Fuel Prices got you down?

[ACoyle]

Everyone who suggested "If they are in - they need to go out", in my opinion is on the right track. The folks in there are not working for us. Some of the ones that come in new will not work out, but, we are suffering from decades of we, the people, not caring enough to vote. If we didn't care, how can we expect them to care.



For the immedaite moment, It does look grim.



AC

 

[JesseJ]

Listen to the politicians grilling the oil execs. Basically came right out and said it, I want to socialize all of your companies and create a state owned oil company. These peopl in D. C. are nuts! The only good thing I see about high prices is maybe enough people will yell loud enough and long enough to be heard over the nutjob tree huggin environmentalists and let them drill!

 

[TFucili]

Sorry for the repeat post, but it applies to this thread, as well.

This testimony shows how speculators are influencing the market, and how the government has eliminated or loopholed some basic, prudent safeguards to prevent excessive speculation. Reasonable oversight is not akin to socialism IMHO.

 

[RGardner]

Now if congress will just act on the information!

 

[Crazy Horse]

[QUOTENow if congress will just act on the information!][/QUOTE]



No wait---They can't, they are grilling the Oil Companies on their high profit margins!



Post From Another Thread.

[QUOTEThis is the note I dropped to all of my Senators, Congressmen, and Represenatives in my location:



I had to laugh at today's news on the channel 7 at 12:00 here in Greenville/Spartanburg SC.



Quoted Headline:

"Oil industry execs go before a House panel after Senate grilling"



Why all the questions now? They (Oil Co's) are just like anyone else in business. Development in this country has been shut down for years. Closing ANWR and other oil rich fields in this country. These politicians have made it advantageous for the Oil Companies to look overseas for a profit.



These questioning "Senators" have no one to blame but themselves. And I hold these Senators and politicians responsible for their own cause of this "Oil Industry" we have today.



Let's stop passing the buck. Get the oil companies back in this country. ][/QUOTE]

 

[RGardner]

at least in my part of the country they are drill almost nonstop. there is plenty of oil and natural gas. have you ever not been able to fill up? have they ever said sorry you won't be able to heat your home with natural gas this week? No! There is no shortage!

 

[Tractorat]

Ah, I remember the good old days when diesel was only $3. 80/gal.



TRat

 

[DennyDay]

I remember the gooder OLDER days when diesel was about 60% of the cost of gasoline - - - and gasoline was $0. 35/gallon.



Just wait - - - we'll consider 2008 "The Good Old Days" in a few more years



Denny

 

[Tractorat]

The way things are going, we'll think of May 2008 as the good old days by this coming Sept 2008

 

[DennyDay]

I hate it when that happens!!



Denny

 

[TAbbott]

Here's some more pitiful news... .



The average retail diesel price continued its meteoric rise last week, surging another 16. 6 cents to a record $4. 497 a gallon, according to the Department of Energy.



Further price increases at the pump seem all but certain as crude oil soared as much as $11 a barrel between May 15 and May 22, briefly rising above $135 for the first time.



“There's no hope for diesel because crude is up so high,” Mary Novak, an energy analyst with Global Insight, said.



Record crude prices have tempered diesel demand in North America and Europe but are doing little to reduce consumption in “emerging economies” such as China and India, she said.



That means “diesel prices effectively can't correct,” Novak said.



The diesel increase last week followed an 18. 2-cent spike the previous week, which was the largest one-week gain since October 2005, DOE said.

 

[HBarlow]

at least in my part of the country they are drill almost nonstop. there is plenty of oil and natural gas. have you ever not been able to fill up? have they ever said sorry you won't be able to heat your home with natural gas this week? No! There is no shortage!

You can continue posting that forever but it will not become true or accurate.



The shortage that is driving prices up is a worldwide shortage of crude oil at the well.

 

[RGardner]

HBARLOW,where do you get your info? I have never seen a shortage of fuel, I can always buy fuel. Even OPEC says there is no problem with supply. It is mostly a speculation problem, I am beginning to think that you have a vested interest in this game!

 

[Tractorat]

I agree with you. Peak oil production isnt supposed to happen for another 50 years. Although the al gore crowd is trying to say it will happen within the next few years.



If you think that there is an oil shortage now, I dont understand why you would own a diesel truck ? You should be driving a hybrid or riding a bicycle.

 

[JesseJ]

I saw Mr. T Boone Pickens on T. V. last week. He claimed that world oil production was 85 million barrels a day and world consumption was 86. 4 million barrels per day. He is an oil man who is in the know, so who knows, maybe he's right. On the other hand, I would have to agree with Barlow that at least here in the U. S. there hasn't been any place running out of fuel, otherwise the media would've been all over it and we would've heard about it.

 

[Tractorat]

Im not sure that I would believe anything that tb pickens has to say. He is one of the speculators that is causing the insane rise in oil prices.



1. If what he says is true, it is in his interest to make sure that everyone knows about it. That would help to increase the price of oil.



2. If what he says isnt true, it is in his interest to make everyone think it is true anyway. That would help to increase the price of oil



The Saudi's said that no one is going without oil. They will sell, and have been selling, and will continue to sell, oil to anyone that asks.



When bush pleaded with them to increase oil production to lower our energy cost, they turned him down. Not because they couldnt product more oil, it was because it is in their interest to keep the price up.

 

[JesseJ]

I suppose you have a good point, however, it was also made public that Pickens is dumping $10 Billion into 667 wind turbines and creating what will eventually become the worlds largest windfarm in Oklahoma. Now, for an oil man to be investing in something besides oil, and he's convinced that we've already passed peak oil production worldwide, that says something. He also pointed out that before we can boost worldwide production, we have to make up the 6 million barrels a day we're losing due to oil fields drying up. He said we have to make up the 6 million before we can boost production above the 85 million a day or whatever it is now. I'm not convinced we've reached peak production, because we keep finding new oil fields and are applying better technology to existing fields to extract more than what was thought possible previously, BUT, oil is a finite resource. It will run out at some point, when is the billion dollar question.



As for the saudis not increasing production, I'm with you on that one. They want prices as high as possible to make more money. Nobody in OPEC has spent any of their billions of oil money in investing in better technology to increase daily oil production in decades and they have no reason to. The more they pump, the cheaper it gets and the faster they run out of oil. It's a lose lose situation for them. On the other hand, the saudis had to have been laughing themselves silly when Bush comes to them hat in hand begging for more production when they know just as well as we do that we have plenty of our own oil, but the nutjobs in congress won't let us drill for it!#@$%!

 

[Tractorat]

JesseJ

I think that you and I are probably mostly on the same page. However, I would bet that Picken's interest in the wind farms is because he knows that is the future for non-vehicular power. Not because of a possible oil shortage, but because we will be building wind farms, solar farms, and (I hope) nuclear plants (at some point).



I dont think that Pickens is an oil man, per se. I've always heard of his being a corporate raider. He plunders companies and industries and makes a huge profit for himself. And (someone correct me on this if I am wrong), quite often the corporation (or industry) is a hollow shell of itself after he's picked it dry.



I do have a concern about someone like Pickens (or an oil company for that matter) taking the lead in alternative power. They know how to make energy hugely expensive now, and want to continue that in whatever endeavor they go after.



My 2cents.



TRat

 

[JesseJ]

I don't think it's the oil companies making energy hugely expensive right now. It's a complete lack of a common sense energy policy in the U. S. for decades.



If we had any brains, we'd be building tons of nuke plants and wind farms to replace all our coal plants. The tree huggers want it both ways though. Coal is bad because of global warming and nuke power is bad because of waste disposal. Well, one or the other, we need energy! Just think, enough nuke plants to replace coal power and then we have all the coal we could ever need for coal to diesel technology!

 

[Tractorat]

Once, again, you and I are certainly on the same page.



And I am very embarrased to say that the senators from our state are the ones that stopped drilling in anwr, instrumental in stopping drilling and new refineries in other states besides Washington, and are now the ones trying to investigate the oil companies as to why fuel is so high.



And Im even more embarrased to say that they will both probably get relected again.