Guest NewsBot Posted June 19, 2008 Posted June 19, 2008 LAGOS, Nigeria (AP) -- Royal Dutch Shell says it has shut down production at a Nigerian oil field that produces about 200,000 barrels per day after a militant attack.... By EDWARD HARRIS Read the full story. Quote
Old Salt Posted June 19, 2008 Posted June 19, 2008 Here we go again. The price of oil is going to spike today:mad:. What happened? Was the price of oil falling too far for Shell? They need to take some of those obscene profits and hire some armed guards. The militant leader spoke on condition of anonymity to avoid punishment by authorities. The account could not be immediately verified. A spokesman for Royal Dutch Shell PLC confirmed an attack, but gave no details. The spokesman, Olav Ljosne, said production had been stopped from the field.Anonymity is a wonderful thing. Anybody could be making those statements. Even someone from Shell claiming to be a "militant leader". C'mon conspiracy theorists. Before anyone says anything, I think profits are good and companies need to make profits to stay in business. But the oil companies are making obscenely huge profits, and don't seem to be reinvesting it back into developing new alternative energy technologies (which they would hold the patent on and make huge profits from). They only pay lip service to keep their customers happy and the government off their back. But that's only my opinion. Quote
ImWithStupid Posted June 19, 2008 Posted June 19, 2008 It's amazing that this 200,000 barrels is the exact same amount as what Saudi Arabia said that they would increase production by. As far as the price per barrel going down, that is supply and demand, and the oil companies profits are only about 8 1/2 percent. That's far below many other industries oil companies just deal with much more volume of sales than most of the other industries that have much larger percentage of profit. Quote
Old Salt Posted June 19, 2008 Posted June 19, 2008 It's amazing that this 200,000 barrels is the exact same amount as what Saudi Arabia said that they would increase production by. As far as the price per barrel going down, that is supply and demand, and the oil companies profits are only about 8 1/2 percent. That's far below many other industries oil companies just deal with much more volume of sales than most of the other industries that have much larger percentage of profit.I got to rant, anyway. Oil hasn't spiked yet today, from what I can tell. I'm not really so sure about that percentage, there are so many moving parts to a major oil company. I'm sure that's probably right for the "mom 'n' pop" type driller or refiner. And I still say they could invest significant amounts in alternate energy and still pay their shareholders a handsome dividend. Quote
snafu Posted June 19, 2008 Posted June 19, 2008 God damn it! You don't bow down to these militants. That?s what they want. Send in the Marines! Quote "You can't stop insane people from doing insane things by passing insane laws. That's just insane!" Penn & Teller NEVER FORGOTTEN
Old Salt Posted June 19, 2008 Posted June 19, 2008 What'd you put in your Cheerios this morning, snaf? Quote
snafu Posted June 19, 2008 Posted June 19, 2008 What'd you put in your Cheerios this morning, snaf? Is my grumpy mood showing? Had a long night and a early morning. Quote "You can't stop insane people from doing insane things by passing insane laws. That's just insane!" Penn & Teller NEVER FORGOTTEN
RoyalOrleans Posted June 20, 2008 Posted June 20, 2008 Send in the Marines! Give me my old M40 "Sheryl", a perch, a bag of sunflower seeds, a can of Skoal, and targets. Quote To be the Man, you've got to beat the Man. - Ric Flair Everybody knows I'm known for dropping science.
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