HercDriver130

doesnt matter if a "cartel" is illegal in the united states... the cartel doesnt include the united states, nor is it based here...... we choose to buy oil from them.....and for what its worth, even OPEC doesnt control the world price of oil... they control their production of crude and its distribution which of course does effect it but oil prices are set on the commodity market.....

HercDriver130

Sure I have heard the reasons... from fear of oil spills to the fear that tourists wont come if they drill off the coast. The fact is much of the oil to be had in the northern and eastern GOM off Florida is over the horizon and the platforms would never be seen. I guess if they have GOOD reasons not to drill off florida using your train of thinking then we shouldnt drill off of Texas or Louisiana or Mississippi or Alabama, or hell anywhere for that matter because if we think long enough and hard enough I am sure we can come up with reasons NOT to drill ANYWHERE. The fact is it the same old BS... we want oil... we want nuclear... we want coal... hell even the Kennedys put a stop to wind power in MA, ..etc etc etc.. but NOT if its in MY backyard.... well if you dont want it in YOUR backyard... thats fine...just be prepared to pay MORE to have it brought to you.

WhizWheel

Problem is most if not all of the impact studies are brought forth by environmental groups. Gee, I wonder what the findings will be. We have ZERO opposition to the very powerful environmentalists in this country because the minute you do you are branded. Nobody wants to be known as the anti-environment lobbyist. Couple that with futures traders having the commodities market by the stones and you have 2 major reasons why the ppb is $127.

skidmark

Stop buying crap from China, we are building their economy, and now they are thirsty for oil. It's hard to do, but you can try. Even your pilot shirts are from China.

kdoner

i grabbed my ankles, and i spent my whole paycheck at the pump last week.

seafeye

The high price of oil is partly because our dollar value is becoming a peso.

Also the oil companies have an obligation to make a profit for its shareholders. The only way they can continue to do that is charge the rate they are charging or find more supply and lower the price.
They chose to charge more.

The price of oil will never go down.
The upside is that it forces us to look for alternative fuels faster. I see hydrogen cars becoming more and more popular in the next couple of years.

Blkflyer

We all complain about Gas Prices and I am a complainer too but the fault is partly ours as consumers simple supply and demand, for all the people out there with their 18 mpg SUV and such we have been spoiled for so long its not funny, I can remember when I was stationed in Germany we use to get coupons for Gas and it was rationed aswell the europeans are paying a hell of alot more than we are, but they dont drive as much as we do, we really need to ween ourself off of fossil fuel, I dream of the day we have a public transportation system that rival Europe.

And for the people who think HillBama will make it any worse tell me how much money we have spent in IRAQ so far wait a min I dont even want to know cause its to the tune of $400 BILLION

ok Rant over

rickair7777

This is correct...the fundamental underlying weakness in the US energy economy is environmentalists and NIMBYs.

Energy is an infrastructure-intense business...you need large power plants, processing, and refining facilities plus transportation or power-lines to get the stuff where it needs to go.

There have been VERY few new refineries, nuclear, or conventional power plants built in the last 30 years. In fact NO nukes at all, and I believe no refineries either.

During the big California blackouts in 2000, the commie/liberal governor and his assembly cronies decided to fix the skyrocketing electricity costs by siezing control of the state's power utilities...unfortunately it turned out that these same folks had not allowed anyone to actually BUILD a power plant in the state of Cali for 30 years. So where WERE all the power plants which had supported the Cali population surge? About 15 feet across the Nevada State Line! Turns out that the Cali state government does NOT have the authority to seize control of things in NV. Oooops!

The good news is that reason is starting to prevail in some quarters, and new plants are in the works. But the federal government probably needs to develop an aggressive post-petroleum energy master plan, and take steps as needed to steer the industry in the right direction.

Led Zep

..........

jayray2

That is a pretty bold prediction. If you are so sure put your money where you mouth is - I mean if it will never go down put all your money into oil commodities and you won't even need a job as a pilot.

Hydrogen cars are far far away. The infrastructure and the energy required to make hydrogen cars is in no way feasible in the near future (at least 10 years). Barring any exceptional breakthrough a hydrogen society is still science fiction. Take the time to watch this video all the way through please. While you will see hydrogen cars are possible, the technology still has a long way to go before a hydrogen society becomes a reality.

http://www.pbs.org/wgbh/nova/sciencenow/3210/01.html

Do some research on EV and you will see that not only are electric cars an option right now - they were years ago. Yes, the technology exists right now for you and me to drive around 100 miles on one charge at speeds fast enough to drive on freeways and not use one drop of gas/oil (assuming your electricity comes from a non oil burning electric plant). I'd put my hopes into an EV way before a hydrogen based car. Go to your local library and rent the documentary 'Who Killed the Electric Car?'.