Crude oil, where are we going?

Ill start complaining when its bothering me. Right now its nothing. Ya I must be rich. I dont care. Eventually enough will care then it will matter. Right now this is nothing :) I dont think it really matters to you Newguy financially. I think you are just looking for something to cry about :)
 
Notmuchlonger said:
Ill start complaining when its bothering me. Right now its nothing. Ya I must be rich. I dont care. Eventually enough will care then it will matter. Right now this is nothing :) I dont think it really matters to you Newguy financially. I think you are just looking for something to cry about :)
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I will agree with you here.

But I still scratch my head and wonder how the economy can move forward with such high energy prices that keep rising.
 
newguy888 said:
I will agree with you here.

But I still scratch my head and wonder how the economy can move forward with such high energy prices that keep rising.
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It will happen eventually. 140 150 160 more? I dont know. Eventually it will matter. Right now eh. The good Amerikan folks can absorb it A ok.
 
all i know is we all condemn big oil for their profits but then i thought who owns big oil....YIKES! WE DO.

at last look as an example almost 4,000 mutual funds owned exxon mobile. fidelity owns 90 billion in just that one issue. guess we are getting those profits after all.

WE HAVE MET THE ENEMY AND HE IS US
 
Can we blame big oil? How about increasing world demand including no significant evidence of conservation in the US? How about the declining dollar? From what I've seen, we pay a lot more in Federal, State and other taxes/fees per gallon than oil company profits by far. Lots of big companies in other industries make far higher % profits than big oil - Microsoft, Bank of America and many others. In the 80's oil company profits were too low to justify building more refineries, so much so that we've barely had enough refinery capacity. Seems there's lots of blame to go around.
 
newguy888 said:
Oil nears $123 on $200 oil prediction, supply concerns: Financial News - Yahoo! Finance

Woof Woof big dog looks like 150+ a barrel. 7 to 10 dollar gasoline in a few years. Geesh gonna need to keep working a bit.
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Well, oil prices are moving along as predicted...........

newguy, you should read more, pay attention to what is happening around you..... All natural resources are becoming scarce in relationship to the ever growing number of souls that must be supported. Energy, food, metals, lumber...... all will be going through the roof. And, oh yeah, don't forget about water......

We're probably too old to live long enough to see it, but just a few more decades, another doubling of the population, and the poop will really hit the fan.

If you're mystified by the rising price of oil, just wait! ;)
 
I can't wait until the bird flu comes and wipes us all out! That'll fix that oil problem real good.
 
Not everyone shares Goldman's view. Tim Evans, an analyst at Citigroup Inc., countered Goldman's analysis with a note predicting that crude prices could as easily fall to $40 a barrel as rise to $200 over the next two years because supplies are, as Evans put it, comfortable.
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& up through the ground came a bubbling crude.
 
Midpack said:
Can we blame big oil? How about increasing world demand including no significant evidence of conservation in the US? How about the declining dollar? From what I've seen, we pay a lot more in Federal, State and other taxes/fees per gallon than oil company profits by far. Lots of big companies in other industries make far higher % profits than big oil - Microsoft, Bank of America and many others. In the 80's oil company profits were too low to justify building more refineries, so much so that we've barely had enough refinery capacity. Seems there's lots of blame to go around.
Click to expand...


Ahh, finally someone understands! I work in big oil and have been explaining this to friends for the last 3 years.

You want someone else to blame, imo, put more onto the door of the government. They banned MTBE at the same time they lowered gasoline sulfur specs to 30ppm, all before the refineries were ready. And to top it off, they never removed the 2% oxygenate requirements! The result: We are now starved for octane in addition to a pool of gasoline that can't meet sulfur requirements without a huge investment in refining.
 
Midpack said:
Can we blame big oil? How about increasing world demand including no significant evidence of conservation in the US? How about the declining dollar? From what I've seen, we pay a lot more in Federal, State and other taxes/fees per gallon than oil company profits by far. Lots of big companies in other industries make far higher % profits than big oil - Microsoft, Bank of America and many others. In the 80's oil company profits were too low to justify building more refineries, so much so that we've barely had enough refinery capacity. Seems there's lots of blame to go around.
Click to expand...

I was thinking the same about the declining dollar....

On a 'wild a$$ guess'... the dollar has gone down by about 50%.... SO, in reality we have only $60 oil and $60 of 'the chickens have come home to roost with all the deficiet spending we do'....

If we go our house in order... oil would come down as the dollar got stronger... nope... $200 oil is better... :rolleyes:
 
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