Tuesday, April 15, 2008
Why Is The Price of Oil So Ridiculous?
Oil prices went loco today because of broken pipelines, bad weather, weak dollaz, and stubborn Saudis.
A new all-time high for oil prices was reached this afternoon on the New York Mercantile Exchange. At $113.93 a barrel, this caused the national average for a gallon of gasoline to become $3.39.
The price jumps are due to the construction of oil pipelines in both Nigeria and the Caspian region being interrupted, along with a halt on Mexican exports in the Gulf Coast because of stormy conditions. Don't these guys know American soccer moms need to drive their kids to practice? Seriously, guys, get back to work.
Prices on oil have risen 18% since the beginning of the year, and it's not even summer yet. As the weather gets warmer and hot chicks start driving cars fast with the top down, the demand for oil, and thus the prices for it, will increase.
Even our own disappointing value of the dollar is sabotaging oil prices. As the dollar declines against the euro, many foreign investors keep betting against it, causing it to fall more. Can't a brotha catch a break?
There is a feeling that a couple of very influential men in the Middle East could do us a major 'solid' by releasing some reserves all over this place. But, that remains to be seen:
On Saturday, Saudi Arabia’s King Abdullah also suggested that new oil discoveries in the kingdom would remain untapped to preserve the nation’s wealth for future generations, according to various wire reports. “Let them remain in the ground for our children and grandchildren who need them,†the king said in a speech, according the official Saudi Press Agency.
This guy is going to feel really dumb when he sees us all using oil-less flying cars and hydrogen jetpacks by then. We will be, right?
New York Times: Oil Prices Surge to a New High, April 15, 2008
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Comments
i doubt that the gradual increase in
i doubt that the gradual increase in demand throughout the world should be causing such sharp increase in price
$3.39 for a gallon - the stuff of
$3.39 for a gallon - the stuff of dreams ... see The Times article as at Wed. 16 April ... £5 gallon looms as oil breaks new records ... yes, we in the UK are staring at $10 for a gallon in the next 1 to 2 months!
Relative incomes and so on - but let me tell you, as you may guess - this hurts!
Current cost to fill my car up - just shy of £70 - so $135 to $140
Our govt. have insane taxation policy on fuel, which has crept up and up in the last 15 years. Acceptable 15 years ago - but not now.
And guess what - for the privilege of driving into central London Monday to Friday, we get charged between £8 and £25 per DAY. Isn't that nice. Thankfully, for me, I don't have to ... but this effects tens of thousands of people per day.
Just a thought. High gas prices =
Just a thought. High gas prices = liquid assets and funding for the people behind the current administration to ensure control over the source of oil as well as the suppression of new technologies that would remove the demand for their product. I don't think it takes a brain surgeon to figure out that everyone from the oil families of the middle east to the oil families of the US wins in this situation. Only the inconsequential loose - that's you and me.
You people need to wake up, Bin laden
You people need to wake up, Bin laden attack the USA and OPEC is bleeding the US economy. Every penny gas goes up it takes a billion dollars out of our economy. I believe the majority of Opec nation are not our Allies, It takes alot of Oil to fight a War. True Allies support there friends, no matter what.
There are three types of Terrorist - Religist, political, and economic.
Bin laden = Religist Iraq = Political OPEC = Economic
War has have no rules, Just idiots how think there should be rules.
The US never won a war soldier against soldier, Germany & Japan we bomb the population to win, Vietnam & Korea we tried fighting soldier against soldier
and have come up short.
In this WAR the battle field has come home.
The blood of our soldiers is RED, and the blood of our people is green. The blood of these terrorist is Black, and I'm driving the hell out of them.