$100 Oil coming soon
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This man is LITERALLY talking his book:
"After retiring from Shell, Hofmeister wrote a book titled "Why We Hate the Oil Companies: Straight Talk from an Energy Insider." In the book, which was released last week, he argues that the energy industry, special interest groups and the federal government are to blame for today's high energy costs and the nation's unsustainable reliance on oil."
"After retiring from Shell, Hofmeister wrote a book titled "Why We Hate the Oil Companies: Straight Talk from an Energy Insider." In the book, which was released last week, he argues that the energy industry, special interest groups and the federal government are to blame for today's high energy costs and the nation's unsustainable reliance on oil."
This is a key statement (emphasis mine):
"Hofmeister predicts that, IF the world economy recovers at all, the cost of oil will surpass $100 a barrel either at the end of this year or during the first half of 2011."
I think a full, worldwide economic recovery is a long way off - I think the current situation will be with us for the remainder of this decade, including sub-$100/barrel oil.
"Hofmeister predicts that, IF the world economy recovers at all, the cost of oil will surpass $100 a barrel either at the end of this year or during the first half of 2011."
I think a full, worldwide economic recovery is a long way off - I think the current situation will be with us for the remainder of this decade, including sub-$100/barrel oil.
Originally Posted By: L_Sludger
This man is LITERALLY talking his book:
"After retiring from Shell, Hofmeister wrote a book titled "Why We Hate the Oil Companies: Straight Talk from an Energy Insider." In the book, which was released last week, he argues that the energy industry, special interest groups and the federal government are to blame for today's high energy costs and the nation's unsustainable reliance on oil."
Those are 3 large groups. I say this all the time to my friends who like to blame one entity or person for creating a disaster. There is a lot of blame to go around, whether it's our current economic situation or energy problems.
This man is LITERALLY talking his book:
"After retiring from Shell, Hofmeister wrote a book titled "Why We Hate the Oil Companies: Straight Talk from an Energy Insider." In the book, which was released last week, he argues that the energy industry, special interest groups and the federal government are to blame for today's high energy costs and the nation's unsustainable reliance on oil."
Those are 3 large groups. I say this all the time to my friends who like to blame one entity or person for creating a disaster. There is a lot of blame to go around, whether it's our current economic situation or energy problems.
Wasn't alot of the oil price spike last time, from speculation? I doubt if the world demand has gone down at all from the last price peak.
Like gold, I think alot of the time oil prices go up because they are going up... Not really from a current supply demand situation.
Like gold, I think alot of the time oil prices go up because they are going up... Not really from a current supply demand situation.
As soon as the gov't and SEC started talking about restrictions on the speculation of commodities the bubble burst.
The economy is not recovering ...the top 2 or 3 % are spending again but the majority of ordinary consumers are not doing well at all, UE rate (actual) is very high not the 9.7% they claim. If you account for underemployed, PT, ect it is closer to 15% at least.
Oil isn't going to increase to 100$/bbl unless the mil-industrial complex invades Iran. Considering how Israel controls the much of US policy I wouldn't doubt the possibility.
The economy is not recovering ...the top 2 or 3 % are spending again but the majority of ordinary consumers are not doing well at all, UE rate (actual) is very high not the 9.7% they claim. If you account for underemployed, PT, ect it is closer to 15% at least.
Oil isn't going to increase to 100$/bbl unless the mil-industrial complex invades Iran. Considering how Israel controls the much of US policy I wouldn't doubt the possibility.
He is correct however. Special Interests started in the early 1900's as automobile and tire manufacturers then add the larbor unions, trucking industry in the 1940's on to the present.
Eisenhower's construction of the Interstate System sealed the deal.
As long as trucking continues to be a major player in the movement of goods and as long as we continue to drive cars whether that be because we want to live in the suburbs/rural communities or we just like to drive Oil WILL be $100 barrel in short order. It'll arrive quicker once inflation kicks in.
Eisenhower's construction of the Interstate System sealed the deal.
As long as trucking continues to be a major player in the movement of goods and as long as we continue to drive cars whether that be because we want to live in the suburbs/rural communities or we just like to drive Oil WILL be $100 barrel in short order. It'll arrive quicker once inflation kicks in.
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Originally Posted By: Vizzy
UE rate (actual) is very high not the 9.7% they claim. If you account for underemployed, PT, ect it is closer to 15% at least.
16.5% actually. The US gov't still tabulates this number, they just don't like to advertise the fact. It goes by the catchy title of "U6: Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers".
I'm glad that oil prices aren't higher than they are, but I'm not happy that it's taking such a deep recession to keep them there. Once a good recovery actually starts taking hold, look out.
UE rate (actual) is very high not the 9.7% they claim. If you account for underemployed, PT, ect it is closer to 15% at least.
16.5% actually. The US gov't still tabulates this number, they just don't like to advertise the fact. It goes by the catchy title of "U6: Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers".
I'm glad that oil prices aren't higher than they are, but I'm not happy that it's taking such a deep recession to keep them there. Once a good recovery actually starts taking hold, look out.
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The Feds have put massive restrictions on domestic ON SHORE drilling. This will always keep oil prices higher. It's like they want energy prices to skyrocket...
Originally Posted By: Tempest
The Feds have put massive restrictions on domestic ON SHORE drilling. This will always keep oil prices higher. It's like they want energy prices to skyrocket...
I'm by no means an expert but from my understanding oil is bought and sold on the world markets so the market price is reflective of worldwide demand. Where the oil comes from only addresses supply and remember OPEC quickly adjusts their output accordingly. Basically what I'm saying is that if we opened all the taps in the US. OPEC would quickly reduce their output to keep the price within X range and conserve their reserves.
From a long term strategic perspective you want to use everyone elses oil before you have to start using your own.
Now Jimmy Carters adminstration tried some wacky stuff with domestic oil production and fixed pricing but it almost bankrupted the industry.
My $.02
The Feds have put massive restrictions on domestic ON SHORE drilling. This will always keep oil prices higher. It's like they want energy prices to skyrocket...
I'm by no means an expert but from my understanding oil is bought and sold on the world markets so the market price is reflective of worldwide demand. Where the oil comes from only addresses supply and remember OPEC quickly adjusts their output accordingly. Basically what I'm saying is that if we opened all the taps in the US. OPEC would quickly reduce their output to keep the price within X range and conserve their reserves.
From a long term strategic perspective you want to use everyone elses oil before you have to start using your own.
Now Jimmy Carters adminstration tried some wacky stuff with domestic oil production and fixed pricing but it almost bankrupted the industry.
My $.02
That is the plan, the USA has to be be leveled into a 3rd world country.
I don't hate the oil companies in particular . All the corporations are fairly evil and look around at all the problems in the economy and government as the corps own the government. Study up on Monsanto ant their busisness tactics. Archer Daniel midland? The big banks.
Originally Posted By: Steve S
That is the plan, the USA has to be be leveled into a 3rd world country.
You've got that right. A permanent large underclass will result.
That is the plan, the USA has to be be leveled into a 3rd world country.
You've got that right. A permanent large underclass will result.
Originally Posted By: Tempest
The Feds have put massive restrictions on domestic ON SHORE drilling. This will always keep oil prices higher. It's like they want energy prices to skyrocket...
It sure seems that way! RAPE the taxpayers then kick em down the stairs seems to be their motto! This is applicable to all parties in every country,no exceptions.
The Feds have put massive restrictions on domestic ON SHORE drilling. This will always keep oil prices higher. It's like they want energy prices to skyrocket...
It sure seems that way! RAPE the taxpayers then kick em down the stairs seems to be their motto! This is applicable to all parties in every country,no exceptions.
Originally Posted By: Steve S
That is the plan, the USA has to be be leveled into a 3rd world country.
Unfortunately this is not a conspiracy "theory" it is fact.
If you want to see some fasciniating truths go to youtube and type in search:
djhivesdotcom 13 hours of conspiracies.
That is the plan, the USA has to be be leveled into a 3rd world country.
Unfortunately this is not a conspiracy "theory" it is fact.
If you want to see some fasciniating truths go to youtube and type in search:
djhivesdotcom 13 hours of conspiracies.
The problem with the people in this country is that if they admit their own government is enslaving them then they might have to give up Oprah or the next football game to do something about it. They don't want to be bothered.
The other problem is that they can't accept the word "conspiracy" which there obviously is without adding the word "theory" to it. That way they can continue ignoring the problem until THEY are out of work and it's too late.
The other problem is that they can't accept the word "conspiracy" which there obviously is without adding the word "theory" to it. That way they can continue ignoring the problem until THEY are out of work and it's too late.
Oil Crackdown = Higher Prices
Quote:
"We are putting off-limits roughly the same amount of oil as we import from Saudi Arabia," said James Lucier, an energy analyst at Capital Alpha Partners, referring to the second-largest source of imported oil in the United States, with more than 1 million barrels a day. "You do the math," he said.
Quote:
"We are putting off-limits roughly the same amount of oil as we import from Saudi Arabia," said James Lucier, an energy analyst at Capital Alpha Partners, referring to the second-largest source of imported oil in the United States, with more than 1 million barrels a day. "You do the math," he said.
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