Comments on: Senate Alarmed Over "Failed" Oil Markets

Tells Oil Executives Laws Of Supply And Demand Do Not Explain Record Prices

[gaye5]

Well, with that statement, at least we know you are not borrowing yours...

Posted by brianbwb ...

ahahahahahah, you are so funny Brian, I burst out laughting at that one thanks for the laugh...

[radiob-2009]

Lets see, natural gas, propane, methane gas can all be used to run our autos off of. The average estimated cost for conversion is $650 and the average price per gal. after pound conversion is .63 a gal. we have a abundance of all of these so why are we handing out rebates instead of paying to convert every auto to run off of these alternatives? Why are no congressmen, or presidential contenders talking about it? http://www.green-trust.org/2000/biofuel/batesmethane.htm
http://www.cdnauto.org/propane_or_natural_gas.asp
http://gas2.org/2008/04/29/natural-gas-cars-cng-fuel-almost-free-in-some-parts-of-the-country/

[nothappyatall]

In 1980 Fed min wage was $3.10/hour, with that 12-1/4 hours of pay could buy a barrel of oil for home heating.

In 2007, minimum wage was raised to $5.85 /hour, but even with the now bargain price of $100/barrel, it would take over 17 hours of work to buy one barrel of heating oil, or make that over 22 hours to buy it at todays $130

$3.10 in 1980 is equiv to $8.75 today (2007)

What cost $5.85 in 2007 would cost $2.07 in 1980.

[brianbwb-2009]

"The problem is that computers have become so cheap, that even stupid people have them." Posted by tracymoorgan

Well, with that statement, at least we know you are not borrowing yours...

[rudy654-2009]

When I was kid, we had geothermal heat from natural hot water in the ground. It was a real savings.

[navalretgy]

There is no doubt that the world is being raped to the point that all the money the oil companies and Opec is stock piling is to get what they can while they can. There is still so much oil to be had and they know that if they don''t get it now from their own reserves they won''t be able to get it later.

[rudy654-2009]

Masters blames it on a new class of speculators led by pension funds and university endowments, which are buying up huge amounts of oil, nearly 850 million barrels more a year than they did just 5 years ago. That nearly matches the growth in Chinese demand, which is often blamed for rising crude prices.
***********

So why don''t they provide more information on this new class of speculator? We want names and addresses. Let''s have a chat with em!

[erasmus81]

Doesn''t anybody have Natural Gas heat down there?

[ontheleft]

''there''s "a disconnect" between normal supply and demand ''

That''s true. OPEC is producing enough to meet demand and they''re not even running at full capacity. The cost to produce oil is nothing compared to what is being charged. The prices are artificially high.

[nothappyatall]

newsterl1
We had an ice storm and lost power for a week in Misouri. (another reason i like Thailand it never gets cold here) We used the fireplace for heat for a week, having to wake up every two hours to put more wood on the fire. We survived but didn''''t feel like the fireplace provided any heat. Your right they look romantic in the movies but makes you wonder how our ancestors survived with only fireplaces for heat.

Posted by ranger1948

I feel your pain... fireplaces only feel warm because of the radiant heat on you, they lose as much as they put in- the heat gets sucked right back out and it pulls cold air in thru every crack, gap and loose window unless one has a modern glass front style... preferably with outside air brought into the fire pit from outside rather than the room air.
Otherwise you cant close the damper until the fire is COMPLETELY out, meanwhile it sucks the heat out.

Worse than that, imagine how they did with no INSULATION in the walls or attic and loose fitting single pane double hung windows.


Ahhh but I have fond memories of the steam heat in our apartment building coming up early in the morning accompanied by the pinging, hissing and ticking noises as it heated up the pipes and radiators. Nothing like steam heat, but when the boilers in the building used 5,000 gallons of fuel oil a WEEK that could be real expensive now! Heating oil in 1980 was around $38 a barrel

[erasmus81]

What''s the matter, donnie? Don''t want to fight with a girl? That is just because you know that I will win!:)

[nothappyatall]

Exploration on national land requires a lease, so the American people (US govt) gets paid rent by the oil company.
Posted by tracymoorgan

YEP, but have you CHECKED exactly how much those leases bring IN? I seem to remember similar public land leases for mining minerals and the like were going for around $5 an acre a year or some ridiculously low amount

[rudy654-2009]

Posted by tracymoorgan at 01:11 AM

Like you for example, stupid. Lots of Limbaugh in you yet. How was the meetin at the burning cross tonight?

[rudy654-2009]

Bull! Go to Nigeria and see what a wasteland they''re leaving there. They produce a barrel of oil at only 13 dollars and will soon be getting 200 dollars for the same barrel.

[tracymoorgan]

The problem is that computers have become so cheap, that even stupid people have them.

[tracymoorgan]

The rent is a percentage of the oil produced. There are terms in the leases that require restoration of habitat.

[rudy654-2009]

Lots of ignorance out there.


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Posted by tracymoorgan at 01:00 AM

Yeah right, stupid. They get to lease it and ruin cheap, we get to pay for it expensive. No idiot, time to nationalize.

[tracymoorgan]

There is no correlation between the price of oil and the price of electricity or propane.

[tracymoorgan]

Exploration on national land requires a lease, so the American people (US govt) gets paid rent by the oil company.

Lots of ignorance out there.

[ranger1948]

You can blame Jimmy Carter for deregulating gas prices. I don''t know what he was thinking when he did that.