Saudi ArAmCO CEO: We will prevent alternative energy technologies and Obama is a dreamer...

[alpine]

Saudi ArAmCO CEO: We will prevent alternative energy technologies, because we depend on OIL, and there is NOTHING wrong with that, and Obama is a dreamer, not realistic...

 

[Mr. H.]

There is nothing inherently wrong with oil.

 

[alpine]

But why would you prevent alternative energy...
Alternative energy would do only 1 thing to oil, make it cheaper for you.
Any oil consumer wanting to prevent or allowing the prevention of alternative energy, is simply a fool...

 

[waltky]

Saudi Arabia may get a new oil poobah...

Expectations of Saudi Oil Shake-up Stir Uncertainty
September 08, 2015 | A shake-up of Saudi Arabia's oil leadership by King Salman has introduced a new element of unpredictability to its energy policymaking at a moment when Riyadh is grappling with slumping crude prices and its war in neighboring Yemen.

State oil giant Aramco has been without a permanent chief executive since April, when Khalid al-Falih was made health minister, and the old Supreme Petroleum Council, where energy policy was historically made, was abolished in January. While the world's top crude exporter has always prized stability and consistency in crafting oil policy, the changes, alongside a shift in market strategy that contributed to the world price slump, have left analysts and traders guessing as to King Salman's long-term vision. The main tenets of Saudi oil policy — maintaining the ability to stabilize markets via an expensive spare-capacity cushion and a reluctance to interfere in the market for political reasons — are still set in stone, say market insiders.

Saudi Aramco Chief Executive Officer Khalid al-Falih, right, at the company's booth during Petrotech 2014, Bahrain International Exhibition Center, Manama

But the uncertainty has led to speculation over the fate of both veteran Oil Minister Ali al-Naimi and the wider composition of the kingdom's energy and minerals sectors, with rumors abounding that a sweeping restructure could be imminent. "There will be changes [at the oil ministry], but no one knows when or what will happen next. It could be tomorrow, next week or a month from now," said a Saudi insider. "The decisions are being taken by a small circle of people and a few advisers."

The key person in that small circle is Prince Mohammed bin Salman, the young deputy crown prince who without having any previous oil experience has emerged since his father's accession to power as the most powerful figure in Saudi economic and energy policy. The prince heads both an economic development supercommittee and a new council overseeing Aramco, making him the first royal ever to directly supervise the state oil giant, the world's biggest energy company. The sense of unpredictability has only been sharpened by the wider geopolitical and market climate. "It's anybody's guess what will happen next," said a Western diplomat in Riyadh.

Market Changes

See also:

OPEC: Indonesia to Rejoin Oil Group After 7-year Break
September 08, 2015 — Indonesia is reactivating its membership of the Organization of the Petroleum Exporting Countries in December, OPEC said on Tuesday, which would add almost 3 percent to the group's oil output already close to a record high.

The southeast Asian country would be the fourth-smallest producer in the Organization of the Petroleum Exporting Countries ahead of Libya, Ecuador and Qatar, and bring the number of participants to 13 countries. Indonesia was the only Asian OPEC member for nearly 50 years before leaving the group at the start of 2009 as oil prices hit a record high, and rising domestic demand and falling production turned it into a net oil importer.

In a statement, OPEC said Indonesia's request to reactivate its full membership was circulated to OPEC members and following their feedback, OPEC's next meeting on Dec. 4 will include the formalities of reactivating its membership. "Indonesia has contributed much to OPEC's history," the statement from the group's Vienna headquarters said. "We welcome its return to the Organization." Indonesia's Energy Minister, who OPEC said will be invited to December's meeting, told Reuters earlier on Tuesday the country would return as a full member.

The Organization of the Petroleum Exporting Countries (OPEC) logo is pictured at its headquarters in Vienna

The development is no great surprise as in OPEC terms Indonesia never really left. OPEC termed its departure a "suspension." Ecuador, which rejoined in 2007, set a precedent for a return from suspension. OPEC sources made clear the door was always open. Indonesia's status as a net importer had raised the question of whether it would return as a full member given that OPEC's Statute says any country with a "substantial net export of crude petroleum" may become a full member. OPEC pumps more than a third of the world's oil and is engaged in a defense of market share, having dropped its long-standing policy of cutting output to support prices in November 2014.

The addition of Indonesia's output will boost OPEC's production by about 2.6 percent based on July output figures towards 33 million barrels per day (bpd) - far in excess of OPEC's 30 million bpd official target. OPEC output has not been above 32 million bpd since 2008, before Indonesia's exit. Indonesia produced 840,000 bpd in July, according to the International Energy Agency, and OPEC pumped 31.88 million bpd in July according to a Reuters survey - the highest monthly rate on record from the current 12 members.

OPEC: Indonesia to Rejoin Oil Group After 7-year Break

 

[browsing deer]

In days of yore I thought dreamers like old rocks sere silly. Now I am on the bandwagon with them. Not because I have any great faith in electric cars yet, but because I want the sheikdoms to go broke.

But electric cars are getting to be more and more mainstream. I want to see the day now, and it may happen during my lifetime

 

[Old Rocks]

Don't know how old you are BD, but I will be 72 before the year is out, and I expect to drive an EV as my primary vehicle during my lifetime. There is one huge chunk of money waiting for the company that can produce a reasonably priced battery that has about 4 times the present energy density.

You see, this is the area that this old Lib has a lot of faith in Capitalism. Once the basic research, the blue sky stuff, is done, the entrampenuers will step up to the plate. And make it a better world for all of us.

 

[Mr. H.]

Saudi Arabia Solar Industry Association

 

[browsing deer]

There are all kinds of batteries being researched. 6 years down the road I would like to see a cheap car that can be mass produced, and the Iranians flat broke.

The Tesl is a great car, but it is a luxury vehicle at a double luxury prices.

 

[flacaltenn]

In days of yore I thought dreamers like old rocks sere silly. Now I am on the bandwagon with them. Not because I have any great faith in electric cars yet, but because I want the sheikdoms to go broke.

But electric cars are getting to be more and more mainstream. I want to see the day now, and it may happen during my lifetime

Then you need a REALISTIC plan. Not a fairytale.. Oil has virtually nothing to do with the electrical grid. And wind and solar are NOT alternatives to Oil.. Big disconnect there with the rhetoric that you HEAR riding Old Rock's band wagon..

YOU DID correctly identify one way to make a DENT in OIL by transferring SOME of the transportation energy to the GRID --- but that's the fairy tale part.

Wind and solar are AT BEST peaker technologies. They cannot be used to RAISE the actual backbone capacity of the electrical grid.. So if you want that 30 or 40% increase in electricity to sock it to the Saudis -- you gonna need about 250 new nuclear plants.

 

[browsing deer]

In days of yore I thought dreamers like old rocks sere silly. Now I am on the bandwagon with them. Not because I have any great faith in electric cars yet, but because I want the sheikdoms to go broke.

But electric cars are getting to be more and more mainstream. I want to see the day now, and it may happen during my lifetime

Then you need a REALISTIC plan. Not a fairytale.. Oil has virtually nothing to do with the electrical grid. And wind and solar are NOT alternatives to Oil.. Big disconnect there with the rhetoric that you HEAR riding Old Rock's band wagon..

YOU DID correctly identify one way to make a DENT in OIL by transferring SOME of the transportation energy to the GRID --- but that's the fairy tale part.

Wind and solar are AT BEST peaker technologies. They cannot be used to RAISE the actual backbone capacity of the electrical grid.. So if you want that 30 or 40% increase in electricity to sock it to the Saudis -- you gonna need about 250 new nuclear plants.

Germany is producing tons of electricity by solar, as does Israel. As for nukes... we have tons of thorium, and producing electricity by thorium is a lot better than oil or coal anyway.

I would gladly pay $6 taxes for gas if it weaned us off of it and went into a national research plan like NASA to get us efficient electric cars.

 

[flacaltenn]

In days of yore I thought dreamers like old rocks sere silly. Now I am on the bandwagon with them. Not because I have any great faith in electric cars yet, but because I want the sheikdoms to go broke.

But electric cars are getting to be more and more mainstream. I want to see the day now, and it may happen during my lifetime

Then you need a REALISTIC plan. Not a fairytale.. Oil has virtually nothing to do with the electrical grid. And wind and solar are NOT alternatives to Oil.. Big disconnect there with the rhetoric that you HEAR riding Old Rock's band wagon..

YOU DID correctly identify one way to make a DENT in OIL by transferring SOME of the transportation energy to the GRID --- but that's the fairy tale part.

Wind and solar are AT BEST peaker technologies. They cannot be used to RAISE the actual backbone capacity of the electrical grid.. So if you want that 30 or 40% increase in electricity to sock it to the Saudis -- you gonna need about 250 new nuclear plants.

Germany is producing tons of electricity by solar, as does Israel. As for nukes... we have tons of thorium, and producing electricity by thorium is a lot better than oil or coal anyway.

I would gladly pay $6 taxes for gas if it weaned us off of it and went into a national research plan like NASA to get us efficient electric cars.

Germany is cutting way back on solar subsidies and some of it's original solar investment is already abandoned. Solar panels don't work with 4" of snow or ice on them. Also only work about 6 hours a day in a place like that. So you can put in ENOUGH to shave off the daytime PEAK demand. But you can't use it to GROW or EXPAND your grid capabilities.

Certainly not enough to shift cars and transport to the Grid to reduce oil demand..

You COULD however -- use wind and solar OFF THE GRID to produce hydrogen at whatever convienient time that those sketchy sources ARE available. Because you can STORE the hydrogen fuel and use it in Electric Vehicles with Fuel Cell batteries. Solves MANY issues of renewables and electric vehicles at the same time.

 

[flacaltenn]

Invest in Korean car companies, long term -- because they UNDERSTAND that hydrogen fueled electric cars are the way to REALLY stick it to the Saudis with electric vehicles..

 

[browsing deer]

Works for me!

 

[Old Rocks]

Still some major problems to iron out with hydrogen powered vehicles. Range and storage. Plus, we are right back to having to depend on someone else, where with solar and batteries, we, as homeowners, have the possibility of creating our own fuel. The market will decide the issue. Right now it is going with battery powered EV's.

 

[browsing deer]

I am basically happy with any motive power that does not give power over our economy to the mid east

 

[flacaltenn]

Still some major problems to iron out with hydrogen powered vehicles. Range and storage. Plus, we are right back to having to depend on someone else, where with solar and batteries, we, as homeowners, have the possibility of creating our own fuel. The market will decide the issue. Right now it is going with battery powered EV's.

Range and storage? Pffft.. Fill-ups completely done in minutes. Storage is simply gas compression. Something that been previously engineered. Only slightly different than all those "nat gas" pumping stations for vehicles NOW running on nat gas..

The incentive to make hydrogen with wind and solar is that "free power" you always brag about. Except that it's only "free" when it's available. And the creation of a FUEL with that sketchy energy solves the entire STORAGE issue in the first place.

You can keep up the ILLUSION that your are creating your fuel with expensive home solar -- but the reality is -- if you're not charging your car from 9AM to 4PM -- you've simply become an energy provider for someone else.. You want to go into the hydrogen Biz?? I'm sure someone will offer a home unit. IN FACT --- they already exist --- and I've shown them to you..

 

[30 year chrysler mechanic]

texas a&m natural gas to gasoline market rights to synfuels international of dallas texas. 2008 AREF pays 28.5 million in hush money , went back and paid more . now owns 25% of synfuels. AREF is now KUWAIT FINANCIAL any way you cut it OPEC OIL MONEY. kuwait now has rights to build eclairs process natural gas to gasoline in all north africa ,all middle east , all former soviet union and indian subcontinent. 2015 sabic aquires rights to build 1 in saudi arabia.

2014 saluria natural gas to gasoline takes 30 million in hush money from ARAMCO and gets seat on board of directors.

2008 syntroleun sells most advanced most efficient fisher tropsch process ever developed to communist china. developed with U.S. AIRFORCE funding as part of plan to be totally independent on ctl jet fuel by 2016 . plan cancled in 2009. the 80 barrel a day demostration plant in catoosa oklahoma was dismantled and reerected in china. as soon as it turned out first gallon china called sasol and canceled 2 multi billion dollar ctl plants that were to produce diesel at $15 PER BARREL. just how cheap can this advanced american coal to diesel produce fuel for????

 

[Political Junky]

For some reason middle and lower class Americans on the Right feel a need to support the rich and the oil industry.

 

[Synthaholic]

I want the sheikdoms to go broke.

I agree.

 

[HenryBHough]

Tesla is losing most of the liberal elite purchasers. Not because Tesla's cars lack environmental appeal.

Nay, because Tesla refuses to make stretch limos.