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Oil price: Brent crude hits 11-year low

bbc.co.uk

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Re: Oil price: Brent crude hits 11-year low

#51

Post by mikeash »

dingaling wrote: post #50
mikeash wrote: post #47

Earlier quoted context omitted.

Stones can be found just lying around on the ground all over the world. I don't care how cheap oil is, it's not cheaper than "you can bend down and pick some up." Cheaper than bottled water? No it's not. You can find some bottled water that's more expensive, sure, but you can find bottled water that's cheaper too. I'm sure you can find some oil somewhere that's more expensive than good champagne, too. Bottled water i…

The stones you can pick-up from the ground aren't much use in construction other than for rubble-fill, which requires quantities vastly greater than available in free [position] material. To gather them in kilotonnes you'll need to remove and sift the regolith layer. A lot more expensive than 'pick some up'.

I don't believe the Stone Age was primarily about stone construction.

Re: Oil price: Brent crude hits 11-year low

#52

Post by DanBC »

mikeash wrote: post #47
dragontamer wrote: post #43

Earlier quoted context omitted.

> Stone is way more common Stone is literally more expensive than oil. Note that at $2.00 / gallon, gasoline (refined oil) is twice as cheap as bottled water. At $35 / barrel (ie: $35 per 55-gallon drum), crude oil is literally cheaper than a huge number of commodities. Crude Oil is roughly $0.65 per gallon. Definitely cheaper than stone by every measurement.

Stones can be found just lying around on the ground all over the world. I don't care how cheap oil is, it's not cheaper than "you can bend down and pick some up." Cheaper than bottled water? No it's not. You can find some bottled water that's more expensive, sure, but you can find bottled water that's cheaper too. I'm sure you can find some oil somewhere that's more expensive than good champagne, too. Bottled water i…

> Cheaper than bottled water? No it's not.

http://www.businessinsider.com/bottled-water-costs-2000x-mor...

> > "The [bottled water] industry grossed a total of $11.8 billion on those 9.7 billion gallons in 2012, making bottled water about $1.22/gallon nationwide

Parent post says

> > > Crude Oil is roughly $0.65 per gallon.

Re: Oil price: Brent crude hits 11-year low

#53

Post by mikeash »

DanBC wrote: post #52
mikeash wrote: post #47

Earlier quoted context omitted.

Stones can be found just lying around on the ground all over the world. I don't care how cheap oil is, it's not cheaper than "you can bend down and pick some up." Cheaper than bottled water? No it's not. You can find some bottled water that's more expensive, sure, but you can find bottled water that's cheaper too. I'm sure you can find some oil somewhere that's more expensive than good champagne, too. Bottled water i…

> Cheaper than bottled water? No it's not. http://www.businessinsider.com/bottled-water-costs-2000x-mor... > > "The [bottled water] industry grossed a total of $11.8 billion on those 9.7 billion gallons in 2012, making bottled water about $1.22/gallon nationwide Parent post says > > > Crude Oil is roughly $0.65 per gallon.

My point is that bottled water prices vary enormously, because it's pretty much a pure convenience and branding product. Looking at the average is meaningless, and comparing it with oil is silly. Look at the price of the underlying commodity (water) and see what that costs.

Re: Oil price: Brent crude hits 11-year low

#54

Post by simonh »

norea-armozel wrote: post #49
ambicapter wrote: post #41

Earlier quoted context omitted.

How are they going to 'switch over to some other industry'? They can't just turn on the scientist brigade the way you turn on an oil well.

That's why I'm asking. Are they planning ahead or just playing financial chicken?

They've all been sinking money into sovereign wealth funds, and Dubai has been spending big on expanding it's airlines, promoting its airport as a global hub and developing a tourist industry. They're attempting to diversify their economies but whether or not any of that turns out to be sustainable without massive subsidies from oil profits is dubious.

Re: Oil price: Brent crude hits 11-year low

#55

Post by dragontamer »

mikeash wrote: post #47
dragontamer wrote: post #43

Earlier quoted context omitted.

> Stone is way more common Stone is literally more expensive than oil. Note that at $2.00 / gallon, gasoline (refined oil) is twice as cheap as bottled water. At $35 / barrel (ie: $35 per 55-gallon drum), crude oil is literally cheaper than a huge number of commodities. Crude Oil is roughly $0.65 per gallon. Definitely cheaper than stone by every measurement.

Stones can be found just lying around on the ground all over the world. I don't care how cheap oil is, it's not cheaper than "you can bend down and pick some up." Cheaper than bottled water? No it's not. You can find some bottled water that's more expensive, sure, but you can find bottled water that's cheaper too. I'm sure you can find some oil somewhere that's more expensive than good champagne, too. Bottled water i…

> Bottled water is a terrible comparison anyway, because most of what you're paying for is the "bottled."

I was under the understanding that you're paying for a purified chemical compound with Bottled Water. Very similar to Gasoline actually. Its a purified chemical that matches specific specs.

One is a chemical that you drink, the other is a chemical your car drinks. Beyond that, the effect is the same.

If you don't think Bottled Water is a good example, then I'll change the analogy to Gatorade.

Re: Oil price: Brent crude hits 11-year low

#56

Post by mikeash »

dragontamer wrote: post #55
mikeash wrote: post #47

Earlier quoted context omitted.

Stones can be found just lying around on the ground all over the world. I don't care how cheap oil is, it's not cheaper than "you can bend down and pick some up." Cheaper than bottled water? No it's not. You can find some bottled water that's more expensive, sure, but you can find bottled water that's cheaper too. I'm sure you can find some oil somewhere that's more expensive than good champagne, too. Bottled water i…

> Bottled water is a terrible comparison anyway, because most of what you're paying for is the "bottled." I was under the understanding that you're paying for a purified chemical compound with Bottled Water. Very similar to Gasoline actually. Its a purified chemical that matches specific specs. One is a chemical that you drink, the other is a chemical your car drinks. Beyond that, the effect is the same. If you don't…

Most bottled water is just tap water from whatever local service the bottling plant has. How much do you pay for water at your house? That's how much the "purified chemical compound" actually costs.

Re: Oil price: Brent crude hits 11-year low

#57

Post by DanBC »

mikeash wrote: post #53
DanBC wrote: post #52

Earlier quoted context omitted.

> Cheaper than bottled water? No it's not. http://www.businessinsider.com/bottled-water-costs-2000x-mor... > > "The [bottled water] industry grossed a total of $11.8 billion on those 9.7 billion gallons in 2012, making bottled water about $1.22/gallon nationwide Parent post says > > > Crude Oil is roughly $0.65 per gallon.

My point is that bottled water prices vary enormously, because it's pretty much a pure convenience and branding product. Looking at the average is meaningless, and comparing it with oil is silly. Look at the price of the underlying commodity (water) and see what that costs.

So when you said "cheaper than bottled water? No it's not" you didn't mean cheaper, nor bottled, nor water?

Re: Oil price: Brent crude hits 11-year low

#58

Post by mikeash »

DanBC wrote: post #57
mikeash wrote: post #53

Earlier quoted context omitted.

My point is that bottled water prices vary enormously, because it's pretty much a pure convenience and branding product. Looking at the average is meaningless, and comparing it with oil is silly. Look at the price of the underlying commodity (water) and see what that costs.

So when you said "cheaper than bottled water? No it's not" you didn't mean cheaper, nor bottled, nor water?

I meant: "You can find some bottled water that's more expensive, sure, but you can find bottled water that's cheaper too."
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