$200 Per Barrel Oil????

We've (USA) stopped drilling, we have stopped exploring for new sources, even though we know that it's there. According to federal government estimates, there is enough oil in the domestic areas, Gulf of Mexico and off the coasts and Alaska, 112 billion barrels. There's enough American oil we could go get, 112 billion barrels, which would be enough to power more than 60 million cars for 60 years.

If these traders have oil going for 200 a barrell what do you think is going to happen? Fuel will soar! Jet fuel $15 gallon, car fuel 10 bucks a gallon, People will stop traveling, spending on vacations, going out to eat, going to events. There will be a threashold that will make the traders lower that price!. It is up to us on how much we are not going to pay for gas.

When I first started driving 1976 i think gas was 40 to 50 ish cents(foggy memory) then it went up to like 90 cents. It fell again.
 
CHEVRON FOUND A FEW MONTHS BACK THE BIGGEST OIL RESERVE EVER (SUPPOSLY) IN THE GULF OF MEXICO.. EPA WON'T LET THEM DRILL FOR IT, & SAME IN ALASKS.. BUT EVEN IF WE DID DRILL FOR IT NOW, IT WOULDN'T MAKE A DIFFERENCE IN TODAY'S ECONOMY CAUSE IT WOULD TAKE 5 TO 10 YEARS FOR IT TO REACH THE PUMPS AFTER THE DRILLING AND REFINING PROCESS.. I THINK IM GOING TO START INVESTING INTO BICYCLES!!! lol
 
Cheer up it's $18.00 a gallon in Aruba

which is the size of Hartford :eek:

You probably can use a moped from end to end all year long in aruba.

try driving a moped or motorcycle with our crappy weather here in the northeast.

I am buying my friends 1990 nissan sentra. He has owned it for 17 years & kept it in fantastic shape. 1k to buy the nissan. a motorcycle would cost me $1k but only use 5 months max.

I am mothballing my land yacht oldsmobubble to drivway duty till the gas prices come back down via market forces.
 
which is the size of Hartford :eek:

You probably can use a moped from end to end all year long in aruba.

try driving a moped or motorcycle with our crappy weather here in the northeast.

I am buying my friends 1990 nissan sentra. He has owned it for 17 years & kept it in fantastic shape. 1k to buy the nissan. a motorcycle would cost me $1k but only use 5 months max.

I am mothballing my land yacht oldsmobubble to drivway duty till the gas prices come back down via market forces.
Not holding your breath on that, I hope. Goes up a lot, comes down a little. I personally don't see it coming down anything substantial in the immediate to near future. Everything is going up proportionately.
 
China is coming into their Industrial Revolution and they are demanding oil (and steel etc...) as well. I heard that the global oil supply had already peaked so we are now on a decline with demand far outweighing supply, so its only going to get worse.

Plus, Oil is priced in Dollars, coupled with our Dollar losing alot of purchasing power; severely devalued due to our overwhelming national debt (which China etc... holds alot of) and nothing to back up the dollar (no gold standard). Thats why other countries can buy gas cheaper with their currency since their currency is stronger than the dollar. The Fed reserve is the paper monopoly money maker. Circulating more worthless paper money than what the Reserve holds in assets to back it up is never a good thing. Why do you think there is inflation? Never happened when we were on the gold standard.
 
Supply and demand. If gas was $5.00 a gallon people will still fill there cars up. It will just cost more. They have everyone by the balls.

You NEED it to get back and forth to work, grocery store, bank, etc... It won't be that long before gas will be that high. It will happen in all of our lifetimes.

I think Alaska is beautiful but where do you draw the line with oil vs. nature?
 
What's also driving the price up is the speculators. They can't make big margins in the stock market so now their into oil $20-$30 is their add
Then the BS about not enough capacity first time there is a hicup they fuel the fire sort to speak
and we can't add refineries because no one wan't one in their back yard
yet those same tree hugger drive gasoline cars:mad:
 
were just being screwed by our political leaders, these oil companies are posting record profits, and i do mean record profits Exxon Mobil - 1st qtr profits were ALMOST 11 BILLION THATS 5 MILLION AN HOUR:eek:
SHELL only reported 7.8 BILLION in 1st qtr profitslet's not forget that our elected officials are shirking their responsibility to take obvious steps that will ease the crisis. the goverment could also stop buying oil for the federal Strategic Petroleum Reserve, which is at record high levels above 700 million barrels, they pay for this stright from taxpayers pockets . start selling a fraction of the reserve back into the market. that will help.yet they still try to justify the high prices were all paying! :mad: , we'll see oil prices go down when we elect political leaders that are'nt funded in part by big oil, everyone of the presidential candidates
have contributions from oil companies

John McCain ***** Hilary clinton ***** Barack Obama
Republican ***** Democrat ***** Democrat
$283,285 ***** $276,150 ***** $157,390


even the What's known as America's First Family of Oil, the Rockefellers, wants Exxon Mobil, the oil giant change it's ways. guys were getting screwed over bigtime, and relief(?) is only going to come when we elect a leader who will not only fine them for taking advantage of it's consumers but for making false statements under oath, I would love a leader who will go after them financially and crimminally. but i know i'm only dreaming. most politicians sell out , it would be nice to see just one who really has the public's intrest in mind. it would be nice to see some oil executives face jail time for what they are doing to us " robbing the public "
 
This is a great post. And I believe he's 100% correct. Political Leaders are just allowing the big Oil Execs to basically "Rob Us"

It's just a travesty.


were just being screwed by our political leaders, these oil companies are posting record profits, and i do mean record profits Exxon Mobil - 1st qtr profits were ALMOST 11 BILLION THATS 5 MILLION AN HOUR:eek:
SHELL only reported 7.8 BILLION in 1st qtr profitslet's not forget that our elected officials are shirking their responsibility to take obvious steps that will ease the crisis. the goverment could also stop buying oil for the federal Strategic Petroleum Reserve, which is at record high levels above 700 million barrels, they pay for this stright from taxpayers pockets . start selling a fraction of the reserve back into the market. that will help.yet they still try to justify the high prices were all paying! :mad: , we'll see oil prices go down when we elect political leaders that are'nt funded in part by big oil, everyone of the presidential candidates
have contributions from oil companies

John McCain ***** Hilary clinton ***** Barack Obama
Republican ***** Democrat ***** Democrat
$283,285 ***** $276,150 ***** $157,390


even the What's known as America's First Family of Oil, the Rockefellers, wants Exxon Mobil, the oil giant change it's ways. guys were getting screwed over bigtime, and relief(?) is only going to come when we elect a leader who will not only fine them for taking advantage of it's consumers but for making false statements under oath, I would love a leader who will go after them financially and crimminally. but i know i'm only dreaming. most politicians sell out , it would be nice to see just one who really has the public's intrest in mind. it would be nice to see some oil executives face jail time for what they are doing to us " robbing the public "
 
1.) We need to kill Chavez immediately. YES!
2.) We need to benefit from Iraq and reap the rewards of all our Servicemembers- both who died and are serving, by just taking as much oil as we possibly can. Put in a pipeline and fill oil tankers, starting tomorrow!
3.) We need to put a maximum amount that gas prices and oil can possibly go up and be firm about it. No exceptions!!
4.) We need to drill whereever, and whatever we have to to increase our oil supply and build more processing stations. Enough already with all this treehugging Bullzsh!t. Tree huggers need to all become Amish if they're so serious about being so conservative. You can't have both, and no double standards!


:biggrin:
 
were just being screwed by our political leaders, these oil companies are posting record profits, and i do mean record profits Exxon Mobil - 1st qtr profits were ALMOST 11 BILLION THATS 5 MILLION AN HOUR:eek:
SHELL only reported 7.8 BILLION in 1st qtr profitslet's not forget that our elected officials are shirking their responsibility to take obvious steps that will ease the crisis. the goverment could also stop buying oil for the federal Strategic Petroleum Reserve, which is at record high levels above 700 million barrels, they pay for this stright from taxpayers pockets . start selling a fraction of the reserve back into the market. that will help.yet they still try to justify the high prices were all paying! :mad: , we'll see oil prices go down when we elect political leaders that are'nt funded in part by big oil, everyone of the presidential candidates
have contributions from oil companies

John McCain ***** Hilary clinton ***** Barack Obama
Republican ***** Democrat ***** Democrat
$283,285 ***** $276,150 ***** $157,390


even the What's known as America's First Family of Oil, the Rockefellers, wants Exxon Mobil, the oil giant change it's ways. guys were getting screwed over bigtime, and relief(?) is only going to come when we elect a leader who will not only fine them for taking advantage of it's consumers but for making false statements under oath, I would love a leader who will go after them financially and crimminally. but i know i'm only dreaming. most politicians sell out , it would be nice to see just one who really has the public's intrest in mind. it would be nice to see some oil executives face jail time for what they are doing to us " robbing the public "

BINGO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THANK YOU!!!!!!!! That's what it is people! All of the evils let this happen to YOU!
 
Speculators and some big name investment firms believe oil will bust and be down below $70.00/barrel by late 2009 early 2010.

Hope they are right.

Mikey
 
Not holding your breath on that, I hope. Goes up a lot, comes down a little. I personally don't see it coming down anything substantial in the immediate to near future. Everything is going up proportionately.


It won't come down if "HillBilly" Clinton or "57 states Quickdraw Obama" gets in office.
You can take to the bank that it will go up.

We keep buying from OPEC like junkies, when we can get our own supply locally grown!
 
Commodity Traders

That's a bunch that could use a good kick in the nuts from the people they are hosing.

Goldman Sachs firm was quoted in a story about a week ago that we (public) should be thanking them for high prices. Yes thanking THEM. It went on to say that since prices have gone higher, more research and exploration have been done, more research into more fuel effictent cars and conservation had been done and we can thank the speculator because of it.

They also said the same thing about corn meaning the demand for "leveraged investment" into corn was there NOT so much the demand for corn. What this means is there was a huge appetite for large index funds (could be your 401K) to buy a % of commodities. This has jacked up all prices.

As far as oil, a few firms are starting to feel oil is a little top heavy and here is why:

1. China. Mostly Industrial demand and if their economy slows (after olympics) this could stall a little.
2. Large finds in North America and Brazil (one was 400 bil bbls possibly????)
3. Conservation (high prices cure high prices)

However they could be all wrong and it hits $200. In that case you can jump on the band wagon and buy your own futures or option contract now. Wish I would have done that back in the fall instead of buying my TR. Oh well those 1/2 dozen GNX's will have to wait. :eek: Anyways I hope it does not get to $200. If so I am on board for the ride :biggrin:
 
1.) We need to kill Chavez immediately. YES!
2.) We need to benefit from Iraq and reap the rewards of all our Servicemembers- both who died and are serving, by just taking as much oil as we possibly can. Put in a pipeline and fill oil tankers, starting tomorrow!
3.) We need to put a maximum amount that gas prices and oil can possibly go up and be firm about it. No exceptions!!
4.) We need to drill whereever, and whatever we have to to increase our oil supply and build more processing stations. Enough already with all this treehugging Bullzsh!t. Tree huggers need to all become Amish if they're so serious about being so conservative. You can't have both, and no double standards!


:biggrin:

You have my vote for president. Our country is going down the $hitter right before us:mad:
 
Goldman- $141 crude in 2008

Subject: Goldman- $141 crude in 2008
>
> Goldman Sachs, the most active investment bank in energy markets, on
> Friday sharply raised its forecast for oil prices in the second half
> of this year, citing tight supply. The bank expects U.S. crude to
> average $141 a barrel in the second half of 2008, up from a previous
> projection of $107, it said. [GS </id/15837290/?q=GS> also forecasts
> prices will rise further next year to average $148. "Tight supply
> conditions continue to be the primary catalyst for higher crude
> prices," the bank said in a research note. "The near-term outlook for
> oil prices continues to be bullish." The Goldman forecast helped send
> crude prices to a record high of $127.82 on Friday, analysts said. The
> 2009 estimate is the most bullish among more than 30 banks regularly
> polled by Reuters. Goldman, one of the first to point to triple-digit
> oil more than two years ago -- a once unthinkable level -- earlier
> this month said oil could shoot up to $200 within the next two years.
> Its note on Friday said that despite the advent of alternative sources
> such as biofuels, oil supply growth has slowed to 1 percent from about
> 1.8 percent in 2005 and less than the bank's forecast for 2008 world
> GDP growth of 3.8 percent. "Given this imbalance, long-term oil prices
> will need to continue to rise," Goldman said. Goldman's view that
> prices are rising in response to tight supply contrasts with others in
> the industry that oil's rally is being driven by factors beyond supply
> and demand fundamentals. The Organization of the Petroleum Exporting
> Countries, source of two in every five barrels of oil, has rebuffed
> calls from the U.S. and other industrialised countries for more oil,
> saying supply is sufficient.


Dont shoot the messenger.
 
It won't come down if "HillBilly" Clinton or "57 states Quickdraw Obama" gets in office.
You can take to the bank that it will go up.

We keep buying from OPEC like junkies, when we can get our own supply locally grown!

Who's in charge now?And look at where the price is going now,thur the roof

ED
 
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