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Oil rises above $90 amid US crude supply drop

Thats not the point they have doubled in the last two years. We expect some rise but not to double in that short of time.

"The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact."

Some people can only learn the hard way I guess! :sun
 
"The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact."

Some people can only learn the hard way I guess! :sun

Wrong we learn not to vote democrat and gas may cost less. After all Chu annd Obama think we do not pay enough.
 
Wrong we learn not to vote democrat and gas may cost less.

That is only a feasible idea for idiots that have no comprehension that world oil production peaked in 2006 while world demand continued to grow. See the warning a year ago from the U.S Military. :sun
 
and devaluation of the dollar is the most insidious of all

why does the energy secretary PREFER eight dollar gas?

why do so many obama supporters want to FORCE us out of our cars?

why did the slasher tell the chronicle he would ACTIVELY bankrupt coal?

know the man!

vote obama 2012!

They want to do more than just force you out of yoyr cars.

This 10 year old column still holds holds ruefully true today.

SteynOnline - THE DEMS ARE OUT OF GAS, AND COAL, AND WOOD
 
Every time a hurricane comes close? got links ?

I hope you are kidding. It is common knowledge and happens every year.

Our gas just skyrocketed 40 cents a gallon because speculators were afraid the Mississippi River flood would damage or shut down refineries.
 
And how again has Obama increased the world pricing of oil?

All he has to do is tell the oil producers that he will allow them to drill for oil anywhere in the America, ANWR for example, and the speculators will start speculating that oil prices will come down.

Speculators frequently bet on the foolishness of government and they are seldom wrong over the long term.

The oil from ANWR should have been flowing into the lower 48 now but the Democrats chose, in 1996, to make caribou their priority.
 
First, let me note that I believe GW is ~10-30% anthropogenic.

I believe gas prices should be higher. Some cost of extraction, processing and use is currently an externality. I'm happy with the prices being higher and oil companies (and their fat CEOs) reaping the profit for fame and recreation in exotic lands. Plan B is to let tax account for the externalities. Either way is ok for me. With the free market and government competing for externality profit, I'm politically torn.


Thus, I don't much care who's gonna get what; however, I'm sure the price is too low. It is cheating future generations of inheritance, one way or another.

I'm pro gas-price-increase, and that's terrible for a free-wheeling free-marketeer.
 
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First, let me note that I believe GW is ~10-30% anthropogenic.

I believe gas prices should be higher. Some cost of extraction, processing and use is currently an externality. I'm happy with the prices being higher and oil companies (and their fat CEOs) reaping the profit for fame and recreation in exotic lands. Plan B is to let tax account for the externalities. Either way is ok for me. With the free market and government competing for externality profit, I'm politically torn.


Thus, I don't much care who's gonna get what; however, I'm sure the price is too low. It is cheating future generations of inheritance, one way or another.

I'm pro gas-price-increase, and that's terrible for a free-wheeling free-marketeer.

Only the free market can determine the price and value of a product. It's when the government gets involved that the process become distorted, and with predictable consequences.
 
Only the free market can determine the price and value of a product. It's when the government gets involved that the process become distorted, and with predictable consequences.

HAHHAHHAHHAHA, free market in the oil market.. you have got to be smoking some great weed Grant. Speculation is driving the oil price, pure and simple, and the free market for oil prices went poof a very very long time ago.
 
HAHHAHHAHHAHA, free market in the oil market.. you have got to be smoking some great weed Grant. Speculation is driving the oil price, pure and simple, and the free market for oil prices went poof a very very long time ago.

Speculation is an integral part of the free market system, and is used for a variety of commodities. We buy and sell everything, including our labor, with the intention of making a profit. Speculation, as your referring to it, allows the producers to get an advance price on their products and then they will grow it, mine it, or whatever, secure in the knowledge that they'll have a firm price when the job is done and the product delivered.

It's really hard to believe that these common transactions have to be explained.
 
That is only a feasible idea for idiots that have no comprehension that world oil production peaked in 2006 while world demand continued to grow. See the warning a year ago from the U.S Military. :sun

Nice broken record but it does little to justify the doubling of price under Obama.
 



Watch this over and over again until it sinks in people....This is planned.


j-mac
 
Watch this over and over again until it sinks in people....This is planned.
j-mac

Bankrupting the United States always seemed to have a deliberate feel to it, that nobody could carry out such policies unless they were deliberately trying to destroy the country. Perhaps that's a conspiracy theory too far, but it's hard to believe that this was done through ignorance.
 
Nice broken record but it does little to justify the doubling of price under Obama.

That's what happens when approaching world peak oil. See last year's statement from the US Military when they warned we were approaching peak oil. :sun
 
All he has to do is tell the oil producers that he will allow them to drill for oil anywhere in the America, ANWR for example, and the speculators will start speculating that oil prices will come down.

Speculators are smart enough to know that drilling the small amount of oil in ANWR would have negligble effect on world prices, and Obama didn't stop it. Congress stopped it. McCain voted against it when it came up for a vote last year.
 
Nice broken record but it does little to justify the doubling of price under Obama.

Do you believe in capitalism and the market setting the price?
 
That's what happens when approaching world peak oil. See last year's statement from the US Military when they warned we were approaching peak oil. :sun

Yeah yeah you are a broken record. Notice when ever Obama is in campaign mode he talks about drilling.
 
Do you believe in capitalism and the market setting the price?

When it comes to oil the industry can set it by causing less supply. We need to stop the subsidies and get rid of ethanol
 
Yeah yeah you are a broken record. Notice when ever Obama is in campaign mode he talks about drilling.

Sure, the GOP has found that suckers just love their "drill, baby drill" campaign slogan. Obama is co-opting it! :sun
 
Speculators are smart enough to know that drilling the small amount of oil in ANWR would have negligble effect on world prices, and Obama didn't stop it. Congress stopped it. McCain voted against it when it came up for a vote last year.

If it is not profitable to drill for oil in ANWR then it won't happen, but whatever oil there might be is of no use in the ground. Or is it "all about elk"?

Drilling in ANWR would send a message that the Obama Administration is serious about doing something about energy, in this case oil. But as the American government appears to be indifferent to the difficulties, or adversarial to drilling, then speculators will continue to make a great deal of money. And so they should.

It's fair to point out that it was Obama's Democrat Congress that stopped any drilling and while Clinton was President he vetoed Congressional approval, claiming it would take ten years before the oil arrived anyway. The idea that there is insufficient oil to bother with is just another excuse.
 
Sure, the GOP has found that suckers just love their "drill, baby drill" campaign slogan. Obama is co-opting it! :sun

It should be understood that what can be good for Obama might not be so good for the American people.
 
It's fair to point out that it was Obama's Democrat Congress that stopped any drilling and while Clinton was President he vetoed Congressional approval, claiming it would take ten years before the oil arrived anyway.

Obama's GOP challenger last election was also opposed to drilling in ANWR - McCain said, "We ought not drill in the Everglades, we ought not drill in the Grand Canyon, we ought not drill in ANWR."
 
Sure, the GOP has found that suckers just love their "drill, baby drill" campaign slogan. Obama is co-opting it! :sun

He is playing politics. He shows he has no credibility or integrity just his Chicago gutter politics and thuggery
 
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