oil skyrocketing again

[Tractorat]

I dont care what the gov is saying, any thinking person can tell that the end of the recession is no where in sight. People are still losing jobs, and sales of just about everything is still going down.



Even oil stockpiles have been going up in the last few months, the price of diesel/gas has not really gone down. In fact, diesel has gone up. Because of the stockpile of oil, the oil suppliers have now cut production. Oil is now almost $80.



JPMorgan (for example) has just posted huge profits. And guess what. According the newspaper (I know, consider the source), those profits are not from banking operations. They are from trading stocks, and commodities (oil, gas, etc). In other words, they are again speculating on oil and causing the price to go up. I wonder where congress is on this ? Where is the news media on this ? I havent even heard it mentioned on fox news or cnn.



Im just venting. But, I bet a lot of other people have noticed the raping of america and the world again. But, Ill bet that this time nobody even mentions anything.



TRat

 

[2Rowdy]

I for one will be praying it stays at $80. 00 a barrel. Majority of my lively hood depends on oil field service companies.

 

[JUeckert]

i like to see a happy medium on this subject. fair prices, too high a price hurts more then too low from what i see. too low and a lot of folks are out of work, too high and everything goes up, includeing the cost of buisness. this of course can lead to a lot of buisneses folding.

 

[HBarlow]

I dont care what the gov is saying, any thinking person can tell that the end of the recession is no where in sight. People are still losing jobs, and sales of just about everything is still going down.

Even oil stockpiles have been going up in the last few months, the price of diesel/gas has not really gone down. In fact, diesel has gone up. Because of the stockpile of oil, the oil suppliers have now cut production. Oil is now almost $80.

JPMorgan (for example) has just posted huge profits. And guess what. According the newspaper (I know, consider the source), those profits are not from banking operations. They are from trading stocks, and commodities (oil, gas, etc). In other words, they are again speculating on oil and causing the price to go up. I wonder where congress is on this ? Where is the news media on this ? I havent even heard it mentioned on fox news or cnn.

Im just venting. But, I bet a lot of other people have noticed the raping of america and the world again. But, Ill bet that this time nobody even mentions anything.

TRat

TRat,

The last things I want to happen is for the congress to even notice the price of oil or prices at the pump.

 

[Ken55]

$3. 07 a gal at one station by me yesterday! Others are pennies under $3. 00. Sure hate the thought of prices climbing to where they were a couple summers ago.
Ken

 

[Cummins Cowboy]

IMO oil prices are what caused the recession, my family was paying about $600/mo more than we are no at the peak of the fuel prices, diesel hit 4. 71/gal where I live, that is about $170 to fill up my trucks tank.

when fuel is this expensive it WILL have an effect, there is no way it can't most families don't have this much extra in discretionary money. the sad thing with obama there is nothing to stop the fuel prices as everyone knows nothing will be done to expand exploration, the secretary of the interior just shut down a bunch of leases that were ALREADY sold

 

[Regcabguy]

IMO oil prices are what caused the recession, my family was paying about $600/mo more than we are no at the peak of the fuel prices, diesel hit 4. 71/gal where I live, that is about $170 to fill up my trucks tank.



when fuel is this expensive it WILL have an effect, there is no way it can't most families don't have this much extra in discretionary money. the sad thing with obama there is nothing to stop the fuel prices as everyone knows nothing will be done to expand exploration, the secretary of the interior just shut down a bunch of leases that were ALREADY sold

Bush didn't do much either in the way of domestic production other than attempting to open up Alaska more. Congress promptly shut that down. The Greens just can't fathom the idea that harvesting domestic supplies will fund the cleaner innovations of the next couple of decades. We'll do it cleaner here,create jobs here and the taxes will stay here. Corporate and personal greed(buying on credit what you want vs what you need with cash) contributed to bring us down along w/high energy prices. I just paid $2. 99.

 

[Dieselnut59]

150 gallons of diesel (@ $2. 67/gal) = $400. 50 + 150 gallons of used cooking oil (free, after pumps/filters were paid for) = $1. 335/gal

 

[Ncostello]

Anyone who thinks the Obama administration is going to sympathize with us over the cost of oil, or the supply of oil is daydreaming.



Remember... it is they who think we are an evil country for comsuming "25%" of the worlds resources while only being "5%" of the worlds population. To them, its high time we stop being a "superpower" and consuming all the oil for things like production, transportation and growth. To them... its the rest of the worlds turn and we should just sit back and be happy we made it as far as we did before being stopped.



Its my opinion that we haven't seen nothin yet.

 

[DCreed]

Bush didn't do much either in the way of domestic production other than attempting to open up Alaska more. Congress promptly shut that down. The Greens just can't fathom the idea that harvesting domestic supplies will fund the cleaner innovations of the next couple of decades. We'll do it cleaner here,create jobs here and the taxes will stay here. Corporate and personal greed(buying on credit what you want vs what you need with cash) contributed to bring us down along w/high energy prices. I just paid $2. 99.

It never has before, why would they do it now? Every time oil skyrockets, new more efficient vehicles arise.

When oil was cheap in late 60's to early 70's what did the cars look like? then in the late 70s they were all downsized to econo-boxes and foreign auto builders (who already make small cars) gained a foot-hold on domestic sales.

oil prices leveled off in the 80s and the economy started to build back up. what happened? We were sold SUVs under the guise of safety and comfort, just like the land arks of the 70s! So it only gets 8mpg, its a Hummer !

Now with oil high again, you cant give someone an SUV, and eco-boxes are the craze.

If you think congress isnt aware of whats happening, think again. There have been countless reports on where money is being funneled and who is vested in what. They know EXACTY whats going on and are profiting immensely.

As long as crude is a stock to be traded, it will be manipulated just like any other. What makes it such a big deal is that the worlds economy is literally fueled by oil and subsequently rises and falls with the trends. The only protection the US has from that is a diversified portfolio, not putting all your eggs in one basket.

When the fed. reserves were opened, what happened? the price of crude GLOBALLY dropped. Why? Oil is NOT "owned" by the US. Its oil companies are global like all the rest. So if/when we drill more in the US the price of crude WILL NOT CHANGE. The market will simply adjust and production/refineries will slow to keep demand/profits high.

Just like they do now.