Oil may surge to $220 amidst Mid-East unrest

Started by peestandingup, February 24, 2011, 02:25:48 PM

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peestandingup

#30
March 07, 2011, 03:36:28 PM
QuoteBLOOMBERG Mar 7, 2011 - Saudi Arabia's `Day of Rage' Lures Record Bets on $200 Oil

Options traders are betting more than ever that crude oil is heading to $200 a barrel as some websites call for a “Day of Rage” in Saudi Arabia and anti- government protests spread in the Middle East and North Africa.

More: http://www.bloomberg.com/news/2011-03-07/saudi-arabia-s-day-of-rage-lures-record-bets-on-200-oil-chart-of-day.html

Hmm, this may actually become our reality soon. Now, Obama is talking about opening up our strategic oil reserves, but we have such a small amount (only like 30 days worth at current US consumption rates), Im not sure what good that would even do. I mean, if gas is $6 or more at the pump, who cares if it saves you a couple cents. Those are debilitating prices anyway you slice it.

Ugh. :-[

heights unknown

#31
March 07, 2011, 05:07:09 PM
If oil gets to be that high they can come and get my van/car. I won't pay that much for gas! Never! No! Won't! Not!!!!!!!

I'll walk or catch the bus!

"HU"
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heights unknown

#32
March 07, 2011, 05:09:32 PM
We can always shoot back by simply NOT BUYING THEIR GAS! Put pain in their pocketbooks!
PLEASE FEEL FREE TO ACCESS MY ONLINE PERSONAL PAGE AT: https://www.instagram.com/garrybcoston/ or, access my Social Service national/world-wide page if you love supporting charities/social entities at: http://www.freshstartsocialservices.com and thank you!!!

peestandingup

#33
March 07, 2011, 05:23:43 PM
Quote from: heights unknown on March 07, 2011, 05:09:32 PM
We can always shoot back by simply NOT BUYING THEIR GAS! Put pain in their pocketbooks!

I wish it were that simple. If oil really does go this high, there will be a breakdown of the whole system. Everything is dependent on cheap oil. The food we eat gets trucked in from somewhere. So do most of the other types of goods we consume. We hardly produce anything locally anymore anywhere. Not to mention powering our homes, factories, etc. All that stuff is gonna go through the roof.

Our public transportation infrastructures are abysmal thanks to decades of neglect & dismantling (see: The Great American Streetcar Scandal). And what we're left with is hardly equipped to handle a surge in ridership something like this would bring about. And everyone lives in the suburbs now.

Seriously, this isn't a good position to be in. We're as vulnerable as we've ever been. HOLD ME! :'(

Garden guy

#34
March 07, 2011, 09:02:03 PM
Ohh....we're such a big massive kick ass country right?  yet a little stir up out east and we've got to pay through the nose because dealers are gambeling with our money...it's not fair and we're all puss' for not doing something about it...we are slaves at the hands of a few and if we dont stand up and say enough...then we deserve to pay out the ass for gass...

civil42806

#35
March 07, 2011, 09:10:39 PM
Quote from: peestandingup on March 07, 2011, 03:36:28 PM
QuoteBLOOMBERG Mar 7, 2011 - Saudi Arabia's `Day of Rage' Lures Record Bets on $200 Oil

Options traders are betting more than ever that crude oil is heading to $200 a barrel as some websites call for a “Day of Rage” in Saudi Arabia and anti- government protests spread in the Middle East and North Africa.

More: http://www.bloomberg.com/news/2011-03-07/saudi-arabia-s-day-of-rage-lures-record-bets-on-200-oil-chart-of-day.html

Hmm, this may actually become our reality soon. Now, Obama is talking about opening up our strategic oil reserves, but we have such a small amount (only like 30 days worth at current US consumption rates), Im not sure what good that would even do. I mean, if gas is $6 or more at the pump, who cares if it saves you a couple cents. Those are debilitating prices anyway you slice it.

Ugh. :-[


It does absolutely no good as everyone knows.  The reserves are for a real emergency not to alieviate high prices.  Since he wont issue drilling permits, The One will do a symbolic tapping of the reserves.  This happened back in 2000 during the gore/bush campaign also, but purely coincidental

tayana42

#36
March 07, 2011, 11:06:21 PM
As painful as it might be, significantly higher prices for gas may b what we need to finally begin to conserve, and to realize that dependence on imported oil is harmful to America.

Timkin

#37
March 08, 2011, 01:05:02 AM
Quote from: tayana42 on March 07, 2011, 11:06:21 PM
As painful as it might be, significantly higher prices for gas may b what we need to finally begin to conserve, and to realize that dependence on imported oil is harmful to America.

I have to ,sadly +1 you on that, tayana42... Today , a little over $50 bucks for a fill up in my tank.. I know everyone around me is experiencing the same thing.  When it gets to $100/a tank, I am pretty certain I will be purchasing a Scooter.   I cannot even fathom, the domino effect this is going to have on us.

BridgeTroll

#38
March 08, 2011, 06:38:29 AM
In a boat at sea one of the men began to bore a hole in the bottom of the boat. On being remonstrating with, he answered, "I am only boring under my own seat." "Yes," said his companions, "but when the sea rushes in we shall all be drowned with you."

BridgeTroll

#39
March 08, 2011, 06:50:05 AM
Shockingly... with a little effort... we could be the worlds top oil producer...

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2173rank.html

Rank country           (bbl/day)       Date of Information



1     Russia              10,120,000    2010 est. 

2     Saudi Arabia      9,764,000      2009 est. 

3     United States    9,056,000      2009 est. 

4     Iran                 4,172,000      2009 est. 

5     China               3,991,000      2009 est. 

6     Canada            3,289,000       2009 est. 

7     Mexico             3,001,000       2009 est. 

8     UAE                 2,798,000       2009 est. 

9     Brazil               2,572,000       2009 est. 

10    Kuwait             2,494,000       2009 est. 


In a boat at sea one of the men began to bore a hole in the bottom of the boat. On being remonstrating with, he answered, "I am only boring under my own seat." "Yes," said his companions, "but when the sea rushes in we shall all be drowned with you."

Coolyfett

#40
March 08, 2011, 07:05:40 AM
Gas being ten dollars a gallon would be awesome. Keep rising to the Top! Im already prepared for this. Bring on high gas prices.
Mike Hogan Destruction Eruption!

BridgeTroll

#41
March 08, 2011, 07:10:01 AM
Quote from: Coolyfett on March 08, 2011, 07:05:40 AM
Gas being ten dollars a gallon would be awesome. Keep rising to the Top! Im already prepared for this. Bring on high gas prices.
Thats awesome!  How about the old lady down the street?  That family over there?  The pizza delivery guy?
In a boat at sea one of the men began to bore a hole in the bottom of the boat. On being remonstrating with, he answered, "I am only boring under my own seat." "Yes," said his companions, "but when the sea rushes in we shall all be drowned with you."

JeffreyS

#42
March 08, 2011, 10:07:03 AM
OPEC announced this morning they will try to mitigate against supply disruptions.
Lenny Smash

BridgeTroll

#43
March 08, 2011, 10:11:23 AM
We should not open the Strategic Reserves. 
In a boat at sea one of the men began to bore a hole in the bottom of the boat. On being remonstrating with, he answered, "I am only boring under my own seat." "Yes," said his companions, "but when the sea rushes in we shall all be drowned with you."

JeffreyS

#44
March 08, 2011, 10:12:52 AM
Certainly not yet.
Lenny Smash
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