With Shale Oil Production Like This, Who Needs Trump?

BP overall is a poorly run oil company that tends to forget their core business and neglects safety audits. They have been that way since the late 1960s.

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Probably not since oil is fungible.

 

BP is involved in the entire oil process; prospecting, technological development for offshore production in deeper waters, refining and gas stations, as well as the production of a variety of ancillary oil products and their global marketing. Few oil companies have as extensive and thurough an operation.

Aside from the disaster in the Gulf of Mexico, have there been other examples of BP neglecting safety audits?

 

In the wake of Deepwater Horizon my brother was called upon to rewrite their protocols because they had built in no direct accountability. Back in the late 1960s it was the same sloppy thing with their failure to develop protocols around super tankers.

 

That doesn't mean their statistics aren't the most reliable and accurate.

Do you work for an oil company?

 

Nope..

BP is a poorly run oil company.. Always has been.

 

Huh. Margot would you care to share a bit more information on you experience in the oil industry?

 

Nope.............

 

So much for having a chat I guess.

 

Oil companies are involved in a risky business, there are lots of complicated moving parts involved in the process of bringing flamable, combustible and polluting fuel to the market, accidents happen. Until the Exxon Valdez ran aground in Alaska it had a great record, same for BP until the Deepwater Horizon disaster, but one needs to consider the complicated details before broadly concluding these accidents are due to any malfeasance, breach of regulations or lack of adequate concern. As noted before, we're dealing with highly flamable combustibles that are often even explosive and quite toxic contaminants, this easily can go wrong, ideally we'd do away with all of this, go solar with peace and love, between now and then there may be some element in all those finely engineered moving parts that gets disastrously mishandled and causes pollution.

 

I have a question, do you think that Dutch and British empires could exist today? Muscovite far east (in China Hans see it as outer manchuria ) have 0 whats so ever connection to Pskov or Ingushetia. ONLY 4 regions are debiters , etc.

 

Solor, we in 1 step from it, at least Sweden, I am sure USA too

 

Yes. Very few have any idea just what is involved in managing these sorts of enterprises, and how easily things can start going wrong for even the best operational level managers. Study the oil and gas industry from its beginnings and we would find some truly scary practices in the past, and would be even more amazed how well the industry in general works overall. Some of the criticisms thrown around truly are unfair ones, though the financial and monopolistic tendencies sort of are; those aims are made in the executive suites and boardrooms of the institutional shareholders, not the engineering and logistics side..

 

Are you thinking that Russia shouldn't exist as it does today? That the eastern parts have more in common with China or perhaps other neighbors and might be better off with them or just separate? I know I've heard of some discontent in Sibiria at least. Seems they feel that they do not get enough in return for the taxes they pay and the regulations they receive from Moscow.

 

Well, Romas did it and survive many centuries up to 15c. What Putin is good it's in propoganda , in many places Easter of Moscow people don't have fresh bread, it holds only couple of days, and require a functioning factory. Kremlin pays only when it doesn't have a choice , Chechenya, Dag-stan, Ingushetia, etc. Thats why they poorest regions Novgorod and Pskov regions, before Muscovite occupation the richest states in the world, more European countries , and Europeans then Norwegians at that time. Many experts say that Pskov look like a great war ended there in 2016 or still on. You can google pictures, then Grozny...It usual situation for an empire , when it's subjects have different economics , different , rights and statuses . Question is how 13 c Mongolian project could exist today when even the most effective empires French, British, Dutch died 50 years ago?

 

Well, apparently in vivid imagination everything can exist.

 

corruption at high oil even higher. So I'm right are not in part, but altogether. It is logical?

 

Putin is one of the oligarchs; he has the same mentality, and they spend their time trying to neutralize or screw over each other, not focusing in the country's problems except to slap band aids on whatever problem is currently the hot button. Only projects that Putin and his cronies are getting done, like pipelines and whatever benefits themselves, no balance or serious developments elsewhere, so yes partly right, mostly but not entirely.

 

prices down almost 6% LOL))) think whats going on in the heads of all bamboo - "kings" today )) LOL , time go back to school, fun has gone forever

 

Reducing OPEC outputs boosts oil prices making shale oil more profitable:

Thanks to Trump US shale oil producers can sell their outputs overseas and gain coveted market share which OPEC members lose by reducing their production.

 

OPEC not working:

I noted elsewhere they seem to lack the motivation, their embargo worked in 1973, but they had political motivation then, now the only inducement is economical and OPEC's members don't appear to understand economics very well (at least not the basic principle of "supply and demand").

Applying economics requires each OPEC member reduce outputs to their differing markets based on the volume of stockpiled oil in each. Instead the OPEC has negotiated reduced putputs based on a member's capacity and taking into account extraneous circumstances.

A "tall order" because global economies are very slowly recovering from the recession, with IMF forecasts of global GDP growth around 1.5% (which is imperceptible once demographic growth is considered) demand for oil is weaker than the supply OPEC has agreed to allow, so those stockpiles aren't getting drawn down much.

I also have noted before that petrostates substitute fiscal policy for spending oil revenues, thus differing constituencies are rewarded for their loyalty with government spending (which depends on oil production). Most petrostates need to increase outputs to get the money they need to keep their citizens from challenging the political order.

Depending on how optimistic one is over US shale oil production capacity, the OPEC may be soon collapsing.

The US government only recently allowed US oil companies to export domestic production and is still only gradually removing controls on this.

They did manage to bring prices down and drove many shale oil producers out of business, but fracking has become more efficient and less costly, so now OPEC would need to bring prices even lower and this is the opposite of their goal. If shale oil production is now profitable enough at about $50/barrel, to drive more frackers from the market OPEC needs to bring prices below $50/barrel.

That's more oil than any OPEC members, so you have an idea of the magnitude of their problem.

The US won't suddenly itself become a petrostate, oil production is in private hands, but this will certainly be great for the economy!

America is on the cusp of realizing Trump's aim and becoming really great again, imagine that less than 100 days since he took office. This fortuitous development is obviously not entirely due to Trump, but one should recognize having for president someone who is not beholden to "fossil fuel phobes" certainly helps, Trump will facilitate relaxing environmental restrictions on fracking and pipelines, he will ease the oil export restrictions and is bound to take undue credit for this happy turn of events.