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Thread: how high will oil prices go this summer ?

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    Default how high will oil prices go this summer ?

    things are certainly stacking up for unprecedented price increases based on war fears ...

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    Default Re: how high will oil prices go this summer ?

    just heard where there are estimated to be 6,000,000,000 harvestable barrels of oil available in ANWR. If Bill Clinton hadn't vetoed the bill authorizing exploration back in '94, we'd be in a very different position today. Back then, it was $19/barrel. Another pearl for his legacy.
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    Default Re: how high will oil prices go this summer ?

    ^^^ well the conspiracy theory goes like this ... 50 or 100 years from now, when the world's brightest minds finally come up with a real energy solution (like nuclear fusion), there will still be a need for petrochemicals / plastics etc. With middle eastern oil, north sea oil, mexican oil, venezuelan oil etc. essentially depleted by then as they will be used up meeting near term energy needs, US oil reserves in Alaska as well as offshore of all three coasts will be the only MAJOR source of oil remaining for petrochemical / plastic production.

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    Default Re: how high will oil prices go this summer ?

    Quote Originally Posted by bem401 View Post
    just heard where there are estimated to be 6,000,000,000 harvestable barrels of oil available in ANWR. If Bill Clinton hadn't vetoed the bill authorizing exploration back in '94, we'd be in a very different position today. Back then, it was $19/barrel. Another pearl for his legacy.

    We use 20.8 million barrels a day (approx).
    So how many days will 6 billion barrels cover our energy needs? That's right, about a month's worth of oil.

    One month.

    Maybe curbing usage would be the better plan?


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    Default Re: how high will oil prices go this summer ?

    Quote Originally Posted by Paris View Post

    We use 20.8 million barrels a day (approx).
    So how many days will 6 billion barrels cover our energy needs? That's right, about a month's worth of oil.

    One month.

    Maybe curbing usage would be the better plan?
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

    Actually, that would cover 288.46 days usage, not quite 10 mos, and not enough for the "warm fuzzies", either. Curbing usage (defense), finding/exploiting more sources (offense) good plan.

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    Default Re: how high will oil prices go this summer ?

    ultimately, we have the opportunity to cut about 10 billion barrels of annual oil consumption (or natural gas equivalent) with existing proven technology. All that has to happen is for certain people to allow the construction of nuclear reactors to retire oil and gas fired power plants ! France gets 80% of its electricity from nuclear ... but the US is less than 20%. This certainly comes across as highly hypocritical !

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    Default Re: how high will oil prices go this summer ?

    The actual numbers were 9-16 billion barrels from only 8% of the land area. And no one is proposing we derive all out oil from ANWR. The additional oil, combined with conservation strategies and alternate energy sources, would serve to reduce the price though.
    "never trust a big butt and a smile"-- Bell Biv DeVoe

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    Default Re: how high will oil prices go this summer ?

    another chapter ...



    (snip)"Jerusalem - President Bush, at the height of his Wednesday-to-Friday visit here to celebrate the 60th anniversary of Israel, stood before the Knesset and laid out a vision for the Middle East 60 years down the road: an Israel that still stands tall, lives next to a Palestinian state, and is surrounded by countries where democracy and human rights reign.

    But his shorter-term vision, particularly in terms of his view of how things look today, sounded like a return to the stark rhetoric he became famous for in 2002 when he described Iran, Iraq, and North Korea as an axis of evil.

    His prepared speech was also laden with religious imagery, mapping a spiritual and ideological picture of a close US-Israel relationship that seemed unprecedented in a speech by any US president, analysts say.

    "This struggle is waged with the technology of the 21st century, but at its core it is the ancient battle between good and evil," Mr. Bush said Thursday in his official speech at the Knesset, Israel's parliament. "The killers claim the mantle of Islam, but they are not religious men," he said. "No one who prays to the God of Abraham could strap a suicide vest to an innocent child, or blow up guiltless guests at a Passover Seder, or fly planes into office buildings filled with unsuspecting workers."

    In the speech, Bush offered unwavering support for Israel, referring to its enemies in Hamas and Hezbollah and Iran's Mahmoud Ahmadinejad as dark forces that Israel and the West should not be fooled into "appeasing," evoking the world's appeasement of Hitler in the 1930s.

    "No nation should ever be forced to negotiate with killers pledged to its destruction," Bush said, a reference to suggestions from some mediators – such as former President Jimmy Carter in a recent mission here – that Israel should negotiate with Hamas, which controls Gaza. The comment was also seen as aimed at Democratic presidential candidate Sen. Barack Obama who has suggested that the US sit down at the table with Iran and Syria.

    "There are good and decent people who cannot fathom the darkness in these men and try to explain their words away. This is natural. But it is deadly wrong," Bush said. "As witnesses to evil in the past, we carry a solemn responsibility to take these words seriously," he added, after mentioning Mr. Ahmadinejad's suggestions that Israel ought to be "wiped off the map."

    "Permitting the world's leading sponsor of terror to possess the world's deadliest weapon would be an unforgivable betrayal of future generations. For the sake of peace, the world must not allow Iran to have a nuclear weapon," Bush said, engendering a long round of applause. "(snip)

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    Default Re: how high will oil prices go this summer ?

    It'll never happen. These people were made for monarchies and theocracies.

    To much responsibility you see. If one takes it up on their own it isn't Saddam's fault, or the US's fault, or the fault of those "damn jews."

    No. There must be someone to blame for their woes but for themselves and their enforced ignorance.

    There is a brain drain out of there like you would not believe. In SA, if you have no contacts with the royal family - a decent job is pretty hard to come by. How can democracy ever take hold there?

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    Default Re: how high will oil prices go this summer ?

    I have no clue how barrels of oil translate into gas prices, so I don't pay attention to the prices. Honestly, the rising cost of everything sucks, but I personally can't do anything anything ANYTHING about it, so the only numbers that concern me are the prices I pay at the pump.
    Incidentally, I got a funny text message:

    "They just passed a new law where porn will be played at gas stations. That way, you're not the only one getting fucked when you fill up your tank."

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    Default Re: how high will oil prices go this summer ?

    It'll never happen. These people were made for monarchies and theocracies.

    To much responsibility you see. If one takes it up on their own it isn't Saddam's fault, or the US's fault, or the fault of those "damn jews."

    No. There must be someone to blame for their woes but for themselves and their enforced ignorance.
    funny you should mention this ...



    (snip)"DUBAI (Reuters) - Osama bin Laden vowed in an audio tape to mark Israel's 60th anniversary to continue to fight the Jewish state and its allies in the West.

    The al Qaeda leader, who has placed growing emphasis on the Israeli-Palestinian conflict, said it was at the heart of the Muslim battle with the West and an inspiration to the 19 bombers who carried out the attacks on U.S. cities on September 11, 2001.

    "We will continue, God permitting, the fight against the Israelis and their allies ... and will not give up a single inch of Palestine as long as there is one true Muslim on Earth," he said in the message, posted on an Islamist website on Friday.

    Bin Laden said Israel's anniversary celebrations were a reminder that it did not exist 60 years ago, and had been established on land seized from Palestinians by force.

    "This is evidence that Palestine is our land, and the Israelis are invaders and occupiers who should be fought," he said in the tape, which was addressed to the Western public.

    The Saudi-born militant also said that decades of peace initiatives had failed to establish a Palestinian state, and the West had proved time and again that it sided with Israel.

    "The participation of Western leaders with the Jews in this celebration confirms that the West backs this Jewish occupation of our land, and that they stand in the Israeli corner against us," he said. "They proved this in practice by sending their forces to southern Lebanon.""(snip)

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