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The future is not what it used to be (oil)

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  • The future is not what it used to be (oil)

    180$ a barrel!! Screw it, Im staying home.

    http://articles.moneycentral.msn.com/In ... arrel.aspx
    If you're ever walking down the beach and you see a girl dressed in a bikini made out of seashells, and you pick her up and hold her to your ear, you can hear her scream.

  • #2
    Re: The future is not what it used to be

    Originally posted by Dietmar239
    180$ a barrel!! Screw it, Im staying home.
    At that price, you won't be the only one.

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    • #3
      If you need a sure way to collapse the American ecomomy, make it so that people are forced to stay in their homes just 10% more than they are used to. As soon as people have to curtail their car-driving habits, we are all so screwed. We have become a highly mobile society, and our buying habits are highly dependent on that 'freedom'. When the 'travel/entertainment/fastfood' industries get hurt, everyone feels it. My wife and I will be travelling far less this summer than usual ('cept the mandatory OT trip!!).

      Comment


      • #4
        Re: The future is not what it used to be

        Originally posted by Dietmar239
        180$ a barrel!! Screw it, Im staying home.

        http://articles.moneycentral.msn.com/In ... arrel.aspx
        A surprising note in the article. The oil industry in Russia is short of cash? I thought they were making out like bandits! I haven't checked into the "Hubbert curve" idea for Russian oil production, but perhaps their oil production has (also) peaked out. It has been declining fairly steadily from the 1970s for the USA, peaked in ~1998 for China and ~1983 for India, three of the main oil guzzlers on the scene. (Statistics quoted above, shown to me by a Stanford prof. some years back).

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        • #5
          To get an Americans attention, you must first kick them in the balls. They listen quite well when bent over. That is the only way to get them out of their gas sucking SUVs. Look around now.....with gas at 3.76/gal you still see tons of gas guzzlers on the roads. And they do whine at the gas pumps, 25 gallons at $3.76 = $94.00, but they do nothing to fix it.

          Also, note that any car that does get decent gas mileage comes from lands other than the USA, Japan leading the way. Euros have been paying big bucks for fuel for years and you do not hear lots of whining from them. The French have a car that runs on compressed air. Hybrid that with a small gas engine and you may get over 100mpg.

          Wake up America. We can do it if we set our mind to it. Look how we turned around after being attacked at Pearl Harbor. We are now being attacked by the oil industry. Do we have the heart to fight back. I have my doubts.

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          • #6
            Aside from any personal kicks to the groin, figure also that if the airlines keep adding (no choice) fuel surcharges, etc., we could see lots of track programs (not football of course) with reduced travel schedules. It'll hit us where we play too.

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            • #7
              Originally posted by Jack Slocombe
              To get an Americans attention, you must first kick them in the balls. They listen quite well when bent over. That is the only way to get them out of their gas sucking SUVs. Look around now.....with gas at 3.76/gal you still see tons of gas guzzlers on the roads. And they do whine at the gas pumps, 25 gallons at $3.76 = $94.00, but they do nothing to fix it.

              Also, note that any car that does get decent gas mileage comes from lands other than the USA, Japan leading the way. Euros have been paying big bucks for fuel for years and you do not hear lots of whining from them. The French have a car that runs on compressed air. Hybrid that with a small gas engine and you may get over 100mpg.

              Wake up America. We can do it if we set our mind to it. Look how we turned around after being attacked at Pearl Harbor. We are now being attacked by the oil industry. Do we have the heart to fight back. I have my doubts.
              Exactly. The real solution here will require a good deal of pain and dislocation, but it's the only way to truly get control of the situation. Merely hoping/demanding that prices go down won't do it. If we'd been paying $6 or $7 a gallon all these years, as in Europe, we'd be much better positioned to survive the next couple decades...

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              • #8
                Rubbish, Jack. Your sweeping generalizations are disingenuous at best.

                You cover your own business and don't worry about what other people drive. Unless you want others to tell you what to eat, what to wear and where you can live.

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                • #9
                  You all do understand the latest runup in oil prices has virtually nothing to do with supply and demand?
                  There are no strings on me

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                  • #10
                    Originally posted by gm
                    Rubbish, Jack. Your sweeping generalizations are disingenuous at best.
                    All he said was don't whine about gas prices AND drive gas guzzlers. Seems like a fair comment.

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                    • #11
                      Even though I am a fifty- five year veteran of the oil patch, I personally pucker up just like everyone else at current retail gasoline prices. However, those who rail at Big Oil apparently do not understand that Exxon/Mobil etal control only about 5-6% of the world crude oil supply and do not set the price of crude.
                      The price of crude oil is determined by traders who bid oil futures up based not on the moment but on their assessment of the factors that ultimately affect supply and demand and what someone will be willing to pay for the contracts they hold.
                      If you gives you any comfort, every dollar that price of oil increases is not an incremental dollar of profit. The cost of goods and services to find, produce and deliver that oil very efficiently keeps pace with price increase.

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                      • #12
                        Originally posted by Daisy
                        Originally posted by gm
                        Rubbish, Jack. Your sweeping generalizations are disingenuous at best.
                        All he said was don't whine about gas prices AND drive gas guzzlers. Seems like a fair comment.
                        C'mon Daisy, you can read. He said a lot more than that!

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                        • #13
                          Originally posted by gm
                          Rubbish, Jack. Your sweeping generalizations are disingenuous at best.

                          You cover your own business and don't worry about what other people drive. Unless you want others to tell you what to eat, what to wear and where you can live.
                          Other people can drive whatever they want. No one's telling anyone what to do. It's a free country. Those who freely choose to drive Hummers and Ford Explorers will freely go broke. Once that happens, with the gas money I save in my Prius, I can freely move in and buy their foreclosed home that they mostly likely also couldn't afford (even before oil-induced bankruptcy)...

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                          • #14
                            The prices are not all that high in euro terms. It's more of a weakening USD effect than anything else.
                            Było smaszno, a jaszmije smukwijne...

                            Comment


                            • #15
                              Originally posted by guru
                              You all do understand the latest runup in oil prices has virtually nothing to do with supply and demand?
                              Guru,

                              I've learned that most people really don't and don't WANT to understand how the oil-based industries really work. Oil has seen its run-up in prices because of SPECULATION in the oil markets based on several factors. 1) Real and anticipated energy demands coming on line world-wide, 2) a flight to commodities speculation from equities because of lack of performance in the markets, 3) the world, and specifically the US, lack of resolve in tapping into our own internal oil reserves (Anwar, Northern Plains, Pacific Coast, etc.), 4) lack of building additional refining capacities since the mid-70's to handle the oil we do use in a timely fashion without affecting deliveries when needed maintenance is performed. These are some of the major reasons for the run-up in oil prices; unfortunately, most people have their heads stuck-in-the-sand (and elsewhere) when it comes to the true order of things. Each of them has their own preconceived notions as to how things "ought" to be, and unfortunately are quite often influenced by the falsehoods put out by the "environmental" lobby which is just as disingenous, if not more, than the oil industry. Trying to talk sense to all too many of such people is like beating your head against the wall, but some of us have to do it, I suppose.

                              Kurt

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