Falling Oil Prices

Pixie5740

ruggedtoast wrote: »

Good. Up to 118p at Tesco. Bandits.

You know that most of that 118p is tax rather than the cost of the petrol/diesel to you....right? The UK actually offers some of the cheapest petrol and diesel prices in Europe....before tax is added.

antrobus

Generali wrote: »

What's a cracker please?

A plant that breaks down big hydrocarbons into little ones that are useful for making plastics.

http://www.essentialchemicalindustry.org/processes/cracking-isomerisation-and-reforming.html

ggb1979 wrote: »

Basically a big pan where oil is cooked to split it into its various derivatives

I believe that there are steam crackers that will do that for you, but isn't distillation the normal process employed for breaking down crude oil into its fractions?

Mistermeaner

Yes you're right; i said 'basically'

Crude tends to be distilled first to separate into component parts, then the these components are 'cracked' to further divide them.

Rather than me waffling easier just to read something like this:

http://www.essentialchemicalindustry.org/processes/cracking-isomerisation-and-reforming.html

Lots of people think evil oil = petrol but almost everything single thing you touch and use in your daily life is in someway linked tooil and its derivatives. Even with a completely renewable source of eneregy oil will still be required for its chemical building blocks that go into to literally EVERYTHING

michaels

Generali wrote: »

What's a cracker please?

And this from the man who is planning on making his own soap....

cells

Oil is still very expensive

Clean refined nat gas in the states costs ~$20 a barrel equivalent and all you need to do is compress it and use it which will cost 1 cent

Dirty unrefined oil costs ~$60 but then you need to refine and transport it for ~$20

So oil is 4x the cost of Nat Gas in the states
Even in Europe its 2x the cost


If boeing or airbus shift to LNG or the auto makers shift to CNG that will link oil and gas prices for 50+ years. Nat gas will go up in price a little while oil will crash towards the $30-40 range if that were to happen. But of courses it would take 15-20+ years for such a shift

Mistermeaner

when i say 'oil' what i mean is the fossil fuel based forms that 'oil' and its constituents can come in - give or take Natural Gas and Shale can be used as equivalents (and at lower cost).

cells

Propane is 35 cents a gallon in the USA now
That is 10 cents a litre
It is also a fantastic fuel as you can keep it in liquid form with just a bit of compression. Planes and cars can use

USA now the worlds biggest exporter of the stuff and scrambling to build more export terminals as prices have gone so low (in some areas prices are negative you are paid to take it away)

Generali

cells wrote: »

Propane is 35 cents a gallon in the USA now
That is 10 cents a litre
It is also a fantastic fuel as you can keep it in liquid form with just a bit of compression. Planes and cars can use it with little modification

USA now the worlds biggest exporter of the stuff and scrambling to build more export terminals as prices have gone so low (in some areas prices are negative you are paid to take it away)

In Edmonton in fact:

http://ftalphaville.ft.com/files/2015/06/Screen-Shot-2015-06-19-at-11.46.16.png

(From the FT Alphaville blog).

purch

I need some Propane for the BBQ.

Anyone want to bring some round and pay me to take it off their hands ?

ging84

opec met 2 weeks ago, they kept the production ceiling same, if they had raised it we would have seen oil prices hit the floor.