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Old 02-23-2011, 05:51 PM   #1
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Default $100.00 dollars a barrel of oil.....

Here we go again....Over $100.00 dollars for a barrel of oil....They just said on the news that by summer $4.25 a gallon easy....right now in ST.LOUIS,MO...gas is $3.15......Filled my car-up and it cost $55.00 dollars...Going to ride the Motorcycle alot this summer,I can see that right now....If it hits $5.00 dollars a gallon,the recession will never end.....OPEC is our new....GOD........

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Old 02-23-2011, 05:57 PM   #2
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I hope I am mistaken but I think this is just the tip of the iceberg. With dollar value sliding down...all commodity prices have no where to go but up.

Silver is a very good indicator of crude oil prices (it is about 6 months ahead)...and the past 8 months, silver price averaged 10% increase MONTHLY

It is scary.

http://silverprice.org/charts/history/silver_1_year_o_usd.png

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Old 02-23-2011, 06:03 PM   #3
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This is BULLSHIP! Oil topped the hundred dollar a barrel mark a couple years ago and prices didn't go that high. GRRRRRRRRRRRRRRRRRRRRRR!!! Somebody's reaming us. D:<

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Old 02-23-2011, 06:12 PM   #4
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Screw OPEC!!! I have three teams of horses, wagons, bobsled and sleigh so this old fool is going Amish and from now on will only buy gas for the tractors and very little of that. If it upsets people in town to have a few road apples spread around to hell with them. If people in this country would only not buy any gas for one week I am willing to bet gas prices would be where they should be; change around a buck a gallon.

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Old 02-23-2011, 07:13 PM   #5
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The top ten countries that the U.S. Imports oil from


1. Canada
2. Mexico
3. Saudi Arabia
4. Venezuela
5. Nigeria
6. Angola
7. Iraq
8. Algeria
9. United Kingdom
10. Brazil

Based on this well published list tell me how in hell troubles in Egypt and Libya can affect our gas prices to the extent forecast. We have been being ripped off by Big Oil for years and our fearless leaders help them do it. Our government even subsidized their billions of dollars con game.

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Old 02-23-2011, 07:31 PM   #6
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Quote:
Originally Posted by Walley View Post
The top ten countries that the U.S. Imports oil from


1. Canada
2. Mexico
3. Saudi Arabia
4. Venezuela
5. Nigeria
6. Angola
7. Iraq
8. Algeria
9. United Kingdom
10. Brazil

Based on this well published list tell me how in hell troubles in Egypt and Libya can affect our gas prices to the extent forecast. We have been being ripped off by Big Oil for years and our fearless leaders help them do it. Our government even subsidized their billions of dollars con game.
Oil prices are set mostly by them azzhole Commodity Traders on the futures market. Basically, it it is a market where investors, suppliers, and buyers trade commodities futures and do the deciding for us. As for a cap or limit, there is none, it is whatever people are willing to pay.
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Old 02-23-2011, 07:53 PM   #7
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Here is something that would change the trend. This US company has genetically engineered bacteria to mimic photosynthesis and produce hydrocarbon fuels without any raw materials other than sunlight and water. They project, in the article; crude oil production at $30 a barrel!!

A brave new world of fossil fuels on demand - The Globe and Mail

The resource is virtually unlimited!! The bacteria will work in fresh, salt and brackish water.

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Old 02-23-2011, 08:19 PM   #8
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Originally Posted by IGETEVEN View Post
Oil prices are set mostly by them azzhole Commodity Traders on the futures market. Basically, it it is a market where investors, suppliers, and buyers trade commodities futures and do the deciding for us. As for a cap or limit, there is none, it is whatever people are willing to pay.
Some of those traders may be worried about the Iranian navy camping out in the Suez canal, as well. That canal is important for oil shipments from Iraq and some other places.
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Old 02-23-2011, 09:14 PM   #9
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Quote:
Originally Posted by IGETEVEN View Post
Oil prices are set mostly by them azzhole Commodity Traders on the futures market. Basically, it it is a market where investors, suppliers, and buyers trade commodities futures and do the deciding for us. As for a cap or limit, there is none, it is whatever people are willing to pay.
YES..........they are called speculators, and they "speculate" that commodities will go up or down according to wars, uprisings, natural disasters, etc, etc.

the bas+ards CONTROL the rise and fall of a barrel


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Here is something that would change the trend. This US company has genetically engineered bacteria to mimic photosynthesis and produce hydrocarbon fuels without any raw materials other than sunlight and water. They project, in the article; crude oil production at $30 a barrel!!

A brave new world of fossil fuels on demand - The Globe and Mail

The resource is virtually unlimited!! The bacteria will work in fresh, salt and brackish water.
I FORESEE THE GUBMENT PURCHASING THAT PATENT AND PUTTING IT ON A SHELF SOMEWHERE....................OR TREE HUGGERS LOBBYING THE GUBMENT TO ENDORSE IT AS DETRIMENTAL TO "GREEN."
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Old 02-23-2011, 10:58 PM   #10
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Remember, it went to $100 a barrell today. This oil is weeks away from the local Exxon station tanks. Yet prices went up 12 cents in Orlando from this morning. That is just gouging. This oil comes from buys at $70 a barrell.

We need to drill offshore, and we need to build refineries. On the west coast so we can refine the Alaskan crude, and the east cost so we can refine what they will take out of the gulf.

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