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

  1. #451
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    Given that we passed peak oil in this country in 1971, what other option do you see? 40 years of mismanagement of our energy resources is finally catching up with us.

    Should have listened to President Carter.
    Yeah, 40 years of Carter's "morasse" would have made this country great .......... The people of this country gave their opinion on Carter's policies and a goodbye kick in the ass in 1980.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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

    More evidence to prove my point that the oil price rise is unjustified price gouging.

    I have heard for days that the situation of uncertainty in Libya is why the fear and cause for the prices and now I find that we get our oil from the following sources.
    1. Canada
    2. Mexico
    3. Saudi Arabia
    4. Venezuela
    5. Nigeria
    6. Angola
    7. Iraq
    8. Algeria
    9. United Kingdom
    10. Brazil

    Please note tha Libya is not on the list at all.

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

    Quote Originally Posted by Gill View Post
    Let me refresh your memory loss........



    Look familiar ????

    I don't see anything about "peak oil" there..........do you???

    I will wait for your apology, but based on your history, I won't be holding my breath.
    The 1. Gulf of Mexico - 45 billion barrels
    2. Federally controlled offshore continental shelf - 44 billion barrels


    numbers are pure estimates. Undiscovered means they have not found them, and they are just pure guess's. The oil may be there or it may not. Much like the oil estimates for the artic ocean
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Councilman View Post
    More evidence to prove my point that the oil price rise is unjustified price gouging.

    I have heard for days that the situation of uncertainty in Libya is why the fear and cause for the prices and now I find that we get our oil from the following sources.
    1. Canada
    2. Mexico
    3. Saudi Arabia
    4. Venezuela
    5. Nigeria
    6. Angola
    7. Iraq
    8. Algeria
    9. United Kingdom
    10. Brazil

    Please note tha Libya is not on the list at all.
    You do realize that oil is sold as a world wide commodity, that a shortage of oil in say europe will raise prices in the US. Unlike electricity oil can be transported world wide. So yes a shortage of oil (more to the point a limited supply) will raise the cost of oil world wide.


    Re a previous post regarding the Bakkens oil costing $16 or so per barrel. That might be the price to extract it and process it. That is not the price it will be sold at
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  5. #455
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Councilman View Post
    More evidence to prove my point that the oil price rise is unjustified price gouging.

    I have heard for days that the situation of uncertainty in Libya is why the fear and cause for the prices and now I find that we get our oil from the following sources.
    1. Canada
    2. Mexico
    3. Saudi Arabia
    4. Venezuela
    5. Nigeria
    6. Angola
    7. Iraq
    8. Algeria
    9. United Kingdom
    10. Brazil

    Please note tha Libya is not on the list at all.
    The U.S. is not completely insulated from events in Libya, even if its purchases of Libyan crude oil are relatively insignificant. The loss of supply from reduced Libyan production has an impact on some oil consumers and those consumers will seek to make up the loss from alternate suppliers, most or all of whom are on the list of top 10 U.S. suppliers. Hence, supply relative to demand will be lower and a supply shock will impact the U.S., too. In addition, Venezuela supports Col. Gadhafi, so there is some element of uncertainty there. Expectations (including a speculative element concerning the broader Middle East, etc.) are also amplifying the impact of a supply shock resulting from Libya's reduced production. Whether or not Saudi Arabia or the combination of other producers has made up for the temporary partial loss of Libyan supply remains to be seen. If so, the price of crude would begin to decline once evidence for that supply-side compensation is reflected in forthcoming oil production statistics.
    Last edited by donsutherland1; 03-07-11 at 08:00 PM.

  6. #456
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    Catawba's Avatar
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Gill View Post
    Let me refresh your memory loss........

    Quote Originally Posted by Catawba View Post
    Are you just now noticing that we passed peak oil in this country in 1971? Why do you think they are trying to drill at 2000 ft under the sea?
    Quote Originally Posted by Catawba View Post
    I asked to make a point. I am aware we passed peak oil in this country in 1971. Apparently, some are not.

    Look familiar ????
    Yes, of course it was my discussion of peak oil before you interjected yourself with your attempt to change the subject.

    I don't see anything about "peak oil" there..........do you???
    Yes, I do and I have even placed bold emphasis so you can see it too.

    I will wait for your apology, but based on your history, I won't be holding my breath
    Now why should I be apologizing to you?
    Last edited by Catawba; 03-07-11 at 07:47 PM.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  7. #457
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    You are just going to have to wrap your head around the fact that the days of cheap gas are gone.
    they sure are

    Libya crisis sends U.S. gas prices up 33 cents in two weeks - CNN.com

    and it's not just libya, not just the mideast

    prices are up 82 cents in just over a year

    it's a lot of things

    the esteemed emeritus above has already pointed out a number of them a number of times, read him

    stay up

  8. #458
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Gill View Post
    Yeah, 40 years of Carter's "morasse" would have made this country great .......... The people of this country gave their opinion on Carter's policies and a goodbye kick in the ass in 1980.
    And are whining about the resulting gas prices 40 years after we passed peak oil in this country. You made your bed now lie in it.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by Councilman View Post
    More evidence to prove my point that the oil price rise is unjustified price gouging.

    I have heard for days that the situation of uncertainty in Libya is why the fear and cause for the prices and now I find that we get our oil from the following sources.
    1. Canada
    2. Mexico
    3. Saudi Arabia
    4. Venezuela
    5. Nigeria
    6. Angola
    7. Iraq
    8. Algeria
    9. United Kingdom
    10. Brazil

    Please note tha Libya is not on the list at all.
    Peak oil is a bitch isn't it?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  10. #460
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    You made your bed now lie in it.
    another winning slogan from the class hatred junta

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