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$50 a barrel

Discussion in 'Issues Around the World' started by ethics, Oct 15, 2007.

  1. jimeez

    jimeez Thread Killer

    Looks like Brazil has more oil than they thought

    I wonder how this news will affect the market? :banghead:

    It never ceases to amaze me how much a news blurb can affect the price of oil...or any other publicly traded stock for that matter.

    How are U.S. relations with Brazil?
  2. ethics

    ethics Pomp-Dumpster Staff Member

    Pretty decent.
  3. Domh

    Domh Full Member

    Brazil. Smoking hot women and lots of cheap oil.

    Could it get any better?

  4. Sierra Mike

    Sierra Mike The Dude Abides Staff Member

    Well, you could always sell your new bed, not buy that hot car you're talking about, forget about relocating to NZ, and go there instead. ;)

    1 person likes this.
  5. Domh

    Domh Full Member

    Oh I have never had any interest in moving to Brazil... just noting they have hot women and oil.

    I do not have a new bed.

    I do not have a new car.

    I am not moving to NZ anytime soon if ever.

    You... are scaring me.

  6. Sierra Mike

    Sierra Mike The Dude Abides Staff Member

    What? you mean you didn't post a poll about buying a new AWD car, or mention that your Sleep Number bed is only a year old, or that you really, really, REALLY want to immigrate to New Zealand?

    My mistake! :haha:

  7. Greg

    Greg Full Member

    And ask Dommy how long he's had his car. He's not driving some old wreck like his putting on the dog act implies. :) (I've just bought the same car he has but I have the 2007 model in V8.)

    I have a feeling we may be facing the beginning of a steep upward curve in oil prices and a resultant huge rise in gasoline prices. I believe that European style prices are only a short step away. In fact I may have made a mistake in picking the car I just bought, one getting 16/19 EPA mileage. I've already adjusted my driving habits to nearly old man category, and will probably face economic pressure forcing me to curtail my driving. Fortunately most of my driving has been commuting, something that is not necessary in my semi-retired present status. I'll probably have to buy a good mileage used basher if I resume commuting.

    I believe we may be seeing the end of $3/gallon gasoline and $4 may be the new standard, with $5-$6 the inevitable result of future refinery outages or other market mishaps. If there is any major upheaval in the Middle East we will probably face $10-$20 per gallon prices combined with rationing and mandatory car pooling. Things are looking bleak, and forget about sub-$3 gasoline. I think those days are over.
  8. jimeez

    jimeez Thread Killer

    Oil Officials See Limit Looming on Production

    This news won't help matters in the least. The oil folks are finally admitting something that has been discussed for years in places like lifeaftertheoilcrash. Except now this topic is being removed out from under the tin-foil-hats. Hopefully this will spur some realistic honest discussions amongst our policy makers and big oil companies.

  9. Arc

    Arc Full Member

    Do you see a connection between our involvement in Iraq and Afghanistan as having a significant effect on the value of the dollar and our economy in general?
  10. Greg

    Greg Full Member

    I do. We are sinking huge amounts of money down an endless rat hole. That can't possibly be helping the dollar. It's an (IMO) nonproductive waste of our economic resources. I may know nothing about economics but I blame the war in Iraq for a big part of our economic woes.
  11. jimeez

    jimeez Thread Killer

  12. Violet1966

    Violet1966 Stand and Deliver Staff Member

    Fun fun fun. Well our oil tank is low earlier this year and we have to put at least 100 gallons in to qualify for delivery. We usually dump 100 gallons in in April and this year it's coming sooner with the colder winter we've had, even with using wood heat with oil. The price? We have to shell out like 359 dollars on Wednesday after shopping for best prices all day since our usual supplier seemed a bit high. Sick of this already with the oil prices. :(
  13. Greg

    Greg Full Member

    Next year you'll fondly remember when oil prices were only $3.59 per gallon.
  14. damonlab

    damonlab Veteran Member

    Oil was $31/barrel when GWB took office. It was at $108/barrel the other day. I did some calculation and found that if the rate of increase stays the same, we will see $375/barrel by 2016.
  15. Violet1966

    Violet1966 Stand and Deliver Staff Member


    Why is it this stuff is allowed to be on the stock market if it could be prematurely driving prices up? I wonder, will it one day be pulled and regulated so things are more balanced with the price? I don't know enough about this stuff, but read it over and over the market messes it up. Shouldn't it stop already? :(
  16. tke711

    tke711 Oink Oink Staff Member

    World wide demand and futures speculators are the big culprits of the oil prices. Plus, it doesn't help that China is stockpiling at an alarming rate, eating up supply.
  17. jimeez

    jimeez Thread Killer

    The rest of the world has learned to play our (the U.S.) game...and they're doing a much better job...for now.
  18. Violet1966

    Violet1966 Stand and Deliver Staff Member

    Yeah along with all our soy apparently! I'm so mad over all this. It's just crazy. We help too much. It hurts us. And this market thing has to stop. It shouldn't be allowed at this point, with everything else it effects, to be on the market for the prices to be played with that way. Just too much at stake. These prices are going to do some real damage with all the other stuff going on right now. :(
  19. Stiofan

    Stiofan Master Po

    The price of oil is directly relected in the drop in the value of the dollar. If you have dollars and they are dropping, what do you do? You sell and buy gold (now nearly $1,000) or Oil.
  20. Greg

    Greg Full Member

    If you follow the same extrapolation, gasoline will be $16/gal by 2016.

    Not that I expect it won't.

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