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6 Reasons Why Oil Could Plunge
U.S.News & World Report ^ | Thursday May 22, 11:33 am ET | Kirk Shinkle

Posted on 05/24/2008 9:24:38 AM PDT by BenLurkin

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1 posted on 05/24/2008 9:24:38 AM PDT by BenLurkin
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To: BenLurkin
# 7....it's getting closer to election.

Leni

2 posted on 05/24/2008 9:26:21 AM PDT by MinuteGal (Foot Soldier in FR's Light Verse Brigade)
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To: BenLurkin

Your word to God’s ear.


3 posted on 05/24/2008 9:32:21 AM PDT by EverOnward
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To: BenLurkin

8. All Alternative energy production sources encouraged.

9. Corruption and obstruction (while secretly moving US technology offshore) at the US Patent Office ends.

10. Additional nuclear reactors planned

11. ANWAR drilling begins


4 posted on 05/24/2008 9:32:26 AM PDT by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
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To: BenLurkin
Saudi Arabia, home to the world's largest reserves, is pumping at full capacity.

Incorrect. Saudi Arabia is 2,000,000 barrels under their daily capacity.

Their "increase" of 300,000 barrels daily several months ago was a proverbial drop in the bucket compared to their capacity under-run, and likely simply accounted for the overage they were already pumping.

5 posted on 05/24/2008 9:40:31 AM PDT by usconservative (www.ropma.net -->ISLAM is NOT a religion of peace, it is a CULT of DEATH.)
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To: Diogenesis
11. ANWAR drilling begins

Why stop there? We have untapped oil in the Gulf of Mexico we could be extracting, oil in Colorado's mountain ranges that we know how to extract now (drilling sideways without damaging the environment) and our own shale oil reserves we could be exploiting using underground extraction which doesn't disrupt the surface.

So why don't we do it?

Oh yeah, that's right - an environmentalist-nazi controlled Democrat party, and a bunch of spineless Republicans who don't force daily votes on drilling off our own shores or in our own waters.

Don't just toss out the Dim's, toss out the spineless Pubbies too this election!!!

Demand Energy Independence, and demand it NOW!

6 posted on 05/24/2008 9:43:45 AM PDT by usconservative (www.ropma.net -->ISLAM is NOT a religion of peace, it is a CULT of DEATH.)
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To: BenLurkin
Here's an idea.

Call me crazy, but how about stopping the "speculator driven" hedge-funds that have unnecessarily driving up the price of oil?

In a consumer-driven free-market economy that we live in, why do we allow market manipulation like this to occur?

7 posted on 05/24/2008 9:46:14 AM PDT by usconservative (www.ropma.net -->ISLAM is NOT a religion of peace, it is a CULT of DEATH.)
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To: BenLurkin
0. The speculative bubble could go "pop"!


8 posted on 05/24/2008 9:47:40 AM PDT by Nervous Tick (La Raza hates white folks. And John McCain loves La Raza!)
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To: Diogenesis

8. All Alternative energy production sources encouraged.

Probability: Unlikely. Any increase in production won’t offset growth in demand.

9. Corruption and obstruction (while secretly moving US technology offshore) at the US Patent Office ends.

Probability: Unlikely. It hurts when coffee gets spit out my nose.

10. Additional nuclear reactors planned.

Probability: Unlikely. Brainwashed lefties will never allow anything meaningful in this regard.

11. ANWAR drilling begins

Probability: Unlikely. See #10.


9 posted on 05/24/2008 9:47:50 AM PDT by Eccl 10:2 (Pray for the peace of Jerusalem - Ps 122:6)
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To: BenLurkin

7. China and India, feeling sympathetic to the plight of suffering SUV-driving Americans, abandon their 3 cylinder, 1200 pound automobiles and return to bicycles and rickshaws for transportation.


10 posted on 05/24/2008 9:57:45 AM PDT by Drew68
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To: BenLurkin

The price of oil will plunge when environmentalist freakos run out of cash to buy our treacherous politicians who deny us the right to pump our own oil.


11 posted on 05/24/2008 10:00:17 AM PDT by abclily
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To: MinuteGal

# 7....it’s getting closer to election.

This gambit was discussed in the last election. There was very little movement in the oil and gas prices back then.


12 posted on 05/24/2008 10:02:43 AM PDT by bioqubit
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To: Nervous Tick
0. The speculative bubble could go "pop"!

My dad has been talking for months about tulip mania, both with regards to housing and now commodities, including oil. That said, far too many folks now believe the price of oil and other commodities will increase forever, which is exactly what the speculators predicated their moves on during the housing insanity two years ago...and we all know how that one ended!

13 posted on 05/24/2008 10:07:01 AM PDT by rabscuttle385 (During the Middle Ages, rats spread bubonic plague. Today, Rats spread the socialist plague.)
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To: All

1) ANWR holds at most 2.7 years of US consumption, more likely < 2 yrs. Possibly as little as 1. More importantly, that’s about 3 months of world consumption.

2) Alternative Energy has been sought with funding for 31 years now. The DOE was created in 1977. Oil remains the primary fuel source for transportation. There is no proof or law of the universe that says acceptable alternatives can be found.

3) Cities are not farms. Food gets to cities on trucks, usually over large distances. Trucks use diesel. Nuclear power provides electricity, but the power required for trucks to carry food to cities is beyond practical electrical designs. The horsepower/watt conversion would dictate battery size/weight so large that little payload room would remain in the equations. There is much talk of cars for alternative fuels, but from the perspective of sheer survival of civilization, it is trucks that matter, not cars.

4) The Democrats are being entirely political when they say “you can’t drill your way out of the problem”, but from a long term perspective this is right. New supply would lower prices temporarily, and there’s nothing wrong with a temporary reduction in price, but the truth is that there is no reliable evidence behind “oil is replenishing itself” theories. If there was, private landowners with old wells on their land would restore their revenue flow now that prices are so high. They don’t because empty means empty. There is a finite planetary supply of oil and when it’s gone, it’s gone. (Note, however, that Saturn is made of methane)


14 posted on 05/24/2008 10:07:21 AM PDT by Owen
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To: BenLurkin

I’m not counting on this. We need and energy independence moonshot. Give oil a competitor. Competition works.


15 posted on 05/24/2008 10:09:59 AM PDT by mysterio
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To: usconservative
Do you want to hear a really crazy idea? How about we form a group that we could all participate in through elected representatives. It could be an organization that would set up certain operating guidelines that would promote our general welfare as a group (Nation). We could then have this organization look into making some of these possible mitigating factors come to reality. We could call our newfound group a "representative government". Wouldn't that be neat?

On second thought, nevermind. The Globalist oligarchy that runs our current government must know what is best for us.

16 posted on 05/24/2008 10:11:34 AM PDT by nitzy (Take your pick: Globalism OR Limited Government)
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To: BenLurkin

I can think of another reason.

Using oil as a fuel source in itself will be obsolete, when the big oil companies find out they no longer have the cojones of the world in their hands because in some lab right now there is people developing processes that will be a historical turning point for the human race.

And the Saudis know it and are afraid, they will make as much as they can any way they can before the bubble bursts.


17 posted on 05/24/2008 10:18:25 AM PDT by Eye of Unk (The world WILL be cleaner, safer and more productive without Islam.)
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To: Owen
1) ANWR holds at most 2.7 years of US consumption, more likely < 2 yrs. Possibly as little as 1. More importantly, that’s about 3 months of world consumption.

I agree with all your points but doubt they'll be popular on this forum. Drilling ANWR is akin to putting a band-aid on a gushing wound.

Our energy crisis is going to call for a complete restructuring of American society. We got a taste of the future back in the 1970s and we adapted temporarily. However, we squandered the opportunity to change our habits and now we are paying the price. Change will be forced upon us.

18 posted on 05/24/2008 10:25:03 AM PDT by Drew68
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To: BenLurkin
I believe the “experts” underestimate the effect of $4/gallon gas on summer vacations. This weekend alone travel by car is off 15-20% and many have shortened trips. A crew of relatively well off guys I know have a rendezvous this weekend, every year about 200 miles from here. They moved it to within 50 miles for the first time in 20 years because of the cost of fuel. I see very few fill-ups at the C-store and the Quick Stops here used to be packed and now you can easily get gas with no wait.
19 posted on 05/24/2008 10:38:43 AM PDT by mad_as_he$$ (Will this thread be jacked by a Mormon?)
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To: abclily
Since most of them own oil stocks when will they run out of money?
20 posted on 05/24/2008 10:40:16 AM PDT by mad_as_he$$ (Will this thread be jacked by a Mormon?)
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