Crude oil prices - the real story

[keith]

The doom and gloomers aren't going to like this:

Annual Average Crude Oil Price from 1949 to the present, including actual and inflation adjusted prices

Keith.

 

[Last_Z]

Ok, bear with me here Keith. Does that graph illustrate that even after all these years, we are basically paying the same price for oil as we were in the old days?

 

[Shannow]

It goes all the way to 2002, but is adjusted to 2000 prices. What's that got to do with today ?

About 2 years ago, Australia was 45c/$US, and petrol was on $1.00 per litre. Our treasurer tried to calm us down by point out that every cent(U.S.) the Oz dollar dropped, would mean 1c per litre at the bowser. We are now at 75c U.S. (an improvement of 30c), and we are still at $1 per litre.

 

[Al]

Unfortunately Keith the graph is 2 years old-it doesn't reflect what's happening now. In USD we are well over $30 and with the coming oil production drop and China's increasing demand it's gonna go higher.

 

[needtoknow]

Keith, I can hear all the cheers from those people paying for their gas. A lot of the reason for oil price hikes is the value of the U.S. dollar. It's dropped about 30% in the last 2 years so OPEC is not getting the purchasing power it used to.

 

[radiometer]

As has been pointed out by the several posters ahead of me the out of date graph cannot depict an accurate picture of today. However, I believe we must somehow reduce our dependence on oil, especially from foreign sources. Congress and the anti-capitalist Left is preventing our doing that. I am one of those on a medical retirement and I am hurt by the rising fuel costs. Many others are also hurt by the same. However, until this country reduces its high demands by either rising costs, shortages, or more fuel efficent automobiles the flow of oil will only have to rapidly increase over time. I have come to realize that the merely lowering of prices will only lead to more serious problems in the future by the forever increasing demand that at some point cannot be met. Do I hope for lower gasoline prices? YES I DO. However, it's clear enough to me that such won't be addressing the major problems of the exhorbitant wastes of fuel that is ongoing. This needs to be brought to an end. A short term solution would be for Congress to pass the President's energy policy proposals. For purely political reasons that is not going to happen. Even if they did pass it we're going to have to reduce the wastefully exhorbitant high demands. And what am I doing for my part? I refuse to own gas guzzler automobiles.

[ April 01, 2004, 10:16 AM: Message edited by: krholm ]

 

[Al]

quote:

---

Originally posted by GROUCHO MARX:
Al, you're not a conservative, you're a free thinker.

---

Well thanks for the compliment (if intended

). I try.

 

[outrun]

I tend to be a "conservative"

However!

Since I have a science background I also put environmental concerns and its protection ahead of my decisions.

It angers me why Environmentalism is not considered compatible with the right wing agenda.

The destruction of the species and deforestation is man's fault. I am no tree hugger but I have read enough to understand that horrible truth.

 

[keith]

quote:

---

Originally posted by Al:
Unfortunately Keith the graph is 2 years old-it doesn't reflect what's happening now. In USD we are well over $30 and with the coming oil production drop and China's increasing demand it's gonna go higher.

---

Which puts the cost of oil today at or below what it was from 1979 to 1985 or thereabouts.

The sky isn't falling. However, I believe we have reached the moment, particularly after 9/11 and what our friends at OPEC are doing now, to move the energy issue from domestic policy to national security. We could have done this sooner, but cheaper oil and complacency to terrorism through the 1990's caused the issue to slide. Nobody is to blame, it was the natural course to take then.

I hope President Bush (or Kerry!) seizes the moment to sell this to the public. Now there is a sentiment to get off the oil addiction, whereas there hasn't been before.

Nuclear power, pump out the oil under our own soil, and conservation (hybrid cars, etc.). Energy policy has always been a national security concern, but I don't believe the public sentiment was there to make change. Seize the moment.

EDIT - I will mention that I am giving JF Kerry's energy policy suggestions a close look. But, they seem to be twiddling at the edges with no teeth.

Keith.

[ April 01, 2004, 11:09 PM: Message edited by: keith ]

 

[Al]

quote:

---

Originally posted by krholm:
However, I believe we must somehow reduce our dependence on oil, especially from foreign sources. Congress and the anti-capitalist Left is preventing our doing that. I am one of those on a medical retirement and I am hurt by the rising fuel costs. Many others are also hurt by the same. However, until this country reduces its high demands by either rising costs, shortages, or more fuel efficent automobiles the flow of oil will only have to rapidly increase over time. I have come to realize that the merely lowering of prices will only lead to more serious problems in the future by the forever increasing demand that at some point cannot be met.

---

You are exactly right. The day of reckoning will come sooner or later. The sooner the better we will be in thr long run. If gas would go to $1.00 we would manage to gobble it up by putting a 12 mpg Hummer in every garage.

I'm conservative on most things-but it is curious that most conservatives can not come to grips with one of the biggest threats to our existance. Instead morons like Sean Hannity and Rush refer to people like me as Tree Huggers and Environmental Wackoos. But then again Rush does need a Hummer to haul his fat butt ariound

 

[GROUCHO MARX]

Al, you're not a conservative, you're a free thinker.