Some days urg makes me proud to be his friend. Then there are the days that he steals my beer and fucks my woman. Somedays he gets that backwards.-Lothar
"Those were good days. Sitting around the campfires, eating dinosaur meat, and clubbing our wimmens in the head. I dream of those days sometimes. When Urg would make speeches and lead us to victory over the neighboring tribes. Good days, man. Good days." -Grimm
We're not allowed to drill for our own oil. We're buying it from foreigners using our deteriorating currency. The stock traders are overcompensating for it and the speculation is making the consumption in the oil market sluggish. As a result, the oil companies have to pick up the slack and pay more supplying it in the open market.
The first step to fixing it is to actually drill our own oil for fuck's sake.
Eventually yeah, but we can't be thinking like that right now or else we're just going to ignore the fact that we're be bled dry because we have so much hope for a new energy source. Even if we do have one tomorrow, it's gonna take quite a while before it would become a staple in the economy.
We're not allowed to drill for our own oil. We're buying it from foreigners using our deteriorating currency. The stock traders are overcompensating for it and the speculation is making the consumption in the oil market sluggish. As a result, the oil companies have to pick up the slack and pay more supplying it in the open market.
The first step to fixing it is to actually drill our own oil for fuck's sake.
Not only that, but the government pushed ethanol on us, which was a tragic mistake because not only does it burn up our food supply, E85 actually combusts faster, meaning you get less mpg than with regular gasoline and have to fill up more. Hydrogen looks to be the more economical and eco-friendly substitute for oil, but the soonest we'll see those cars in mass production is 2013, and then all the gas stations have to start converting to hydrogen, and you'll have all these cars on the road that still run on gas because it'll take probably 20-30 years to eliminate all the fossil fuel vehicles from the road. And even after we eliminate the cars, there's still a ton of market products that are manufactured from oil, not to mention the revenue from selling our oil to foreign nations, so there's no reason at all we shouldn't drill here.
Yeah, in the 'burbs here it'll start out at 4.20 but be down to 4.14 at the end of the day. It's got to be about 4.40 something in the city. It gets cheaper the further west you go (Aurora, etc.).
Oil prices dropped sharply Thursday after China said it will raise fuel prices, a move that could dampen the booming Asian nation's oil consumption.
Prices also were given a downward push by the Iraqi Oil Ministry's announcement that it is close to signing oil service deals with several major Western oil companies in an effort to boost its crude output.
Retail gas prices, meanwhile, slid overnight.
Light, sweet crude for July delivery fell $4.75 to settle at $131.93 a barrel on the New York Mercantile Exchange.
China disclosed that it will raise prices for gasoline and diesel fuel 16 percent and 18 percent, respectively, beginning Friday.
Growing Chinese demand for oil has underpinned the multiyear rally in oil prices, but higher prices could crimp that demand. Concerns about spiking Chinese demand for diesel due to cleanup operations in the aftermath of last month's earthquake contributed to oil's recent run-up.
"This could change the psychology of the market completely," said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.
Lower demand in China "would be a major factor in driving prices down," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
Also pressuring prices Thursday was Iraq's announcement.
The service agreements would be the first major Iraqi contracts with big Western companies since the 2003 U.S.-led invasion. In March, Iraq's Cabinet said the ministry could sign deals worth around $500 million each. Baghdad hopes to boost output by 600,000 barrels a day over its current 2.5 million barrels per day.
While that's not a huge increase, and is unlikely to occur for some time, analysts said the announcement contributed to market psychology on Thursday.
"It's part of the puzzle," Cordier said. "It all adds up."
The dollar's gains against the euro gave traders even more reason to sell. Investors who buy commodities such as oil as a hedge against inflation when the dollar falls tend to sell when the greenback gains ground. Also, a stronger dollar makes oil more expensive to overseas investors.
Energy investors are also awaiting a weekend summit in Saudi Arabia between oil consuming and producing nations to address high prices.
Investors shrugged off news of an attack on a Royal Dutch Shell PLC oil field in Nigeria that produces about 200,000 barrels of crude per day.
At the pump, meanwhile, gas prices slipped 0.2 cent overnight to a national average of $4.073 a gallon, according to a survey of stations by AAA and the Oil Price Information Service. Gas prices have followed oil futures higher this year. But with oil prices stalled in a rough range between $132 and $139, gas prices appear to have topped out, for now.
Demand for gasoline is falling in the United States.
On Wednesday, the Transportation Department said Americans drove 1.4 billion fewer highway miles in April than during April 2007, and 400 million miles less than in March of this year. Vehicle miles traveled on all public roads in April fell 1.8 percent from a year earlier.
In other Nymex trading Thursday, July gasoline futures fell 11.41 cents to settle at $3.3526 a gallon, and July heating oil futures fell 14.65 cents to settle at $3.7135 a gallon. July natural gas futures fell 34.9 cents to settle at $12.861 per 1,000 cubic feet. The Energy Department said natural gas inventories rose by 57 billion cubic feet last week, toward the lower end of the range of analyst estimates.
In London, August Brent crude futures fell $4.44 to settle at $132 a barrel on the ICE Futures Exchange.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet."
They bitch about making new refineries which makes it more expensive.
They stopped the drilling in the wasteland in Alaska by propagating that it was a "beautiful area".
By hippies I mean environmentalists and insurgency posters. And damn dirty hippies.
well the guy who actually holds the power, Bush, said in 2000 that the gas prices under Clinton was an example of his failed energy policy. The gas prices now are many many times higher and it is somehow still liberal's fault? we shouldn't tear up the planet for oil, we don't need to. where is your anger at the oil companies who are making record profits in the billions? they have power, they have influence, they are getting richer and richer off of this and actually have the power to affect real change in the prices. where's your anger? or is your anger only for people who want to preserve some nature up in Alaska?
The oil-rich Gulf Cooperation Council (GCC) states are projected to earn close to 1.3 trillion dollars in oil revenue in 2008 and 2009, a Kuwaiti economic report said on Saturday.
The six-nation alliance -- Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Saudi Arabia -- earned 364 billion dollars from oil in 2007, the Al-Shall Economic Consultants said in its weekly report.
The GCC oil revenues are projected to reach 636 billion dollars in 2008 and 657 billion dollars in 2009, Al-Shall said.
Oil powerhouse Saudi Arabia's earnings in the two years will be just under 700 billion dollars. The kingdom posted 194 billion dollars in oil revenues in 2007.
The six states, which boast just less than half of the world's crude proven reserves, produce around 16 million barrels per day, or just under one-fifth of the world's consumption.
yeah lets leave that stuff in the ground, the us has so many other natural resources to compete in the world market who needs to sell this stuff....
Originally Posted By: Friendly Neighborhood Ray-man
Originally Posted By: rex
Hippies.
They bitch about making new refineries which makes it more expensive.
They stopped the drilling in the wasteland in Alaska by propagating that it was a "beautiful area".
By hippies I mean environmentalists and insurgency posters. And damn dirty hippies.
well the guy who actually holds the power, Bush, said in 2000 that the gas prices under Clinton was an example of his failed energy policy. The gas prices now are many many times higher and it is somehow still liberal's fault? we shouldn't tear up the planet for oil, we don't need to. where is your anger at the oil companies who are making record profits in the billions? they have power, they have influence, they are getting richer and richer off of this and actually have the power to affect real change in the prices. where's your anger? or is your anger only for people who want to preserve some nature up in Alaska?
Bush tried to change Clinton's energy policy, but congress passed legislation to prevent it.
Originally Posted By: Friendly Neighborhood Ray-man
Originally Posted By: rex
Hippies.
They bitch about making new refineries which makes it more expensive.
They stopped the drilling in the wasteland in Alaska by propagating that it was a "beautiful area".
By hippies I mean environmentalists and insurgency posters. And damn dirty hippies.
well the guy who actually holds the power, Bush, said in 2000 that the gas prices under Clinton was an example of his failed energy policy. The gas prices now are many many times higher and it is somehow still liberal's fault? we shouldn't tear up the planet for oil, we don't need to. where is your anger at the oil companies who are making record profits in the billions? they have power, they have influence, they are getting richer and richer off of this and actually have the power to affect real change in the prices. where's your anger? or is your anger only for people who want to preserve some nature up in Alaska?
Bush tried to change Clinton's energy policy, but congress passed legislation to prevent it.
clinton had a republican congress for most of his term. bush has had a republican congress for the bulk of his presidency, a congress that supported wars in oil-rich countries. why is clinton to blame when he had an opposition congress but bush isn't to blame when he had a congress on his side? never the republican's fault, is it? again i say
Much more nuclear power (Generation III and IV, high temperature breeder reactors, thorium breeder reactors, etc).
Use methane, methanol, DME, synthetic diesel and kereosene (jet fuel) made of cellulose and waste instead of gasoline.
Light and effiecent cars with hybrid and/or diesel engines.
Stop using electricity, oil and natural gas for central heating.
Wave, tidal and wind power.
Forbid SVU's and pick ups for those who don't need it for work.
Lower prices on commuting, more railroads and fast trains like the Japanese Shinkansen.
Replace today's aircrafts with Zeppelins and new planes with turboprops, built with new, lighter alloys and composite materials.
Etc. (Most of this could have been done during the 1970's, so don't give me bullcrap about "new technologies that won't exist until year 2050".)
"Batman is only meaningful as an answer to a world which in its basics is chaotic and in the hands of the wrong people, where no justice can be found. I think it's very suitable to our perception of the world's condition today... Batman embodies the will to resist evil" -Frank Miller
"Conan, what's the meaning of life?" "To crush your enemies, see them driven before you, and hear the lamentations of their women!" -Conan the Barbarian
"Well, yeah." -Jason E. Perkins
"If I had a dime for every time Pariah was right about something I'd owe twenty cents." -Ultimate Jaburg53
"Fair enough. I defer to your expertise." -Prometheus
