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Gas could fall to $2 if Congress acts

M

Mooseknuckle

Free Member
http://www.marketwatch.com/news/story/gas-could-fall-2-if/story.aspx?guid={2673C102-68E0-41D9-9C9A-10EE2E723948}&dist=MostReadHome

I guess first - could you believe that it is possible vis-a-vis speculation being the driving force.

second - are these men speaking honestly?

Both Treasury Secretary Henry Paulson and Energy Secretary Samuel Bodman have dismissed the impact of speculators on prices paid by consumers.

and third - is our consumption such that a small decrease in OPEC supply will negate any downward pressure on price due to a limiting of speculation. (China and India notwithstanding)

or is all hooey and "the man" ought keep his hand out of our F'ing investment business?

What say You?
 
I would like them to keep out of it and make a fast track on the permits, show the middle finger to the greenies and their lawyers and let the oil guys get out on the OCS and in anwar.

I think thats the best way to get oil prices down, get more out there to trade.
 
Snorider said:
I would like them to keep out of it and make a fast track on the permits, show the middle finger to the greenies and their lawyers and let the oil guys get out on the OCS and in anwar.

I think thats the best way to get oil prices down, get more out there to trade.
Click to expand...

I agree stop threatening the arabs and start drilling offshore here, why do the governors not want to be in control of their own states shores? I am all for lifting the feds moratorium on drilling offshore and in Alaska! Stop threatening to do it and just DO IT!
 
Ok, first.......
the arguement against drilling (by people like Obama) is that it would be 10 years before we saw anything from it, so why destroy the earth. The fact he is HEAVILY invested in E-85 has nothing to do with it I'm sure.

The facts are..........
If they drilled Anwar it would be 7-10 years before we saw a STEADY flow of oil because they would have to build a new pipeline. Which 3 different oil companies have offered to pay in full for. THis could be held up for years in legal fights over enviromental issues.
If they drilled off shore we could have that oil at the refineries in less than 9 months from the go signal.

They would need to build 3 more refineries to be able to refine the extra oil just from the offshore oil rigs.
There is a proposal in congress right now to sell off a few of the excess military bases (the ones they closed during the base re-alignment) to investers looking to build refineries. Since it is fed. land they can do that.

The main problem and the driving force.
Believe it or not, I don't care.
Enviromentalist.
The emissions from oil/gas buring is one of the things they point to as THE major cause of green house gasses. They will fight tooth and nail to stop any additional drilling, refineing or anything that would drive down the cost of oil. Their philosophy (as with anything else these days) make it SO expensive no one can afford to do it.

Their bought and paid for politicians will allow the eco-nuts to tie up any legislation for YEARS. There already is incredible pressure to open up off shore drilling in areas KNOWN to hold vast reserves just waiting to be drilled. I get notices from eco groups (I belong to keep an eye on em) pleading with me to call my politician and tell them not to cave in. So there is hope. just not much.
 
no way thats happening oil hit over $140 A BARREL TODAY ....and is said to hit upwards of $170 in the next 60-90 days..that is almost $6 a gal for gas...i would love to think gas would be $2 again...is not going to happen.....even though i pray for it every day
 
why are we such a gotta have it now nation? obama wants it to change tomorrow so did clinton, well clinton would of been a hero right now if he would of let em drill 10 years ago
 
xsummitx said:
no way thats happening oil hit over $140 A BARREL TODAY ....and is said to hit upwards of $170 in the next 60-90 days..that is almost $6 a gal for gas...i would love to think gas would be $2 again...is not going to happen.....even though i pray for it every day
Click to expand...

An interesting question for ya.
How much of the 140 a barrel is actual cost and how much is self fulfiling prophecy?

If everyone expects it to go to 170, don't you think the speculators will push it to 170 a barrel??
Why wouldn't they. You already are prepped for it.

There are some calls in congress to reign in the (what they call) extreme enviromental groups and cut them off from federal (i.e. our) money. I have no idea "which" groups they consider extreme, but it would be fun to see what happens if they actually try.
Some in congress are starting to acuse the enviro groups of interfering in the governing of this country.
 
Just a guess, but dont you think if we even STARTED building refineries off our coasts or even cleared the Alaskan Tundra to be drilled on that the arabs would freak out and push to lower the oil prices? I mean arent we like the 2nd or 3rd largest oil consumers worldwide? Next to China I believe, anyways I think they would be a little worried if they THOUGHT we might not need them anymore. Just a thought.
 
Idaho Ice said:
I mean arent we like the 2nd or 3rd largest oil consumers worldwide?.
Click to expand...

Not even close .... the US is by far the largest oil consumer.... I believe almost 25-30% of the oil produced in the world in used in the US.
.... and to make matters worse, I don't think the you (the US) could produce enough oil to even qualify for a seat at the OPEC table, even if drilling started everywhere.
I don't think Clinton or Bush wanted to play a hand where they could get called bluffing (by announcing all this new drilling)...... and McCain/Obama will be in the same boat.
 
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JDKZRT said:
Not even close .... the US is by far the largest oil consumer.... I believe almost 25-30% of the oil produced in the world in used in the US.
.... and to make matters worse, I don't think the you (the US) could produce enough oil to even qualify for a seat at the OPEC table, even if drilling started everywhere.
Click to expand...

we have enough resources and ways to get oil in the USA we could produce more than Saudi. when you start throwing in drilling, coal and shale to oil we have more oil than you can shake a stick at.

the big problem is WE CAN'T TOUCH IT:mad:

Also china and India are booming with how much oil they consume. it won't be long before they surpass the US.
 
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JDKZRT said:
.... and to make matters worse, I don't think the you (the US) could produce enough oil to even qualify for a seat at the OPEC table,
Click to expand...

You might want to recheck your facts. We are the number 3 producer in the world. A lot of people seem to forget that we produce a lot of it, it is just that we use so much more...
 
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Gas will never ever ever ever ever ever ever ever ever be $2.00 a gallon again.

We'll be lucky if we even see it STAY at $4.00 a gallon where it is right now.
 
Drilling is not the only means to lower fuel costs. The positive side of rising fuel costs is that it makes research into alternative fuels much more worth while. If gas stayed at 99 cents a gallon we would all be happy and wouldn't look into other alterative fuel sources. Look at the Honda FCX (Google it if you don't know what I'm talking about) this is a very expensive undertaking for Honda, the fuel cell and the car are the easy part, its building infrastructure to support it that costs a ton. Building that infrastructure has already started in major metropolitan areas in California. We are also improving bio diesel and the company grease car that manufactures vegetable oil conversion kits is reporting exponential increases in profits as their product improves, in fact VW released their new engine design for the Jetta to them early so they could begin working on the new conversion kit and time its release with the new VW motor. Even electric cars are advancing and becoming more reliable and their range is improving. Once this technology is refined and mass produced so people can afford it, gas prices will drop. It may take years but it will happen. I know if I was looking for a new truck and their was one on the market that would deliver close to the same power as a gas or diesel but run vegetable oil that I could get from a fast food restaurant or the grocery story I would buy it in a heart beat. I would most likely pay a couple thousand dollars more for it. The above mentioned alternatives or not the only ones being explored but just the most promising and notable ones. Congress can help the current situation but if they don't, in the long run it may be the best thing to ever happen to us. If we can control our own energy sources and they can be manufactured on a free market with competition then we have won this battle over oil.
 
Snorider said:
we have enough resources and ways to get oil in the USA we could produce more than Saudi. when you start throwing in drilling, coal and shale to oil we have more oil than you can shake a stick at.
Click to expand...

I don't think so....
http://internationaltrade.suite101.com/article.cfm/top_ten_oil_countries
http://en.wikipedia.org/wiki/Oil_reserves
US is #11 on the list of oil reserves
There's new technology as far as shales etc. go, but all OPEC is going to do is undercut the costs of this production a little bit ..... and they stay in the driver's seat.
The problem is ...... they just have too much oil that is too easy to get at.
 
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