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Thread: Oil rises above $90 amid US crude supply drop

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by obvious Child View Post
    So you are saying the answer is more government?
    Don't put words in my mouth please. The answer is to keep domestic oil here at home, call it what you want. If the President would only commit to CNG vehicles for the government..... We have more than enough Natural Gas to last 100 years while we work on something else without destroying the economy in the process.
    Last edited by Prof. Peabody; 07-01-11 at 03:07 AM.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Prof. Peabody View Post
    Don't put words in my mouth please.
    But that is percisely what you are saying. We need more government regulation dictating where oil companies can sell their oil. Just because you never explicitly stated it does not mean your argument does not mean it. And don't get all angry at me for taking your argument to its logical end. Be angry at the person who made that argument: You.

    The answer is to keep domestic oil here at home, call it what you want.
    It is more government. Whether you want to admit it or not is irrelevant.

    If the President would only commit to CNG vehicles for the government..... We have more than enough Natural Gas to last 100 years while we work on something else without destroying the economy in the process.
    Except that CNG still props up regimes in Tehran and Caracas. Not to mention seriously stifles democratic reform in the FSU states.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    It hasn't doubled in price. But it has gone up despite the fact that the US is producing more oil than in the last decade. Why is that do you think?
    it has doubled in price .. in december of 08 oil was under 40 dollars a barrel

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by katsung47 View Post
    Both are not nuts. They are puppets. They work for the real rulers of this country. Five years ago, they know the problem was caused by speculators. They dare not to touch those speculators. They know the financial crisis was cuased by those big banks and financial firms. They dare not to touch it either. Now the "too big to fail"become even bigger after bail out.

    Koch Hoards Oil, Profits on Speculation
    Sunday, April 17, 2011

    Rampant oil speculation is fueling higher gas prices at the pump, according to ThinkProgress. Big banks and companies like Koch Industries employ a "contango" strategy by buying up oil and storing it to lock in the oil for sale later at a set price. In December 2008, Koch leased four supertankers "to hold oil in the U.S. Gulf Coast to take advantage of rising prices in the months ahead," Fortune magazine's Jon Birger reported. This could have raised gas prices by "anywhere from 20 to 40 cents a gallon."

    Koch Hoards Oil, Profits on Speculation | Drudge Retort


    What a crock of bull this is .. . according to your article the Koch brothers leased 4 tankers … full of oil .. to store … and that raised prices by 20 to 40 cents per galllon ?

    It never ceases to amaze me how some people will post pure bullchit .. then defend it as if it were right when all logic, that should be seen immediately, says different.

    hopefully you realize that oil is a global commodity, I really have to wonder because of your post. So here is a site that will clear it up for you.

    https://www.cia.gov/library/publicat...r/2175rank.htm

    According to this site .. the top 10 counties importing oil, import 45 million barrels a day or 1.3 billion barrels a month …

    The koch brothers rented 4 tankers .. which on an average hold 2 million barrels or the koch brothers were hoarding 8 million barrels of oil or about 6 tenths of 1% of oil imported by just the top ten countries each month. Yet according to your posted information we are to believe that this paltry 8 million barrels was capable of rising the price of gas by 20 to 40 cents ??

    lets look at this .. in december of 08 gas prices were around $1.70 a gallon .. a 20 cent increase would be about 12% making a 40 cent increase 24%

    So according to you and your post the koch brothers controlled 6 /10 th of 1% of the oil being sold to the top 10 countries thus making them capable of rising prices by an average of 18%??

    To top this off, if you care to check .. the price of oil remained stable from december 08 until april of 09, for at least that period of time there investment of 320 million dollars did nothing but lose money, as I'm pretty sure those 4 tankers were still being leased.

    Personally I think this just points out again, why there are so few liberals in business.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by obvious Child View Post
    So we should nationalize the oil industry? Or at least bar them from exporting?

    Do you have any concept of just how internally contradictory your beliefs are?
    So you think the same as usual is working. Maybe Obama should actually talk to big oil and work on a solution.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    It hasn't doubled in price. But it has gone up despite the fact that the US is producing more oil than in the last decade. Why is that do you think?
    Gas did double

    Gasoline up 100% under Obama - Washington Times

    Feeling pain at the pump? Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is $3.58. The lowest average price in the continental United States is $3.31 in Tulsa Oklahoma, the highest is $4.14 in Santa Barbara, CA. Four-dollar-a-gallon gas has arrived on average throughout California, and a number of other states are headed in that direction.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    Even lower consumption will be required to lower prices. As you article concluded, "Of course, our decline in use will be more than offset by rapidly growing demand in China, India, the Middle East and Africa, but we’re definitely entering a world — where the U.S. is starting to see beyond gas, which is a HUGE step up."

    We have an answer it is not being implemented.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by obvious Child View Post
    But that is percisely what you are saying. We need more government regulation dictating where oil companies can sell their oil. Just because you never explicitly stated it does not mean your argument does not mean it. And don't get all angry at me for taking your argument to its logical end. Be angry at the person who made that argument: You.
    You mean that's your opinion of what I'm saying, convoluted as it may be. Their oil? If it's in the ground on Government land it's our oil. They either agree to sell it here or they don't get a lease to drill. What's so hard about that? Obama released just 30 million barrels from the strategic reserve and the price of gasoline dropped 20 cents a gallon where I live.

    Quote Originally Posted by obvious Child View Post
    It is more government. Whether you want to admit it or not is irrelevant.
    I have no clue what point you trying to make.

    Quote Originally Posted by obvious Child View Post
    Except that CNG still props up regimes in Tehran and Caracas. Not to mention seriously stifles democratic reform in the FSU states.
    Why is that? There is enough Natural Gas right here in the United States, we don't need to buy it anywhere else.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by The Barbarian View Post
    it has doubled in price .. in december of 08 oil was under 40 dollars a barrel
    Quote Originally Posted by ptif219 View Post
    Gas did double

    Gasoline up 100% under Obama - Washington Times

    Feeling pain at the pump? Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is $3.58. The lowest average price in the continental United States is $3.31 in Tulsa Oklahoma, the highest is $4.14 in Santa Barbara, CA. Four-dollar-a-gallon gas has arrived on average throughout California, and a number of other states are headed in that direction.


    World oil prices doubled doubled despite the fact that the rate of US oil production during Obama's administration increased to its highest level in a decade.

    Such is life in an oil based economy approaching peak oil.



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    Last edited by Catawba; 07-05-11 at 07:10 PM.
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by ptif219 View Post
    Gas did double

    Gasoline up 100% under Obama - Washington Times

    Feeling pain at the pump? Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is $3.58. The lowest average price in the continental United States is $3.31 in Tulsa Oklahoma, the highest is $4.14 in Santa Barbara, CA. Four-dollar-a-gallon gas has arrived on average throughout California, and a number of other states are headed in that direction.
    after the test run a few years back, it appears big oil and their purchased speculators have found the new "sweet spot" in consumer pockets.
    Gas Price Historical Price Charts - GasBuddy.com

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