Originally posted by: Vic
The nice thing about these threads is that they provide excellent documentation of how often Chicken Little Dave is wrong. After all, wasn't oil headed to $300 just a month ago?
Has to hit $90 and $100 before heading to $300.
I didn't write the article. Goldman Sacs did.
Vic
Elite Member
- Jun 12, 2001
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Originally posted by: dmcowen674
Originally posted by: Vic
The nice thing about these threads is that they provide excellent documentation of how often Chicken Little Dave is wrong. After all, wasn't oil headed to $300 just a month ago?
Has to hit $90 and $100 before heading to $300.
I didn't write the article. Goldman Sacs did.
And they're probably heavily invested in oil futures. Get a clue, man.
Originally posted by: Vic
Originally posted by: dmcowen674
Originally posted by: Vic
The nice thing about these threads is that they provide excellent documentation of how often Chicken Little Dave is wrong. After all, wasn't oil headed to $300 just a month ago?
Has to hit $90 and $100 before heading to $300.
I didn't write the article. Goldman Sacs did.
And they're probably heavily invested in oil futures. Get a clue, man.
Thanks for admitting to your fellow Oil Baron's corruption.
Vic
Elite Member
- Jun 12, 2001
- 50,422
- 14,337
- 136
Originally posted by: dmcowen674
Originally posted by: Vic
Originally posted by: dmcowen674
Originally posted by: Vic
The nice thing about these threads is that they provide excellent documentation of how often Chicken Little Dave is wrong. After all, wasn't oil headed to $300 just a month ago?
Has to hit $90 and $100 before heading to $300.
I didn't write the article. Goldman Sacs did.
And they're probably heavily invested in oil futures. Get a clue, man.
Thanks for admitting to your fellow Oil Baron's corruption.
Since when did I become an "oil baron"?
t:roll:
I was explaining to you the lack of objectivity in the media. They print, without questioning, information from biased sources. Hypothetical example: Goldman Sachs buys up a bunch of oil futures, and then pumps it up with a press release to the media that gets printed verbatim.
Get. a. clue.
Whoozyerdaddy
Lifer
- Jun 27, 2005
- 19,216
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Bodman is 100% correct. But have no fear... The Dems in the senate will filibuster as usual. The anti-development crowd will get some good, exasperated quotes from Ted Stevens and who knows... We might even get another ANWR thread fired up here.
But in the end we'll be right back where we started.
CaptnKirk
Lifer
- Jul 25, 2002
- 10,053
- 0
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Heading towards a 70% dependency on foreign oil?
These people talk out the backside of their ass.
I dont even think the republicans are all that serious about this huge issue. They didnt bother passing a bill last week that would allow for gas exploration and drilling on the outer contienental shelf.
6-1-2006 Chavez: "U.S. moved to invade Iraq and continues to threaten Iran and Venezuela."
"We had price bands for almost three years but that went down in history," he said, referring to the former price range of $22-$28 a barrel that OPEC targeted several years ago. "If we talked about a band nowadays, the lower level would be $50 and the ceiling would be infinity."
The Venezuelan president has long championed the idea of keeping oil prices high within OPEC. For the last two meetings Venezuela has called on member countries to cut production, but other countries have been unwilling.
"We had price bands for almost three years but that went down in history," he said, referring to the former price range of $22-$28 a barrel that OPEC targeted several years ago. "If we talked about a band nowadays, the lower level would be $50 and the ceiling would be infinity."
The Venezuelan president has long championed the idea of keeping oil prices high within OPEC. For the last two meetings Venezuela has called on member countries to cut production, but other countries have been unwilling.
Surest way to get the U.S. to invade you ass, cut off the oil.
6-4-2006 Iran's leader warns of disruption in oil
TEHRAN, Iran - Iran's top leader, Ayatollah Ali Khamenei, warned Sunday that oil shipments from the Gulf region would be disrupted if the United States attacked his nation.
Khamenei also insisted in a speech broadcast live on state-run radio that Tehran will not give up its right to produce nuclear fuel.
He added that if there was a disruption, the United States and its allies could not secure all the oil shipments that transit close to Iran's coast. Much of the world's oil supply passes through the strategic Strait of Hormuz, which links the Gulf to the Indian Ocean and separates Iran from the Arabian Peninsula.
"You will never be able to protect energy supply in this region. You will not be able to do it," he said, addressing the West.
Iran is the world's fourth-largest oil exporter and second-biggest power within the Organization of Petroleum Exporting Countries.
"Unlike the U.S., we have no claim to dominate the world," he added.
==============================================
Wow, check out all these phoney excuses
Oil climbs $1 over $73 on Iran worries
SINGAPORE - Oil prices climbed over a dollar to above $73 on Monday after Iran hinted it might use oil production as a weapon in its nuclear dispute with the West and hitches at U.S. refineries spurred worries over fuel supplies.
Tension between Iran and the West over Tehran's nuclear program have helped drive oil's 20 percent rally this year.
Oil prices were also boosted by production problems at U.S. refineries during the start of peak summer fuel demand.
Three south Texas plants were restoring production on Sunday and receiving tankers into Corpus Christi harbor as it reopened following an oil spill, after urgent repairs and severe thunderstorms hurt production at five U.S. plants.
6-4-2006 Iran's leader warns of disruption in oil
TEHRAN, Iran - Iran's top leader, Ayatollah Ali Khamenei, warned Sunday that oil shipments from the Gulf region would be disrupted if the United States attacked his nation.
Khamenei also insisted in a speech broadcast live on state-run radio that Tehran will not give up its right to produce nuclear fuel.
He added that if there was a disruption, the United States and its allies could not secure all the oil shipments that transit close to Iran's coast. Much of the world's oil supply passes through the strategic Strait of Hormuz, which links the Gulf to the Indian Ocean and separates Iran from the Arabian Peninsula.
"You will never be able to protect energy supply in this region. You will not be able to do it," he said, addressing the West.
Iran is the world's fourth-largest oil exporter and second-biggest power within the Organization of Petroleum Exporting Countries.
"Unlike the U.S., we have no claim to dominate the world," he added.
==============================================
Wow, check out all these phoney excuses
Oil climbs $1 over $73 on Iran worries
SINGAPORE - Oil prices climbed over a dollar to above $73 on Monday after Iran hinted it might use oil production as a weapon in its nuclear dispute with the West and hitches at U.S. refineries spurred worries over fuel supplies.
Tension between Iran and the West over Tehran's nuclear program have helped drive oil's 20 percent rally this year.
Oil prices were also boosted by production problems at U.S. refineries during the start of peak summer fuel demand.
Three south Texas plants were restoring production on Sunday and receiving tankers into Corpus Christi harbor as it reopened following an oil spill, after urgent repairs and severe thunderstorms hurt production at five U.S. plants.
Just the way Bush, Cheney and resident Republicans like it.
6-7-2006 Oil & Gas Inventories 4% higher than last year yet 100% higher in cost
WASHINGTON - Oil prices fell by almost $2 a barrel on Wednesday after U.S. government data showed rising domestic inventories of crude-oil and gasoline.
In its weekly petroleum report, the Energy Department said U.S. crude-oil stocks grew last week by 1.1 million barrels to 346.6 million barrels, or 4 percent above year ago levels. Gasoline inventories grew by 1 million barrels to 210.3 million barrels, or 2.5 percent below year ago levels. The commercial supply of distillates, which include heating oil and diesel, increased by 1.8 million barrels to 120.7 million barrels, or 8.5 percent more than a year ago.
6-7-2006 Oil & Gas Inventories 4% higher than last year yet 100% higher in cost
WASHINGTON - Oil prices fell by almost $2 a barrel on Wednesday after U.S. government data showed rising domestic inventories of crude-oil and gasoline.
In its weekly petroleum report, the Energy Department said U.S. crude-oil stocks grew last week by 1.1 million barrels to 346.6 million barrels, or 4 percent above year ago levels. Gasoline inventories grew by 1 million barrels to 210.3 million barrels, or 2.5 percent below year ago levels. The commercial supply of distillates, which include heating oil and diesel, increased by 1.8 million barrels to 120.7 million barrels, or 8.5 percent more than a year ago.
- Oct 30, 2000
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Hmmmmm, let's see.
I filled my Van for $20 now $40.
With today's 24 cent jump to $3.19 it will be closer to $50.
- Oct 30, 2000
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Funny
I was getting gas in May-2004 at $1.89/gallon according to my receipts
At the last fill up, it was $2.69.
That is about 50% increase over 2 years.
I was getting gas in May-2004 at $1.89/gallon according to my receipts
At the last fill up, it was $2.69.
That is about 50% increase over 2 years.
Well what is too high of an increase to you?
You have refused to answer the question.
What should Gas be based on $70 a barrel?
- Oct 30, 2000
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I am not going to try and determine valid increases.
My comment was about the 100% numbers that you were throwing around.
The oil system has created much profit taking based on fear mongering.
The best one can do is to reduce the consumption as much as possible.
The world markets have allowed such speculations to influence costs; that is the biggest killer.
Fuel costs jumped when they had the article on the Nigerian gas line break.
The increase lasted at the pump for 3-4 days until it was realized that it was not even worthy of the hiccup.
Panic / Fear / Scare tactics are an effective tool when there is no accountablilty to the consequences.
My comment was about the 100% numbers that you were throwing around.
The oil system has created much profit taking based on fear mongering.
The best one can do is to reduce the consumption as much as possible.
The world markets have allowed such speculations to influence costs; that is the biggest killer.
Fuel costs jumped when they had the article on the Nigerian gas line break.
The increase lasted at the pump for 3-4 days until it was realized that it was not even worthy of the hiccup.
Panic / Fear / Scare tactics are an effective tool when there is no accountablilty to the consequences.
- Oct 30, 2000
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Exactly, thank you.Originally posted by: EagleKeeper
Originally posted by: dmcowen674
Then why defend the Oil Thugs???
It is the complete system that drives the prices; From the pumpers to the drivers.
A current example on how the markets are driven by the media and fear
Link
It is a corrupt system with blessings from the top.
That should not be the case with a Democracy and supposed Free Market system.
- Oct 30, 2000
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Free Market system operates on the principle that there are alternatives that can be used to compensate for unacceptable conditions imposed by a supplier of a commodity.
At present the consumer has few options and even fewer that are acceptable.
Part has been due to the consumer's attitude. They have chosen to reject costly alternatives when they could not (were not willing to) forsee that the golden goose would eventually stop laying the eggs.
The NIMBY attitude has not helped either.
Also, the US consumer is not the only market which dilutes the impact of our actions.
This attitude has happened over the past 30+ years, not just the past 5-6.
At present the consumer has few options and even fewer that are acceptable.
Part has been due to the consumer's attitude. They have chosen to reject costly alternatives when they could not (were not willing to) forsee that the golden goose would eventually stop laying the eggs.
The NIMBY attitude has not helped either.
Also, the US consumer is not the only market which dilutes the impact of our actions.
This attitude has happened over the past 30+ years, not just the past 5-6.
Oil - The Tale of too many lies to count.
See just two examples below from same day.
Inventories at 8 yr highs, continuing to say Markets well supplied and even over-supplied yet in same sentence says Oil Production is down 20 percent beause of Militants and kidnappings and reason for Oil prices soaring.
6-8-2006 Oil prices fall by more than $1 a barrel on news of al-Zarqawi killing
WASHINGTON - Oil prices sank for the third straight trading session on Thursday, falling by more than $1 a barrel following the death of al-Qaida's leader in Iraq and on concerns about global economic growth.
"The hope is that with the removal of the terror leader in Iraq, the Iraqi situation will stabilize faster and future oil supply could increase," said Victor Shum, energy analyst with Purvin & Gertz in Singapore.
6-8-2006 Militants Target Nigeria's Oil Industry
Nigeria is Africa's leading oil exporter and the United States' fifth-largest supplier, usually exporting 2.5 million barrels daily. Militant attacks on oil pipelines and kidnappings have cut oil production by more than 20 percent this year and sent world oil prices soaring.
See just two examples below from same day.
Inventories at 8 yr highs, continuing to say Markets well supplied and even over-supplied yet in same sentence says Oil Production is down 20 percent beause of Militants and kidnappings and reason for Oil prices soaring.
6-8-2006 Oil prices fall by more than $1 a barrel on news of al-Zarqawi killing
WASHINGTON - Oil prices sank for the third straight trading session on Thursday, falling by more than $1 a barrel following the death of al-Qaida's leader in Iraq and on concerns about global economic growth.
"The hope is that with the removal of the terror leader in Iraq, the Iraqi situation will stabilize faster and future oil supply could increase," said Victor Shum, energy analyst with Purvin & Gertz in Singapore.
6-8-2006 Militants Target Nigeria's Oil Industry
Nigeria is Africa's leading oil exporter and the United States' fifth-largest supplier, usually exporting 2.5 million barrels daily. Militant attacks on oil pipelines and kidnappings have cut oil production by more than 20 percent this year and sent world oil prices soaring.
>Please explain how inventories and market over-supplied yet at same
>time Oil production is down 20 percent
Demand is down world wide. A couple of weeks ago Ed Wallace reported that even the demand for oil in China was down.
It is doubtful that this is the only reason but it is one reason for you to consider.
>time Oil production is down 20 percent
Demand is down world wide. A couple of weeks ago Ed Wallace reported that even the demand for oil in China was down.
It is doubtful that this is the only reason but it is one reason for you to consider.
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
Oil company executives defend high oil/gas prices. State the US pays a lot less than the rest of the world.
Well DUH. When you have 75% of the price of your gas as taxes in the rest of the world, the US would have a lower price now wouldn't it.
Execs just searching for new excuses.
Well DUH. When you have 75% of the price of your gas as taxes in the rest of the world, the US would have a lower price now wouldn't it.
Execs just searching for new excuses.
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