Joined Jun 2006
Jambi-rific in Seattle!
Forum Thread
You think gas is expensive in the US?
March 23, 2012 at
01:59 PM
in
Finance
(2)
Petrol hit a new record high today in the UK of 140 pence per liter. Worked out to gallons and dollars, that's $8.41 per gallon. 
Linky [dailymail.co.uk]
Linky [dailymail.co.uk]
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Who says anyone here in is debt
Who says anyone here is rich poor folks - oxymoron statement
A lot of assumptions you are making
Where I am near Philly, $4.77 is the average price
Though we are able to slip over the bridge to NJ, for a few cents less a gallon, if you go over the bridges that don't cost you any money; and happen to be going over there for a reason
We have plenty of oil and gas.... that's not the issue.
The issue is that we have an administration hostile to oil and expecting us to power our economy on wind and solar. It would be nice if that were possible, but it's not.
Oil is one of the greatest commodities to ever hit the world. The world does not function without oil.
The issue is that we have an administration hostile to oil and expecting us to power our economy on wind and solar. It would be nice if that were possible, but it's not.
Oil is one of the greatest commodities to ever hit the world. The world does not function without oil.
pretty much the entire world runs on fossil fuels. thats another issue in itself. we depend on a resources that will eventually run out.
Thank you again for the correction; been a long week and a longer weekend; time for some sleep catchup
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The quality of life that you enjoy is courtesy of oil.
Oil and its products and virtues are everywhere. Even the greenies can't escape it.
Oil and its products and virtues are everywhere. Even the greenies can't escape it.
Oil and its products and virtues are everywhere. Even the greenies can't escape it.
The issue is that we have an administration hostile to oil and expecting us to power our economy on wind and solar. It would be nice if that were possible, but it's not.
Oil is one of the greatest commodities to ever hit the world. The world does not function without oil.
If you only knew the BS that the oil companies pull, you'd be shocked and amazed. I've seen them cap test wells in the US simply because the quality of the oil field means they won't make as high a profit as they want to have. So rather than make some profit they cap the test well and sit on the oil, waiting for prices to go up more so they can get more money for it. Then they moan about how all the remaining oil is in the national parks but they're not allowed to drill for it. When in actuality, they have many fields that aren't tapped out but they want to go for the easy and higher profit stuff first. I grew up around land owners and oil drillers so heard first hand and sometimes even witnessed these events.
And sometimes the extraction is so expensive that unless oil is sitting at $80, $90 or more dollars per barrel, it's not economically profitable to extract the oil. I have similar friends that weren't roughnecks but rather the geologists that sit at Chevron and Exxon. A lot of their projects were not going to go live unless oil hit a certain price on the market because they would be net losers.
If it's going to cost $100 million in labor and capital to extract $80 million dollars in oil, only in Obamaville is that an awesome investment.
If everything you say is true, Obama can just wave his magic wand since no President has been more pro-oil than him (or whatever garbage he says about his administration taking credit for Bush era policies) and oil produces would precipitously decline to levels they were when he was inaugurated, right? Or, did America get a crash course on how oil works on the global market since Bush left office and we can't use the convenient excuse that he's just paying off his oil buddies?
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Sorry you don't approve. You wouldn't like my choice either.