Oil industry sinkhole threatens to swallow city

a reply to: bbracken677

Salt is all around us. Underground and on the earth’s surface in the dried up residues of ancient seas. Some salt has even arrived from outer space in meteors. But our biggest source of salt is in our seas and oceans. With an average of 26 million tonnes per cubic kilometre, sea water offers a seemingly inexhaustible supply which if extracted, would cover the world’s total land mass to a depth of 35 metres.

Where does Salt come from?

a reply to: TheLieWeLive
A little less cherry picking and a little more reading of your source would help.

ETA: Something like this also

Most common table salts and salts used for industrial purposes are obtained through mining, while specialty or gourmet salts are still produced via evaporation of sea water.

foodreference.about.com...

originally posted by: bbracken677
a reply to: rickymouse


Lol

That is not how it works... Not at all.

I am having an insurance commercial flashback !!!!

Well, according to the head of a Texas refinery on the news one day, that is the way it works. The news was showing how the price of oil fluxuates so abruptly. The corporation sells the oil paper to the speculators at a set price and buys it back for the refineries at a higher price. The execs, and a select bunch of people participate in this speculation. This information can be verified by googling it. www.huffingtonpost.com... Just one source.

a reply to: rickymouse

By your definition, the company selling low and buying high is losing money by the bucket loads. What company would agree to that? What board of directors would allow that? What group of stock holders would agree to that?

That. Is. Not. How. It. Works.

a reply to: bbracken677

Speculators do not lose money. The price does not drop for a while after the future is bought, they may buy oil at 75 bucks a barrel consistently and sell it to the refineries between 82 and one ten regularly. Prices at the pump are relative to the cost at the end of the future contract. It isn't even gambling, everyone big makes money in this on Wallstreet. Now if you are a regular investor, you get paid on points of margin fluctuation, there is possible risk to that. The big boys hardly ever lose at all. Most investors get into the second part of this, not into the upper realms.

It is like holding common stock vs preferred stock in a corporation. If the company has no real assets to sell if they go bankrupt, preferred stock is a better option and insurance can take care of liability issues.

The top one percent don't lose money, they control this. The owners of a casino don't lose money, they always win.

Oil companies don't drill wells anymore.

Everything is contracted out.

A drilling contractor drills the hole and casing contractor cases the hole.

it was formed over three decades as oil field service companies pumped fresh water into a salt layer.

These oil field service companies were just suppliers and unregulated by the government agencies that regulate oil drilling.

originally posted by: bbracken677
a reply to: olaru12

If you define obscene by a 7 or 8% profit margin then yeah.

Or...we could just gut them, tax them to death and then pay 6, 7 or 8 bucks a gallon at the pump, no sweat!

Europeans pay more than that, Visit the UK and see how far a Buck goes at the pumps. (about a pint)

a reply to: TheLieWeLive

from your link:

Salt Production
As with so many other things, China is the largest salt producer in the world followed closely by the United States. Salt is generally produced one of three ways: deep-shaft mining, solution mining or solar evaporation.

Deep-Shaft Mining

Deep-shaft mining is much like mining for any other mineral. Typically, the salt exists as deposits in ancient underground sea beds. Most salt produced this way is used as rock salt.

Solution Mining

In solution mining, wells are erected over salt beds and fresh water is injected to dissolve the salt. Then the salt solution, or brine, is pumped out and taken to a plant for evaporation. Most common table salt are produced this way.

Solar Evaporation

Salt is harvested through solar evaporation from seawater or salt lakes. Wind and the sun evaporate the water from shallow pools, leaving the salt behind. It is usually harvested once a year when the salt reaches a specific thickness. This only works in areas with low rainfall and a lot of sun - Mediterranean countries and Australia for example.


Most salt is mined or or "solution mined" not directly extracted from sea water.

Sea salt is becoming for and more prevalent due to fad and gourmet uses, but most table salt is still mined.

a reply to: rickymouse
I have traded in the market before, so I am not some doof blowing out steam. I will put the process together and post it as it really works, not as presented. With links... And not to huffnpuff either. I day traded for over a year after I retired and dabbled in commodities a bit. The average person would be very surprised to see how stock trades actually work (the whole process including behind the scenes). Commodities are a bit of a different animal.

Probably won't happen tonight (it's Friday) but by Sunday anyway.