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Oil rises above $90 amid US crude supply drop

Lord Tammerlain said:
Yes it would
Oil is an internationally tradable commodity. The price of which is set based on international demand and supply.


An increase in supply will decrease the price from what it would be if the extra supply had not been avaliable. It does not mean the price would actually go down, just that it may not go up as much as it would have. Given the amount of oil demand coming from China and India, and how much it is increasing, oil prices are unlikely to decrease very much unless masssive supplies come on to the market (Anwar would not be considered massive)
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If we produce it just for us and do not import or export we would not be influenced by the world market
 
ptif219 said:
If we produce it just for us and do not import or export we would not be influenced by the world market
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And the US does not have the capability to produce enough enough to meet its needs, requiring either drastic cut backs in usage (say goodbye to F350's pick ups as personal transportation) or by some magical fairy an economical means to develop the oil shale in the west. Either way oil prices would rise drastically
 
Lord Tammerlain said:
And the US does not have the capability to produce enough enough to meet its needs, requiring either drastic cut backs in usage (say goodbye to F350's pick ups as personal transportation) or by some magical fairy an economical means to develop the oil shale in the west. Either way oil prices would rise drastically
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They do if they drill where they have oil
 
ptif219 said:
They do if they drill where they have oil
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Anwar, and the gulf do not have enough oil to make the US oil independant.

Shale oil, and "Oil Shale" (two different types of oil) combined have the potential, one is currently producing a significant amount of oil, the other is not and wont as it is currently unprofitiable. With out the kerogen sourced oil from oil shale the US will not be independant in producing oil without massive cuts in usage
 
Lord Tammerlain said:
Anwar, and the gulf do not have enough oil to make the US oil independant.

Shale oil, and "Oil Shale" (two different types of oil) combined have the potential, one is currently producing a significant amount of oil, the other is not and wont as it is currently unprofitiable. With out the kerogen sourced oil from oil shale the US will not be independant in producing oil without massive cuts in usage
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We have been making cuts but we are not using the resources we have
 
666. Explanation to high price of oil and gold (4/28/2011)


Every American feels the hurt of the rising price of gasoline. It accelerates its inflation step from later last year. Here are two news.

Oil rises above $90 a barrel in Asia as US crude supply drop suggests demand improving
Alex Kennedy, Associated Press, On Wednesday December 22 (2010)

SINGAPORE (AP) -- Oil prices rose above $90 a barrel Wednesday in Asia after a report showed U.S. crude supplies dropped more than expected for a second week, which suggests demand is improving.

Oil rises above $90 amid US crude supply drop - Yahoo! Finance
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Saudis Slash Oil Output, Say Market Oversupplied

Published: Monday, 18 Apr 2011 | 5:40 By: Reuters

Consumers have urged the exporters' group to pump more crude to put a cap on oil, which surged to more than $127 a barrel this month, its highest level in 2 1/2 years amid unrest in North Africa and the Middle East.

News Headlines
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In four months, the oil price increases more than 25%. It follows the steps of persecution the Feds applies on me.

1. From the news we know the high oil price is not out of "supply and demand". It's out of the "speculation". The big bankers manipulate oil price high to save Dollar. (Iran abandoned dollar in oil trading. See “556. Petro-dollar, the cause of Iran war (7/4/08)”)

2. The high oil price will also justify Iran war. After the war, the oil will return to normal. (Around $30/barrel) Then the media will tell people, "You see. We are right to go war on Iran. So you all can enjoy a low price gas now." So the anti-war mood will be minimized.

3. The plotter used to make money on war crisis. So they accumulate the oil future options to push up the price. Once the war happens, they can make huge profits. (They had done so in 911 attack when they made money in stock option market.)


4. In 2007 and 2008, when there was a plan to war on Iran - the plot was signaled by a B-52 loaded with nuclear missiles flied over US continent, oil had been pushed up to $147/barrel. Now it is in a similar situation.

5. The model will be: False flag terror attack happens in US and European countries.(likely nuclear bombing or dirty bomb attack). It will justify war on Iran because Iran is accused of developing nuclear weapons. During the war crisis, under the propaganda of the media, the price of oil and gold will go up like crazy. That is the time the mastermind to unload their stock (the oil future option and gold) to public.

Iran war plot has been in plan since Bush’s second term. It was delayed again and again because the Feds also project it as a distraction on a framed drug case so I can have the above conclusions through my observation.
 
In a 7,000-word essay for Rolling Stone magazine that was posted online Wednesday, Gore says Obama has failed to stand up for "bold action." Gore contends that Obama has made little progress on the problem since Republican President George W. Bush. Bush infuriated environmentalists by resisting mandatory controls on the pollution blamed for climate change, despite overwhelming scientific evidence that the burning of fossil fuels is responsible.

Gore does credit Obama's political appointees with making hundreds of changes that have helped move the country "forward slightly" on the climate issue, but says the president "has simply not made the case for action."

"Obama has never presented to the American people the magnitude of the climate crisis," Gore says. "He has not defended the science against the ongoing withering and dishonest attacks. Nor has he provided a presidential venue for the scientific community ... to bring the reality of the science before the public."

The comments mark a turnaround for the nation's most prominent global warming advocate, whose work on the climate problem has earned him a Nobel Prize and was adapted into an Oscar-winning documentary.
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Gore: Obama Lacks 'Bold Action' on Global Warming - ABC News

which one is nuts?
 
The Prof said:
Gore: Obama Lacks 'Bold Action' on Global Warming - ABC News

which one is nuts?
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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
 
The Prof said:
Gore: Obama Lacks 'Bold Action' on Global Warming - ABC News

which one is nuts?
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As a side point....You'll note that this complaint was regulated to the back pages of Rolling Stone. Two years ago it would have been the cover and main story.

fonz.jpg
 
ptif219 said:
If we would drill where we have oil and not export it and increase refinery capacity that would not affect us
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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?
 
obvious Child said:
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?
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Just make it contractual in any new domestic drilling lease, who's talking about nationalizing?
 
ptif219 said:
Maybe because it has doubled since Obama took office. After all Chu says we need to pay as much as Europe. I would like to know why we should pay more
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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?
 
ptif219 said:
We have lowered consumption and prices have doubled

U.S. Gasoline Demand Is At A Decline, Not Likely To Go Up Ever Again – AltTransport: Your Guide to Smarter Ways of Getting Around
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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."
 
Actually the answer is more government, but not in the aspect people are thinking of. We need a Manhatten like project on alternative fuels and storage. And before any of you wankers say this is a bad idea, this is a national security issue. The faster we decimate the demand for oil, the faster Chavez and the Mullahs fall from power.
 
obvious Child said:
Actually the answer is more government, but not in the aspect people are thinking of. We need a Manhatten like project on alternative fuels and storage. And before any of you wankers say this is a bad idea, this is a national security issue. The faster we decimate the demand for oil, the faster Chavez and the Mullahs fall from power.
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Excellent point! Surprisingly, I don't think many have made that connection.
 
Catawba said:
Excellent point! Surprisingly, I don't think many have made that connection.
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Most people do not understand how the oil market works. It's not that surprising they don't make the connection as to how large American demand keeps oil prices at levels sustainable to Regimes opposed to American interests when they don't understand global commodity exchanges. That said though, a significant collapse in American demand would likely kick the House of Saud out of power....which may be more detiremental to the US then the US gains from knocking off the regimes in Tehran and Caracas. Is losing Riyadh worth revolutions in Tehran and Caracas? I'm not so sure about that.
 
obvious Child said:
So you are saying the answer is more government?
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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.
 
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Prof. Peabody said:
Don't put words in my mouth please.
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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.
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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.
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Except that CNG still props up regimes in Tehran and Caracas. Not to mention seriously stifles democratic reform in the FSU states.
 
Catawba said:
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?
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it has doubled in price .. in december of 08 oil was under 40 dollars a barrel
 
katsung47 said:
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
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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/publications/the-world-factbook/rankorder/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.
 
obvious Child said:
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?
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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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