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Topic: Oil at 114$

and someone said it wouldn't go well past 100$ while I insisted it would...

It's going to probably fall again soon.

http://www.nytimes.com/2008/04/15/business/15cnd-oil.html?_r=1&oref=slogin

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Re: Oil at 114$

/me raises my hand

That would be me.  WAY overpriced.

Brazil is sitting on a huge off-sure field now.  Another major find.

Come .......joust w/the master.
I'm always Right.   You are just intellectually Left.....behind.
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  • Soth
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Re: Oil at 114$

its at another peak.  it will probably fall for a period of time before rising again

In matters of style, swim with the current;
In matters of principle, stand like a rock.
                                          Thomas Jefferson

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Re: Oil at 114$

yeah well I predicted never past 100 also. I wish I had 1/2 a billion to invest in an oil field, or a refinery in say Mexico... I would have 1 billion then 5 years later seems to me tongue

Everything bad in the economy is now Obama's fault. Every job lost, all the debt, all the lost retirement funds. All Obama. Are you happy now? We all get to blame Obama!
Kemp currently not being responded to until he makes CONCISE posts.
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  • Skoe
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Re: Oil at 114$

Or you'd have a borked refinery tongue.

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Re: Oil at 114$

lol not sure how you guys possibly thought it wouldn't pass 100 =p

Sex without the e is still SX!

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Re: Oil at 114$

I say it'll reach $200 by the end of the year, or time ad infinitum. tongue

Brother Simon, Keeper of Ages, Defender of Faith.
~ ☭ Fokker

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Re: Oil at 114$

not this quickly over the 100 mark.

At this time last year, oil was up 20%, and some were saying 100 befor the end of the year.

I was not in that crowd.

Come .......joust w/the master.
I'm always Right.   You are just intellectually Left.....behind.
Individual patriot, and a REAGAN Conservative.

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  • Han
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Re: Oil at 114$

I remember about 3 years ago when a few of us were posting about Oil Peaking in 2007 and the rest saying BS.

So why is the price so high?
Supply, Demand, Price.

Price is the variable that keeps supply and demand equal.

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  • East
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Re: Oil at 114$

"not this quickly over the 100 mark.

At this time last year, oil was up 20%, and some were saying 100 befor the end of the year.

I was not in that crowd."

as I remember it, you didn't say it would rise slowly, said it would never reach that mark and kept saying it would fall dramatically; you were quite adament about it

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kjnqsdfqsdfqsdfmkjqhgmkjnqsgkjmhzdflmghjsmdlghjsmdkghmqksdjghq

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11 Reply by Nolio (edited by SuperNolioBrothers 17-Apr-2008 08:33:26)

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Re: Oil at 114$

lol oil was 87.00 in october. And had went up to like 91 I think in november. No way ppl can predict it wouldn't rise to over 100

Sex without the e is still SX!

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Re: Oil at 114$

If massive oilfields aren't found soon it will rise even more and my countries economy is already in trouble...

In 2006 our economy grew by 13%

In 2007 it was like 10%-12% can't remember

This year it predicted to be from 0%-3,5%  and inflation is predicted to be at 9%-10%!!!

and now everybody(even the conservatives) except the libertarians are trying to stop income tax cuts so the government could have more money since the budget was made out to be 96 bln kroons and the income will be 89 bln kroons this year so the government has to cut 7 bln kroons. But thats stupid because lower taxes would stimulate the economy.

"Whoever said the pen is mightier than the sword obviously never encountered
automatic weapons."-General Douglas MacArthur
"Cluster bombing from B-52s are very, very, accurate. The bombs are guaranteed
to always hit the ground."-USAF Ammo Troop

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Re: Oil at 114$

An important factor people seem to forget here, is that high oil and energy prices will result in more carefull consumation. People will choose cars that use less fuel, and when constructing buildings people will think about the price to heat.

Next to that, nobody seems to include inflation in the calculation. 100$ isn't the same as 100$ 2 years back.

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Re: Oil at 114$

"People will choose cars that use less fuel"


Yup... eventually tongue

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Re: Oil at 114$

Thats true but it's still alot

In UK petrol prices are about 1

"Whoever said the pen is mightier than the sword obviously never encountered
automatic weapons."-General Douglas MacArthur
"Cluster bombing from B-52s are very, very, accurate. The bombs are guaranteed
to always hit the ground."-USAF Ammo Troop

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Re: Oil at 114$

1 British pound per liter = 7.54054027 U.S. dollars per US gallon

holy shit. Why am i complaining about $4/gall?

oh right. I take take the underground or any other public transportation to go to work.

Brother Simon, Keeper of Ages, Defender of Faith.
~ ☭ Fokker

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Re: Oil at 114$

So much oil HAS been found as to beggar the immagination. 3 times as muc oil as all the known reserves of OPEC exist in untapped fields.

Expect the high prices to get someone to tap them soon wink

Everything bad in the economy is now Obama's fault. Every job lost, all the debt, all the lost retirement funds. All Obama. Are you happy now? We all get to blame Obama!
Kemp currently not being responded to until he makes CONCISE posts.
Avogardo and Noir ignored by me for life so people know why I do not respond to them. (Informational)

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Re: Oil at 114$

Darkside and Stoned llama like cats!!!

*i came from the ashes, the ashes of purple haze*

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19 Reply by ThisYearsMostOpen (edited by [TI] Primo 23-May-2008 07:21:21)

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Re: Oil at 114$

$15 per gallon in uk now - if it hit $10 in usa they would riot but us brits like to get [tapdanced] over in all ways by everyone....

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Re: Oil at 114$

main diffirance is taxes

also oil is not overpriced.

Sure new fields are being found but with the rate were consuming, its gonne end at some point

<@Nolio> Ilu was the man back in the day,he even made monkeywrench and arganon look good for half a round =p
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<@Nolio> *half a round  =p
<@iluvatar> still
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21 Reply by ThisYearsMostOpen

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Re: Oil at 114$

yeah petrol here isl like 1.10-1.25

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  • Han
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Re: Oil at 114$

Petroleum Products Yielded from One Barrel of Crude Oil in California

Finished Motor Gasoline 51.4%
Distillate Fuel Oil 15.3%
Jet Fuel 12.3%
Still Gas 5.4%
Marketable Coke 5.0% 
Residual Fuel Oil 3.3%
Liquefied Refinery Gas 2.8%
Asphalt and Road Oil 1.7%
Other Refined Products 1.5%
Lubricants 0.9%

One barrel contains 42 gallons of crude oil. The total volume of products made from crude oil based origins is 48.43 gallons on average - 6.43 gallons greater than the original 42 gallons of crude oil. This represents a "processing gain" due to the additional other petroleum products such as alkylates are added to the refining process to create the final products.

Additionally, California gasoline contains approximately 5.7 percent by volume of ethanol, a non-petroleum-based additive that brings the total processing gain to 7.59 gallons (or 49.59 total gallons).


So, at $120 a barrel and 50 gallons of fuel (not counting the other stuff) thats $2.40 just for the crude it takes to make the stuff.
Add in transportation, refining, storage, retail overhead etc and you complain about $3.50 a gallon?

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  • Xeno
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Re: Oil at 114$

Price of oil goes up, and then so does the price of ethanol.  As the price of ethanol goes up, so, therefore, does the price of corn or sugarcane from which ethanol is produced.  As the price of corn or sugracane goes up, farmers convert more of their fields to the production of those crops rather than producing grain, etc..  The more farmers that do so, there less food is available on the market, creating inflated food prices due not only its shortage, but also the higher transportation costs due to the higher price of oil / ethanol / gasoline.

/Panda wonders why rich humans feed their pet automobiles human food, while so many of the poor, starving humans are protesting, rioting and dying, not only from starvation, but also due to their governments actually shooting them for protesting the lack of food.

/Panda should be glad, he supposes, that humans aren't making ethanol from bamboo.

/Panda wonders if the humans are embarraced by their stupidity and what is clearly the failure of their so called 'civil' lization.

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  • Han
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Re: Oil at 114$

you mean civi "lie" zation

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  • Han
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Re: Oil at 114$

Thomas Jefferson once asked the question: Why is it that the financial sector makes so much money when they actually produce nothing

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