Oil prices soar to record highs!!!

Oil prices today peaked at US 63 per barrel...a new record. Check the story out at:
Oi l Prices

I think it's time for hybrid engines and newer forms of fuels from renewable resources.

Today I was watching CNN (I was really bored) and they said that the oil reached $64 per barrel. It wasnt that long ago that oil barely reached $60 per barrel. We really do need to find a new fuel source, but sadly I think its too late.

Don't be ashamed to be watching the American mainstream news, the BBC is more bias than CNN. Sorry to say it but its the truth.

Just happy i don't drive

Dont' think I could afford it....I like t'a ride my bike more anyway...and keeps me in good shape.

But it's crazy to see the price climb....when will it stop...? Almost like they are turning the screws guess all this unstableness it kind'a making people worried, esp. if you don't have oil under y'r land. Just image what will happen when the there is not enough water around.


Y'r Canadian friend,
Sven

Originally posted by iksmodnad
Don't be ashamed to be watching the American mainstream news, the BBC is more bias than CNN. Sorry to say it but its the truth.

Question, why did you say that about the BBC when nobody mentioned it before?

(Note, i am not arguing with your statement.)

housing has gone up, same with clothing, food, and entertainment, as well as the salaries used to pay for these. know that their is more concern to the gas prices than just the prices, but how long were we expecting to pay $0.50 per litre, consiquently though new cars are now cheaper than ever.

Originally posted by dazed and confused
housing has gone up, same with clothing, food, and entertainment, as well as the salaries used to pay for these.
know that their is more concern to the gas prices than just the prices,

quite right, everything is getting more costly...

the immediate reason for the $63-64 per barrel, is not the Peak Oil scam,
its rather the Geo-Political situation in Saudi Arabia and their ability to maintain the oil flow...
under the heightened threats from insurgents/terrorists to the supply & transportation infrastructure for oil, there in the Arabian Fields

at least thats what i heard from the CNBC MarketWatch channel reporters

The oil price games continue as they always have. I wonder just what if anything we are trying to do to secure oil within our own borders or other places besides the middleeast. Is the middleeast the only source? Is anyone really looking for other ways to deal with this in Congress or is someone just enjoying higher salaries? Just curious.

Originally posted by TPL

Originally posted by iksmodnad
Don't be ashamed to be watching the American mainstream news, the BBC is more bias than CNN. Sorry to say it but its the truth.

Question, why did you say that about the BBC when nobody mentioned it before?

(Note, i am not arguing with your statement.)

Because the BBC is often compared to CNN, MSNBC, FoxNews. Its kind of like the mainstream new of Great Britain opposed to the mainstream news in America.

Don't forget: We are at war.


History of turbulent oil prices:


www.wtrg.com...

That charts a little bit out of date now though isn't it, whack that rise right up to $66.

Originally posted by picard_is_actually_a_grey
That charts a little bit out of date now though isn't it, whack that rise right up to $66.

Not necessarily, the primary causes behind the $66 a barrell is 9/11, wars in Iraq and Afghanistan and OPEC.

If you take into inflation, oil circa 1980 was at about $94 a barrell.

Mid August 2004 there was Hurricane Ivan, increased activity against Arabs by Israeli's, and bombing campaigns by US in Iraq.
In Feburary of this year, Korea said it had nukes, SA held its first ever elections for municipal authorities, Kyoto Protocol went into effect without the US.
March Kyrgyzstan's president was overthrown, though negligible in oil it's pipe line's are used to pay off debts to Kazakhastan which has an estimated 26billion barrels of oil in reserves.
May, increased insurgent activities in Iraq.
July, bombings in London and start of Hurrican season.

I was watching the news again and it said that oil in Northern California was over $3.00 per gallon! Thats rediculous! I could tell some of the people they interviewed on the news seemed pissed about it. I dont blame them.

Originally posted by BigPimpin
I was watching the news again and it said that oil in Northern California was over $3.00 per gallon! Thats rediculous! I could tell some of the people they interviewed on the news seemed pissed about it. I dont blame them.

I'm very concerned about the fact that the govt does little to push alternative fuel. Not only the high gas prices are bad economically, it also pains me to think that our money goes to finance some shady characters around the world, from Saudi Arabia to Russia. Alternative fuels are so much more than just relieving the effects of global (perceived) shortage, it must be made a priority as a political strategy.

Like aelita said, there is alternative fuel out there that has been proven to be able to run cars. And they do come from renewable resources. Check this thread out:

Alternative fuel

I wish I could convert my car to run on this. But alas my money tree isn't bearing fruit at the moment.

www.greaseworks.org...
DAVE DUNHAM, a Web master from Fayetteville, Ark., proclaims he is not an environmentalist, but just "incredibly cheap." Since 2001, he has fueled his cars with waste cooking oil he gets free from restaurants. After being used to make french fries, chicken fingers, egg rolls or tempura, the vegetable oil gets a new life, running his 1998 diesel Volkswagen Beetle.

Now Imagine this:

You are a Rich Investor and have Bought as much Oil Shares as you could prior to this War - Today you would be making ENORMOUS Profit from this Shares.

War is Money.

War is Business.

War is Stock Market.

That's how the World Turns Today...

Fine, but lets imagine this,
The poor get poorer
their children are starving
they get tired of see the excesses of the rich
and finally have had enough and get rid of all the rich.

$2.59 a gallon for diesel today! It was $2.45 here in Colorado Springs last night.

Supposedly, we hit the $2.45 mark because some Saudi king died. Ok fine increase should be short lived it was 6 cents on the gallon- it never went back down and now THIS!! I haven't seen any excuses today on news and what-not. i am more than a little surprised to not see it being discussed here.

Any other places suffering from a 14 cent hike? (almost 6% overnight) if we include the kings death tax- (don't know what else to call it) we are looking at 20 cents a galloon in less than a month. - nearly 8.5% increase in less than 30 days!

who esle did we tick of/ blow up/ etc for this huge jump? My job largely focuses on watching the news and i sure am feeling like i missed something

I think that oil companies and investors are artificially inflating the price of oil for a quick profit. Any 'bad' news and oil prices jump. Next we're gonna here the new Saudi King say 'Boo' and oil prices jump another 5%!!