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A brief on current oil prices


Precise1
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About the only thing they didn't go into was the how the falling dollar value contributes for the US. :shrug:

 

http://www.marketoracle.co.uk/Article4793.html

 

What do you all say to a reasonable discussion about the oil/gas cost situation? Lets ease up in attitude, and lean heavy on information?

How high will it go? Where will it stabilize? How will it change things? Whatcha gonna do?

 

B

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There are so many flow on effects too. The poor Jo @ the gas station who has to put up with people giving him abuse, Yeah the guy pumping the gas put the price up :rolleyes: Heck with the record profits that the oil company's made, the employees didn't even get a pay raise.

 

Even if (as individuals) we find a way to make our own fuel, like brewing alcohol or converting to electric. We still get stung as the trucks that deliver our food need fuel. Also most of the packaging is made from crude oil......er.....I think :D

 

Quite funny really. Both Henry Ford and Adolf Hitler wanted to build a "Car for the masses" (among a few other things) :lol:

Now we have loads of cars, it's the fuel that will soon be out of reach for quite a number of people.

 

Now I'm just rambling..Long day at work :D

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Nope. Think of it like this....

 

What if you tell 100 idiots 1 thing? Soon 100,000 idiots will all think the same thing.

 

That's exactly what's happened here. Couple of rumours, caught on, now people think we're running out....and prices skyrocket.

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I work for a chemical inspection company, we perform quality / quantity surveys on various products / chemicals. One of our biggest clients is BP. Our Houston / Texas City office handles approx. 25% of thier crude oil discharges. On average we bring in 1mil bbls of crude oil every 3.5 days. And this is only from the vessels my company attends. You can look at thier dock schedule for this refinery alone and see the huge volume of crude they bring it. Ships are lined up for months down the line.

 

My father works for a similiar company in Corpus Christi. While I was down there this past weekend he was telling me about a crude vessel thats been sitting offshore waiting to come in for 2 weeks. He tells me the vessel won't make it to the dock for another 1-2 weeks due to it missing its lay days and there is too many other vessels in line. A typical crude vessel of this size costs approx. 3500-4500USD per HOUR. There are huge amounts of money being paid in demurrage alone on these vessels. This is just one expense in this business yet Big Oil continues to rake in record earnings.

 

Its my opinion that there is no shortage. Its also my opinion that the price of oil, like everything else is driven by greed.

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As to overcome the prices, we need to start drilling more on our own land and build at least one more refinery. But there are some types of people out there that wont allow us to do this. If you were to do this it would lower the price of gas. As for food prices, we need to stop trying to push E-85, its a total joke and people need to start doing research before they jump on a band wagon and think that this "newest" product will be the end all-save all.

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no there is no shortage just yet but that's coming. you will see.

 

No, not an actual one, a forced shortage of supply, but there is a hell of a lot more than anyone realizes.

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Nope. Think of it like this....

 

What if you tell 100 idiots 1 thing? Soon 100,000 idiots will all think the same thing.

 

That's exactly what's happened here. Couple of rumours, caught on, now people think we're running out....and prices skyrocket.

*Starts a rumour that the World is flat*

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If i can remember correctly, i read something about hemp oil being used as a fuel source. In fact i believe one of henry fords first vehicles produced ran on hemp. Or it had a hemp body i cant remember. I will try to dig it up. I think that we need to ease up on our dependence on oil because it is going to run out eventually. And we need start converting cars to run on other things, like hemp, alcohol, veg. oil stuff like that. Renewable substances that can be grown and not pumped out of the ground. I will try to dig up that article.

 

EDIT

ok well turns out there are a ton of articles on using hemp as fuel. And hear me out, because people usually dont listen when i bring this up(oh just another stoner) but i mean it is a very practical alternative. We grow the plants, produce oxygen, and when the fuel is burnt it produces co2. It is a very balanced system. And it can be used for many other things. Such as a plastic like substance, that is said to be stronger than sheet metal, and yes henry ford did build a car out of hemp.

 

Sorry if i didnt exactly grasp the topic, but i thought i would share.

Edited by 89pathfinder
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You are totally right but who will kickstart this initiative. I think alot of consumers would attempt an alternative if it was financially viable and readily available.

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And we need start converting cars to run on other things, like hemp, alcohol, veg. oil stuff like that.

 

The Germans had tanks in WW2 that would run on gas, kerosine (sp), and alcohol. I don't know how efficient they were, but with todays technology... Yeah..

Fact of the matter is that alternatives are not embraced because the big corporations have a monoply as it is. Why change things when retirement is 8 years away and the bonuses keep comming?

 

well turns out there are a ton of articles on using hemp as fuel. And hear me out, because people usually dont listen when i bring this up(oh just another stoner)

Hemp is not for stoners, green bud is. Hemp is a plant that has 100 industrial uses, from rope to clothes to fuel, etc. Not to mention it grows like a weed. It is a perfect example how greed and stupidity stands in the way of progress.

 

B

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The lumber industry was actually one of the big supporters of "hemp" erratication back in the day. We have a lot of skewed laws/stereo types/stigmas on things that are a result of elitest ignorance and greed.

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i skipped most of the responses just to throw in my answer to how high will it go...

 

I'm thinking $7-8 is where it will plateau b/c that is where most americans that are still driving like gas was $.99/gal will start planning their routes out and not going as much...

 

the only thing to do this sooner is a complete walkout of all truckers...I know a lot of independent truckers have parked their rigs b/c fuel costs just arent worth delivering a load

 

I think oil will break $200/barrel this year just on the current trends unless things get really nasty here in the US...

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The lumber industry was actually one of the big supporters of "hemp" erratication back in the day. We have a lot of skewed laws/stereo types/stigmas on things that are a result of elitest ignorance and greed.

 

DuPont

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