Oil Drop

[Jmoney]

Great Quote....

I heard a good one yesterday on CNBC with respect to the oil bubble:

"Every time we see a bubble, they come up with some rationalization that this time is different....... It never winds up being different."

-Let's hope the bubble bursts soon!

 

[Erlanger]

I heard an analyst (annal-ist as I like to say) on CNN today (for what his opinion is worth) say that the true price of gas should be around $2.00 a gallon.

 

[JumpersAway]

It's not going to pop, relax, or get any cheaper. The less we use and the cheaper it gets, the more China and India snap up. They're booming economies have skyrocketted the price of oil- and it's only going to get worse as the two populations drive an ever increasing number of cars with their new found wealth at the expense of the American worker, and US economy.

 

[Superpilot92]

If they were to announce that the US is buiding a couple of refineries, drilling would start in AK and nuclear power was the way of the future, the price of oil would cave in drastically...but we know that this would never happen...

Jvw

Exactly!!!!!!!!

 

[ToiletDuck]

Or if they would just lie about the economy. The second the treasury department chair gets on the air and says "economic outlook isn't good" the US market drops 300pts, the dollar takes a dive, and oil shoots up because of it. Why don't they just say the economy isn't in a recession and watch it all get better.

 

[atpcliff]

Hi!

Originally Posted by JvW
If they were to announce that the US is buiding a couple of refineries, drilling would start in AK and nuclear power was the way of the future, the price of oil would cave in drastically...but we know that this would never happen...

Jvw
Exactly!!!!!!!!

The above will make 0 difference over the next 5-8 years, AT LEAST.

Currently, the production of oil per day, and the usage of oil per day is close to even.

Announcing stuff that will increase the supply of oil in 5-8 years, and/or decrease the demand in 5-8 years, won't have ANY affect for the next 5-8 years. Additionally, by the time that added oil/reduced US demand comes into effect, probably the increased usage by China/India and oil producing countries like Iraq/Iran/Mexico will be MORE than the increased oil output.

CONSERVING energy today, WILL make a difference NOW. Switching to renewable energy will solve the problem in the long run.

Do we have enough oil to run our cars on it for the next 500 years???? No.

We do have enough renewable energy to run our cars forever.

cliff
GRB

 

[atpcliff]

Hi!

Originally Posted by JvW
If they were to announce that the US is buiding a couple of refineries, drilling would start in AK and nuclear power was the way of the future, the price of oil would cave in drastically...but we know that this would never happen...

Jvw
Exactly!!!!!!!!

The above will make 0 difference over the next 5-8 years, AT LEAST.

Currently, the production of oil per day, and the usage of oil per day is close to even.

Announcing stuff that will increase the supply of oil in 5-8 years, and/or decrease the demand in 5-8 years, won't have ANY affect for the next 5-8 years. Additionally, by the time that added oil/reduced US demand comes into effect, probably the increased usage by China/India and oil producing countries like Iraq/Iran/Mexico will be MORE than the increased oil output.

CONSERVING energy today, WILL make a difference NOW. Switching to renewable energy will solve the problem in the long run.

Do we have enough oil to run our cars on it for the next 500 years???? No.

We do have enough renewable energy to run our cars forever.

cliff
GRB