oil hit 120.00 bux a barrel

oil hit 120.00 bux a barrel

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oil hit 120.00 bux a barrel - 5/6/2008 10:18:44 AM

rapala11

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hang on, it's gonna get bumpy.

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RE: oil hit 120.00 bux a barrel - 5/6/2008 10:47:20 AM

CRAPPIE_SLAYER

Posts: 90
Joined: 1/7/2008
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Thanks to the oil comapanies sticking it to me, my ***hole now whistles on a windy day at the lake.

(in reply to rapala11)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 1:11:35 PM

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Joined: 10/22/2004
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Dont blame the oil companies they are not setting the price just reaping the rewards from the high prices. Most blame should be on the futures traders, speculators and the Saudi's for not having the oil they claim to.

Dont be surprised if Oil hits $200 a barrell by the end of fall.

Word of advice if you own land start drilling oil and gas wells. Oil wells can be drilled for around 100K.

(in reply to CRAPPIE_SLAYER)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 1:33:10 PM

Carpet Bagger

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Joined: 4/18/2001
From: Greenville, PA
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http://www.af.mil/news/story.asp?storyID=123035568

This is what we need to be doing. Its estimated we have over 200 year supply of fuel if we would make it synthetically. If its good enough for the Air Force its good enough for my truck...

They can produce the syn fuel for $50 a barrel.

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RE: oil hit 120.00 bux a barrel - 5/6/2008 2:44:34 PM

LDD

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Joined: 5/20/2004
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I agree Ax but these are the same oil companies who have spent the last thirty years lobbying to get our whole energy policy revolving around them. We should focus more of our anger at the auto industry for fighting more efficient engine stipulations.

(in reply to Ax)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 3:06:12 PM

spoonchucker

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Their boys will be leaving Washington soon, so they're gonna grab all they can now. The speculation has been based on ( "How much can we get away with?" ), rather than market realities.

For those who think the answer is to drill more here.

First, just because WE have it, and WE drill it, does NOT mean WE will GET it. It will go on the world market, just like all oil.

Second, it won't be any cheaper. Most of our remaining reserves require higher cost technollogy to extract. Even in ANWR, industry analysts ( folks who work FOR, and IN the industry ), concede that drilling there would only impact gas prices by 2-4 CENTS per gallon.

We HAVE to quit clinging to oil, like a wino to a bottle of Thunderbird.

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RE: oil hit 120.00 bux a barrel - 5/6/2008 3:17:16 PM

DanesDad

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"We HAVE to quit clinging to oil, like a wino to a bottle of Thunderbird."

THAT is what it comes down to. Instead of worrying about who we should be pissed off at, we need to figure out ways to lessen big oils grip on every aspect of our lives!

(in reply to spoonchucker)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 3:29:20 PM

spoonchucker

Posts: 5662
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We have all heard, how the oil companies have an obligation to their stockholders, and employees ( I recognize that, and agree ). We have also heard how their profit margin is in line, or below other industries ( i can recognize that also ). The thing is, that if Walmart, or Pepsi, or whomever jack up prices to maintain that margin, we can go elsewhere, or buy less. This is not always the option with gas. Having such a vital commodity under the control of basically 5-6 entities, CAN not be, IS not good.

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Get Informed, Get Involved, And Make A Difference.

Step Up, or Step Aside

The next time you say "Somebody should do something", remember that YOU are somebody.

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(in reply to DanesDad)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 3:40:52 PM

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Joined: 10/22/2004
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Spoon all very valid points. I am in the business of raising capital to drill wells (oil & natural gas) for investments and I agree 100% the oil we gather does not go to Americans it goes into the world market.

It is just not our dependencie on Oil it is the entire worlds. China and India being the two biggest issues right now since there countries are growing at a very very rapid pace. What kills me is when some group in Nigeria attacks a pipeline price of oil goes up 10 or so dollars a barrell. Now that pipeline in Nigeria maybe at most accounts for 2% of the total oil. But the great speculators love to make it sound like the world is ending.

The industry in whole needs something done but what exactly can you do? This is a world game not just the good old USA. To be honest with ya and this is coming from a guy in the industry I dont want to see prices go much higher. Once they get any higher there is going to be some serious regulations put in place and it isnt going to be pretty.

(in reply to spoonchucker)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 8:58:50 PM

tippy-toe

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From: under a rock
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"Their boys will be leaving Washington soon, so they're gonna grab all they can now. The speculation has been based on ( "How much can we get away with?" ), rather than market realities."

I'd have to agree with that... I can't believe future traders can affect the price of oil that dramatically.

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RE: oil hit 120.00 bux a barrel - 5/6/2008 9:00:50 PM

jonnyfishon

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Look at the bright side. A gallon of gas is cheaper than a gallon of milk. Were all screwed.

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RE: oil hit 120.00 bux a barrel - 5/6/2008 9:42:53 PM

Inukshuk

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Its like Ax said, one little bump in the road of oil production, the markets panic and oil goes up a little more. We are on a slippery slope that has to violently crash before it ends.

(in reply to jonnyfishon)

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RE: oil hit 120.00 bux a barrel - 5/6/2008 10:42:45 PM

jlh42581

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From: Milesburg, Pa
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quote:

ORIGINAL: jonnyfishon

Look at the bright side. A gallon of gas is cheaper than a gallon of milk. Were all screwed.

Yeah but the last time i checked it took 2-3 days to drink a gallon of milk. My s10 drinks a gallon or more on one way to work.

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RE: oil hit 120.00 bux a barrel - 5/6/2008 11:06:29 PM

jonnyfishon

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quote:

ORIGINAL: jlh42581

quote:

ORIGINAL: jonnyfishon

Look at the bright side. A gallon of gas is cheaper than a gallon of milk. Were all screwed.

Yeah but the last time i checked it took 2-3 days to drink a gallon of milk. My s10 drinks a gallon or more on one way to work.

It was a joke. Hence "WERE ALL SCREWED".

(in reply to jlh42581)

Post #: 14

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