Ready for US $262 a barrel oil?

[Dodge]

at least its keeping the interist rates down, would rather pay 20 bucks a week more in gas than 40 in the morgage

[ltd]

Australia does not produce 85% of our own oil. We buy our petrol from singapore as they are alot more efficient than us at refining it. Our oil is Light Sweet Crude, meaning it has a low sulphur content. What this means is that there are fewer cuts from the crude ie petroleums, kerosines, parafins, lubricating oils etc and as such it is far too expensive to refine on its own. The small amount of petroleum we refine here is derived from a mixture of bent crude, middle eastern crude and our light sweet crude. This way, the yield from each litre of crude is much higher.

The price of Australian crude is set by international prices. This parity pricing arrangement was introduced in the 1978-79 budget by Malcolm Fraser. Australian Crude has been trading on the world market at around these prices ever since.

As for refining capacity, we simply do not have enough capacity to refine enough oil for all of the products we use. As a result, we source refined petroleum from singapore and other nations that have greater economies of scale in their production, and as such the refining costs are less than ours. To refine all of our requirements here would take a multi billion dollar investment, and frankly, with the minor political parties like the greens around can anyone recommend anywhere that such refineries would be able to be established?

As for Iran flexing it's muscle, Keepleft you hit the nail on the head. We (western nations) cannot sit idle when a despotic madman announces how he is going to launch a nuclear strike against the only non arab country in the middle east. Before a whole diatribe of jewish jokes and islamic jokes are propogated let us imagine in this instance Iran was targeting Australia instead of Israel. The US is right in it's position, much the same as it has stood up to North Korea (Mr Hurrrooooo, Hanz Brix your breakin ma Borrs). The UN sought the US involvement with Iran this time and initially, the US was not interested (sort of payback for denouncing the Iraq issue).

As for Iraq, the US is training the Iraqi troops. As the US must adhere to rules of engagement, in most cases they are sending Iraqi troops in to do what they are not allowed to ie, Douglas Woods who was rescued by the Iraqi Army who went in, shot all of the captors and left. The US however is required to secure the premises, and capture the captors instead of killing them. Basically, you will see more Iraqi Army movments in tense situations as they are allowed to shoot to kill first, and ask questions later. The US has to play war by the rules, the Iraqi Army does not. The instant advantage that the insurgents had, is being reduced daily. Also, Iraq has become a hotbed of terrorism for operators like Al Queerda, with faggots like Osama asking all of his inbred misguided suiciders and "operatives" to enter Iraq and take on America there.

Finally, when the war in Iraq commenced, all of the loonie left were taking to the streets with signs saying its all about oil. Consider a few facts though,

The war in Iraq has so far cost the US over 1500 billion dollars - who wins there?
Oil is at its highest price it has ever been for over 25 years, what's the incentive?
The US voter is divided on the issue, which political party wins there?
The US has designated revenue from oil be used to rebuild Iraq, who wins there?

[Fairlane]

Dont want to go into politics too much (i don enough of that at UNI) and this kind of OT, but the guy in Iran is just asking to be blown to kingdom come, what the hell is he playing at. All because they have oil and OPEC they think they can tell the secuirity council to go get bent, they have been offered enriched unranium for peaceful purposes, but they refused, so what do they expect. Saying that they are going to cut the arm of any invader is just plain sucidial. Im a leftie but i just cant see any logic in defending Iran.

On the global pricing point its a reality, even if Australia was self sufficient with oil, we would probably still pay the global price, unless oil was nationalised or there were tariff barriers, what self respecting oil company would sell oil in Australia for less than the global price.

[SpoolMan]

Anyone see channel 10 coverage of the V8 SuperCar they had a special with the Jim & Ross Stone and a servo they used to own in NZ, they were out the front having a chat about where it all started for SBR, behind them was the fuel price board, unleaded $168.9 a litre and LPG $122.9 A LITRE.

[jonbays]

getting the pushbike out now!

[DDXR6T]

Originally Posted by jonbays

getting the pushbike out now!

Seconded!

Motion Carried!!!

[jmc-007]

Originally Posted by flappist

If the third world tries to hold USA & China to ransom over this then they will be occupied and their oil "aquired".

End of story.

Anyone who believes anything else is in for a shock........

That is true. Get your battle hats out fellas. WWIII is around the corner.


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