Posted on 06/25/2008 8:52:27 AM PDT by Always Right
And Obama who says that more drilling won't help us right now if ever.
I listened to an interview a couple of days ago, where the guest said that the whole “It’ll take ten years to get oil if we start drilling now!!” IS A BIG FAT DEMOPERVERT LIE!
He said, yes, that it would take ten years for ANWR to start producing, but that there were off shore areas, near where we allready have infrastructure, that could be pumping oil in 1 YEAR!, some more that could be producing in 2 years, and more in three..and the most pessimistic estimate at being able to be producing enough oil to counter all of our imports is SIX years!
And where did he get this information? He got it from the oil company execs and the people who actually, :hands on” produce all the oil we are getting *now*!
Meanwhile, The DimoGenerates think they can ROB the profits of the oil companies into cheaper gas vfor their slaves...when what they will do with their legislative theivery, is push the oil companies we have, off shopre...and then who will the Democrats steal from *then*????
My point is my wonderment at how in Europe the cars they drive (not for sale here in the U.S) get about 60% better gas mileage. Why is that?
The financed auto loan, especially on trucks, is a real burden. You are better off parking the thing and buying an old economy car beater for a thousand in cash. Unfortunately you still have to make the monthly payments and can’t drop the guzzler from insurance if you financed it.
Yeah. I drive a big truck. I need it when I’m hauling kids but I’m looking for something smaller that I can pay cash for to get around town.
. We need to buy as little fuel as we can get by on. When the government can't sell it..the oil companies will reduce purchases and the oil countries will lower prices. Will the oil companies, government and gas stations shave a few cents to keep us happy though and try to keep gas where it is just a little lower than it is now and pocket the savings or will we see significantly lower prices at the pumps? JAT
For all you people who think oil prices are the fault of speculators, I would point out that speculation is what ‘caused’ this drop.
Give me an example of a comparable car that gets 60% better gas mileage in Europe.
Have you ever heard of the concept of “Logic”. For the last 50 years I have been hearing of the magic carb that would deliver 50 or 100 miles per gallon. The oil companies bought the patent and kept them off the market yada yada yada.
So why wouldn’t someone in Europe invent one? The oil companies are nationalized or else many countries has to import all their oil. I would think those governments would jump at the chance.
What about Israel? Are you saying Exxon Mobil would keep the Israelis from developing something that would help conserve fuel for National Defense?
The Soviet Union had no private oil companies and smart scientists who repeatedly won the prize for Physics. You think some backyard mechanic in the states can figure out things and they can’t.
You think the communist researchers hide their invention to keep from hurting western oil companies?
What about North Korea? You think they would turn down an invention that would save scarce fuel?
The oil companies was the sole setter of oil and gasoline prices from 1900 until around 1972 when OPEC was founded. I don’t recall them gouging the consumer in those days.
We use our diesel truck just for farm chores now and have driven about 14,000 miles less this year than last so far. No more going out for an ice cream cone or a gallon of milk.
No no no. Not supplies, SPECULATORS!!
I come from a family of car dealers. You’re my hero.
Europe lets diesel vehicles breathe. The best thing to hit the American gasoline auto market was Honda’s controled vortex combustion chamber engine (CVCC). The Honda CRX from the 80’s and early 90’s got 50MPG and flew like a rocket. It seated four and was cheap. The early 80’s Volkwagen Rabbit diesel got better than 50MPG.
I know this is probably bad form, but the articles come so fast and furious that by the time I post a response with questions, it is pretty much a dead thread. So I am going to repost what I wrote this morning because I want to engage in the discussion about it.
A main source of the problem is that commodity investors are bidding up the price of oil. So, why not just have the oil go from the producers to the refinement and distribution companies and then they sell that oil based on supply and demand? The way it is now, we have an unnecessary middle man making money off of us and my question is why do they have that right when this artificial demand is driving up the price of gas? Why should I as an individual, or any entity for that matter, have the right to do this when oil is critical to the overall health of our economy and to our national security? Just consider how much jet fuel our AF alone uses.
These speculators are creating a market that is separate (ie, artificial demand that has nothing to do with how much oil people need for energy). Isn’t it easy to speculate that the prices will go up when the commodities trader himself is the one driving those prices up. Of course it’s going to go up because they are going to make it go up. They are going to ride it out at our expense until they are forced somehow to stop.
The speculators could lose money too but they aren’t going to because it’s not real demand (ie.. our demand as a consumer product), but rather their own demand for the oil as a commodity to invest in. Increases in supply are not going to stop the market manipulation that is a self-fulfilling prophecy and chain reaction.
In a scenario where a supplier sells a barrel of oil in 3 months from now for $120 a barrel because there are these commodities investors creating artificial demand, that same barrel of oil could have been sold to the refinement and distribution company for $100 a barrel. So in this scenario, the price at the pump would be 20% less. 20% of the cost of a gallon of gas goes to make the commodities investor rich, not to pay for the actual price of oil).
If I as a person went and bought an oil future for 6 months from now for $150 a barrel, I would be hoping that the going price in 6 months is more than $150 per barrel. That would be a risk, but when the people by and large buying the oil as a commodity are buying enough that they can gamble on and then CAUSE the price increase, it’s really not a gamble at all.
I'm confused about your example though. If you bought a lot of oil for 150 dollars a barrel, yeah you want to see a profit but if the people aren't buying your product aren't you going to sell it for what you can and bid lower the next time?
“Wait, do you mean to tell me, demand went down and the supplies went up and now the prices are falling? OH MY GOSH! SHOCK! SURPRISE! Supply and demand is working?”
Of course, there are still real supplies and there is still real demand. These are still in play and will cause fluctuations in the price of oil.
The point, however, is that there is also the commodities investors who are creating an artificial demand (as opposed to the demand for oil for consumption) for oil as a commodity to invest in. This is an ADDITIONAL demand that has nothing to do with normal supply and demand and they are getting rich off of it and we are paying for it. The question is why should they have a right to do this when oil is so critical to the overall health of the world economy as well as our national security?
The world burns about 85 million bpd. Does 1/1000 plus or minus at any time make any difference?
reforming the way futures are trading for commodities is not the same thing at all as nationalizing our domestic oil. If we nationalized our domestic supplies of oil, the govt would set a price for that oil for the American consumer. That is far different than what I am talking about.
Something happened around the year 2006 where the price for a gallon of gas went from around $2.00 a gallon to around $4.00 a gallon and it sure in the heck is not because worldwide demand compared to supply doubled.
We hear a lot about growth in China, but did they grow a whole new nation in the last two years or something? Have they caused the worldwide demand for oil to double in 2 years? The price for a gallon of gas has doubled in two years. There is no way that is about worldwide supply and demand.
In my example, I am not ignoring that there is still real supply and real demand and that will cause fluctuations but they are very small compared to the artificial driving up of demand of oil as a commodity to invest in. The people and entities that can buy enough oil to actually cause the price per barrel of it to go up are not really taking much of a risk. It’s a chain reaction going on. The refining and distributing companies like Exon are benefiting because they get more and more capital and increase profit margins. The oil producers like OPEC are making a lot more money. The commodities investors are making money.........all at the expense of us the consumers paying more for gas that is up and above what our demand for the product is.
The other culprit in all of this is the global warming/climate change cult of which both McCain and Obama are part of. To them, oil is bad because it drives growth in the industrialized world and in the developing world. They want to halt this so they want the price of oil to be high. Basically, we are screwed! Everyone wins except the plain old consumers that just want to drive their cars and such.
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