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-   -   Oil skyrockets (http://www.v7n.com/forums/showthread.php?t=99946)

Franc Tireur 09-22-2008 12:22 PM

Oil skyrockets
 
Oh man !

"It goes to show that we need to have our arms around the speculation," said Beutel. The investors who pushed up the price of oil Monday were the same "people who pushed us from $79 to over $147."

"It is all big investors," added Buetel. "When stocks, dollar go under pressure, they jump into oil and they don't care who it hurts."

http://money.cnn.com/2008/09/22/mark...ex.htm?cnn=yes

TechWizard 09-22-2008 01:20 PM

I take a different view. This view may be to simplistic for some to comprehend but I take it just the same.

The speculator market is ran by gambling on what is to come in the future, correct? This being the fact then it is easy to see that the opposition of an all out assault against the energy crisis by the U.S. government will keep the country dependent on outside sources for many many years. This being the fact it is then again safe to assume that any hostilities or uneasiness that falls outside the United States control, such as in Russia and Georgia, Nigeria, Iran, and other countries places an immediate impact on the speculation that obtaining future oil supplies is going to be difficult for the United States. Not to mention the fact of the growing industrialization and supply demands of countries such as China and India to name only two. One of these countries is actually in the process of drilling oil off our own coast when we in fact cannot. As is Cuba. This to me makes absolutely no sense, and it makes for speculation of higher oil prices to be a safe bet indeed.

When you mix this with the fact that this is an election year. And anyone can argue with me all they want but consumer confidence drastically effects the stability of the market and the growth of the economy. The Democrats are as they always have depending on a weak economy to help them win the election. In their efforts to convince everyone how bad off the country is and how bad of they themselves are, they are at the same time negatively impacting the economy and working against any positive force to correct it or make it stronger. Politically the Democrats can't afford a strong economy. Just as they couldn't afford a success in Iraq, that has back fired on them. They are still betting on luck with the economy.

If, and if is a big word but common sense makes this the only logical conclusion, but if the United States government repealed all restrictions on drilling for oil and natural gas, making nuclear power plants, wind farms, solar farms, hydro power, and every other source that is possible all at the same time the speculators would be forced to lower their bets. The demand would be met, it wouldn't be met tomorrow it is true, but the speculators aren't trading on tomorrow's oil, they are trading on oil for the next year or further.

So instead of our strengthening dollar causing an increase in oil prices we would be able to increase the strength of the dollar and control the cost of oil at the same time. It's a simple formula, just stop restricting the market and it will work.

Franc Tireur 10-15-2008 11:20 AM

Oil price down about 50% but only $1 off the price tag at the pumps

Before: $140 or so the baril for $4.26 a gallon regular unleaded
Now: $75 or so the baril for $3.25 a gallon for regular unleaded

How can we trust them? Why are they making huge benefice when they asking us to work hard and make sacrifices?

I think this is indecent to see big oil companies making huge profits when we are in economic trouble.

Small businesses, will not run as they use to be if gas stay high.

What do you think?

G10 10-15-2008 11:38 AM

tbh, you are correct dude.

There was a program in the UK where they filmed one of the big-boys within the oil conglomeration and even he admited that they have the power to bring the prices down if required but why should they as people are still going to buy it no matter what and it is just business like everything else.

So yes, it is as simple as you say as who has the power to tell the worlds biggest businesses selling the most valuable product at what price they are to sell it for?

If they all get together (like they do), then they can make the rules as to what it is sold for.

Sometimes we try to look too deep for an answer that is actually pretty simple and just staring right at us.

Atom 10-15-2008 12:06 PM

I think that technology is going to have to take over soon. The triumph of good over evil. Gas is evil, and smells.

G10 10-15-2008 12:11 PM

The technology is there Atom dude as you probably know.

The fourth generation Vauxhall has been built for a few years now, tested and driven and works amazingly well and is a full hydrogen poered car.

Manufacturers all have their cars built and ready to go but there is one problem. Oil companies are not yet ready to add specialist pumps to their forecourts for this, and why should they unless the correct deal is struck with them as to how much they are going to make on this as they will want their cut.

If a company had the guts to try to set up their own pumps, just hydrogen based, I have a strange feeling that oil companies would use some of their muscle to clamp this down so it is a no-go.

Basically the techology is there but it will not get out fully until 'THEY' say it can and cut the right deal.

Atom 10-15-2008 12:20 PM

Is hydrogen cheap?

G10 10-15-2008 12:25 PM

It's basically water though with something added so that the public can't start filling up with their own lol!

Also, some re-charging is involved but the techonology is there and would work well, or so it seems when General Motors were questioned about it.

Atom 10-15-2008 12:30 PM

I was thinking if it was cheap then that area of the transition probably wouldn't be where big oil execs could fill the gap.

Atom 10-15-2008 12:34 PM

The gap must be filled for the system to work. I'm sure they'll come up with something. Some other way.

Atom 10-15-2008 12:38 PM

Although gas started out cheap too though. Maybe they'll jump on the hydro wagon yet, maybe they'll find a way to jack that up.

Ferre 10-15-2008 01:00 PM

Quote:

Originally Posted by G10 (Post 957608)
It's basically water though with something added...

Nope, as a chemist I feel the need to correct you on that; It's basically water with something taken out instead of added.

:mrgreen:

G10 10-15-2008 01:02 PM

Quote:

Originally Posted by Ferre (Post 957619)
Nope, as a chemist I feel the need to correct you on that; It's basically water with something taken out instead of added.

:mrgreen:

Sorry, you are right, I stand corrected..

I meant that something has to be altered so that the public can't start using ordinary water or making it themselves.

xceedbd 10-15-2008 01:16 PM

i think its really make life harder or may be more than that !

Franc Tireur 02-09-2009 09:09 PM

Here the answer, a very good investigation:

http://www.cbsnews.com/stories/2009/...n4707770.shtml

WhatsLeft 02-10-2009 05:18 AM

I think it is a mistake to believe lower oil prices will be a permanent condition. The price goes up or down for many reasons, but mainly demand, speculation, and insecurity in the Middle East. However, the conditions easily could come in the near future when $147/barrel looks cheap. At least I'm planning my life on the premises of expensive oil and of the current prices being the anomaly.

Franc Tireur 02-10-2009 07:41 AM

Quote:

Originally Posted by WhatsLeft (Post 1028780)
I think it is a mistake to believe lower oil prices will be a permanent condition. The price goes up or down for many reasons, but mainly demand, speculation, and insecurity in the Middle East. However, the conditions easily could come in the near future when $147/barrel looks cheap. At least I'm planning my life on the premises of expensive oil and of the current prices being the anomaly.

Did you watch the video? It is just speculation and artificial cotations including found edges, etc... on Wall Street.

Franc Tireur 02-11-2009 02:40 PM

When the oil stock market is failling, here in Nevada we don't see anymore the benefit of cheap gas, because they recently decided to cut the production of oil refinery.

Why not, whatever works to make money and keep high gas price, but doing this during harsh economy may just make things worse for people.

You know the impact with high shipping cost for: Businesses, Online businesses, industries, food, work, people, etc...

bobby_valentino 02-18-2009 12:05 PM

oil FTW


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