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Oil rises above $90 amid US crude supply drop

Catawba said:
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.
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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.
 
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.
 
Gill said:
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.
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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
 
Councilman said:
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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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
 
Councilman said:
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.
Click to expand...

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.
 
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Gill said:
Let me refresh your memory loss........
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Catawba said:
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?
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Catawba said:
I asked to make a point. I am aware we passed peak oil in this country in 1971. Apparently, some are not.
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Look familiar ????
Click to expand...

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???
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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
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Now why should I be apologizing to you?
 
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Gill said:
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.
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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.
 
Councilman said:
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.
Click to expand...

Peak oil is a bitch isn't it?
 
Grant said:
And most of those 10 million barrels a day is from Canada!

Please, please, please re-elect Barack Obama so Canada can continue on its road to riches!!
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Most of us don't mind buying from canada and mexico, they are our neighbors and it is a good thing to have a economically successful neighbors. Mexico isn't successful, so we have an illegal immigration problem. If any of us think having Mexicans sneaking across our southern border, wait til the Canadians start streaming in....:2razz:

Buying oil from countries that hate us needs to stop....we are funding terrorism with our Arab oil purchases.
 
j-mac said:
Snopes has long been speculated to be biased to the left, however seeing how much faith you put into it, even after you're earlier posting had been questioned, leaves me to conclude that they are indeed biased.....

j-mac
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said speculation is from ubercons who got caught lying by snopes....
 
UtahBill said:
Most of us don't mind buying from canada and mexico, they are our neighbors and it is a good thing to have a economically successful neighbors. Mexico isn't successful, so we have an illegal immigration problem. If any of us think having Mexicans sneaking across our southern border, wait til the Canadians start streaming in....:2razz:

Buying oil from countries that hate us needs to stop....we are funding terrorism with our Arab oil purchases.
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On the contrary though, what do you think would happen to the people of say iraq if the US stopped purchasing oil from them. Perhaps they could still sell it elsewhere, but imagine the economic turmoil.
 
Gill said:
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.
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and replaced him with Ronald Reagan who out of sheer spite dismantled the one right thing that Carter did, implement an energy policy. Every republican president since has said we need an energy policy, but that appears to be empty rhetoric on their part.
don't let your blind hatred of all things "liberal" make you unable to see the wisdom in having an energy policy....
there is nothing liberal about having an energy policy, it is just good common, yea verily even good conservative thinking.
 
drz-400 said:
On the contrary though, what do you think would happen to the people of say iraq if the US stopped purchasing oil from them. Perhaps they could still sell it elsewhere, but imagine the economic turmoil.
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why buy oil from half way around the world when we have nearby neighbors who have plenty?
the first country we should scorn is Saudi Arabia. They are the major source of funding for terrorists...
 
UtahBill said:
and replaced him with Ronald Reagan who out of sheer spite dismantled the one right thing that Carter did, implement an energy policy. Every republican president since has said we need an energy policy, but that appears to be empty rhetoric on their part.
don't let your blind hatred of all things "liberal" make you unable to see the wisdom in having an energy policy....
there is nothing liberal about having an energy policy, it is just good common, yea verily even good conservative thinking.
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Reagan led us down the path to massive deficits, government bailouts and energy dependance. Why do people worship that dude?
 
another winning slogan---ronnie stiffed carter, that's what happened

meanwhile, energy policy:

MAKE IT! as much and as fast as possible!

omnibus energy!

mobilize this nation like fdr did in ww2, emergency footing---the way out of that which ails us today is PRODUCE POWER

energy is a guaranteed worldwide critical need for the next century, he or she who makes power will have the entire planet at his or her well grounded feet

oil, offshore, refineries, electrical power plants, gas, clean coal, nukes, wind, solar, tidal, butterfly wings, alternatives, shale, batteries, tax breaks for and public investment in, r&d, electric cars...

anything that could conceivably kick back to us POWER

this is a JOBS program even more than an ENERGY policy

these are great jobs, careers, productive, secure, with room for advancement, benefits, health care and pensions...

omnibus energy, national mobilization, #1 domestic priority---the way out of our mess

america would respond excitedly
 
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The Prof said:
another winning slogan---ronnie stiffed carter, that's what happened

meanwhile, energy policy:

MAKE IT! as much and as fast as possible!

omnibus energy!

mobilize this nation like fdr did in ww2, emergency footing---the way out of that which ails us today is PRODUCE POWER

energy is a guaranteed worldwide critical need for the next century, he or she who makes power will have the entire planet at his or her well grounded feet

oil, offshore, refineries, electrical power plants, gas, clean coal, nukes, wind, solar, tidal, butterfly wings, alternatives, shale, batteries, tax breaks for and public investment in, r&d, electric cars...

anything that could conceivably kick back to us POWER

this is a JOBS program even more than an ENERGY policy

these are great jobs, careers, productive, secure, with room for advancement, benefits, health care and pensions...

omnibus energy, national mobilization, #1 domestic priority---the way out of our mess

america would respond excitedly
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You left out conservation but that is basically what Carter said 3 decades ago, and people decided to go with Reagan instead.
 
drz-400 said:
On the contrary though, what do you think would happen to the people of say iraq if the US stopped purchasing oil from them. Perhaps they could still sell it elsewhere, but imagine the economic turmoil.
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Nothing would happen to Iraq

Iraq has light to medium crude which most refineries and upgraders can handle fairly easily. The US stops buying from Iraq, Europe, India and China buy more from Iraq to replace the oil that the US bought from Canada

Venezuela, Canada and Mexico would have short term issues if the US stopped buying oil from them. Venezuela, due to the nature of the heavy sour crude it produces is generally refined by specific refineries in the US. It would take time to build or refit refineries to handle their crude. Canada and Mexico because of the transportation network (pipelines) are designed to head to the US
 
Catawba said:
You left out conservation but that is basically what Carter said 3 decades ago, and people decided to go with Reagan instead.
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The problem with Carters policy is it started to work driving oil profits down. Reagan panicked and scrapped the whole thing. After all, profits are the most important thing in this country.
 
USA_1 said:
The problem with Carters policy is it started to work driving oil profits down. Reagan panicked and scrapped the whole thing. After all, profits are the most important thing in this country.
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You are exactly right, I was there and saw it happen. Now, people are whining as if this wasn't a choice made in 1980.
 
says the apologists for him who would...

well, let's let obama say it:

"electricity rates will necessarily skyrocket"

"so if somebody wants to build a coal plant, they can---it’s just that it will bankrupt them"

http://www.youtube.com/watch?v=Hdi4onAQBWQ

whatever DID happen to cap and trade, anyway?

it PASSED the house...

hmm

seeya at the polls, pals

bring ronnie jr
 
The Prof said:
says the apologists for him who would...

well, let's let obama say it:

"electricity rates will necessarily skyrocket"

"so if somebody wants to build a coal plant, they can---it’s just that it will bankrupt them"

http://www.youtube.com/watch?v=Hdi4onAQBWQ

whatever DID happen to cap and trade, anyway?

it PASSED the house...

hmm

seeya at the polls, pals

bring ronnie jr
Click to expand...


More opinion with no facts to back it up. Have you given up on "Drill baby Drill" being the answer to our energy problems? :sun
 
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