Oil Heading for $109 a Barrel

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Bruzilla

Guest
Oil prices head towards 109 dollars

"Oil prices rose slightly on Wednesday, reaching nearly 109 dollars a barrel, as the market readied for the publication of the US government's weekly energy stockpiles report, traders said." At least we're finally getting some honest reporting about why oil prices are going higher, and not the usual BS about storms, or China, or imaginary wars, or "fears" of something. I wonder how many Americans are still drinking the energy industry's kool-aid of how it's all about supply and demand?
 
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toppick08

Guest
Oil prices head towards 109 dollars

"Oil prices rose slightly on Wednesday, reaching nearly 109 dollars a barrel, as the market readied for the publication of the US government's weekly energy stockpiles report, traders said." At least we're finally getting some honest reporting about why oil prices are going higher, and not the usual BS about storms, or China, or imaginary wars, or "fears" of something. I wonder how many Americans are still drinking the energy industry's kool-aid of how it's all about supply and demand?

Need to start new drilling here, and build more refineries, in the good ole' USA....:patriot:
 

Larry Gude

Strung Out
Yup...

Need to start new drilling here, and build more refineries, in the good ole' USA....:patriot:

...but why would anyone want to drill here, guaranteeing a steep fall in prices? Demand has not slacked. Supply is steady. There are no lines.

Environmentalists and oil companies are in bed together; neither side wants to drill here.
 

kom526

They call me ... Sarcasmo
...something like 50 plus years of ZERO imports.

Mind boggling isn't it? You wanna talk about how to even up the trade imbalance with China, there it is. The oil companies and their stockholders can still makes tons of cash and we can once again put ourselves on the road to being the economic superpower we once were. The best part is that there are no three toed narrow-mouthed, spectacled, muted lizards that the bark humpers can cream about to prevent production.
 
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Larry Gude

Strung Out
No, no, no...

Mind boggling isn't it? You wanna talk about how to even up the trade imbalance with China, there it is. The oil companies and their stockholders can still makes tons of cash and we can once again put ourselves on the road to being the economic superpower we once were. The best part is that there are no three toed narrow-mouthed, spectacled, muted lizards that the bark humpers can cream about to prevent production.

...not so. Due to our environmental laws and regulations, labor and infrastructure costs it is something like $30 a barrel to break even on domestic oil pumping vs. something like $5-10 in Saudi pre war. Exxon is making money nowadays because we are far beyond that $30 price AND they are getting imported (cheaper cost of goods) oil. If we exploit domestic oil, oil $ drops, there is no money to be made for US oil companies. As I say, big oil and big greenies are in bed together.

I mean, think about it; Exxon is making 'record' profits in total dollars, but they are only netting about 10%. They have to be up at $100 oil to make 10%. The real winners are our over seas 'pals' like Saudi, Venezuela and Iran who make money at $12.
 

kom526

They call me ... Sarcasmo
...not so. Due to our environmental laws and regulations, labor and infrastructure costs it is something like $30 a barrel to break even on domestic oil pumping vs. something like $5-10 in Saudi pre war. Exxon is making money nowadays because we are far beyond that $30 price AND they are getting imported (cheaper cost of goods) oil. If we exploit domestic oil, oil $ drops, there is no money to be made for US oil companies. As I say, big oil and big greenies are in bed together.

I mean, think about it; Exxon is making 'record' profits in total dollars, but they are only netting about 10%. They have to be up at $100 oil to make 10%. The real winners are our over seas 'pals' like Saudi, Venezuela and Iran who make money at $12.
That's why we need to export some of it. But what will happen is that forces inside the U.S. will conspire to make sure that proper production and distribution will never happen and we'll unfortunately will be left sucking at the nipple of imported oil.

Venezuela recently nationalized their oil production and I don't think they are back up to pre cluster-f**k production levels yet.
 

Larry Gude

Strung Out
Ok...

That's why we need to export some of it. But what will happen is that forces inside the U.S. will conspire to make sure that proper production and distribution will never happen and we'll unfortunately will be left sucking at the nipple of imported oil.

Venezuela recently nationalized their oil production and I don't think they are back up to pre cluster-f**k production levels yet.

...but exporting doesn't do us, we the people, any good. With the wars, China, India and our own growth, the only thing that would held price now is things settling down in the Middle East and no one there, not Saudi, not Iran, not Iraq, has any incentive for that, certainly not financial.

More production, again, is not in US oil companies, or anyone else's, interests.

2a proposed that speculation in oil be curtailed to only those who can buy it AND store it. It's a common sense solution; remove a necessity, a product not threatened by weather or crop failures, from commodity status.
 

ImnoMensa

New Member
Well Larry, perhaps big oil and the Greenies are in cahoots, but if they are certainly the politicians in washington who are constantly turnlng down drilling in ANWR and other places are also in on the deal.

We need refineries and we need to reopen some of those wells we plugged off when foreign oil got so cheap.

IMO we are getting screwed by these people and I would suppose it wont stop until we are economically dead in the water or we go to Capitol Hill with pitchforks and storm the friggin bastille.

WE need to throw out every POS incumbent on the Hill. We already know their record and it sucks. Stop being bought off by Pork and vote to get rid of these shysters.
 
B

Bruzilla

Guest
I mean, think about it; Exxon is making 'record' profits in total dollars, but they are only netting about 10%. They have to be up at $100 oil to make 10%. The real winners are our over seas 'pals' like Saudi, Venezuela and Iran who make money at $12.

Larry... defense contractors barely stay in business at 11% percent profits. Why in heaven's name do you insist on believing the patently absurd notion that energy companies are only making 10% profits?
 
B

Bruzilla

Guest
Well Larry, perhaps big oil and the Greenies are in cahoots, but if they are certainly the politicians in washington who are constantly turnlng down drilling in ANWR and other places are also in on the deal.

We need refineries and we need to reopen some of those wells we plugged off when foreign oil got so cheap.

IMO we are getting screwed by these people and I would suppose it wont stop until we are economically dead in the water or we go to Capitol Hill with pitchforks and storm the friggin bastille.

WE need to throw out every POS incumbent on the Hill. We already know their record and it sucks. Stop being bought off by Pork and vote to get rid of these shysters.

Larry is right about the enviro guys and the energy guys being in bed together, and as of right now there's no way to require the oil companies to explore more or build new refineries. I know, the oil companies say they want to, but their actions tell a different story.
 
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Bruzilla

Guest
More good reporting... Gas Prices Hit New Record, Oil Jumps

"Analysts place much of the blame for oil's rise to records well above $100 a barrel this year on speculative investors drawn to oil futures by the falling dollar. With the Federal Reserve expected to cut rates several more times this year, which will likely further weaken the dollar, oil prices may continue rising despite tepid demand." It isn't about supply and demand, or exploration or refineries... these increases are the result of speculators needing someplace they see as safe to put their money into. Being as I doubt they would do this without first checking the situation out, I would bet they are pretty confident that no one... the government, the oil companies, or anyone else is going to do anything to upset the apple cart.
 

Larry Gude

Strung Out
When I say...

Well Larry, perhaps big oil and the Greenies are in cahoots, but if they are certainly the politicians in washington who are constantly turnlng down drilling in ANWR and other places are also in on the deal.

We need refineries and we need to reopen some of those wells we plugged off when foreign oil got so cheap.

IMO we are getting screwed by these people and I would suppose it wont stop until we are economically dead in the water or we go to Capitol Hill with pitchforks and storm the friggin bastille.

WE need to throw out every POS incumbent on the Hill. We already know their record and it sucks. Stop being bought off by Pork and vote to get rid of these shysters.


...corporations and interest groups are for something, such as not drilling for oil domestically, I mean to include their politicians, which should go without saying.

Look an ANWR; an erstwhile sovereign state is forbidden to exploit it's own resource! It is said that there is much natural gas in the US and close off shore and there are no 'accidents' with natural gas; it evaporates. The problem from the green view, the desire to prohibit this is the nasty habit of natural gas deposits being somewhat hand in hand with oil, so, exploiting the gas exposes a given area to inevitable oil exploitation.

I mean, look how great the scope of our energy picture; green people are terrified of drilling for oil domestically or exploiting coal or nuclear or natural gas. They are all for the next logical step; foreign dependence.

Next up, energy companies. Oil and gas and coal people have no interest for nuclear to be developed. The domestic coal people are happy; we use it. The oil companies are happy as long as they are free to import. So, there is a second wall against domestic oil and gas and, obviously, nuclear.

Next up, you and me. Some of us are all aboard with the greens and the 'do something' attitude about man made global warming. Some of us are pro business and don't like to see mandates as to 'eco' friendly anything as we see that as fascism and socialism and the inherent inefficiencies and assault on free markets.

That puts this huge wall against domestic reliance and nuclear and limits on imports. So, everything we do points towards a national interest in foreign oil. Tough to man the barricades when, at the end of the day, we're only fighting ourselves.

So, we have troops dying for oil in Iraq while we're making our enemies rich and providing artificial impetus for solutions, green technologies, in search of a problem that doesn't exist; actual energy shortages in current resources.

Nothing is going to stop China and India from economic expansion, so, fossil WILL be used regardless of what we want.

We will spend enormous sums of money building alternatives that can not, absent the rest of the world following suit, do a damn thing about global warming even in Al's sweetest dreams and greatest distortions of science.

And here sits all these domestic resources as we provide people like Iran and Saudi and Venezuela the money to do, well, whatever they please.

Pretty crazy, huh?
 

Larry Gude

Strung Out
Well...

Larry... defense contractors barely stay in business at 11% percent profits. Why in heaven's name do you insist on believing the patently absurd notion that energy companies are only making 10% profits?

...let's see;

Exxon posts quarterly, annual profit records - Feb. 1, 2008

Analysts were looking for the company to report quarterly profit of $10.36 billion on revenue of $114.9 billion, according to earnings tracker Thomson Financial.

Your right; it's a little less than 9%.
 

ImnoMensa

New Member
I am reading about oil companies investing in Green technology and alternative energy sources.

I keep thinking , they are spending money in alternative energy so that if a good alternative is found they will have us by the balls with that they same way they have us by the balls now.
 

Larry Gude

Strung Out
Sound...

I am reading about oil companies investing in Green technology and alternative energy sources.

I keep thinking , they are spending money in alternative energy so that if a good alternative is found they will have us by the balls with that they same way they have us by the balls now.

...business practice, don't you think?

Look, all of this is a result of the big mergers the last decade or so coupled with perhaps too open policies to foreign companies. A smaller, yet still huge azz corporation is still looking for an edge, a new refinery, gauge the political winds, etc. A conglomerate like Exxon/Mobile is more interested in steering legislation as a pseudo agency.
 
...corporations and interest groups are for something, such as not drilling for oil domestically, I mean to include their politicians, which should go without saying.

Look an ANWR; an erstwhile sovereign state is forbidden to exploit it's own resource! It is said that there is much natural gas in the US and close off shore and there are no 'accidents' with natural gas; it evaporates. The problem from the green view, the desire to prohibit this is the nasty habit of natural gas deposits being somewhat hand in hand with oil, so, exploiting the gas exposes a given area to inevitable oil exploitation.

I mean, look how great the scope of our energy picture; green people are terrified of drilling for oil domestically or exploiting coal or nuclear or natural gas. They are all for the next logical step; foreign dependence.

Next up, energy companies. Oil and gas and coal people have no interest for nuclear to be developed. The domestic coal people are happy; we use it. The oil companies are happy as long as they are free to import. So, there is a second wall against domestic oil and gas and, obviously, nuclear.

Next up, you and me. Some of us are all aboard with the greens and the 'do something' attitude about man made global warming. Some of us are pro business and don't like to see mandates as to 'eco' friendly anything as we see that as fascism and socialism and the inherent inefficiencies and assault on free markets.

That puts this huge wall against domestic reliance and nuclear and limits on imports. So, everything we do points towards a national interest in foreign oil. Tough to man the barricades when, at the end of the day, we're only fighting ourselves.

So, we have troops dying for oil in Iraq while we're making our enemies rich and providing artificial impetus for solutions, green technologies, in search of a problem that doesn't exist; actual energy shortages in current resources.

Nothing is going to stop China and India from economic expansion, so, fossil WILL be used regardless of what we want.

We will spend enormous sums of money building alternatives that can not, absent the rest of the world following suit, do a damn thing about global warming even in Al's sweetest dreams and greatest distortions of science.

And here sits all these domestic resources as we provide people like Iran and Saudi and Venezuela the money to do, well, whatever they please.
Pretty crazy, huh?

I don't know. What happens after we buy and use up all of their oil and the only reserves left are under USA control?
 
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