I DON’T MIND COMING TO WORK… BUT THAT NINE HOUR WAIT TO GO HOME IS A BITCH
3 January 2008
Windy Thursday (28 Degree Celsius)
Night@ 2340 (Singapore Time)
Listen: 勇敢 by 张惠妹
Mood: *Still Don’t have a Cow, man*
And when you think hikes are the byword of the yesteryears, Sing Power decides to join in the station wagon; Price hike cos Oil per barrel is increasing exponentially. Coincidentally, as yours truly is typing this entry, the cost per barrel just topped all time high at US$100 per barrel today. It is a symbolic level anyway, a long anticipated milestones in an era of rapidly escalating energy demands.
And speaking of which, it is just slightly below its historic (inflation-adjusted of course) high reached in April 1980 in the aftermath of the Iranian revolution, when oil prices jumped to the equivalent of $102 a barrel in today's money. Basically, we are not that fucked yet. Besides, we have had like 25 years of technological advancement; things are getting more efficient and greener… I hope.
Actually, as most know, the rise in oil prices in recent years has been driven by an unprecedented surge in demand from the United States, China and other Asian and Middle Eastern countries. Booming economies have led to more consumption of oil-derived products like gasoline, jet fuel and diesel. Also higher prices have been cast as vindication of a theory that the world has reached the maximum rate of oil production. Explorers have failed to discover major new fields to replace aging deposits being tapped. The bush administration is looking at the vast Alaskan wilderness as the next gold rush while Alberta, Canada has technically the highest deposit of oil sand, supposedly more oil than the current explore deposit, that is if they can economically convert the heavy oil to usable ones.
Looking back, when the SP price hike was made public recently, someone did point out that Singapore electricity is mainly natural gas powered. Of course, remember my “infallible civil service” theory? SP backed it up with tons of data and stats (I got lost when they say “Lim Pei Say Hike, U jolly well take a Hike…). Anyway, their reply has also concur with my other theory; Lim Pei don’t have to be right, as long as I can prove you are wrong, Lim Pei is right already. Forgive my dragginess, without which, it does not bring justices to the story.
Anyway, I did a little research on the natural gas energy market, yes, the prices have all but increased in recent years. The connection between oil and natural gas is not that difficult to understand (Unlike the official reply). In a nutshell, it goes like this
Natural Gas Inventories: Despite everything, gas capacity and storage is at all time high.
Weather effects: For obvious reason, if storage and production places kena hurricane or earthquake, supplies will be disrupted. So far not yet…
Improving production: After Hurricane Katrina & Rita, the global supply has somewhat increased due to recovery of the offshore production. Good news really, as the price technically should fall but…
Increasing demand: Global consumption has also comparatively increased. And I have not even counted China. Lucky for us, their electricity generation is still pretty much coal based.
High Oil price: Ah, now the clarity of their relationships as opposed to SP replies; Some cheebye power conglomerates have the flexibility to switch between oil and natural gas. So if oil increase, they change to gas, gas demand increased and hence gas price also increased.
But those are beside the point… Why a monopolistic company make money on the goodwill of its citizens? Not as if we are going anywhere or had a choice… Damn! Sometime, I hate my clarity, Official replies just don’t make sense after that … That’s why Ignorance is bliss.
Oh yes, I went to gym today, it was good. I went for a 5km run, it was good too. Ok folks, time to sleep… Better eat, drink and be Merry while times are good man… It will not last.
Windy Thursday (28 Degree Celsius)
Night@ 2340 (Singapore Time)
Listen: 勇敢 by 张惠妹
Mood: *Still Don’t have a Cow, man*
And when you think hikes are the byword of the yesteryears, Sing Power decides to join in the station wagon; Price hike cos Oil per barrel is increasing exponentially. Coincidentally, as yours truly is typing this entry, the cost per barrel just topped all time high at US$100 per barrel today. It is a symbolic level anyway, a long anticipated milestones in an era of rapidly escalating energy demands.
And speaking of which, it is just slightly below its historic (inflation-adjusted of course) high reached in April 1980 in the aftermath of the Iranian revolution, when oil prices jumped to the equivalent of $102 a barrel in today's money. Basically, we are not that fucked yet. Besides, we have had like 25 years of technological advancement; things are getting more efficient and greener… I hope.
Actually, as most know, the rise in oil prices in recent years has been driven by an unprecedented surge in demand from the United States, China and other Asian and Middle Eastern countries. Booming economies have led to more consumption of oil-derived products like gasoline, jet fuel and diesel. Also higher prices have been cast as vindication of a theory that the world has reached the maximum rate of oil production. Explorers have failed to discover major new fields to replace aging deposits being tapped. The bush administration is looking at the vast Alaskan wilderness as the next gold rush while Alberta, Canada has technically the highest deposit of oil sand, supposedly more oil than the current explore deposit, that is if they can economically convert the heavy oil to usable ones.
Looking back, when the SP price hike was made public recently, someone did point out that Singapore electricity is mainly natural gas powered. Of course, remember my “infallible civil service” theory? SP backed it up with tons of data and stats (I got lost when they say “Lim Pei Say Hike, U jolly well take a Hike…). Anyway, their reply has also concur with my other theory; Lim Pei don’t have to be right, as long as I can prove you are wrong, Lim Pei is right already. Forgive my dragginess, without which, it does not bring justices to the story.
Anyway, I did a little research on the natural gas energy market, yes, the prices have all but increased in recent years. The connection between oil and natural gas is not that difficult to understand (Unlike the official reply). In a nutshell, it goes like this
Natural Gas Inventories: Despite everything, gas capacity and storage is at all time high.
Weather effects: For obvious reason, if storage and production places kena hurricane or earthquake, supplies will be disrupted. So far not yet…
Improving production: After Hurricane Katrina & Rita, the global supply has somewhat increased due to recovery of the offshore production. Good news really, as the price technically should fall but…
Increasing demand: Global consumption has also comparatively increased. And I have not even counted China. Lucky for us, their electricity generation is still pretty much coal based.
High Oil price: Ah, now the clarity of their relationships as opposed to SP replies; Some cheebye power conglomerates have the flexibility to switch between oil and natural gas. So if oil increase, they change to gas, gas demand increased and hence gas price also increased.
But those are beside the point… Why a monopolistic company make money on the goodwill of its citizens? Not as if we are going anywhere or had a choice… Damn! Sometime, I hate my clarity, Official replies just don’t make sense after that … That’s why Ignorance is bliss.
Oh yes, I went to gym today, it was good. I went for a 5km run, it was good too. Ok folks, time to sleep… Better eat, drink and be Merry while times are good man… It will not last.
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