$135+ for a barrel today. :bigclap:
cant wait to see $150 a barrel.
My wife always turns on the news in the morning. So I’m laying in bed half asleep this morning and Jim Cramer comes on yapping about $8/gallon and $150+/barrel is on the way. :hang: Maybe I wasn’t awake enough, but I think he actually said our reserves are empty. Fucker’s just fanning the flames. It was so obnoxious I almost got up to turn it off. At least he had the decency to call chicken-little on some asshole who predicted $12-$15/gallon.
yeah i’m in agreement with JayS :eek: to the point that one of our most important natural resources shouldn’t be being treated as a pure investment, like a stock or bond. If this kind of price spike was going on in the stock market, most everyone would be winning. (Except those who sold short) Oil is too valuable to the world to allow rampant speculation to fuck the price point. If I’m,NYMEX, i strongly consider putting some restrictions in now before the gov’t steps in and does it for me.
It’s the custom title, you know it is.
I can see why the government is playing the windfall profits game. The political retards are all coming over to my desk excited today and talking to me about “how the government is going to save us because they’re going after the oil companies”. “I saw it on the news!”.
:picard:
I try to explain margin requirements and market speculation and they look at me like I’m giving a lecture on quantum physics. “Big oil bad” is about the most the sheep can understand, so that gets votes. Nevermind that windfall profit taxes will only make matters worse, while going after the rampant speculation would provide immediate and real relief.
EDIT: I just have to get this in too. The majority of these sheep are Obama supporters. The few of us in the office who have real good financial discussions are all voting McCain.
same here…people talking about govt. going after the “big oil” and yet when I ask them if they know what speculation is, they look with a blank stare
this particular windfall profit tax though, if executed properly, should be nothing more than a threat to make big oil get their asses in gear on increasing capacity and finding new sources. Don’t want to build domestic refineries without tax breaks because pollution regulations make it less profitable than it used to, or invest in adequate R&D? Fine, we’ll take the money from you. Coupled with the speculation problem, this could be effective.
And if we were in the South, it would be the other way around. For every person that supports Obama on this issue, there’s 10 southerners that will vote McCain on race, gay marraige, and religion.
^ Joe, you make it sound like they haven’t build a new refinery by choice. They simply AREN’T ALLOWED TO. No matter where they try an environmental group blocks it. It’s not a matter of more money.
the environmentalists have had the upper hand, but its not an absolute deterrent. It can’t be in this economic climate. If they have to drill through a couple of them, so be it. There are places that would have been allowed to build refineries, they would have just had to invest in new pipelines and such. For example, the Bakken oil field in Montana and North Dakota has huge potential. Canada is already drilling the shit out of it. North Dakota has proposed at least one new refinery there. Problem is, all of the oil infrastructure is in the South. These are the kinds of things that could be worthwhile investments if they were forced.
while im not disageeing with Joe, jays makes a much better point about fixing things NOW
both plans in combination could work. one is short term and one is long.
That, or we could always become the world’s biggest rent-a-cop firm in Iraq. They want us to stay there and keep policing their civil war? Start charging them in oil for security services.
NOAA predicts above-normal '08 hurricane season
:ohnoes:
cmon oil people raise the barrel on this news.
I just considered buying a bike to get to/from work. Thankfully I’m good at math.
7 mile per day commute.
18mpg in my truck.
$4/gallon.
If I buy a 100 dollar bike it’d take all summer of riding it to work every single day just to break even.
Granted I’d get exercise too, but on the other hand I’d have to exercise.
NOAA predicted the same thing last year and it was one of the quietest seasons on record.
to make you guys feel better about pumping gas
Does any city in the US look ANYTHING like that?
I would love to live there
Dubai is fascinating. I can’t imagine how anything growing that fast can be stable, both economically and structurally…
stop it, the logic is rampant.
wow…dubai is nuts…i remember watching a program on the discovery channel about that indoor ski resort they have…unreal…im gonna find me a dubai broad and marry her ass, not for love because that would be stupid…solely on money and looks alone…
As long as oil stays over $100/barrel I don’t think you’ll have to worry about their economy.