Community Forums

al koffman · 06-06-2008, 05:36 PM

Was today a "reverse "tank"?

chasfm11 · 06-06-2008, 05:51 PM

Boone Pickens, IMHO, is the most knowledgeable guy in the oil industry. He talked about 87 million barrels a day in world wide demand and 85 million barrels a day in production. He believes that the gap may widen.

That is NOT a prescription for a reverse any time soon.

MtManLee · 06-06-2008, 07:06 PM

Guess no one has heard the news that prices should rise by 20 cents by tomorrow because Iran is threatening war with Israel. Caused an oil embargo scare that raised the cost of oil to 140 dollars a barrel. And someone is blaming Washington? Oh give me a break. Bush released our oil reserves weeks ago did not see any price drop. We have hundreds of wells sitting in Utah, Colorado, Oklahoma, and Texas sitting capped cuz there is no place to refine the oil. And more wells are drilled every day. Nightline tonight showed a man who is drilling for oil in texas daily. Says it cost him half a mil to drill for oil 150 grand if it comes in to set it all up. The one he was drilling today was a dry hole. And he says they have a lot of those as well as those that produce. So not all well produce and they too cost money to drill irregardless.
You want lower oil prices we need to get the dollar back on track. Including biting the bullet by letting them raise interest rates. Oh no not pay more interest on our loans we cannot afford to pay off. But that is one way. Get the house market back down where people can afford to own homes. Charging half a mil for a 50 grand house dont cut it. Again bite the bullet. But who will bite the bullet? I sold my home for 15 grand last year just to get out from under it. I owed 30. I am biting the bullet but it will take more than just me.

lwmuddy · 06-06-2008, 10:24 PM

My feeling is that we will have to wait until the new administration is seated and hear what action they take, if any.

There is so much information being fed to the public right now from every corner that they are thoroughly confused and frustrated. Not to mention a little bit scared.

The news media ramps the HYPE up and keeps us on the edge of our seats on an hourly basis.

They say that RV'ers are staying longer in each location in order to save on fuel, but at what point will many of them say, "thats it, we ain't leaving", and new subdivisions are created.

Oil has made it's way into everything we see and also eat.

How did we ever live "BT", before Tupper Ware:?

Our search for the Ultimate Utopian Lifestyle has made us slaves to the providers and they know we can't stop ourselves.
We are addicted to what they sell and will buy it even at the cost of bankruptcy.

Everyone is buying gas even with the outlandish prices, so I see no reason for them to drop it.

I read of RV'ers saying, "no matter what the price is we are still going on".

Oil suppliers see the way we accept these prices and 9May) just keep them and a little bit more.

In an automotive shop they say, "if the customer doesn't complain about the price of the labor then double the price of the parts", or something to that effect.

Just as the average person never sends in for the rebates or complains about bad service, we will just pay what they demand and "get on with our lives" as if nothing has happened.

The Piper is demanding his dues.

Park · 06-07-2008, 04:05 AM

I sure hope you are correct and oil sees a big correction downward. Meanwhile I have to ask what is going on in Washington? These guy's (both parties)seem to be on board the Titanic and denying the ship is going down.

While they deny drilling in Alaska and off the coast of the U.S., China continues drilling off of Florida.

I see South Dakota has approved the first refinery in over 30 years to be built wonder how long it will take the environmental groups to put a stop to that through the courts.

MtManLee · 06-07-2008, 04:26 AM

S Dakota is not the only one. A private individual is building one in Utah with no permission except from the city and county he is building it in. He is daring them to say something or try to stop him. He is putting 3 billion of his own money to build it, putting it in an area where there is nothing but desert, and giving an economy to an area suffering by offering a whole lotta jobs. Sadly they take up to 5 years to build and come on line.

RedneckExpress · 06-07-2008, 06:49 PM

Sadly, both of the boys on the ballot are all pro "Cap & Trade", which should be more properly named "Cap & Screw". That lovely bit of genius has the easy potential to raise fuel prices $1.50 a gallon.

Its about time to repeal all the EPA legistlation clear back to when it first went into effect in the 70s and leave it that way until we're producing fuel so cheap that we're causing financial collapse in the OPEC Nations.

lwmuddy · 06-08-2008, 01:43 AM

We, you am I, are the financial backers of this "New World Order", a phrase which hasn't been uttered in almost a year, but it is waiting in the wings I fear.

We have all been too relaxed and happy to notice that there are processes at work that will be certain to reduce the size of our wallets.

The "Talking Heads" will tell us who to vote for and then all we can do is wait.

Every expert that gets air time has a different version of what is behind this turmoil.

I am trying to avoid watching the news because it is being designed to confuse us.

We have to listen to every word, examine each word and phrase and then use our common sense PLUS our memory or years past.
People have very short memories and "THAT" is what "THEY" are betting on.

We don't want to miss the elevator and get the shaft.
We already pay too much and it is THEIR turn to spend less.

The internet is the only way to try and search out the truth, because "THEY" certainly won't.

If a politicians mouth is open they're lying.

The only thing that looks good on a lawyer
IS A DOBERMAN PINCHER.

evan0810 · 06-08-2008, 05:08 AM

My point earlier was: We wouldn't have to depend on anyone for oil if the government would just allow drilling our own. Then it wouldn't matter what is going on in the middle east. Why haven't we built any refineries? It could be government regulations or fear of lawsuits by the same group that sued to prevent rebuilding the walls around New Orleans (we see how that turned out).

RustyJC · 06-08-2008, 05:20 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by evan0810:
My point earlier was: We wouldn't have to depend on anyone for oil if the government would just allow drilling our own. Then it wouldn't matter what is going on in the middle east. </div></BLOCKQUOTE>
Why would oil produced in the United States sell at anything less than world market prices? If you owned the oil, would you sell it at, let's say, $50/bbl in the U.S. when you could sell it at $135/bbl in the world market?

Rusty

<sub>Edited quote.</sub>

Rock-Rocker · 06-08-2008, 06:39 AM

Bummer, the gas prices have finaly hit us too hard. My Wife and I have decided to call it quits. Gas prices jumped up overnight and have hit the $5 a gal mark. We leave today for our annual week long camping trip with a full tank of gas, plan to burn that up which should get us back home again. After that the MH sits next to the house and the bank will have to come and get it. We have to shift the funds spent on the MH to the ever escalating cost of the things we need to live on. Our retirement dream went down the tubes. I'm sure I'm not alone. It's been fun and maybe another day.

afrank1971 · 06-08-2008, 09:07 AM

Simple supply and demand, we drill and develop our own oil here in the US, that will put a lot more oil on the world market, driving the price down. Plus, exponential side bonuses, domestic jobs, the money wouldn't go to foreign governments, some of which are obviously hostile to the US, and then our country (companies and employees) could also take advantage of China and India's expansion by selling our oil to them for a change (assuming we actually managed to produce more than we could consume at a given moment, perhaps a lofty goal).

Tom Meredith · 06-08-2008, 09:20 AM

China thru an agreement with Cuba is drilling 20 miles off Key West--they will put their straw in the oil first-----------

Drill our oil now""""""""""

Tom

Tom N · 06-08-2008, 03:43 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Tom Meredith:
China thru an agreement with Cuba is drilling 20 miles off Key West--they will put their straw in the oil first-----------

Drill our oil now""""""""""

Tom </div></BLOCKQUOTE>

Not 20 miles......In truth......."With just 90 miles separating Cuba and the Florida Keys, Cuba has LEGAL rights to oil and natural gas reserves in its half of the Florida Strait. Cuba can, therefore, produce or lease for production oil and natural gas reserves as close as 45 miles from U.S. shores."

Cuba is leasing the rights to drill and US oil companies are banned from bidding because of the federal law banning US financial business with Cuba.

-Tom