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I tried to buy an actual barrel of crude oil (2015)

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Re: I tried to buy an actual barrel of crude oil (2015)

#81
post #24
post #10

Considering that the front-month oil contracts went negative today (paid to buy a barrel of oil), I think more (well funded and adept) players will try to hastily arrange more storage facilities. There's just no place to put the stuff right now. It's quite difficult to turn-off an active well. Deep-water wells are all but impossible to stop.

Nobody's going to spend money to build new storage facilities for an oil glut that will go away in, at most, a month or two.

If you're sure about that, I hope you're investing accordingly...

Re: I tried to buy an actual barrel of crude oil (2015)

#83
post #6

NPR's Planet Money also bought some oil: https://www.npr.org/sections/money/2016/08/26/491342091/plan...

I think Planet Money also bought a mortgage backed security a while back when things had already gone south. They tracked the houses involved and their history. It was interesting to see the investment tied to specific homes, and etc.

They also have a bot kicking around somewhere to buy stocks on Trump tweets. Pretty interesting stuff.

Re: I tried to buy an actual barrel of crude oil (2015)

#85
post #40

Earlier quoted context omitted.

If you auto merged the comments from the last time, in theory they would quickly fall to the bottom because their time based value would be so much lower than the new stuff. Maybe also disable replies to old comments and make them a different color? To be fair, we could never figure out how to get this right on reddit either, but HN has a better comment sorting algorithm than reddit so it might actually work here.

what about automerging all comments +1 layer deeper with the bot comment (in the same form dang does it now) as the universal parent? it prevents the feature creep\bloat of adding a notification system, and maybe be backwards compatible with the web and mobile versions, and if people dont want it they can collapse the whole thread (or maybe it starts collapsed anyway)

That's actually a pretty fantastic idea. I like it!

Or just have a bot account post a link to the previous discussions. Even that would work, just so that dang doesn't have to do it manually.

Re: I tried to buy an actual barrel of crude oil (2015)

#88
post #14
post #12

Earlier quoted context omitted.

>Deep-water wells are all but impossible to stop. While I realize you're referring to a functioning deep-water well, working as designed, I can't help but remember the complete mess from Deepwater Horizon. If it's difficult to stop a correctly functioning deep-water well, I have even more respect for that mess of a situation (and a bit more disdain for the practice in general): https://en.m.wikipedia.org/wiki/Deepwat…

That was ten years ago today, actually. I just watched this wonderful 11 minute video on the failure: https://www.youtube.com/watch?v=FCVCOWejlag

Those videos are great, very educational. Like a mashup of Khan Academy, Derek Lowe, and Calvin & Hobbes.

Re: I tried to buy an actual barrel of crude oil (2015)

#89
post #67
post #13

Earlier quoted context omitted.

Actually, deep water wells are usually quite easy to shut in by design. They frequently need to be shut in due to hurricanes or infrastructure maintenance. You don't drill a $100 million deepwater well without all the bells and whistles. Very cheap wells with low production (onshore, say ~10 barrel per day) are the ones that tend to be difficult to shut in, as they're not designed for easy temporary shut-ins. That ha…

That might have been true 20-30 years ago. Today, all of the easy oil has been tapped. They're going out farther, deeper, and under much high pressures than before. Oh, and they're less regulated. > You don't drill a $100 million deepwater well without all the bells and whistles. You will if you can make a couple $B off it. It's a risk. The deep gulf has mudslides that take out rigs. It happened to Taylor Energy in 2…

What does that have do the ability to shut in a well? A shut in isn't stopping something that's leaking or stopping a blowout. It's the ability to deliberately and temporarily stop production.

A loss of containment is very very very bad and a huge problem, but it's not related to a shut in.

I'm well aware of shallow hazards (e.g. mass wasting aka mudslides). I've mapped them in many areas. I'm well aware of the ongoing Taylor spill. I've actually worked with monitoring it using satellite imagery from the regulatory side. I've also worked with it from the oil industry side...

None of that is even remotely relevant here, though... I'm still very unclear how anything you mentioned relates to anything I said...

That having been said, if you think _anything_ around the oil industry isn't done with safety and environmental concerns first and foremost, you've _clearly_ never been anywhere around the industry. I'm dead serious.

What they do is really, really, really damned dangerous and it's fair to debate whether that risk is worth it at a societal level.

However, don't for a goddamn second think that these folks don't care or are sloppy. _Every_ meeting all the way to the top starts with a discussion about safety and possible environmental impacts. I really, really mean that... Every damn one. It's vastly more important than very literally anything else. The first decision is _always_ HSE, never money.

Yeah, things can go wrong in very bad ways. It's not because people don't care or are trying to make a buck at the expense of the environment. It's because they're working in a really difficult environment. Yes, deepwater horizon was preventable. Yes it was due to a poor well design. BP fucked up. That doesn't mean that the oil industry is some evil mustache twirling villain.

You want cheap vegetables, flights across the continent, and plastics? Right now, we have to have oil for that. It ain't ideal, but it's not because people are out there trying to make money off of environmental disasters.

Re: I tried to buy an actual barrel of crude oil (2015)

#90
post #62
post #52

Earlier quoted context omitted.

Why do you want to discourage replies to old comments?

Because the people who made the comments won't know that someone replied since HN doesn't have a notification system.

That doesn't seem like a reason to disallow necro-replies? The primary reason people write replies isn't communication with the parent commenter.
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