Oil Futures hit $100 a Barrel for the First Time Ever

[Jim540]

Cassydog, I agree with what you are saying, if I were looking to replace what I have with something new it would be worthwhile to look at the costs involved. I will probably keep the wife in something newer but as for me I still like the old truck. It came from right close to where you are from. Good old Texas truck, probably never saw any salt till I brought it up here.

[Bill Fernandez]

...gol-durned #$@%&$*!!!@# speculators...they drive the price of EVERYTHING up...we should line 'em all up with the lawyers, bankers and politicians and shoot 'em all!!!!!!!!!!!!!!!!!!!
madjack

Now now be nice .

[Bill Fernandez]

Hey people aare not spending money my shop is down 35% this year.

[Ira]

If this thread is heading towards bombing the Arabs, friend or foe, I'm all for it. But let' snot forget Venezuela:

Half of the population there is just DYING for us to do it.

As a liberal democrat, I have a real problem with military incursions to install democracy, but not to ensure low gas prices.

And Bush screwed up royally on both goals.

[toypusher]

Hey people aare not spending money my shop is down 35% this year.

Don't worry Bill. With the price of gas still going up, folks will have to start walking again and wearing out their shoes!!!!

[caseydog]

If this thread is heading towards bombing the Arabs, friend or foe, I'm all for it. But let' snot forget Venezuela.

Um, that's not where I hope it will go.

A lot of people have different opinions as to WHY gas prices are going up, but the only FACT we know for sure is that they ARE going up.

When I read news stories like this one, I start thinking about how the reality at hand will effect my life and future. I'm already making my own plans for a future with higher energy costs.

The only reason I shared the article was to share information, not start a geo-political discussion, but it's a free forum. Knock yourself out.

CD

[caseydog]

Hey people aare not spending money my shop is down 35% this year.

Ira is available to help you with your advertising. Really. He may have some ideas you can use to build traffic in your store. It might be a business opportunity for both of you.

Just a thought.

CD

[Bill Fernandez]

Ira write me an add and see if I like It maybe we can do something Is that what you do?

[Ira]

A lot of people have different opinions as to WHY gas prices are going up, but the only FACT we know for sure is that they ARE going up.

We sometimes tend to make things seem more complicated then they are:

OPEC sets the price of oil, which is all Arab except for Venezuela. So that's why the price of a barrel is what is.

These guys meet all the time to make these decisions on the price.

Yeah, you can throw a buck of a barrel based on this, a buck based on that, but the fact is, we have these guys determining the fate of world economics.

Maniacs who think a towel is actually a hat.

[caseydog]

And, sometimes we make them out to be simpler than they really are.

[doug hodder]

Watch the dairy and beef industry...corn is going into the ethanol program that is heavily subsidized, price of feed is going up...you'll feel it at the Safeway too, if you haven't yet. We still don't have a firm idea of what our total resources are because of limitations on exploratory drilling. We also don't have nearly the nuclear programs that our "EU" friends do. I'd think that since so many people think they are the model for society, that we ought to get on board with the nuclear thing. Doug

[Jim540]

I find it amazing that we are quick to point our finger at the oil producers for the high price of crude based products when the major oil companies report record profits each quarter. Kind of makes you wonder.

[Bill Fernandez]

What will happen is at the end if things don't change U S will be the weakest af all and we as americans will suffer.

[angib]

Help me out here. Is this electric?

The Smart is gas or diesel at the moment. An electric Smart is due in Yurp later this year and it is supposed to do 70mph max or 70 miles range (and not both!).

As the first electric car available from really mainstream producer, it will be very interesting to see how it sells. In London, where it will be exempt from several taxes, I'm guessing it will be years before there isn't a waiting list.

OPEC sets the price of oil

That's largely history nowadays. Less than half the oil being produced today comes from OPEC countries - for example, neither the USA nor any of the former Soviet countries are in OPEC - and there are thriving 'spot' markets for oil where it is freely traded. It will be the spot price of oil in Rotterdam or New York, not the long term rates recommended by OPEC, that caseydog was quoting.

Andrew

[caseydog]

The fundamental thing to remember is that the US and Yurp are not the only big users of oil anymore. China, India and other emerging industrialized nations are creating new demand at a rapid pace.

Oil reserves, even if they are there, are not something you tap like turning on a faucet. Exploration that is started today, will not bear fruit for years -- sometimes decades, depending where the exploration is located.

Also, all the easy-to-get oil in the US is pretty much gone. And, putting regulations aside, until oil companies are sure they can make a profit, they are not going to invest in hard-to-get oil. That was the case in the 90s, when oil prices were low. It made better business sense to buy from the Middle East than to drill in ANWR and deep offshore fields.

The largest oil reserves we have in North America are found in Tar Sands, and getting oil out of tar sands is not an easy, cheap, or environmentally friendly process.

And, as for nuclear, Americans seem to be conflicted on it. I look at the issue, and can see valid arguments on both sides of the debate. It is not one of those debates where one side is clearly right, and the other clearly wrong. I think there is a place for Nuclear in the overall picture, but it will not be appropriate for every sector of the nation. For example, I don't care what proponents say, I think it would be foolish to build a nuclear plant in areas along the west coast crisscrossed with major fault lines. But in areas like Nevada and West Texas, perhaps it makes sense.

But, technologies like solar are making great advances in cost and efficiency, and might make good sense for places like Phoenix, Arizona.

Wind farms are pooping up in north-central Texas like weeds, and hold a lot of promise.

But, I also can't ignore the idea that maybe, just maybe, we waste too much energy, too. Talk about conservation seems to be fightin' words at times, but conservation is the "low-hanging fruit" in the supply and demand big picture.

I don't know about anyone else, but I don't want to be a slave to things beyond my control, so my own "energy policy" is to find new ways to be less dependent on oil and electricity in the future. My next house will be smaller, and packed with high-efficiency measures. My next car will be more fuel efficient. When my water-heater goes out (just about due), I'll replace it with an on-demand unit that uses less gas.

Maybe part of the solution nationally is for each individual/family to establish their own "energy policies" that make a positive impact on the supply and demand picture.