OPEC says oil should be $60/$70 barrel...

Discussion in 'The Powder Keg' started by Marine1, May 28, 2008.

  1. Marine1

    Marine1 G&G Newbie

  2. Sooner Shooter

    Sooner Shooter G&G Newbie Forum Contributor

    Sure would be nice but I don't think we'll ever see it go down below $3 again. Why would they lower the price when they can get us to pay what it is now with no evidence of us changing our driving habits or changing the types of vehicles we drive. Drivers changed to diesel pickups for better gas mileage and now that they're are more diesel pickups on the road they upped the prices.
    About 2 billion additional barrels of oil need to be produced each year before any form of competition can exist. Why would they build new refineries when they can make windfall profits like this. We're just getting a good ole Royal you know what and I don't think it's going away. I know they're are many opinions about the oil prices and I may be wrong but I still think they have us by the boys anyway you look at it.

  3. TXplt

    TXplt Gun Toting Boeing Driver Forum Contributor

    If all the taps were open, I think we'd probably see oil prices moderating in the $80/bbl range--that is, if the US began using its resources to compete with OPEC (russia as well). Not much lower, and we're using it up. Oil is borrowed time; time to use and exploit--time to act for other energy sources as well.
  4. toolman

    toolman Resident Sasquatch Forum Contributor

    My question is, why in the HE** are we still exporting oil? Why don't we keep it all here and cut imports?
  5. TXplt

    TXplt Gun Toting Boeing Driver Forum Contributor

    Toolman, respectfully, you can't really keep oil from being sold on the Global market. You can try, but the black market will undercut your efforts. As will oil futures markets. Unless we elect for a dictator and socialist economy (which, given our gov't track record would result in gas lines and $10/gal gas), the market (not the gov't or even oil companies) sets the price. It sucks, but it's true.

    If we opened up drilling in ANWR, and everywhere in the US, you'd see price drop. OPEC would fall apart, 'cuz they know we and the soviets have oil. Just like in "Trading Places" it'd be "Mortimer, sell, sell, sell...." Unfortunately, that's how oil markets work--they're not that rational. Our proceeds (via state taxes on the oil, which is the legitimate resources of the citizens of the state) would be directed toward both a dividend for the state where the drilling occurs, as well as building new nuclear breeder reactors which will deliver us from this "evil."
  6. toolman

    toolman Resident Sasquatch Forum Contributor

    I understand your point, but what good is upping production in the U.S. when we're just going to export it and continue to buy inflated oil from OPEC? We've created this mess and now we're having to deal with the consequences, or as my mom would've said, "The chickens are coming home to roost".
  7. TXplt

    TXplt Gun Toting Boeing Driver Forum Contributor

    We get the $, we build the power plants and we're strong again !

    Maybe I'm a dreamer sir..............

    but the plane did hold together despite a typhoon :)
  8. Question ? Our Goverment was going to increase fuel tax's a couple of months ago.

    Does anyone know if they did ?
  9. lefty o

    lefty o G&G Evangelist

    the fed gas tax did not increase, however here in the beutiful land of MN, ours did go up.
  10. Lng Rng

    Lng Rng G&G Newbie

    Gotta love our new Legislature, huh, Lefty?
  11. dhermesc

    dhermesc G&G Evangelist

    If the dollar hadn't lost half its value thats about where oil would be right now. Do we blame OPEC for deficet spending in the US? :kiss:
  12. KGunner

    KGunner G&G Evangelist

    ANWR has so much economically recoverable oil in just a .01% area of ANWR than the rest of the US has left combined. But we can't drill there, because the enviro-nazis are doing a great job scaring everyone it would be bad for that environment. The facts state very clearly otherwise.
  13. They produce it for 6-7.00 a barrel. Your corner store can only make .02 cents a gallon on it. Quick class, how much are the oil companies making on it? They need to take a portion of all their profits just like they do when you buy hunting supplies to rebuild the infrastructure of the nation with American workers. Taking the gas tax away is only a drop in the bucket compared to the higher prices today. It is price manipulation by blaming a port out here, a rig offline there, a storm coming in or something to keep the price artificially high. I don't care how high prices are in England, I want them lower here. These CEO's try that in China and they would be executed.
  14. Rave

    Rave G&G Evangelist

    "Stay the course!"
    "Bring 'em on!"
    "Some times big business trumps peace!"
    We might as well forget ending deficit spending.:fart: