Oil price goes up because of storm in caribbean ???

Crude oil rose in New York as Tropical Storm Chris, the third named storm of the Atlantic hurricane season, formed in the Caribbean.

The storm had sustained winds of almost 40 miles per hour (64 km per hour) and was about 175 miles east of Antigua, the US National Hurricane Center said at 5 AM Miami time. Chris is heading west-northwest, toward the Gulf of Mexico, where offshore rigs provide about a quarter of US oil production.

Those oil ceo's need to be shot.....im serious!


www.financialexpress.com...


[edit on 3-8-2006 by R3KR]

[edit on 3-8-2006 by R3KR]

I have to state i agree 100%. Did you see where OPEC stated that there was no reason for the continued rise in price per barrel due to conditions in the Middle East. What does that say when OPEC itself is saying we are making enough profit and do not need to continue to raise crude prices. However i am sure you have noticed that OPEC statement has had no effect on American oil policy or price. I believe as long as the leader of this country are holding substantial stock in petroleum or petrochemical industry we will never see and end to this. And once it gets to a point where the majority can no longer afford to go to work they will simply start acquiring properties of all the working class. I often wonder if this was nto the plan from the start.

Originally posted by R3KR


Those oil ceo's need to be shot.....im serious!

The big ones(Exxon-Mob, B.P) are only making 55,000$ a minute. Give them a break. Let them get their profits up to around 100,000$ a minute before we call shenanigans on them.

I am sure the CEO's are only looking out for our interests



[edit on 8/4/2006 by pstiffy]

Originally posted by leapofdreams
I have to state i agree 100%. Did you see where OPEC stated that there was no reason for the continued rise in price per barrel due to conditions in the Middle East. What does that say when OPEC itself is saying we are making enough profit and do not need to continue to raise crude prices.

They said some years ago ( two as i recall ) that they would be happy with a range of between 30 and 35 dollars per barrel so as to not upset economic growth and general demand.

However i am sure you have noticed that OPEC statement has had no effect on American oil policy or price. I believe as long as the leader of this country are holding substantial stock in petroleum or petrochemical industry we will never see and end to this.

Energy = freedom and they know it very well and while they control it they control us.

And once it gets to a point where the majority can no longer afford to go to work they will simply start acquiring properties of all the working class. I often wonder if this was nto the plan from the start.

A very insightful post and also exactly what i have come to believe over the last few years. If you continue along this track of investigation i think you will be surprised to discover just how blatantly they are moving towards implementation of these aims. Good post and keep at it.

Stellar

Oil producers determine their price, oil refiners add their price, oil distributors add theirs, and New York adds theirs. New York? Yes, from what I understand speculation in the stock market (futures, commodities) adds 15 to 20% (10 to 15$) per barrel of oil.

Now, in the headlines today is news of Iran saying oil could get to $100 a barrel. What headlines have you seen with investment firm Goldman Sachs saying oil could get to $105? One is part of the terrorist axis of evil meant to scare us, the other provides the US with its Treasury Secretary (GS chairman Henry Paulson) and its President's Chief of Staff (Joshua B. Bolten, former GS employee) and means to inflate their speculations to get investors to invest.

"Hurricane's coming, turn your fear into $$$$$" says the barker at the Wall Street Carnival. "Gamble your money here, rather than in a casino."

Besides speculating, GS buys oil. Millions of barrels.

Hurricanes happen, oil speculation drives the price up, working family spending on things other than fuel goes down, those with extra money (hey, don't buy your kid back-to-school shoes--buy oil futures!) invest and profit.

And those that surround the President get richer.

StellarX

I just wanted to say thank you for the positive feedback in regards to my post. I am new to ats and in most situations i am ridiculed because i am not a PhD, rouge scholar, or theoretical physicist.
I think if we had more people that actually appreciate all varieties of opinions and additional insights we would probably get much farther as a whole group. Even be able to influence some of the problems we are facing as Americans. I hold a BS in psychology but according to the majority of the people on Ats i might as well be a baby. Any way thank you.

Well the next step ha been implemented. Now British petroleum has decided to sabotage their own oil lines to further raise fuel prices. As we all see there has still been no attempt to raise minimum wage to assist the people of America. I am sure that the members of the senate as well as everyone else in Washington just laugh as they continue to raise there income rates. If the members in Washington that are already living far above middle class need a pay raise how is it possible that the working class does not. this is a plan to automatically convert the working class into indentured servants, we will be all working to just keep a roof over our heads. Once they push us to that point we will no longer have any option to raise up the corporate ladder. This will also assure that no one from the working class will ever be able to take a position of political power.

to everyone
resent graduates, scholars we need to really get over our arrogance to one another. I realize when you are a fresh graduate you feel above average just wait that will wear off. There is no need to ridicule a person because they use terminology that may be attributed to a lower level of education. Some of the greatest minds in history were not able to achieve even a high school education. These people were still of the utmost importance to our society. if we continue to knock people down to make our selves feel high we are no better than the governments that oppress us or the massive faceless oil cartels that are more than happy to view the masses as insects with no more importance than to steal from. It is time to grow beyond our little judgement give everyone a chance to contribute.