Doc
Well-known member
Here's a pretty good article on what could happen to gas prices if Liebermans' bill passes. http://www.businessandmedia.org/articles/2008/20080515172437.aspx I need to hear Knabes' take on it.
$5 gas
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justintime
Well-known member
Oil analysts here are predicting gas prices will double by 2012... which is only 4 years from now. The world as we know it, may never be the same again. This is going to cripple many people, and many countries. It is almost obscene what the oil companies are making now. I know that they deserve to make substantial profits for the risks they take in exploration and oil development, but what is happening today is beyond anything reasonable. Last year, EnCana, Canada's largest oil company set a record for the highest profit ever reported by a company in Canada. Here where I live, there are over 300 drilling rigs presently drilling. The oil wells are flowing wells, so they put the pipe lines in before they are drilled so that the oil can be taken away once they are hit the pay zone.The costs of drilling are completely paid for before the pipe can bhe pulled out of the ground. If passed, I think Lieberman's bill will only lead to even bigger profits for the oil companies.... and a bunch more jobs for a much too large bureaucray now.
knabe
Well-known member
only one word is necessary.
friedman.
but here's a few more. i don't know who can drive up oil prices faster, democrats or bin laden. it seems like a contest. at some point, both will have to pay for their foolishness. but not before the golden calf is made. liberals have not yet brought their assets together to glorify themselves.
friedman.
but here's a few more. i don't know who can drive up oil prices faster, democrats or bin laden. it seems like a contest. at some point, both will have to pay for their foolishness. but not before the golden calf is made. liberals have not yet brought their assets together to glorify themselves.
garybob
Well-known member
The key word, here, is ( censored)!
Democrats aren't the only ones to blame here. 90% of Corporate Executives are "Conservatives" , so what We're seeing here, is the result TWO selfish agendas, not just one.
That's why I believe Knabe is right. The Golden Calf is being cast by Satan as we go on about our lives, thinking that this is just another day in the modern world. "Incrementalization". Nothing else needs to be said.
GB
Democrats aren't the only ones to blame here. 90% of Corporate Executives are "Conservatives" , so what We're seeing here, is the result TWO selfish agendas, not just one.
That's why I believe Knabe is right. The Golden Calf is being cast by Satan as we go on about our lives, thinking that this is just another day in the modern world. "Incrementalization". Nothing else needs to be said.
GB
OH Breeder
Well-known member
I drive alot for living. 50 cents a mile isn't going to cut it if the price of fuel goes up any more.Oil change, wear and tear, tires and fuel for 50 cents/mile. it is nothing to log 1000 miles a week. It is making me cringe. 
knabe
Well-known member
yippee said:
i had an uncle tell me the same thing about wheat. it simply isn't true. i used to believe it, but it isn't true. futures traders actually keep prices predictable by locking in a price they feel they can make a profit at. if there were no traders, chavez and the middle east would rule the day and hold us more in ransom. out here, there is absolutely no evidence from those on the left to add any supply.
again, one reason oil makes so much money is due to consolidation, not profit margin. apple computer has a 28% profit margin. the company i am going to work for has a profit margin in the multiple of hundreds. when i get there i will calculate it, but it doesn't seem out of the question that it would be more than that. lawsuits, response to drugs, turnover to new drugs is simply to risky to not research and monitor response. it's pretty clear medicine is becoming tailored fast. some situations won't have time to test too many drugs before one works. you will need to know beforehand and what potential side effects will be. this is the reason for the rapid turnaround, and the profit margin opportunity.
Doc
Well-known member
Saudis see no reason to raise oil production now By JENNIFER LOVEN, Associated Press Writer
Fri May 16, 4:31 PM ET
RIYADH, Saudi Arabia - Saudi Arabia's leaders made clear Friday they see no reason to increase oil production until customers demand it, apparently rebuffing President Bush amid soaring U.S. gasoline prices.
ADVERTISEMENT
It was Bush's second personal appeal this year to King Abdullah, head of the monarchy that rules this desert kingdom that is a longtime prime U.S. ally and home to the world's largest oil reserves. But Saudi officials stuck to their position that they will only pump more oil into the system when asked to by buyers, something they say is not happening now, the president's national security adviser told reporters.
"Saudi Arabia does not have customers that are making requests for oil that they are not able to satisfy," Stephen Hadley said on a day when oil prices rose above $127 a barrel, a record high. "What the Saudis wanted to tell us was we're doing everything we can do ... to meet this problem, but it's a complicated problem."
The Saudi oil minister, Ali al-Naimi, announced that the kingdom decided on May 10 to raise production by 300,000 barrels at the request of customers, including the United States. He said that increase was sufficient.
"Supply and demand are in balance today," he told a news conference. "How much does Saudi Arabia need to do to satisfy people who are questioning our oil practices and policies?"
Bernard Picchi, an energy analyst at Wall Street Access, an independent research firm, said the 300,000-barrel Saudi production increase was "a token amount" that is not expected to have much impact on prices.
It would be different, he said, if Saudi Arabia boosted production by 1 million or 1.5 million barrels a day. The announced increase will have Saudi Arabia pumping 9.45 million barrels a day by June, Saudi officials said. That's about 2 million barrels below its capacity.
Oil prices advanced Friday as traders, unimpressed by efforts to boost supply, kept buying on the expectation that prices would keep setting new records.
Saudi Arabia often adjusts its output to meet demand, and the increase coincides with the start of the peak driving season in the U.S. "It's a way to raise production without raising production," said Phil Flynn, analyst at Alaron Trading Corp. "I think it was a way to save face."
Hadley never mentioned the Saudi's new production in his recap with reporters. He said the Saudis briefed Bush again on their plan to increase their production capacity over time. They also argued that even an increase would be unlikely to bring down the soaring prices, driven more by uncertainty in the market, lack of refining capacity for the type of oil readily available and other complicated dynamics, he said.
Economists say prices are being driven up by increased demand, not slowed production. Energy-guzzlers China and India are stretching supplies.
As a result, Hadley suggested the White House was satisfied with — or at least accepted — the Saudi response. He added, however, the Bush administration will see if the explanation "conforms to what our experts say."
Saudi Foreign Minister Saud al-Faisal said the discussion with Bush about oil was friendly. "He didn't punch any tables or shout at anybody," the minister said. "I think he was satisfied."
High energy costs are a major drain on the U.S. economy, which is experiencing a slowdown that some think is already a recession. At the pump, gas prices rose to a national average of $3.78 per gallon on Friday, according to a survey of stations by AAA and the Oil Price Information Service.
When Bush and Abdullah met in the kingdom in mid-January, the president also sought more Saudi output in a plea that also ultimately was for naught.
Iran was the other dominant topic of Bush's overnight visit with the king.
The two shared a concern over the recent violence in Lebanon, where Hezbollah overran Beirut neighborhoods last week in protest of measures aimed at the group by the country's government. The display of military power by the Shiite militant group, which the U.S. considers a terrorist organization, resulted in the worst internal fighting since the end of Lebanon's 1975-90 civil war.
With Shiite-dominated Iran backing Hezbollah, Sunni-dominated Saudi Arabia — eager to stop any advance of regional power by Tehran — joins the West in supporting Lebanon's government. Hadley said Bush and Abdullah shared a concern that the recent events would "embolden Iran." The U.S. and Saudi Arabia, he said, "are of one mind in condemning what Hezbollah did."
On Thursday, Hezbollah and the government reached a deal to end the violence after Lebanon's Cabinet reversed measures aimed at reining in the militants.
Bush's Saudi stop was intended, in part, to celebrate 75 years of formal U.S.-Saudi relations and strengthen ties that, once strong, have frayed over the perception Washington favors Israel too much in the dispute with the Palestinians, the Iraq war and the Sept. 11, 2001 attacks. Fifteen of the 19 airline hijackers were Saudis, and Americans blamed Saudis for allowing the religious extremism that gave rise to them, an accusation that stings here.
Bush was spending the day with Abdullah at his lavish farm complex outside Riyadh, talking mostly out of public view over multiple tea services and meals. Abdullah greeted Bush warmly at the airport, and rode with him in his limousine out into the desert.
The White House hoped that new agreements formalized during Bush's visit would give the relationship a boost.
Among them was an agreement for the U.S. to assist the kingdom in developing civilian nuclear power. Another agreement involves U.S. promises to help protect any Saudi nuclear infrastructure with training, the exchange of experts "and other support services as needed." Hadley said it would not involve U.S. troops.
But the rising price of oil commanded attention.
When Bush first ran for president in 2000, he criticized the Clinton administration for high fuel prices and said the president must "jawbone" oil producing nations and persuade them to drop rates. At that time, oil was nearing $28 a barrel — less than a quarter what it is now.
Bush's visit comes two days after Congress voted to temporarily halt daily shipments of 70,000 barrels of oil to the nation's emergency reserve.
After Bush's talks on Friday, his administration announced in Washington that it has canceled oil shipments into the reserve beginning in July, when the current purchase contract expires. Bush has refused to stop pouring oil into the Strategic Petroleum Reserve, saying the stockpile was meant for emergencies and that halting the shipments would have little or no impact on gasoline or crude oil prices.
Fri May 16, 4:31 PM ET
RIYADH, Saudi Arabia - Saudi Arabia's leaders made clear Friday they see no reason to increase oil production until customers demand it, apparently rebuffing President Bush amid soaring U.S. gasoline prices.
ADVERTISEMENT
It was Bush's second personal appeal this year to King Abdullah, head of the monarchy that rules this desert kingdom that is a longtime prime U.S. ally and home to the world's largest oil reserves. But Saudi officials stuck to their position that they will only pump more oil into the system when asked to by buyers, something they say is not happening now, the president's national security adviser told reporters.
"Saudi Arabia does not have customers that are making requests for oil that they are not able to satisfy," Stephen Hadley said on a day when oil prices rose above $127 a barrel, a record high. "What the Saudis wanted to tell us was we're doing everything we can do ... to meet this problem, but it's a complicated problem."
The Saudi oil minister, Ali al-Naimi, announced that the kingdom decided on May 10 to raise production by 300,000 barrels at the request of customers, including the United States. He said that increase was sufficient.
"Supply and demand are in balance today," he told a news conference. "How much does Saudi Arabia need to do to satisfy people who are questioning our oil practices and policies?"
Bernard Picchi, an energy analyst at Wall Street Access, an independent research firm, said the 300,000-barrel Saudi production increase was "a token amount" that is not expected to have much impact on prices.
It would be different, he said, if Saudi Arabia boosted production by 1 million or 1.5 million barrels a day. The announced increase will have Saudi Arabia pumping 9.45 million barrels a day by June, Saudi officials said. That's about 2 million barrels below its capacity.
Oil prices advanced Friday as traders, unimpressed by efforts to boost supply, kept buying on the expectation that prices would keep setting new records.
Saudi Arabia often adjusts its output to meet demand, and the increase coincides with the start of the peak driving season in the U.S. "It's a way to raise production without raising production," said Phil Flynn, analyst at Alaron Trading Corp. "I think it was a way to save face."
Hadley never mentioned the Saudi's new production in his recap with reporters. He said the Saudis briefed Bush again on their plan to increase their production capacity over time. They also argued that even an increase would be unlikely to bring down the soaring prices, driven more by uncertainty in the market, lack of refining capacity for the type of oil readily available and other complicated dynamics, he said.
Economists say prices are being driven up by increased demand, not slowed production. Energy-guzzlers China and India are stretching supplies.
As a result, Hadley suggested the White House was satisfied with — or at least accepted — the Saudi response. He added, however, the Bush administration will see if the explanation "conforms to what our experts say."
Saudi Foreign Minister Saud al-Faisal said the discussion with Bush about oil was friendly. "He didn't punch any tables or shout at anybody," the minister said. "I think he was satisfied."
High energy costs are a major drain on the U.S. economy, which is experiencing a slowdown that some think is already a recession. At the pump, gas prices rose to a national average of $3.78 per gallon on Friday, according to a survey of stations by AAA and the Oil Price Information Service.
When Bush and Abdullah met in the kingdom in mid-January, the president also sought more Saudi output in a plea that also ultimately was for naught.
Iran was the other dominant topic of Bush's overnight visit with the king.
The two shared a concern over the recent violence in Lebanon, where Hezbollah overran Beirut neighborhoods last week in protest of measures aimed at the group by the country's government. The display of military power by the Shiite militant group, which the U.S. considers a terrorist organization, resulted in the worst internal fighting since the end of Lebanon's 1975-90 civil war.
With Shiite-dominated Iran backing Hezbollah, Sunni-dominated Saudi Arabia — eager to stop any advance of regional power by Tehran — joins the West in supporting Lebanon's government. Hadley said Bush and Abdullah shared a concern that the recent events would "embolden Iran." The U.S. and Saudi Arabia, he said, "are of one mind in condemning what Hezbollah did."
On Thursday, Hezbollah and the government reached a deal to end the violence after Lebanon's Cabinet reversed measures aimed at reining in the militants.
Bush's Saudi stop was intended, in part, to celebrate 75 years of formal U.S.-Saudi relations and strengthen ties that, once strong, have frayed over the perception Washington favors Israel too much in the dispute with the Palestinians, the Iraq war and the Sept. 11, 2001 attacks. Fifteen of the 19 airline hijackers were Saudis, and Americans blamed Saudis for allowing the religious extremism that gave rise to them, an accusation that stings here.
Bush was spending the day with Abdullah at his lavish farm complex outside Riyadh, talking mostly out of public view over multiple tea services and meals. Abdullah greeted Bush warmly at the airport, and rode with him in his limousine out into the desert.
The White House hoped that new agreements formalized during Bush's visit would give the relationship a boost.
Among them was an agreement for the U.S. to assist the kingdom in developing civilian nuclear power. Another agreement involves U.S. promises to help protect any Saudi nuclear infrastructure with training, the exchange of experts "and other support services as needed." Hadley said it would not involve U.S. troops.
But the rising price of oil commanded attention.
When Bush first ran for president in 2000, he criticized the Clinton administration for high fuel prices and said the president must "jawbone" oil producing nations and persuade them to drop rates. At that time, oil was nearing $28 a barrel — less than a quarter what it is now.
Bush's visit comes two days after Congress voted to temporarily halt daily shipments of 70,000 barrels of oil to the nation's emergency reserve.
After Bush's talks on Friday, his administration announced in Washington that it has canceled oil shipments into the reserve beginning in July, when the current purchase contract expires. Bush has refused to stop pouring oil into the Strategic Petroleum Reserve, saying the stockpile was meant for emergencies and that halting the shipments would have little or no impact on gasoline or crude oil prices.
BIGTEX
Well-known member
Al Gore wrote a book wanting $5.00 a gallon gas. He just might get his wish. If Congress said tommorrow that we were going to open up drilling and start building refineries the price of gas would fall at least $1.00 per gallon the very next day!!!
knabe
Well-known member
at some point, we are going to take carbon out of the atmosphere. it will also be used as a tool for redistribution of wealth by regulating it.
has there ever been a message from politicians that anything is ok? why does doom sell so well?
why does equality sell so well when we discriminate about everything every day? we are so used to discrimination, we are blinded by it.
here's some more interesting stats
The federal government’s long-term financial obligations grew by $2.5 trillion last year, a reflection of the mushrooming cost of Medicare and Social Security benefits as more baby boomers reach retirement.
That’s double the red ink of a year earlier.
Taxpayers are on the hook for a record $57.3 trillion in federal liabilities to cover the lifetime benefits of everyone eligible for Medicare, Social Security and other government programs, a USA TODAY analysis found. That’s nearly $500,000 per household.
When obligations of state and local governments are added, the total rises to $61.7 trillion, or $531,472 per household. That is more than four times what Americans owe in personal debt such as mortgages.
$5 gas seems like such a small problem compared to this.
add 500 billion to address world wide poverty, which can only mean more later, will add to the bill. at some point, the debt of the american people will become apparent to the average american. this will probably only happen when their social security check bounces.
has there ever been a message from politicians that anything is ok? why does doom sell so well?
why does equality sell so well when we discriminate about everything every day? we are so used to discrimination, we are blinded by it.
here's some more interesting stats
The federal government’s long-term financial obligations grew by $2.5 trillion last year, a reflection of the mushrooming cost of Medicare and Social Security benefits as more baby boomers reach retirement.
That’s double the red ink of a year earlier.
Taxpayers are on the hook for a record $57.3 trillion in federal liabilities to cover the lifetime benefits of everyone eligible for Medicare, Social Security and other government programs, a USA TODAY analysis found. That’s nearly $500,000 per household.
When obligations of state and local governments are added, the total rises to $61.7 trillion, or $531,472 per household. That is more than four times what Americans owe in personal debt such as mortgages.
$5 gas seems like such a small problem compared to this.
add 500 billion to address world wide poverty, which can only mean more later, will add to the bill. at some point, the debt of the american people will become apparent to the average american. this will probably only happen when their social security check bounces.
