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Energy execs: Crude prices likely to climb much higher
05-13-2011, 05:35 AM #1
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
Time to get a new bicycle, wore my old one out...

http://fuelfix.com/blog/2011/05/12/crude...rgy-execs/
05-13-2011, 10:11 AM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,580 Threads:1,443 Joined:Feb 2011
These prices really shot the dream of globalization in the groin. Eat your hart out Soros, your dreams were killed by your own short term greed. rofl.gif

wonder.gif
05-13-2011, 02:34 PM #3
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
chuckle.gif had the oil changed in my truck, shop I take it to asked what tire pressure I wanted in my 07 GMC Pick up truck. Told them 50 lbs and they all just looked at me. Tires rated up to 80 lbs. Told em if the truck handles squirrely in the rain I'd drop it down a few pounds...lol.gif
05-13-2011, 02:42 PM #4
Kreeper Griobhtha
Posts:10,849 Threads:655 Joined:Feb 2011
50 pounds? Why so high? You gonna be carrying a load?

I would be surprised if they go a lot higher. If they do, it will be very temporary. They already know people quit driving when it gets much higher than it is now. If people aren't driving, they aren't making money.

On the other hand, they could raise the price of gas high enough that many people quit driving but they are still making the same profits off of the few that are driving. Then the oil will last much longer. That is, if peak oil is real.

.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
05-13-2011, 02:46 PM #5
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
Do you get better mileage with higher pressure?

Fuel went up 6 cents a litre here yesterday. Sure glad I drive a little 4-banger
05-13-2011, 02:59 PM #6
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
(05-13-2011, 02:42 PM)Kreeper Wrote:  50 pounds? Why so high? You gonna be carrying a load?

I would be surprised if they go a lot higher. If they do, it will be very temporary. They already know people quit driving when it gets much higher than it is now. If people aren't driving, they aren't making money.

On the other hand, they could raise the price of gas high enough that many people quit driving but they are still making the same profits off of the few that are driving. Then the oil will last much longer. That is, if peak oil is real.

.

higher the tire pressure the less resistance but will cause the tire to wear out in the center so it's a temporary quick fix. Kinda like my Aggie front end alignment. Vehicle pulls to the left then let pressure out of the right lol.gif. Enough out and vehicle won't pull to the left any more but is hell on your tires...beercheer.gif

Peak Oil? 1st you have to determine the actual definition of Peak Oil which many people have it wrong in the 1st place...

05-13-2011, 03:05 PM #7
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
"Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline"

http://en.wikipedia.org/wiki/Peak_oil

They key here is the word GLOBAL where many confuse that with Domestic . Here in the US, hell yes as the price to explore and produce was getting too high so we started drilling and purchasing overseas. Hence the dependance on Foreign Oil.

Globally we are producing or extracting more oil but we have to go further overseas into 3rd world nations, drill deeper and into harsher environments. Hence the BP Macondo blowout in the deep Gulf.

Make sense ??

coffeetime.gif
05-13-2011, 03:14 PM #8
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
(Crude) Oil is a global commodity. how it's supposed to work is the Global markets set the price and the Producers accept that price whether high or low.

However the US Government is attempting to take away tax incentives to the oil companies as "they are making too much money" and Big Oil is saying "why are we being penalized for doing our job well?"

In a way I agree with them.

And just to re-iterate I am not Pro Big Oil... But some times you need the bastards...
05-13-2011, 04:27 PM #9
Kreeper Griobhtha
Posts:10,849 Threads:655 Joined:Feb 2011
That can be seen two ways: "Why are we being penalized?" or "You are profiting $6-12 billion every three months. Why do you need a $3 billion tax incentive? Can't you survive on $3-9 billino every three months? How much profit is enough?" Let's face it, if things don't start changing in our economy, their product is not gonna be in very high demand. Who is gonna buy it? That $3 billion could be put to good use right now.

That's not to say it WOULD be put to good use.

And I'll admit it. If I had the money, I would definitely invest in oil stocks or futures.


.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
05-13-2011, 04:50 PM #10
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
(05-13-2011, 04:27 PM)Kreeper Wrote:  That can be seen two ways: "Why are we being penalized?" or "You are profiting $6-12 billion every three months. Why do you need a $3 billion tax incentive? Can't you survive on $3-9 billino every three months? How much profit is enough?" Let's face it, if things don't start changing in our economy, their product is not gonna be in very high demand. Who is gonna buy it? That $3 billion could be put to good use right now.

That's not to say it WOULD be put to good use.

And I'll admit it. If I had the money, I would definitely invest in oil stocks or futures.


.

True---but another way to think about it is The Federal Government's profits/gallon of gasoline is approximately 300% higher than the oil companies...
05-13-2011, 04:58 PM #11
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
(05-13-2011, 04:50 PM)Tacolover II Wrote:  True---but another way to think about it is The Federal Government's profits/gallon of gasoline is approximately 300% higher than the oil companies...

A sobering thought. That's US stats too, where the fuel is cheaper than in any other developed nation, consider Europe, they certainly don't pay twice the market price for crude yet the gasoline is double. Because of taxes. dunno.gif
05-13-2011, 05:19 PM #12
Kreeper Griobhtha
Posts:10,849 Threads:655 Joined:Feb 2011
They tax the piss out of us and then give it to big oil in the form of a $3 billion incentive. Or... They give big oil a 43 billion tax incentive and then get their money back from us. Either way, that is $3 billion more profit for big oil in the form of less overhead and $3 billion more we have to make up through taxes.

Basically, we are getting screwed by both sides.


It doesn't really matter though. Even if the oil companies started paying the $3billion, out shït government would just blow it like they do the other several trillion. Might as well let the oil companies keep getting the incentive and invest in their companies. It's the only way we will ever see any of that money.

.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
05-13-2011, 05:26 PM #13
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
iagree.gif

It's a lovely morning here and I'm going to go outside and crank the music up hug.gif
05-13-2011, 10:52 PM #14
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
Understand how you feel Kreeper, fact of the matter is those huge profits are mostly not from gasoline/fuel sales, most are from the global Chemical Divisions and synthetics. That's a fact-Jack...(Stripes movie quote again) Not trying to be a ass

Sure look at every vehicle on the road powerd by gasoline and every big truck powered by diesel and all the jets, helicopters with jet turbines powered by jet fuel and think how much fuel that is 24/7/365

My comment is these companies pay huge taxes and employ thousands and thousands of people. Tax advantages are given to many mega companies, what else we gonna do ? chase all E & P out of the country to get better incentives elsewhere then be at the mercy even more to Foreign Oil?

I dunno, I'm just a little guy/contractor that gets the oil from underground to the tank or pipeline above ground. Do some completion work and some consulting/project management on materials and equipment.

Do a little sideline projects on the side chuckle.gif Not to sound redundant but that's the way the pickle squirts lol.gif

And it aint my fault...gaah.gifgaah.gif
05-14-2011, 02:03 AM #15
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,580 Threads:1,443 Joined:Feb 2011
(05-13-2011, 10:52 PM)Tacolover II Wrote:  that's the way the pickle squirts lol.gif

İmage lol.gif 13.gif

wonder.gif



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