Oil makes history near $106

[watchingall]

SIR LANCELOT wrote:

<quoted text>Bad idea. Don't get me wrong,i love diesel,so does my truck. This is not the way to go,our economy depends on transportation to move everything we eat and use. If a massive demand for diesel arises,and we start seeing $5-6 dollar gallon fuel,you will be paying for it at the grocery store and elsewhere. It doesn't bother me to see high gas prices,but it scares the hell out of me with diesel prices. With a truck,you can get a rate increase or fuel surcharge,but it gets passed along to the consumer{you}. This is what is driving inflation.If we don't get it under control,our money will be totally worthless and you will be scared as hell what it will cost you to eat.

Actually, increased demand for Diesel is probably the only that path in the short term that does make sense. By diversifying the fuel base we solve both problems.

relevant article
http://www.worldenergysource.com/articles%2Fp...

Currently gasoline demand is rising at 1.8% a year. If this continues by 2020 we need to build 17 decent sized refineries. No guarantee you can get the oil to fill them. If you diversify to a diesel base we can reduce that to six. As demand rises on diesel more supply will come to the market keeping a lid on prices. Furthermore since you can make it from other fuel stocks as the the price rises it becomes more economical to make it from CTL, GTL, Bio sources and the like.

[Bill H]

workerbeedrone wrote:

<quoted text>
Jones - I have a couple of comments.
1) If you know of a method for producing oil for less than $50/bbl, you should take advantage of the situation and make yourself rich. IMO, there is no way. We can drill ANWR, but estimates are at it's peak, we will only see 1 million bbls/day, and we won't be seeing that for a decade. I'm not that familiar with your other potential sources of oil, but my understanding is that all of the "easy oil" in U.S. territory has been tapped. We can still get oil, but it's expensive.
2) It sounds like you don't believe in the "peak oil" theory, which is now embraced by the large majority of oil experts. So either they know something you don't, or you know something they don't.

I started to read this forum to try and learn something. It appears that Jones has something to learn from you.- Thanks.

[timothy]

right now oil companies is sitting with bush writing him a big fat check for $50m every time he raise the gas. his daddy is getting his cut out of it. when bush ask for $12B for his WAR gas go's up. when you go to the store to by oil for your car that oil didn't go up . so y just gas. think about it.

[Sam Trapane]

Lance Winslow wrote:

It all comes down to loss of value of the dollar.

Lance is partly right. Much of the price increase in oil is just a reflection of the loss in value of the US dollar. But global demand for oil is rising as the Third World becomes industrialized. Brazil, Russia, India, China (BRIC) and many other nations are expanding the way the US did in the 1950's and their growing middle class (1 billion plus) now has money to spend on personal transportation--a car.

The history of global finance is well documented starting with the Brettonwood agreement before the end of WWII. Basically, the US dollar was the most reliable currency and it was backed by our gold reserves at Ft. Knox. But Lindon Johnson's underfunded war in Viet Nam plus his massive social spending caused the next president (Nixon) to remove the US from the gold standard and float our currency. Thirty years later and we have another unfunded war combined with massive overspending. This time the world (or OPEC) may choose to drop the US dollar as the global common denominator and switch to the Euro which is another official currency for over 300 million people.

It is our own fault and until we stop importing more than we export, spending more than our Fed. govt. takes in, and raise interest rates to attract needed foreign investment (slowing our economy even further), the dollar will continue to decline in value against other major currencies raising not just oil but the price of everything. This is a permanent hidden tax on our savings and income that hurts the poor even more than the wealthy.

Congress has made matters worse with a $6 Billion subsidy to Agri-business for Ethanol that has more than doubled the cost of grain and everything related to it (meat, milk, etc.).

Americans are the greatest consumers in the world, a dubious title. We use half the oil and cause half the pollution in the world but only because we developed a few decades ahead of other nations. Our lifestyles are particularly wasteful with our big homes, big vehicles, huge appetites, and throw away lifestyles. Americans generate up to five times more garbage than any nation on the planet.

Big changes lie ahead. Technology can ease the transition to a more sustainable global economy or, as in the past, it can lead to massive global warfare that will reduce the population by billions.

[Sam Trapane]

Observandum wrote:

Just wait until the war between the USA and Iran begins. Oil prices will eventually reach $200 a barrel...

McCain believes it is his destiny to nuke Iran. This will start open global warfare between Islam (1 billion plus) representing the Third World and Christians (2 billon) representing the developed nations that will spread to every corner of the planet. This could begin the end times predicted long ago.

[Chum]

Sam Trapane wrote:

<quoted text>
McCain believes it is his destiny to nuke Iran. This will start open global warfare between Islam (1 billion plus) representing the Third World and Christians (2 billon) representing the developed nations that will spread to every corner of the planet. This could begin the end times predicted long ago.

Oh, I hope not.
You are right about economics and spending, though. The real-estate boooooom was a lot like Huey Long's "every man a king" platform which a bullet cut short. He would have made an interesting president.

We are not in any imminent danger of running out of oil and OPEC must keep that pump running because this is their absolute last shot at converting that stuff to equity. But the absolute greed at all levels that has ruled this country is mind boggling. Even a strong agricultural economy can't support the level of debt we have come to accept as standard operating procedure. On top of that, we have mortgaged our own manufacturing base, outsourced our industrial backbone and tried to make up for our discreapancies with social programs. There is always a piper to pay. Better now than later, contrary to conventional wisdom.

[Freedom of Speech]

Its time for Ron Paul :|

[Sleepless merican]

Give me your poor. We need more poor people. Poor people don't use as much oil, as the governor of california. They don't pay as much tax, so the government gets smaller.

[No_oil_4_u]

Sam Trapane wrote:

<quoted text>
Lance is partly right. Much of the price increase in oil is just a reflection of the loss in value of the US dollar. But global demand for oil is rising as the Third World becomes industrialized. Brazil, Russia, India, China (BRIC) and many other nations are expanding the way the US did in the 1950's and their growing middle class (1 billion plus) now has money to spend on personal transportation--a car.
The history of global finance is well documented starting with the Brettonwood agreement before the end of WWII. Basically, the US dollar was the most reliable currency and it was backed by our gold reserves at Ft. Knox. But Lindon Johnson's underfunded war in Viet Nam plus his massive social spending caused the next president (Nixon) to remove the US from the gold standard and float our currency. Thirty years later and we have another unfunded war combined with massive overspending. This time the world (or OPEC) may choose to drop the US dollar as the global common denominator and switch to the Euro which is another official currency for over 300 million people.
It is our own fault and until we stop importing more than we export, spending more than our Fed. govt. takes in, and raise interest rates to attract needed foreign investment (slowing our economy even further), the dollar will continue to decline in value against other major currencies raising not just oil but the price of everything. This is a permanent hidden tax on our savings and income that hurts the poor even more than the wealthy.
Congress has made matters worse with a $6 Billion subsidy to Agri-business for Ethanol that has more than doubled the cost of grain and everything related to it (meat, milk, etc.).
Americans are the greatest consumers in the world, a dubious title. We use half the oil and cause half the pollution in the world but only because we developed a few decades ahead of other nations. Our lifestyles are particularly wasteful with our big homes, big vehicles, huge appetites, and throw away lifestyles. Americans generate up to five times more garbage than any nation on the planet.
Big changes lie ahead. Technology can ease the transition to a more sustainable global economy or, as in the past, it can lead to massive global warfare that will reduce the population by billions.

I was looking at an old 1964 silver Kennedy half dollar the other night and was reminising my boyhood. A bunch of teens in a car throwing change together to buy gasoline. With that half dollar back in 64 we could get a couple of gallons of gas. Today, I was thinking with old coinage going for 14 times face I could buy a couple of gallons of gas with that old half dollar. Interesting when you think of it.

[Bushwacked]

speed buggy wrote:

As long as the masses are socially programmed to take emotional satisfaction in "keeping up with the Jones'" there will really be no problem until a barrel of oil is around $150.00 a barrel.
Spend, spend, spend, is the mass hypnotic thing that drives 80% of all this and it is only a matter of time before burnout is achieved.
Now is the time for scores of counselors to honestly convince people that their daily mental and emotional stability depends on spending money.
It's an addiction, they get a charge out of it, the same charge as a shoplifter gets stealing.
Ask the shrinks, it's the same.
The scam doesn't work anymore.
The awareness of a realization.
The mojo of the programmers wore off and they don't have a plan B.
We're going down the tubes.

Excellent post.It's funny how all the so-called financial experts praised the consumer driven economy over the past decade.SPEND-SPEND-SPEND,is their motto.I Watched from my small modest home(by todays' standards) as some of my neighbors spent themselves in to bankruptcy.As they pulled their 70,000 dollar boats away on weekends i would grab my fishing pole and the grandkids to do some surfcasting ( priceless).

[No_oil_4_u]

Bushwacked wrote:

<quoted text>Excellent post.It's funny how all the so-called financial experts praised the consumer driven economy over the past decade.SPEND-SPEND-SPEND,is their motto.I Watched from my small modest home(by todays' standards) as some of my neighbors spent themselves in to bankruptcy.As they pulled their 70,000 dollar boats away on weekends i would grab my fishing pole and the grandkids to do some surfcasting ( priceless).

And now those spenders are saying they need a bailout because the big nasty lenders did that to them

[Alek]

New energy sourses necesseary.Sun energy,biogas,bio diesel will alternative energies.Hyrogen energy storages will progres.It is obvious the time is over for petrol dependent energies.Every country will find which kinde of energy fits.Petrol wars time will be over too.Now time is alternative energy time.

[OLD LADY]

Sam Trapane wrote:

<quoted text>
McCain believes it is his destiny to nuke Iran. This will start open global warfare between Islam (1 billion plus) representing the Third World and Christians (2 billon) representing the developed nations that will spread to every corner of the planet. This could begin the end times predicted long ago.

Mr.Sam do you have proof of this statement..please give us links to verify his belief..

[No_oil_4_u]

Coolmind wrote:

USA is spoiled by cheap oil since it was plentiful from TX and OK... it's not ours anymore to waste. Don;t like the price? Use less! Conserve in the home, use LED lites, turn heat down to 50 at nite, drive less, buy smaller car with smaller engine, etc.
Revolution? And do what? Declare war on Saudi Arabia and rob them of what is theirs? Think of what we could have done had bush not wasted trillion destroying Iraq, and we had used that money to work on the energy problem here... bush screwed us for generations.

Gosh thats a novel post. It actually makes sence.

[Jason]

wow alot of you people should just keep to pointing your fingers aggresivly at the tv set cause your explanations of your views are rediculous.

i like the socialist views from some you people bout how rich people should basically be held responsible for everyone elses probs. Now im not rich but i do plan on being somewhat wealthy in my lifetime and thats cause of the risks i take that will either bankrupt me or it will pay off and ill live a decent life, Either way how am i responsible for anyone other then myself regardless. I feel that if it were still left up to nature AND NOT SOCIETY alot you complaining ass people would simply disapeer because you dont do nothing for society but sit and complain how bad it is and how we all should go back to living like we did in the stone ages, You sound like complete morons.

someone should also send gore back 10,000 yrs in the past so he can figure out what factories and big bad suv's caused the earths environment to heat up over 2 degree's

Oh and go ask any1 in the field on why they over bloat the global warming thing when the carbon emmisions weve put out since being upright dont even match the carbon displaced into the atmosphere after any & every single volcanoes eruption on the planet.

Id type somemore but i got alot of money to make, So while you guys waste your lives wasting time here expressing your rediculous ideas, ill be bettering myself through hard work & then belittling you poor bastards who'd rather bitch n whine n complain then take the initiative and do something about it

Its about taking risks you losers

[Kimo]

We have more than enough oil in Alaska to sustain the needs of the people. It's greed by these congressmen and women and our current administration. We don't need there oil. Does anyone remember the opening to the movie "The Kingdom?"

[LWsciencejunkie]

The higher oil goes the happier I get. I am neither sadistic, a masochist nor a person that has a particularly fat wallet.

I am happy that, today, oil has reached 109 bucks a barrel because it is ONLY pain at the pump that will get Bubba and Bubbette really, really interested in screaming for conservation and alternative energy that will end this suicidally stupid "strategy" of being energy-dependent on hostile foreign nations. 33 years ago, with the Arab oil embargo we did not learn our lesson, and now the Arab oil interests are again, if more subtly, refusing to ramp up production and running up the price of petrol as the demand from China and India explodes.
Energy independence is so overwhelmingly crucial to America that it is worth running the price of the gas we put in our SUVs and ORVs, etc. to $10.00/gal.

Do none of those "proud Americans" see the link between their big trucks and the kids dying in Iraq?

[Cranberry]

How much do you think gasoline is in Europe? I checked on-line, and $8.00 is pretty much the norm. A 20MPG vehicle costs 20 cents per mile to move, plus depreciation, insurance, maintenance, tolls, etc.. USA still has relatively cheap gasoline, but yes it will get worse. Drill offshore, ANWAR, oil shale and put more refineries on line, tree huggers be damned.

[Alek]

American citizens have to change life style,walking more, driving less, eating less, change homes with near ones to your job,spend less,talk your problems with frends,simile everybody,dont figth,finish wars,dont wory be happy

[Bill H]

Sam Trapane wrote:

<quoted text>
Lance is partly right. Much of the price increase in oil is just a reflection of the loss in value of the US dollar. But global demand for oil is rising as the Third World becomes industrialized. Brazil, Russia, India, China (BRIC) and many other nations are expanding the way the US did in the 1950's and their growing middle class (1 billion plus) now has money to spend on personal transportation--a car.
The history of global finance is well documented starting with the Brettonwood agreement before the end of WWII. Basically, the US dollar was the most reliable currency and it was backed by our gold reserves at Ft. Knox. But Lindon Johnson's underfunded war in Viet Nam plus his massive social spending caused the next president (Nixon) to remove the US from the gold standard and float our currency. Thirty years later and we have another unfunded war combined with massive overspending. This time the world (or OPEC) may choose to drop the US dollar as the global common denominator and switch to the Euro which is another official currency for over 300 million people.
It is our own fault and until we stop importing more than we export, spending more than our Fed. govt. takes in, and raise interest rates to attract needed foreign investment (slowing our economy even further), the dollar will continue to decline in value against other major currencies raising not just oil but the price of everything. This is a permanent hidden tax on our savings and income that hurts the poor even more than the wealthy.
Congress has made matters worse with a $6 Billion subsidy to Agri-business for Ethanol that has more than doubled the cost of grain and everything related to it (meat, milk, etc.).
Americans are the greatest consumers in the world, a dubious title. We use half the oil and cause half the pollution in the world but only because we developed a few decades ahead of other nations. Our lifestyles are particularly wasteful with our big homes, big vehicles, huge appetites, and throw away lifestyles. Americans generate up to five times more garbage than any nation on the planet.
Big changes lie ahead. Technology can ease the transition to a more sustainable global economy or, as in the past, it can lead to massive global warfare that will reduce the population by billions.

While the $6 billion grant may look to you as making things worse, that view point is short sighted. We need that sort of huge investment to get our transportation off of oil.

That is the answer - we need to get off of oil. Let's get self sufficient. Develop new technologies, people wake up, we need to get off of oil!