Remember that close-to-final scene in “The Day After Tomorrow” when Sam and his friends, along with some older staff, dug deep inside the New York Public Library, pander in a books burning orgy so they may prevent an instant freezing of their bodies? That movie is a milestone! If you haven’t watched it yet, then do this because global warming, turned to climate change, may as well head further South into a novel Ice Age. Yes, the other film (an excellent cartoon) producers will release version 4 any time soon, but let’s get serious, down to business! Read The Price of Oil

“The root causes of the transitions from Ice Age to interglacial and back again are the subtle variations in the Earth’s orbit known as the Milankovitch cycles, after the Serbian scientist Milutin Milankovic who described the effect nearly 100 years ago.

The variations include the eccentricity of the Earth’s orbit around the Sun, the degree to which its axis is inclined, and the slow rotation of its axis.

These all take place on timescales of tens of thousands of years.

The precise way in which they change the climate of the Earth from warm interglacial to cold Ice Age and back every 100,000 years or so is not known.

On their own, they are not enough to cause the global temperature difference of about 10C between Ice Age and interglacial. The initial small changes are amplified by various factors including the release of carbon dioxide into the atmosphere as warming begins, and absorption of the gas by the oceans as the ice re-forms.”

Source bbc.co.uk: Carbon emissions ‘will defer Ice Age’

Shivers… brrr… This means that all this Kyoto Protocol trading scam would have brought us closer to the next ice age. Good riddance.

“The broad conclusions of the team were endorsed by Lawrence Mysak, emeritus professor of atmospheric and oceanic sciences at McGill University in Montreal, Canada, who has also investigated the transitions between Ice Ages and warm interglacials.

“The key thing is they’re looking about 800,000 years back, and that’s twice the 400,000-year cycle, so they’re looking at the right period in terms of what could happen in the absence of anthropogenic forcing,” he told BBC News.

He suggested that the value of 240ppm CO2 needed to trigger the next glaciation might however be too low – other studies suggested the value could be 20 or even 30ppm higher.”Image

Translated to politically induced language, more amazing science (keep in mind: so far as you blindly believe in “science” that’s not like religion, it’s different, ya know) is telling us the following: we have to burn all the gas and all the crude oil at hand (as much as we can, as fast as we can) in order to keep the CO2 levels high, and possibly bring them higher, so that we can force back, in our anthropogenic well-known style, the next Ice Age (no, not the movie Ice Age 4; we love the movie!; right, Sid?).Oil Price

Drill, baby, drill! And burn, baby, burn! This should be the slogan for environmentalists and planet lovers, tree huggers, of the morrow. They’ll have good reason to demand from their old Nemesis (Big Oil) to sink the prices for crude and natural gas so that the people can burn more of it, and faster, to keep CO2 high, for the sake of mother nature…

Cancer by benzene intoxication would cause more death than the sinking Maldives, the fewer polar bears or Lex Luthor’s new Nevada shoreline.

I, for one, am skeptical about the weather forecast announcing yet another cold spell for the next weekend. I just ponder what if some unexpected hot air will counter again with a mild fuss. On the contrary, I’m almost certain about the expected temperatures for tomorrow. Although nothing is carved in stone, short range predictions give us a practical sense in life, while long range (or too long, or beyond-the-eon long) forecasts are just excellent theories. Not something to rely on with your plans or money. Unless you’re a statist swindler or a political gambler.

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In the current news, crude oil prices has increased with 20% in the last quarter, this whilst Brent Crude has risen 38%. The increase in the price of oil has been triggered by the improving demand for fuel. Many companies are now trying to speed up the search for oil and natural gas with a high liquid content.

Houston located company Apache Corp (APA.N) reported earnings close to $1.1 billion, which equivalents to a $2.86 per share price, compared to the year earlier where the numbers were about $705 million, or $2.08 per share.

More relevent info about the price of oil.

During this stormy days, that we’re living, the crude oil price experience a great variety. On the one side there is the economy crisis of the United States, on the other the hurricane season in the Gulf of Mexico.

At the moment, the Congress of the United States could originate a “last minute” bailout plan, which could save the country from the total bankrupt. But who knows how long this will work?

In the next 48 hours, hurricane Eugene will take over on the East Coast. Not a nice event for the traders. Actually, 29% of the USA’s oil refineries are located in the Gulf of Mexico. If the hurricane will damage the plants, this would have also a great influence on the development of the oil prices.

Actually, the Brent crude didn’t changed a lot during the month, the actual price amounts $116.89 per barrel. WTI, however, had a very excited July. In the last weeks, the barrel cost even $100, but today this seems to recovered, $95.44 a barrel.

More Relevant oil price

It’s less about “energy independence” for a nation and more about private sector extraction, transportation and refining of crude oil – a commodity on the global market.

“But even if we ramp up production significantly, will it really change the conditions here on the home front all that much? We previously looked at a conspiracy theory regarding evil oil companies shipping all of the Keystone XL oil overseas and not letting us use it at home. That’s nonsense, of course, but it does teach us another important lesson. Oil is traded in a global market without distinction as to the nationality of the person writing the checks. While the energy industry provides a huge boost to the United States in terms of GDP, jobs and investment profits, they are not in this game for the purpose of driving down prices at home by flooding the domestic market with product.” More about The Price of Oil ….

“Think of it this way: let’s say that our national consumption rate is “x” number of barrels of oil per year. If we (along with Canada) are producing X + one million barrels, you might think that all is well. Prices should be dropping and we can thumb our collective noses at the Saudis, right? Not really.”

“Even we produce above and beyond our needs, China still produces very little and has a massive thirst for oil. (They’re hardly the only ones, either.) The more we make, the more will be sold around the globe.”

 

BEIJING – China’s biggest producer of rare earths is suspending production for one month in hopes of boosting slumping prices of oil / exotic minerals used in mobile phones and other high-tech products.

This week’s move by Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech might fuel tensions with the United States and Europe. They have questioned Beijing’s decision announced earlier to limit exports while it tries to develop its own manufacturers of magnets and other products made of rare earths.

In a statement through the Shanghai Stock Exchange, Baotou Steel said it wants to “balance supply and demand” after prices for rare earths fell amid uncertainty about the U.S. and European economic outlooks.

Rare earths are a group of 17 minerals used in manufacturing flat-screen TVs, mobile phones, batteries for electric cars, wind turbines and weaponry.

It’s also good to know that “China has about 30 percent of global rare earth deposits but accounts for 97 percent of production.” Why did other countries, having about 70 percent of global rare earths deposits, stopped mining them? The short answer to this is that “there’s no such thing as pollution in China” (a non-physics statement, to be more precise). The long answer is that China lowered production costs, hence market prices, to such a level that it was more profitable to import rare earths from there than to mine for them at home. But things, it seems, start to gradually change.

Note- Crude oil is Petroleum. This word comes from the latin word petra which means rock and oleum which means oil. In some ways we could then call it rock oil. (based on the geology and mineralogy)
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