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Oil rises above $90 amid US crude supply drop

Grant said:
It should be understood that what can be good for Obama might not be so good for the American people.
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The drill, baby drill campaign slogan has nothing to do with what might be good for the American people. Its only for trying to influence of the gullible. What's good for the American people is increasing our R&D efforts for alternatives and increasing conservation, both of which this Administration has funded higher than any president in history.
 
Catawba said:
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."
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Yes last time they were both liberals with wrong Ideas. I vote Constitution party so it does not matter. Of course maybe Bachmann will run.
 
Catawba said:
The drill, baby drill campaign slogan has nothing to do with what might be good for the American people. Its only for trying to influence of the gullible. What's good for the American people is increasing our R&D efforts for alternatives and increasing conservation, both of which this Administration has funded higher than any president in history.
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And before that Bush was the highest. Big deal Obama is doing little more than talking and campaigning.
 
Catawba said:
The drill, baby drill campaign slogan has nothing to do with what might be good for the American people. Its only for trying to influence of the gullible.
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Not like it is unexpected, but every time I read sheer ignorance like this I have to laugh, not at what is written, flame bait of the highest order, but rather the arrogance, and ignorant statements put forth like this one.

Cat, if you even tried to have an adult conversation with anyone your credibility might not be in the toilet like it is.

What's good for the American people is increasing our R&D efforts for alternatives and increasing conservation, both of which this Administration has funded higher than any president in history.
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So your answer, much like Carter in the '80s is to put on a sweater, ride your bicycle to work, and stop traveling while we burn up the worlds food suppily in our autos and heating our homes...Meanwhile, we are NOT going to tap any of our untapped, proven reserves in ND, SD, AK, off the shores of the Gulf, Atlantic, or Pacific Oceans, because it just isn't fair that our own gas prices are lower than our Euro friends. And we are going to strangle our economy like this purposely while trying to come out of what could be seen as the worst recession since those Carter days, or before.

Peak Oil is a myth, yet you buy this tripe without question, and willingly spew talking point garbage as if you know it all...But we are the gullible ones....:doh

j-mac
 
j-mac said:
Not like it is unexpected, but every time I read sheer ignorance like this I have to laugh, not at what is written, flame bait of the highest order, but rather the arrogance, and ignorant statements put forth like this one.

Cat, if you even tried to have an adult conversation with anyone your credibility might not be in the toilet like it is.




So your answer, much like Carter in the '80s is to put on a sweater, ride your bicycle to work, and stop traveling while we burn up the worlds food suppily in our autos and heating our homes...Meanwhile, we are NOT going to tap any of our untapped, proven reserves in ND, SD, AK, off the shores of the Gulf, Atlantic, or Pacific Oceans, because it just isn't fair that our own gas prices are lower than our Euro friends. And we are going to strangle our economy like this purposely while trying to come out of what could be seen as the worst recession since those Carter days, or before.

Peak Oil is a myth, yet you buy this tripe without question, and willingly spew talking point garbage as if you know it all...But we are the gullible ones....:doh

j-mac
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What proof do you have that peak oil is a myth?

Is it because it's a sound theory that you're having trouble with it?
 
Jetboogieman said:
What proof do you have that peak oil is a myth?
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Well, I could go on for hours finding site after site debunking the myth cooked up by enviro nut cases, and Socialist liberal extremists and their decades long venture to place known oil off limits to drill and extract, all in the name of their self fulfilling prophecy causing a man made shortage in world wide supply of oil.

But with ignorant statements like:

Is it because it's a sound theory that you're having trouble with it?
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Why bother, sometimes you have to let the duped revel in their own ignorance.

Google

go on and do your own research instead of taking the lazy way out.

j-mac
 
j-mac said:
Well, I could go on for hours finding site after site debunking the myth cooked up by enviro nut cases, and Socialist liberal extremists and their decades long venture to place known oil off limits to drill and extract, all in the name of their self fulfilling prophecy causing a man made shortage in world wide supply of oil.

But with ignorant statements like:



Why bother, sometimes you have to let the duped revel in their own ignorance.

Google

go on and do your own research instead of taking the lazy way out.

j-mac
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Ah good, so you can't.
 
Gill said:
In my opinion, based on the research I've done on the subject, the theory of peak oil cannot be proved or disproved.
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Thank you. After all the question we should be asking is, if at this moment we know full well that there are specific area's like ND that hold huge amounts of carbon resources, but they are being restricted from being extracted for political reasons, then 1. why? 2. can we have the politician's that are pursuing this insane course at this time either hospitalized, or prosecuted for intentionally attempting to destroy an entire nation.


j-mac
 
yesterday:

Two leading makers of lighting products are showcasing LED bulbs that are bright enough to replace energy-guzzling 100-watt light bulbs set to disappear from stores in January.

Their demonstrations at the LightFair trade show in Philadelphia this week mean that brighter LED bulbs will likely go on sale next year, but after a government ban takes effect.

The new bulbs will also be expensive — about $50 each — so the development may not prevent consumers from hoarding traditional bulbs.
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LED bulbs hit 100 watts as federal ban looms - Yahoo! News

seeya at the polls, pals

bring a flashlight, it's gonna be dark
 
today:

Senate Democrats on Tuesday lost in their bid to have major oil companies pay billions of dollars more per year in taxes but are vowing to keep the issue alive in high-stakes budget talks with Republicans.

By a 52-48 vote, Republicans and oil-state Democrats sank a bill repealing $21 billion in tax incentives over 10 years for the five biggest private integrated oil companies.

Democrats Mary Landrieu of Louisiana, Mark Begich of Alaska and Ben Nelson of Nebraska opposed the bill, while Maine Republican Sens. Susan Collins and Olympia Snowe backed the plan.
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Senate rejects repeal of oil incentives - Darren Goode - POLITICO.com
 
Gill said:
In my opinion, based on the research I've done on the subject, the theory of peak oil cannot be proved or disproved.
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Logically we can say the supply is not infinite, but no one knows how much there is or where it is at. There is probably billions of gallons burnt daily as the tectonic plates shift. Many of the oil caverns pumped dry in the 1800's and abandoned, will fill up again from seepage. There are thousands of oil & gas wells capped off and pumps shut down, to artificially increase profits. Nearly the entire ground under California is bubbling in oil and natural gases. It oozes out of the ground as tar up and down the coast.
 
j-mac said:
Meanwhile, we are NOT going to tap any of our untapped, proven reserves in ND, SD, AK, off the shores of the Gulf, Atlantic, or Pacific Oceans, because it just isn't fair that our own gas prices are lower than our Euro friends. And we are going to strangle our economy like this purposely while trying to come out of what could be seen as the worst recession since those Carter days, or before.
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We haven't produced enough oil since 1970 to affect world prices. The experts have said that drill baby drill will not lower world oil prices in any significant way. Our dependence on an energy source with an ever increasing cost for the last half century is what is hurting our economy. See the US Military's warning last year.
 
Catawba said:
We haven't produced enough oil since 1970 to affect world prices. The experts have said that drill baby drill will not lower world oil prices in any significant way. Our dependence on an energy source with an ever increasing cost for the last half century is what is hurting our economy. See the US Military's warning last year.
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Maybe not but it will cut how much we have to buy from other countries.Another words we will be less dependent on Middle East oil.
 
ptif219 said:
Maybe not but it will cut how much we have to buy from other countries.Another words we will be less dependent on Middle East oil.
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Well yes, stop exporting our oil, uncap viable wells & pump oil, and that will lower dependence. Get extra oil from S.America not controlled by OPEC, and that will lower costs. Ohh, begin National oil and that will lower costs by 75% at the pumps.
 
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ptif219 said:
Maybe not but it will cut how much we have to buy from other countries.Another words we will be less dependent on Middle East oil.
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If we Nationalized our oil and if we had not passed peak production in this country in 1971, that would be true. Are you proposing we Nationalize our oil after just going to war in Iraq to de-Nationalize their oil?
 
Catawba said:
We haven't produced enough oil since 1970 to affect world prices. The experts have said that drill baby drill will not lower world oil prices in any significant way. Our dependence on an energy source with an ever increasing cost for the last half century is what is hurting our economy. See the US Military's warning last year.
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Then explain why the price of oil and gas goes up every time a hurricane enters the Gulf of Mexico. Or why the price of gas jumped 40 cents last week because of fears that refineries would be shut down due to flooding although the price of oil is dropping.

hint: Speculators fear that our Gulf oil production will shut down and production will drop. A corresponding increase in our production does the opposite, i.e., lowers the price of oil.
 
Gill said:
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.
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are you saying we had no hurricanes prior to about 1978?
you answered your own question, it is speculation that drives prices up more than the weather....
 
UtahBill said:
are you saying we had no hurricanes prior to about 1978?
you answered your own question, it is speculation that drives prices up more than the weather....
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What does 1978 have to do with anything ????

Yes, its speculation that the hurricanes will affect oil production. Can't believe you actually are contesting this. It's in the news every summer when hurricanes get near the GOM.
 
Gill said:
What does 1978 have to do with anything ????

Yes, its speculation that the hurricanes will affect oil production. Can't believe you actually are contesting this. It's in the news every summer when hurricanes get near the GOM.
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Look at a long range chart of oil prices, before 78, or close to that, oil prices were very stable for decades....
Cause and effect, if hurricanes REALLY had anything to do with it, oil prices would have fluctuated wildly back then, but they did not.
After all, hurricanes only affect the gulf coast oil for the most part, not the entire planet....
 
UtahBill said:
Look at a long range chart of oil prices, before 78, or close to that, oil prices were very stable for decades....
Cause and effect, if hurricanes REALLY had anything to do with it, oil prices would have fluctuated wildly back then, but they did not.
After all, hurricanes only affect the gulf coast oil for the most part, not the entire planet....
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Gulf oil was not a major source of our oil before 1978 and demand was no where near as high as now.

Here's a few examples of many:


Oil Prices Rise As Hurricane Ike Threatens Coastal Oil Facilities
Oil prices rose to above US $109 as Hurricane Ike enters the Gulf of Mexico, threating off-shore oil rigs and coastal refineries. Nearly 80 percent of U.S. oil production and 70 percent of natural gas production in the region remains on hold.

Much of the U.S. off-shore oil infrastructure has been closed down since the threat of Hurricane Gustav last week. JBC energy analysts said, "It's too early to celebrate the passing of Gustav" with the threat of Hurricane Ike.

Royal Dutch Shell will keep staffing at a minimum at its offshore installations in the Gulf. Meanwhile, Iran's oil minister says there may be too much supply to meet global oil demand and says OPEC is considering cutting oil production.
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Oil Prices Rise As Hurricane Ike Threatens Coastal Oil Facilities

Oil production
Sign showing gas prices in front of Sheetz in Mount Jackson, Virginia, on August 31, 2005, just as Hurricane Katrina began to make its mark on the price of gasoline. Prices had risen thirty cents since the previous day, and would rise an additional twenty cents before the day was over.See also: Oil price increases since 2003
The storm interrupted oil production, importation, and refining in the Gulf eden, thus having a major effect on fuel prices. Before the storm, one-tenth of all the crude oil consumed in the United States and almost half of the gasoline produced in the country came from refineries in the states along the Gulf's shores. An additional 24% of the natural gas supply is extracted or imported in the region. Furthermore, the nation's Strategic Petroleum Reserve is also stored in this region.
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Economic effects of Hurricane Katrina - Wikipedia, the free encyclopedia

Almost 30% of our oil production and 50% of our refineries are vulnerable to hurricanes. If we have to import more oil and gas due to hurricane damage (real or potential), THAT affects world prices.
 
ptif219 said:
Maybe not but it will cut how much we have to buy from other countries.Another words we will be less dependent on Middle East oil.
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Not really. It would go on the world market with all of the other oil, and you can't really separate it out.

Unless you nationalize the oil industry and don't let businesses sell it on the open market, but I don't think that's what you're talking about.
 
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