Posted on 08/11/2005 11:52:51 AM PDT by DownInFlames
Oil surges to $66 a barrel ... Developing
Damn! I wish I could do that.
And you missed the point that your "the military is using all the oil" theory is all wet.
Yeah they could stay at home and go on welfare since it no longer pays them to go to work.
Then all these small and large businesses that depend on deliverers could go out of business just think of the gas that will save.
The people can turn of their home utilities they can no longer afford, They can quit buying those groceries which fuel prices have driven so high.
What American workers need to do is pick out about five days and stay at home and let the politicians in Washington realize that they have obligations other than making themselves and their rich corporate buddies richer by bleeding American working class.The oil companies are the worst.
Our Government leaders and their partners in crime are bleeding us at the pumps and then they take billions of our tax dollars and pour into their already bulging pockets on the other end and call it an energy bill.
This was never about shortages or a non existent free market, only about pure unadulterated extortionist greed.
http://www.eia.doe.gov/emeu/cabs/china.html
Oil Demand in China
http://www2.chinadaily.com.cn:80/english/doc/2004-10/07/content_380099.htm
China Daily analysis
http://www.cbc.ca/news/background/oil/supply_demand.html
Multiple good sources of data including
Oil demand by country (in millions of barrels/day)
Country 2000 2001 2002 2003 2004
USA 19.70 19.65 19.76 20.03 20.52
China 4.80 4.92 5.16 5.55 6.63
Japan 5.61 5.53 5.46 5.58 5.44
Former Soviet Union 3.90 4.30 4.11 4.18 4.16
Germany 2.77 2.81 2.72 2.68 2.67
India 2.05 2.10 2.10 2.20 2.30
Canada 2.03 2.04 2.08 2.19 2.29
France 2.00 2.05 1.98 2.06 2.04
UK 1.76 1.72 1.77 1.72 1.86
Total World 76.95 78.10 78.44 79.89 82.63
Sorry, I don't do charts yet in HTML
blah, blah, blah. start your own oil company then. car pool, take public transportation, buy a horse, spend less on booze and hookers.
" And yes, my name is a tribute to that great actor Johnny Brown."
Excellent. What a great show 'Good Times' was. Too bad they wouldn't even dare to show it today.
Thank you - good sources and now bookmarked.
Commodity prices are supply/demand driven. The world needs xxx amount of oil per day and there is xxx amount per day pumped out of the ground. Demand has been growing faster for oil due to the emergence of China, India, SUV gas mileage, etc. Supply is constrained because the major oil fields are either in decline or pumping at maximum capacity. Hurricanes, terrorism, and any other risk associated with further limiting of supply will drive the price up but that is a supply driven issue....not an emotion driven issue.
"I take it you must be < 20 as anybody who lived through the 1970's know you ain't seen nothing yet ;) "
I was a mere child during that time myself, but I remember watching the news every night and seeing the lines at gas stations. One of those things you remember and don't know why.
TLR
Dear God we are all going to die! Quick does anyone have the number to a company that sells bunkers? and tinfoil - i need lots and lots of tinfoil.
I don't think it'll reach $105 per barrel this year... but I do think it's a good possibility that it might reach $80-$90 per barrel.
I don't hear much about oil companies actually expanding production or building refineries. Until they do, oil prices will continue to rise. There's no other way around it (increased demand + static supply levels = higher prices).
You're right that alternative fuels are now profitable. The Alberta tar sands and coal gasification come to mind.
Yet, I've not seen any news about any company doing anything about it.
So, until some company actually does something about it, the prices will continue to rise.
This is the first week that I've really felt the pinch of higher prices. We used to be able to fill up our little car (a Saturn) for $10-12; today it cost me over $20!
In light of this profiteering or whatever is going on, how does the concept of free enterprise figure in? Is there some kind of ring or cartel that is more powerful than Congress? Can't FedGov spring us loose from this worldwide business? Even though we import some 60% and that number seems to only increase.
Good questions. The Energy Lobbyist are more powerful than our congress because most of our representatives have personal investments in the energy, oil and gas sectors. The other problem of our government is that a reduction in gasoline is a reduction in the 18.4 cent a gallon tax and then the big highway bill gets shortchanged. Based on the current cost of gas, it's like an 8% federal tax and with that in mind the government really could care less where they get the gas from because they get their share
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