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-- Tuesday August 9th: American crude @ $64.27
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Tuesday August 9th: American crude @ $64.27

LIKE an athlete who has recently discovered steroids, the oil market just keeps setting new records. Over the past 18 months, the world has seen oil prices clear $40, then $50, then $60 a barrel, with each new record seeming to fall more effortlessly than the last.

http://www.economist.com/agenda/dis...tory_id=4268274

Thats why I put my money in the caring hands of big oil.

Go XOM go!

quote:

Originally posted by Yoepus Thats why I put my money in the caring hands of big oil. Go XOM go!

Lucky you. I can't own individual stocks in my PA so I bought some XLE last year around $29. It's close to breaking $50 today, and I'm close to taking some profits.

VLO =

quote:

Originally posted by rainbow_marble VLO =

Indeed. I have a hard time seeing where the downside risk primarily lies for refiners.

VLO's profit is through the roof, they are the only company that is able to make crappy cheap oil into a product that is good enough to be resold as quality oil. it seems almost unfair that they are the only ones with this technology, but im not going to be bitching since i own the stock haha

quote:

Originally posted by rainbow_marble VLO's profit is through the roof, they are the only company that is able to make crappy cheap oil into a product that is good enough to be resold as quality oil. it seems almost unfair that they are the only ones with this technology, but im not going to be bitching since i own the stock haha

It's unfair that so many environmentalist nuts protest the building of any additional refining capacity in this country, therefore preventing additional fuel from being delivered to the market. It's not unfair that VLO has the edge in refining sour crude, that's called competitive advantage.

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Originally posted by Shakka It's unfair that so many environmentalist nuts protest the building of any additional refining capacity in this country, therefore preventing additional fuel from being delivered to the market.

Did they drive to the protest?

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Originally posted by donnybrasco Did they drive to the protest?

Dunno, but maybe they drove over the protesters and told them to go get real jobs.

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Originally posted by Shakka Dunno, but maybe they drove over the protesters and told them to go get real jobs.

I'd drive over one...but only with a Hummer or a Land Rover...dripping gas on them from my over-fed SUV as I pass.

Up more than 2 bucks since this thread started. At the rate it's rising, imagine it reaching $100 a barrel by the end of the year (my guess).

http://www.lifeaftertheoilcrash.net/

god ppl are so stupid. The reason why oil is going up is because of fear. The media keeps saying that oil is running out, even though there is enough oil to last us for another 50yrs. Also those oil corps such as XOM are to blame.

I guess someday we'll just have to start walking to places.

quote:

Originally posted by metalgearsolid god ppl are so stupid. The reason why oil is going up is because of fear. The media keeps saying that oil is running out, even though there is enough oil to last us for another 50yrs. Also those oil corps such as XOM are to blame.

50years isn't a long time when it may take 20years just to develop an alternate technology and another 15 to get it widely accepted.

Oil has to be drilled deeper and deeper every day and new methods like extracting oil from sand have to be used which are much more expensive than traditional means. Then you have to take into account all types of global problems like unrest in Nigeria, in South America and Sudan to war in Iraq and threat of sanctions in Iran to small influencial factors like the recent two refineries in the US that has to close down due to fires and other problems. Also within 50 years with oil supply per day not increasing, yet demand probably increasing more than double there is a real reason to be afraid. As our share of the global oil supply decreases with demand around the world our prices will keep rising.

quote:

Originally posted by BadBadNeil 50years isn't a long time when it may take 20years just to develop an alternate technology and another 15 to get it widely accepted. Oil has to be drilled deeper and deeper every day and new methods like extracting oil from sand have to be used which are much more expensive than traditional means. Then you have to take into account all types of global problems like unrest in Nigeria, in South America and Sudan to war in Iraq and threat of sanctions in Iran to small influencial factors like the recent two refineries in the US that has to close down due to fires and other problems. Also within 50 years with oil supply per day not increasing, yet demand probably increasing more than double there is a real reason to be afraid. As our share of the global oil supply decreases with demand around the world our prices will keep rising.

you see thats one of the problems, the media keeps on saying that the mideast is in turmoil which sends oil prices up. I mean if you look at very carefully, the US has a lot of forces in the Mideast so if they have to be used to secure oil, they will. A thing about the mideast is that most are happy with their form of government; if they weren't then they would have rebeled.
Like if you look at Iran the media is already making thier case as to why an invasion of Iran would be justified. You ask me the invasion plan of Iran has already been made, and will probably come to action in another year or so.

Whats wrong with politics today can't brown nations have nukes of their own if they want them

quote:

Originally posted by paranoik0 I guess someday we'll just have to start walking to places.

That would really fix the obesity problem here in the US

...and to actually put things into perspective...



Doesn't seem so bad now does it?

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Originally posted by Fir3start3r ...and to actually put things into perspective... Doesn't seem so bad now does it?

Well sort of, but not really since that graph doesn't even make it to 2005...

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Originally posted by metalgearsolid Whats wrong with politics today can't brown nations have nukes of their own if they want them

Kind of defeats the point of having non-proliferation treaties and goals, doesn't it.

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Originally posted by Shakka Well sort of, but not really since that graph doesn't even make it to 2005...

True...

I just paid the most I've ever paid for gas here in Toronto yesterday...

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Originally posted by Shakka Kind of defeats the point of having non-proliferation treaties and goals, doesn't it.

Yeah... but if you gave every county lots of nuclear weapons, then no one would use them. Theoretically.

quote:

Originally posted by Chris Larkin Yeah... but if you gave every county lots of nuclear weapons, then no one would use them. Theoretically.

The loop hole is giving nukes to terrorist which can not be associated with a country. I.e. Saddam giving nukes to Al. Q to attack the USA. Since there is no 'proven' link between Al. Q and Saddam, Saddam can nuke free all he wants via this agent.

quote:

Originally posted by Chris Larkin Yeah... but if you gave every county lots of nuclear weapons, then no one would use them. Theoretically.

We already did that. It was called Mutually Assured Destruction in the late 80's. I think most people globally preferred just not having to worry about yet another regime with nuclear capabilities.

Cheapest gas here is around $2.66 .. It Hurts like a MoFo.. This will resonate on the Economy soon enough.

Don't some countries use natural gas as fuel for thier cars? My dad says in Peru or Venezuela I don't remember where he said. Anyways he said they used natural gas and that it was cheap plus it lasted for a long time. That is what the taxi Driver told him. But yeah maybe we should use natural gas as fuel...not likely to happen too much politics.

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