It is kind of obvious that if the price of oil goes up too high, it will be more advantageous to obtain domestic oil. When the cost of drilling and obtaining domestic oil can make a profit it becomes advantageous to do more domestic drilling and development.
Most of the oil left in America are in fields less than 5 mbd big. For the most part, they are uneconomical to drill. We will never be energy independant in our life times.
Awwwww, too bad only the Rich will be abke to travel in the U.S.
3-5-2005 Gas Getting Pricier, Oil Demand Rises
"I believe oil prices and the economy are on a collision course and that it's only a matter of time," Beutel added.
The greatest financial squeeze will surely be felt by low- and fixed-income families, who spend about three times as much of their wealth on energy as do middle-income families.
3-5-2005 Gas Getting Pricier, Oil Demand Rises
"I believe oil prices and the economy are on a collision course and that it's only a matter of time," Beutel added.
The greatest financial squeeze will surely be felt by low- and fixed-income families, who spend about three times as much of their wealth on energy as do middle-income families.
I wonder, are other countries also seeing big increases in gas prices? I know Europe already pays a lot, wonder if they're paying even more now?
Originally posted by: Engineer
Maybe I'm wrong here, but most OPEC oil is tied to the US dollar, so I would assume with the weak dollar, it isn't hurting Europe as much as it is us.
Well there has been talk of the Oil Cartel switching to the Euro.
The article below also says that prices have been increased to offset the 8% drop of the dollar. Is the Oil increase proportional (8%)???
Look at here, we've seen this before many times here. The Oil Chief Theif says he is concerned that Oil is so high when the Market is well "supplied".
3-7-2005 OPEC Chief 'Concerned' About Oil Prices
VIENNA, Austria - Seeking to cool market sentiment, the head of OPEC on Sunday said the organization is "concerned" about stubbornly high prices that defy what he described as a well-supplied market and adequate crude stocks worldwide.
Because crude sells worldwide for U.S. dollars, and because the currency has lost 8 percent of its value against the euro in the last four months, OPEC nations have signaled support for higher oil prices as a hedge to ensure their buying power in Europe does not fall too much.
Originally posted by: dmcowen674
Originally posted by: Engineer
Maybe I'm wrong here, but most OPEC oil is tied to the US dollar, so I would assume with the weak dollar, it isn't hurting Europe as much as it is us.
Well there has been talk of the Oil Cartel switching to the Euro.
The article below also says that prices have been increased to offset the 8% drop of the dollar. Is the Oil increase proportional (8%)???
Look at here, we've seen this before many times here. The Oil Chief Theif says he is concerned that Oil is so high when the Market is well "supplied".
3-7-2005 OPEC Chief 'Concerned' About Oil Prices
VIENNA, Austria - Seeking to cool market sentiment, the head of OPEC on Sunday said the organization is "concerned" about stubbornly high prices that defy what he described as a well-supplied market and adequate crude stocks worldwide.
Because crude sells worldwide for U.S. dollars, and because the currency has lost 8 percent of its value against the euro in the last four months, OPEC nations have signaled support for higher oil prices as a hedge to ensure their buying power in Europe does not fall too much.
If the dollar devalues any more, you can bet your ass OPEC will trade with the Euro.
3-8-2005 How high could cost of gas go?
The high prices are already starting to take a toll on the economy, say economists
Some expect the numbers to keep rising because the wholesale price of gasoline has risen even faster. Analysts predict that this week, gasoline prices will rise by as much as 12 cents a gallon at the pump and another 12 cents a gallon by the end of the month. This could put the price at the pump at close to $2.25 a gallon nationally.
OPEC meets in mid-March in Vienna to discuss its quotas. Originally, some oil ministers had discussed cutting production since worldwide inventories have been rising. "Now, OPEC is backpedaling and might increase production," says Mr. Mueller. "They don't feel comfortable with oil above $50 a barrel because they know over the long term it starts to cause some shifts - for example, people buying more hybrid autos, which use less gasoline."
============================================
Gas has gone up here 5 cents everday since Saturday, now at $1.95 for regular, last week was $1.75
Edit: woa, jumped another 20 cents today alone since this morning.
Stations that were $1.95 this morning now at $2.15!!!
That's 40 cent jump in 4 days!!!
:thumbsup:
The high prices are already starting to take a toll on the economy, say economists
Some expect the numbers to keep rising because the wholesale price of gasoline has risen even faster. Analysts predict that this week, gasoline prices will rise by as much as 12 cents a gallon at the pump and another 12 cents a gallon by the end of the month. This could put the price at the pump at close to $2.25 a gallon nationally.
OPEC meets in mid-March in Vienna to discuss its quotas. Originally, some oil ministers had discussed cutting production since worldwide inventories have been rising. "Now, OPEC is backpedaling and might increase production," says Mr. Mueller. "They don't feel comfortable with oil above $50 a barrel because they know over the long term it starts to cause some shifts - for example, people buying more hybrid autos, which use less gasoline."
============================================
Gas has gone up here 5 cents everday since Saturday, now at $1.95 for regular, last week was $1.75
Edit: woa, jumped another 20 cents today alone since this morning.
Stations that were $1.95 this morning now at $2.15!!!
That's 40 cent jump in 4 days!!!
:thumbsup:Originally posted by: dmcowen674
3-8-2005 How high could cost of gas go?
The high prices are already starting to take a toll on the economy, say economists
Some expect the numbers to keep rising because the wholesale price of gasoline has risen even faster. Analysts predict that this week, gasoline prices will rise by as much as 12 cents a gallon at the pump and another 12 cents a gallon by the end of the month. This could put the price at the pump at close to $2.25 a gallon nationally.
OPEC meets in mid-March in Vienna to discuss its quotas. Originally, some oil ministers had discussed cutting production since worldwide inventories have been rising. "Now, OPEC is backpedaling and might increase production," says Mr. Mueller. "They don't feel comfortable with oil above $50 a barrel because they know over the long term it starts to cause some shifts - for example, people buying more hybrid autos, which use less gasoline."
============================================
Gas has gone up here 5 cents everday since Saturday, now at $1.95 for regular, last week was $1.75
Edit: woa, jumped another 20 cents today alone since this morning.
Stations that were $1.95 this morning now at $2.15!!!
That's 40 cent jump in 4 days!!!
Boy the Journalists & Analysts are really far behind. Gas is already at $2.15 and they are predicting it will be $2.15 by end of the month.
3-9-2005 Gas Prices Likely to Hit $2.15 by Spring
WASHINGTON - Gasoline prices probably will jump an additional 15 cents this spring and remain well above $2 a gallon through the heavy driving season, forecasters say.
Some analysts have suggested crude could surpass $60 a barrel in the coming weeks
Prices are likely to average about $2.15 a gallon by spring and early summer, despite adequate fuel inventories.
==============================
So much for the P&N Bullsh1t that it is Supply and Demand
Not bothering with a link.
The Oil Cartel said they will add 500,000 barrels a day to already "well enough supplied" (the Oil Minister's words) to try and stabilize the whack Oil Traders worried about China using up all of the Oil.
They are happy about high Gas Prices of course since it offsets the low dollar which is the real reason for the run up.
Will this be enough to save the Airlines whinning about high fuel costs???
I'm sure they get a "discount" we don't know about anyway.
The Oil Cartel said they will add 500,000 barrels a day to already "well enough supplied" (the Oil Minister's words) to try and stabilize the whack Oil Traders worried about China using up all of the Oil.
They are happy about high Gas Prices of course since it offsets the low dollar which is the real reason for the run up.
Will this be enough to save the Airlines whinning about high fuel costs???
I'm sure they get a "discount" we don't know about anyway.
dullard
Elite Member
- May 21, 2001
- 26,196
- 4,868
- 126
Filled up today for the first at over $2/gallon. I'd managed to avoid doing so in previous price spikes but looks like this one's here to stay.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
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I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
I think it's going to take at least that. In my continual observations of driving habits, SUV drivers aren't slowing down. A couple of years ago when gas prices first hit the $1.75/gallon area, I did notice general change in SUV driving - they were slowing down. Not so anymore. It's been high for so long they've become accustomed to it, I suppose.Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
The fed. gov't should just raise the gas tax until a gallon hits the $3 level (can't believe I'm saying that). The only way to encourage conservation and to lessen oil dependence is to direct market forces in other directions.
Originally posted by: Mursilis
Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
The fed. gov't should just raise the gas tax until a gallon hits the $3 level (can't believe I'm saying that). The only way to encourage conservation and to lessen oil dependence is to direct market forces in other directions.
Honestly, I'd be for that if every penny raised went to alternative fuel research.
Originally posted by: Darkhawk28
Originally posted by: Mursilis
Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
The fed. gov't should just raise the gas tax until a gallon hits the $3 level (can't believe I'm saying that). The only way to encourage conservation and to lessen oil dependence is to direct market forces in other directions.
Honestly, I'd be for that if every penny raised went to alternative fuel research.
The gov't wouldn't need to subsidize alternative fuel research - the private sector would provide it to a public demanding alternative fuel sources. I could be wrong, but I don't think any federal funds paid for the research that resulted in such hybrids as the Toyota Prius and the Honda Insight. Automakers are selling hybrids as fast as they can make them.
funny, i'd think common sense would kick in, the price of oil is based on the US dollar, so if the dollars falls 40% against the euro, like it has in the last 5 years, wouldn't that dictate a 40% increase in gas prices? the oil companies have to recoupe lost revinue resulting from the dollar slide, so what do they do----- raise prices
Originally posted by: Mursilis
Originally posted by: Darkhawk28
Originally posted by: Mursilis
Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
The fed. gov't should just raise the gas tax until a gallon hits the $3 level (can't believe I'm saying that). The only way to encourage conservation and to lessen oil dependence is to direct market forces in other directions.
Honestly, I'd be for that if every penny raised went to alternative fuel research.
The gov't wouldn't need to subsidize alternative fuel research - the private sector would provide it to a public demanding alternative fuel sources. I could be wrong, but I don't think any federal funds paid for the research that resulted in such hybrids as the Toyota Prius and the Honda Insight. Automakers are selling hybrids as fast as they can make them.
Hybrids are only the first step. We need to get off of oil completely. I think subsidizing alternative fuel research is TRULY a matter of national security.
Originally posted by: Darkhawk28
Originally posted by: Mursilis
Originally posted by: Darkhawk28
Originally posted by: Mursilis
Originally posted by: Skoorb
I'd like them to hit $3 for just a little while, long enough for the fear of God to encourage people about the idea that, hey, this is a finite resource. Maybe we should start looking at some alternatives a bit more aggressively? I've said this before though
The fed. gov't should just raise the gas tax until a gallon hits the $3 level (can't believe I'm saying that). The only way to encourage conservation and to lessen oil dependence is to direct market forces in other directions.
Honestly, I'd be for that if every penny raised went to alternative fuel research.
The gov't wouldn't need to subsidize alternative fuel research - the private sector would provide it to a public demanding alternative fuel sources. I could be wrong, but I don't think any federal funds paid for the research that resulted in such hybrids as the Toyota Prius and the Honda Insight. Automakers are selling hybrids as fast as they can make them.
Hybrids are only the first step. We need to get off of oil completely.
I don't think that will or should happen. Oil is still a good energy source, but it should be one among others. I'd just like to see the costs of it adjusted to spur private demand for other sources.
i agree with this
i think the US would have must less interest in peace in the middle east if we weren't importing 52% of our oil, consequently our militray presence there could be drastically reduced, (no americans in the holy land) who would the jihad fighters hate then?
i think the US would have must less interest in peace in the middle east if we weren't importing 52% of our oil, consequently our militray presence there could be drastically reduced, (no americans in the holy land) who would the jihad fighters hate then?
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