Oil Prices: Tired Of It.

I so fuckin tired of everything having an effect on oil prices. EVERYTHING. Hey there was threat in the middleast; raise the price. hey we dont like Iran; raise the price. Hey these pipelines are in danger; raise the price. Hey I lift weights; raise the price. Forecasters this and stockmarket that.All of these are POTENTIAL threats. Threat on this or that. Speculation.

We werent having this problem 10 years ago, at least not on this level. We all know that gas will never be under 3 bucks a gallon again but seriously. One of you smart guys chime in and tell me factual information. Thats all fine and dandy but the bottom line is I hate oil. I hate getting gas, I hate hearing about Exxon having billion dollar profits.I hate hearing about gas.

Next summer it may be 4 bucks a gallon. Really? 4 bucks? One quarter of people would stop driving. Whatever happened to the government investigation on price gouging? Someone please chime in before I shoot an oil exec.

It’s called supply and demand dude - at the margin. What those in charge don’t wanna admit publicly is the obvious - noone anywhere has spare capacity left to ramp up production so prices are extremely volatile and highly sensitive to news events. Every barrel of production is needed for consumption and the only thing that will happen now is for demand to adjust to supply instead of supply adjusting for demand like in the previous 200 years of our oil existance.

Google peak oil and read the works of Matt Simons and other great investors who have been taking positions in oil and oil related stocks for the last few years now. It will blow your mind the coming implications for our society as we must adjust to this reality of reaching the halfway point of oil production and enter the coming decline in this production. Scary stuff, but better to confront it head on than stick your head in the sand.

Get used to a world of competing for diminishing oil resources with an industrializing Asia resulting in much much higher prices from here in the medium to long term.

Rant over,
troop

[quote]Bigpull wrote:
I so fuckin tired of everything having an effect on oil prices. EVERYTHING. Hey there was threat in the middleast; raise the price. hey we dont like Iran; raise the price. Hey these pipelines are in danger; raise the price.Hey I lift weights; raise the price. Forecasters this and stockmarket that.All of these are POTENTIAL threats. Threat on this or that. Speculation.

We werent having this problem 10 years ago, at least not on this level. We all know that gas will never be under 3 bucks a gallon again but seriously. One of you smart guys chime in and tell me factual information. Thats all fine and dandy but the bottom line is I hate oil. I hate getting gas, I hate hearing about Exxon having billion dollar profits.I hate hearing about gas.

Next summer it may be 4 bucks a gallon. Really? 4 bucks? One quarter of people would stop driving. Whatever happened to the government investigation on price gouging? Someone please chime in before I shoot an oil exec.[/quote]

4 bucks a gallon? MAN I WISH it was that cheap. You guys gotta get out of the country and see what other people are paying and quit complaining.

Also it doesn’t always go up, it went down with latest plane bomb threat.

Here’s a tip: put some of your money into oil stocks/futures. Then when it goes up, you get richer, and can afford to buy some for your car. That’s what everyone is doing and getting richer and richer (and no doubt, your very own president is making a killing too. What WAS his background?).

Or here is another positive, when Iran sets up its oil exchange, and oil is traded somewhere other than America, then that might do wonders for the price as well. Or maybe not for USA anyway (the price will be the same but the profits will not).

I’m really not worried about it. If you cut down on unnecessary expenses, you will find a way to afford gas no matter how much it is (unless it’s ridiculously over priced - >$20/gallon).

Everything goes up over time. You either make more money to keep up with it, or find ways to reduce costs.

And if you hate oil, then find alternative sources. Ride your bike. Use electric instead of gas appliances. Drive a higher-fuel efficient car.

If you spend your money on soda, cigarettes or other useless junk, then you shouldn’t really worry about the price of oil. :wink:

[quote]atroopan wrote:
It’s called supply and demand dude
[/quote]
What the man says. Everybody wants oil, less and les countries have got it. And its probably going to get worse.

There’s plenty of doom-sayers out there saying its all going to run out very soon. But really, no-one knows how much oil is left. Everybody in the industry has an incentive to lie about how much they have. If you’re an oil company, you’re going to say you’re short on reserves, prices go up, you’re raking it in. If you’re an oil exporting country, you’re going to say that you’ve got plenty left, to avoid scaring foreign investors away. In truth, no-one knows.

But if its costing you too much, use less. Get on your bike and get some exercise.

Hey, what kind of answer did you expect? This is T-Nation, where exercise is the answer to every question, social, intellectual, or geo-political.

I’ve taken my own approach to locking in fuel prices. I filled my bathtub and every other watertight vessel in my apartment with gasoline.

They say that you adjust to any smell after 4 minutes, but I can assure you that with a house full of gasoline this rule does not apply and I’ve been getting headaches lately from the strong odor.

[quote]Bigpull wrote:

One of you smart guys chime in and tell me factual information.

Whatever happened to the government investigation on price gouging? quote]

These are actually where I was waiting for someone to chime in. I did realize the responses I might get. Nobody cares that Exxon made 6.5 billion profit over what the made the year prior. Something seems weird there,even with oil comsumption and prices up.

Nate Dogg: I dont smoke or drink pop so there goes that theory.

[quote]Bigpull wrote:
Bigpull wrote:

One of you smart guys chime in and tell me factual information.

Whatever happened to the government investigation on price gouging? quote]

These are actually where I was waiting for someone to chime in. I did realize the responses I might get. Nobody cares that Exxon made 6.5 billion profit over what the made the year prior. Something seems weird there,even with oil comsumption and prices up.

Nate Dogg: I dont smoke or drink pop so there goes that theory.

[/quote]

Then I guess you have to find ways to reduce your consumption or make more money to keep up with the costs. :wink:

Boo fucking hoo. You don’t like the price of gas? Deal with it. Stop driving everywhere. Move closer to work. Society is currently based on commuting. It is time to start living near everything you need so that you don’t have to drive.

Despite what those alarmist peak oil sites say, oil is not going to run out all of a sudden and society is not going to suddenly collapse. Companies will find more oil – but it won’t be from conventional sources. Unconventional sources of oil such as offshore, thermal heavy oil, and oilsands have much lower payouts than conventional oil since the oil doesn’t necessarily flow up out of the ground like on The Beverly Hillbillies.

The price of oil will never go back down. Even if everyone in the world stopped driving, oil is needed to make plastics (take a look around where you’re sitting and notice how many things you can spot that are made of plastic) and is still the fuel of industry – you know, the industry that makes solar panels and hybrid cars?

The wars of the 21st century will be fought over natural resources, so get ready.

I’m tired of hearing rants from people who seem to think that cheap gas is a right or a basic need. Look at your life and realize that it is not, and then do something about it.

[quote]Magarhe wrote:
Here’s a tip: put some of your money into oil stocks/futures. Then when it goes up, you get richer, and can afford to buy some for your car. That’s what everyone is doing and getting richer and richer (and no doubt, your very own president is making a killing too. What WAS his background?).[/quote]

Oil futures? What future??

It would be a better long-term, even short-term, strategy to invest in sustainable energy. By definition, we will one day all be using sustainable/renewable energy.

Once all the stored energy is used up, all you’re left with is today’s energy, to be used today… aka solar and wind (which is actually solar itself, the sun heating the air).

Oh, you could put some plants in the ground for biofuels, but then you’ve got to wait. Meanwhile, demand outstrips capacity, and solar energy is being wasted on the plant’s lifecycle.

Silly humans, the sun is the source of all energy/matter on Earth. It’s most efficient to go to it direct.

In one year, more solar energy hits the planet than the energy of all the oil ever used plus all the oil still to be pumped plus all the oil projected to yet be discovered. This is a fact.

The United States has been referred to as “the Saudi Arabia of wind power” due to the Great Plains region, and could easily generate all necessary energy by exploiting this strength, still having some to sell for export. This is a fact.

On distributed, clean energy systems based on solar, wind, etc. corporations and government toadies and other rich fucking pigs cannot kill people and steal their oil and fix prices and get richer and bleed us all stupid, while we choke ourselves and burn our skins off to the death with carbon emissions. This is a fact.

The same thing could happen on nuclear energy, as uranium is not dispersed evenly throughout the globe and nuclear power plants emit radiation even under normal operating conditions to pollute our bodies/environment. We’d just have green clouds next to the gray, with Canada and Australia raided for fuel instead of the Middle East.

Geothermal and water-gravity, while good clean fun, are already tapped out. Only 2% of US rivers have yet to be dammed. Of the three effective US geothermal sites, 2 are tapped and the other is a national park. Other countries are in the same situation.

Solar and wind are the future for everyone. This is a fact.

I heard of a factory here in the US which makes solar panels. Germany promises 40% sustainable energy economy by 2020. Germany bought the entire production line of solar panels from this company, for the next five years! Sheeit, you wanna talk about investment, one can’t do much better than that. And with a clear conscience too.

you want the truth? well, i don’t have the time, i don’t have the time.

what i can say, as a big bad oil employee, is that i get free gas. we all do. plus the company picks up my electric bill. so, in short, i don’t much give a fuck.

plus, every time oil prices go up, i get a huge bonus check and a party chock full of hookers, $1000 dollar bottles of vino, and hyoooge bags of coke.

i’m not bragging or nothing man, but this is the life!

the sad thing is we’ve had technology to implement alternatice energy sources for years but the government refuses to initiate changes because of the lobbyist (typical for the U.S.)

why haven’t solar panels been installed in homes or more windmills been installed in the desserts. Even if we can’t produce crazy amounts of ethanol, why are we not producing at maximum capacity yet. no significant economies of scale have been applied to any of these technologies and think about the jobs that would be created within the country.

and all the foreigners who say that americans need to stop complaining should remeber that we produce our own oil so therefore we deserve to have cheaper prices. It’s the foreign governments that levy taxes on their societies. laters pk

I agree with this. I’m sick of it, too.

US oil companies have stockpiles of this stuff. When prices go up, they don’t even buy oil. They use their stock to sell to the gas stations. They just pocket the extra money (proof of that is the record earnings they post each quarter that this occurs).

Also, really tired of hearing “try leaving the country / see what other countries pay.” Who cares? We are ALL getting shafted. Seems to me people from other countries have just dealt with it longer and should therefore be even MORE pumped (no pun intended) to rise up and say / do something about it.

I think the point here should be: it sucks, no matter where you live, and something should be done about it.

However, that being said, I have NO idea what that would be. :wink:

On a lighter subject, let’s all stop and stare at today’s Powerful Image for a while. Great googly moogly.

All you have to do is get a job that gives you a vehicle, and a gas card; and have a boss and main office that is in an entirely different state.

I don’t even have to look at the prices of different gas stations anymore. I just go to the closest one when the light comes on.

Who put the gun to your head and told you to buy gas?

[quote]SWR-1240 wrote:
All you have to do is get a job that gives you a vehicle, and a gas card; and have a boss and main office that is in an entirely different state.

I don’t even have to look at the prices of different gas stations anymore. I just go to the closest one when the light comes on.[/quote]

No offence to you, but half the problem are the people who don’t care about thier gas milage, and truck drivers who guzzle gas going rediculously fast in a not so aerodynamic vehicle. If people actually drove efficiently it would be a miracle. Although the damn oil companies wouldn’t lower thier prices anyways.

[quote]pkradgreek wrote:
why haven’t solar panels been installed in homes or more windmills been installed in the desserts. Even if we can’t produce crazy amounts of ethanol, why are we not producing at maximum capacity yet. no significant economies of scale have been applied to any of these technologies and think about the jobs that would be created within the country.[/quote]

Good point about the jobs, I forgot to hit upon that one.

Whoever develops, improves, produces and ships sustainable energy technologies for the world, will see their unemployment problems evaporate. Check out FDR’s New Deal if you don’t believe me. They basically did this back then, building hydroelectric plants and generally improving public infrastructures nationwide.

It boggles the mind that with determination, the US went from silly rockets falling over to a manned moon landing in 10 years. Yet we’ve known forever that oil is the devil, but had no determination to make the intelligent change. To continue to use oil is to fly in the face of all reason, for all but the people profitting off of it.

Think back to the mid-1970s. Oil crisis, 55 mph speed limits, Carter calling for an end to oil imports. Americans drive smaller cars for a few years until demand goes down enough that oil is affordable again. So they go back to gas guzzlers until the next price hike. Now some people are selling their guzzlers and buying hybrids. So the cycle will repeat.

Now look at what Brazil did. Mid-1970s, economy stagnant due to oil prices. So they determine to go to ethanol. Thirty years later, during which the US has done absolutely nothing, Brazil has become energy independant. That was their space race.

When we will start ours? It won’t be long. Peak oil and global warming are here to stay. If I had money, I know where I’d invest it.

[quote]Blood is Metal wrote:
I agree with this. I’m sick of it, too.

US oil companies have stockpiles of this stuff. When prices go up, they don’t even buy oil. They use their stock to sell to the gas stations. They just pocket the extra money (proof of that is the record earnings they post each quarter that this occurs).

Also, really tired of hearing “try leaving the country / see what other countries pay.” Who cares? We are ALL getting shafted. Seems to me people from other countries have just dealt with it longer and should therefore be even MORE pumped (no pun intended) to rise up and say / do something about it.

I think the point here should be: it sucks, no matter where you live, and something should be done about it.

However, that being said, I have NO idea what that would be. ;)[/quote]

Some of you really have no clue do you?

For the last 15 or so years the oil industry has operated with very little of a profit.
Hell, I can remember when my refinery was doing good if we made 20 million in a year. We were getting our asses handed to us by McDonald’s, Coca-Cola, Nike, etc. Micheal Jordan made more money than us in the late 90’s.

The problem is limited refining capacity coupled with increased global demand for oil. Why do you think the U.S. is strapped for refining capacity? If there was a profit to be made we would havve expanded refineries to increase throughput. Another reason is the BS companies have to go through for environmental permitting. You don’t just go down to the local Wal-Mart and get one of these.

There is an industrial revolution on a global scale right now with China nad India taking in more oil than ever before.

I work at the second to last grass roots refinery built in the U.S. it was commisioned in 1967. The last one is 20 mi away and it was built in 1976.

Like I mentioned before,

[quote]Race Fan wrote:
Blood is Metal wrote:
I agree with this. I’m sick of it, too.

US oil companies have stockpiles of this stuff. When prices go up, they don’t even buy oil. They use their stock to sell to the gas stations. They just pocket the extra money (proof of that is the record earnings they post each quarter that this occurs).

Also, really tired of hearing “try leaving the country / see what other countries pay.” Who cares? We are ALL getting shafted. Seems to me people from other countries have just dealt with it longer and should therefore be even MORE pumped (no pun intended) to rise up and say / do something about it.

I think the point here should be: it sucks, no matter where you live, and something should be done about it.

However, that being said, I have NO idea what that would be. :wink:

Some of you really have no clue do you?

For the last 15 or so years the oil industry has operated with very little of a profit.
Hell, I can remember when my refinery was doing good if we made 20 million in a year. We were getting our asses handed to us by McDonald’s, Coca-Cola, Nike, etc. Micheal Jordan made more money than us in the late 90’s.

The problem is limited refining capacity coupled with increased global demand for oil. Why do you think the U.S. is strapped for refining capacity? If there was a profit to be made we would havve expanded refineries to increase throughput. Another reason is the BS companies have to go through for environmental permitting. You don’t just go down to the local Wal-Mart and get one of these.

There is an industrial revolution on a global scale right now with China nad India taking in more oil than ever before.

I work at the second to last grass roots refinery built in the U.S. it was commisioned in 1967. The last one is 20 mi away and it was built in 1976.

Like I mentioned before,

[/quote]

You hit the nail right on the head. The key is refinery capacity. Everyone acts as if demand isn’t being met by crude supply. Crude oil inventories come out every Wednesday at 10:30 EST and you can watch and see there is never a dire situation with supply, just an occasional drawdown, and often a report above expectation. But cars don’t run on crude oil, and we can’t refine the stuff fast enough. We can’t have our cake and eat it too. We can’t refine the oil we need and have a clean environment.

Add some big players/speculators in the crude oil markets, with this limited refining capacity, and that’s a good recipe for rising prices.