Why do you think oil prices are high?

[Ripsnort]

Do you believe what Wallstreet analysts say:

World oil demand is growing at its fastest pace in 16 years. U.S., European and Japanese economies are finally growing again and China is sucking in oil -- imports are 20 percent higher than a year ago -- to power its manufacturing and to make gas for its booming car market. The world consumed 79 million barrels of oil a day in the second quarter. Forecasts call for that to rise to 82.5 million in the fourth quarter.

Or are you a believer that Bush is in the pockets of Big Oil companies?

[ASTAC]

add to that the OPEC is not increasing volume on purpose just to hurt us.

[AKS\/\/ulfe]

I thought OPEC decreased volume on purpose?
-SW

[ASTAC]

Originally posted by AKS\/\/ulfe
I thought OPEC decreased volume on purpose?
-SW

Isn't that what I said?

[AKS\/\/ulfe]

You said intentionally not increasing, as opposed to them actually declining in output capacity intentionally.
-SW

[Swager]

He is in the pockets!

[Mickey1992]

"Why do you think oil prices are high?"

China, and the fact that all of the "easy" oil has already been sucked out of the ground.  Forbes magazine had a good article about non-Persian Gulf oil exploration last month.

[Captain Virgil Hilts]

Oil prices are high because there are hundreds of little suit wearing pansies in cubicles playing games with futures. It really is that simple. They are driving prices up by simply buying and selling futures, and speculating. There is no less oil flowing now than there was 9 months ago. Not only that, the demand has not gone up nearly so much as they'd have you think. They're doing the same thing as those idiot day traders did a few years ago. Then the bubble burst.

[SOB]

I believe oil prices are high because our secret alien overlords have demanded it so.

[Heretic]

All I know is that I'm paying $2.00 a gallon and its costing me around $45 to fill my tank on my Dodge Ram.    Drive 38 miles round trip each day to work and the tank is gone before I know it.     I bought the truck when new in 99 and it was a brnad new 2000 model.    Gas prices weren't high then like they are now.

[sling322]

Our oil production is down also due to all the hurricane activity in the Gulf of Mexico this year.  My company is moving a lot of oilfield equipment here lately due to the efforts to get all the rigs back on line.  I dont know the exact numbers but I know a lot of the offshore rigs in the Gulf are operating in a decreased capacity due to all the hurricane action this year.  There were some of our customers telling us stories at the airport the other night about pieces of equipment that weigh over 100000# being shifted and moved on the ocean floor during those storms.

[TweetyBird]

You need to sell the Dodge ram

[Saurdaukar]

Originally posted by SOB
I believe oil prices are high because our secret alien overlords have demanded it so.

So much for the non-disclosure agreement.  

Ass.

[TweetyBird]

Well oil production in the Gulf of Mexico isn't even profitable unless the price of oil is high (as it is now). At about 1.5 million barrels per day it produces less oil than Venezuela (about 2-2.5million) and is hardly a blip on opec's 30 million barrels per day.
I doubt seriously that production problems in the gulf are responsible for any price increase.

I think there's little doubt the high price is because of higher world demand, and the bad news is its only gonna get worse.

[Otto]

We could have Nuclear Power automobiles but the oil companies keep buying all the patents.  It's a fact..