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oil closes at $$$ 100.74

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wasnt it a week ago they were saying the would be low this summer.

The analyst wont be happy until there is a recession, which is 2 consecutive quarters of no or negative growth and there hasnt been one yet!!!
 
Just the Facts!

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AND POSTED :eek::D:cool:
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I am so happy to hear about there record profits again.

What does exxon "record profits" (10%) have to do with the global price of oil. They have to pay that $100 a barrel price on imported oil also. Ya want lower oil/gas prices, increase supply. Get the dems (and McCain) to let American oil companies drill new wells (ANWR) and build new refineries. Or we can go along with the (conservation only) crowd and give up our trucks and sleds. I choose A.
 
What does exxon "record profits" (10%) have to do with the global price of oil. They have to pay that $100 a barrel price on imported oil also. Ya want lower oil/gas prices, increase supply. Get the dems (and McCain) to let American oil companies drill new wells (ANWR) and build new refineries. Or we can go along with the (conservation only) crowd and give up our trucks and sleds. I choose A.

No doubt.. even if they made a small or short term program to use our own resources. imagine the impact it would have world wide on oil prices.
 
What does exxon "record profits" (10%) have to do with the global price of oil. They have to pay that $100 a barrel price on imported oil also. Ya want lower oil/gas prices, increase supply. Get the dems (and McCain) to let American oil companies drill new wells (ANWR) and build new refineries. Or we can go along with the (conservation only) crowd and give up our trucks and sleds. I choose A.

I like your idea, but I think there is a problem. Yeah we can drill new wells build more refineries, but were still going to deminish our oil supplies. Oil doesnt replace itself. You keep pulling from a bucket that never gets refilled, you eventually run out. Yeah there may be enough oil to last another 200 years, but its eventually going to be all gone. Sometimes I wonder what makes people think we have an infinite supply of oil.

Even with new refineries and new drilling sites, the price is not going to come down. Never again will we see $1.00 a gallon gas or even $2.00 a gallon. Plan on gas only going up in price.

Here another thought also. Why should they lower the gas prices. We all have proven that no matter what the price of gas is we will still buy it. If its goes up to $5 a gallon people will still pay. Gas is like crack.


Finally just to throw this out there. Earth has a way of repairing itself. It will eventually create more oil. Problem occurs in that when the earth created the oil it wasnt really the most liveable place not to mention it took 250,000 years or better. Dont think humans are gonna be around to see that happen, so we might want to come up with an alternative before we run out, and before it reaches $10 a gallon.

Im all for gas/oil I use it everyday, but then again I dont have a choice. Maybe they need make some choices. Oh wait we do. We get to coose from 87,89,92 octane.
 
I like your idea, but I think there is a problem. Yeah we can drill new wells build more refineries, but were still going to deminish our oil supplies. Oil doesnt replace itself. You keep pulling from a bucket that never gets refilled, you eventually run out. Yeah there may be enough oil to last another 200 years, but its eventually going to be all gone. Sometimes I wonder what makes people think we have an infinite supply of oil.

Even with new refineries and new drilling sites, the price is not going to come down. Never again will we see $1.00 a gallon gas or even $2.00 a gallon. Plan on gas only going up in price.

Here another thought also. Why should they lower the gas prices. We all have proven that no matter what the price of gas is we will still buy it. If its goes up to $5 a gallon people will still pay. Gas is like crack.


Finally just to throw this out there. Earth has a way of repairing itself. It will eventually create more oil. Problem occurs in that when the earth created the oil it wasnt really the most liveable place not to mention it took 250,000 years or better. Dont think humans are gonna be around to see that happen, so we might want to come up with an alternative before we run out, and before it reaches $10 a gallon.

Im all for gas/oil I use it everyday, but then again I dont have a choice. Maybe they need make some choices. Oh wait we do. We get to coose from 87,89,92 octane.


Well, us oilfield engineers have been dreaming up new ways to obtain previously unrecoverable reserves out of unconventional reservoirs for the last 20 years ... hell I'm working on that as I post here half the time ...

I mean literally dude, even as we speak I'm helping to implement brand new technology that will help us pull oil and gas out of the ground we never thought possible 15 years ago ..

The technology changes, so does the amount of oil and gas you can get from places you never thought possible.

Hell even with all the new stuff put in place in the last 20 years you're still lucky if you can recover %10 of the hydrocarbons in a given reservoir ...

You can say oil and gas aren't renewable resources, but the "proven reserves" thing everyone always talks about is based on what we can get out of it now, not 20, 30 years from now.
 
Hey Dogmeat.

I have heard rumors for years that the U.S. has enough oil resources under our own soil to keep the country going for many decades even a hundred years. Do you have any knowledge of that. Kinda sounds like you'd be the guy to ask.
 
I work on a Oil Drilling rig in ND

that is true about us having enuf oil under our own soil. the bokken shale zone under MT, ND and on up into canada is one of the largest oil reserves in te world.

Gary
 
Hey Dogmeat.

I have heard rumors for years that the U.S. has enough oil resources under our own soil to keep the country going for many decades even a hundred years. Do you have any knowledge of that. Kinda sounds like you'd be the guy to ask.

Ok as far as that goes, no, I wouldn't be the guy to ask ... That type of question is really kinda hard to answer. If I was a high-level oil company exec or a Federal DOE guy perhaps ..

The point I'm trying to make is, as the technology we use to recover hydrocarbons out of the earth evolves, it changes the picture of "how much oil" do we have.

There are so many factors effecting this I can't begin to know them or understand them all, suffice to say, there are probably more political reasons than scientific reasons as to why or why can't we get oil out of the ground.

I don't think we're in any danger of ever "running out" of oil. However, the reason we see gas prices the way they are is because the demand is greater than the supply.

This doesn't necessarily mean "we're running out" moreso that it means we just can't recover what we have at the given point in time due to technological limitations, political horse crap, whateve r....
 
i say we revolt! lol like that ever would happen. it really gets my shorts in a bundle when the prices of gas comes up....the oil co. know the whole world runs on oil so why not just give it to us all in the a$$ and make some money off us. they know we cant live without it so as long as we need it we will keep paying these prices. and what really tiks me off diesel is from "the bottom of the refining barrel" and less refind than gas(correct me if i am wrong) and the cheapest to make and it is the most expensive at the pump! WTF! and you gotta love the record profits they are making! i really want to slap these guys!
 
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