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Oil Hits $65 a barrel!, Holy Crap!

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We're all doomed. I'm going to go look for my old skateboard. Should be worth thousands in a few months.
 
It's funny, I was reading a fiction book the other day, and in it, they were talking about the oil companies and their drive to control the US government and the population. Anyway, these people trying to stop the oil companies were talking about how bad it would be if oil hit $60 a barrel and how disastrous, economically, it would be if oil his $80 a barrel.
Well, we should get a front row seat in the next few months!
 
Flying Illini said:
It's funny, I was reading a fiction book the other day, and in it, they were talking about the oil companies and their drive to control the US government and the population. Anyway, these people trying to stop the oil companies were talking about how bad it would be if oil hit $60 a barrel and how disastrous, economically, it would be if oil his $80 a barrel.
Well, we should get a front row seat in the next few months!

While hardly a scientific sampling of the US economy, I have personally noticed many goods becoming more expensive. Things such as groceries. If inflation starts to become a problem, and the housing market is at a peak, then it could get a little interesting. I like to think we are not going to see a hard recession as a result, but if things can continue as they are we will certainly see a dip in the economy.

Oil companies are reaping record profits right now, which is interesting.
 
They still say that it isn't as bad as it was in 1981 when inflation is put into the equation. At that time I had 12 airplanes and 7 trucks trying to do scheduled operations for Emery Air Freight. We were paid by the pound and the shipment. BTW the interest rate was at 22% at the time also. When we get to $3.15 cents per gallon we will be paying the same at the pump that we were paying in 1981.
 
No one knows what the breaking point will be. If you really want to scare yourself read the doomsdayers at http://www.peakoil.com. Just remember they all tend to fead off each other and use a rather small sampling for their research. If you really want to do some research you'll find out that a lot of the problem is, as always, corporate greed. Do you really think these companies are going to do anything that would bring down the price of oil? It will go up as high as people will pay (which may or may not be much higher) and then it will stay there, and we'll hear for years about the small spare capacity and everything else as our stocks build and little if any investment is made. They've got us right where they want us, at the edge of our economic collapse, and they will hold us there as long as they can.
 
NO congressional actions will be taken because both parties are in the oil companies pockets. No question that they have some serious lobbying power in D.C.
 
Flying Illini said:
NO congressional actions will be taken because both parties are in the oil companies pockets. No question that they have some serious lobbying power in D.C.
I agree 150%! My truck (diesel) will run just fine on bio-diesel, but do you think that I could get any break on the price (hell no).
 
Flying Illini said:
NO congressional actions will be taken because both parties are in the oil companies pockets. No question that they have some serious lobbying power in D.C.

High oil prices are Bushies present to his fellow oil men back home. A news report recently stated that high oil prices are a result of a lack of refineries here in the US. Seems strange that we had enough refineries until all of the sudden...boom there it is.
 

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