Article

2008-12-27 China-Japan-Koreas

China begins to fill its oil reserve with cheap oil

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Posted by 3dc 2008-12-27 00:00|| || Front Page|| [2 views ] Top

#1 Obama will empty out the American oil reserve as soon as he gets into office. There's no sense in keeping anything for emergencies, it might benefit America.

Posted by gromky 2008-12-27 01:39|| 2008-12-27 01:39|| Front Page Top

#2 Yea, gromky, his palms are as 40 ton excavators.

Or you think that he'll issue and exec order "Empty all the reserves now!"?

Posted by Spike Uniter 2008-12-27 05:08|| 2008-12-27 05:08|| Front Page Top

#3 Stupid Commies, eh?

Posted by g(r)omgoru 2008-12-27 05:23|| 2008-12-27 05:23|| Front Page Top

#4 While W. Bush filled the SPR to 100%, I wish he had also talked to some of his Texas oilmen friends to restock their shallower oilfields with cheap oil that could be quickly recovered.

Importantly, not above ground where it could be seized, but in out of the way fields that could sit idle for years with little notice.

Posted by Anonymoose 2008-12-27 08:19|| 2008-12-27 08:19|| Front Page Top

#5 'Moose the SPR isn't above ground now.... jeebus.

Posted by .5MT 2008-12-27 08:33|| www.cybernations.net]">[www.cybernations.net] 2008-12-27 08:33|| Front Page Top

#6 .5MT: I didn't say it was. However, that is just the SPR. Typically, crude oil is stored above ground en route to the refineries, and there is considerable capacity there as well.

However, in above ground storage it would still be easily snatchable by the government. So Texas oilmen would be better off by pumping it back underground where they could recover it with ease, but the government could not.

I am reminded of the story of a very profitable silver mine in old Mexico. The trouble was, that once the silver ore was refined at the mine, they had to transport it a considerable distance to where they could cash it in.

And the distance was covered with both banditos and corrupt local government officials with their banditos.

So the silver mine melted the silver into a giant ball with large handles, that had to be towed by a 40 mule team. When the banditos and local government showed up to steal the silver, the miners just abandoned the ball and went a safe distance away, until the banditos had given up in frustration.

Because they were the only people in the whole region who had a 40 mule team, and knew how to use it.

Posted by Anonymoose 2008-12-27 10:50|| 2008-12-27 10:50|| Front Page Top

#7 damn clever those texans

Posted by Bunker Hill 2008-12-27 13:25|| 2008-12-27 13:25|| Front Page Top

#8 The problems with putting the oil down into an old field are that: More than one company will generally have wells in those fields so there is no way to keep the oil under the well of the company that put it there. And secondly, if you pump it in at one spot, it is going to spread out. There is no guarantee you are going to be able to pump it all back out again.

Posted by crosspatch 2008-12-27 14:01|| 2008-12-27 14:01|| Front Page Top

#9 Oil goze into tanks, and back a few years... some got went into crude ponds. Pumping it back into the formation can lead to costly contamination, seepage, and other legal issues and problems as discussed by crosspatch.

Posted by Besoeker 2008-12-27 14:19|| 2008-12-27 14:19|| Front Page Top

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