scooter3 Posted June 7, 2008 Report Share Posted June 7, 2008 Found this today while reading up on all of the oil crap. Pretty interesting. http://biz.yahoo.com/hftn/080606/060608_tu...rtune.html?.v=3 Quote Link to comment Share on other sites More sharing options...
emperor72 Posted June 7, 2008 Report Share Posted June 7, 2008 Im going to try to give my analysis as gently as possible- Mr Tully, the author of that article, is either lying through his teeth or is a total moron. My guess is that he is a "Fellow" and the American Petroleum Institute or some other oil industry related think tank. Why? Well, his assertion that part of the reason for high oil prices is "mismanaged oil production" in Russia and Venezuela. Any idea what those two countries have in common? Nationalized oil companies. Now Russia has sold some of its energy assets to private companies but the western energy companies have been shut out. In the case of Venezuela, oil profits are actually being used for the good of the people who live there. To Exxon, BP, etc..this is unacceptable. Oil profits need to go to western investors, not the people who live on the land! So aside from demonizing these two countries, he makes no mention of Hubberts Peak. Oil prices are never going down. I said the same thing here is 2005, and was ridiculed. This is the begining of Peak Oil, and it is going to get worse. Anyone who tells you that this is going to get better is lying to you. Quote Link to comment Share on other sites More sharing options...
.justin. Posted June 7, 2008 Report Share Posted June 7, 2008 Oil prices are never going down. I said the same thing here is 2005, and was ridiculed. As the author mentioned, peoplethought the same thing about the housing market and dot com. Much like those two situations, this current pricing system is driven by speculators. Frankly, I'm one of them with about 10K in BPT, PBR and USO now. USO went up almost 8% today alone. Quote Link to comment Share on other sites More sharing options...
zanis520 Posted June 7, 2008 Report Share Posted June 7, 2008 i believe it. hes just sayin that some day it will come down. that could be 5 years from now and gas has gotten to $20 a gallon. people wont buy it anymore and it will go down. it will go down, the question is, when? Quote Link to comment Share on other sites More sharing options...
montanass Posted June 7, 2008 Report Share Posted June 7, 2008 Its economical terrorism. The supply and demand stuff may have something to do with it, but its not the whole story. The heart and soul of this nation is the transportation industry. We depend on fuel to travel and transport/ship goods, and if that becomes un-affordable then it hurts the economy severely and the country will slowly start to shut down. This is my thought on this anyways, I'm sure it has something to do with the war in the middle east among other things. Quote Link to comment Share on other sites More sharing options...
emperor72 Posted June 7, 2008 Report Share Posted June 7, 2008 As the author mentioned, peoplethought the same thing about the housing market and dot com. Much like those two situations, this current pricing system is driven by speculators. Frankly, I'm one of them with about 10K in BPT, PBR and USO now. USO went up almost 8% today alone. As a speculator you must understand trend analysis. The trend is upward, and has been since 2001. Remember, Brent futures closed @ just over $28 a barrel on 1/21/2001. You might be able to account for 20% with speculation, but the rest is due to supply issues- as in, we are cross peak. So to be clear, we are never again going to see fuel under $3.50 a gallon. Just imagine that. Again, in 2001 we were paying roughly $1.50 a gallon. Quote Link to comment Share on other sites More sharing options...
sonickoolten Posted June 7, 2008 Report Share Posted June 7, 2008 i wonder if prices will go down when more ppl ride cars that run on electricity / hybrids/ hydrogen......... cuz right now id say only about 1-5 percent have them....... Quote Link to comment Share on other sites More sharing options...
BlackSS04 Posted June 7, 2008 Report Share Posted June 7, 2008 this is just a misleading lie, sorry. once again if i haven't told you guys before, don't believe everthing you read & hear these days on the news. do all the research you possibly can on any given subject in order to base your own educated conclusion. they want us to believe what they feed us, well its not gunna be me my friends. Quote Link to comment Share on other sites More sharing options...
misterp Posted June 7, 2008 Report Share Posted June 7, 2008 ...You might be able to account for 20% with speculation, but the rest is due to supply issues- as in, we are cross peak... Totally. This is not like the OPEC crisis of the 70's, we are seeing a legitimate global supply/demand issue that is being compounded with effects from market speculation IMO. Mr. P. Quote Link to comment Share on other sites More sharing options...
eric.dally Posted June 7, 2008 Report Share Posted June 7, 2008 I agree with leftcoast_chevy I think one day it will crash and come down, but I don't think it will be for quite a while. Hopefully it happens before it ends up shutting down the whole nation. It just seems like such a depressing cycle we are in right now. As the price of gas goes up people spend less money on going out and making certain purchases, this hurts the american economy, driving the price of the dollar down meaning we have to pay more compared to other nations for oil, which again drives the price of gas up further. I don't know about you but i am seriouly worried about the future of our country. Quote Link to comment Share on other sites More sharing options...
scooter3 Posted June 7, 2008 Author Report Share Posted June 7, 2008 I agree with leftcoast_chevy I think one day it will crash and come down, but I don't think it will be for quite a while. Hopefully it happens before it ends up shutting down the whole nation. It just seems like such a depressing cycle we are in right now. As the price of gas goes up people spend less money on going out and making certain purchases, this hurts the american economy, driving the price of the dollar down meaning we have to pay more compared to other nations for oil, which again drives the price of gas up further. I don't know about you but i am seriouly worried about the future of our country. I certainly hope some of you are right. I have seen the good times and I think they are over. The whole economy is in a world of hurt. I feel really bad for my 16 year old. Here he is working two jobs just trying to make the two bills he has. His cell bill and only $20 of his insurance. The rest goes for having fun, buying the cloths he wants and gas. The poor kid had to put $60 in fuel in his 1994 S-10 SS and now only has a few bucks left over for fun stuff. If this is how it will be for him at 16 I can't imagine what he will have to deal with as he gets older and more bills come in. Quote Link to comment Share on other sites More sharing options...
backinblack Posted June 7, 2008 Report Share Posted June 7, 2008 oil will come down...once we've replaced it with a better alternative. E85 needs to be dropped quickly it is a terrible idea. Hybrid cars are another short sighted solution, $5000+ extra for a car that gets 10mpg better than a typical 4 banger civic? No thanks. The best solution right now seems to be algae, it's a shame the E85 lobby has blocked significant research into it. Quote Link to comment Share on other sites More sharing options...
sonickoolten Posted June 7, 2008 Report Share Posted June 7, 2008 everyone should jsut get a electric scooter they are so fun i remember when i was like 10 or 12 and i would be having a blast!!! lol Quote Link to comment Share on other sites More sharing options...
zeake Posted June 8, 2008 Report Share Posted June 8, 2008 everyone should just get a electric scooter they are so fun i remember when i was like 10 or 12 and i would be having a blast!!! lol I picked an old man up out of the street last week that had been bumped by a car. Scooters are not the answer. Unless everyone is riding them. Oil will not go down. It will only go up. China and India are using more than they ever have and are going to quadruple there use in the next decade. The economy is in much worse shape than the gov will admit. Why have they given money out as a stimulus? Well the economy is struggling. They are simply printing more money and making the dollar less valuable making the price of everything go up. Don't think I am right. Well how difficult is it for you to fill your tank completely up these days? The author of the article above is nothing more than a journalist what gives him the credentials to write this? Shawn Tully, editor at large is a dumbass plain and simple. Quote Link to comment Share on other sites More sharing options...
.justin. Posted June 8, 2008 Report Share Posted June 8, 2008 The author of the article above is nothing more than a journalist what gives him the credentials to write this? Shawn Tully, editor at large is a dumbass plain and simple. And what credentials do you have to counter his experience as editor of a economics-focused magazine? No insult intended whatsoever, I'm just curious. Based on my schooling, I have to give the observation a bit of credit, as there are many valid points. Quote Link to comment Share on other sites More sharing options...
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