Comments on: Weak Dollar Pushes Oil Prices Higher

Investors Shrug Off Saudi Promises To Boost Production And Bid Oil Up To Near $140 A Barrel

[mcv57]

I keep correcting this but CBS will not cooperate:

"... and gobal government injustice and corruption has actually made it impossible for any recovery."

[bgwinnett]

Uncle Ben''s bluff got called it seems.

[mcv57]

Posted by dzapple

Not a hoax, just buying time.

I have been giving the gobal financial, social, and government senario some thought. It really does not matter at this point ... the world is in a collision course with war and destruction.

Trillions of dollar of debt (somewhat stablized due to Iraq''s embezzlement of resources), the rise of social unrest (poverty, greed, and immorality), and gobal government injustice and corruption has actually made any real change of recovery.

Let say that hit a bonaza of oil reserves in Alaska, and the Hydrogen Car goes into mass production. The three headed monster (G8) couldn''t control the perverse that has rooted in every corner of government and corporation - it would take years of legal manuvering and a Gobal Beast to purge its network and established a sole dictatorship.

So where does this senario lead: YES, WAR, WAR, WAR! I really don''t support NAZIS government, but Hitler had the right idea for such an imperfect and perverted world. Hitler, being human, allowed his lust to destroy himself - he attacked Russia much too soon. It is impossible to imagine this Beast would have succeeded - modern day Roman Empire with Nero at the throne.

It is sad, but I believe Jesus knew the nature of flesh and its power over this world. It must be reborn...

[bgwinnett]

Uncle Benny is going to have to come up with something that will back-up that Monopoly money or all this is going to be in vain, soon.

Posted by mcv57 at 06:56 PM : Jun 16, 2008

He has, NYC skyscrapers. LOL

[feelfree4u]

Re: "Weak Dollar Pushes Oil Prices Higher"

Wow!

It only took CBS several YEARS to figure this out.

[dobbershome]

Where have I heard this before?

[dzapple]

The U.S. mandate for ethanol as a gasoline additive has already significantly put the world''s food supply in jeopardy, but most Americans are blissfully unaware that it requires 1.5 gallons of ethanol to produce the same energy as a gallon of gasoline. It actually emits more carbon dioxide than gasoline. It is an environmental hoax.
The world is afloat an ocean of oil. Meanwhile, the United States continues to rule 85% of its offshore oil off-limits to exploration and extraction. This is occurring while the Chinese prepare to pump oil just offshore of Cuba, a mere 90 miles from Florida. It is occurring while the Russians are looking to plant their flag on potential reserves of subterranean oil in the Arctic
The next time you hear a politician say we need to be "energy independent", ask him or her why Americans cannot have access to the oil reserves known to exist in California, in Alaska, and in many of our other States or off the coastlines of Florida and elsewhere.

[mcv57]

Weak Dollar? I guess Deficits DO matter after all.

Posted by skyk

Can you imagine the printing press speed pace, it''s almost as fast as the oil being pump-out of OPEC. Uncle Benny is going to have to come up with something that will back-up that Monopoly money or all this is going to be in vain, soon.

[dzapple]

Considering how much untapped oil is known to exist, not just in the United States, but worldwide, one would think that its current price was some kind of anomaly and it is.
For sheer insanity, however, consider a nation that has an estimated 31 billion barrels of oil offshore of its coasts and 117 billion barrels of oil under land owned or managed by the government, plus 139 billion barrels beneath privately held land.
In just one area, a desolate place designated a wildlife refuge, there''s an estimated 7.7 billion barrels untapped. The nation with this abundance of oil is, of course, the United States of America. Most of the areas where oil is known to exist have been ruled off-limits to any exploration or extraction by the government.
In the areas where it is accessible, drilling for it is hugely encumbered and often denied by the National Environmental Policy Act, the Clean Water Act, the Endangered Species Act, and the National Historic Preservation Act.
If, however, you connect the dots, you will have noticed by now that America''s energy problems, namely the price of a gallon of gasoline or heating oil, is making everyone miserable thanks in great part to environmental legislation designed to make it impossible to access oil on both public and privately held lands. Then, just to make matters worse, the government requires that every gallon of gasoline include the additive, ethanol, which reduces its mileage and increases its cost.

[dzapple]

With gas prices topping $4 a gallon and the idea of tapping into oil under the Arctic National Wildlife Refuge or the Outer Continental Shelf becoming more popular, liberal members of Congress are changing the basis for their opposition to drilling.
Opposition to opening up new drilling has traditionally focused on environmental concerns, but the chairman of the Democratic Congressional Campaign Committee on June 15 accused oil companies of not using what they already have.
When CNN host Wolf Blitzer asked "why not start drilling" in more U.S. areas "that could dramatically increase supply and as a result reduce the price per barrel or the price at the pump?" Blitzer noted that House Speaker Nancy Pelosi (D-Calif.) "votes against every one of these drilling propositions."

[dzapple]

If Bill Clinton had signed into law the Republican Congress''s 1995 bill to allow drilling of ANWR instead of vetoing it, ANWR could be producing a million barrels of (non-Opec) oil a day--5% of the nation''s consumption.
One of the first acts of the new Democrat-controlled congress in 2007 was an energy bill that "calls for a huge increase in the use of ethanol as a motor fuel and requires new appliance efficiency standards." By focusing on alternative fuels such as ethanol, and not more drilling, Democrats have added to the cost of food, worsening starvation problems around the word and increasing inflationary pressures in the U.S., including prices at the pump.
"The liquid hydrocarbon fuel available from American coal reserves exceeds the crude oil reserves of the entire world," writes Dr. Arthur Robinson in an article on humanevents.com. The U.S. has approximately one-fourth of the world''s known, proven coal reserves. Coal would be a proven, and increasingly clean, source of electric power and--at current prices--a liquified fuel that would reduce our dependence on foreign oil. Yet Dems and their enviro friends have fought, and continue to fight, both coal-mining and coal plants.
With consolidation in the oil industry, has come reduced competition. Remember, most of the major oil company mergers -- Shell-Texaco, BP-Amoco, Exxon-Mobil, BP-ARCO, and Chevron-Texaco -- happened on Clinton''s watch. The number of oil refiners dropped from 28 to 19 companies during Clinton''s two terms

[bradster999]

I am not sure investing in oil is such a good idea. Multi-millionair Richard Rainwater is selling off almost all his oil investments. Maybe he knows something we don''t. There are other factors that would also seem to indicate that the OIL bubble is about to burst. Saudi arabia is increasing oil output along with the United Kingdom and there is some talk of imposing regulations on oil commodities trading to stem big hikes is prices. Even the UN is worried about global sustainability with oil binging so high. Others keep bringing up india and China as an excuse for high prices but I don''t buy it. They subsidize oil and they won''t be able to keep doing that much longer at these prices. If I had any investments in oil right now I would sell them as fast as I could. But that''s just me. On our website we conducted a poll, asking the question "who do you think is to blame for high oil prices" over half say speculation is to blame. http://www.nbtv.ca

[skyk-2009]

Weak Dollar? I guess Deficits DO matter after all.