Oil futures soar on price forecast

[Yahweh on Rye]

Get Real wrote:

Well, then help us understand the cause of high gas prices, since your so knowledgable on the subject? Give me a few genuine reasons gas is currently 3.59 a gallon?

Tight supplies, especially at the refinery level here in the US, plus increasing world demand - which US companies are drastically affected by - but ultimately have zero control over, since they buy most of their crude on the open market.

That's the short answer.

[BUFFOON ALERT]

Yahweh on Rye wrote:

<quoted text>
When has a sitting President EVER been able to influence inflation or consumer prices? Shouldn't you be bitching to Bernanke instead?
You're attributing powers to the President that fit your narrative when it works for you, because you need SOMEONE whose position you think you actually understand and know about to blame.
<quoted text>
Name three.

Richard Nixon comes to mind. Not the best president, but he froze wage increases and price increases and everything worked itself out in a couple years.

[Yahweh on Rye]

George N wrote:

Ever notice how those decrying the high price of energy are the ones blocking any development of new (other than the wind and solar pipe dreams) sources?
Nuclear?- No way, Jane Fonda,
renowned engineering and physics guru doesen't like it.
Coal Power Plants?-Too dirty, gotta save the planet. BTW, China opens a new one every week.
Drill offshore- No, gotta save the beaches. China helping Cuba explore offshore. Thank God for China's environmental stewardship, Florida beaches are safe.
Import LNG?- No, too dangerous, terminals too ugly.

I think that's a meme that may not be entirely true at the Topix discussion forum level. No one here, as ignorant as they are, seems to have made similar arguments, and some have advocated more drilling.

Repeating old tropes doesn't help endear your arguments to those hostile to them.

[Something Wicked]

Yahweh on Rye wrote:

<quoted text>
When has a sitting President EVER been able to influence inflation or consumer prices? Shouldn't you be bitching to Bernanke instead?
You're attributing powers to the President that fit your narrative when it works for you, because you need SOMEONE whose position you think you actually understand and know about to blame.
<quoted text>
Name three.

The WAR, Illegals (And ALL related FUNDS), and Higher EDUCATION Funds.
THE WAR, THE ILLEGALS (ALL FUNDS, RELATED), AND EDUCATION FUNDING.

[Yahweh on Rye]

BUFFOON ALERT wrote:

Richard Nixon comes to mind. Not the best president, but he froze wage increases and price increases and everything worked itself out in a couple years.

You mean the Arab Oil Embargo and the attendant shortages (among other things) were examples of "everything working itself out" due to Nixonian price controls?

[Yahweh on Rye]

Something Wicked wrote:

The WAR

...affects China's and India's demand in what way?

Illegals (And ALL related FUNDS)

Assuming you mean "illegal aliens", how in God's name are THEY affecting the price of oil sold in London, New York, Tokyo, and the bourses in the Middle East?

and Higher EDUCATION Funds.

You're going to have to explain this one, too.

[Get Real]

I guess I don't understand tight supplies, when there is no shortage on gasoline, no lines, noone running out? I mean, is there an "Imaginary" line, and when it goes below that its "Tight" supplies?

Yahweh on Rye wrote:

<quoted text>
Tight supplies, especially at the refinery level here in the US, plus increasing world demand - which US companies are drastically affected by - but ultimately have zero control over, since they buy most of their crude on the open market.
That's the short answer.

[Yahweh on Rye]

Get Real wrote:

I guess I don't understand tight supplies, when there is no shortage on gasoline, no lines, noone running out? I mean, is there an "Imaginary" line, and when it goes below that its "Tight" supplies?

Tight supply != shortage. There is gasoline in ready supply, but only at the rate at which it can be refined. There is very little slack in the system, and demand globally for the raw material is increasing. Demand nationally for gasoline is unchanged or slightly lower in the timeframe of overall dramatic price rise, but supply remains bottlenecked at the refinery level.

More importantly is the EXPECTED demand vs. supply down the road. Where these curves intersect is where the price point is set.

[Yahweh on Rye]

Something Wicked wrote:

You are deliberatley being a scunt. This trailed off of the oil when I wrote he could off-set our becoming a poor nation; and you wanted three examples of how mcChimp could make a difference.
You must only be coherent in dribs and drabs.
We're done, here.

Speaking of coherence...

Anyway, translating that mess of sentences above, I ask again:
1. What does the war have to do with global demand of oil?
2. What do illegal aliens have to do with either supply or demand of oil or gasoline (or the price of tea in China)?
3. What does education funding have to do with either supply or demand of oil or gasoline?

You named three things, yes. That they appear to be quasi-randomly selected issues with absolutely no supporting description means you've avoided making an argument in favor of blurting out emotional piffle.

Of course, if you make good on your threat to take your ball and go home instead of actually attempting an argument with support, you'll look like an even bigger tool than your above post suggests.

[George N]

Yahweh on Rye wrote:

<quoted text>
I think that's a meme that may not be entirely true at the Topix discussion forum level. No one here, as ignorant as they are, seems to have made similar arguments, and some have advocated more drilling.
Repeating old tropes doesn't help endear your arguments to those hostile to them.

You have more tolerance for fools than I have.

[Ahau Kin]

Hydrogen fuel cells may be the answer. However, there are some practical problems to solve yet, such as how to safely tank a highly explosive gas from an auto accident. Also, how to produce hydrogen from water using a minimum of hydrocarbon - based energy.

They probably won't complete development of hydrogen technology in a serious & start - up manner, and certainly not build any hydrogen infrastructure until they suck this planet dry of all hydrocarbon fuels.

There are powerful vested interests that guarantee this to be factual. Not that these interests are malicious per se, it's just easier to keep drilling for oil and it's certainly easier to keep using the old reliable gasoline engine. And way cheaper to NOT build any hydrogen pumps & stations.

Until the age of hydrogen dawns, get used to gas costing more and more and more..... maybe say goodbye to discretionary income.

[Yahweh on Rye]

George N wrote:

You have more tolerance for fools than I have.

Not usually. I often give up early or don't participate at all depending on my general patience level.

[Yahweh on Rye]

Ahau Kin wrote:

Also, how to produce hydrogen from water using a minimum of hydrocarbon - based energy.

This is probably the biggest factor now and well into the future. It's a net energy consumer still.

They probably won't complete development of hydrogen technology in a serious & start - up manner, and certainly not build any hydrogen infrastructure until they suck this planet dry of all hydrocarbon fuels.
There are powerful vested interests that guarantee this to be factual. Not that these interests are malicious per se, it's just easier to keep drilling for oil and it's certainly easier to keep using the old reliable gasoline engine. And way cheaper to NOT build any hydrogen pumps & stations.

The cost and logistics of creating an entirely new infrastructure almost from scratch is not to be underestimated, especially when the potential benefits are still highly speculative.

[larry]

iv'e never in my life seen a more ignorant bunch of people as what is on diplay here. READ THE M1 SUPPLY PRINTED IN YOU NEWSPAPER EVERYDAY STUPID! talk about sheep.

[Prying Eyes]

Yahweh on Rye wrote:

<quoted text>
Speaking of coherence...
Anyway, translating that mess of sentences above, I ask again:
1. What does the war have to do with global demand of oil?
2. What do illegal aliens have to do with either supply or demand of oil or gasoline (or the price of tea in China)?
3. What does education funding have to do with either supply or demand of oil or gasoline?
You named three things, yes. That they appear to be quasi-randomly selected issues with absolutely no supporting description means you've avoided making an argument in favor of blurting out emotional piffle.
Of course, if you make good on your threat to take your ball and go home instead of actually attempting an argument with support, you'll look like an even bigger tool than your above post suggests.

My new favorite poster..*lol*

[ramon]

Yahweh on Rye wrote:

<quoted text>
This is probably the biggest factor now and well into the future. It's a net energy consumer still.
<quoted text>
The cost and logistics of creating an entirely new infrastructure almost from scratch is not to be underestimated, especially when the potential benefits are still highly speculative.

So please tell me when you or the forecasters are speculating the beginning of WWIII since we now have have a 60 year oil supply available to global consumers.

[Yahweh on Rye]

ramon wrote:

So please tell me when you or the forecasters are speculating the beginning of WWIII since we now have have a 60 year oil supply available to global consumers.

How the hell should I know? I am not a commodities trader, a policy analyst, or a global security expert.

Of course neither is anyone else on this thread, near as I can tell.

[bobbi]

Gas stations have right to a fair profit. Don't blame the oil companies for the price of gas. They are in business to make money. Unfortunately, the price of raw materials to make their product has shot up sky high. Blame OPEC and commodity traders. Those are the two that set the price of the raw material (oil). Why aren't we screaming for OPEC to drop the price a barrel ????????

[john doe]

those who control the oil, control the world,is what they said,go figure,but hey will never put out the car that doesnt need fuel or pluged in,cause it wont make them any money,thats why there charging a ton of money,once they own every thing,maybe theyll put out that car,go figure,four tires with generaters on each one,will keep the car charged,hybreds are junk

[ramon]

Kent Dawg wrote:

<quoted text>
And what do you think is going to change? The ONLY one who has offered any kind of a solution is JM. You might disagree with it, but at least it is something. Correct me if I'm wrong, but didn't Billary say she would address this problem. I would love to hear her solution...
Didn't the president attempt to drill in Alaska and the liberal party and the Al Gore losers block this? If you want to blame someone, blame the automakers for not producing more fuel efficient cars. Blame US manufacturing for sending all the jobs to China who is willing to pay any price for oil so they are keeping the price of oil up. And Blame Clinton for giving China a "Most favored Nation" status, which pretty much eliminated all tariffs on their imports!

I regret to inform you that 18 cents a gallon off this summer will not prevent the war over oil supplies facing the countries on earth within 60 years. I am really pleased Bush and Congress got such a head start in solving this portion of the equation over the past 8 years. Aren't you?