oil prices

[wmoebis]

I wonder if one oil well in golf will have a big effect on oil prices? I'm sure it will be an excuse to skyrocket fuel.

If only we could do the same with our canola or will it fallow oil? Maybe even wheat for ethanol production.

[bucket]

The fact the government doesn't freeze prices on oil and gas means the consumers are going to pay for this mess.

All the executives get on a conference call with opec and say " we gotta pay for this somehow".

That one well has ruined hundreds of thousands people's livings and BP can afford to compensate them all?

I am not big on government intervention but but if the people responsible don't take the same financial hit that they caused to others - there is something wrong.


If this doesn't break BP, then why should hundreds of non-related industries go broke?

[dave4441]

Long term, the lack of offshore drilling, or restricted drilling with higher costs should cause higher oil prices, short term one well is likely a non issue wether it is 5000 barrels or 50000/day. Maybe ethonal starts to look a little cleaner/greener.

[agstar77]

When I picked up my 560 , it was dated april 2009. No wonder they are in trouble.

[furrowtickler]

They have brought this on themselves, again, much like Potash corp. Pin a farmer down and they will fight back. This also explains why Monsanto wanted farmers to pay the TUA on seed booked from Nov. to Feb.

[cottonpicken]

Trust me its not a good sign when a directly leveraged
ag company goes down in value,its a bet against
higher grain prices.

[furrowtickler]

Or did china open the glyphos tap, and companies like FNA help bring chem prices back to earth, offering farmers a choice? I could be wrong.

[DogPatch]

Some might argue that the quality of the Chinese product might leave something to be question. Somewhere quality might suffer I am afraid.

[furrowtickler]

The point is, North American made product has become reasonable. You do not have buy the cheapest stuff on the shelf, it just made overly expensive products more reasonable to buy givin current grain/pulse/oiseed prices and lower projected returns, JMO.

[ColevilleH2S]

Any Chinese stuff I have used kills weeds just like the all the rest of them. That is about all I want it to do, song and dance not needed.

[dave4441]

I believe, about a year ago it was estimated that China had the ability to produce about 1/3 of the world's tech needs for glyphosate. Estimate today is they have the ability to produce a 100% of the global needs, following a ramp back up of production since rules surrounding the Olympics were relaxed. I think this was under estimated by Monsanto and forced a virtual collapse of glyphosate pricing. This was one of the reason's glyphosate prices went up a couple years ago as well, as many production facilities in China were forced to shut down for the olypmics due to air quality issues, and China's desire to show a "clean china" to the world. Now dollars are what matters. Amazingly, bottled water costs more then Glyphosate.

[ajl]

I used knockout this spring and it killed the weeds just fine. Monsanto wastes a lot of money doing useless research like GM wheat. The last thing we need is the technology to produce more wheat. Cut that useless research out and they would do just fine. It is nice to see the humbling of Monsanto. Hopefully others will follow.

[bgmb]

What is the cheapest glyphosate out there right now anyway?

[sawfly]

when we had our supposed shortage a year ago , Monsanto put the screws to us back up to 8 or 9$.
6-8 $/lb. for canola seed
at this point i will buy the china stuff even if it costs more.
time and time again it has been proven that the only real chem competition comes out of china.
we sell our products at world prices ,
we need access to inputs at world prices

[boarderbloke]

I agree sawfly, just hoping there isn't too much lead in their chem!