OPEC-Oil could hit $200 a barrell

[Bulldogcakes]

Story
(http://www.ft.com/cms/s/0/4200dc9e-1521-11dd-996c-0000779fd2ac.html?nclick_check=1)

He told El Moudjahid, Algeria’s government newspaper: “I don’t think that an increase in production would help lower prices, because there is a balance between supply and demand and the stocks of gasoline in the United States have recorded a surplus and are at their highest level for five years.”

He added: “The prices are high due to the recession in the United States and the economic crisis, which has touched several countries, a situation that has an effect on the value of the dollar. Each time the dollar falls 1 per cent, the price of the barrel rises by $4 and of course vice versa.”



He happens to be right about that. The weak dollar is a big cause of many commodities skyrocketing, including gas.

All of this would mean if you think gas is expensive now, try doubling it.

[JPMNICK]

I hope not, when oil touched 119 a barrel I bought an ultrashort ETF that tracks oil prices. i am hoping the dollar strengthens and it drops to 100 a barrel. i collect my 38% and then take a long bet on it.

[Gvac]

Where's the old American fighting spirit? Doesn't anyone remember the Boston Tea Party?

We should start dumping barrels of oil into the ocean.

That'll teach 'em.

[RoyMunson]

we are... fucked
http://www.reuters.com/article/businessNews/idUSN2847461420080428

[K.C.]

We should start dumping barrels of oil into the ocean.

That'll teach 'em.

http://www.oilism.com/oil/wp-content/uploads/2007/12/oilspill0.jpg

[AnnoyedGrunt]

Good, I bought a bunch of barrels back when they were $50. Time to cash in!

[HBox]

Where's the old American fighting spirit? Doesn't anyone remember the Boston Tea Party?

We should start dumping barrels of oil into the ocean.

That'll teach 'em.

Oh we are. See all those Hummers and massive SUVs driving around? Pretty much the same thing.

[furie]

$10?!? (http://www2.nysun.com/article/75363)

[Dougie Brootal]

jesus christ! why cant anyone do anything about this? this fucking absurd!

[FUNKMAN]

big deal, people go to major sporting events and pay 5 dollars for a 15 cent hot dog. everyone is asking to take it up the ass and willing to pay for it

why should gas be any different?

[Dougie Brootal]

big deal, people go to major sporting events and pay 5 dollars for a 15 cent hot dog. everyone is asking to take it up the ass and willing to pay for it

why should gas be any different?

i dont like your attitude mr.! :nono:

[TooLowBrow]

big deal, people go to major sporting events and pay 5 dollars for a 15 cent hot dog. everyone is asking to take it up the ass and willing to pay for it

why should gas be any different?

its nice to realize that a gallon of gas is still cheaper than a hotdog

[topless_mike]

jesus christ! why cant anyone do anything about this? this fucking absurd!

the govt can. they can keep taxing the oil companies which, in turn, increases costs.

[topless_mike]

its nice to realize that a gallon of gas is still cheaper than a hotdog

talk to me spring '09 at yankee stadium.

[Devo37]

the govt can. they can keep taxing the oil companies which, in turn, increases costs.

actually, about 20% of the cost of a gallon of gas is tax. add to that the almost $20 billion in subsidies the government gives to oil companies, and we're basically paying for our own rape, while the government pretends to care, and the oil companies post the highest profits in the entire history of human civilization!!!

the gas costs, in turn, make every single item delivered by any vehicle that uses oil cost more, which is passed along to us consumers again! how many times can we pay for the same essential resource?!?

it's absurd, indeed!!!

[Drunky McBetidont]

http://www.johnsblog.com/images/road-warrior.jpg

[Drunky McBetidont]

actually, about 20% of the cost of a gallon of gas is tax. add to that the almost $20 billion in subsidies the government gives to oil companies, and we're basically paying for our own rape, while the government pretends to care, and the oil companies post the highest profits in the entire history of human civilization!!!

the gas costs, in turn, make every single item delivered by any vehicle that uses oil cost more, which is passed along to us consumers again! how many times can we pay for the same essential resource?!?

it's absurd, indeed!!!

i wondered why i have felt so dirty lately:huh:

[SatCam]

its nice to realize that a gallon of gas is still cheaper than a hotdog

actually the hotdog comes with a gallon of gas too!

[Fallon]

big deal, people go to major sporting events and pay 5 dollars for a 15 cent hot dog. everyone is asking to take it up the ass and willing to pay for it

why should gas be any different?

GO BACK TO RUSSIA!!

[TooLowBrow]

actually the hotdog comes with a gallon of gas too!
top of the comedy pyra.....

GO BACK TO RUSSIA!!
back to the start guys

[Knowledged_one]

What should be done is that if oil goes up then the US should stop sending out foreign aid to other countries

[HBox]

What should be done is that if oil goes up then the US should stop sending out foreign aid to other countries

THAT'LL TEACH EM TO NOT HAVE ENOUGH OIL!

[Knowledged_one]

No but that will teach them to up the cost of $200 a barrell

If oil gets that high its survival of the fittest and teh felted countries get the short shrift

[Jujubees2]

$10?!? (http://www2.nysun.com/article/75363)

jesus christ! why cant anyone do anything about this? this fucking absurd!

They're trying but I guess Jesus isn't listening (quoted from the above link):

Gasoline nationally is in an accelerated upswing, having jumped to $3.58 a gallon from $3.50 in just the past week. In some parts of the country, including New York City and the West Coast, gas is already sporting a price tag above $4 a gallon. There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, and an Arco gas station in San Mateo, Calif., has already raised its price to a sky-high $4.62.

[Dougie Brootal]

They're trying but I guess Jesus isn't listening (quoted from the above link):

Gasoline nationally is in an accelerated upswing, having jumped to $3.58 a gallon from $3.50 in just the past week. In some parts of the country, including New York City and the West Coast, gas is already sporting a price tag above $4 a gallon. There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, and an Arco gas station in San Mateo, Calif., has already raised its price to a sky-high $4.62.

god damn you, jesus!

[Knowledged_one]

I blame Jeebus or maybe Joe Torre im not sure

[Jujubees2]

The ironic thing is that people spend $1.00 on a 12-oz bottle of water (which translates into over $10 a gallon) and $3-4 for a cup of coffee (which would translate into $30-40 a gallon) and I paid $3 for a half-gallon of OJ last week (it was on sale).

I say let the price continue to rise until this country realizes it has to do something other than look for more places to drill for oil.

[Knowledged_one]

yeah like nuclear power

are you telling me france can get 80% of its power from nuclear power but we cant build any plants, that is a joke

[Thebazile78]

yeah like nuclear power

are you telling me france can get 80% of its power from nuclear power but we cant build any plants, that is a joke

I just read that parts of Europe may be going back to coal. (http://www.nytimes.com/2008/04/23/world/europe/23coal.html?ref=europe) (OK, so the article mentions Britain, the Czech Republic, Italy and Germany, but you never know about the French.)

[Team_Ramrod]

jesus christ! why cant anyone do anything about this? this fucking absurd!

I am!

I'm working in the Oilsands.

$200/ barrel means more expansion by the oil companies to cash in on the high prices.

More expansion means more work... More work means more money...

I just got a hard on.

[Knowledged_one]

I just read that parts of Europe may be going back to coal. (http://www.nytimes.com/2008/04/23/world/europe/23coal.html?ref=europe) (OK, so the article mentions Britain, the Czech Republic, Italy and Germany, but you never know about the French.)

I just figure that the french would surrender the nuclear power to coal anyway

[scottinnj]

No, the French just burn radiated natives of the Bikini Atoll.