Reply With QuoteF'kn Bush. Bet all that money is going right into his pocket too!!! Bastard.:notam:
Crude-oil prices spiked more than $1.50 and closed at a record high above $75 a barrel Friday amid concern about IranÂ’s nuclear ambitions and declining U.S. gasoline stocks.
U.S. pump prices also kept rising, with the average price of a gallon of unleaded regular gasoline at $2.855, up 3 cents from a day earlier and more than 60 cents higher than a year ago, according to AAAÂ’s daily fuel gauge report.
Analysts say oil prices are likely to climb higher in the weeks ahead as worries grow about how international pressure on Iran, OPECÂ’s No. 2 oil producer, will affect its crude output. Rebel disruptions of oil production in Nigeria also pose a risk to world supplies.
F'kn Bush. Bet all that money is going right into his pocket too!!! Bastard.
F'kn Bush. Bet all that money is going right into his pocket too!!! Bastard.
Prolly not, but I'm sure he doesn't give a rats ass.
A record week for the Dow............must be Bushes falt, again! :crossx:
Prolly not, but I'm sure he doesn't give a rats ass.
Have you seen what rats asses are going for? They hit a record high today as well. There is no way Bush is giving away rats ass...I am sure he is asking market value.
It's been a long run. A sell of for profit should happen real soon. Back to around $70 then the relentless climb to $80 starts over.
"What people need to hear loud and clear is that we're running out of energy in America."
—George W. Bush, May 2001
With Nigeria, Sudan, Venezuela and not to mention Iran all teetering with very large issues that could halt or significantly cut supply it may come down to pure availability regardless of price. Look at the east coast today just trying to cut over from MTBE. "out of gas".
I'm thinking the boat and truck trader will be about the size of the LA phone book.
US's take on oil reminds me of that book "Who moved my Cheese". A good read.
I saw two interesting statistics today.
1) between 2002 and present, Chinas demand for crude oil went up 40% (holy shiat) Seems we have some competition. During the same period a barrel of crude went from $30 to $60-70.
2) The U.S. imports more than 60% of its oil. This makes us dependant on OPEC countries like Iran, Iraq, Saudi Arabia and Venezuela (who hate us)
as you know, OPEC establishes (arbitrarily) the level of output (and thereby the price) If they DO NOT increase their output (supply) to meet the increase in world demand then the price will go up.
The high price is mostly a result of OPEC withholding supply. I don't give a rats ass what they say following their (OPEC) meetings.
The high price is mostly a result of OPEC withholding supply. I don't give a rats ass what they say following their (OPEC) meetings.
I don't think that's really the cause. While OPEC does have control over the price of oil and the supply, most of our oil is from domestic supplies. Furthermore, the price of gas is mostly a function of the refineries (the ones that the big oil companies have open - they shut them down routinely to "do maintenance") capacity and the commodities brokers who bid the future price of oil up (in Chicago). Whenever the commodity price goes up the oil companies raise their prices simply BECAUSE THEY CAN.
The oil companies control the supply and therefore the price of gas at the pump. Sure, market conditions do affect the prices but it's mostly determined by the big oil companies and their CEO's (like the one at ExxonMobil who just got a $400 million severance package).
I saw two interesting statistics today.
1) between 2002 and present, Chinas demand for crude oil went up 40% (holy shiat) Seems we have some competition. During the same period a barrel of crude went from $30 to $60-70.
2) The U.S. imports more than 60% of its oil. This makes us dependant on OPEC countries like Iran, Iraq, Saudi Arabia and Venezuela (who hate us)
as you know, OPEC establishes (arbitrarily) the level of output (and thereby the price) If they DO NOT increase their output (supply) to meet the increase in world demand then the price will go up.
The high price is mostly a result of OPEC withholding supply. I don't give a rats ass what they say following their (OPEC) meetings.
100% correct.
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