Sawbuck a gallon
- Thread starter Last Mrk
- Start date
No way in hell.. why would it? the demand hasn't dropped when prices increased 300% over the last 7 years. It would be bad business to drop the price especially on a resource that is being depleted and can not be replenished.
Our current consumption habbits are NOT sustainable and that is just a fact of life.
Yes and no.
Large oil reserves (larger than Saudi Arabia) seem to be discovered every ten years or so. They just discovered one a month or two ago (forgot where). It delays oil depletion by 50 years or so. The significance of this is that ten years ago, the deposit was unreachable with the technology of the day. Technology has caught up.
My prediction is that public awareness will extend oil supplies beyond the doomsayers as people and corporations take action to conserve. At the same time, alternative technologies will slowly fill the gap. Solar energy efficiency doubles every five years, nuclear fusion (not fission) is 20-30 years away, and the public is opening up to fission as a source despite the waste...along with any other technologies that I missed.
jamies98lsc
Registered
it might drop if we get a president in office who isnt money hungry. george bush keeps prices high because the more he makes us pay, the more kick back he gets from the oil companies. yeah i said it, president bush is crooked too, our president, and if you dont want to believe it, you are a fool. we are living in a country that is hurting insanely financially, yes that dumb ass is sending money to other countries hand over fist, and feeding this nonsense war with tons of money too. if we never went into this war, this country wouldnt be where we are all right now, its all your presidents fault. this isnt the land of the free anymore, its the land of the broke and struggling. you watch what happens if gas and food keeps going up, you think we have alot of crime right now??? we havent seen nothing, gas stations are going to be robbed for fuel, not money, grocery stores will become targets, people will be shot mowing their lawns just so other people can steal their gas cans. just wait and see. i'm sorry but i have a very negitive outlook on this future of ours, this country is doomed.
our government has an unbelievable stash of oil barrels, they say its for emergency, hmmm, president bush says no to the people who want to tap into our reserve, he says there is no need to do that, no need??? we have our own oil million and million of gallons but instead, we'll keep paying the bastards in other countries for theirs, we also have a huge oil field under our own country, alaska is loaded with oil, but no one will let us put oil drills up there because of the animals that live there, so tell me what the difference is between a chunk of land with animals, or a rig in the gulf with millions of sea life around it, why is it ok to drill in the gulf but not in alaska. i dont know, i dont get it, who cares, the people who run this country got it made anyway, while we all get that brown smelly end of the stick.
our government has an unbelievable stash of oil barrels, they say its for emergency, hmmm, president bush says no to the people who want to tap into our reserve, he says there is no need to do that, no need??? we have our own oil million and million of gallons but instead, we'll keep paying the bastards in other countries for theirs, we also have a huge oil field under our own country, alaska is loaded with oil, but no one will let us put oil drills up there because of the animals that live there, so tell me what the difference is between a chunk of land with animals, or a rig in the gulf with millions of sea life around it, why is it ok to drill in the gulf but not in alaska. i dont know, i dont get it, who cares, the people who run this country got it made anyway, while we all get that brown smelly end of the stick.
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Not sure about that. 80 proof Absolut Vodka is around $60 a gallon but people still rob liquor stores for the cash. 
sleeper
Former LOD President
Wow, some serious misconceptions in here.
First of all, demand has gone down. the current price of oil isn't because of a supply / demand imbalance, it is due to speculation. People think it will go higher, so it goes higher. Of course, we've shown that we'll pay it, to a point, but demand has reduced. I know i've reduced my demand. I just picked up an escort for daily driving duty, and I won't be using my boat as much.
Second, it's not the president's fault. Jamie here makes a lot of wild accusations that seem typical of a brainwashed liberal. Fact is, Bush just doesn't have that much control over it. Weak dollar + speculation = high oil. The money we're sending "hand over fist" to other countries is not significantly more or less than it was in years past under Democratic presidents. The war is a very small portion of the federal budget. And there is no need to tap into the strategic oil reserve, because there is no shortage in the supply of oil. That's the same reason OPEC isn't raising production... because there's already plenty to go around. Sooner or later, the speculators will get bit and the oil bubble will burst. $65 a barrel is sustainable. $120 a barrell is not, not at all. $30 a barrell isn't sustainable either... some of the new reserves we're pulling oil from don't give up the oil for less than $30 a gallon, and there needs to be some profit there if the company is going to pull it out of there.
If you still think it's Bush's fault, consider this:
Those facts up there are all true. Note that the snippet (forwarded around the internet for months now) doesn't assert causality... it simply states facts. I'm not going to assert that this is all the fault of the demoncrats, but it's certainly not the fault of Bush either. If you want to blame the politicians, there's plenty of blame to go around... and i'd start with the ones who want to raise your taxes.
First of all, demand has gone down. the current price of oil isn't because of a supply / demand imbalance, it is due to speculation. People think it will go higher, so it goes higher. Of course, we've shown that we'll pay it, to a point, but demand has reduced. I know i've reduced my demand. I just picked up an escort for daily driving duty, and I won't be using my boat as much.
Second, it's not the president's fault. Jamie here makes a lot of wild accusations that seem typical of a brainwashed liberal. Fact is, Bush just doesn't have that much control over it. Weak dollar + speculation = high oil. The money we're sending "hand over fist" to other countries is not significantly more or less than it was in years past under Democratic presidents. The war is a very small portion of the federal budget. And there is no need to tap into the strategic oil reserve, because there is no shortage in the supply of oil. That's the same reason OPEC isn't raising production... because there's already plenty to go around. Sooner or later, the speculators will get bit and the oil bubble will burst. $65 a barrel is sustainable. $120 a barrell is not, not at all. $30 a barrell isn't sustainable either... some of the new reserves we're pulling oil from don't give up the oil for less than $30 a gallon, and there needs to be some profit there if the company is going to pull it out of there.
If you still think it's Bush's fault, consider this:
Those facts up there are all true. Note that the snippet (forwarded around the internet for months now) doesn't assert causality... it simply states facts. I'm not going to assert that this is all the fault of the demoncrats, but it's certainly not the fault of Bush either. If you want to blame the politicians, there's plenty of blame to go around... and i'd start with the ones who want to raise your taxes.
Dave, you hit the nail on the head. From all of the reading I have done I have come to the same answers. Speculation is one of the reasons for high oil prices among the other factors you mentioned.
Oil is a global market, even if the reserves are tapped into the market value will stay nearly the same. We do not have a supply problem, not yet anyway.
Oil is a global market, even if the reserves are tapped into the market value will stay nearly the same. We do not have a supply problem, not yet anyway.
This might be strategic.
If the middle east's oil supply gets depleted before ours does, who would become their "daddy"? We would. The terrorists would run out of money, along with terrorist countries like Iran, Syria, etc. We would never have to send troops there ever again.
LeoC2
Registered
Dave you hit it right on the head, those are the facts. I'm always amazed when people think the government can control such things, even the US oil companies can't contol those prices. The oil companies are either losing billions one day or making them the next, it all evens out However, we can exercise some degree of control by planning to be more self sufficient. If we could drill more off the west coast, and especially in the Gulf of Mexico we could, in theory, become the world's largest oil exporter AGAIN. While supply and demand may not be the whole story if we began to buy less from the Middle East I can guarantee you prices will drop.