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Adam Montana Weekly 29 March 2019

Adam Montana

By Adam Montana,
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Floridian Experienced

Floridian

Posted
Posted

Thanks for the above information, RobLe.  I had met a girl who worked in the oil business awhile back.  She said that Iraq has Light, Sweet, Crude Oil (although I don't know what that means).

 

I looked it up and this is what Wikipedia says:

 

Sweet crude oil is a type of petroleum. The New York Mercantile Exchange designates petroleum with less than 0.5% sulfur as sweet.[1][2]

Petroleum containing higher levels of sulfur is called sour crude oil.

Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations. Light sweet crude oil is the most sought-after version of crude oil as it contains a disproportionately large fraction that is directly processed (fractionation) into gasoline (naphtha), kerosene, and high-quality diesel (gas oil). The term sweetoriginates from the fact that a low level of sulfur provides the oil with a mildly sweet taste and pleasant smell. Nineteenth-century prospectors would taste and smell small quantities of oil to determine its quality.[3]

 

Producers of sweet crude oil include:

Why is light crude oil more expensive?
Light Crude oil is liquid petroleum that has low density and that flows freely at room temperature. ... Light crude oil receives a higher price than heavy crude oil on commodity markets because it produces a higher percentage of gasoline and diesel fuel when converted into products by an oil refinery.

 

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Adam Montana
Adam Montana

Good afternoon all!   We're currently in the midst of some significant happenings right now. It's almost coming too fast to keep on top of things, so let's just recap the current situation.

Adam Montana
Adam Montana

Appreciate the post, but quite frankly - you're nitpicking.   You are correct, WTI is a not specifically Iraqi oil, but WTI is "a" price of oil and is commonly used as a benchmark.   

DinarThug
DinarThug

U Guys Better Watch Out For The Mods - There’s A Lot Of ‘Crude’ Talk Going On Here !          

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Adam Montana Proficient

Adam Montana

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Posted
36 minutes ago, RobLe said:

Adam, I think you might be not understanding the price of oil. There are many different types of oil around the world.

 

Appreciate the post, but quite frankly - you're nitpicking.

 

You are correct, WTI is a not specifically Iraqi oil, but WTI is "a" price of oil and is commonly used as a benchmark. 

 

bench·mark
/ˈben(t)SHmärk/
noun
  1. 1.
    a standard or point of reference against which things may be compared or assessed.
    "a benchmark case"
    synonyms: standard, point of reference, basis, gauge, criterion, specification, canon, convention, guide, guideline, guiding principle, norm, touchstone, yardstick, test, litmus test, barometer, indicator, measure, model, exemplar, classic example, pattern, paradigm, archetype, prototype, ideal
    "the settlement was used as a benchmark in all further negotiations"
 
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Synopsis Grand Master

Synopsis

Posted
Posted
1 hour ago, RobLe said:

Adam, I think you might be not understanding the price of oil. There are many different types of oil around the world. Some oils are much cleaner and lighter to use and take less work to turn into fuel. 

 

The $60 mark for the price of a barrel of oil that you are quoting is WTI Crude. This stands for West Texas. 

 

You will see when you look up the prices of oil that they usually speak of WTI and Brent Crude. Brent Crude is worth currently $68.39 per barrel of oil. 

 

Iraq's oil isn't quite as valuable as Brent (which stands for oil extracted from the North Sea) but it's value is somewhere in between WTI and Brent. In other words, Iraq's oil has been higher than $60 for quit some time. 

 

Just thought I would pass that info along. 

 

BINGO!!!, RobLe, AND The Very Best Of Your Weekend To You!!! :tiphat:

 

There was SOME Bicraqi Iraqi Crude sold on the Dubai Mercantile Exchange. Check THIS out:

 

image.thumb.png.fb3f9c41ed05e3954e755d6680bda2a4.png

 

AND................................................................................

 

image.thumb.png.f70a478ac89e70a3fdbf348dbc9cd1b9.png

 

AND................................................................................

 

image.thumb.png.6c542890f36be6f7917cde1d7377c1dd.png

 

https://www.dubaimerc.com/

 

The top screen shot ticker shows "LATEST SOMO CRUDE AUCTIONS FETCH PREMIUMS OF +$0.11 AND $0.18 ABOVE OSP". OSP is Official Selling Price.

 

The middle screen shot ticker shows "NOVEMBER BASRA LIGHT CARGO SOLD AT OSP +$0.20."

 

The bottom screen shot ticker shows "OQD Marker Price March 29, 2019 is 67.42 (I assume $/barrel)". OQD is Oman Crude Oil Futures Contract.

 

SO..................................................................

 

Winner, Winner, Chicken Dinner!!! YEAH!!!

 

Depends on WHICH exchange the crude is valued on whereas the Bicraqi Iraqi Dinar PEGGED to the USD in a "closed" "economy" MAY HAVE a significant bearing on HOW Bicraqi Iraqi Crude is valued like, say, to WTI Dude Oil AT nominally $60/barrel TODAY.

 

Go Moola Nova!

:pirateship:

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Synopsis Grand Master

Synopsis

Posted
Posted
35 minutes ago, Adam Montana said:

 

Appreciate the post, but quite frankly - you're nitpicking.

 

You are correct, WTI is a not specifically Iraqi oil, but WTI is "a" price of oil and is commonly used as a benchmark. 

 

bench·mark
/ˈben(t)SHmärk/
noun
 
  1. 1.
    a standard or point of reference against which things may be compared or assessed.
    "a benchmark case"
    synonyms: standard, point of reference, basis, gauge, criterion, specification, canon, convention, guide, guideline, guiding principle, norm, touchstone, yardstick, test, litmus test, barometer, indicator, measure, model, exemplar, classic example, pattern, paradigm, archetype, prototype, ideal
    "the settlement was used as a benchmark in all further negotiations"
 

 

:twothumbs: WTI Is A Texas Crude Used For Nominal Pricing, Adam, AND ALL The Best!!! :tiphat:

 

Hey, if You like, I could do some more 'splainin' in the preferred NON Mojoto Fueled Equivalent (dry and boring) version OR Uber Required (refreshing AND exciting) version on refinery design, refinery linear programming models, refinery margins, crude oil futures, AND the LIKE to further demonstrate EACH pricing mechanism (WTI, Brent, DME, whatever) is FLAWED pertaining to ANY given refinery IN THE WHOLE WIDE WHIRLED!!!

 

:lmao:   :lmao:   :lmao:

 

In The Mean Time..............................................................................................

 

Please, OH, PLEASE, Adam, SEND US the "Fabled" "RV" "Text"......................

 

AND (of course)................................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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pokerplayer Grand Master

pokerplayer

Posted
Posted
3 minutes ago, NevadaSam said:

Thanks Adam, wonderful news

 

Come on RV....I will admit, I am a little greedy, after waiting this long, I would love to cash in, I really don't want to pass this on to the Grands, I want to enjoy it some. 

 

Gooooo RV

 

We all do NevadaSam, we all do.

 

  Cheers, pp

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Bernard1 Newbie

Bernard1

Posted
Posted
6 hours ago, Adam Montana said:

 

Appreciate the post, but quite frankly - you're nitpicking.

 

You are correct, WTI is a not specifically Iraqi oil, but WTI is "a" price of oil and is commonly used as a benchmark. 

 

bench·mark
/ˈben(t)SHmärk/
noun
 
  1. 1.
    a standard or point of reference against which things may be compared or assessed.
    "a benchmark case"
    synonyms: standard, point of reference, basis, gauge, criterion, specification, canon, convention, guide, guideline, guiding principle, norm, touchstone, yardstick, test, litmus test, barometer, indicator, measure, model, exemplar, classic example, pattern, paradigm, archetype, prototype, ideal
    "the settlement was used as a benchmark in all further negotiations"
 

Excellent response Adam 👏👏

Thanks for the update here's hoping 🍾💰

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presence Apprentice

presence

Posted
Posted

Thanks very much Adam,- for the last couple of uplifting weekly updates,- and for your continuous effort over the years to keep us informed , grounded, and prepared for what's to come!

 

Iraq's momentum toward a capitalist society from that of a dictatorship certainly appears to have accelerated over the past couple of years; and I don't believe that the recently expressed concern regarding Iraq's influence on Iran's sanctions is going to impede the rate of progress. Delarue machines will identify counterfeit currency and minimize attempted fraud, and forensic accountants and international auditors will eventually get the chance to bring justice to the thieves (at least the major ones)  who posed under the guise of legitimate Iraqi officials...

 

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TexasGranny Mentor

TexasGranny

Posted
Posted
11 hours ago, dinarRama11 said:

ok , hello adam can you tell me why you have the recurring billing instead of going month by month giving us the the people options? there is many options out there for merchant service. so I definetly kow you cant point finger on the provider. I like what you are doing information wise but now after all these years it now feel to me like you are a motivational speaker and getting that extra revenue I am just being blant.

I follow you for a long time but now things seem to form just like the others systematically...mmmmm 

after the last billing I would like to get off the next billing so contact me how to remove myself, thanks. this is for adam so no need  for the extras to flaunt them selves trying to answer this darn question

 

Please click on the support tab at the top of this page and submit a ticket. Adam will then see your message and respond.

 

:cowboy2:

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