Oil shortage a myth, says industry insider

[DaveDragon]

http://www.belfasttelegraph.co.uk/news/world-news/article3785978.ece

[grifscoots]

There's not an oil shortage, it's the American dollar and our spineless leaders who trash our GNP because of trade inequities. This is further escalated, like a scratching dog with fleas, by futures dealers.

[Oisin]

Eight years of Clinton meant eight years of low oil prices and a roaring economy. Oil King George takes the throne and the oil companies move into the Whitehouse. Coincidence--- maybe , but it sure is suspecious.

As far as Obama goes he is the best Republican the Wobblycrats could put forward. Oh! and he may be an oil man too, after all he is related to Cheney.

Sure miss those "cheap gas, " Clinton years though. I did not even think twiceabout the price of filling the motor home every day all week long. What a great time it was .

[Wolfgang]

Eight years of Clinton meant eight years of low oil prices and a roaring economy. Oil King George takes the throne and the oil companies move into the Whitehouse. Coincidence--- maybe , but it sure is suspecious.

As far as Obama goes he is the best Republican the Wobblycrats could put forward. Oh! and he may be an oil man too, after all he is related to Cheney.

Sure miss those "cheap gas, " Clinton years though. I did not even think twiceabout the price of filling the motor home every day all week long. What a great time it was .


This belongs in the Humor forum. Can somebody move it there?

[Randy]

I say...


Blame Canada! (http://en.wikipedia.org/wiki/Blame_Canada)


.

[JPSpen]

Unfortunately, Dave speaks the truth

One of my customers is a small oil company and they tell me the same thing.
And believe me they're swimmin in the cash over there....

John

[norriscooper]

Drill here, drill now:

http://www.americansolutions.com/actioncenter/petitions/?Guid=54ec6e43-75a8-445b-aa7b-346a1e096659

Get-r-done

[STARFIGHTER]

Every summer gas prices go up and always a reason why they "had to do it."
....and still oil company profit increases are in triple digits.
It's just the same old case of screw the people..............

[yechave]

Lindsey Williams talks about his first hand knowledge of Alaskan oil reserves larger than any on earth. And he talks about how the oil compa..


http://tinyurl.com/33l95c

[norriscooper]

Every summer gas prices go up and always a reason why they "had to do it."
....and still oil company profit increases are in triple digits.
It's just the same old case of screw the people..............

Starfighter,
So what if the profit increases are in the triple digits. What is wrong with a profit? Were you complaining when their profits were decreasing by triple digits?
Who owns these companies? The share holders (the people), myself included!

[STARFIGHTER]

no nothging wrong w/ profit
BUT..............................
They must think there's something wrong w/ it since they have to make a phony excuse every summer to raise prices..........................................
I own stock in Chevron so my gas has been free for the last 4 years.......
Just wish it was cheaper for everyone.........

[norriscooper]

no nothging wrong w/ profit
BUT..............................
They must think there's something wrong w/ it since they have to make a phony excuse every summer to raise prices..........................................
I own stock in Chevron so my gas has been free for the last 4 years.......
Just wish it was cheaper for everyone.........

Good, we have common ground.
My son is a crude oil purchaser for a "small" oil company in the Permian Basin.
Two years ago they were considering purchasing overseas oil because they could not get enough locally. They can now! High prices caused more holes to be poked in the ground.
If we would elect officials who will let the oil companies drill here, you will see these prices come down. Quit investigating the oil company executives and investigate the congress!

"This is not the first time that the world has "run out of oil." It's more like the fifth. Cycles of shortage and surplus characterize the entire history of the oil industry." Daniel Yergin

[nplenzick]

Good, we have common ground.
My son is a crude oil purchaser for a "small" oil company in the Permian Basin.
Two years ago they were considering purchasing overseas oil because they could not get enough locally. They can now! High prices caused more holes to be poked in the ground.
If we would elect officials who will let the oil companies drill here, you will see these prices come down. Quit investigating the oil company executives and investigate the congress!

"This is not the first time that the world has "run out of oil." It's more like the fifth. Cycles of shortage and surplus characterize the entire history of the oil industry." Daniel Yergin

I have no problem with drilling here as long as the oil that comes from the USA serves our needs first. I doubt that's going to happen because our USA companies can get more in the world market.
I think what most of us are looking for is a little corporate responsibility.

[Ted]

This belongs in the Humor forum. Can somebody move it there?

yep - most dramatic price moves have happened since Pelosi & company took control in January 2007.

[norriscooper]

This belongs in the humor section:
Democrat Maxine Waters Wants To Nationalize Big Oil

http://www.youtube.com/watch?v=KN6s1KVFBNg&feature=related

[STARFIGHTER]

Integrity.................the lost virtue.

[norriscooper]

I have no problem with drilling here as long as the oil that comes from the USA serves our needs first. I doubt that's going to happen because our USA companies can get more in the world market.
I think what most of us are looking for is a little corporate responsibility.

It will serve the market that is willing to pay the most.
I wonder how many Chinese or Indians can even afford a car let alone the gas.

[Randy]

This belongs in the humor section:
Democrat Maxine Waters Wants To Nationalize Big Oil

http://www.youtube.com/watch?v=KN6s1KVFBNg&feature=relatedCalifornia is fortunate to have such a fine and articulate woman as their representative.

[jayjacobson]

Eight years of Clinton meant eight years of low oil prices and a roaring economy.
The sheeple were so appreciative that they just passed up a golden opportunity for 4 more years of Billary, also. Now that's gratitude for you!
....Oil King George takes the throne and the oil companies move into the Whitehouse.
With traffic so much lighter now, I think the oil companies should be headquartered in the white house! As an added bonus, SUV sales are way, way down.
Sure miss those "cheap gas, " Clinton years though. I did not even think twiceabout the price of filling the motor home every day all week long....
Oh sure just destroy the environment with your 6 mpg motor monster! Next, you'll want to pave over Yellowstone (or was that those evil oil companies now headquartered in the white house)!? :confused:
yep - most dramatic price moves have happened since Pelosi & company took control in January 2007.
This belongs in the humor section: Democrat Maxine Waters Wants To Nationalize Big Oil.
Now, now, guys. Don't be so hard on the socialists/communists. Look at how great things are down in Venezuela! The people are even getting "free" (well, nearly) little plastic houses--made from their own oil!
It will serve the market that is willing to pay the most.
I wonder how many Chinese or Indians can even afford a car let alone the gas.
Norris, there you go again! Don't you realise how unfair it is that one person be any richer than another?
California is fortunate to have such a fine and articulate woman as their representative.
Randy, your missing the entire point! Here in Kommyfornia it's the thought that matters. It's all about how we FEEL, not what we DO. Ok, ok, so she's not very articulate. But she FEELS deeply for the poor sheeple being fleeced by these EVIL big oil companies that are now headquartered in the white house.

Imagine, if we just had a branch of the government, say the "evil big oil administration," they could take care of the sheeple--kind of like the social security administration does. Now don't you FEEL better?
....That is largely institutional investors and the oil companies themselves profiting from the increases in the price of oil that they "bought" last year before it came out of the ground and made a killing on when it sold for 35% more than when they paid for it....We all get to fund that profit taking too. I would like to see that market controlled out of existence. Do you really think the oil companies need more funding???
Yeah, Bil, I'm sure all the pension holders, etc, invested in these EVIL big oil companies--and sharing in the healthy profits--will immediately terminate their investments, on principle alone! :histerica

[WildBil]

Yes, and part of the problem with the price of gasoline is that in addition to the price of producing the oil, transporting the oil, refining it and transporting it again, is that there is now a big futures market for oil that is getting to be nearly 1/3 of the cost. That is largely institutional investors and the oil companies themselves profiting from the increases in the price of oil that they "bought" last year before it came out of the ground and made a killing on when it sold for 35% more than when they paid for it. We all get to fund that profit taking too. I would like to see that market controlled out of existence. Do you really think the oil companies need more funding???

[norriscooper]

there is now a big futures market for oil that is getting to be nearly 1/3 of the cost. That is largely institutional investors and the oil companies themselves profiting from the increases in the price of oil that they "bought" last year before it came out of the ground and made a killing on when it sold for 35% more than when they paid for it.

Wildbil,
Any of us can buy an oil future, that is if you afford the margin.
BTW Dec 2016 traded at $137.56 on the MYMEX.

How do you know that the oil companies had a long position, they might have sold it last year. On these futures trades there is always someone on each side.

[Ted]

California is fortunate to have such a fine and articulate woman as their representative.

"basically"........

[Oisin]

The sheeple were so appreciative that they just passed up a golden opportunity for 4 more years of Billary, also. Now that's gratitude for you!


I doubt the presidents office can make a difference in a one party (elite controlled) system of government.
Those who fought for the independence of our great nation must be turning in their graves . Presently our so called leaders sell out America's riches for their own gain.
I guess I'll go fill up the RV with $430.00 of dino juice and thank the government that the price in only $4.30 a gallon.