$100 A Barrel Oil is on the Way

#130
#130
Part of the plan. Push up prices, make people feel poor, make people want government help. Evil people.

:)
 
#135
#135
too bad the savannah river is contaminated, there are several large lakes near the South Carolina/Georgia border that could solved their water crisis. It's a shame that huge water resource is contaminated.
 
#136
#136
Trading will be thin today due to Thanksgiving, i wouldn't be surprised to see oil break $100 today.
 
#137
#137
yeah, oil is at an all-time high, the dollar is at an all-time low.

if the Saudi's start trading oil in euro's the dollar will absolutely plummet. thats the only thing propping up the dollar, the fact oil is traded in dollars.
 
#143
#143
Oil will peak in January and February, because of the need for heating oil in the Northeast.
 
#144
#144
It may peak from a demand perspective but actually be lower if political tensions in the Middle East improve.

The news about Iran and calming of issues in Pakistan are reducing the fear premium.
 
#145
#145
Yeah, gotta love that Iran news. Seems we've been fed more of the line of Cheney's mushroom cloud nonsense.
 
#146
#146
I work for a major oil company, and believe me we do not like $100/barrel oil either. It is too high! Our rig cost has gone from $80,000/day to $250,000/day where I work. Again, for those of you that do not understand the oil biz, " The U.S. oil companies have NO control over the price of oil". If you want to get angry at someone look to ARAMCO or PDVSA(Venezuela). Please don't show your ignorance on the subject by blaming the Ceo's of the U.S. companies. Do they get paid ridiculous salaries? Hell Yes!! But no more than Ceo's outside the oil business(i.e.,Dell, MacDonalds etc....professional baseball players etc. SO GET OVER IT!!! You just want someone to hate.
 
#148
#148
overseasorange2 said:
I work for a major oil company, and believe me we do not like $100/barrel oil either. It is too high! Our rig cost has gone from $80,000/day to $250,000/day where I work. Again, for those of you that do not understand the oil biz, " The U.S. oil companies have NO control over the price of oil". If you want to get angry at someone look to ARAMCO or PDVSA(Venezuela). Please don't show your ignorance on the subject by blaming the Ceo's of the U.S. companies. Do they get paid ridiculous salaries? Hell Yes!! But no more than Ceo's outside the oil business(i.e.,Dell, MacDonalds etc....professional baseball players etc. SO GET OVER IT!!! You just want someone to hate.
Click to expand...

when oil executives make more money then any executive in history, and company quarterly profits are higher then any company in history, for a commodity that is essential for most people, I think it's time for the govt to study getting into the refinery business.

Govt surely can buy oil and refine it cheaper then the oil companies do it now. Growing up, the utilities like water, electric, were provided by muncipalities, and cooperatives, I think they same could be done for refining petroleum.
 
#150
#150
oklavol said:
when oil executives make more money then any executive in history, and company quarterly profits are higher then any company in history, for a commodity that is essential for most people, I think it's time for the govt to study getting into the refinery business.

Govt surely can buy oil and refine it cheaper then the oil companies do it now. Growing up, the utilities like water, electric, were provided by muncipalities, and cooperatives, I think they same could be done for refining petroleum.
Click to expand...

socialism hasn't solved supply and demand problems for any needed commodity.

Not every municipality is sitting on top of a natural oil reserve and the cooperative approach would never work either.

The US does need to end it's dependency on foreign oil and it does need to more fully exploit it's own oil resources, up to and including ceasing export operations. Government control is not the answer though, if anything, there's too much government control already and that's why we're paying $3 per gallon for gas.
 
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