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The Price Of Oil - Page 19

That is just the thing. The US used to be the totally undisputed king of oil consumption, but now we got some serious competition that is going to surpass our usage soon...China. Demand isnt going anywhere but up for the immediate future, so prices can be doing anything but following. Alternative sources will help, but until the one source gets identified and the support structure built around its production, it will only put a small dent into the oil demand. The thing that is needed quickly is more drilling. The US and Canada need to open up some drilling in Alaska and the North. All of S. America and Central need to look into off-shore exploration...there is a lot of money in it. The biggest problem with anyone investing in S. American exploration is that a dictator like Chavez will just take all your investment. China is a economic juggernaut, but with all that land, there likely is some oil somewhere on it. I know they have a bunch of coal so there likely is a bit of oil as well.

It is pretty strange to say it, but if Russia had not put that much investment into drilling oil, the price would be even higher today.

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In your survey you left out the most basic reason for the price of oil, the 1960s hippie generation. They want everything pristine, clean, green, no smog, no oil spills, no dust, nothing to endanger fish, or birds, no matter what the cost, or who it hurts. Humans and their needs count for absolutely nothing.

ENOUGH! In my immediate area alone I have seen a man, his tractor, and his disc, thrown in jail and harassed because he owned land and wanted to farm where there might be a kangaroo rat. There was never any evidence that he so much as harmed one rat, but they were in the area.

I personally talked to a man that in honest ignorance bought land in this same area. The EPA saw him driving his pickup on his own land and told him if they caught him driving there again they would throw him in jail. They made a believer out of him. He was still scared when I talked to him. He now owns a piece of land he will never see again.

I have talked to men that installed a natural gas pipeline across the Mojave desert. They told me if they were caught by the EPA ( who watched with binoculars ) getting back in their truck without walking all the way around looking for the desert tortoise their paycheck would be waiting before the could get back to the office.

I also talked to the owner of a company that serviced oil wells. He said they had "abandoned" thousands of oil wells because they pumped a little water with the oil and "dumping" the water was now illegal. He also told me that abandoning an oil well meant pouring the well hole full of cement so it could never be used again.

And as long as we're on the subject of water, a major oil field last year finished a major project of laying a 4 foot pipeline about 10 miles from their oilfield out to the farm land. The reason? The EPA will not let them drain the water back into the soil in the oilfield, although it is pure enough that farmers will buy it for irrigation.

And if you're still wondering why the price of gas is about $2 in LA and about $3 in Bakersfield with stations along the highway approaching $4? I was privileged several years ago to talk to an insider in the industry. He said the price of gasoline is set by a committee in each area and it depends on the economy of the area. The question they ask themselves is, "How much can we charge and still sell gasoline?"

I saw a freeway overpass project held up for over a year because the EPA thought there might be a kit fox den nearby. And the EPA's latest trick is to tell farmers they can't make dust in the San Joaquin Valley. When people in the big city can't go anywhere, or buy food, because we are buying all our oil from dictators and we can't farm in the dust, the EPA will rejoice! When are we going to learn? The picture is much bigger than the price of oil in LA. We are losing our freedoms one by one.

And on a lighter note, I once did some service for an oil man in middle management. He was being moved from California to Houston. On the back of his motor home was a sign that read, "PLEASE GOD, LET THERE BE ONE MORE OIL BOOM AND I PROMISE I WON"T BLOW ALL MY MONEY AGAIN!"

The Price Of Oil History & Civil Business Politics

Oil jumps to $110 a barrel as dollar falls to new low

Gasoline and oil prices extended their record-setting streaks Wednesday, with gas at the pump reaching a new high of nearly $3.25 and crude surpassing $110 for the first time.

The gains came as a weakening dollar led investors to shrug off an Energy Department report that crude oil and gasoline supplies jumped last week.

The national average price of a gallon of regular gas rose by 1.9 cents overnight to $3.246 a gallon, a new record, according to AAA and the Oil Price Information Service. Pump prices are following crude's recent surge and could rise as high as $3.75 a gallon this spring, analysts say.
Ref. https://deseretnews.com/article/1,5143,695261161,00.html

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Soon I will not be able to go to work. I hope that something happens soon. I wonder how much a bicycle will run me.

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I'm fortunate enough to be only 3 miles from my office, and two blocks from my daughter's school. If worse came to worst, we could bike it or walk it, even. And it definitely is getting worse... I'm so amazed at how quickly the prices go! Locally, we are about $3.53 for regular gasoline.

The Price Of Oil

Sky-High Gas Prices

It's not the spectacular seascapes which leave visitors to the tiny town of Gorda, Calif., breathless - it's the gas prices. The sole gas station in Gorda sells the most expensive gas in the country - $5.60 for a gallon of premium. But business is still brisk along this remote stretch of the Pacific Coast Highway, where the nearest town is almost three hours away.
Ref. ABC Nightline

The Price Oil - Page 19

News

Think about it.........again. There are two things that affect the price of gas. "It's almost vacation time" and "The law of supply and demand." The nearest town is almost three hours away! It happened last year in March and 2006 in March and 2005 in March. The price starts going up in March for summer vacation driving every year. You want some good news? It will go back down in August. ( Vacation driving is over then ) And the bad news? Mark your calendar for March 2009. Yep, it will go up again.

Edited: mousetrails on 27th Mar, 2008 - 3:05pm

The Price Oil Politics Business Civil & History - Page 19

YEs summer driving season is almost on us and that means a lot more money is going into the gas tank. I think it would be better received if the oil companies profit margins were not in the 200-300 percent region. It seems to me that they are using the average price of oil as a way to sock it to us the middle and lower class. We are the one who are struggling to be able to get to work and still be able to put food on the table. Maybe we will assign a child to each meal. Only feed one per meal. They will understand we have to cut back since gas is likely to hit a record $4 or more per gallon.