Posted on 05/10/2008 2:32:15 PM PDT by kellynla
TEHRAN (RIA Novosti) - The price of oil could reach $200 per barrel if current market conditions persist, Iran’s oil minister said on Thursday.
“If the current conditions remain the same, a period when oil is supplied at $200 a barrel is not out of the question,” Gholamhossein Nozari told the IRNA news agency.
He said the weak US dollar and supply concerns from Nigeria were the main reasons behind the surge in oil prices.
On Wednesday, crude prices hit a record high of $123.53 a barrel.
“The US dollar has weakened ... Another reason is related to problems in Nigeria’s crude production,” Nozari said.
Earlier this week, the U.S. investment bank Goldman Sachs forecast an oil price of more than $200 a barrel within two years.
We need this bill passed and we need it passed now!
Republican Senators Offer Bill to Increase US Supplies (S.2958)
http://www.freerepublic.com/focus/f-news/2014187/posts
Domenici, Senate Republicans Unveil Plan to Increase Domestic Production ( S.2958 )
http://www.freerepublic.com/focus/f-news/2014017/posts
Oil Economics 101 (American Energy Production Act of 2008)
http://www.freerepublic.com/focus/f-news/2014015/posts
We need this bill passed & signed into law.
And we need it NOW!
You can contact your senators here:
http://www.senate.gov/general/contact_information/senators_cfm
?
Whatever the link is for, it doesn’t work. LOL
Why are we hearing nothing from our President about this?
This is definitely affecting the average American. I know that the Sean Hannity’s and some Freepers seem to think this is not a problem, and everything’s just fine, but I’m not buying it.
You want cheaper oil?
STOP PRINTING MONEY.
Only the Dems can fix the country, we are not allowed.
The President lost his cajones long ago, and refuses to stand up and fight.
In my industry we are nearing a shut down or severe curtailment, and I am only one small industry.
This should never have happened!! GW dropped the ball as well as Newt's congress.
Tell us your remedy to fix the problem.
ARE YOU REALLY GOING TO BELIEVE IRAN'S OIL MINISTER OR THE TEHRAN TIMES?
Sheesh.
Why should I have the solution? I’m paying these people to run our country. And I think the leadership should address what’s going on. Don’t you?
Same reason you didn't hear from him when housing was sky high.
He's letting the markets work.
Right now oil prices are full of air from speculators. They will sink very soon.
Do you really think our President gives a rats a** about the price of oil?
Will do.
Right. Make sure to ping me when it does. I'll expect to hear from you soon?
“Earlier this week, the U.S. investment bank Goldman Sachs forecast an oil price of more than $200 a barrel within two years.”
But for the record, the purpose of my posting the article & the thread is for folks to contact their senators and demand that S.2958 be passed.
“Please contact your U.S. senator to pass S.2958 “
Will do.
Thank you...now that’s the idea, FReepers! LOL
Needs repeated.
He's letting the markets work.
As I recall, gov't put their fingers in that pie. And all is still a mess.
And I don't find oil and the American housing market comparable.
“I don’t think you guys get it, GW is still President.”
What you don’t “get” is that even if we don’t get the bill passed & signed this year; by everyone contacting their senators & representatives, it makes them and the next POTUS aware that we want action and WE WANT IT NOW!
now if you want to be negative about everything;
take it elsewhere...one thing is for sure;
if we don’t act, NOTHING WILL BE DONE!
No.
People thought housing would rise forever also.
Nothing ever does.
Especially their futures traders who will ride the bubble till it pops.
Is that what they're saying? I wouldn't know. I guess you do.
And I still don't think that housing and oil are comparable commodities. But be sure to ping me when the prices go back down. And not just two cents. I'll be waiting.
Of course. Fear stories are all over the news. Duh. It fits the Dem agenda of the economy in so-called turmoil. This thread is about yet another from Iran's MSM no less.
Housing and oil...they are comparable in that speculators buy into both and thus get pumped up beyond sustainability. Similar to the stock market bubble as well.
Why would I ping you?
We continue to build more housing in America every day...we haven't built a new oil refinery in America in THIRTY YEARS;
we haven't built a nuclear power plant in THIRTY YEARS and during the 70’s oil embargo we imported 40% crude and today we import 60%.
Crude cost less than $12 a barrel 1/1999. If you think this issue is going to improve without increasing our domestic production of energy; you are in for a rude awakening.
Why would I ping you?
You're so sure that oil is going to go down, I wanted to be able to admit that I was wrong. When we have the Arabs and the oil countries by the cajones, I'm sure they will. But hey, if you're having second thoughts, that's okay.
OH stop complaining! Don’t you know it could be worse, we could be like Europe!! /s
McPain and his pals will be along shortly to use EMOTIONAL WARFARE to stop Americans from discovering new sources of energy:
O'REILLY: You voted against ANWR drilling. You voted against ANWR.
MCCAIN: Yes, and I'll vote against drilling if they want to drill in the Grand Canyon, and I'll vote against it if they want to drill in the Everglades. And I will try to make it more attractive for Florida and California and other states to have drilling off of their coasts, but I'm not going to force them to because...
O'REILLY: But no one lives in ANWR.
Complete interview here:
http://www.foxnews.com/story/0,2933,354727,00.html
Whose side is that guy on, anyway?
Well McCain changed his mind about the border;
we’re just gonna have to change his mind on ANWR! LOL
But we need EVERYONE to contact their senators & representatives!
Your sanity is needed on this thread. LOL
“The only thing that HAS changed in 40 years is the Hidden (tho not so hidden any more) Inflation caused by the Central Banks printing MORE Debt Notes?”
The inflation rate from 1968 to 2008 is 500%
The price of crude has gone up ONE THOUSAND PERCENT SINCE 1999; while the inflation rate since 1999 is 28%.
STOP PRINTING MONEY.
AND START APPROVING REACTORS!
Personally I have developed a car that runs on popcorn instead of corn ethanol. It used a large microwave and a turbine. Works great and smells even better with lots of butter.
It is a mistake to compare dollars to dollars since there is no set value for the dollar.
It is like measuring something with a rod that also changes in size.
Silver then a 25c piece, got one gallon of gas. That same quarter made of silver, gets you one gallon of gas.
THAT is value to value which remains a constant unit of value from which to measure other units of value.
Oil and silver has the same value today as 40 years ago.
The dollar clearly, does not.
If you can’t be intellectually honest enough to admit that the price of crude oil has gone up 1000% while the inflation rate of the dollar has only gone up 28% since 1999 then you are wasting my time.
C...yaaaaaaaaaaaaaaaaaaaaaaaaaa...
http://www.nrdc.org/air/energy/taskforce/tfinx.asp
The Democrats sole interest in this Presidential iniative was to find reasons to trash Dick Cheney.
They even went to court to force release of otherwise confidential documents.
Subsequently, Democrats have done nothing but fight to limit American access to new or additional energy sources.
The reason you don't hear much about the Presidential plans in this regard is the Democrats and their allies in the MSM have prevented you from hearing it.
Thank you for giving me this opportunity to remove Democrat s-|+ from your ears.
Gas-competitive gas / ethanol mixturesAlso, I was surprised by the introduction of a machine for making home-made ethanol.
EFUEL100But watch out for fines for violating biofuel regulations.
Fines for violating biofuel regulationsIn the meanwhile, I'm keeping an eye on the following development in non-corn ethanol production.
Non-corn ethanolFinally, on the down side of ethanol, I've heard that ethanol fires are harder to put out than gasoline fires. Can anybody shed some light on this?
Bingo...nuclear energy is such a HUGE part that is not being discussed more often. It is OK if Europe has plants all over the place but in the home of the free and the brave?
HELL NO.
Ridiculous..we are slitting our own throats in the name of political correctness.
Pump when ready Gridley!
Can someone please let me know what prevents the President from using an Executive Order to allow drilling. Sure the Enviros will scream but 85 percent of the public would applaud him. If Clinton can issue all kinds of Executive Orders ie Gays in the military ect..why can’t Bush?
“Silver then a 25c piece, got one gallon of gas. That same quarter made of silver, gets you one gallon of gas?”
And before I leave you to your ignorance;
the American quarter in circulation in 1968 didn’t contain any silver any more than the quarters in circulation minted since.
The quarter is 91.67% copper and 8.33% nickel.
Good evening.
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