Oil Tops $61 a barrel, new high.

[MarauderMike]

I don't know about the rest of you, but I would like to thank Congress for their aggressive energy programs which has contributed to oil hitting a new high today of $61.28 a barrel. I would like to thank Congress for the fact they have not approved the building of a new oil refinery in the last 30 years, other than we do not promote the domestic exploration of oil our country has a severe lack of refining capacity. I would like to thank Congress for the fact that they have not approved the building of a new nuclear power plant in the last 30 years, I know this opens a whole can of worms but even the enviormentalists now approve of nuclear power since it doesn't have a negative ozone effect. I would like to thank Congress for effectively stopping the domestic exploration of oil, come to think of it this may be the only thing they have done effectively in the last 30 years.
I salute you Congress from the bottom of my over taxed, gasoline cost drained wallet.

[oldekid]

My hats go off to congress too!

:down:

:fire:

:dunno:

:stooges:

[gpfarrell]

You can blame Congress, I'm sure they deserve plenty... but don't forget the evil laws of Economics.

Basically, OPEC can produce oil for about $20 a barrell. Domestic exploration, if all went well... would be about $30 a barrell.

$30 is cheaper than $61... but no well managed company in the world is going to invest billions to harvest a product for a cost of $30 when the competition can do it for $20.

Tough conundrum. If Bigoil USA Inc. dug the wells, OPEC would flood the market and put them out of business... then jack the prices up to $75/barrell.

No simple solutions.

[Joe Walsh]

You can blame Congress, I'm sure they deserve plenty... but don't forget the evil laws of Economics.

Basically, OPEC can produce oil for about $20 a barrell. Domestic exploration, if all went well... would be about $30 a barrell.

$30 is cheaper than $61... but no well managed company in the world is going to invest billions to harvest a product for a cost of $30 when the competition can do it for $20.

Tough conundrum. If Bigoil USA Inc. dug the wells, OPEC would flood the market and put them out of business... then jack the prices up to $75/barrell.

No simple solutions.

Yes there is......drop a pi$$ load of nukes on the middle east and turn the desert sand into a sheet of plate glass. Drill through the glass and pump out the oil for free!!!! :banana:
No more Taliban, crazed terrorists, OPEC, religious wars.....and most important of all....lots of CHEAP GAS!

[texascorvette]

I don't mind the price nearly as much as I mind sending my money to a bunch of lunatics who want to use my money to send terrorists back here to my country. Importing crude that costs less money than domestic crude may make economic sense, but closing all our U.S. refineries to import gasoline is loading the gun that other countries use to hold against our head. As a country, allowing our refineries to close is one of the more stupid things we have done to ourselves in the last thirty years.

[rocknrod]

I don't know about the rest of you, but I would like to thank Congress for their aggressive energy programs which has contributed to oil hitting a new high today of $61.28 a barrel. I would like to thank Congress for the fact they have not approved the building of a new oil refinery in the last 30 years, other than we do not promote the domestic exploration of oil our country has a severe lack of refining capacity. I would like to thank Congress for the fact that they have not approved the building of a new nuclear power plant in the last 30 years, I know this opens a whole can of worms but even the enviormentalists now approve of nuclear power since it doesn't have a negative ozone effect. I would like to thank Congress for effectively stopping the domestic exploration of oil, come to think of it this may be the only thing they have done effectively in the last 30 years.
I salute you Congress from the bottom of my over taxed, gasoline cost drained wallet.This would be a perfect letter to send to your congressman. I think I will if you don't mind me plegerizing it.

[UAW 588]

Yes there is......drop a pi$$ load of nukes on the middle east and turn the desert sand into a sheet of plate glass. Drill through the glass and pump out the oil for free!!!! :banana:
No more Taliban, crazed terrorists, OPEC, religious wars.....and most important of all....lots of CHEAP GAS!
Dude, I'm with you!!!!!!!!!!!!!!! :flamer:

[jgc61sr2002]

Regular gasoline is at an all time high on Long Island $243.9 up 8 cents in two days. Preimum is $ 263.9. :(

[BruteForce]

Too bad we can't annex the whole area and set up a citizen payment system like they have in Alaska. We run the place. Everybody gets paid. I doubt it will change corporate pricing behavior much but at least the locals would be more likely to be supportive as in turn their guns on the foreign instigators.. erm.. I mean insurgents... instead of us.

[Joe Walsh]

Too bad we can't annex the whole area and set up a citizen payment system like they have in Alaska. We run the place. Everybody gets paid. I doubt it will change corporate pricing behavior much but at least the locals would be more likely to be supportive as in turn their guns on the foreign instigators.. erm.. I mean insurgents... instead of us.


Good Idea!!

Since they all seem to love Dictatorships more than a Democracy, we should pump all the oil we want and "dictate" a price to be paid of $20 per barrel.
Then we just distribute the proceeds to the populace, NOT the governments nor the Sheiks.
When all the oil is gone they can return to the a$$backwards *****hole sanddunes that they were BEFORE oil was discovered. :cry:

[jgc61sr2002]

I don't know about the rest of you, but I would like to thank Congress for their aggressive energy programs which has contributed to oil hitting a new high today of $61.28 a barrel. I would like to thank Congress for the fact they have not approved the building of a new oil refinery in the last 30 years, other than we do not promote the domestic exploration of oil our country has a severe lack of refining capacity. I would like to thank Congress for the fact that they have not approved the building of a new nuclear power plant in the last 30 years, I know this opens a whole can of worms but even the enviormentalists now approve of nuclear power since it doesn't have a negative ozone effect. I would like to thank Congress for effectively stopping the domestic exploration of oil, come to think of it this may be the only thing they have done effectively in the last 30 years.
I salute you Congress from the bottom of my over taxed, gasoline cost drained wallet.


An excllent reason to use synthetic oil products even if they cost more.

[STLR FN]

I say let them bleed their oil reserves dry. I hate paying high prices but unless there is an easier alternative keep the status quo. When they run out, we'll still have our reserves, theie economies will be in shambles and we get to have all the fun in the world.But as said before Congress will ***** it up somehow. :shake: :mad2: :shake:

[hitchhiker]

My hats go off to congress too!

:down:

:fire:

:dunno:

:stooges:

A bunch of corporate paid off stooges!

:mad2:

[Joe Walsh]

A bunch of corporate paid off stooges!

:mad2:


Hey, WE are the knuckleheads who keep voting the useless incumbents back into office!!!!
If you don't like what the morons are doing: VOTE THEM OUT!

We have no one to blame but ourselves.....

It is sad that we have to resort to 'Term Limits' to rid Congress of the idiots who are 'dug in like a tick on a hound' up on Capitol Hill. :shake:

[Bluerauder]

I don't know about the rest of you, but I would like to thank Congress for their aggressive energy programs which has contributed to oil hitting a new high today of $61.28 a barrel.

Naaaah .... the first one's that I would blame are the greedy oil companies and their greedy executives all up and down the line. :rolleyes:

How long did it take Big Oil to jump on the hurricane bandwagon and announce higher prices, reduced supply, production impacts and the like all in anticipation of Cindy and Dennis ?? Stations are already changing the signs to reflect the higher prices in advance of any real impacts. :mad: The same thing happens when these folks can make any loose connection to any remote world event ... and it happens every Spring when they announce more travel, greater demand, and prep the public for higher prices. This is sheer market manipulation. :mad2:

Of course, even with the annual predictions of major losses and looming disaster .... why does Big Oil post huge profits of 30% or more and award ludicrous bonuses to their top dogs each and every year ?? :bs:

The whole process reeks of price gouging .... so I can't lay all the blame on the government. Well that's my :twocents: and MHO !!!

[Joe Walsh]

Naaaah .... the first one's that I would blame are the greedy oil companies and their greedy executives all up and down the line. :rolleyes:

How long did it take Big Oil to jump on the hurricane bandwagon and announce higher prices, reduced supply, production impacts and the like all in anticipation of Cindy and Dennis ?? Stations are already changing the signs to reflect the higher prices in advance of any real impacts. :mad: The same thing happens when these folks can make any loose connection to any remote world event ... and it happens every Spring when they announce more travel, greater demand, and prep the public for higher prices. This is sheer market manipulation. :mad2:

Of course, even with the annual predictions of major losses and looming disaster .... why does Big Oil post huge profits of 30% or more and award ludicrous bonuses to their top dogs each and every year ?? :bs:

The whole process reeks of price gouging .... so I can't lay all the blame on the government. Well that's my :twocents: and MHO !!!


Yep....Economics 101....Inelastic demand curve....NO substitutes for gasoline, so we just suck-it-up and pay the Oil Companies whatever they decide to charge us.

As Charlie pointed out, Prices jump instantly, even though that gasoline was produced weeks/months earlier with lower cost barrels of oil.......

BUT they go down ever so slowly and NEVER to the original levels. The prices always ratchet up. :(

"BOHICA"

(Bend Over Here It Comes Again)

[rayjay]

Yes there is......drop a pi$$ load of nukes on the middle east and turn the desert sand into a sheet of plate glass. Drill through the glass and pump out the oil for free!!!! :banana:
No more Taliban, crazed terrorists, OPEC, religious wars.....and most important of all....lots of CHEAP GAS!
BINGO!!!! now where is that Nuke their A$$, Take the gas! tshirt I had in the 70's?

[Tallboy]

Dropping a nuclear bomb on the middle east would make it a very quiet neighborhood, for, let's say, about 5000 years. We wouldn't be able to get to the oil.


Gas is cheap.

[Joe Walsh]

Dropping a nuclear bomb on the middle east would make it a very quiet neighborhood, for, let's say, about 5000 years. We wouldn't be able to get to the oil.


Gas is cheap.

DARN!!!! Can't they make nukes with short 'half-life' material???

[Tallboy]

DARN!!!! Can't they make nukes with short 'half-life' material???
If we could go in the next day, I'd push the buttons myself and make the whole place a parking lot.:cool:

[MENINBLK]

Fuel prices rose a whole nickel here today.
I filled up this morning with Shell Premium 93 $ 2.639/gal
and this afternoon when I passed the station the price was $2.689 !!!

Am I glad I missed that bullet for now...

[David Morton]

In the end we have to realise Mother Earth has a limited supply of oil and sooner or later it's going to run out.

Bombing "them" won't change that fact one bit. If "they" are gouging us now, we'll buy less and that'll depress prices in the future, but it still won't change the basic fact that the world is running out of oil.

If you want to get the straight dope read this article (http://www.tompaine.com/articles/20050627/reaching_the_saudi_peak.php). My guess is the oil companies are starting to position themselves for a sharp decline in Saudi oil production.

I'm for America keeping all of its' oil here, in the ground, for the sake of our economy and security. Until we get ourselves weaned off petroleum we are vulnerable to the inevitable day when we can't buy it at any price from any country or take it by military means, because it isn't there!

So, I plan to dog the $h!t out of my Marauder, mod the phuk out of her, race like there's no tomorrow and generally have as much fun as I can with it because the day is gonna come when it's just gonna be a memory. So I'm gonna get lots of "nice pictures" to take with me.

:D

[shakes_26]

Reminds me of a little movie made a few years back.... here are a few catch phrases:

"the last of the V-8 interceptors.."
"Remember the Night Rider!!!, aiiiieeie!!!"
" see you on the road Bronze!"
and of course a favorite...
"I dont care what you do out there, as long as the paperworks clean"

any guesses? hmmm?

[mrjones]

Reminds me of a little movie made a few years back.... here are a few catch phrases:

"the last of the V-8 interceptors.."
any guesses? hmmm?

You know, I never saw "Mad Max" until AFTER I saw "The Road Warrior".

[rookie1]

$2.55 a freaking gallon for premium this morning $2.65 this afternoon................SHEES H

[rayjay]

Better grab onto your behind, its headed for $3+ real quick. We'll be at european prices before you know it....

[Breadfan]

Yes there is......drop a pi$$ load of nukes on the middle east and turn the desert sand into a sheet of plate glass. Drill through the glass and pump out the oil for free!!!! :banana:
No more Taliban, crazed terrorists, OPEC, religious wars.....and most important of all....lots of CHEAP GAS!
Haha, yeah, make the rest a big restort area, cheap gas, cheap resort area. ;)

[Breadfan]

In the end we have to realise Mother Earth has a limited supply of oil and sooner or later it's going to run out.

Bombing "them" won't change that fact one bit. If "they" are gouging us now, we'll buy less and that'll depress prices in the future, but it still won't change the basic fact that the world is running out of oil.

If you want to get the straight dope read this article (http://www.tompaine.com/articles/20050627/reaching_the_saudi_peak.php). My guess is the oil companies are starting to position themselves for a sharp decline in Saudi oil production.

I'm for America keeping all of its' oil here, in the ground, for the sake of our economy and security. Until we get ourselves weaned off petroleum we are vulnerable to the inevitable day when we can't buy it at any price from any country or take it by military means, because it isn't there!

So, I plan to dog the $h!t out of my Marauder, mod the phuk out of her, race like there's no tomorrow and generally have as much fun as I can with it because the day is gonna come when it's just gonna be a memory. So I'm gonna get lots of "nice pictures" to take with me.

:D
I can't recall the report and can't link it, but I found out there is actually about 200 years of reserves based on our current level of use. And that is assuming we never ever find any more reserves, which there are plenty of undiscovered.

Basically we won't run out of oil anytime soon, and when it becomes economically feasible (or required) we'll have the technology to lose dependence on oil or create a suitable synthetic substitute.

I'm not too worried, but $5 a gallon is a pretty steep price for gas. Consider where I live, near DC, many people commute from 50-60 miles out. So they'll do 100 miles a DAY, that's alot of money in gas. Businesses/Gov't may have to start reimbursing or subsidisign gas prices for commuters...

At the same time, V8's forever! I get 20mpg in my Mustang and 21-22mpg in the Marauder. (24 on my long trip). That's better than a number of 4cyl cars that are simply too heavy for the small engines.

[Joe Walsh]

Unfortunately, China is quickly developing a ferocious appetite for fuel and with only 1 BILLION chinese people looking to buy cars, the 'predicted' rates of consumption are way off (way too low). :(

[David Morton]

I can't recall the report and can't link it, but I found out there is actually about 200 years of reserves based on our current level of use. And that is assuming we never ever find any more reserves, which there are plenty of undiscovered.

Basically we won't run out of oil anytime soon, and when it becomes economically feasible (or required) we'll have the technology to lose dependence on oil or create a suitable synthetic substitute..."IF" (Heh, heh. Get it? IF, Bread, oh nevermind)

If you go to...

tompaine.com/articles/20050627/reaching_the_saudi_peak.php (http://www.tompaine.com/articles/20050627/reaching_the_saudi_peak.php)

...you will read how this man Simmons is a big friend of the oil companies, and has been for "decades". To quote from the article...

"Simmons is not a militant environmentalist or anti-oil partisan; he is chairman and CEO of one of the nation's leading oil-industry investment banks, Simmons & Company International. For decades, Simmons has been pouring billions of dollars into the energy business, financing the exploration and development of new oil reservoirs. In the process, he has become a friend and associate of many of the top figures in the oil industry, including George W. Bush and Dick Cheney. He has also accumulated a vast storehouse of information about the world's major oil fields, the prospects for new discoveries, and the techniques for extracting and marketing petroleum. There is virtually no figure better equipped than Simmons to assess the state of the world's oil supply. And this is why his assessment of Saudi Arabia's oil production capacity is so devastating."

Now, he says the Saudis are running out fast and that is going to be a big problem. I agree and will plan accordingly, and if you choose not to, that's alright...

...'cause it don't matter to me. :D

:lol:

[Bluerauder]

Good thing I don't buy it by the barrel. :rofl: BTW .... $61 per barrel equates to $1.45 per gallon.

[Petrograde]

Hydrogen power!

I saw something on the Science Channel about making existing gas engines run from hydrogen.

we really need to develop this technology!

[Joe Walsh]

Hydrogen power!

I saw something on the Science Channel about making existing gas engines run from hydrogen.

we really need to develop this technology!

Yeah, but will a V8 running on hydrogen sound like it's FARTING?
I'll sell my Marauder if it ever sounds like Honda! :puke:

[rayjay]

The little I know about it, its a storage problem. If you get rear ended, bang, big time!