Yikes.......$104 a Barrel !!!!!

I wonder at what price point we have to reach before we start drilling for oil. Between florida, california, colorado, alaska, bakken, there must be 3 trillion barrels of oil right in our back yards.

Something tells me that China will begin drilling in the US before we will:smt013
 
One thing I don't understand is with such a lengthy history of the Bush family being in power, why is US Oil exploration, drilling and refining not farther ahead? They are a big oil family. Maybe they are too busy with politics to server the American people. Who knows, once they are out of the White House, maybe some of this home brew crude will start making it's way into our fuel pumps.

We could only hope.
 
One thing I don't understand is with such a lengthy history of the Bush family being in power, why is US Oil exploration, drilling and refining not farther ahead? They are a big oil family. Maybe they are too busy with politics to server the American people. Who knows, once they are out of the White House, maybe some of this home brew crude will start making it's way into our fuel pumps.

We could only hope.

Seems that the regulations making it almost impossible to build new refineries was put in place decades ago, and the Left-wing special intrest environmental wacko's will fight any new exploration or drilling on behalf of the smallest micro-organism that might be offended by it. But let's keep blaming Bush, that's an easy one
 
Seems that the regulations making it almost impossible to build new refineries was put in place decades ago, and the Left-wing special intrest environmental wacko's will fight any new exploration or drilling on behalf of the smallest micro-organism that might be offended by it. But let's keep blaming Bush, that's an easy one

Well. . .there may be no *NEW* refineries, but I can tell you the existing ones are expanding like crazy.

While the number of refineries may be stagnant, the amount of gasoline being produced is GROWING. When was the last time you had a problem buying as much gasoline as you wanted?

- - - - - - -

Yeah, "we" put a pair of oil men into the White House. . .and you didn't expect the price of gasoline to triple? hahahahahah. Suckers. Actually. . .I am filing taxes today. I think I have the biggest sucker sign on the planet affixed to my forehead.
 
I went to the local Fresh Market about a week ago to pick up some stuff for dinner... they had fresh corn on the cob and, get this..., it was "Two ears for $6". The point on "price fixes price" is that last night they had a sale going on with "12 ears for $1" as NO ONE bought it at 2 ears for $6 and it was going bad... Corn costs are ridiculous, due to the damn ethenol problem, but no will buy this stuff at these prices. When diesel/gas is $8/gallon, no one will drive and the speculators will lose their shirts.
 
What Gary said. But no one should have bought the 12 for a dollar corn either. Fresh corn has an amazingly short shelf life because the sugars break down quickly. What tastes good one day is cattle fodder two or three days later. And it would have served as a lesson, too. :) Don't buy when it's overpriced and don't buy garbage even when it's cheap.

There are a lot of funds that have been moved from the stock market to the commodities market. These guys keep watching the price of oil going up, and they want a piece of that action, so they buy in and watch the price go up some more. But is that price justified by demand? Analysts don't think so. As refineries use up their current contracted deliveries of crude, they'll have to buy more. As the price of fuel increases, demand decreases, also as the economy cools, so does demand. So when the refineries don't buy as much as high priced crude, who will? When there are a bunch of sellers and not so many buyers, any guesses about the price? The speculators will lose their shirts, again.

Who has heard in the news that oil hit another record price? Probably everyone. That news is everywhere. Who has heard in the news about oil discoveries in Bakken, off-shore, etc? Probably only a few, that news doesn't seem to be reported. Why do you think that's the case?

I'm guessing that the first thing a president Billory or Osama will do is to make the Bakken Formation a national park to preserve the "pristine environment" "for the children."

Best regards,
Frank C
 
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Hybrid Super Sweet corn will not loose it sugar content like regular sweet corn does. I have grown both kinds over the years when I owned my farm. So it may have been a bargain if it was Super Sweet and it may have been good for nothing if it was the regular stuff.

As to the price of oil, yes the market will eventually correct itself. But most of the world has been paying a heavy price for the greed game that has been going on in the oil market at all levels. Couple that with the stupid decision by our elected officials to require ethanol blends in US gasolines, and you indeed have created a mess that affects people's lives very very deeply. On the world front, Food Riots are being attributed to the oil situation as well........check out all the news stories on this. http://news.google.com/news?hl=en&tab=wn&ned=us&q=food+riots&btnG=Search+News

:smt009:smt009:smt009:smt009
 
Paid 3.74 a gallon including a 15c disconnect for diesel on Friday in Middle River.
 
Be realistic, Dave. Better to divert food to fuel than to drill in the Arctic, offshore, and elsewhere. The greenies say that the world is over-populated. So mass starvation fits with their scenario and final solution.

Best regards,
Frank C.
 
All I know is the Gov makes the biggest cut at the pump, why would they want things to change?
 
Price does fix price. . .but not in the ways you expect.

Do I drive less? No. I *must* go to work. So do most people. Gas prices are not going to go down because people aren't driving.

But anything that gets shipped now costs more. Food prices are going up. Not just corn, but also Oranges and milk. So I guess high gas prices doesn't mean that I drive less. . .but it may mean I eat less.

Between high energy prices. . .and treasonous fiscal policy. . . what we are really seeing is inflation across the board. It seems like *everything* is getting more expensive, and getting expensive quick. Every time I shop, it seems like I experience sticker shock. So my driving may be the same. . . .but my consumption of consumer goods will probably trend down.

- - - - - - -

I wonder how the fuel costs will impact vehicle sales? I imagine SUV sales must be plummetting. I will soon be in the market for a car, and I personally can't fathom buying a SUV at this point, or any car that requires anything but 87 gas.
 
Be realistic, Dave. Better to divert food to fuel than to drill in the Arctic, offshore, and elsewhere. The greenies say that the world is over-populated. So mass starvation fits with their scenario and final solution.

Best regards,
Frank C.

Frank

I know you are being sarcastic Frank but the (unfortunate) outcome may be exactly as you describe.

All I know is when you start disecting everything that is going on today and what could potentially happen in the future, it is very disheartening. And most elected officials in this country (and others) sit there and either do nothing because they are too stupid to understand the big picture or they make the situation even worse with their inept policies (or lack of policies) and bad decisions.
 
It's not just the pols and officials who are stupid and inept. It's the people who put them in office who are to blame. As I stated before, how many people know we have enough oil on U.S. territory to make a serious cut in imports? How many people know the real benefit/risk ratio of third generation nuclear power, or even just nuclear power in general? How many understand the commodities market? How can the ignorant select a manager for something that neither understands?

Everyone knows voting is a right. Hardly anyone knows that along with the right goes the responsibility to make the right decision based on general welfare. And making that decision means looking at more than the ads on tv, opinion crap in the newspaper, and feel good solutions. Why do we always hear "I feel..." rather than "I know..."

The good part is that the union can withstand inept management. The negative of it is that it could be so much better. The crime is that some will pay dearly for these levels of ineptitude.

Best regards,
Frank

P.S. I didn't pick the last two word of the post you quoted, Dave, randomly.
 
I just had to bring this thread back from the dead... especially with oil now at $35/bbl and gas at $1.30....

Reality check:

Even if oil were drilled out of the arctic, the oil companies would not sell it to America at a discount because they could get more money from other nations. So, that's not going to bring down the prices. Do you really think they are going to sell it to us cheaply for nationalistic pride?

Guess what. We're not going to see $2.00 a gallon gas ever again. Anyone who remembers $1.00 a gallon are becoming the silly old men the kids laugh at when you repeatedly tell the story about $1.00/gallon gas. Stop hoping that the price is going to come down enough to make a difference.

Gas is $4.00 a gallon at the marina. If it goes to $5.00 a gallon that is a 25% increase, not a 100% increase. When gas was $3.00 and it went to $4.00 that was a more painful increase percentage wise.

Go boating and don't let it stop you.
 
With oil going down, I can't understand why gas has been going up in GA for the last couple weeks. We were down below $1.40 and now we are back up around $1.75???
 
With oil going down, I can't understand why gas has been going up in GA for the last couple weeks. We were down below $1.40 and now we are back up around $1.75???

Oil was trading in the 30's and then it went back up to the mid 40's.. Its back below 40 again..

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