$70. No, that's not a "date night"

[RandomGuy]

$70 barrel of oil just in case you missed it... (http://today.reuters.com/news/articlenews.aspx?type=newsOne&storyid=2006-04-18T011539Z_01_SP70089_RTRUKOC_0_US-MARKETS-OIL.xml)


NEW YORK (Reuters) - U.S. crude oil prices neared a record above $70 a barrel on Monday as Iran's pursuit of its nuclear program heightened fears the United States might take military action against the oil-producing nation.

U.S. light sweet crude settled up $1.08 to $70.40 a barrel, the highest settlement since the contract began trading in 1983, but still below the intraday high of $70.85 hit last August after Hurricane Katrina battered oil infrastructure along the U.S. Gulf Coast.

London's Brent crude on Monday rose 89 cents to $71.46 after touching a new record high of $71.62.

"The continuing rhetoric out of Iran over the weekend helps to keep it supported and poised to go higher," said John Kilduff, senior vice-president, energy risk management group at Fimat USA in New York.

Former Iranian President Akbar Hashemi Rafsanjani said on Monday Iran would continue to pursue its nuclear program following its announcement last week it had enriched uranium for use in power stations.

"The Islamic Republic of Iran does not intend to stop," he told reporters in Kuwait during a visit to the Gulf state.

The West suspects the nation is trying to build an atomic bomb and talk of a U.S. attack has topped the international news agenda since a report in The New Yorker magazine this month said Washington was considering using tactical nuclear weapons to knock out Iran's subterranean nuclear sites.

Fear of possible disruption of supplies from Iran, the world's fourth-largest oil exporter, has helped drive the price of U.S. crude more than 20 percent higher since mid-February....

US will not do any military strike on Iran. Not even Bush is THAT obtuse. A military strike on Iran would push the price of crude far past historic highs.

[boutons_]

"A military strike on Iran would push the price of crude far past historic highs."

The Repug objective is to enrich the energy companies and the capitalists holding energy co stocks. They will stop at nothing. The bogus Iraq war proved the Repugs will tell any lie, waste any number of military lives, to enrich themselves and their paymasters.

dubya is letting Afghanistan slip away.
No oil there, but al-Quaida and Taliban, the real enemy, will set up shop there as soon as possible.

[Nbadan]

Yep, unfortunately Random Guy is assuming that they give a damn about the little guy. If that were true they would have done everything possible to increase the supply of crude coming out of Iraq, instead since the insurgency, Iraq's total output has gone down, maybe even stopped altogether. See, the whole idea behind the Iraq war was not to turn it into a massive gas station for U.S. consumers, but to do everything possible to keep Iraq's oil off the market to increase the world-wide ppb and help send oil company CEOs, like the Exxon CEO, into early retirement with fat parachutes. This also increases oil company revenue to record levels, and they are using this new-found cash to line the pockets of our Local, State, and Federal politicians to increase further their control over our pockets. It's one giant ponsi sceme and you and I are the pigeons.

[Aggie Hoopsfan]

The Repug objective is to enrich the energy companies and the capitalists holding energy co stocks. They will stop at nothing.

Then use your fucking brain for once and buy some oil stocks. Oh, and STFU.

[Nbadan]

Then use your fucking brain for once and buy some oil stocks. Oh, and STFU.

Neither a lender nor a borrower be.

[Ocotillo]

Then use your fucking brain for once and buy some oil stocks. Oh, and STFU.

You haven't enlisted yet? Some sort of hold up?

[xrayzebra]

Yep, unfortunately Random Guy is assuming that they give a damn about the little guy. If that were true they would have done everything possible to increase the supply of crude coming out of Iraq, instead since the insurgency, Iraq's total output has gone down, maybe even stopped altogether. See, the whole idea behind the Iraq war was not to turn it into a massive gas station for U.S. consumers, but to do everything possible to keep Iraq's oil off the market to increase the world-wide ppb and help send oil company CEOs, like the Exxon CEO, into early retirement with fat parachutes. This also increases oil company revenue to record levels, and they are using this new-found cash to line the pockets of our Local, State, and Federal politicians to increase further their control over our pockets. It's one giant ponsi sceme and you and I are the pigeons.

Who tried drilling in the forbidden oil fields? Damn sure wasn't the
dimm-o-craps. The saviours of Mother Earth, so they think. Tell me
more about the "little guy", little guy!

[RandomGuy]

Who tried drilling in the forbidden oil fields? Damn sure wasn't the
dimm-o-craps. The saviours of Mother Earth, so they think. Tell me
more about the "little guy", little guy!


Geez talk about blindly taking a talking point from the higher ups.

OK Xray, let's start drilling and get that oil.

Answer these two questions:

How much oil does the US use per day?

How much oil is in ANWAR?

I will keep asking them in every thread you post in until you answer those two questions.

[RandomGuy]

Bump.

Maybe I could get xray to answer those two questions...

[scott]

$78 is fast approaching... Israel must be long WTI

[xrayzebra]

Has anyone noticed, except me. Gasoline prices have not shot up in light of
the oil prices rising. As it did in the past? Strange.

[sickdsm]

Geez talk about blindly taking a talking point from the higher ups.

OK Xray, let's start drilling and get that oil.

Answer these two questions:

How much oil does the US use per day?

How much oil is in ANWAR?

I will keep asking them in every thread you post in until you answer those two questions.



Yes because past discussions have proved that you bitch about something not being a total replacement in one swoop (ethanol, biodiesel) instead of a gradual improvement.


Tell me? One day will we be all running gas cars and the next traveling via solar sail's?

[Yonivore]

Has anyone noticed, except me. Gasoline prices have not shot up in light of
the oil prices rising. As it did in the past? Strange.
I believe, if you ask scott, it's because reserves are up and there's not yet a crunch on supply.

[clambake]

here, up 12 cents today.

[Ya Vez]

yeah .. guess the US will learn how important energy supplies are to the US economy if this breaks out into a all out war..... won't we .. leftist...

[clambake]

leftist?

[scott]

Has anyone noticed, except me. Gasoline prices have not shot up in light of
the oil prices rising. As it did in the past? Strange.

Retail gas prices do not instantaniously respond to changes in the oil price. Typically, retail prices will lag behind wholesale (NYMEX) prices. That means as the price of oil goes up, retail margins get smaller, but when the price of oil goes down, the retail margins will typically be larger.

[Yonivore]

Retail gas prices do not instantaniously respond to changes in the oil price. Typically, retail prices will lag behind wholesale (NYMEX) prices. That means as the price of oil goes up, retail margins get smaller, but when the price of oil goes down, the retail margins will typically be larger.
Or, it could be that.

[RandomGuy]

Yes because past discussions have proved that you bitch about something not being a total replacement in one swoop (ethanol, biodiesel) instead of a gradual improvement.


Tell me? One day will we be all running gas cars and the next traveling via solar sail's?

???

Honestly, I am not entirely sure what you are getting at here. Please try to self-edit a bit for clarity. It may make sense when you are thinking it but there seems to be some disconnect when you type up your posts in terms of clarity.

I have not "bitched" about ethanol.

I have pointed out that ethanol is not a panacea as some seem to think.

I used simple math and data to point out the scope of the problem (energy needs verus ethanol's ability to meet those needs). I did point out that yes, ethanol will likely be a part of the future energy solution, but no it will not be THE solution.

Neither will ANWAR as some on the right seem to think. I think time and effort on ANWAR is wasting resources that could be better placed elsewhere, such as increasing energy efficiency, or developing renewables.

[RandomGuy]

I believe, if you ask scott, it's because reserves are up and there's not yet a crunch on supply.


Yup. Eventually though, the increases in raw materials will work through the system.

[boutons_]

dubya, dickhead, their buddies running the energy co's are loving every day of $78 oil.