Oil $100 a BBL.........
02-19-2008 | 11:52 AM
#11
With The Resistance
Joined: Jan 2006
Posts: 6,191
Likes: 0
From: Burning the Agitprop of the Apparat
The OPEC embargo in the '70s unleashed an astounding amount of exploration and drilling along with movement toward alternatives: they can price themselves out of the market. Canadian tar sands are very viable at these levels-higher price induces more supply.
02-19-2008 | 11:53 AM
#12
Gets Weekends Off
Joined: Sep 2007
Posts: 207
Likes: 0
02-19-2008 | 11:56 AM
#13
Line Holder
Joined: Apr 2006
Posts: 510
Likes: 0
From: Work
Today oil shot up $4 a bbl and briefly crossed the $100 mark again. This is going to KILL aviation unless something is done to curtail this insanity. When oil companies are raking in $40 BILLION in profits for a quarter, something is definitely wrong with the picture. At CAL, every $1 increase is another $44 MILLION off the bottom line, or over $176 MILLION off the bottom line just today!!! I hope the oil companies/speculators, and Saudi's are happy with what they're doing to everyone. I just wish our government would grow some balls (even tiny ones would help) and say enough is enough and start going after the speculators who look for every little nuance to push the price ever higher. But, since we're beholden to the middle-east and special interest groups, that will never happen and the consumer will be blamed for using too much. My guess is that "recession" will be a mild word for what's going to really be the end result. The average american can't afford to fill up their gas tank much more if this keeps up. I guess those poor people getting an "economy stimulus rebate check" are salivating while waiting for a few more dollars to fill their tank. Meanwhile, the oil people are laughing their way to the bank.................
Flame away..............
02-19-2008 | 11:59 AM
#14
With The Resistance
Joined: Jan 2006
Posts: 6,191
Likes: 0
From: Burning the Agitprop of the Apparat
Or it may just be that same old Confederacy of Dunces we always fight against: ourselves.
Gas too high=get something with better mileage or drive less
Try it in the EU or Asia at about $6 a gallon, all due to helpful government programs.
02-19-2008 | 12:05 PM
#15
Doing One Pilot's Job
Joined: Sep 2005
Posts: 7,889
Likes: 130
Current oil prices are not supported by supply-and-demand fundamentals; they are driven higher by institutional speculators and the falling value of the US Dollar vs. the Euro.
No reason whatsoever a barrel of oil should spike $3+/bbl due to a small refinery explosion in Texas and the mere possibility that OPEC *might* cut production.
If doctors had Bonanzas and lawyers had Twin Commanches, why can't we get energy traders flying something like the MU-2?
No reason whatsoever a barrel of oil should spike $3+/bbl due to a small refinery explosion in Texas and the mere possibility that OPEC *might* cut production.
If doctors had Bonanzas and lawyers had Twin Commanches, why can't we get energy traders flying something like the MU-2?
02-19-2008 | 12:08 PM
#16
Gets Weekends Off
Joined: Feb 2008
Posts: 847
Likes: 0
From: 757/767 FO
It may have some degree of control, just as our consumption does. You also may be underestimating the greed of individual OPEC members, and political obstruction to drilling and building Nuclear power plants.
The OPEC embargo in the '70s unleashed an astounding amount of exploration and drilling along with movement toward alternatives: they can price themselves out of the market. Canadian tar sands are very viable at these levels-higher price induces more supply.
The OPEC embargo in the '70s unleashed an astounding amount of exploration and drilling along with movement toward alternatives: they can price themselves out of the market. Canadian tar sands are very viable at these levels-higher price induces more supply.
02-19-2008 | 12:16 PM
#17
With The Resistance
Joined: Jan 2006
Posts: 6,191
Likes: 0
From: Burning the Agitprop of the Apparat
Get your head out and look around, you won't find the answers on the nightly news.
Regulatory obstructions tend to drop away as we experience pain. Years of courtroom battles against the Alaskan pipeline vanished overnight when the embargo hit.
Rather than banter with sarcastic responses, we are all better off taking a good look at reality. The conspiracy theories and haints under the bed tend to vanish under the light of factual information.
Economic commodities fluctuate in price, energy is going to be more expensive over the long term.
02-19-2008 | 12:17 PM
#18
Gets Weekends Off
Joined: Dec 2006
Posts: 1,784
Likes: 0
From: I was acquired, Not Hired
02-19-2008 | 12:20 PM
#19
Thread Starter
HOSED BY PBS AGAIN
Joined: Mar 2005
Posts: 1,713
Likes: 0
Supply and demand didn't shoot up over 4% during the weekend.......just as it didn't shoot up 50% in the past 7 or 8 months. The fact that the oil companies were making a 10% profit when oil was $50 a bbl a year or so ago doesn't wash either since I'm pretty sure the cost of refining oil didn't go up $50 a bbl in the past few months. The refineries are working around 89% according to the last few articles I've read. Something is going on that needs to be investigated and unfortunately WE, the little guys are going to pay for it. Having a $25 "war" premium and $20 "terrorism" premium sure isn't helping either. JMHO
02-19-2008 | 12:25 PM
#20
Gets Weekends Off
Joined: Feb 2008
Posts: 847
Likes: 0
From: 757/767 FO
"Rather than banter with arrogance and know-it-all verbiage, we are all better off removing ourselves from reality. The wonks and pundits on the internet and CNN tend to shine brighter under a cloud of pompousness and inflated sense of one's intellect."
Thread
Thread Starter
Forum
Replies
Last Post
