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Originally Posted by sailingfun
(Post 4022892)
Change in policy, instead of keeping the Straight of Hormuz open we are now blockading it to keep it closed.
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Originally Posted by Buck Rogers
(Post 4022897)
Are you aware that the US blockade is only in force against shipping to/from Iran.....not all the other ports in the Persian Gulf?
https://www.bbc.com/news/articles/c3w39lg84w2o |
Originally Posted by Buck Rogers
(Post 4022897)
Are you aware that the US blockade is only in force against shipping to/from Iran.....not all the other ports in the Persian Gulf?
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Originally Posted by sailingfun
(Post 4022902)
Yes, and we now just lost our last ally in the world and could face some interesting situations. The UK says their Navy will not participate with the US and the UK will work to keep the straights open.
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Originally Posted by at6d
(Post 4022923)
The UK is our last ally? This is not correct.
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Originally Posted by Judge Smails
(Post 4022887)
A simple AI search would explain how that’s possible, and oil has reached $211 (adjusted for inflation) a barrel at the consumption rate of 85-86 million barrels per day in 2008. I still remember it well as a starving RJ FO paying $4.29 a gallon for 87 octane in July 2008, which is the equivalent of $6.44 a gallon today.
2008 USA oil production was 5mbpd, 2025 was over 13MPBD and limited at that because of a $50-60 price point. A small process was invented called fracking, and the USA has millions of barrels of oil at a cost index way below $200 a barrel. OPEC drives the price of oil down every few years to maintain market share and run the frackers out of business and their ch11/7 add a base cost per barrel to the future operators. |
Originally Posted by OpieTaylor
(Post 4022950)
Not following. At 85-86mbpd we don’t need the SOH.
2008 USA oil production was 5mbpd, 2025 was over 13MPBD and limited at that because of a $50-60 price point. A small process was invented called fracking, and the USA has millions of barrels of oil at a cost index way below $200 a barrel. OPEC drives the price of oil down every few years to maintain market share and run the frackers out of business and their ch11/7 add a base cost per barrel to the future operators. |
Originally Posted by Judge Smails
(Post 4022958)
You're not following. Global daily consumption was 85-86 mbpd in 2008. We're at 105-106 mbpd today. The oil market is also not segmented into nations. It's global, we're all holding hands in this.
Your average steak consumption per year is at a specific price point. If you eat 20lbs of ribeye per year it was at a price point and not at all price points. Demand falls hard when oil goes up, some dude somewhere cancels driving 300 miles one way to buy a boat that’s burns 30gph. Gas by my house was $2.20 a gallon before this by my house. Drive that backwards to 2008 and see how cheap it is to cause more demand. The consumption “snapshot” makes the straight look more important and gives iran more to hold out. |
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