โMay-20-2008 09:25 PM
โJun-08-2008 11:24 AM
โJun-08-2008 07:43 AM
โJun-08-2008 07:18 AM
โJun-08-2008 05:20 AM
eltejano1 wrote:
I quit posting a while back 'cause the economics got over my head. But one thing is now clear to me - there are many factors causing the steep increases. While most posters tend to focus on one thing - speculators, oil co greed, etc -basically everyone is right, each with his/her favorite culprit.
It does seem to me, as I said early in the discussion, that we cannot drill our way out of this - all we would accomplish is buying a little more time. The Age of Petroleum is drawing to a close and we had better develop alternatives while there's still a little time left. Civilization itself could be at stake.
Everyone here seems to be in agreement that our rv'ing days are over. Even those who can afford the fuel will not do so because it will be socially unacceptable if not illegal. Govt is going to be deeply involved in pricing and allocation of fuel supplies - public support for regulation, even among economic traditionalists, is building. But it will be next year before congress will address it and I hope we can survive that long.
Finally, it's clear that there is only one really viable alternative, at least in the short run - nuclear power and plug-in cars. In the final anaylsis, that's our only realistic option.
Jack
โJun-08-2008 03:29 AM
โJun-07-2008 06:43 PM
onrecess wrote:Well said!!!!
Here's why:
"In June 2006, oil traded in futures markets at some $60 a barrel and the Senate investigation estimated that some $25 of that was due to pure financial speculation. One analyst estimated in August 2005 that US oil inventory levels suggested WTI crude prices should be around $25 a barrel, and not $60.
That would mean today that at least $50 to $60 or more of todayโs $115 a barrel price is due to pure hedge fund and financial institution speculation. However, given the unchanged equilibrium in global oil supply and demand over recent months amid the explosive rise in oil futures prices traded on Nymex and ICE exchanges in New York and London it is more likely that as much as 60% of the today oil price is pure speculation. "
Read financial sense: more:http://www.financialsense.com/editorials/engdahl/2008/0502.html
Screwed by deregulation and lack of regulation and nothing else. Don't be idiotic. We have been using the same amount of oil and blaming a giant and SUDDEN increase on traditional levels of demand is nothing BUT idiotic.
You're welcome.
โJun-07-2008 06:24 PM
โJun-07-2008 05:41 PM
โJun-07-2008 05:21 PM
โJun-07-2008 03:55 PM
There is no prohibition on developing shale oil". Just what exactly do you consider prohibition:There are still several pilot plants in operation but the moratorium will be lifted if oil hits 150 bucks a barrel and environmentalists will be the ones facing extinction.
1. a House of Representatives panel imposed the moratorium on new oil shale rules late last year; the new rules that were proposed, were to allow it.
2. A Senate committee, two weeks ago voted against extracting oil from shale in Colorado.
That may not be what you call prohibition, but it certainly sounds like a form of it to me.
โJun-07-2008 12:26 PM
sirdrakejr wrote:
I still have not found anyone who can explain to me how the future oil price for July is applied to gasoline already in the ground at the stations and yet they RAISE THE PRICE based on what they are going to get two months from now.
Frank
โJun-07-2008 11:03 AM
SRT wrote:
A thought occurred to me early this morning about the run up in oil prices. Maybe the jihadists have figured out another way to destroy the devil United States, ya think....:B
โJun-07-2008 09:19 AM
โJun-07-2008 05:52 AM
โJun-07-2008 05:49 AM
sirdrakejr wrote:
I still have not found anyone who can explain to me how the future oil price for July is applied to gasoline already in the ground at the stations and yet they RAISE THE PRICE based on what they are going to get two months from now.
Frank