Oil prices hit 65/barrel

[kaharthemad]

Would be pretty nice to have some moneys invested in oil right now, with all the new high price and demand still high. huh.

I bet Bush and Cheney couldn't be happier about their oil invesments.

Strange I dont remember the same3 being said during the Carter administration. Or was that because of the big mean Arabs that time? Or are most of you too young to remeber gas rationing?

[mofish]

I sure am glad I didnt listen to those recruiters in high school. Then it might be my dad asking Bush why he got me killed in a deceptive, meaningless war.

Remember kids. Do NOT join the armed forces!

[xaoshaen]

I sure am glad I didnt listen to those recruiters in high school. Then it might be my dad asking Bush why he got me killed in a deceptive, meaningless war.

Remember kids. Do NOT join the armed forces!

Of course, FDR was pure and innocent leading America into World War 2. Democrats always tell their constituents the truth, and the armed forces are just pawns in a political game.

There are five lights!

[mofish]

Hey look at that, a neo-con deflecting criticism of the current administration onto a democrat! What a new and interesting tactic!

I will give you props for going all the way back to FDR though. Its usually Clinton, and sometimes Carter, that is used.

[xaoshaen]

Hey look at that, a neo-con

I'm not a neo-con

deflecting criticism of the current administration onto a democrat! What a new and interesting tactic!

I wasn't deflecting any critiscism, just pointing out your hypocrisy. Political partisans never cease to amaze me.

[Minrott]

Everyone who is not a liberal, I'm sorry, a progressive is a "neo-con." Didn't you get the memo?

[Zanchief]

You two are as much Neo-Cons as I hate America.

[Rust]

OPEC sets the price for oil... not the oil companies, not George Bush, and not Iraq.

OPEC sets the price of oil?

--R.

[Phlegm]

OPEC sets the price for oil... not the oil companies, not George Bush, and not Iraq.

OPEC sets the price of oil?

--R.

in a way they do since they control the output of oil.

[Rust]

OPEC sets the price for oil... not the oil companies, not George Bush, and not Iraq.

OPEC sets the price of oil?

--R.

in a way they do since they control the output of oil.

The quotas aren't always meticulously followed, you know.

--R.

[Phlegm]

OPEC sets the price for oil... not the oil companies, not George Bush, and not Iraq.

OPEC sets the price of oil?

--R.

in a way they do since they control the output of oil.

The quotas aren't always meticulously followed, you know.

--R.

Whether or not the quotas strictly enforced, the price of oil is still dependent on what OPEC does.

[Martrae]

Hmmm....trust in the UN that's right now being investigated for supplying items to Iraq in return for oil despite the embargo.

I'll have to think about that one!

[Phlegm]

Hmmm....trust in the UN that's right now being investigated for supplying items to Iraq in return for oil despite the embargo.

I'll have to think about that one!

If it's the oil for food program, the UN is investigating the reported bribes and kickbacks that some of the high ranking officials were getting from companies wanting to participate in the program.

[Rust]

Hmmm....trust in the UN that's right now being investigated for supplying items to Iraq in return for oil despite the embargo.

I'll have to think about that one!

Oh, the leaky embargo the US knew all about?

--R.

[Eziekial]

I am sure we sent a memo to the UN about it, and I bet it was a nasty memo at that.

[Rust]

I am sure we sent a memo to the UN about it, and I bet it was a nasty memo at that.

No, when it was Turkey and Jordan raking in cash from Oil-for-Food deals, the US was all in favor of that part.

--R.

[Alyn]

Alyn wrote:
Oil Companies pass on all costs to the consumer and are cleaning up in the current market. Take one look at Oil company stocks and you will see they are all way up.

The Bush Admin did not plan for Iraq to be less functional after the war than before it. They predicted Iraq Oil would pay for the whole clean up so the US taxpayers wouldn't have to.

Point is if things had gone according to the plans Bush had there would be a lot more oil coming out of Iraq. So they planned to lower oil prices they just failed to get the job done.

OPEC sets the price for oil... not the oil companies, not George Bush, and not Iraq.

Really - the ignorance and conspiracy theories just need to stop... it's getting ridiculous.

What conspiracy theory?

The Bushies said the war would pay for itself by pumping oil out of Iraq. More supply lower prices.

“Iraq, unlike Afghanistan, is a rather wealthy country. Iraq has tremendous resources that belong to the Iraqi people. And so there are a variety of means that Iraq has to be able to shoulder much of the burden for their own reconstruction.” – White House Spokesman Ari Fleischer, 2/18/03

“The oil revenues of Iraq could bring between $50 and $100 billion over the course of the next two or three years…We're dealing with a country that can really finance its own reconstruction, and relatively soon.” – Paul Wolfowitz, [Congressional Testimony, 3/27/03]



If the US controlled wells in Iraq were pumping oil prices would come down and we wouldn't be paying for the damn reconstruction. (ok we aren't paying for it we are borrowing it but someday we will pay for it)

That's what they were planning on. That's what they told us.

OPEC influneces oil prices they don't control them. They control supply of some of the countries pumping oil. Often members cheat and over produce and some oil is produced by non OPEC countries.

[Minrott]

I'm a neo-con like Canada is a tropical resort.

[Parv]

I pay about $50/month for my gas in my personal truck - God bless working for an oil service company that gave me a company vehicle and pays for the gas.

OPEC doesn't set prices. They only control production from their member nations. It's the speculators in the market and China/India's growth that are raising prices of oil. By the way most of our foreign oil comes from Canada and Venezuela - Middle East contributes reletively little.

Companies are posting record profits mainly because they're not investing that money into new projects. We're mostly scared of the bottom falling out like in the mid-80's, and don't want to be sitting on a ton of useless and costly infrastructure when it happens. It's been nearly 20 years since the industry has moved at the pace it's at now, and it's unsure how to proceed. My company just posted record sales and profits last quarter, but we did not expect it since our goal was about 20% lower. It screws things up because we're now wondering where we went wrong in our planning. Could we have invested more in designing and promoting a certain tool? Could we have hired more people to expand, or open more facilities? These things take time, and there's a gunshyness going around with the oldtimers (average age of people in the industry is over 50) about expanding and using our resources in new projects since they don't want to be left holding the bag. Looking at operators the situation is the same - they're just now beginning to look at exploration of new fields, GoM and North Sea will be getting a new start hopefully in the next few years. When it's a given that a new field will take several years of development before the first drop is produced though, companies are still playing it cautiously.

Personally, I say throw that money into better recovery methods, even if it's a loss initially. I'm all for moving ahead and displacing the risk-aversion that I see everyday and investing the money into long term projects. Yeah, we'll run out for all practical purposes someday. Rather than pissing and moaning though I'm working towards postponing that date. Hopefully we'll have adjusted our lifestyles and find practical alternative energy sources by then.

[Gaazy]

we are at about 2.50, my new truck has a 26 gallon tank, sigh


what size tank is on yours Lyion?

[Lyion]

OPEC doesn't set prices. They only control production from their member nations. It's the speculators in the market and China/India's growth that are raising prices of oil. By the way most of our foreign oil comes from Canada and Venezuela - Middle East contributes reletively little.
.

I think your analysis is spot on, Parv, and you obviously know the industry, but I would argue the price is set by OPEC and their charges.

OPECS basket price is currently 58.28. I'd think that is setting worldwide prices a tad higher than when it was 25.

[Themosticles]

Never fear...Problem Solved!

WASHINGTON, DC—President Bush unveiled an aggressive initiative Monday that would make the U.S. free of petroleum dependence by the year 4920, less than three millennia from now.

"Our mission is clear," Bush said in a speech delivered at Fort Bragg in North Carolina. "We must free ourselves from dependence on fossil fuels within 85 generations. A cleaner, safer America is my vision. And it is our great, great—great-times-80 grandchildren who will realize that vision."

Bush promised a legislative package that would mandate severe cuts in oil-production subsidies and provide new funding for alternative-energy research and development. According to the timetable he presented, these bills could be introduced as early as 3219, and U.S. energy consumers could start to see radical changes by the early 42nd century.

"If we don't end our dependence on oil by 4920, when will we end it? 5580? By then, it may be too late," Bush said.

Bush called on both Democrats and Republicans living 1,200 years from now to work together to pass the program.

"It would be a shame if, by the 33rd century, these bills were still tied up in committee. I urge the 712th Congress to pass this legislation with minimal partisan gridlock," Bush said.

The president's science advisor, John Marburger, provided more details of the energy plan in a press release issued late Monday.

"It is the president's hope that hydrogen fuel cells, nanotechnology, or the recycling of human beings into fuel will hold the key," Marburger wrote. "Whatever the people of the 50th century feel is appropriate."

In a detailed policy statement, Bush elaborated on the plan, expressing the hope that a third party, perhaps one comprising robots or super-intelligent, genetically engineered man-beasts, will help reduce America's dependence on fossil fuels.

"I am calling on the popularly elected cyborgs of tomorrow to support this sensible measure to ensure the security of the nation," Bush said.

Some industrialists, particularly major auto manufacturers, expressed reservation over Bush's initiative.

"As admirable as Mr. Bush's visionary pronouncement is, I worry that the timetable he proposes is far too ambitious," General Motors CEO Richard Wagoner Jr. said. "It is simply not realistic. The automotive industry would require an additional three or four thousand years to develop engines that can run effectively on renewable or cleaner-burning fuels."

Exxon Mobil CEO Lee Raymond said the petroleum-producing company shares Bush's hopes for a cleaner environment "well before the sun turns into a red giant and dies."

"Mobil Oil has already made great strides in protecting the precious air and water within the television-commercial environment. And we plan to golf closely with the U.S. Department of Energy and oil-industry lobbyists to ensure that President Bush's initiative comes to pass in the unimaginably distant future."

Responding to reporters' questions, Bush admitted that our progeny could face challenges in pursuit of the goal, such as the earth's degrading orbit and eventual destruction of the moon by tidal force, or the Second Coming of Jesus Christ.

"Our distant relations will have some hard work to do," Bush said. "But hard work is what built this nation, and I have every faith that they will succeed."

The proclamation comes on the heels of Bush's plans to pay off the national debt by the early 6300s, and win the war on terror by 7450.


Article Found Here

[Lyion]

we are at about 2.50, my new truck has a 26 gallon tank, sigh


what size tank is on yours Lyion?

Same. Over 60 dollars to fill up my truck today.. Ow, ow, Fking Ow.

[Lyion]

Just to spread the love, because I'm in a foul mood.. Here's state gas prices by grade

State Regular Mid Premium Diesel
Alaska $2.521 $2.669 $2.821 $2.552
Alabama $2.448 $2.617 $2.695 $2.478
Arkansas $2.436 $2.570 $2.733 $2.482
Arizona $2.535 $2.644 $2.796 $2.794
California $2.765 $2.943 $2.992 $3.129
Colorado $2.475 $2.647 $2.766 $2.598
Connecticut $2.563 $2.782 $2.855 $2.705
District of Columbia $2.631 $2.802 $2.886 $2.669
Delaware $2.559 $2.718 $2.838 $2.573
Florida $2.532 $2.743 $2.793 $2.583
Georgia $2.489 $2.676 $2.794 $2.477
Hawaii $2.740 $2.898 $2.952 $2.933
Iowa $2.446 $2.575 $2.698 $2.494
Idaho $2.449 $2.585 $2.656 $2.734
Illinois $2.627 $2.826 $2.914 $2.652
Indiana $2.536 $2.729 $2.806 $2.541
Kansas $2.500 $2.567 $2.667 $2.552
Kentucky $2.478 $2.658 $2.778 $2.449
Louisiana $2.432 $2.592 $2.713 $2.475
Massachusetts $2.547 $2.739 $2.843 $2.616
Maryland $2.582 $2.746 $2.815 $2.582
Maine $2.497 $2.694 $2.769 $2.563
Michigan $2.590 $2.742 $2.853 $2.601
Minnesota $2.480 $2.579 $2.646 $2.506
Missouri $2.444 $2.543 $2.692 $2.443
Mississippi $2.442 $2.576 $2.692 $2.454
Montana $2.439 $2.543 $2.666 $2.648
North Carolina $2.487 $2.639 $2.755 $2.504
North Dakota $2.522 $2.609 $2.703 $2.553
Nebraska $2.550 $2.607 $2.680 $2.553
New Hampshire $2.483 $2.689 $2.785 $2.550
New Jersey $2.463 $2.640 $2.740 $2.475
New Mexico $2.555 $2.721 $2.839 $2.597
Nevada $2.666 $2.810 $2.913 $2.901
New York $2.594 $2.775 $2.834 $2.725
Ohio $2.506 $2.673 $2.780 $2.568
Oklahoma $2.421 $2.503 $2.643 $2.422
Oregon $2.595 $2.738 $2.778 $2.818
Pennsylvania $2.507 $2.643 $2.760 $2.636
Rhode Island $2.596 $2.762 $2.853 $2.643
South Carolina $2.398 $2.550 $2.673 $2.423
South Dakota $2.545 $2.708 $2.819 $2.536
Tennessee $2.430 $2.573 $2.696 $2.433
Texas $2.477 $2.620 $2.714 $2.474
Utah $2.397 $2.528 $2.638 $2.724
Virginia $2.476 $2.598 $2.697 $2.474
Vermont $2.443 $2.628 $2.742 $2.634
Washington $2.642 $2.737 $2.873 $2.849
Wisconsin $2.594 $2.693 $2.817 $2.588
West Virginia $2.545 $2.661 $2.794 $2.579
Wyoming $2.377 $2.478 $2.640 $2.547

http://www.fuelgaugereport.com/sbsavg.asp