Oil prices

[Alloy Dave]

http://www.nytimes.com/2008/09/11/bu...ess/11oil.html

What happened to the oil price hysteria that was going on 3-6 months ago?

What about a few years ago when the Alaska pipeline had a leak?

How about the hurricane's in the gulf that were supposed to cripple us and take fuel prices to double today's value?

All these people saying oil was going to $5.00 a gallon and even higher?

Let me state clearly that I cannot predict oil prices. But sometimes I roll my eyes at those who think they can. If anyone can accurately predict gasoline or oil prices, I'll pay you $1M a year and I'll keep the rest...because we both can be very rich, very fast.

Oil still may go up. Or, it may go down. Nobody knows. I still think it's a good idea to get of foreign oil, the recent drop should not weaken our resolve to do that. But let's avoid the "oil prices are going to be $xx soon" discussions....we're rarely correct.

Off my soapbox.

Dave

[Boston Mike]

Originally Posted by Alloy Dave

http://www.nytimes.com/2008/09/11/bu...ess/11oil.html

What happened to the oil price hysteria that was going on 3-6 months ago?

What about a few years ago when the Alaska pipeline had a leak?

How about the hurricane's in the gulf that were supposed to cripple us and take fuel prices to double today's value?

All these people saying oil was going to $5.00 a gallon and even higher?

Let me state clearly that I cannot predict oil prices. But sometimes I roll my eyes at those who think they can. If anyone can accurately predict gasoline or oil prices, I'll pay you $1M a year and I'll keep the rest...because we both can be very rich, very fast.

Oil still may go up. Or, it may go down. Nobody knows. I still think it's a good idea to get of foreign oil, the recent drop should not weaken our resolve to do that. But let's avoid the "oil prices are going to be $xx soon" discussions....we're rarely correct.

Off my soapbox.

Dave

Amen, sir. And isn't it funny that now, after so much posturing that it was supply and demand driving it that there is hard proof that inflows of capital (>$60billion) from speculators over the past 8 months is what drove the price up. What makes it hard is that there are a lot of trend following investment accounts that had to buy while it was going up.........pushing it up higher. Strong dollar leads to cheaper oil. It was going to happen. Now to get back to putting more $$ into American's hands!!!

[frydguy79]

i just knew it would finally come out that the AMERICAN PUBLIC was getting f**k**G hosed

[The Bone]

Opec is going to cut production because we aren't driving as much therefore not using as much oil.
We will be stuck with this until we drill more in the us and not sell on the open market.
If they sell on open market than the gas will never go down. What would you sell you're barrel of oil for $100 or $50.
Oil company's dont want to drill where they already have lessees to drill because they think that there isn't enough oil there to make a profit.
It would be good only if the oil could only be sold in the US and they had to pump what ever the demand was to keep the price reasonable what ever that was.
Who is going to tell the oil company's that ?
Even if we develop alternative fuel sources and cut demand for oil opec will just drop production to keep prices high we will always need gas for our cars. There is no way that we can tell everyone to junk there car and buy a electric or hydrogen car without a revolt.
I have no good solution for this except the government is going to have to step in and set the price and the oil company's are going to have to live with it ot let the government start selling oil.
Art

[Carnut]

Did you catch the new about Saudi Arabia walking out on Opec yesterday,

The Saudi's told Chavez and the Iranians that they were out of line trying to cut production. THe Saudi's went on to say they would produce enough to make up for any shortages.

According to some sources, this could signal an end to OPEC. I think that would be a good thing.:Bigguy:

[The Bone]

That would be good for the world. It would be more competitive in the oil markets.
That would for sure drive down the price of oil.
Art

[Alloy Dave]

Originally Posted by Carnut

Did you catch the new about Saudi Arabia walking out on Opec yesterday,

The Saudi's told Chavez and the Iranians that they were out of line trying to cut production. THe Saudi's went on to say they would produce enough to make up for any shortages.

According to some sources, this could signal an end to OPEC. I think that would be a good thing.:Bigguy:

Superficially it would be a good thing, but I wonder about the socio-political ramifications of all those less-than-civilized countries competing. Could bring violence and instability. I agree OPEC is not a good group, but whether they can work in a friendly fashion through a free market is yet to be seen.

[black vert ss]

Originally Posted by Alloy Dave

Superficially it would be a good thing, but I wonder about the socio-political ramifications of all those less-than-civilized countries competing. Could bring violence and instability. I agree OPEC is not a good group, but whether they can work in a friendly fashion through a free market is yet to be seen.

When you literally have the world over a barrel you don't have to be nice

[Mr. White]

We were over a barrel for sure. Once our illustrious Govt. officials decided to review drilling here, we caused a few cases of heartburn. Hopefully, we do not let up and begin drilling here. Enough is enough already.

[TOMMY GUN]

.

[Johnny Dangerously]

Drill here. Drill NOW!


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[TOMMY GUN]

Exactly

[TOMMY GUN]

Originally Posted by Johnny Dangerously

Drill here. Drill NOW!


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The Truth About ANWR Drilling » The Foundry



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[Carnut]

I think the Family should be taking over here.

[Joe G]

Originally Posted by Carnut

I think the Family should be taking over here.

Ok, I appoint you to be the local liaison.

Prepare to move there next week in time for the winter shift.

:Bigguy:

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[Carnut]

I am like.....um...........in charge of stuff.

I don't do the grunt work.

I don't travel.

I assign people to do those things.:Triniti:

[Joe G]

Management!


:bangin:

[68fastback]

Originally Posted by Carnut

I am like.....um...........in charge of stuff.

I don't do the grunt work.

I don't travel.

I assign people to do those things.:Triniti:

But you have fur! You're the only one who can survive. It's why the nudist colony always has at least one really hairgy guy -- someone has to go out for the coffee! :Bigguy:

[black vert ss]

Ok, so oilis now $94.00 a barrell. Does any one remember what the price at the pump was when it was that low? Why aren't the prices back there now?

[Johnny Dangerously]

Originally Posted by black vert ss

Ok, so oilis now $94.00 a barrell. Does any one remember what the price at the pump was when it was that low? Why aren't the prices back there now?

The refineries in Texas aren't back up & running yet. Of course, this wouldn't be a problem if we had been able to build some new refineries in the past 25 years.

Back to my Excel spreadsheets.


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