Posted on 04/21/2006 10:46:54 AM PDT by Rutles4Ever
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.
I just work with what you give me.
"Just breaking open the seams of coal that underlie many parts of the US, and using the Fischer-Tropsch process, we can produce more fuel stocks than we are likely to import from foreign sources for the next fifty years. In a word, self-sufficiency."
Pennysylvania and Colorado are two states with 3 such plants operational, with more Federal funding coming to open 15-25 new plants by 2010. This will replace a full 30% of Arab oil. Cellulosic ethanol and biodiesel with replace another 30% by 2010.
"Designs for nuclear power generation plants, using technology developed since the last round of plants were built in this country some thirty years ago, should become one of our crash goals, starting a new plant every two weeks for the next five years, and getting them on line within three years of beginning construction."
Well that my friend is a lot easier said then done. Right now we need to look at this as the next Manhatten Project but it won't be, because you have too much lobbying from big oil in Washington. That means the private sector will likely be the ones to build plants, but don't expect this anytime soon.
I saw a guy yesterday in the local station complaining to everyone how he cannot afford these gas increases. The whole time in line while moaning he has a twelve pack under each arm at probably $10 per. And from his looks that would last him two days. Uh, stop drinking and apply that too gas. Would be much better off.
Look , I hate having to pay more for gas. My wife and I make around 75k per year. Not rich, but not struggling too mightily either. But once I get past the hysteria, it isn't affecting us all that much. We just cut back on some other little things. We had a normal Friday night ritual of ordering pizza for us and the three kids. Now we do it every two weeks. Saves $60 a month right there. That is probably more than the the difference in our fuel costs monthly.
I feel bad for those who are really struggling. I just question how many are really that strapped, or maybe they just need something to complain about. Smart choices can make a world of difference.
"What the heck do they need to market for?"
Marketing = commercials on how Exxon, BP and others are trying to save our ecology by drilling smarter.
If you can telecommute, your job can be outsourced to India for half the salary. Be careful what you wish for.
There are a lot of significant downsides to outsourcing, as many have learned in the last few years.
If companies, which are able to, allowed 25% of their employees to telecommute one day a week, it could have a significant impact on oil consumption and traffic congestion.
I honestly don't know when it comes to a percentage, but enough to make some profit, not overlow their pockets.
overlow = overFlow
Then I take it you have read and understand "him" ... (L.R. Raymond's) contract and think because of it, gas prices are skyrocketing?
"Let's face facts. With the government-approved mergers of big oil companies, competition is dead. The oil companies are no different than the federal government. One raises taxes. The other raises prices."
Competition to do what? Pay the market price for a barrel of crude? Competition to build refineries that are cost prohibitive in the U.S.?
Your solution would be?
In the same breath you say that throwing $400 mil down this guy's fat throat is fine but building or upgrading a refinery is too expensive? It just doesn't seem sensible for a company to throw away its money like that.
At least a refinery will result in future company growth and profit. Hopefully Exxon won't be whining for a government bailout when oil tanks and they've pissed away their last billion.
We have no debt, other than a 100,000 balance on our mortgage.
Mutual funds and gold. Where all of our extra cash goes.
We just bought 10 oz of gold at $630 per.
"He said he gets in his car at 5:00am, drives up the road to big Shell/Exxon/Mobil/BP corner of gas stations, and sets his price $0.01 less than the cheapest price."
If his car get 15 miles to the gallon and he fills his tank at his own gas station before he leaves and drives 8 miles one way only to top off the tank at his competetitors gas station before returning and repeats this process every morning, will he profit or gain?
Soros
"all I know is I am sick of paying $3 a gallon for gas..."
Better get used to it.
It's going to get worse.
Europe pays $6.00 a gallon.
I;m not happy about this either.
Don't forget the taxes!
I don't think we passed the bill to not tax inheritance, did we? Even if we did they'll be taxed to death while all are living.
Shhhhhhhhhhhhhh ... we're a SOCIALIST nation.
"Isn't $3.00 a gallon pretty cheap compared to other countries?"
yes, it's dirt cheap. Europe pays $6.00 and up per gallon.
"He also needs to have a plan for alternative sources of energy. If Brazil can convert to ethanol, why can't the U.S.?"
We can and we are. Brazil started this in the 80's when dictators ruled the country. The only good thing they did for the country was force mass ethanol refinery build & distribution and subsidized the industry. The government recouped it's investment by forcing the people in the 90's to buy the drastically more expensive ethanol blend. Brazil now produces enough supply for the entire population but at certain times they migrated, brief shortages appeared.
The USA uses 500 times more gasoline then Brazil. To scale up our own ethanol production takes time. Brazil had the perfect crop for cellulosic ethanol from sugar cane. Here in the states, we have ample corn but are still perfecting the blend to not corrode metal pipes so it can be shipped this method instead of truck/train. Shipping truck/train adds a big cost to the product. Then we have to build more ethanol refineries and those pipelines which both take years.
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