OIL PRICE****

[New Orleans Relic]

Could all the blatant politics and greed ever get us back to supply and demand?
And competition always seems to end with collusion.

 

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[Msbeepbeep]

It's the way of the world.

 

[Limitool]

In the PRODUCTION of oil ... from the ground to the pipeline to the tanker to the tank farm ... not one single barrel.

Now, that being said, "petroleum bulk stations" do sell various products in barrels AFTER the refining process is complete.

Back in the 1970's, when my dad tried his hand at that job, the barrels were returned kinda like empty pop bottles when you made your next purchase. He would leave with full barrels, return with empties.

As small as he was, I was surprised to see him handle a 55 gallon drum even when it was full. Had a friend make him a tool that gave him a mechanical advantage in turning it on edge, then he could move it however he wished by turning it --- as long as he could keep it balanced.

Ok Chadeaux.... While I do truly appreciate you responding to my question (you know I do) somewhat I'll try again... IF a barrel cost $29.00 (p/barrel) then what is a barrel? What are "they" referencing as a $29.00 barrel? That's where I'm confused (very).

 

[bill from lachine]

Brad,

A barrel of oil equates to 45 gallons.

Regards + HH

Bill

 

[Mackaydon]

The standard (since 1872) barrel of crude oil contains 42 gallons.
Don..........

 

[bill from lachine]

Don,

I stand corrected.....I had always read that the measure was 45 gallons...lol.

Regards + HH

Bill

The standard (since 1872) barrel of crude oil contains 42 gallons.
Don..........

 

[Limitool]

Ok... I'll try one more time. Guess I'm not making myself understood... And I'll let it go after this (my fault).

Earlier someone posted that the actual cost of the steel barrel ($29.00) was costing more than the crude going into it. Later someone said they don't use a actual barrel for crude except after being refined into whatever it's made in to and shipped out.

So.... if an actual steel barrel cost $29.00 (never mind the actual gallon content within) what are they referring to if the actual crude never see's a barrel. When they say the crude is gonna cost less than the actual barrel... WHAT ARE THEY TALKING ABOUT? Earlier I asked "Don't they recycle the barrel" and lower the cost". Now I hear only refined oil sees a barrel.

So... one more time... what does a $29.00 metal barrel have to do with crude oil costing about the same if the crude never sees a barrel? WHAT IS A $29.00 BARREL? What does one have to do with the other? Probably just me not understanding....

 

[DonDigger]

If a gallon contains 16 cups of and your car tank holds 20 gallons, then there should be 320 ceramic cups somewhere? Just a tongue in cheek comparison on terminology of standard units of measurements. A barrel of crude at 42 gallons is just a standard unit of measurement, whether it is in a tanker truck or delivered by pipeline. No physical steel barrel involved therefore the post about the cost of a physical steel barrel is moot, probably just another tongue in cheek observation by that poster.

 

[Mackaydon]

Bill,
Not a problem.
Actually, I thought your 45 gallon figure might have been in Imperial gallons. I had to look that one up.
All the best,
Don....

 

[Chadeaux]

Ok... I'll try one more time. Guess I'm not making myself understood... And I'll let it go after this (my fault).

Earlier someone posted that the actual cost of the steel barrel ($29.00) was costing more than the crude going into it. Later someone said they don't use a actual barrel for crude except after being refined into whatever it's made in to and shipped out.

So.... if an actual steel barrel cost $29.00 (never mind the actual gallon content within) what are they referring to if the actual crude never see's a barrel. When they say the crude is gonna cost less than the actual barrel... WHAT ARE THEY TALKING ABOUT? Earlier I asked "Don't they recycle the barrel" and lower the cost". Now I hear only refined oil sees a barrel.

So... one more time... what does a $29.00 metal barrel have to do with crude oil costing about the same if the crude never sees a barrel? WHAT IS A $29.00 BARREL? What does one have to do with the other? Probably just me not understanding....

I think someone was talking about barrels for burning trash ... here's the post:

Wow! I saw yesterday that crude is down to $28 a barrel! The funny part is I checked my local feed & grain and steel barrels are $29 ea - $25 for plastic. Bet you never thought you'd see the day barrels cost more than the crude in it. Gave me a good giggle!!!!

 

[Msbeepbeep]

Well actually if they keep reselling the barrel every time it is used (for what ever), wouldn't that make the barrel more expensive than just the oil?

 

[Limitool]

Well actually if they keep reselling the barrel every time it is used (for what ever), wouldn't that make the barrel more expensive than just the oil?

Yea... that's probably true Miss beep. I totally misunderstood a post and was trying to make sense of it... MY FAULT TOTALLY.... sorry folks.

 

[Peyton Manning]

I don't think barrels are used at all. it is just a unit of measurement

you buy gasoline by the price per gallon, but you don't get cans of gas

 

[Msbeepbeep]

Actually 9/10 of a gallon, you don't even get the whole gallon for that price!
Just like ice cream is no longer 1/2 a gallon and some coffee is not a pound, some as little as 12 oz.
Wonder if they do That to the metric measurements, charge you for a meter but you get 9/10 of it?

Gas is $1.70 here now.

 

[boogeyman]

Ok Chadeaux.... While I do truly appreciate you responding to my question (you know I do) somewhat I'll try again... IF a barrel cost $29.00 (p/barrel) then what is a barrel? What are "they" referencing as a $29.00 barrel? That's where I'm confused (very).

Jeeze! Didn't expect this to get all scientific and stuff.

I just thought it was funny that I could go to the feed & grain here and buy a 55 gal steel barrel for less than the cost of the oil in it. I like the rest figured price of oil per barrel was for 55 gals.

Around here, food barrels and some non hazardous product (food related) barrels are recycled, but you'd be really hard pressed to find a salvage yard that wants to mess with them. There was a place in Arizona that did nothing but recycle oil & solvents and recycled the barrels but last I heard the place had some sort of explosion and burned down. So at least in my area, it costs you more in gas to haul them to a junk yard (if they'll take em) that you'd make on scrap value. The only other alternative is to put em up on Craigs list but the going rate there is $10 for plastic and $10 - $15 for steel and nine times out of ten they want you to deal with the mix of all the fluids they've dumped out of their cars for the last 10 years from a barrel in the back yard that the bottom is almost rusted out of.

 

[Limitool]

That's because I got all stupid.... But that's not hard for me to do... comes naturally actually.

 

[Frankn]

Well, in my long life,I have seen steel barrels in sizes from 36 gal to 55 gal. and that's not counting the aluminum ones that have held beer ( commonly refereed to as kegs). In my early days, the steel ones were called drums. There use to be a guy around here years ago that sold barrels with lids that he purchased and washed out. I think they originally contained syrup, molasses or a form of sugar. He is gone now. I am looking for two to use in construction of a wood burning 2 drum heating system. Guess I will check out the grain store.

When thinking of OIL, don't limit your thoughts to motor fuel. Most plastics are made of OIL. That covers a lot of items from clothing to most parts of the computer, pad, or phone you are now using. And think of all those tires. That drop in oil price should translate to a lower cost of just about everything, but you know it probably won't. The rich industrial owners will just stash more in there billionaire bank accounts. Frank

PS Remember my prediction for this year, that oil will average in the 30"s/bbl

 

[Msbeepbeep]

That's because I got all stupid.... But that's not hard for me to do... comes naturally actually.

Na, it just winter and a lot of us are couped up inside, so we are willing to pick apart anything including ideas just to see how it works and what's inside!
Its just the nature of the beast....I'm not calling you a beast. Lol!

 

[Limitool]

Na, it just winter and a lot of us are couped up inside, so we are willing to pick apart anything including ideas just to see how it works and what's inside!
Its just the nature of the beast....I'm not calling you a beast. Lol!

Hell Karen.... "beast" - That doesn't even hit my verbal radar. I've been called (I think) about every bad word in the English language. Try again....

 

[boogeyman]

That's because I got all stupid.... But that's not hard for me to do... comes naturally actually.

That's why I understood exactly what you meant! We're in the same boat! BTW anyone seen the paddles? Ithink I've got you beat! You've got natural skills, I've got way more years experience & practice!