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  1. #1
    Join Date
    Jan. 4, 2010
    Posts
    159

    Default So...gas prices are going to go down now, right?

    Pretty please?
    "Using draw reins without spurs is like going to the bar with no underwear on. You're just waiting to get f***ed."



  2. #2
    Join Date
    Jan. 4, 2010
    Posts
    159

    Default

    Btw...the above is sarcasm.
    "Using draw reins without spurs is like going to the bar with no underwear on. You're just waiting to get f***ed."



  3. #3
    Join Date
    Jul. 11, 2004
    Posts
    7,023

    Default

    Remember, the Bama' said he wanted the prices to go through the roof...just slowly. He's fulfilling his campaign pledge.

    Think of Shell oil spending $4B in Alaska only to be told by the eco-facist at EPA, "your icebreaker makes exhaust and there's 240 Indians 70 miles from your drilling area, no drilling for you". That sure helped the country's energy needs be filled.
    "Sic Gorgiamus Allos Subjectatos Nunc"



  4. #4
    Join Date
    Dec. 4, 2006
    Location
    New York
    Posts
    1,512

    Default

    Quote Originally Posted by holaamigoalter View Post
    Pretty please?
    With the situation in Libya still unstable, probably not. Also, the increase in oil prices is not just driven by world events, but also by speculation (people who make money by trading commodity futures).

    http://money.howstuffworks.com/oil-s...-gas-price.htm

    http://www.thenation.com/article/159...il-speculation

    http://www.stopoilspeculationnow.com/Pages/news.aspx



  5. #5
    Join Date
    Feb. 14, 2003
    Location
    Windward Farm, Washougal, WA- our work in progress, our money pit, our home!
    Posts
    7,712

    Default

    Well, if the commodities traders want them to, then yes, the prices will fall. Oil speculation is driving the price of oil, period. Ok, some of it is due to supply concerns in the Middle East...oh, wait, America gets nearly 80% of its oil from Canada, Mexico and US sources....
    Proud member of the "Don't rush to kill wildlife" clique!



  6. #6
    Join Date
    Jul. 25, 2003
    Location
    Boston Area
    Posts
    8,773

    Default

    Not just speculation. It is much more difficult to extract crude in Canada (where the oil is in shale and resembles asphalt) than in the Middle East where it flows out of the ground!

    If it costs $4/barrel to extract in the Middle East it costs $70 to extract the same amount in Canada. Plus you have to extract at high temperatures so you have all of the energy costs associated with that.

    There is no real oil shortage, just a shortage of easily available crude.


    Quote Originally Posted by Calvincrowe View Post
    Well, if the commodities traders want them to, then yes, the prices will fall. Oil speculation is driving the price of oil, period. Ok, some of it is due to supply concerns in the Middle East...oh, wait, America gets nearly 80% of its oil from Canada, Mexico and US sources....
    Equine Ink - My soapbox for equestrian writings & reviews.
    EquestrianHow2 - Operating instructions for your horse.



  7. #7
    Join Date
    Nov. 4, 2003
    Location
    Sanger, TX, USA
    Posts
    5,214

    Default

    $2 billion of that was paid to the government for the lease...Shell invested
    another $2 billion in exploration costs and got the rug pulled out. Uncle Sam is
    complaining oil companies not using their leases....duh, they can't get the permits from the government.

    Now there is supposedly an endangered sub-species desert lizard that ranges over 7 states including West Texas and New Mexico that may shut down present drilling there in those two states. It seems everywhere you turn, the government is attempting to shut down future and even present drilling and mining. The government is also blocking the pipe line to get the Canadian oil
    to us. And I believe also the pipeline from Alaska for natural gas.

    The government could increase the margin % on commodities which would slow the speculation down some. But demand is up in other parts of the world where their economies are actually recovering. Only one permit that was in the works before the Gulf oil spill has been approved. Yet we gave Brazil a permit for an exploratory well and floating storage container, not to mention
    several billion each in loans to Mexico and Brazil.

    The dollars decline is contributing to the cost of oil--the dollar is at a 3-year low and oil is traded worldwide in our dollars. That quantitive easing has caused commodity prices to rise round the world, not just here. The increases are pretty heart stopping.

    There also hasn't been a new refinery built for 30 years in the US. The majority of subsidy money seems to go for ethanol and green energy which
    only supply 1-2% of our energy needs.

    In 2008, President Bush reversed an EO on drilling bans and prices plunged
    within a week or two. However, the new administration has stopped most
    drilling where it can. Even if the government said drill, baby, drill tomorrow, don't think we'd see the same price decreases because of the dollar's decline, our deficiets destablizing our country's credit rating, etc and so forth.



  8. #8
    Join Date
    Sep. 13, 2006
    Location
    At the back of the line
    Posts
    4,016

    Default Opinion on speculators

    NEW YORK (CNNMoney) -- High oil prices are here to stay and they're caused by surging demand and limited new supply, not Wall Street speculators.

    That's the message from Fatih Birol, chief economist at the International Energy Agency.

    "Speculators are only responding to what is going on in the markets," Birol said during an interview with CNNMoney in New York. "We don't see enough oil in the markets. The major driver is supply and demand."


    Lots of people in the same bed me thinks!!!
    “Management is doing things right; leadership is doing the right things.” Peter Drucker



  9. #9
    Join Date
    Sep. 1, 2006
    Posts
    2,284

    Default

    Quote Originally Posted by Trakehner View Post
    Remember, the Bama' said he wanted the prices to go through the roof...just slowly. He's fulfilling his campaign pledge.
    I'd ask you to cite your source, but you don't believe in facts.



  10. #10
    Join Date
    Mar. 22, 2000
    Location
    America, The Beautiful!
    Posts
    2,991

    Default

    US Has Largest Energy Reserves Worldwide

    Drill here, drill now, become energy independent from the ME and SA and let them all blow each other up. We got enough to EXPORT fuel and reduce our trade deficit and start the process to turn this country around.

    Get the eco-terrorists out of our energy policy. We are many times over cleaner than the emerging nations in the eastern and southern hemispheres. Those countries are causing more environmental damage than we think.

    And while we enjoy this energy freedom from terrorists and America-haters, let's get some American ingenuity on finding VIABLE non fossil fuel to power us in the future. As a matter of fact, we DO HAVE VIABLE NON FOSSIL FUEL SOURCE, it's call NUCLEAR POWER. Oh wait. The feds won't grant permits for those either.

    LOL, seems to me the feds are America's biggest enemy.



  11. #11
    Join Date
    Mar. 22, 2000
    Location
    America, The Beautiful!
    Posts
    2,991

    Default

    Quote Originally Posted by Calvincrowe View Post
    Well, if the commodities traders want them to, then yes, the prices will fall. Oil speculation is driving the price of oil, period. Ok, some of it is due to supply concerns in the Middle East...oh, wait, America gets nearly 80% of its oil from Canada, Mexico and US sources....
    I'll ask... where do you get your 'facts'?

    EIA.DOE.GOV

    31% of our oil supply, not imports, comes from OPEC nations AFTER you remove Venzuela and Ecuador from the OPEC totals. My math says that leaves 69% from non OPEC countries. With the 2 exceptions above, OPEC countries are all Middle East.

    Canada and Mexico supply 37% combined. Individually, they supply more than any other country. Mexico's main source of oil is off the Yucatan Penn. Canada's source is one of the most expensive to extract, and lies in environmentally sensitive areas. But it's okay to damage waterfowl lands in Canada as long as the US maintains pristine coasts. Right?



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