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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 The Prof View Post
    Bush said the same thing when he had record oil prices. It might be true. Meat prices are high too. Obama probably can't do anything about that either.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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

    Quote Originally Posted by The Prof View Post
    suggestions? ideas?
    blaming the leaders won't bring oil prices down...
    Carter displayed real leadership on energy issues in his day, and the GOP tore up his plan as soon as they could.
    Same thing could happen today....

    I look forward to the debates coming up in the next election cycle. I bet the same stupid rhetoric will be coming from both sides.
    Politicians should be looking to actual scientists for ideas....
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    Re: Oil rises above $90 amid US crude supply drop


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

    Gas prices in the USA are still low compared to many other countries....
    the truly poor don't complain much since they don't have cars.
    The rich don't care what it costs.
    The middle class are the ones complaining, but will they carpool? nope.....
    The HOV lanes in the Phoenix area are rarely crowded. If they could catch and ticket all those driving in HOV lanes illegaly, they could make a substantial dent in the states deficit....
    Oracle of Utah
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by j-mac View Post
    Well, bravo for you! That must make you feel very superior to everyone around you eh?

    Listen, this is America, if you want to force me to ride a bus, or rely on someone else's punctuality, and motivation to get to work on time then you can. I like many others out there don't punch a time clock at some drone job where Johnny, Billy, and Jim from the block all work at the same place, and same time.

    I deliver bread, and milk to warehouses for distribution 500 to 600 miles one way, and leave, or get to work, as well as get back at different hours of the day/night. Not to mention what this is doing to the prices of those goods that you HAVE TO BUY. I am truly happy for you that you can afford it, and that you worked in a time when the American dream was such that these things were a reality for you. Times have changed.



    And who the hell do you think you are to judge, or tell me what I should, can, or will drive? This is a self imposed shortage of petroleum that we could solve very easily by opening up the permitting process, and obtaining our own resources instead of giving a country like Brazil billions to drill it, and sell it back to us.

    j-mac
    you should read your posts a few times before submitting....
    Oracle of Utah
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    Re: Oil rises above $90 amid US crude supply drop

    Wait, did you say MORE tax on gas? I don't know where you're pumping from, but the gas tax here in North Carolina is already $0.3055. Sorry if I don't exactly agree with this idea.

    What we should do is lessen the EPA requirements on different blends. Prices would drop immediately.

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

    Quote Originally Posted by UtahBill View Post
    Gas prices in the USA are still low compared to many other countries....
    the truly poor don't complain much since they don't have cars.
    The rich don't care what it costs.
    The middle class are the ones complaining, but will they carpool?
    such a cavalier dismissiveness, it appears the people's advocatate doesn't know em

    in other words, more power to you

    in just the last few months:

    Oil Jumps 2% in a Day - Bloomberg

    gold, oil soar as inflation fears mount

    Oil Rises to 30-Month High - Bloomberg

    Oil climbs to highest since 2008 - Yahoo! Finance

    Two-thirds of oil and gas leases in Gulf inactive - Yahoo! News

    Economist warns of double dip recession if oil hits $140

    Post Carbon - Obama administration reimposes offshore oil drilling ban

    Obama bans eastern Gulf drilling for 7 years - CNN

    Judge rules against White House on drilling ban | Reuters

    Judge blocks deepwater drilling ban; Obama to appeal | McClatchy

    Obama Will Appeal Judge's Ruling Against Drilling Moratorium

    Bill Clinton: Drilling delays 'ridiculous' - Darren Goode - POLITICO.com

    Food and gas prices on the rise

    Gas Prices Show 7th Consecutive Weekly Increase, but It's Not Just About the Middle East - ABC News

    Oil's surge felt by drivers, fliers and shoppers - Yahoo! Finance

    gasoline prices keep rising - Yahoo! News

    March consumer sentiment lowest in over a year | Reuters

    Gas prices up 33 cents in two weeks - CNN.com

    AAA: gas nat'l avg $3.75

    Gasoline up 100% under Obama - Washington Times

    Obama says little short-term help for gas prices

    Wholesale prices up 1.6 pct. on steep rise in food - Yahoo! Finance

    Food Commodities Rise Seen Swamping Consumers With Inflation - Bloomberg

    Get ready to be 'swamped' by food inflation

    Food Inflation Hidden in Smaller Bags

    Corn prices at highest level since summer '08 - Boston.com

    Corn Prices Jump to 33-Month High on Shrinking U.S. Supply - Bloomberg

    Push for green biofuels 'has put food prices up by massive 75%

    Clinton: Too much ethanol could lead to food riots - Yahoo! News

    Global food scare widens

    World Bank: Food prices at "dangerous levels" - Yahoo! News

    World food prices hit record high: UN agency

    Clothing Prices to Rise 10% by Spring

    Inflation Rate Rises: Food, Clothing And Alcohol | Business | Sky News

    Bernanke says commodity prices driving up inflation

    High oil and commodity prices likely to push up inflation | Business | The Guardian

    Consumer morale stagnates in March | Reuters

    Consumer confidence falls sharply in March - MarketWatch

    Fed Buying Bonds by Trillions

    Fed to Buy $600 Billion of Treasurys - WSJ.com

    Fed members raise specter of higher interest rates - Forbes.com

    Fed Likely to Raise Rates

    Fed Official: Funds rate should hit 2.5% in year - MarketWatch

    Minneapolis Fed Sees Higher Rates by Year End - WSJ.com

    Toxic Dollar

    Traders Short Dollar as Currency Loses Attraction

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

    President Obama is not the only President to use that excuse. Almost certainly, he won't be the last. Since the near-oil crisis of 1967 and the twin crises of the 1970s, the U.S. had ample time to launch an ambitious effort to reduce its dependency on oil. Instead, whenever the price declined, the crisis was forgotten. The 2008 oil price spike was also largely forgotten when the price of crude fell to near $33/barrel during the financial crisis. Technically, little can be done today, but that is only due to a bipartisan lack of foresight that has continued to the current administration and, if the past is representative, will likely continue beyond it. Until the price of crude reaches painful levels and remains there (persistent demand imbalance), it is not likely that the U.S. will become serious about addressing its energy-related vulnerabilities.

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

    until the price of crude reaches painful levels and remains there...

    hardly a solution

    meanwhile: Senate Democrats urge White House to shelve cap & trade - National Environmental Headlines | Examiner.com

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

    Quote Originally Posted by UtahBill View Post
    suggestions? ideas?
    blaming the leaders won't bring oil prices down...
    Carter displayed real leadership on energy issues in his day, and the GOP tore up his plan as soon as they could.
    Same thing could happen today....

    I look forward to the debates coming up in the next election cycle. I bet the same stupid rhetoric will be coming from both sides.
    Politicians should be looking to actual scientists for ideas....
    Not sure if you really are asking for potential solutions, but I will give it a go just in case. Let's first start with why corporations are reluctant to make huge long term investments in alternative energy. Oil is a commodity like corn or cottn etc. In the U.S. we have subsidies for farmers putting a floor on the price they will receive when they grow their crops. So they have some certainty within limits on how little they can get paid. It is still a tough business as it relies on all sorts of unknowable things like weather etc, but they do have that floor.

    Oil on the other hand has been left to the open market. A market controlled largely by countries with relatively small populations and huge supplies of this stuff. So for various reasons the price may skyrocket for a while as it did in 2007/8 can't remember to 147 a barrel then plumment to 35 a barrel several months later. No reasonable corporation will spend tens of billions on an investment that may take 5-10 years to complete with that set of variables.

    All that being said, unless the congress can decide to put a floor on oil prices I can't see how private funding can fix this problem. Another way to put a floor under oil, is to put a heavy tax on it like they do in Europe. Nor surprising that they drive smaller cars, use more nuclear than we do, build much more wind etc and drill in the North Sea which seems to be much more of a challenge than the gulf of Mexico.

    People on the right will complain about price controls and taxes, peopleon the left will complain about regressive taxes, plus they don't even like alternative sources of energy. Wind kills many birds, nuclear is unsafe ( though no one has ever died in the U.S. because of it to my knowledge). So here we are, nowhere.

    This president and congress being as partisan as tey are offer little hope for a rational solution that would mean some give and take from both sides.

    Let the debate begin!

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