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Oil Could Spike To $105 A Barrel  
User currently offlineHavaloc From United States of America, joined Feb 2005, 79 posts, RR: 0
Posted (9 years 6 months 3 weeks 4 days 6 hours ago) and read 5490 times:

http://uk.biz.yahoo.com/050331/323/ffes2.html

Goldman sees oil price 'super spike' to $105 a barrel - UPDATE 3

NEW YORK (AFX) - Oil prices have entered the early stages of trading that could lead to a 'super spike' with the potential to move prices to $105 per barrel, enough to meaningfully reduce energy consumption, according to a Goldman Sachs analysis.
The call, which would mean a possible doubling of oil prices from their current level, sent crude back above $55 per barrel for the first time in a week. The contract for May delivery was last quoted up 2.4 percent at $55.30, having earlier touched a high of $55.55.
'The strength in oil demand and economic growth, especially in the United States and China, following a year of $40-$50 per barrel WTI oil has surprised us... The reason for this adjustment in view is that persistent high prices are improving the financial position of key oil exporting countries and could serve to keep potential revolution at bay,' said analyst Arjun Murti.
Phil Flynn, senior market analyst at Alaron.com, said $105 oil is technically possible but not likely for at least 3 years and only if a major supply disruption, such as a halt to imports from Saudi Arabia, occurred.
'The timing of the report was conducive to the rally,' Flynn said. 'It's just another reason to be long. There's no doubt we're in a new bull market for crude oil.' Hear audio interview.
John Kilduff, energy risk analyst Fimat USA, agreed that the $105 price assumes a major supply disruption in Saudi Arabia or a Venezuelan embargo on shipments to the U.S.
'I don't know how they get to that number, short of a significant supply disruption event occurring,' he said.
'It's more reflective, to be fair, of the psychology of the energy market right now that there's going to be tremendous demand growth in the late third and the fourth quarter of this year. That's going to put the producers of crude oil in an extremely challenging position in terms of meeting that demand, and that's what is being priced in right now.'
Analyst Kevin Kerr of Kerr Trading International said the Goldman call was irresponsible and 'clearly an attempt to talk up the market on nothing more than hot air. Goldman has huge speculative energy positions and they have no interest in watching it go down right now.'
Goldman's previous 'spike' high for oil was $80 a barrel. The brokerage also raised spot forecasts for WTI spot oil - West Texas Intermediate spot oil, the benchmark crude that trades daily on the New York Mercantile Exchange -- to $50 for 2005 and $55 for 2006. Its previous forecasts were $41 in 2005 and $40 in 2006.
Murti also said earnings consensus for oil and gas companies ought to grow by 21 percent and 35 percent, respectively in 2005 and 2006, as those stocks stand to outperform the broader market.
The return could be 80 percent if prices hit a super spike, he said.
Murti recommends adding to positions in the oil sector 'at current prices, on a pullback, or even after rallies,' and raised 2005 and 2006 earnings estimates across the board.
His top picks in the sector continue to be Exxon Mobil (NYSE: XOM - news) , Amerada Hess (NYSE: AHC - news) , Bill Barrett Corp (NYSE: BBG - news) . , Devon Energy (NYSE: DVN - news) , EnCana Corp. , Murphy Oil (NYSE: MUR - news) , Newfield Exploration (NYSE: NFX - news) , Pioneer Natural Resources (NYSE: PXD - news) , Premcor , Questar Corp (NYSE: STR - news) . and Suncor Energy .
This story was supplied by MarketWatch. For further information see www.marketwatch.com


DC-9
57 replies: All unread, showing first 25:
 
User currently offlineNomoreRJs From United States of America, joined Sep 2004, 509 posts, RR: 0
Reply 1, posted (9 years 6 months 3 weeks 4 days 5 hours ago) and read 5459 times:

Goldman is part of the Wall Street group bidding up the price. Look at the US inventory data over the last two weeks, biggest supplies of crude in years. The market is way over priced. The market is a joke.

User currently offlineIndy From United States of America, joined Jan 2005, 4570 posts, RR: 18
Reply 2, posted (9 years 6 months 3 weeks 4 days 5 hours ago) and read 5419 times:

I think it was late 1999 or 2000 when oil was so cheap that you could get premium unleaded gas for around $0.89. I find it highly unlikely that the demand has changed so greately in just 5 years that the price would better than double when it had been increasingly at a reasonable rate for decades prior. Just makes you suspect market manipulation by traders to drive up the price to an unreasonable level. I find myself looking around for another Enron.


Indy = Indianapolis and not Independence Air
User currently offlineAtmx2000 From United States of America, joined Oct 2004, 4576 posts, RR: 37
Reply 3, posted (9 years 6 months 3 weeks 4 days 5 hours ago) and read 5364 times:

I think it was late 1999 or 2000 when oil was so cheap that you could get premium unleaded gas for around $0.89.

Well the US has been buying cheap Chinese goods at an ever increasing amount per year for the last decade. Those dollars are being used to buy fuel.



ConcordeBoy is a twin supremacist!! He supports quadicide!!
User currently offlineFlying-Tiger From Germany, joined Aug 1999, 4165 posts, RR: 36
Reply 4, posted (9 years 6 months 3 weeks 4 days 5 hours ago) and read 5343 times:

@ Indy: typical american point of view from someone who doesn't look over the Tellerand.

Demand HAS changed dramatically in the past 5 years, with India and especially China coming on-stream in terms of oil & gas demand. Cina has grown by about 8-10% in the past 5 years, and energy demand is usually growing at a higher pace than the GDP growth. Oil production is currently running at about 95-99% of capacity, and there is only a very marginal amount of capacity reserve at the moment. Same goes for the tanker capacity: find any tanker idle at the moment... good luck in doing so. Reflected by the extremly low number of tankers going out of the market for scrap.

Bottomline: when the demand increases, the prices increase accordingly. And as there is not enough supply at the moment, the prices are going up. 105$ might still be some way off - but it is not too unreasonable if demand is continuing to grow at the current level.



Flown: A319/320/321,A332/3,A380,AT4,AT7,B732/3/4/5/7/8,B742/4,B762/763,B772,CR2,CR7,ER4,E70,E75,F50/70,M11,L15,S20
User currently offlineIndy From United States of America, joined Jan 2005, 4570 posts, RR: 18
Reply 5, posted (9 years 6 months 3 weeks 4 days 5 hours ago) and read 5309 times:

Its not my fault your country rips you off with incredible taxes on gas  Smile

I was in Germany 2 weeks ago. You guys really should be complaining the way you get ripped off at the pump. $80 to fill up a car? What a joke. Yes the demand has gone up but not enough to justify a price increase of well over 200%.



Indy = Indianapolis and not Independence Air
User currently offlineArt From United Kingdom, joined Feb 2005, 3382 posts, RR: 1
Reply 6, posted (9 years 6 months 3 weeks 4 days 5 hours ago) and read 5303 times:

Quoting Atmx2000 (Reply 3):
Well the US has been buying cheap Chinese goods at an ever increasing amount per year for the last decade. Those dollars are being used to buy fuel.

And to buy US govt bonds. I hear that China is shaping up to become USA's biggest creditor. The fortunes of both countries are becoming intertwined.


User currently offlineFlying-Tiger From Germany, joined Aug 1999, 4165 posts, RR: 36
Reply 7, posted (9 years 6 months 3 weeks 4 days 4 hours ago) and read 5252 times:

I've no problem with fuel prices this high - remembers me that I still can drive a car which uses only 3.5 liters per 100km with decent comfort and speed, and that I don't really need an SUV for one person only, as it seems to be a necessity in other nations.

Okay, then lets add in the strong in crease of SUVs on the US roads, the increase in the world aircraft fleet, the amount of new ships added over the past 5 years, the economic growth in other parts of the world, the acutual production decrease in some major O&G production regions such as the North-Sea, the unnecessary Iraq war which still demands a risk premium as it has destabilized the most important O&G region... and so on. Enough reasons for a 200% price increase.



Flown: A319/320/321,A332/3,A380,AT4,AT7,B732/3/4/5/7/8,B742/4,B762/763,B772,CR2,CR7,ER4,E70,E75,F50/70,M11,L15,S20
User currently offlineTedTAce From , joined Dec 1969, posts, RR:
Reply 8, posted (9 years 6 months 3 weeks 4 days 4 hours ago) and read 5220 times:

Quoting Flying-Tiger (Reply 4):
Reflected by the extremely low number of tankers going out of the market for scrap.

My Impression is that the only reason Tankers are 'going to scrap' these days is that they do not meet international standards for doublelining and other required safety features.

Gas is getting out of hand, India and China are not helping the matter at all, but it's not their fault we are giving them all our money with outsourcing, and Walmart consumerisim. (I am as guilty of the latter as everyone else in the US)

We need to get over our "big Texas" attitude, and downsize our vehicles, and cut our consumption/emissions. I don't want to sound like some tree hugging fruit loop, as I know I am, but I think the sooner we realize the well has to run dry eventually, the better.


User currently offlineBjg231 From United States of America, joined May 2004, 163 posts, RR: 0
Reply 9, posted (9 years 6 months 3 weeks 4 days 4 hours ago) and read 5218 times:

Funny how no one has mentioned OPEC and that lovely Venezuelan president Hugo Chavez as responsible for any price increases.


If at first you don't succeed, then skydiving is not for you.
User currently offlineAerofan From United States of America, joined Aug 2004, 1517 posts, RR: 2
Reply 10, posted (9 years 6 months 3 weeks 4 days 4 hours ago) and read 5175 times:

and when oil hits $105. only EK and Eithad will be left standing.

User currently offlineArt From United Kingdom, joined Feb 2005, 3382 posts, RR: 1
Reply 11, posted (9 years 6 months 3 weeks 4 days 4 hours ago) and read 5161 times:

Quoting Flying-Tiger (Reply 7):
Enough reasons for a 200% price increase.

Gasoline is price inelastic - eg increase the price by 10% and demand falls by less than 10%. It's very price inelastic - you could double its price in many countries and demand would probably not fall very much. Perhaps crude needs to triple or quadruple in price before consumers in some countries will address the problem of their profligate use of fuel.


User currently offlineByrdluvs747 From United States of America, joined Jul 2004, 2370 posts, RR: 1
Reply 12, posted (9 years 6 months 3 weeks 4 days ago) and read 5015 times:

"Funny how no one has mentioned OPEC and that lovely Venezuelan president Hugo Chavez as responsible for any price increases."

Don't blame the dealers for your addiction. It's their oil. They can sell it for whatever they want.



The 747: The hands who designed it were guided by god.
User currently offlineAAFLT1871 From United States of America, joined Dec 2004, 2333 posts, RR: 10
Reply 13, posted (9 years 6 months 3 weeks 4 days ago) and read 4995 times:

Anybody want to give me a hand nailing the coffin lids shut on a few U.S airlines?


Where did everybody go?
User currently offlineZvezda From Lithuania, joined Aug 2004, 10511 posts, RR: 64
Reply 14, posted (9 years 6 months 3 weeks 4 days ago) and read 4989 times:

The biggest unknown in the price of oil ten years from now is the extent to which China and India will build nuclear power plants. If they burn petroleum to generate much of their electricity, then oil will be very, very expensive.

User currently offlineCloudy From , joined Dec 1969, posts, RR:
Reply 15, posted (9 years 6 months 3 weeks 3 days 23 hours ago) and read 4948 times:

The biggest unknown in the price of oil ten years from now is the extent to which China and India will build nuclear power plants. If they burn petroleum to generate much of their electricity, then oil will be very, very expensive.
----

The use of petroleum to generate electricity is not a major factor in demand for the stuff. When fossil fuels are used for electricity, it tends to be coal or natural gas(natural gas is a seperate product with a seperate market). Oil fired power plants are relatively rare and are used in niche applications. The main consumer of oil products is motor vehicles. In India, China, and other growing economies the first thing many people buy when they achieve a "middle class" income is a car. Also, it takes fuel to move all the goods that come from a growing economy.

There is no shortage of the stuff in the ground. The main problem is that the stuff has been relatively cheap for so long, and so there has not been as much incentive to drill it or refine it. That is changing now but it will take time for the new wells and refineries to come on line. Speaking of refineries, environmental regulations have made it all but impossible to build new ones in the US and many other places, leading to a shortage of refinery capacity. Another reason the US prices are so high is that every city and state seems to feel the need to require a different blend of gas. This drives costs up by putting more stress on refineries and by de-commoditizing the market. This patchwork of regulations also leads to gas being much more expensive in some places than in others.

The reason some products like gas seem to go up and down so much in price is because producing them requires high capital costs. This means that capacity is expensive and takes a long time to build. Prices can go up and down dramatically because it is more difficult for producers to adjust to demand than it is in other industries. It is not because the oil companies, station owners, or other boogiemen are out to rip you off. If you think the oil men are the bad guys you can get into the business yourself or buy stock in an oil company and join them. It isn't fun, because you can loose a lot of money this way. Oil companies can make a lot of money in these times, but they can also loose a ton of it if the guess wrong about the market. Gas station owners operate in such a competive market that few of them can make much money on gas. Most of their money is made on repairs, food, etc. Anyone who tells you they are gouging us is simply ignorant.

IN SHORT.... Don't blame the power companies, gas station owners, oil companies, etc. for gas prices. They do what the market(and thats you and me) tell them to do. The growth of China and India plays a role but it isn't really fair to blame them when their per capita consumption is still much lower than ours. If you hate high gas prices, throw an environmentalist and a Chevy Suburban owner into a pit and make them fight to the death. More rationally, you could buy a smaller or hybrid vehicle and you could push for more uniform, rational regulation of the oil industry. This is becuase the main preventable reasons demand is so high is because people like big vehicles and they like to believe the doom-and-gloom stories of environmentalists.


User currently offlineSkydrol From Canada, joined Oct 2003, 974 posts, RR: 10
Reply 16, posted (9 years 6 months 3 weeks 3 days 23 hours ago) and read 4919 times:

Flying-Tiger wrote:

>>>
I've no problem with fuel prices this high - remembers me that I still can drive a car which uses only 3.5 liters per 100km with decent comfort and speed, and that I don't really need an SUV for one person only, as it seems to be a necessity in other nations.
<<<

I find comments justifying high fuel prices from Europeans (such as Flying-Tiger) to be totally amusing. Obviously, they are so narrow-minded that they haven't grasped the reality of the situation. Whether a car consumes fuel at 8 MPG or 30 MPG is not relevant if you don't own or drive one. Yet you are still affected from ever-inflating prices for everything from bus fares to home heating to groceries. I have seen prices for some common groceries increase by 35% in just three years, home heating costs are soaring. Once you have a high-efficiency furnace and a well-insulated and sealed house there is little you can do to reduce fuel consumption further, without moving to a warmer country than Canada. If fuel prices were to double from their current ridiculous level, worries about airline insolvency will be the least of society's worries:
This isn't about the big, bad SUV-driving Texan, this is revolution time folks.



And FYI, to those who keep spouting how efficient European cars are, compared to "inefficient" North American cars, read and learn something:

(average 2005 vehicle fuel consumption from Consumer Reports, European, American, Japanese)

Audi A4, 1.8L, 24 MPG
Audi A6, 2.7L, 16 MPG
Audi A8, 6.0L, 17 MPG
BMW 3-, 3.0L, 22 MPG
BMW 5-, 3.0L, 20 MPG
BMW 7-, 4.4L, 18 MPG
BMW X3, 2.5L, 17 MPG
BMW X5, 3.0L, 17 MPG
Mercedes E, 3.2L, 20 MPG
Mercedes S, 4.3L, 18 MPG
Volkswagen Jetta, 1.8L, 23 MPG
Volkswagen Passat, 2.8L, 21 MPG
Volkswagen Toureg, 3.2L, 15 MPG
Volvo V70, 2.4L, 18 MPG
Volvo S80, 2.9L, 19 MPG
Volvo XC90, 2.9L, 15 MPG

Buick Park Avenue, 3.8L, 21 MPG
Cadillac CTS, 4.9L, 19 MPG
Cadillac DeVille, 4.6L, 19 MPG
Chevrolet Impala, 3.8L, 20 MPG
Chevrolet Malibu, 3.5L, 26 MPG
Dodge Caravan, 3.8L, 17 MPG
Dodge Magnum, 5.7L, 19 MPG
Ford Explorer, 4.6L, 17 MPG
Ford Focus, 2.0L, 24 MPG
Ford Taurus, 3.0L, 22 MPG
Mercury Sable, 3.0L, 22 MPG
Pontiac Bonneville, 3.8L, 20 MPG

Honda Accord, 3.0L, 23 MPG
Honda CRV, 2.4L, 21 MPG
Mazda MPV, 3.0L, 19 MPG
Mazda Tribute, 3.0L, 18 MPG
Mazda 6, 3.0L, 20 MPG
Toyota Camry, 3.0L, 20 MPG
Toyota 4Runner, 4.0L, 16 MPG



∙ ---{--« ∙ ----{--« ∙ --{-« ∙ ---{--« ∙ --{--« ∙ --{-« ∙ ----{--« ∙
User currently offlineANstar From United Kingdom, joined Nov 2003, 5263 posts, RR: 7
Reply 17, posted (9 years 6 months 3 weeks 3 days 23 hours ago) and read 4905 times:

I think what people say is Europeans tend to drive smaller more fuel efficient cars ie 1.2-1.5l motors for getting around town, not 3.0l motors

User currently offlineSabenapilot From Belgium, joined Feb 2000, 2714 posts, RR: 47
Reply 18, posted (9 years 6 months 3 weeks 3 days 23 hours ago) and read 4896 times:

Quoting Skydrol (Reply 16):
Audi A4, 1.8L, 24 MPG
Audi A6, 2.7L, 16 MPG
Audi A8, 6.0L, 17 MPG
BMW 7-, 4.4L, 18 MPG
Mercedes S, 4.3L, 18 MPG
Volkswagen Toureg, 3.2L, 15 MPG

Whow, and you think these are average family cars?????
Audi A8, 6 (!) liter!!!!!
VW Touareg
Holly sh*t! I don't now who told you that, but as any European will tell you, We'd immediately turn our head when we see one of these pass through our neighbourhood, looking who might be inside!

Audi A3
Volkwagen Golf
Toyota Corolla
Nissan Almera
Daewoo Matisse
...
Those are the kind of cars we usually drive, yet I take it you don't even know how most of them look, because most of them aren't sold in the US.

[Edited 2005-04-01 10:01:00]

User currently offlinePipo777 From Venezuela, joined Jan 2005, 188 posts, RR: 2
Reply 19, posted (9 years 6 months 3 weeks 3 days 22 hours ago) and read 4847 times:

Quoting Byrdluvs747 (Reply 12):
"Funny how no one has mentioned OPEC and that lovely Venezuelan president Hugo Chavez as responsible for any price increases."

Don't blame the dealers for your addiction. It's their oil. They can sell it for whatever they want.

Bjg231, most of us know Chavez is an a**hole...but like Byrdluvs said you can't blame him for trying to get the oil prices as high as he can, because Venezuela highly depends on oil, as it accounts for roughly one-third of GDP...Now if that money somehow got to the Venezuelan people instead of the bank accounts of the corrupt politicians...


User currently offlineHa763 From United States of America, joined Jan 2003, 3663 posts, RR: 5
Reply 20, posted (9 years 6 months 3 weeks 3 days 22 hours ago) and read 4836 times:
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Quoting Sabenapilot (Reply 18):
Audi A3
Volkwagen Golf
Toyota Corolla
Nissan Almera
Daewoo Matisse
...
Those are the kind of cars we usually drive, yet I take it you don't even know how most of them look, because most of them aren't sold in the US.

All execpt the Nissan Almera are sold in the US/Canada. The Daewoo Matisse is sold here as the Cheverolet Aveo and the VW Golf has been sold in the US for many years. BTW, I drive a 2001 Toyota Corolla and the Corolla is one of the top selling small cars in the US.


User currently offlineSebolino From France, joined May 2001, 3681 posts, RR: 4
Reply 21, posted (9 years 6 months 3 weeks 3 days 22 hours ago) and read 4822 times:

Quoting Bjg231 (Reply 9):
Funny how no one has mentioned OPEC and that lovely Venezuelan president Hugo Chavez as responsible for any price increases.

It's funny how Americans are always trying to find responsibilty elsewhere. That's the fault of Saddam Hussein, Chavez or the Chinese, but not of the Americans and their incredibly huge overconsumption of gas (25% of the world's oil).


User currently offlineF9Animal From United States of America, joined Dec 2004, 5076 posts, RR: 28
Reply 22, posted (9 years 6 months 3 weeks 3 days 14 hours ago) and read 4627 times:

Quoting Sebolino (Reply 21):
It's funny how Americans are always trying to find responsibilty elsewhere. That's the fault of Saddam Hussein, Chavez or the Chinese, but not of the Americans and their incredibly huge overconsumption of gas (25% of the world's oil).

Hmmmmm. It's funny how the French are always making nasty comments about Americans. Truth is, the United States is much larger than France. In order for me to get to another job, sometimes I have to travel to another part of the country to do it. So I guess I overconsume to do my work? Nice comment bud.



I Am A Different Animal!!
User currently offlineThrust From United States of America, joined Sep 2003, 2690 posts, RR: 10
Reply 23, posted (9 years 6 months 3 weeks 3 days 13 hours ago) and read 4604 times:

If that super-spike is to happen, my family will be selling our minivan quite soon, I'll tell you that much. As for the airlines, UA probably will be near-death with that spike....somebody mentioned nuclear-powered aircraft earlier...that needs to be investigated and soon if allegations such as this turn out to be true. A super-spike in oil will obviously result in the deaths of several airlines....US, UA, CO, and DL could be killed....


Fly one thing; Fly it well
User currently offlineIMatAMS From Netherlands, joined Feb 2005, 317 posts, RR: 0
Reply 24, posted (9 years 6 months 3 weeks 3 days 13 hours ago) and read 4545 times:

Quoting Havaloc (Thread starter):
Oil prices have entered the early stages of trading that could lead to a 'super spike' with the potential to move prices to $105 per barrel, enough to meaningfully reduce energy consumption, according to a Goldman Sachs analysis.

Seems like a REALLY good moment to get into bicycle sales......


25 DAYflyer : I think the oil mongers are doing a nice job of it all by themselves. If this happens, SouthWest, Airtran and AA will be all that's left. At least it
26 A332 : I would hope the government in this country would ease up on some of the taxes they place on fuel... it accounts for a large portion of the price at t
27 Post contains images DAYflyer : An interesting comment from someone from France, considering everything in the eyes of your countrymen is always the fault of the USA. You guys needs
28 Cumulonimbus : I wonder If PropFans will be researched again? Maybe there will be large Turboprops flying domesticly one day? Just a thought. Mike
29 ZOTAN : I may be the only one here, but I cant wait to the day when oil finally runs out. THe air will be cleaner, there will be a HUGE revolution in the scie
30 Cumulonimbus : Zotan, I would have to agree!!! Mike
31 Ilsapproach : Oil companies reporting profits in excess of 50% the last two years!!! Also, the US gets it's largest supply of oil from Canada............followed by
32 Goingboeing : Hmmm---I've seen some SUV's pull away from the pumps in Kansas City with an $80 fill up.
33 ZOTAN : At least they drive cars and not some gas guzzling SUV.
34 CWAFlyer : I may be the only one here, but I cant wait to the day when oil finally runs out. THe air will be cleaner, there will be a HUGE revolution in the scie
35 JDD1 : DAYflyer An interesting comment from someone from France, considering everything in the eyes of your countrymen is always the fault of the USA. You gu
36 LH477 : There are alternative fuel sources available: Hybrid, Electric, Ethanol, all however quiet expensive, the one thing oil has going for it is that it's
37 JUANR : ZOTAN: as you've seen you are not the only one, now you at least can find 2 persons who agree with you on this issue. Juan SKBO
38 Swatpamike : You forgot WN. Cheers swatpamike
39 Penguinflies : I agree with ZOTAN. I bet there is someone out there working on how to use water as an energy source...
40 Post contains links JeffSFO : Oil was cheap in the U.S. in the late '90s partly because Bill Clinton opened up the National Strategic Oil Reserve to flood the market. Also, Russia
41 Zeekiel : I'm seriously sick of this stupid saying being floated around. Us down here in Australia and New Zealand are grateful that the U.S. came and defended
42 Post contains links 9844 : There are a few of you who know what your talking about..I have added a few links World Oil demand.In a chart format. Worry because if the US {a major
43 Post contains links Zeekiel : There are some refineries in the U.S. that can handle sour crude. But due to its high sulphur content, not many can handle it. I'm not entirely sure
44 9844 : Great copy. Yes that artical is on target. Those three refiners, net earnings and stock price are up strong. Studying demand charts both US and Global
45 Falcon84 : Like blaming the drug dealer for supplying it to you, my friend. The fault doesn't lie with those who have the oil-the same people who we ripped off
46 Milemaster : Many of you are just media brainwashed minions... The world has plenty of oil. According to the United States Geological Survey, the U.S. Department o
47 Skydrol : Milemaster, Unfortunately the idiot "speculators" that drive up the price of crude are the ultimate brainwashed minions. A good example of this was th
48 N79969 : If oil prices do reach that price level, the effect on the US airline industry would be like the meteor that killed off all the dinosaurs rather than
49 9844 : MileMaster has posted good in site. Those doom and gloom on OIL were wrong. Those were the days. I don't pretend to say there isn't enough OIL.Just no
50 Midway2airtran : People actually taste that stuff? :-P j/k!! The rise is a pain in the rear, however, not a crisis. Actually, compared to the inflation rate, we are s
51 ZOTAN : People will always fly, its the fastest and most efficient way of travel we know. Prices may get higher, but all the worlds airlines will never disap
52 AC7E7 : If oil ever hit $80, not only will people begin to cut down on energy consumption, but the U.S. government would threaten OPEC nations to increase pro
53 Lijnden : I agree with Milemaster! I believe that the oil wells will not dry up as soon as scentists and politicians want us to believe. Just another reason to
54 Post contains images JetSOUTHEAST : AAFLT1871, Yeah, I'll join ya. I hate to say it, but even the LCC's are going to take a serious blow if this happens. We might as well bury AA, CO, DL
55 Ckfred : After oil got to nearly $59 a barrel last week, it's now below $51. Just as Alan Greenspan said, what sent oil up can send it down. I also heard yeste
56 SATX : Environmentalists have been campaigning for decades for people to reduce their consumption of oil and other fossil fuels. It takes a complete moron to
57 Art : Agreed. It is interesting to hear your further comment: "Until the news media quits castigating environmentalists, mainstream Americans will never ta
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