Gas prices about to skyrocket (again)

Yeah, that just makes him a criminal... not a greedy person

 

You are doing the same thing that liberals did. You are no better then the liberals you complain about.

 

You are asking right wingers to understand business and economics.... ain't gonna happen.

 

Did you ever hear of Harry Truman and "The buck stops here?"

Liberals were blaming the man in charge.

And they had a great time doing it as I recall.

Now it's Obama's turn to man up.

 

Keep kidding yourself. No skin off my nose.

 

Yeah, I rather noticed the thunderous silence in response to the points I made. I guess the folks in this thread have no interest in reality or facts, they just want to bash Obama, even if it's over something that's purely imaginary.

 

And you obviously have no clue what "peak oil" means. It does not mean that we're out of oil, it means that the rate of production is no longer increasing. And world oil production has been flat since 2004. Look at the numbers for yourself.

year production change
1980 59,420.56 NA
1981 55,904.87 -5.92 %
1982 53,312.60 -4.64 %
1983 53,137.59 -0.33 %
1984 54,379.94 2.34 %
1985 53,844.19 -0.99 %
1986 56,075.61 4.14 %
1987 56,512.75 0.78 %
1988 58,588.86 3.67 %
1989 59,684.25 1.87 %
1990 60,399.38 1.20 %
1991 60,172.96 -0.37 %
1992 60,105.87 -0.11 %
1993 60,152.93 0.08 %
1994 58,734.29 -2.36 %
1995 59,900.80 1.99 %
1996 61,216.15 2.20 %
1997 63,255.35 3.33 %
1998 64,402.00 1.81 %
1999 63,277.71 -1.75 %
2000 66,234.08 4.67 %
2001 65,828.30 -0.61 %
2002 64,839.12 -1.50 %
2003 67,297.35 3.79 %
2004 70,581.96 4.88 %
2005 72,022.33 2.04 %
2006 71,895.89 -0.18 %
2007 71,433.49 -0.64 %
2008 72,217.16 1.10 %
2009 70,894.27 -1.83 %
2010 72,423.37 2.16 %

http://www.indexmundi.com/energy.aspx?product=oil&graph=production

 

America has 300 years of already extracted oil sitting on barges with nothing to do.

 

Saudi Arabia has huge reserve capacity. Not to mention huge reserves in the United States. Please stop pretending that we're running out of oil when that is clearly not the case.

Go look up "proven reserves" and you will understand that "peak oil" is just a scam.

 

Setting aside for the moment the fact that there are questions about how reliable those proven reserve figures are, when it comes to prices, how much oil is in the ground does not matter that much. What matters is how much is being produced at what cost and how much is being consumed. Basic supply and demand, yes? You can see for yourself that oil production has been flat for years. And given the price of crude, somehow I don't think it's because oil producers are trying to limit supply.

And peak oil is not a scam, it's a fact of life. You do realize that the US used to be the world's largest oil producer, right? And that we used to export huge amounts of it, right? Peak oil is the reason that changed. See for yourself.

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

 

Refresh our memory.

What points were you trying to make that no one responded to?

 

Obama obviously knew this about Chu and if he didn't he should have, yet still nominated him for Energy Secretary anyway. How obvious does it need to be for everyone here, the gas prices we suffer under today was all part of Obama's plan for the economy in the first place or Chu wouldn't be where he is.

I'd just like for any undecided voters to look closely at the price the next time you fill up at the pump. If you enjoy paying that, then vote for Obama in Nov 2012. if it's harming your budget and family, just remember who's bright idea it is for you to pay that much. Then vote for anyone BUT him.

 

Conservatives have been saying this for years and have been wrong the whole time. If a conservative predicts it will happen there is a good chance it won't.

I've been hearing $5 a gallon gas for four years.

 

Chu of course is a liberal.

And while he's not making a prediction he is Obama's energy secretary and so I guess we would call $10 a gallon Obama's goal.

But not in an election year when it might cost him the use of Air Force One and all those free taxpayer funded family vacations.

 

Let me cut you off.

Linky.

 

"Peak oil" is a lie.

Oil companies are mainly interested in oil that can be brought to market and sold at a profit. If there is no pipeline to bring oil from a particular region to market, then the oil is not "proven". It doesn't mean the oil isn't there.

People believe in "peak oil" for the same reason they buy into every other bogus crisis. Because the impending doom is always accompagnied by a glimmer of hope.

 

The problem with peak oil that is so near and dear to the hearts of liberals is that we keep finding more of the stuff and raising the bar.

 

Sure, my post was a few pages ago, so I suppose it's okay to repost it.

 

I've provided you with decades of oil production figures that show unequivocally that peak oil is real and is happening now. Do you have any rebuttal other then repeatedly shouting "Nuh-uh!"? Putting your fingers in your ears and closing your eyes isn't going to make it go away. You're seeing it every time you buy gas.

 

We have already covered most of that.

Obama has continued the liberal policy of slowing down or stopping new oil production in the US.

From the Gulf of Mexico to Alaska he has been the main roadblock to Drill Baby Drill and that has helped drive up gasoline prices.

So has his out of control spending and the Fed printing too much money caused speculators to invest in commodities like oil as a hedge against the Obama inflation bubble that is sure to come.

 

If commodities traders think economic growth in Asia is going to increase demand for oil, they will buy oil futures. This demand for futures contracts pushes oil prices up even further, creating what is called a speculative "bubble". Once demand falls off, traders all rush to sell their futures as fast as possible and minimize their losses, thus the bubble is popped, as happened in 2008. Has very little to do with politics.

Oil production hasn't increased, because consumption is not actually increasing. The demand is speculative.

"Peak oil" is a liberal "sky is falling" scenario that relies on a deliberate misinterpretation of something called "proven reserves".

Oil companies are in the business of making money. Oil companies are only interested in oil that can be delivered to market and sold at a profit. Even though a country might have a lot of oil they want to sell, if there are no pipelines to bring the oil to market economically, then the oil is not "proven". That doesn't mean the oil isn't there. Or that our great, great grand-children won't be able to get to it 100+ years from now. It just means the oil cannot be produced profitably until there is real demand (consumption), and willingness to invest in the necessary infrastructure.

Rubbish. The reason Middle East oil is "easy to get" is because that's all we've been doing there for the past 100 years. All the pipelines, refineries and other infrastructure are already in place. It makes sense to suck out of every last drop before the equipment is abandoned.

If and when the Middle East ever runs out of oil, we will take all the knowledge and experience we have acquired in that time, and find it just as easy to drill for oil anywhere else.

The truth is the exact opposite. We're able to drill much deeper, with less effort, yielding far more oil. The genius is convincing people to pay $4/gallon. But that's why we have *******s, the "useful idiots".

 

That's the problem, Soyndra yes, and the pipeline NO???

 

Yeah a Goat was a pretty car, love the interiors......My friends Dad had one, dark Blue. I remember the seats all pleated real sweet........

 

I agree , Flounder , man , I bought groceries 2 weeks ago , spent over$275.00 on staples , mostly canned goods . . produce is sky-high , lol , cranberry juice is $5.00/half gallon my daughter has to drink some everyday ) whew , a small sack of Idaho potatoes was almost $7.00 . thank God pork&beans & hot dogs was on sale , but what has happened to mac&cheese to make it so dang expensive ?

I heard today that gas will be going up , again , said it'd be $5/gal by June.

I guess what y'all pay in NY would be about double or triple what I pay here in WNC ... but we do have cheaper tobacco products in NC , can I ship ya a carton?

 

Then why has US oil production increased since Obama became President, hmmmmm?

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

It actually says a lot that we've managed to stall the inevitable fall in production 40 years after peak oil in the US. Although I think the credit for that belongs mainly to the oil companies and new technology, not anything to do with politics.

High gas prices are due to the market, not the President. To be blunt, there's little the President can do about gas prices one way or the other.

Drill baby drill is an idiotic bumper sticker slogan that is completely out of touch with reality. No amount of drilling will get us out of this situation. US oil production peaked in Nov 1970 at 10,044,000 barrels per day. US production for Nov 2011 was 5,842,000 barrels per day. This has nothing to do with policy or permits or drilling, it's about the physical conditions of the fields and the crude in the ground. Incidentally, the US imports a tad more then half of its oil, so even if you could wave a magic wand and restore 1970 production levels, we'd still have to import.

Oil consumption hasn't increased? The demand is purely speculative? Since 2004?? Are you serious? That may be one of the least believable claims I've seen on this board. And that's saying something. And it's easily disproved.

World oil consumption

2000 76,963.45 1.17 %
2001 77,737.52 1.01 %
2002 78,328.50 0.76 %
2003 79,954.77 2.08 %
2004 82,718.90 3.46 %
2005 84,314.25 1.93 %
2006 85,396.49 1.28 %
2007 86,218.84 0.96 %
2008 85,605.94 -0.71 %
2009 84,213.48 -1.63 %

http://www.indexmundi.com/energy.aspx

The recession has reduced consumption the last few years, it's true. But the recession started in 07, not 04. And it's not that dramatic a reduction in consumption.

And no one's talking about abandoning any equipment. But the fact is that that equipment will be less and less productive as time goes on. Oil wells have a finite lifetime, that's just a fact. And pretending that we can defy gravity forever with "I think I can, I think I can!" is just foolish. New technology has helped, yes, but new technology is generally more complex then older ones, and therefore more expensive. How much oil is in the ground doesn't really matter that much. What matters is how much is coming out of the ground. You seem to be unable to grasp that.

Yes, the Middle East's oil is easy to get - which is why it's been tapped. There just aren't more Saudi Arabias out there just waiting for us.