Airlinerfreak
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My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:28 am

My opinion is that this craziness we are seeing in the spike in oil prices will not stop until we hit $80 a barrel. I think that by the end of this year or the begging of '06 we will be seeing oil hitting $80 a barrel and wishing it was once back down at $2.00 a gallon.
 
KLMA330
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:31 am

I hope so... Will Bush parachute land on a refinery with a sign saying "Mission Accomplished, Oil Companies are now richer than ever???"
 
baylorairbear
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:32 am

Quoting Airlinerfreak (Thread starter):
My opinion is that this craziness we are seeing in the spike in oil prices will not stop until we hit $80 a barrel.

Why do you think this? I have no technical response, but I don't think it will get quite that high before next summer.

BaylorAirBear
I'm just skipping stones...
 
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TheRedBaron
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:34 am

80 sounds about right, no more stupid 2.5 ton SUVs....welcome to reality....
The best seat in a Plane is the Jumpseat.
 
theCoz
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:35 am

Quoting Airlinerfreak (Thread starter):
My opinion is that this craziness we are seeing in the spike in oil prices will not stop until we hit $80 a barrel

Do you have any facts to support your opinion?
 
Airlinerfreak
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:51 am

Quoting TheCoz (Reply 4):
Do you have any facts to support your opinion?

The facts are everywhere. Look who we have as our president and vice president. Look we have controlling the oil industry. I mean these facts dont prove the point that oil will go up that high. But we will see, we will see.
 
TedTAce
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:56 am

Quoting TheCoz (Reply 4):
Do you have any facts to support your opinion?

Last time I CHECKED .... FACTS are irrelevant to OPINION... Facts are only pertinent to things you portray as facts..
My Opinion is that your are a pretty ok guy Coz...

The fact is 80% of A.net thinks we are spaztic...with you comming in a close second to me ONLY because you have been to busy studying to post...
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jutes85
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:57 am

Ahh, the good ol days:

http://www.airliners.net/discussions/non_aviation/read.main/643089

Funny how we were still complaining.
nothing
 
b757300
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 10:07 am

Jeez, all the moonbats were constantly repeating the Michael Moron talking points and said we went to Iraq to take all the oil.

Well damnit, I want my Iraqi oil already.

The funny thing is the same people now blame the President for the high oil prices. If we were pumping Iraq dry and oil was $25 per barrel, they'd be the ones screaming bloody murder over that too. Typical liberal hypocrisy.
"There is no victory at bargain basement prices."
 
theCoz
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 10:07 am

Quoting Airlinerfreak (Reply 5):
The facts are everywhere. Look who we have as our president and vice president. Look we have controlling the oil industry. I mean these facts dont prove the point that oil will go up that high. But we will see, we will see.

If they're everywhere, then please just state one.

Quoting TedTAce (Reply 6):
FACTS are irrelevant to OPINION...

I try my best to base all my opinions on the most solid facts possible. Big grin

Quoting TedTAce (Reply 6):
The fact is 80% of A.net thinks we are spaztic...

Come on Ted, you're just envious of my coolnees. It's not very cool to butter someone up before asking them for cool lessons. You still won't get a discount.  Smile
 
TedTAce
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 10:08 am

Quoting TheCoz (Reply 9):

Come on Ted, you're just envious of my coolnees. It's not very cool to butter someone up before asking them for cool lessons. You still won't get a discount.

Denial is not just a river in egypt..... AGAIN!!

 Yeah sure
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SRQCrosscheck
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 10:33 am

Quoting B757300 (Reply 8):
The funny thing is the same people now blame the President for the high oil prices. If we were pumping Iraq dry and oil was $25 per barrel, they'd be the ones screaming bloody murder over that too. Typical liberal hypocrisy.

Because the shady world-government will reveal it's full plan in due time.... just-kidding

And besides, just becasue Halliburton wanted to control the oil in Iraq doesn't mean they wanted to let it flow.

[Edited 2005-08-12 03:35:16]

Granted, I'm just making the last statement not because I actually believe Halliburton is involved in the who-hah in Iraq, but just as a hypothetical.

A major factor in the oil problem is that there's just no more refining capacity.

[Edited 2005-08-12 03:45:45]
 
ltbewr
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 11:14 am

I wouldn't be surprised at $80/bbl oil this fall, especially with demand for home heating oil, and more oil for electric power generation, combined with still low production from Iraq and who knows what in the middle east as well as insatiable demand from the PRC and the rest of Asia. Still, inflation adjusted, it would have to reach $90/bbl to equal the pricing levels of 1980. You are looking at $2.60-$3.40/gallon for gasoline and diesel in the USA and $7.00+ in Europe. It's too bad the oil holding countries are getting all of this money, too bad some of it couldn't be redistributed to feed and assure basic needs for much poorer countries.
 
TedTAce
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 11:23 am

Quoting LTBEWR (Reply 12):
too bad some of it couldn't be redistributed to feed and assure basic needs for much poorer countries.

What, so the additional demmand can increase food prices yet more after the increase from fuel/transportation costs as it will be?
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baw2198
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 1:27 pm

Quoting Airlinerfreak (Reply 5):
The facts are everywhere. Look who we have as our president and vice president. Look we have controlling the oil industry. I mean these facts dont prove the point that oil will go up that high. But we will see, we will see.

With this being the case, then why can't we take them to court like the worldcom/ enron boys got??? Fleesing america and draining her dry should be a criminal charge of some sort you would hope. Out here in ROC (just arrived this morning about 1130am) gas is suppose to jump 10 freakin cents over night!!!! 2.59 by morning from 2.49. This is for the cheap crap!!!  eyepopping   mad 
Now why the price jumps over night is criminal when you figure that the cost changes regardless if the truck comes that day or not. Wasn't there a law stating that the price per gallon couldn't rise until the new shipment came in??
"And remember, Keep your stick on the ice"--->Red Green
 
zotan
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 2:19 pm

Why does everyone say the price of oil is going up due to lack of refinery capacity? Thats like saying the lack of bakeries causes flour prices to go up.
 
cfalk
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 2:46 pm

Quoting Airlinerfreak (Reply 5):
The facts are everywhere. Look who we have as our president and vice president. Look we have controlling the oil industry. I mean these facts dont prove the point that oil will go up that high. But we will see, we will see.

The reasons for the sky-high oil prices are here to stay, and have nothing, zero, nada to do with who you have in the white house. I'd be willing to certify that if Al Gore had been president in 2000, and had continued the Clinton fuel policies, oil today would be at EXACTLY the same price.

The reasons for high prices are simply that demand now exceeds supply capacity. Europe and the U.S. have not been increasing their consumption very much, but China and India have, along with all the other developing nations.

This was the situation 5 years ago. I haven't found a more current chart yet.

CAPACITY
PRODUCTION* CAPACITY USED (%)
MAJOR OPEC
SAUDI ARABIA 7.8 10.8 72%
IRAN 3.4 3.7 92
VENEZUELA 2.8 3.0 93
IRAQ 2.6 2.8 93
KUWAIT 1.9 2.7 70
UAE 2.1 2.5 84
NIGERIA 2.0 2.2 91
LIBYA 1.4 1.5 93

OTHER LARGEST
UNITED STATES 8.1 8.1 100
RUSSIA 6.2 6.2 100
MEXICO 3.0 3.3 91
CHINA 3.2 3.2 100
NORWAY 3.1 3.1 100
UNITED KINGDOM 2.9 2.9 100
CANADA 2.6 2.6 100

I don't have the breakdown, but right now the world is running at around 98% capacity - perfectly beleivable when you take into account the explosive growth in asian countries and in thei demand for oil.

According to some, oil production will probably soon decline! According to energy investment banker Matthew Simmons, of Simmons & Co International, Saudi Arabia and Iran have damaged their fields by overproducing (to fill up your SUV's cheap), and their production capacity is now declining.

Which means, in a nutshell, that

1) $65 per barrel is only the beginning. Look for $100 or more by the end of next year (my opinion)

2) Drilling the Alaskan fields will certainly lower prices, maybe by $5, $10 maximum.

3) If you own a gas guzzler, I suggest you get rid of it before nobody will buy it from you. (I sold mine nearly 18 months ago)

Charles
The only thing you should feel when shooting a terrorist: Recoil.
 
Superfly
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 3:21 pm

Cfalk:
Even those who ride bicycles, use public transportation and fly on airplanes will be effected by this. Buses, trucks, railroads and aircraft use feul an the increase in prices will be passed off to the consumer. Severe economic trouble is on the horizon if what you say is true.
Bring back the Concorde
 
mrniji
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 4:10 pm

Hopefully they rise even higher, so that people try to consume more economically, see alternatives and save our environment (and crack down the oil industry)
"The earth provides enough resources for everyone's need, but not for some people's greed." (Gandhi)
 
teva
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 5:02 pm

Jail the speculators and crooks.
forcr the media to stop talking about oil, increasing the fears.
1 example: the death of King Faad. Why an increase of oil prices? What changes? The king was sick, and not ruling te country anymore since the mid nineties. But the combination media+speculators made a lot of hype. The result? the price that was slowly starting to decrease ,jumped again.
Investigate on the incidents in the refineries in the States. Is it really accidental, or a little bit helped? (just enough to spread the fear of oil shortage....)
Of course, Ali Burton and the more than 40 crooks will never tell you. you will discover it in 40 years, when you will have access to some documents.
Teva
Ecoute les orgues, Elles jouent pour toi...C'est le requiem pour un con
 
cfalk
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 7:35 pm

Quoting Teva (Reply 19):
1 example: the death of King Faad. Why an increase of oil prices? What changes? The king was sick, and not ruling te country anymore since the mid nineties. But the combination media+speculators made a lot of hype. The result? the price that was slowly starting to decrease ,jumped again.

The death of Faad was a little reminder that he was probably the last absolute ruler of Saudi Arabia. His brother Abdullah is 81, and won't last very long either, and after he's gone, there are no princes who have a clear line to the throne, so there will be a lot of infighting. Secondly, most of the terrorists that are being captured in Jordan and Syria and Iraq are Saudis. What will happen when eventually they stop blowing themselves up in Iraq, and start blowing themselves up in Saudi Arabia, which was Bin Ladin's principle goal to begin with? Saudi Arabia is headed for huge disruptions in the next 10 years, and anyone who depends on oil from them had better have contingency plans for alternatives.

Quoting Teva (Reply 19):
Investigate on the incidents in the refineries in the States. Is it really accidental, or a little bit helped? (just enough to spread the fear of oil shortage....)

Conspiracy theories are like assh&les. Everyone has one.

Charles
The only thing you should feel when shooting a terrorist: Recoil.
 
777236ER
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 8:04 pm

Time to get investing in hydrogen technology? Get giving tax breaks to companies developing the technology, and start thinking about the infrastructure.
Your bone's got a little machine
 
cfalk
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 8:13 pm

Quoting 777236ER (Reply 21):
Time to get investing in hydrogen technology?

The problem with hydrogen is that the only practical way to make it in large quantities is from hydrocarbons - i.e. fossil fuels.

The answer is fusion. Anything else is just a stopgap measure. What we need is a Manhatten Project for fusion technology.

Charles
The only thing you should feel when shooting a terrorist: Recoil.
 
mrniji
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 8:42 pm

Quoting Cfalk (Reply 20):
Conspiracy theories are like assh&les. Everyone has one.

And truly, it/they exist/s  Wink

Quoting Cfalk (Reply 22):
The answer is fusion. Anything else is just a stopgap measure. What we need is a Manhatten Project for fusion technology.

Or you try to gather the existing energy in air, water etc.. there's plenty
"The earth provides enough resources for everyone's need, but not for some people's greed." (Gandhi)
 
777236ER
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RE: My Opinion:Oil To $80 A Barrel

Fri Aug 12, 2005 9:14 pm

Quoting Cfalk (Reply 22):
The problem with hydrogen is that the only practical way to make it in large quantities is from hydrocarbons - i.e. fossil fuels.

Nope, you can electrolyse hydrogen from water. You need more energy to electrolyse the water than you get from the hydrogen however. The benefit is you can use nuclear power, or even solar power to do it - Honda have a solar-powered hydrogen electrolysing station that uses only water and sunlight to supply hydrogen to their hydrogen-powered car.
Your bone's got a little machine
 
Superfly
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 12:38 am

Bring back the Concorde
 
SlamClick
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 1:12 am

$80 a barrel?
Might not be a bad thing. At some point it becomes cost effective to search for new oil. At some point off-limits oil fields will get opened up. $80 might be better for us than $65

Interesting story on the CBS evening news last night. Oil refining and destributing companies profits are setting records, their stock prices are setting records. Despite high prices for crude, which would appear to be a higher expense for them, they are making more profit than ever. Apparently they are immune to economic pressures that other industries feel.

One related question: Often the evening news quotes a "national average" gas price. Now when I was flying I'd see what gas prices were all over this country and in twenty years of seeing this number reported I have NOT ONCE seen gas prices anywhere as low as they quoted for an average! Why do they lie about this?
Happiness is not seeing another trite Ste. Maarten photo all week long.
 
B744F
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 9:22 am

Quoting SlamClick (Reply 26):
At some point off-limits oil fields will get opened up

Sure, like Alaska? It will only take 10 years for that oil to reach the market if they started today... that would have a "big" effect on prices, right?

At some people people will realize enough is enough, and the middle east (mainly Saudi Arabia) controls prices, no matter where you might find a few million barrels of oil lying around.
 
SlamClick
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 9:41 am

Quoting B744F (Reply 27):
Sure, like Alaska? It will only take 10 years for that oil to reach the market if they started today... that would have a "big" effect on prices, right?

Incredibly dumb response.

Who gives a damn about today's prices. I'm more concerned with the prices ten years from now. (when Saudi oil may be $500 a barrel)

If $80 oil is the trigger needed to to start new exploration and development then bring it on.
Happiness is not seeing another trite Ste. Maarten photo all week long.
 
B744F
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 10:34 am

Quoting SlamClick (Reply 28):
Incredibly dumb response.

Who gives a damn about today's prices. I'm more concerned with the prices ten years from now. (when Saudi oil may be $500 a barrel)

If $80 oil is the trigger needed to to start new exploration and development then bring it on.

Wow, an incredibly dumb response would be to think that magically oil prices won't be 500$ a barrel if the Saudis want it to be. You need a lesson in market economics, especially if you think a few little wells will offset higher prices
 
halls120
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 11:00 am

Quoting SRQCrosscheck (Reply 11):
A major factor in the oil problem is that there's just no more refining capacity.



Quoting ZOTAN (Reply 15):
Why does everyone say the price of oil is going up due to lack of refinery capacity? Thats like saying the lack of bakeries causes flour prices to go up.

While the lack of refining capacity is not the only reason prices are high, it plays a significant role. Since cars and aircraft don't burn crude oil, if we lose 10% of refining capability because of mechanical or other refining problems, there is 10% less gas and aviation fuel to go around.

My dad spent his working life working in and eventually running an oil refinery. During the 1973 oil "embargo," his refinery had all the crude it could handle, but it couldn't meet demand, because of the hoarding that was taking place.
"Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself." Mark Twain, a Biography
 
dan2002
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RE: My Opinion:Oil To $80 A Barrel

Sat Aug 13, 2005 2:08 pm

http://clevelandgasprices.com/images/charts/xchart84.png?ii=60692


Notice how gas gets very close to 1.10$ a few months before the war.(depending on which image its showing) Its been a increase ever since. Car bomb, oh shit, better fill your tank up now. King Fahd dies, no relation, but what the hell, lets jack around the price of oil because were bored. Mind you this is going to be a dynamic image.


-Dan
A guy asks 'What's Punk?'. I kick over a trash can and its punk. He knocks over a trash can and its trendy.

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