$71.00 for a barrow of oil?

[twindouble]

Speculators are at it again, more money for the big oil companys $4.00 a gal for gas. Free market forces at work. :bang: Our national security at stake and our economic well being. We have a gun to our head and no one in Washington gives a shit, more intersted in getting elected. :mad:

[PaceAdvantage]

When oil was at 11 or 12 a barrel years ago, you weren't complaining, were you?

That's the free market. We could all adopt Chavez' plan and peg oil at $50 a barrel and take it off the trading floor....but then what happens when demand drops and supplies increase? More complaining....

[ljb]

Speculators are at it again, more money for the big oil companys $4.00 a gal for gas. Free market forces at work. :bang: Our national security at stake and our economic well being. We have a gun to our head and no one in Washington gives a shit, more intersted in getting elected. :mad:
Yupper !!! And some are even getting richer.

[ljb]

When oil was at 11 or 12 a barrel years ago, you weren't complaining, were you?

Nope. You must have Enron stock. :lol:

[PaceAdvantage]

Ah, cutesy one liners. You don't address my point that the way oil is traded on the open market allows it to fluctuate in price, and that nobody complained when oil was nice and low because of this system.

Nothing to throw back at me except an Enron comment? WTF does Enron have to do with any of this now?

[lsbets]

Nope. You must have Enron stock. :lol:

ljb - what ever happenned to those Enron guys anyway?

[twindouble]

When oil was at 11 or 12 a barrel years ago, you weren't complaining, were you?

That's the free market. We could all adopt Chavez' plan and peg oil at $50 a barrel and take it off the trading floor....but then what happens when demand drops and supplies increase? More complaining....

This is no long a market issue, it's our national securtity that's at stake here, if we don't get our ass in gear we will be paying $300 a barrow or we won't have access to what we need. Then what? You tell me how we will handle that through the market as it works today.

[ljb]

Ah, cutesy one liners. You don't address my point that the way oil is traded on the open market allows it to fluctuate in price, and that nobody complained when oil was nice and low because of this system.

Nothing to throw back at me except an Enron comment? WTF does Enron have to do with any of this now?
Come on PA, Would you expect anyone to complain about low gas prices ? Enron is one of the beneficiaries of this gouging and that is WTF Enron has to do with any of this now.
In another thread I had suggested the President threaten to release some of the oil we hold in reserve. Watch the speculators drive the price down then. IMHO the speculators are part of the problem here.
OOPs Big boo boo on my part. I meant to say Exxon. Take back all I said about Enron and change it to Exxon.
LS, last i heard those dudes were still in court.

[ceejay]

In 1999 oil prices averaged $18.25 according to Forbes. http://www.forbes.com/static_html/oil/2004/oil.shtml When oil prices were that low in 1999 or even lower in 1998 and really back to 1985 were oil producers getting any subsidies? In my opinion it was these low prices that are the cause of today's high prices. The low prices stymied exploration but the economics of these prices increased demand and decreased conservation. These economics also dramatically reduced head counts and exploration companies.

From Reagan on our country has had no energy policy except perhaps keep it cheap. Part of the rationale for that was originally, I believe, to try to starve the now former Soviet Union. It worked, but after that and the subsequent protracted period of cheap oil many Americans now view cheap gasoline as a God- or perhaps constitutionally-given right. Remember the uproar when newly elected President Clinton suggested a BTU tax-- which I favored?

But now in 2006 things are different. We still have no national energy policy. But world demand has increased especially in places like China and India. A knock on effect of the reduced head counts at exploration companies is that there is now a lack of qualified people. We like to joke that anyone who can spell the title of my job, petrophysicist, can get a job doing it. But in reality it takes training and experience.

Of course oil and natural gas producers like these high product prices. I do too. My consulting rates have almost doubled in the last two years. My production revenue has also. I believe that if the major oil companies could control oil and natural gas prices than they would, and you would really know it; however, that defies the history of the late 80s and the 90s.

On the upside, there is hope. US rig counts are increasing, as they historically track prices. http://www.wtrg.com/rigs_graphs/rigus.gif http://www.wtrg.com/rigs_graphs/short/rigus.gif Not only that but drilling speed has too with technological advances.

On the other hand, maybe it's all a conspiracy

[betchatoo]

When oil was at 11 or 12 a barrel years ago, you weren't complaining, were you?

That's the free market. We could all adopt Chavez' plan and peg oil at $50 a barrel and take it off the trading floor....but then what happens when demand drops and supplies increase? More complaining....

I don't believe there really is a free market. In my neighborhood gas stations change prices, within minutes of each other, to stay at the same level. If there was really a free market shouldn't there be some competition? IMHO there is massive price fixing, which I believe is illegal.

[Suff]

I don't believe there really is a free market. .

Agree. People throw those words around as if they are written in the Bible.

Free Market is the answer to all questions. Just let the market work. It is such a myth.

Are there any Oil reserves for Sale? Can I fly into Saudia Arabia, Nigeria, or Venezuela and purchase an Oil Firm? No I cannot.

Unless the core asset is exposed to the environs of an open market, then anything that follows is a product of manipulation. (e.g OPEC).

Even our beloved New York Stock Exchange is not quite the slave to Free Market Pressures as people would like to believe. Most Investment bankers and big Brokerage house's act as "market makers" on the S & P's 500. When you or I call up and buy a 1000 shares... The market maker sells it to us out of thier own account. They hold vast amounts of the Blue chips and could sink or raise many stock prices (at the blink of an eye) by using thier own holdings.

Market Pressure exists, its a factor, perhaps the largest. But it is not God, its not omni-powerful, and more imprtantly it is not always indictative of the truth.

Its Republican code speak for " We make more money"

[Tom]

ljb - what ever happenned to those Enron guys anyway? Senate? :rolleyes:

[Tom]

I don't believe there really is a free market. In my neighborhood gas stations change prices, within minutes of each other, to stay at the same level. If there was really a free market shouldn't there be some competition? IMHO there is massive price fixing, which I believe is illegal.A free market is never good to civilized nations - only to third and fourth rate POS underveloped countries run by little dic-tators.
FAIR trade is the only acceptabe market, and it doesn't exist.
What worries me is that we a very limited reserve of oil - under 60 days. We keep rattling our swrds at the middle east, they might rattles thier gas caps back at us. Milirataly, we are a super power, but oil-wise, we are not the toughest kid on the block. We could be in serious trouble if we don't get that reserve a hell of a lot bigger than it is.

[ceejay]

Are there any Oil reserves for Sale? Can I fly into Saudia Arabia, Nigeria, or Venezuela and purchase an Oil Firm? No I cannot.



http://www.ogclearinghouse.com/futureauctions.shtm

There are reserves for sale. Almost anything is for sale for a price. Just fly to Houston or Calgary for an auction. Those state-owned firms in Nigeria, Saudi and Venezuela are not for sale ;) .

[twindouble]

Ceejay;

If I remember correctly, the first event that got the American peoples attention was the boycott by OPEC in the early 70's, now that almost 35 years ago, the out cry was we were becoming to dependent on foreign oil. That just turned out to be political meat for those running for office, the buzz words were, conservation, exploration, alternative energy, solar, wind and so on. Government grants and subsidies were handed out left and right to give incentives to anyone company big or small to come up with new ideas for conservation, including oil company's for exploration and finding ways to better extract oil. Further more the price of oil served as key component in driving the smaller company's out and brought about frizzy of consolidation, the result is what we are dealing with today, control by a few. Speculators are also reaping the profits of the skin of our fanny, the big company's don't pay that price when it speculated up, they get it for much less, plus the existing stocks and in the pipe line is a wind fall. That's huge in my opinion. Just sitting here listing to TV is was said Exxon CEO, made over a billion dollars over the last three years. :rolleyes:


The Soviet Union at the time Reagan was in office had and still has vast oil, gas and coal reserves so there was no way we could put economic pressure on them by keeping oil prices low.


T.D

[PaceAdvantage]

They hold vast amounts of the Blue chips and could sink or raise many stock prices (at the blink of an eye) by using thier own holdings.

Yes they can, but they can't hold it for very long. There is no way in hell (especially with high volume Blue Chips) that market makers can manipulate prices to such a degree that they are affected on a long term basis.

[GeTydOn]

The rate these gas prices are going I might as well quit my job and just go work at the nearest mall so I don't actually have to drive any significant distance to get to work.

No one gives a shit. Companies don't even give cost of living raises anymore. And yet the cost of living is on an insane climb. At least business can add surcharges for gas. But families are supposed to sit back and take it. Take highers prices of everything. Take no raises. Take losing benefits. Take higher medical coverage costs with less coverage. Take losing pensions. Business as usual while the hard worker continues to get taken advantage of.

[PaceAdvantage]

Maybe we all need to find new employers?!?! They can't all be that bad, can they?

[GeTydOn]

I don't know of many people singing rave reviews of the way they're treated at there places of employment. If anyone knows of such companies please post so I can consider alternate employment.

[Tom]

Maybe we all need to find new employers?!?! They can't all be that bad, can they? You need a janitor for the War Room? :D

[betchatoo]

I don't know of many people singing rave reviews of the way they're treated at there places of employment. If anyone knows of such companies please post so I can consider alternate employment.

I work for myself and I've still got an asshole for a boss :bang:

[lsbets]

I work for myself and I've still got an asshole for a boss :bang:

Me too, but at least my boss' assistant is pretty hot! :jump:

[Vegas711]

$ 2.85 per gallon. Everytime I fill my tank while I am inserting the Gas nozzle in my trucks gas tank, Big Oil is inserting another gas nozzle up my ***.

[fouroneone]

Outside my apartment in Manhattan it is $3.25 for a gallon of the CHEAP stuff. Glad i dont drive!

[Observer]

The "cheap" gas station .. known for their tendency to be the cheapest prices around .. was selling regular for $3.05 a gallon today. Can only imagine what it'll be up to tomorrow morning.

[Tom]

We really should get together and pick on oil company nationwide and bankrupt it by not buying any gas from them - anyone but them, Just to show the greedy bastards what is like to be screwed. and make it an American one - one who should be treating us better than they are.
I'm open to suggestions......pick a bastard.

[doophus]

......pick a bastard.CITGO, the Venezuelan owned refiner and retailer.

[Tom]

Then that is who we want to buy from - we expect THEM to screw us. We need to let American company know we are pissed- "screw American"

From now on. I do all my business with Citgo! "Viva la gasholes!"

[boxcar]

We really should get together and pick on oil company nationwide and bankrupt it by not buying any gas from them - anyone but them, Just to show the greedy bastards what is like to be screwed. and make it an American one - one who should be treating us better than they are.
I'm open to suggestions......pick a bastard.

With all due respect, you're missing the mark here. The oil companies may be part of the problem but they're not the root cause. The oil companies themselves are just "pawns" -- means to an wicked end.

The root of the problem lies with our federal govenment. As Cee Jay and others have pointed out the national disgrace to end all national disgraces is that the U.S.A. has no national energy policy. Why do you suppose this is? Why do you think virtually every elected federal govenment official (yes, that's right, not just Bush and Cheney because this entire issue is much larger than these two pinheads) has opted to bury his head in the sand when it comes to developing a comphensive and sound national energy policy?

Let me give you a little hint: Tobacco and gasoline have what in common? In what way do these two products (or industries, if you will) have an unholy alliance with the federal government?

Boxcar