$100.00 dollars a barrel of oil.....

Discussion in 'The Club House' started by LONGHAIR, Feb 23, 2011.

  1. LONGHAIR

    LONGHAIR New Member

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    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........:mad:
     
  2. Poink88

    Poink88 New Member

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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 :eek:

    It is scary.

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

  3. whistlindixie

    whistlindixie New Member

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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:<
     
  4. Walley

    Walley New Member

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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.
     
  5. Walley

    Walley New Member

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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.
     
  6. IGETEVEN

    IGETEVEN New Member

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    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. :rolleyes:
     
  7. dunerunner

    dunerunner New Member

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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.
     
  8. orangello

    orangello New Member

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    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.
     
  9. USEBOTHHANDS

    USEBOTHHANDS New Member

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    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


    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."
     
  10. Daoust_Nat

    Daoust_Nat Well-Known Member Supporter

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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.
     
  11. Boyerracing343

    Boyerracing343 New Member Supporter

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    FML, race season is going to be interesting this year.
     
  12. orangello

    orangello New Member

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    I'm hearing rumors about somebody buying up a crapload of oil shale in NW Arkansas. I guess somebody is betting on a banner summer for oil sellers.
     
  13. LONGHAIR

    LONGHAIR New Member

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    Don't they have millions of tons of oil shale in Canada??...Sounds like someone is going to get rich...Not..Me.......:mad:
     
  14. Bigcountry02

    Bigcountry02 Coffee! If your not shaking, you need another cup Supporter

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    $120 and settled down to $111 a barrel!

    Predictions I am hearing on the web and news media by Memorial Day - May 30, 2011 gas will be at $5.00
     
  15. USEBOTHHANDS

    USEBOTHHANDS New Member

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    closed @ just under $100 a barrel.
     
  16. dunerunner

    dunerunner New Member

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    Wait until Iran's war games with Syria start!!
     
  17. LONGHAIR

    LONGHAIR New Member

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    I never thought about war games ...IRAN and SYRIA....That will make it go over the top.....
     
  18. LONGHAIR

    LONGHAIR New Member

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    They just reported on ABC news that oil hit $110.30 a Barrel today...Why???...:confused::mad: