oil jumped $10 today

[Eagler]

Check out grocery prices come Labor Day.

looking at the size of the average lard arse these days, that might not be a total bad thing

[Nilsen]

looking at the size of the average lard arse these days, that might not be a total bad thing

Sad thing is that even with rising food prices, its always the junkfood thats cheapest

[lazs2]

freeways are less crowded.. no stop and go... they were talking of toll roads.. this works as well for me.

We will see something done at some point.. we will have to have nukes and drill for the oil we have.. people will stomp the greenies to death to get to the oil.

new tech will come out.. a new gold rush to get to better turbo diesels and electric cars.. better solar for all is around the corner....

It all seems like a win win to me.   I have a good feeling about the way it will all turn out... 20 years from now we will be living better than we are now.. unless we elect too many socialist who will drag their feet and stop progress and go down a bunch of blind paths and build a bigger and clumsier and more intrusive government.

It is gonna work out.. we are one breakthrough or a bunch of little ones away from a solution.

Unless of course.. you are just one of those types who loves doom and gloom.

One thing.. I bet no one is gonna want a dollar or two a gallon tax on gas to save the planet from "man made global warming" scam.

It all seems win win to me.

lazs

[ghi]

 
Israel-Iran Tension Causing Oil Price Surge,   2 Israeli officials threatened Iran in last 24 hours:

   “If Iran continues with its programme for developing nuclear weapons, we will attack it. The sanctions are ineffective,”Israeli Transport Minister Shaul Mofaz told the Israeli newspaper

http://www.businessandmedia.org/articles/2008/20080606112914.aspx



"We must tell them: If you so much as dream of attacking Israel, before you even finish dreaming there won't be an Iran anymore,"   Israeli infrastructure minister Benjamin Ben-Eliezer

http://www.presstv.ir/detail.aspx?id=59102&sectionid=351020104

[E25280]

Yet mobile makes 40 billion. Gas prices are high becuse of lack of refineries. What's a refinery cost? Mobile can make at least ten and still have enough to give their execs bonuses.

And how many refineries are they able to build with all the Nimbys and Environmentalists suing them any time they try?

http://www.nwi.com/articles/2008/05/19/updates/breaking_news/doc4831a2833256c615344521.txt

This is just one example -- you can find many more on in internet if you search for them.  Any and every time a refinery tries to expand, a lawsuit is filed, and construction is delayed.  This has been going on for years, and in more places than just Whiting.  Oil companies are perfectly willing to spend their profits on captial improvements to increase capacity, but they are not allowed to do so.

And yet the uninformed continue to blame the oil companies for the fact that refining capacity has not grown to meet demand.  Truly sad.

[Fulmar]

I'm gonna start digging holes in my back yard.  What would old Jed be worth today?

[Nashwan]

Yet mobile makes 40 billion. Gas prices are high becuse of lack of refineries.

No, it's high because of crude oil prices. In fact, refineries have been running well below capacity for a while, and the refining costs have fallen pretty far, to about 35c a gallon.

Just buying the oil to make a gallon of gasoline costs about $3 at the moment. State and federal governments take an average 47c in taxes, and the rest is split between the retailers and distributors.

Any and every time a refinery tries to expand, a lawsuit is filed, and construction is delayed.  This has been going on for years, and in more places than just Whiting.  Oil companies are perfectly willing to spend their profits on captial improvements to increase capacity, but they are not allowed to do so.

Oil companies have been spending money on increasing capacity. US refinery capacity has risen from 16.3 million barrels a day in January 2000 to 17.6 million barrels a day at the end of May this year.

The US also imports about 10% of its gasoline, mostly from Europe, which produces a gasoline surplus thanks to its reliance on diesel.

[1Boner]

I sell woodstoves and pellet stoves for a living.

Been doing it since bout 1985.

I have NEVER seen such a surge in sales of these products.

The factorys are having a hard time keeping up with all the orders.

And its June for cripes sake!!

Most people here in New Hampshire are paying 4.50 a gallon for heating oil.

I can't imagine what the price will be this winter.




Boner

[DREDIOCK]

No, it's high because of crude oil prices. In fact, refineries have been running well below capacity for a while, and the refining costs have fallen pretty far, to about 35c a gallon.

Just buying the oil to make a gallon of gasoline costs about $3 at the moment. State and federal governments take an average 47c in taxes, and the rest is split between the retailers and distributors.

Oil companies have been spending money on increasing capacity. US refinery capacity has risen from 16.3 million barrels a day in January 2000 to 17.6 million barrels a day at the end of May this year.

The US also imports about 10% of its gasoline, mostly from Europe, which produces a gasoline surplus thanks to its reliance on diesel.

Was watching a program the other night
At $130 a barrel. Roughly about a 3rd of a barrel of oil is from speculators.
Its estimated that if the speculators were put under the same kind of regulatory controls they had for some 60 years untill (I think)around 2000
the price of oil would drop by about 20%

Another large chunk is due to the weak dollar

[Holden McGroin]

Roughly about a 3rd of a barrel of oil is from speculators.

Where do speculators have there drill rigs?

[Holden McGroin]

Don't worry about the price of oil,

Democrats have a plan to lower gas prices…join Democrats who are working to lower gas prices now. – Nancy Pelosi (D-CA), Press Release, April 19, 2006

[Nilsen]

Another large chunk is due to the weak dollar

A very important factor that many forget

[JB88]

time to stop buying oil.

let china waste their time with that.

it's well on it's way to becoming completely cost prohibitive.

but then, lets not forget that we are willing to pay the higher prices to keep other competitors out of the market.

we can conceivably buy tons at a bargain rate compared to what it will be when we tap into our own supply.

that said...some day gasoline petroleum power will go the way of the steam engine.

invention is what western culture is best at.

time to get to it.

good luck.

(steps off box)

[Holden McGroin]

that said...some day gasoline petroleum power will go the way of the steam engine.

Coal and Nuke power stations are steam engines.  My plant (Nat Gas) is 2/3 jet engine and 1/3 steam engine to make electricity.

More than half the energy we (USA) consume as a nation is used to produce steam to power steam engines to rotate generators to feed the grid electricity.

[Holden McGroin]

That being said, what we need to do is extend favrable tax and siting regulations to wind farms, copy the  German policy to enhance the residential solar installations, build 100+ new 1000 MW nuclear stations, get coal to liquid plants built in Appalachia and Wyoming, get oil shale going, drill in ANWR and North Dakota...

We need all these and more to solve the problem and government provided hurdles instead of government provided enducements is the real problem.