Comments on: Oil Tops $75 a Barrel

By: The Oracle

The Oracle — Sun, 23 Apr 2006 16:45:51 +0000

When Bush starts war with Iran, the price of gasoline will go down.

Why?

Bush will tap into the Strategic Oil Reserve, and make sure that U.S. oil companies have enough stockpiled crude oil delivered to them to tide them over in case there are any delays in crude oil shipments from the war-torn Middle East.

In fact, in preparing for just such a contingency, Bush recently ordered the topping off of the Strategic Oil Reserve. And the Republican Congress, on orders of the Bush administration, authorized a 250 million barrel increase in the capacity of the Strategic Oil Reserve a couple of years ago. Planning ahead?

So, the Bush administration, after Bush’s recent order, must come up with 250 million barrels of crude oil to fulfill his order to fill up the Strategic Oil Reserve to it’s maximum capacity.

Hmmmm, I wonder if this crude oil going into storage is being siphoned from present crude oil imports into the U.S., and if this diversion of crude oil from the refineries could be causing the price of gas to skyrocket???

Nawww, this couldn’t be happening. Otherwise, I would have heard it on the news. Right?

Bwwwaaahhhaaahhhaahhaa.

By: Tanbark

Tanbark — Sun, 23 Apr 2006 13:31:52 +0000

Would any of the dems thinking about running in 2008 consider a platform plank of regulating gas prices? :o)

By: That American Chap

That American Chap — Sun, 23 Apr 2006 09:01:21 +0000

As we speak, there are assholes working at Exxon (or any other major oil company) who are rubbing their hands together in glee, just like the Enron cats did as they laughed about how they were robbing “grandma” of all of her cash. If you squint just so, you can almost hear the workings of the fear machine pushing the prices up, traders (traitors?) applauding everytime the idea of “nuking Iran” comes up on the news as it boosts the price per barrel another $5.00 each time they do it, resulting in shiploads of cash being delivered to them. Nice to know that this administration is made of almost exclusively from folks pulled from the oil biz, specifically for the task. Hey, they’re just working on behalf of the shareholders, right?

By: fairnbal

fairnbal — Sun, 23 Apr 2006 02:01:07 +0000

I live in a major metro area and I happen to do a lot of driving for work. Just my experience in the past 4 to 6 wks. Traffic is down significantly. I am absolutely certain that my driving times are down. I happened to notice it about 6 wks ago and I thought it was because kids were out onspring break,therefore their parents had taken them out of town. Even the later spring breaks were over about 2 wks ago and the traffic continues. GDubb can continue yakking about the good economy but I can tell you that people spending another 30 percent on gas will to use a conservative term “trickle down” to every part of the American economy. I thought the Aaarabs were good buddies of Dubbya but I guess even the Aaarabs have difficulty understanding Dubbya’s speech.

By: Ceee

Ceee — Sun, 23 Apr 2006 00:41:34 +0000

DownUnderGirl,
The “MP3″ was the statistic that supposedly is going to be discontinued. I have no idea what that specifically refers to but I was told it tells how much money is in circulation.
As for not intervening to raise the market, perhaps they overcompensated for the dip they expected.
Thank you for the lead as to where to look. I’m going to have another discussion with the financial planner before I bring this up again.

By: trashyharry

trashyharry — Sat, 22 Apr 2006 23:48:50 +0000

scud has just scored a point and will be the recipient of the best post this hour prize,which is a genrous 2 lb can of jane’s secret recipe crispy peanut brittle.iv’e never won and im burning with envy.
i was about 16 years old when the oil embargo of the 70’s occurred.i think you dont see many references to it because alot of people were either little kids then or not even born
now,im not saying that an embargo like that would ever happen again.it wont because it worked too well.
however,for about 2 weeks in our county,gas was unobtainable at any price.our county was democratic party controlled at that time and had an office for consumer affairs.my mother was the consumer advocate at that time.
station owners from all over the county were desperately begging for help to get gas. my mother was able to help most of the people who asked for help to get gas.
however,there were a few who she could not help and many others who did not call the county,not knowing where to turn.just about all of these were wiped out-bankrupted.
the station owners are little guys,and they are about to get hit big time,while being accused of greed.
one further note:the next county administration was republican-controlled and my mother got the very first pink slip when the offc for consumer affairs was axed.

By: Scudrunner

Scudrunner — Sat, 22 Apr 2006 23:19:51 +0000

Ron Russell,
I agree… I work for an automobile manufacturing plant and my union even supported the company’s effort to block cafe. I was appalled and indignant, but alas it was a bunch of my union brothers and sisters that voted for the republicans now trying kill organized labor. But its going to take more than cafe to fix us. The energy waste of operating huge (ancient and uninsulated) assembly plants, the heating of large office complexes in the off hours, all the lights that are on everywhere for advertising, etc. All these things need to come under scrutiny to reduce exorbitant consumption. Conservation could go so far to relieve our demand pressures.
Hybrids are but a minor stopgap and I fear that they will trick folks into believing that they are doing the right thing by buying/driving them. The ONLY net energy gain on a hybrid is the regenerative braking system. If you burn fossil fuel to generate electric and then turn electric into mechanical energy, you are losing efficiency. Better to convert fossil fuel directly to mechanical energy. Otherwise, the hybrid achieves its mpg from the fact is has a much smaller powerplant/performance capability and shuts off the engine in traffic stops. All admirable traits and a net energy saver but if you calculate the fuel cost savings into the added cost of owning, the net savings is minimal (I don’t intend to start an argument here, but there are dozens of forums out there discussing this at any given moment).
But it is true that this “crisis” will shake things up and I for one am glad that it will (should) reflect poorly on the republicans. Its just too bad that you have to take a (figuratively) two-by-four to people to get them to pay attention…

By: DownUnderGirl

DownUnderGirl — Sat, 22 Apr 2006 23:09:47 +0000

Ceee, this is, I suppose a deliberate EPU — I just woke up here in Australia. But I don’ t believe your financial planner’s claim. The US government doesn’t have the cash to intervene in the market like this, and the Fed only does so when things are already going to hell. (think: LTCM) They wouldn’t intervene just to keep the market rising.

You can find out how much extra money is in circulation each week at the Federal Reserve Web Site. (They don’t cover just how much new money is being printed - that statistic doesn’t matter because some of it is to replace torn or otherwise spoiled notes being withdrawn from circulation.) The amount of currency in circulation is available monthly in the Fed Bulletin.

Don’t know if you are still watching this thread or if this is a deliberate EPU, but since I know the answer to this stuff, I thought it was worth de-lurking on a Sunday morning on the other side of the world.

PS: Love the comment preview thingy!

By: Ron Russell

Ron Russell — Sat, 22 Apr 2006 22:56:39 +0000

Scudrunner, thanks for the reply. I would all that if the GOP hadn’t been so successful at killing CAFE standards, we’d all be better off. Even if they had drilled till ANWR was a Dry Hole, they wouldn’t have bought as much relief from imported, as if we’d just kicked up the MPG a bit. Now they are beginning to make Hybrid SUV’s and I’m worried that folks will look at 20 MPG and say–”I’m dong my bit”. I agree with everyone who is concerned about “Peak Oil”. Something to remember: Without Oil, the planet’s total carrying capacity is about 1 Billion People. If we don’t (through Attrition) decrease the population and come up with alternate fuels (and fertilizer), the die off is going to make the Bubonic Plague look like a picnic. Time is not on our side and we need a crash program along the lines of:

Apollo X The Manhattan Project X Reduced Population Efforts (beyone ZPG) = Will it be in time?

Everytime I hear some wing nut banter about “Life” I get sick. I’d rather not have folks born–than for masses to starve to death. I wasn’t concerned till I read Matt Savinar’s work.

By: Scudrunner

Scudrunner — Sat, 22 Apr 2006 22:45:22 +0000

Good point Ron Russell, I read a good article somewhere recently on how Chavez’s big sin is the good chance that his social experiment will succeed. Our capitalistic power brokers here don’t want that to happen.

Sharkbabe, I like most of what you write, but blaming SUV’s and the folks that drive them for our current situation is wrong. The fact that Bushco has gotten elected 2 times and the ignorant masses have elected a republican controlled congress is the real culprit. US policy is the most to blame. The vehicles that are built and bought prior to this time are just a reflection of what the customer wanted to drive based on current energy costs. If we had a govt that would make it policy to encourage dialogue on our energy future and take action to educate the masses, provide incentives to conserve and to explore alternatives, we wouldn’t have such a crisis now. I live in the rural midwest, very hilly and treacherous in the winter. I drive 28 miles to work one way, own and drive a 4wd vehicle that has been paid for many years now. Buying a new economy car now would actually increase my monthly costs. But before you judge that I’m not energy aware, you need to know that I heat my house with wood heat and have added insulation everywhere I can. The point I’m making is that we all have to be aware that there are various shades of gray out here in the real world. Not everyone has access to public transport or live within walking distance to everything. So please folks, dont go pointing fingers and blaming… too rightwing-like.