$105 oil

[Lazarus]

Originally Posted by Arminius

My predictions are always wrong, so I'll go along with you.

However, a couple of American and Europeans oil investors are predicting oil will go to $70-90 later this year (when? I do not know) before going to record highs, never to return for 20 years (no predictions were made after that).

Probably around election time

[tasdrouille]

It's getting ridiculous. Oil hit a new record this morning and they said it was attributed to speculation due to some tanker being hijacked near Japan.

I'm seriously thinking about manipulating prices by sinking a lifeboat with a barrel in it and spreading the news...

[AndrewJ]

Originally Posted by tasdrouille

It's getting ridiculous. Oil hit a new record this morning and they said it was attributed to speculation due to some tanker being hijacked near Japan.

I'm seriously thinking about manipulating prices by sinking a lifeboat with a barrel in it and spreading the news...

Or hold a barrel of oil hostage


But yeah, the wild excuses for oil prices are getting downright funny. It seems that people will go to extreme lengths to exclude the possibility that we've passed the peak in world oil production.

[Peakster]

Here in Regina, we just reached our record high from last year today. And it's only April! A litre of regular unleaded now sells for $1.279 ($4.86 a gallon).

And I haven't filled a gas tank since February

[igo]

Oh, I guess oil hit a new record of over $119. I almost missed this one. US average gas price is up to $3.538 average according to gasbuddy.com

I wonder what tomorrow will bring.

http://ca.reuters.com/article/busine...D3274320080422

Blah, Blah: supply worries/ weakening dollar

[Arminius]

Depressing. In the meantime China has joined with Cuba to drill for oil off the coast of the Keys, but we can't do it because the government has tied our hands. Same thing near Alaska. Of course, we can't do it because of environmental concerns. I guess we'll just have to trust China. Happy Earth Day!

[Otto]

Originally Posted by Arminius

Depressing. In the meantime China has joined with Cuba to drill for oil off the coast of the Keys, but we can't do it because the government has tied our hands. Same thing near Alaska. Of course, we can't do it because of environmental concerns. I guess we'll just have to trust China. Happy Earth Day!

Yep. Mega oil available for drilling in Cuban waters, but it will be China getting it, no us. RIP Monroe Doctrine, thanks to Bush and the Cuba lobby.

[LostCause]

Long-term destruction to fuel a short-term addiction? I'll gladly let China bear that moral dilemma.

I salute high gas prices. I say higher, higher, HIGHER...until the nation cracks. Addiction sucks, but the only reason many stave off addiction is because it becomes too expensive/consuming.

It's a tough situation...I want to break my addiction, but I'm fearful of the alternative. Change, however valid and needed, is often painful. In response, I say suck it up and do what's right. Destroying one of the world's last wildernesses to prolong a bad lifestyle is not right. Big/Middle Eastern Oil is not the issue, we are.

Happy Earth Day

- LostCause

[Arminius]

Originally Posted by LostCause

Long-term destruction to fuel a short-term addiction? I'll gladly let China bear that moral dilemma.

I salute high gas prices. I say higher, higher, HIGHER...until the nation cracks. Addiction sucks, but the only reason many stave off addiction is because it becomes too expensive/consuming.

It's a tough situation...I want to break my addiction, but I'm fearful of the alternative. Change, however valid and needed, is often painful. In response, I say suck it up and do what's right. Destroying one of the world's last wildernesses to prolong a bad lifestyle is not right. Big/Middle Eastern Oil is not the issue, we are.

Happy Earth Day

- LostCause

I agree with most of what you say; however, the moral dilemma is more complex than that, as far as I'm concerned. Most of my family lives and does business in Asia, and half of them are Asians, so I speak with the the particular type of prejudice a person with some experience can have when I say that I'd rather have the money in the hands of the USA than China. This is because the welfare of the world is better off in the hands of the USA. Money will determine who has the most influence, and China isn't building up its military arsenal to fend off any of the puny countries that are within 10,000 miles of it, nor are they known for their compassion for their own people. They are concerned that a particular country with a huge amount of power is a someone they will have to reckon with in the future, because that particular country wants freedom and stability for all the countries in that region. China doesn't.

Additionally, In the end, demand in China or the US is not affected by who gets the oil. If the China gets 10 billion barrels of oil, it will buy that much less, and there will be that much more on the market. The same goes if the US gets the oil. However, the profits will go to the country that recovers the oil.

Keep your friends close, and your enemies closer.

[Chris D.]

heard on the news a barrel went for 121..