Oils hit another high

[youwanttoshagme]

For those that are interested....

http://uk.reuters.com/article/topNews/idUKT14048520080626?feedType=RSS&feedName=topNews

NEW YORK (Reuters) - Oil prices surged nearly 4 percent to a record over $140 a barrel on Thursday after Libya said it was studying possible options to cut output in response to potential U.S. actions against producer countries.

U.S. crude settled up $5.09 at $139.64 a barrel, after hitting an all-time high of $140.39 earlier, eclipsing the previous record of $139.89 a barrel hit on June 16. London Brent crude settled up $5.50 at $139.83 a barrel.

 

[tubuler]

And the Bush regime says,"Mission Accomplished!"

 

[Friday on my mind]

And the Bush regime says,"Mission Accomplished!"

Well all his friends in the oil biz are doing quite well.Maybe that was the mission?

 

[tubuler]

^You think it's a coincidence that the price of a barrel of oil went from $28 to $140 during the Bush presidency? I don't.

 

[titsrock]

The Dow dropped 360 points. Lowest close since 9/11/06. Our economy is on a one-way ticket to the shithole. The Feds "Rate Cuts" have done nothing for the economy. Some OPEC Fuckhole claimed oil was going to go toward 150-170 per barrel and there's nothing anyone can do about it.

Gas consumption has dropped in this country. Consumer confidence is at a low point. George Bush now wants to "bless" North Korea, a former "AXIS OF EXIL" nation, but yet we can't "negotiate" with Iran? We can't normalize relations with Cuba? WTF? We have been getting pounded nonstop by Mother Nature since Katrina2005...all these fires/tornadoes/floods are going to cost us $300billion and that's BEFORE any Hurricanes hit us..if they do (which the weather people think we'll get 5 big ones this season)...

Basically....hunker down in your home and don't come out until 2009...

 

[youwanttoshagme]

Isn't it more of a case of "The US fucks themselves again?"

Libya are the ones inflating the price due to US aggression. Surely (and in a very simplistic response) if the US acts a little more friendly, Libya will increase production thus lowering the price. Simple. Just why can't the US see that???

 

[tubuler]

^It's never "simple". People have a stake in both sides and common sense doesn't always triumph over greed, selfishness, stupidity, etc. etc. etc....

 

[youwanttoshagme]

^It's never "simple". People have a stake in both sides and common sense doesn't always triumph over greed, selfishness, stupidity, etc. etc. etc....

Was keeping it brief as still doing work. I'm very aware of it it being a lot more complicated. Could have gone into details, but my concentration is elsewhere at the moment

 

[Funkwerkz]

Forget everything!!!!
Come to Turkey with the green bucks, i will double, triple,..... your money in any time. Turkish banks give 22% interest to Turkish Lira. Just provide me the pay&view porn to me for comission. lol I'm serious about the interest.

 

[titsrock]

Isn't it more of a case of "The US fucks themselves again?"

Libya are the ones inflating the price due to US aggression. Surely (and in a very simplistic response) if the US acts a little more friendly, Libya will increase production thus lowering the price. Simple. Just why can't the US see that???

Do you have any proof of this? One of the most interesting aspects of Dubya's presidency is removing Libya from "terrorist state" status. Then he promised Gaddafi a bunch of "investment and trade" deals which he hasn't followed up on.

I find it hard to believe that Libya is fucking with the price of oil...frankly.

 

[Psychology]

I should run for president when I turn 35, though no body would vote for me. No lobbyist affecting me, I'd cut my income so that it isn't in 6 figures, power to the people, legalize prostitution, take away the fucking insane incomes of celebs. No way would anyone vote for me.

 

[Friday on my mind]

Do you have any proof of this? One of the most interesting aspects of Dubya's presidency is removing Libya from "terrorist state" status. Then he promised Gaddafi a bunch of "investment and trade" deals which he hasn't followed up on.

I find it hard to believe that Libya is fucking with the price of oil...frankly.

Personally I think he may have meant the Saudis.But they are at fairly high rate of production anyway so who knows?:dunno:

Edit: I see the Gaddafi reference now so i guess he does mean Libya which i really don't get.The number one country on the production side who can affect the market is the Saudis and they have not done anything to cut back.Its not production its the speculators and demand from china and india keeping the price high.

 

[dave_rhino]

Are we still talking about sex oil?

 

[youwanttoshagme]

Do you have any proof of this? One of the most interesting aspects of Dubya's presidency is removing Libya from "terrorist state" status. Then he promised Gaddafi a bunch of "investment and trade" deals which he hasn't followed up on.

I find it hard to believe that Libya is fucking with the price of oil...frankly.

Read the link that I posted. Libya is even referenced in the short quote I posted under the link

 

[Legzman]

Oil prices go up, breaking record upon record.
Oil company profits go up, breaking record upon record.
Our wallets get lighter and lighter, causing us to have to conserve fuel and cut spending on other things which further serves to fuck an already shitty economy.

All the while "they" say, whoever the fuck "they" are, that we're not being gouged, its all supply and demand...I call bull-mother-fucking-shit! I have to agree though, we're not being gouged, we're being raped plain and simple!!!

 

[lovejoy]

For those that are interested....

http://uk.reuters.com/article/topNews/idUKT14048520080626?feedType=RSS&feedName=topNews

NEW YORK (Reuters) - Oil prices surged nearly 4 percent to a record over $140 a barrel on Thursday after Libya said it was studying possible options to cut output in response to potential U.S. actions against producer countries.

U.S. crude settled up $5.09 at $139.64 a barrel, after hitting an all-time high of $140.39 earlier, eclipsing the previous record of $139.89 a barrel hit on June 16. London Brent crude settled up $5.50 at $139.83 a barrel.

As I have stated in another thread, the Memorial Day weekend marked the beginning of the end of the American empire with 4 million miles less than previous year. GM stock was hardest hit with worse still coming.

CIBC economist Rubin predicted a 200 dollars a barrel of oil transformed to $7.0 a gallon of gas. I am paying close to $5.00 now with premium gasoline, what are you talking about.

It only take a roadside suicide bomber to disrupt the oil pipelines in southern Iraq, the pirates in Somali to hit the oil tankers, the rebels in Nigeria to kidnap the workers and sabotage the Nigeria oil field and Libya to cut the oil production and bump the cost to $200.00 a barrel of oil. It does not have to wait until 2012 as CIBC economist Rubin stated.

As the world economy continue to be unstable, the price of oil will continue to go up and up. It will take 3-6 months to have the real ripple effects to hit the supermarkets but the immediate effect will be the travel industry including airlines, couriers etc.

We go from slightly over 20 bucks a barrel when Bush took over in 2000 and reached $140 dollars in less than 8 years. We have to take a hard look at McBush policies and should we have another 4 years of McBush.

I firmly believe if the gas price goes to $5.00 a gallon, the automobile inudstry will crumble and GM will soon shut its door because GM is not ready for fuel-efficient cars, hydrid cars, hydrogen cars, etc.

What is our future? Are we going to sit here and wave the white flag ?

Reduce consumption, carpool, take the mass transit, walk, bike and reduce consumption and addiction of gasoline !

It is each and everyone`s responsibility to reduce consumption of gasoline !

 

[Legzman]

Reduce consumption, carpool, take the mass transit, walk, bike and reduce consumption and addiction of gasoline !

It is each and everyone`s responsibility to reduce consumption of gasoline !

Thats all fine and dandy, but it's not gasoline that the world is addicted to, its oil. Oil goes into soooooooooo much more than just gasoline. Its either in or used to make 99% of the products you use on a daily basis. Oil prices won't just effect the price of everything else, just due to transportation cost alone, but the cost of manufacturing as well. As well as, in some cases, what goes into certain products.

For example plastic. Just think about how common plastic is?

 

[Member2019]

Talking 'bout my ...

Talking 'bout my speculation ... talking 'bout my speculation ... my, my, my speculation ... talking 'bout speculation. Just a little song I've been singing in my head, especially since I can come up with alternate lyrics.

Petroleum will never be $1/gallon again, ever. But the current speculation, based on various factors -- from the falling dollar, to the increased (and will continue to increase) Chinese and Indian usage, to the Russian controls to the newer additives (it's funny how things passed aren't enforced until the next administration) and the constant "no new refineries" v. "we need our oil" bipolar reality -- will eventually pop and it will return to $2-3/gallon.

People are putting money into commodities right now, pulling out of real estate. Same thing happened when people took money out of stocks and put them into real estate. It is a fad, but we've still got several years to go before it wears out.