$100 A Barrel Oil is on the Way

#376
#376
TennTradition said:
Federal transportation subsidy on transport of food and items of necessity. I would also have to imagine that if the government sees this happen, they will place an emergency repeal on ethanol subsidies to loosen the supply for food. But...I really don't know. It's a very good question...I may have to see what I can dig up on that one...Actually, I was lucky enough to have lunch with the Secretary of Energy last week (not just me of course...it was a group of 20 or so)...I would have loved to have had this question on my mind then. He was very frank and answered our questions in detail over lunch...I would have loved to see what he would have said to this....I think it would have been very interesting...
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I guess a lot would depend on the time frame. Having the cost creeping up would, as you say, almost certainly cause policy changes with ethanol etc but a sharp increase over a short period (for whatever reason) could put some real strain on things.
 
#377
#377
hndog609 said:
I guess a lot would depend on the time frame. Having the cost creeping up would, as you say, almost certainly cause policy changes with ethanol etc but a sharp increase over a short period (for whatever reason) could put some real strain on things.
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I would have to think that sharp increases would almost certainly be driven by sudden changes in supply - which would also likely be temporary. This is where the Strategic Petroleum Reserve would come into play - if it can last long enough. I went to a presentation a few months ago by ... I think her name was Melanie Kinderman (sp?)...who used to oversee the SPR. She explained some interesting aspects to the buildup and use of the reserve. Situations like this would obviously be ideal for its use...the real question is how much of a hiccup we could make it through. Obviously, this is where decreasing dependence on foreign oil is a key. Between climate concerns and "energy independence" we will hopefully shift away from a middle east-dependent fuel supply....hopefully :)
 
#378
#378
I need to change the title of this thread to $120/barrel oil is on the way. $117 today and climbing.
 
#379
#379
MG1968 said:
I'm still trying to figure out why a weak dollar is good for the economy. I know it makes US-made products cheaper overseas, but it's not exactly helping me out in my day to day living.
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Trade surplus, that's it IMO.
 
#382
#382
when prices run up not on fundamentals, but on speculation and momentum you can safety assume there is a bubble. the only question is when will it end, not if.
 
#386
#386
oklavol said:
$100 A Barrel Oil is on the Way
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I hope it hurries up and gets here... :ermm:

Is anybody still arguing about whether we should drill in ANWR or ramp up drilling in the Gulf of Mexico? If you are out there on the nay side, please offer us your reasons why.
 
#388
#388
overseasorange2 said:
I saw a show on TV a couple of weeks ago saying $200/BOE is possible....
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That is the high target price to some right now. Oil has been pushed by booming demand from emerging markets such as China that has coincided with long term supply constraints. Plus, a weak US dollar has also played a part in boosting the price of dollar-denominated commodities like oil and also attracted speculative inflows from hedge funds. So I guess it will come down to is how much folks want to push it up and our dollar and How much the US and China want to drive.
 
#391
#391
I was at a doc appt yesterday and while I was waiting I was looking at a Forbes mag and it was from Nov 2007 and it was about this oil and the "experts" were saying there was NO WAY oil would ever reach $100 a barrel, that it would likely be around $60 a barrel by January! Hahahaha!
 
#392
#392
All the oil this country needs for the next 100 years is in Utah and Colorado in the form of shale. All we need to do is invest and develop the technology to mine it.

Instead we spend a billion a week in Iraq. It's asinine. Not to mention greener alternatives like biodiesel from algae in th southwest. Bush is a huge disappointment in this area.
 
#393
#393
oklavol said:
All the oil this country needs for the next 100 years is in Utah and Colorado in the form of shale. All we need to do is invest and develop the technology to mine it.

Instead we spend a billion a week in Iraq. It's asinine. Not to mention greener alternatives like biodiesel from algae in th southwest. Bush is a huge disappointment in this area.
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I was unaware that GWB was making product, as well as marketing, decisions for Big Oil...Thank you for enlightening all of us.
 
#394
#394
I think its going to take years for the non-opec members to reach a supply that could change the price value.What is to stop opec from dropping there production when non-opec supply starts increasing? Yes there will be a point when opec cant control the price, but its along ways off.
 
#395
#395
oklavol said:
All the oil this country needs for the next 100 years is in Utah and Colorado in the form of shale. All we need to do is invest and develop the technology to mine it.
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or we could use that money to develop working alternatives instead of figuring how to squeeze a few more years out of our oil addiction.
 
#396
#396
wow i was looking at the first post of this thread and it said that oil was at 85 dollars a barrel. wow wouldnt that be nice. MYROBBINS what do u see teh future as on oil and gas prices?
 
#397
#397
wylievol said:
wow i was looking at the first post of this thread and it said that oil was at 85 dollars a barrel. wow wouldnt that be nice. MYROBBINS what do u see teh future as on oil and gas prices?
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I don't think (right now) that it will get up to $200.00 BUT... I think it is going higher. Im telling ya, if it builds a base at $120 and breaks $125..It's off to the races.
 
#399
#399
There's alot of $$$ setting on the sidelines right now and folks really dont want to invest into stocks. Folks are looking for fast $$$ and Oil has the momo behind it and that's (part) of the problem. Fast $$$ is pushing it higher.
 
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