offshore problem has a knock-on effect. Dozens of wells export via one pipeline.

It simply virtually nothing to do with Iran, although that does impact the oil price, it does not cause spikes in the UK gas market.

I could go on about uninterruptible versus guaranteed industrial gas contracts. However Iā€™m sure there is a text limit on the forum!

SHIPCHIEF

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Re: Peak Oil sceptics take note
« Reply #3 on: March 14, 2006, 05:46:14 AM »
How did that recent huge refinery explosion (that made international news) effect your fuel supply and prices?
Scott E
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pa73

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Re: Peak Oil sceptics take note
« Reply #4 on: March 15, 2006, 05:29:53 AM »
It was not a refinery, but a large scale depot. Availability in the London area was tight for a few days, but prices were held.

Katrina and Rita have severely damaged a number of offshore facilities, including pipelines, and the damage has reduced Gulf of Mexico production. This has impacted the global oil price, and continues to do so.

Incidentally, there is a BBC report today stating that the spike mentioned by Guy was caused by a fire in the UK Gas Network (Rough storage facility). The BBC is notoriously ignorant of the energy industry, so it will take a press release from the relevant infrastructure operator before the facts are clearer.

SHIPCHIEF

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Re: Peak Oil sceptics take note
« Reply #5 on: March 17, 2006, 10:34:54 PM »
I just read that 3 times more oil seeps to the surface from natural sources in the Gulf of Mexico each year than the Exxon Valdez leaked (one time).
Also, that a HUGE new deep oil reservoir was discovered there. Mexican Prez Fox announced it yesterday.
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Halfnuts

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Re: Peak Oil sceptics take note
« Reply #6 on: March 18, 2006, 12:25:16 AM »
Two words: Slant Drilling

Halfnuts

hotater

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Re: Peak Oil sceptics take note
« Reply #7 on: March 19, 2006, 01:00:29 AM »
There have been geologist saying for many years the S. Texas coast was richer than the North Slope.....and had a BEACH!!

The question is why aren't WE exploring the Gulf instead of lusting after oil found by Mexico?

  Did the hurricanes destroy that many 'rigs'?  How about support vessels? Politics?  Beaches versus BTUs?  'Not in my back yard' syndrome?

Is there something 'unnatural' about natural gas??
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Halfnuts

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Re: Peak Oil sceptics take note
« Reply #8 on: March 21, 2006, 12:34:43 AM »
Two more words:  Tree Huggers

Halfnuts