Oil Hits $140 Today.......

[Brett]

OPEC is saying they expect it to rise to $170 by the end of the summer.

[blaknoize]

Ok Ok... we kno its gonna keep rising. Geez...

Change the way u live... get rid of somethin called an SUV or a LARGE TRUCK or LARGE SEDAN and drive somethin made for point A to point B. Downsize ur house... whatever

[Ran]

That's because OPEC is nothing but a bunch of money-grubbing b@stards and are controlling the market on a necessary resource. Fail.

[slostang]

I thought they were increaseing production?

[twinj]

Great

[BKgen®]

mother f*cking gay ass threads

[Evolunchbox]

The bubble will burst soon... However, I don't doubt the $170/barrel price because frankly, they can charge whatever they want. A piece of info: A barrel of water is still cheaper than a barrel of oil...

From what I understand, 70% of the rising cost of crude is because of speculation (aka. hedge funds, large trading houses, etc.). They are trading futures of oil and playing the bull so much that it's creating a higher cost frenzy so to speak...and the demand isn't even there! There has only been 1% increase in the WORLDS consumption of crude, which doesn't correlate with the current price. What does all of this do?... Well, it puts a big focus on commodities and those prices are seeing record highs as well (corn, etc..) Everything you buy has some sort of energy price built into it... somehow. Basically, you will be paying more for just about everything until this burst. Also, there isn’t a safe CD/AAA bond rate anywhere at the time, so putting your money into something you might have considered safe a while ago isn’t going to be smart. My recommendation is to put all your money underneath your mattress…so to speak.

The big oil companies make profit after ~$35 a barrel! They are clearing all overhead costs by A LOT! They truly don’t need it! Look at the profits of Exxon Mobile over the past 2 years! It ridiculous money! Sit tight because it will come down. What may happen is that demand will finally play a role and force the price to come down or the bubble to burst because people will refuse to pay the price. Overall the demand in the U.S. is down for crude, over the previous year, so something needs to/will happen. These are very interesting times to be living in…

Sorry for the rant... jut my , I'm bored and I hear this crap every day! lol

[twinj]

That is going to be tough to read

[Kevykev]

F your Oil threads BRETT, F Them!

[Alan®]

come on $6/gallon

[redrumracer]

I say it wont. and ill put a 1 week ban on the line for it.

[ShooterMcGavin]

wtf? didn't it just drop by like $5/gallon yesterday?

[thinkfast®]

DROP IT LIKE ITS HOT

WHAT YOU MAY ASK??

DEEZ NUTS

[DecoyOctopus]

lets all get scooters

[Just_CHill]

lets all get scooters

Lol, I'm thinking about it.

[Nemesis]

Its held steady at 4.15 a gallon (premium) near where I live. I dont mind, but Id be happy if it was back in the 3's

[IP37]

i say we form our own private army and take over

[Brett]

wtf? didn't it just drop by like $5/gallon yesterday?

It did but Libya today said they "May" cut back production which would only cut 300,000 a day from the global market but that was enough to send it through the roof today. Many experts say it wont hit $200 though... But we will see.

[BanginJimmy]

Its sucks now, but this is actually a good thing for the long term. Rising oil prices are finally forcing congress to move towards domestice drilling. As soon as that happens we will see a 10-15 dollar a barell drop in price, after the drills start turning sometime next summer, if the bill passes before the elction, we will see anotehr $10-15 drop in crude.

Also, as stated before, just like the dot coms and the housing market, it can only be artificially inflated so much before the whole house of cards comes crashing down. When that happens we will be back to ~$2-3.00 a gallon gas.

[Brett]

Sad to say I think its a way for them to make us happy with $3.00 gas, which it worked cause now Id be more than happy with mid $2 to $3 a gallon gas.

[0p7!mu5]

this **** is gonna burst i dont think it'll go too much lower than 4/gal but the like earlier stated in the long run it'll help since it is forcing congress to pass long overdue legislation. THe just passed a bill to help out public transit. On the drilling issue I've been to alaska and im not really for drillin there but itf the get to the ocean they better hit the spots they already had leases for and some serious enviromental regs need to go down before they do. On the real tho its about time they tax the soccer moms for those huge suv's. A family of four needs a damn mid size sedan and nothing else damnit!

[Lucky DAWG]

Only solution is to nuke the middle east and move in.





(crawls in bomb shelter)
****ing communists

[0p7!mu5]

Only solution is to nuke the middle east and move in.





(crawls in bomb shelter)
****ing communists

lol wouldn't that start burning half the damn oil.. Coll idea though definitely solve in some form or fashion the problems with foreign countries but oh the retaliation..

[Lucky DAWG]

lol wouldn't that start burning half the damn oil.. Coll idea though definitely solve in some form or fashion the problems with foreign countries but oh the retaliation..

HEY!


no one said we weren't gonna have to make some sacrifices around here, but its worth it!

[Kevykev]

but Id be happy if it was back in the 3's

Seems like that's what they could've been aiming for. "If they're used to paying 1 and dislike paying 2; shoot it up to 4+ so they will be content with 3"



I'll only be "truly" happy when it goes back to $1.29. That was less than 10 years ago. definitely not too much to ask for.

[ShooterMcGavin]

It did but Libya today said they "May" cut back production which would only cut 300,000 a day from the global market but that was enough to send it through the roof today. Many experts say it wont hit $200 though... But we will see.

see i think all these fvckass terrorist harboring countries "say" this type of sh*t on a day to day basis at the behest of speculators just to drive up the prices. fvck'em all.

[Evolunchbox]

Its sucks now, but this is actually a good thing for the long term. Rising oil prices are finally forcing congress to move towards domestice drilling. As soon as that happens we will see a 10-15 dollar a barell drop in price, after the drills start turning sometime next summer, if the bill passes before the elction, we will see anotehr $10-15 drop in crude.

Also, as stated before, just like the dot coms and the housing market, it can only be artificially inflated so much before the whole house of cards comes crashing down. When that happens we will be back to ~$2-3.00 a gallon gas.

+1

[UpSideDownDesi]

i am moving to Dubai....kthanksbye

[Lucky DAWG]

on a serious note though.




I agree that these countries are making false speculations to drive the prices up to get gross profits from overseas investors and clientel...


They are pushing the buttons of the wrong country too considering our military has a bigger bugdet then the rest of the globe's countries combined.