Oil prices likely to double, says study

[Latinoman]

We have oil in the US, we're just not allowed to do anything with it.

Not as much as the oil we are importing. In fact, not much at all.

 

[ketostix]

I'm not quite following you. Are you suggesting that there should be some sort of transfer payment from oil companies (and however you want to define those as, whether they be exploration companies, refineries, or whatever) to subsidize the price of gasoline?

Yeah right the oil companies need more money to add to their record billion dollar profits. What I'm saying is there is no market elasticity or whatever the term. The price isn't being set on actual supply and demand, it's being set on how high can they continuously raise it without too much backlash. As far as I'm concerned this is crooked business practice and there should be fines and rules against this price manipulation through "speculation". It's just a shell game like the housing market, and also the stock market often times is.

 

[EricInTheHouse]

It took 55 bucks to fill up my little 4cl Ford Ranger tonight....

Holy freakin damn yo.....

 

[Mr.Positive]

I'm thinking of selling my truck and buying a horse. I'll be the only guy clip-clopping my way to work, smiling, not spending a cent on gas.

This way, all I'll need a gas station for is a place where I can stop my horse, so he can take a sh!t.

I think the horse standard is going to come back. Why are we in such a rush anyway? A horse is the way to go. All you need to do is feed it.

Besides, when a horse gets too old, you can eat it and have a good meal. It's not going to end up taking space in some junkyard.

It may make a good way to pick up the babes too. "What to go for a ride on my stallion?"

Bad-Ass.

 

[SickAgain]

I look at it as a good thing. Rising gas prices will deter many motorists from driving, clearing up congested freeways and reducing carbon emissions. Carpooling will most likely see an increase. Furthermore I have almost 10 grand invested in DBE (deustchbank energy fund) and I'm banking off all this. It's a win/win for me.

 

[MooseGod]

What money? That's not the government money. That's the oil companies money. We don't have a state-owned company.

Actually the post office is a state-owned company, but that's kinda splitting hairs.

I'm surprised nobody mentioned motorcycles--performance, great fuel-economy, and bad-ass-ness rolled into one. Of course you have to be ever-vigilant for the idiots text-messaging people while going 80 in their big-ass SUVs and it sucks riding in the rain.

 

[EricInTheHouse]

This way, all I'll need a gas station for is a place where I can stop my horse, so he can take a sh!t.

Ummm,,,,horses pretty much take a sh!t anyplace that they feel.

There is a wild mustang that runs around in the feilds here, and he is fierce as hell, I may go out there and see if I can saddle the son of a B!tch.
All in the name of increasing gas prices....

 

[Evzone]

My point was "What money?" Those profits are NOT the U.S. Government profits. Those profits are the companies profits.

Yeah I was talking about how it was done in Saudi Arabia or some other countries where the government wastes a ton of money in subsidizing the price of gas, and they're just going to keep wasting more and more as internal and worldwide demand increases.

The Fed needs to stop cutting the interest rate and reign in the money supply. There is no reason why the dollar should be trading at $1.60 for 1 Euro. It's ridiculous. Since the Fed went on it's cutting spree last August, the price of oil went from $70 to $119. Why? Because if you buy oil on the commodity markets, you have to pay for it in US Dollars, and if the dollar is not worth as much, you get screwed.

Look, it's easy to just blame those evil oil companies, but it's not that simple. Of course, most of the blame will probably land with the evil oil companies, Illuminati conspiracies, or whatever because most Americans don't understand economics and just merrily go along with whatever they see on cute bumper stickers, data chosen to back up pre-determined beliefs, or whatever their favorite politician spoon feeds them.

 

[taiyuu_otoko]

Besides, when a horse gets too old, you can eat it and have a good meal.

Dude, I mean, Dude, you can eat IT and have A good meal?


Thats alot in one sitting. its just..I mean...

I'm just sayin..

 

[Centaurion]

It is an exiting time we are living in. I feel lucky to witness the last death throws of an empire. It's not everyday you get to see something like this.

 

[logic1]

even though ethanol is expensive, not energy efficient at all, and it actually pollutes quite a bit.

Evzone

I like to correct statements that don't deal with facts. Hopefully to educate you for your next discussion on the subject. I learn something everyday so dont take this as a slam.

Pure Ethenol or Methonal is cheaper per gallon but it takes about 1.50 gallons Eth or Meth to create the same amount of energy of 1 gallon of gas. Most of the time if gas is $4.00 a gallon, Pure Eth or Meth is around a $1.75 per gallon.

Ethenol and Methonal are some of the cleanest burning fuels avalible. You can actually place a small bowl of Methonal in your house and light it. It burns extremely slow and the flames are invisible to slightly blue. The smell is almost unnoticed. The emissions would not affect you unless you had a large amount in a small area. It is comparable to the clean koroseen used for heat and old lamps except the Methonal produces way more power (BTU's).

Your science lesson for the day.....................

 

[reset]

Bush wanted to drill in Alaska, but Ed Begley Jr shed a tear.

 

[logic1]

Bush wanted to drill in Alaska, but Ed Begley Jr shed a tear.

Along with many others. I have yet to understand this.

Reset, do you have the numbers on the amount of oil avalible in Alaska?? If I remember it was enough to supply our country......or not?

 

[Maxtro]

I'm surprised nobody mentioned motorcycles--performance, great fuel-economy, and bad-ass-ness rolled into one. Of course you have to be ever-vigilant for the idiots text-messaging people while going 80 in their big-ass SUVs and it sucks riding in the rain.

I'm considering buying a bike for those very reasons. Upping my bad boy appeal and saving money at the same time. How cool is that? I don't know a lot about bikes but a friend who has one says he gets 70 mpg on it. I just need to make sure that my medical bills don't exceed the savings I would get from gas.

The age of the gasoline engine car are coming to a close. Hybrids are becoming more and more common electric cars are becoming better. I saw a TV show where they converted a 70's Camaro into an electric car. Other alternative fuel sources are emerging.

I'm never going to buy another gasoline engine car. Anybody who does is stupid.

 

[reset]

I don't know the numbers, my understanding is we have plenty. Maybe someone here knows. When the idea was launched all you saw was horror stories of "is oil worth killing all the wildlife in Alaska?".

 

[Latinoman]

Who cares about the wildlife? I mean...I know the environment is important...but who cares? The issue here is about if the trade off is even worth it.

The question remains the same...how long will it take to get the oil out...and how much oil reserves are there.

Then factor how much we are importing now and how much we are expected to import by the time the oil in Alaska hits the refineries. And then answer, do we have enough to make us independent?

 

[reset]

I think you can actually drill without harming the environment. The environmentalists didn't want to hear it though, Bush's plan to drill was stopped by all the cry babies, and now we've got $4.00 gas.

Alternative fuel, windmills, flux capacitors, sling-shot technology, that stuff is great, but we actually HAVE OIL in this country.My understanding is we haven't build a new refinery in ages. If we can't actually process it, it might as well just stay where it it. We could drill, bring prices down. Some dumbass named Bush tried to actually get it through but it got killed.

 

[logic1]

Yeah, And its too bad its on goverment owned land, the only reason the lawmakers had their say in it.

If it was on private land the oil would have been flowing down the pipeline years ago.

 

[Latinoman]

Come on guys. Don't let politicians and idealists from both sides b.s. you into believing their own agendas.

Do not confuse oil (and for that matter gasoline) prices with energy security.


In 2006, the U.S. consumed around 20.7 million barrels per day. Of which roughly 5.1 million barrels per day were produced domestically and around 12.4 million barrels per day were net imports. Of course, refineries have oil inventories and we have the strategic petroleum reserve with stocks of crude oil too.

Here is the tricky part where the public get all confused and ideological. There is not evidence suggesting that drilling ANWR (Alaska) will lower the prices of crude oil. None. The U.S. government does not tamper with oil prices, the market does. If the issue was to lower prices, then the government would be using the strategic petroleum reserve to do that. People, this is a free (non-regulated) market and the major U.S. oil companies (which happen to be drilling all over the World) are already profiting from the current prices. They are already drilling all over the world too. Therefore drilling in ANWR might do nothing for the prices of oil and for that matter gasoline. ANWR is in fact an issue of energy security...not energy pricing.

So, what’s the big deal about drilling in ANWR? Drilling in ANWR would do is make the U.S. less reliable of foreign imports (this is when the term “energy security” comes into play).

If you think drilling ANWR will lower energy prices, then you are fooling yourself. That has NOTHING to do with oil prices and for that matter gasoline prices (which also factors refineries). It has to do with energy security and less reliance on foreign oil.

The U.S. government does not set the prices of oil. The market does.
All the U.S. government can do is make sure there is energy security (perhaps by making sure we have access to oil either by imports or production).

 

[Latinoman]

If you feel we should be less reliable of foreign oil and for that reason you are championing ANWR drilling...then I see your point. In fact, I would even venture to say that you might have a very good one. I mean...energy security is a SERIOUS issue. I feel crude oil shortage is worst than high prices. If those foreign nations we rely on decide to stop sending crude to the U.S., then we could be royally screwed. Now, I am not saying we should drill in ANWR and I am not saying with shouldn't. I am simply saying in that case your point would be valid.

But if you are championing ANWR drilling under the hope oil and gasoline prices go down...then you are clueless about how the market works. The government does not control prices...the market does. Always remember that.

Do you want a real solution to the problem? Become less reliable to fossil fuel. What does that do?

That kill two birds with one shot: a) will make us less reliable to oil (foreign or otherwise) solving the energy security issue, and b) will solve the issue of dealing with high prices of oil and refined distillates (such as gasoline and diesel).

Doesn't that make sense?