Thanks EBH.
Posted on 02/02/2011 12:01:57 PM PST by EBH
OPEC member Libya rejected today the need for OPEC to meet this month in order to discuss raising production, saying that oil at $US100 a barrel is justified by a weaker dollar and rising food costs.
Libya's top oil official Shokri Ghanem hailed higher prices, a stance that was at odds with moderate OPEC members such as Saudi Arabia, which have maintained that they favor prices below current levels.
The head of the International Energy Agency reiterated his call for OPEC to be "flexible" in its policy.
Brent crude hit $US100 a barrel yesterday for the first time since 2008 on concern that oil flows through Egypt could be disrupted and that tension could spread into other big producers in the Middle East and North Africa.
(Excerpt) Read more at tvnz.co.nz ...
Any oil over $100 coming into the States should be refused and start increasing our production of our own oil until the price goes below $70. Don’t accept the high priced oil.
So oil goes up...we print more money to pay for it...food goes up...then oil goes up for compensation...we print more money...
Ever heard of the free market ? If we refuse foreign oil for more then 100 bucks a barrel, we’ll have a domestic oil price of at least $200 a barrel, if not more.
The change (emp. to unemp.) has drastically reduced my gas consumption!!!
And I modified my PT to get incredible mpg.
K&N air filter +1mpg
Mobil 1 +1mpg
Manual trans. +10% more efficient than auto
High perf. exhaust + ~ 5% more efficiency
I just got 32mpg on the highway doing 65mph. That’s pretty great for a heavy PT Cruiser with a 4-cyl.
Does this mean we should stock up paper ? Paper price will break the sky if we keep on printing like the last two decades.
” So oil goes up...we print more money to pay for it...food goes up...then oil goes up for compensation...we print more money... “
‘WE’???
I sure can’t ‘print more money’.....
“I sure can’t ‘print more money’.....”
Don’t worry. Uncle Sam will do it for you.
Reducing supply will only raise domestic price higher.
You should consider a class in economics.
you’ve just described the Jimmy Carter years, LOL
No, he described the Nixon,Ford,Carter,Reagan,Bush sen.,Clinton,Bush jun., Obama years. The dollar is in a decline since Nixon unpeged the dollar from gold.
“Any oil over $100 coming into the States should be refused and start increasing our production of our own oil until the price goes below $70. Don’t accept the high priced oil.”
That makes no sense at all.
And if we were to implement such a plan, you would wait in a gasoline line for 8 hours to buy $10.00 gas.
So what would you do? Keep buying the over priced Arab oil, even though we have our own oil that our government won’t let us drill for?????
I would prefer people take classes in “Production” and start producing our own oil. I’m not saying that we need to do this all at once. It’s a goal. If the Arabs know that we will start drilling for our own oil and natural gas, they will lower their prices. As long as they know that our government won’t do this, they will keep raising their prices until we reach $5-$10 gas.
What a crazy, crazy place our world is at.
WE have oil, lots of oil, that we can’t get to...because of our government.
Why are we not screaming bloody murder over this...instead we will send our sons and daughters to the middle east to stabilize it, fight for the oil in the name of ‘free trade and commerce,’ for the rest of the world...
Why the h-e-doubletoothpicks? If we opened up our reserves we would stop this depression on a dime! Jobs, jobs, and more jobs...good jobs for decades to come. All we have to do is get the government and unions out of the way...
It all has to do with money. Who’s getting rich off of our policies? Who in our government is making millions off of the decisions they make? Why would we want Arabs to make the billions of dollars in profits when our own people are hurting. Someone doesn’t care about America and needs to be run out of office. If they want to start another investigative committee, start with oil.
I agree increased domestic production is what we need.
But that won’t happen until a majority of voters believe that is a priority.
No production classes are needed for our oil industry. But I wish more voters were willing to teach their elected officials a lesson.
Lybia is RIGHT! The printing and dumping of dollars overseas in QE2 is devaluaing them! And Obama OUTLAWED offshore drilling in the US! We are SCREWED!
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